Ciena Falls More Than 8% on FBR Downgrade

Shares of Ciena Corporation

are getting hit on very heavy volume during Tuesday's trading session. In mid-afternoon trade, CIEN was down more than 8 percent to $16.39. The stock opened near the flat line, and has been heading south ever since. At last check, the stock was sitting near session lows. FBR Capital downgraded the stock from "Outperform" to "Market Perform," on Tuesday morning. They have a $18.00 price target on the stock. Ciena Corporation (Ciena) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.