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Fly News Breaks for September 18, 2019
Sep 18, 2019 | 08:56 EDT
MKM Partners analyst Michael Genovese kept his Buy rating and $51 price target on Ciena (CIEN), saying yesterday's 2% decline in its stock price coming in sympathy with the negative pre-announcement ant Corning (GLW) was misplaced and represents a "buying opportunity". The analyst notes that Corning has referenced lower Telco capital expenditure on cable deployments and "Fiber to the Home" projects, but states that Ciena has no exposure to that market. Genovese does warn however that Corning called out reduced Data Center fiber spending among some enterprise customers and sees that slowdown potentially impacting Cisco (CSCO), F5 Networks (FFIV), and Juniper (JNPR).
News For CIEN;GLW;CSCO;FFIV;JNPR From the Last 2 Days
Nov 18, 2019 | 12:25 EST
Bullish option flow detected in Juniper Networks with 7,296 calls trading, 3x expected, and implied vol increasing over 2 points to 27.08%. Dec-19 27 calls and Jan-20 27 calls are the most active options, with total volume in those strikes near 5,000 contracts. The Put/Call Ratio is 0.09. Earnings are expected on January 28th.