Ciena Corporation's Exposure To Brexit Fallout May Be Less Than Initially Suggested


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Ciena Corporation (NYSE: CIEN) was among the first to offer cautious Brexit commentary, and Nomura said the company's exposure to the Brexit fallout may be less than expected.

"Our follow-up for more detail suggests a lower exposure than we had initially understood. Ciena's UK exposure is lower than the ~10 percent level suggested by the press," analyst Jeffrey Kvaal wrote in a note.

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Kvaal said Ciena's three lead European customers are BT Group plc (ADR) (NYSE: BT), Liberty Global plc - Class A Ordinary Shares (NASDAQ: LBTYA) and Vodafone Group Plc (ADR) (NASDAQ: VOD).

The analyst highlighted that earlier BT was a larger share of European sales and thus the U.K. exposure was near 10 percent.

Shares of Ciena, which makes communications networking solutions, closed Thursday's regular trading at $18.75 and were up 0.8 percent Friday morning, trading at $18.90.


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Posted In: Analyst ColorPoliticsAnalyst RatingsTrading IdeasGeneralBrexitJeffrey KvaalNomura