Updated from 8:06 a.m.

Ciena

(CIEN) - Get Report

was up 1% in late morning trading as fiber-optic networks equipment makers gave up some of their morning gains. Ciena traded as high as $62.35 this morning after it posted second-quarter earnings of 20 cents a share, beating its own estimates and topping analysts' expectations of 16 cents, and up from 6 cents in the year-ago period.

The maker of fiber-optic networking equipment said revenue rose to $425.4 million from $185.7 million. Ciena also promoted Gary Smith to CEO.

JDS Uniphase

(JDSU)

was up 3.5% at $21.77, after trading as high as $22.21, while

ONI Systems

(ONIS)

was down 0.4% at $34.73 after trading as high as $36.20 earlier.

Network router maker

Cisco

(CSCO) - Get Report

followed a similar track, down 0.8% after trading up 3.7% in the first hour.