Volume Spike Investor

Shares of Ciena Corp. (NASDAQ: CIEN) are seeing an explosion in trading volume this morning,  At about 3 minutes before the open, the stock had already seen 1.487 million shares trade hands, and shares went from up to down 3.6% at $29.35.

Its average daily volume is 3.34 million shares.  By the first 8-minutes of trading Ciena shares have traded some 2.6 million shares if you include the pre-market volume.  What is most interesting is that the stock was UP in early trading after the initial news, but then shares went into the red.  Shares are now down over 5% at $28.77 and the 52-week trading range is $21.40 to $49.55.

The company posted earnings this morning and its adjusted net before items was $0.40 EPS on $242.2 million in revenues.  First Call was at $0.37 EPS and $238.3 million in revenues.

This will be one of the more active stocks today if you use the “times-normal volume” analysis.

Jon Ogg
June 5, 2008