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Ciena to buy Cyan for USD 400 mln
2015-05-04 16:16:00| Telecompaper Headlines
(Telecompaper) Ciena has agreed to acquire Cyan for USD 400 million, or USD 335 million net of cash and including Cyan's outstanding convertible notes on an as-converted basis. Ciena said the addition of Cyan will accelerate the availability of a complete system for customers to deliver virtualised networks and services on-demand. The deal is expected to close in Ciena's fiscal fourth quarter. Ciena will assume Cyan's USD 50 million worth of 8.0 percent convertible senior secured notes due 2019. The transaction is subject to certain approvals. The boards of both companies have approved. Cyan also announced its first quarter results, saying revenues grew 89 percent year-on-year to USD 36.0 million. The net loss meanwhile widened to USD 52.9 million or USD 1.11 per share from a loss the year earlier of 15.0 million or USD 0.32 per share. The net loss includes a USD 41.3 million non-cash charge associated with its convertible debt, primarily the result of a 60 percent increase in the company's stock price during the quarter.
2 Small Biotech Stocks Under $10 To Buy On The Pullback
2015-05-03 19:06:30| Biotech - Topix.net
The biotech sector had another tough week and is down five percent from its recent highs in mid-April with only a rally Friday preventing deeper damage. Small-cap concerns have been hit even harder than the main biotech indices as investors have started to flee the high beta sectors of the market recently.
Corning: A Buy As Post-Earnings Sell Off Is Unwarranted
2015-05-03 16:02:07| Electronics - Topix.net
The company's recent earnings report, while not extraordinary, represented progress in all major divisions and did not warrant the about 10 percent sell off in its shares. The company's optical division was the highlight of the quarter due to a recent acquisition and strong demand for the division's products.
Corning: A Buy As Post-Earnings Sell Off Is Unwarranted
2015-05-03 12:47:31| Telecom - Topix.net
The company's recent earnings report, while not extraordinary, represented progress in all major divisions and did not warrant the about 10 percent sell off in its shares. The company's optical division was the highlight of the quarter due to a recent acquisition and strong demand for the division's products.
Corning: A Buy As Post-Earnings Sell Off Is Unwarranted
2015-05-03 11:23:24| Chemicals - Topix.net
The company's recent earnings report, while not extraordinary, represented progress in all major divisions and did not warrant the about 10 percent sell off in its shares. The company's optical division was the highlight of the quarter due to a recent acquisition and strong demand for the division's products.
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