Ciena Corporation (CIEN): Today's Featured Technology Laggard

Ciena Corporation ( CIEN) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.4%. By the end of trading, Ciena Corporation fell $0.28 (-1.4%) to $19.35 on light volume. Throughout the day, 2,219,388 shares of Ciena Corporation exchanged hands as compared to its average daily volume of 3,986,900 shares. The stock ranged in price between $19.33-$19.88 after having opened the day at $19.75 as compared to the previous trading day's close of $19.63. Other companies within the Technology sector that declined today were: MeetMe ( MEET), down 15.9%, Friendfinder Networks ( FFN), down 15.4%, InfoSonics Corporation ( IFON), down 10.4% and Vimicro International Corporation ( VIMC), down 9.4%.

Ciena Corporation provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic worldwide. Ciena Corporation has a market cap of $2.0 billion and is part of the telecommunications industry. Shares are up 22.6% year to date as of the close of trading on Tuesday. Currently there are 11 analysts that rate Ciena Corporation a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Ciena Corporation as a sell. Among the areas we feel are negative, one of the most important has been weak operating cash flow.

On the positive front, Novatel Wireless ( NVTL), up 13.6%, Canadian Solar ( CSIQ), up 13.1%, Orion Energy Systems ( OESX), up 12.4% and Yelp ( YELP), up 12.1% , were all gainers within the technology sector with Adobe Systems ( ADBE) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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