Ciena pullback provides a buying opportunity, says Citigroup
Citigroup recommends using yesterday's pullback in Ciena shares as a buying opportunity. The firm believes the company will have a "more than adequate" cash position following the issuance of debt for the Nortel acquisition. Citi views the acquisition as a strategic positive and keeps a Buy rating on shares. :theflyonthewall.com
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The following stocks were the top percentage losers before the open on solid volume of at least 50,000 shares, trading at over $10. PFWD (22.6%), AIXG (4.5%), CIEN (2%), GOLD (1.6%), GLW (1.3%). :theflyonthewall.com
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