On July 28, Ciena fell 6.26% in regular trading, trading at $339.32/share, with turnover of $138 million.

On the news front, the optical communications sector's prior rebound failed to sustain momentum, with technical selling pressure not yet fully digested. The sector came under renewed pressure, dragging communication equipment stocks broadly lower. Applied Optoelectronics fell 12.29%, Lumentum dropped 11.3%, Arista Networks declined 5.13%, Nokia lost 5.19%, and Cisco slipped 1.27%.

On the fundamental side, Ciena's latest interim report showed revenue of $2.998 billion, up 36.38% year-over-year, with net profit surging 588.26%. BNP Paribas previously raised its target price to $640 and maintained an outperform rating. However, short-term sector-wide technical selling pressure continues to weigh on the stock price despite the strong earnings backdrop.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)