Shares of fiber optic specialist Ciena Corporation (NASDAQ:CIEN) are surging more than 9% in Thursday's pre-market session, reaching a session high of $25.74 after the optical network company reported strong fiscal second quarter results that suggests weak corporate IT and carrier spending from the likes of AT&T (NYSE:T) and Verizon (NYSE:VZ) is no longer an issue.
Combined with solid guidance for the third quarter and fiscal year, CIEN stock deserves a long look for investors who are looking to play the recovery in networking equipment gear. CIEN stock - up just 5% this year - won't excite with breathtaking gains, but this company, which has just beaten earnings by a whopping 16 cents, has now grown revenue in each of the past seven quarters. The 16-cent beat underscores how under-appreciated CIEN stock has been in terms of Street's projections.
