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alphst · 10 months

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Ciena Corporation (CIEN) Q2 2023 Earnings Call Transcript

$CIEN Q2 2023 Earnings Call Transcript #earnings #markets #investing

Ciena Corporation (NYSE: CIEN) Q2 2023 earnings call dated Jun. 06, 2023 Corporate Participants: Gregg Lampf — Vice President of Investor Relations Gary B. Smith — President and Chief Executive Officer James E. Moylan, Jr. — Senior Vice President and Chief Financial Officer Scott McFeely — Senior Vice President, Global Products and Services Analysts: Simon Leopold — Raymond James — Analyst Tim…

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#Telecommunication

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americanfreighttrucking · 5 years

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Ciena Announces Intent to Acquire Centina

Industry-leading service assurance and network performance management capabilities strengthen Blue Planet’s Intelligent Automation Solutions

HANOVER, Md.–(BUSINESS WIRE)–Ciena® Corporation (NYSE: CIEN) has entered into a definitive agreement to acquire privately-held Centina, a leading provider of service assurance analytics and network performance management solutions. Centina’s…

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#Business Wire

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grizzlemedia-blog · 5 years

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Ciena Corp. Slides Despite Earnings Beat

Ciena Corporation’s (NYSE: CIEN) stock price fell 6% on Tuesday, and further still on Wednesday, despite beating 1st quarter earnings estimates. While the results were solid, it appears the market was hoping for more after the share price rallied 109% since the beginning of 2018. The networking and communications infrastructure manufacturer reported revenue growth of 21% to $778 million, well ahead of the consensus estimate of $761 million. The company earned $0.21 a share, ahead of the $0.14 analysts expected on a GAAP accounting basis. These results reflect a strong move back to profitability after the company lost $473.6 million, or $3.29 a share, a year earlier.

Webscale Business Now the Key Growth Driver

Ciena’s webscale business, providing equipment to cloud computing companies, grew 64% and now accounts for 22% of revenues. Management highlighted this area of the business as a key driver of future growth. The company’s strongest showing came in Europe, the Middle East, and Africa, where revenues grew 32%. North America, which still accounts for the bulk of Ciena’s revenue, grew 20.5%. Latin America and the Caribbean revenue fell 11%, but now represents a small share of revenue. Asia showed steady growth of 19%. The largest product segment, Networking Platforms, grew 25% to $620 million. Both Software and Software-Related Services and Global Services only managed to add single digit growth, meaning the company is now predominantly earning revenue from its Networking Platforms business.

Possible Slowdown Ahead

Gross margins were in line with consensus at 42.2% while operating margin was slightly better than expected at 9.6%. However, the company indicated that its gross margin in the next quarter may be lower than expected, when it expects sales of $800 to $830 million. Management also indicated that sales may slow later in the year, after an incredibly strong 2018.

Stock Price Outlook

Ciena is well positioned to benefit from further growth in the telecoms, cloud computing and data centre industries. However, the company carries risks, and earnings can be lumpy for a business like this. To a certain extent Ciena’s revenue is dependent on if, and when, its large customers build new capacity. Judging by the company’s 2018 performance many of these customers may already have done their upgrades for the next year or two. The forward PE is not demanding given the 1- and 5-year growth rates, but there is a danger that earnings estimates for 2021 may not be high enough to justify the rating later in the year. Management indicated that they have a backlog that may keep earning growth going in the short term – but that will create a very high base for subsequent growth. There is nothing wrong with Ciena as a company, but right now may not be the time to buy the stock. History has proved that for Ciena and similar companies, the time to buy is when bad news, rather than good news, is in the price. Read the full article

#CIEN #CienaCorporation

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empresa-journal · 3 years

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Does the Ciena Corporation make money in the Cloud?

The Ciena Corporation (NYSE: CIEN) has become a market favorite because of the growth of the cloud and rising US-China tensions. The Baltimore Sun describes Ciena (CIEN) as “the world’s biggest player in optical connectivity.” The Sun calls optical connectivity the backbone of the internet and mobile connections. Thus Ciena provides the infrastructure the cloud operates on. Ciena has little…

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#Ciena’s Cloud Solutions #Does the Ciena Corporation make money in the Cloud?#How Much Cash can Ciena Corp generate?#How Much Money Does Ciena Corp make?#The Ciena Corp (CIEN)#What Value Does Ciena Have?#Will COVID-19 Help Ciena Grow?

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smartwebhostingblog · 5 years

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Stocks To Watch: Tencent Music, Starbucks And Under Armour In Focus

New Post has been published on http://thefaerytale.com/stocks-to-watch-tencent-music-starbucks-and-under-armour-in-focus/

Stocks To Watch: Tencent Music, Starbucks And Under Armour In Focus

Welcome to Seeking Alpha’s Stocks to Watch – a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning.

Investors are prepping for another week of volatility as concerns over the China trade deal and the impact of the U.K. Brexit withdrawal bill are sure to linger. Add in the drama of a yield curve that inverted on the short end and it’s small wonder that the Santa Claus rally is having a hard time materializing. With major indexes having now erased their gains for the year, expect to hear some noise from value investors after seeing the one-month drops in names such as Nvidia (NASDAQ:NVDA) -25%, Target (NYSE:TGT) -22%, Tiffany (NYSE:TIF) -22%, Goldman Sachs (NYSE:GS) -19%, Apple (NASDAQ:AAPL) -18%, Halliburton (NYSE:HAL) -15% and Altria (NYSE:MO) -15%. On the economic front this week, new reads on producer prices, consumer prices and retail sales will be closely watched.

Notable earnings reports: It’s a very thin week for earnings reports, but companies due to spill numbers include Ascena Retail (NASDAQ:ASNA) and Stitch Fix (NASDAQ:SFIX) on December 10; American Eagle Outfitters (NYSE:AEO) and Dave & Buster’s Entertainment (NASDAQ:PLAY) on December 11; Phototronics (NASDAQ:PLAB) and Oxford Industries (NYSE:OXM) on December 12; Adobe (NASDAQ:ADBE), Costco (NASDAQ:COST) and Ciena (NASDAQ:CIEN) on December 13.

IPOs expected to price: Tencent Music Entertainment (TME) is pressing ahead with its IPO as the company looks to take advantage of the 90-day pause on tariffs between the U.S. and China. The music streaming service plans to sell 41M ADSs in the offering and selling shareholders will also unload just under 41M ADSs. Tencent Music owns three streaming music platforms in China – QQ Music, Kuguo, and Kuwo – with a count of over 700M monthly active users. Heading into the IPO, Tencent (OTCPK:TCEHY) holds a 58.1% stake in Tencent Music and Spotify (NYSE:SPOT) owned a 9.1% stake.

IPO lockup expirations: Greenpro (OTCQB:GRNQ) on December 10; US Xpress Enterprises (NYSE:USX) and Charah Solutions (NYSE:CHRA) on December 11; Avalara (NYSE:AVLR), Verrica Pharmaceuticals (NASDAQ:VRCA) and Puixin (NYSE:NEW) on December 12.

Analyst quiet period expirations: Vapotherm (NYSE:VAPO) and Eton Pharmaceuticals (NASDAQ:ETON) on December 10; Weidai (NYSE:WEI) on December 11;

Projected dividend changes (quarterly): Abbott (NYSE:ABT) to $0.30 from $0.28, AES (NYSE:AES) to $0.14 from $0.13, Amgen (NASDAQ:AMGN) to $1.39 from $1.32, Boeing (NYSE:BA) to $2.08 from $1.71, Franklin Resources (NYSE:BEN) to $0.25 from $0.23, Lilly (NYSE:LLY) to $0.57 from $0.5625, Realty Income (NYSE:O) to $0.221 from $0.2205, AT&T (NYSE:T) to $0.51 from $0.50, Ventas (NYSE:VTR) to $0.81 from $0.79, ABM Industries (NYSE:ABM) to $0.18 from $0.175, Balchem (NASDAQ:BCPC) to $0.46 from $0.42, SEI (NASDAQ:SEIC) to $0.32 from $0.30, Urstadt Biddle (NYSE:UBA) to $0.275 from $0.27, WD-40 (NASDAQ:WDFC) to $0.59 from $0.54.

60 Minutes: Tesla (NASDAQ:TSLA) CEO Elon Musk was interviewed by Leslie Stahl for the weekly news show. In a clip already released, Musk said “I don’t really want to try to adhere to some CEO template.” Musk also stated that the EV automaker would have interest in setting up shop in an old General Motors (NYSE:GM) plant if one is available.

Analyst/investor meetings: Arthur Gallagher (NYSE:AJG), Enbridge (NYSE:ENB), American Water Works (NYSE:AWK), ServiceMaster Global (NASDAQ:SERV), TreeHouse Foods (NYSE:THS) and Crown Holdings (NYSE:CCK) on December 11; Aimmune Therapeutics (NASDAQ:AIMT) and Hess (NYSE:HES) on December 12; ImmunoGen (NASDAQ:IMGN), Health Insurance (NASDAQ:HIIQ) and Danaher (NYSE:DHR) on December 13; Hartford Financial (NYSE:HIG) and Centene (NYSE:CNC) on December 14.

Spotlight on coffee: Starbucks (NASDAQ:SBUX) hosts its biannual investor day event on December 13. The meeting will occur about a month after Starbucks announced a round of corporate-level job cuts. While the company isn’t directly in the line of fire of tariffs, an escalation of the U.S.-China trade battle could end up hurting its business if Beijing slows the regulatory process or a consumer backlash pops up.

Spotlight on Under Armour: Under Armour (UA, UAA) will hold an investor meeting on December 12. CEO Kevin Plank, President, COO Patrik Frisk, CFO David Bergman and other Under Armour execs will provide an overview of the company’s long-term strategy, financial outlook and key initiatives to deliver sustainable, profitable growth and shareholder value.

Capitol Hill watch: Google (GOOG, GOOGL) CEO Sundar Pichai is due to appear before a House panel on December 11 in a hearing rescheduled from last week. Height Capital Markets expects the tough questions to be asked to Pichai by lawmakers to be just the start, not the end. The firm thinks Big Tech companies will be exposed to regulatory headline risk into 2019, even as it predicts final legislation will be tough to pass both houses. The House is also slated to vote next week on a bi-partisan measure that would punish drugmakers trying to game Medicaid’s rebate system to garner bigger profits.

FCC watch: The FCC is due to start its quadrennial review of some media ownership rules, including the issue of owning multiple stations in a single market. Companies watching the developments include Entercom (NYSE:ETM), Emmis Communications (NASDAQ:EMMS), Cumulus (NASDAQ:CMLS), Cox Radio (CXR), Clear Channel, CBS, Disney (NYSE:DIS), Beasley Broadcasting (NASDAQ:BBGI), iHeartMedia (OTCPK:IHRTQ).

Short report: Nasdaq is due to issue a new short interest report on December 11 for positions settled by November 30. Stocks with the highest level of short interest as a percentage of total float at the time of the last Nasdaq report included GNC Holdings (NYSE:GNC), Lannett Company (NYSEMKT:LCI), J.C. Penney (NYSE:JCP), Carbo Ceramics (NYSE:CRR), Carvana (NYSE:CVNA), Buckle (NYSE:BKE), Revlon (NYSE:REV), RH(NYSE:RH), Dillard’s (NYSE:DDS), Camping World (NYSE:CWH), B&G Foods (NYSE:BGS) and Pyxus International (NYSE:PYX).

M&A tidbits: Lumentum’s (NASDAQ:LITE) acquisition of Oclaro (NASDAQ:OCLR) is expected to close on December 10. Shareholders with Akebia Therapeutics (NASDAQ:AKBA) and Keryx Biopharmaceuticals (NASDAQ:KERX) vote on the merger between the two companies on December 11. A special meeting is scheduled on December 11 for shareholders of Dell Technologies (NYSE:DVMT) to vote on the Class V common stock exchange transaction. CVS Health (NYSE:CVS) has a deadline of December 14 to issue a briefing defending the Aetna (NYSE:AET) deal.

Sales updates: Franklin Resources (BEN) on December 10, TD Ameritrade (NASDAQ:AMTD) on December 11; E*Trade Financial (NASDAQ:ETFC) and Charles Schwab (NYSE:SCHW) on December 14.

More Prime Time: It’s another notch on the belt for Amazon (NASDAQ:AMZN) as its streaming service launches on Comcast’s (NASDAQ:CMCSA) Xfinity X1 platform.

Cyberwatch: Zix (NASDAQ:ZIXI), Calix (NYSE:CALX) and GigCapital (NYSE:GIG.U) are scheduled for one-on-one meetings at the Cowen 5th Annual Networking & Cybersecurity Summit on December 12.

Barron’s mentions: The share price drop on Caterpillar (NYSE:CAT) looks overdone, reasons Jack Hough. He notes that a midyear price increase by Caterpillar on machines helped offset higher costs related to steel and other tariffs, while booked orders are strong for 2019. Applied Materials (NASDAQ:AMAT) is also seen as being on the cheap side, with shares trading at only 10X forward earnings. That’s despite the huge upside for Applied Materials in AI chips. There’s also a deep dive on Lam Research (NASDAQ:LRCX) after the company’s bumpy road.

Sources: Nasdaq, EDGAR, Reuters, CNBC, Bloomberg

Editor’s Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.

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lazilysillyprince · 5 years