Benzinga’s News Update (CIEN, PBCT, FSLR, DHI, BJS)

Ciena Corporation (NASDAQ: CIEN) declined 5.60% to $12.45 on 3.14 million shares in the morning trading hours after Ciena Corp beat other vendors in a three day auction and won the deal to buy Nortel Networks for $769 million. The 52 week trading range for CIEN is $4.98 - $16.64. So far in 2009, CIEN climbed up around 85%.

People's United Financial, Inc. (NASDAQ: PBCT) is up 3.16% to $16.99 on 865K shares after People's United announced that it has entered into an agreement to acquire Financial Federal Corporation at around $738 million. The 52 week trading for PBCT is $14.72 - $19.38. So far in 2009, PBCT declined by around 4%.

First Solar, Inc. (NASDAQ: FSLR) today announced that it is selling a 21 megawatt energy project to NRG Energy, Inc. (NYSE: NRG) for an undisclosed amount. The 21 megawatt solar energy project will provide electricity which will be sold to Southern California Edison (NYSE: EIX) under a 20-year power purchase agreement. FSLR gained 1.47 to $122.95 on 154K shares in the morning trading hours. So far in 2009, FSLR declined 10%.

D.R. Horton, Inc. (NYSE: DHI) soared 4.15% to $10.77 on 898K shares after Citigroup Global Markets upgraded D.R. Horton from Sell to Hold today. The 52 week trading range for DHI is $3.79 - $13.90.

BJ Services Company (NYSE: BJS) jumped up 3.05% to $19.25 on 279K shares in the morning trading hours. Today BJS announced fourth quarter loss of $9.95 million from net income of $168 million from the same quarter last year. BJS reported revenues of 878.2 million as compared to $1.5 billion in the year ago period. Analysts expected BJS to report loss of $0.10 per share but BJS reported loss of only $0.03 a share for the fourth quarter.