Ciena stock rebounds 4% as investors reprice CEO Gary Smith's projection of a $10B backlog by fiscal year-end, despite a 19% monthly slide.
Arista rises just 2% and Cisco barely moves at 0.4%, confirming today's surge is Ciena's own order book story, not a broad networking rally.
CFO Marc Graff guided for at least 30% revenue growth next fiscal year, backed by backlog that extends beyond that period.
Read More: Learn 7 secret wealth tips high net worth investors use that most investors miss (sponsor)
Ciena (NYSE:CIEN) stock is climbing early Wednesday, up 4% to $347.60. The advance is a rebound rather than a breakout, since Ciena stock is down 19% over the past month. No fresh company news landed this morning, and the market is re-pricing disclosures Ciena made at the start of September, when the company reported record quarterly results with revenue at the top end of guidance.
#backlog
Arista rises just 2% and Cisco barely moves at 0.4%, confirming today's surge is Ciena's own order book story, not a broad networking rally.
CFO Marc Graff guided for at least 30% revenue growth next fiscal year, backed by backlog that extends beyond that period.
Read More: Learn 7 secret wealth tips high net worth investors use that most investors miss (sponsor)
Ciena (NYSE:CIEN) stock is climbing early Wednesday, up 4% to $347.60. The advance is a rebound rather than a breakout, since Ciena stock is down 19% over the past month. No fresh company news landed this morning, and the market is re-pricing disclosures Ciena made at the start of September, when the company reported record quarterly results with revenue at the top end of guidance.
#backlog
2 months ago
