Ciena trims loss, says telco spending recovering

Shares in Ciena rose 7 percent in early Wednesday trading after the company, which supplies optical switches and other equipment to AT&T Inc (T.N) and Verizon Communications Inc (VZ.N), also said the integration of a Nortel unit it bought earlier this year was going as planned.

Analysts said the comments soothed a variety of investors' concerns, including the pace of the integration as well as troubles in Europe.

"The stock had been down a bit recently on worries that they were going to say something like Europe was falling off a cliff, that the weakness was going to spread to North America and AT&T would cut capex," said Michael Genovese at Soleil Securities.

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- Posted: 2010-06-09 10:35:35

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