Diamonds and Dogs
6/5/14CIENA Corporation (CIEN)
Ciena Corporations is soaring today, up 18.48% to $22.50. The United States based global telecommunications company witnessed their shares rise after investors recognized their vast improvement in the second-quarter of the fiscal year. This vast improvement has been due to their innovative strategy centered on supporting newer cloud-type technical infrastructure for their network. As a result of these innovative steps taken by Ciena, the company is now better suited to take on the demands of contemporary telecommunications globally. Ciena predicts revenue ranging from $585 million to $615 million, and analysts subsequently forecasted an earning of 23 cents a share from recent occurrences.
Rite Aid (RAD)
Rite Aid Corporation fell farther than expected today, down 7.47% to $7.87. The nation's third largest pharmacy chain company experienced this unexpected fall after they voiced concern to the public over the outlook on the 2015 fiscal year. The company anticipates drug costs associated with lower-priced generic drugs to rise in 2015. This rise in drug costs is in relation to a delay in the low-priced generics. As a result of this softened uncertain outlook on the upcoming fiscal year, investors lost confidence in the pharmacy chain company and it was on display in today's slide in share price, which was close to a 10% decrease. Although Rite Aid experienced a drop and was the dog of the day; store sales remained unaffected and total sales for the quarter are set in increase 2.6% to $6.43 billion. The company will report official results in sales on June 19.
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