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Ciena (CIEN) Surges: Stock Moves 10.1% Higher


Ciena Corporation CIEN was a big mover last session, as the company saw its shares rise more than 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $22.25 to $23.70 in the past one month time frame.

The move came after the company reported better-than-expected fiscal first-quarter 2018 results.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Ciena currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.

A better-ranked stock in the Computer sector is Kemet Corporation KEM, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is CIEN going up? Or down? Predict to see what others think:Up or Down

Breaking News: Cryptocurrencies Now Bigger than Visa

The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.

Zacks has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.

Click here to access these stocks. >>

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To read this article on Zacks.com click here.

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