Ciena Corporation (NYSE: CIEN) provides hardware, software, and services for networking systems worldwide.The company’s return on equity is average at 10.4% and so is the profit margin at 9.2%.

Adjusted earnings of 33 cents a share were also higher than analysts’ expected 30 cents a share (based on data published in The Street). The company's quarterly sales increased +21% year-over-year to $778.5 million, surpassing analysts’ estimate of $761 million (based on FactSet data).A major contributor to the revenue growth was Ciena's converged packet optical unit, whose sales surged  +71% surge to reach $548.9 million. Ciena bought back around 600,000 common shares worth $21.2 million during the quarter.    

Segment-wise, revenue for the quarter was Space Systems $243 million, Imagery $213 million and Services $68 million. Total EBITDA for the quarter stood at $84 million compared to $116 million in the previous quarter.The final EBITDA figures segment wise stand as: Space Systems -$29 million, Imagery $122 million and Services $6 million. As part of its restructuring plans, the company will sell its Palo Alto facility as well as amend its credit agreement as steps to strengthen the balance sheet. It has also decided to continue operating the GEO Comsat business to right size the organization to better align its costs with revenue.

Juniper Networks (NYSE: JNPR) announced earnings results on January 29 and the results disappointed investors.This could be another bad sign for the stock. The Tickeron AI Prediction tool generated a bearish signal on Juniper on February 25.

Shares of the American multinational technology conglomerate Cisco Systems Inc. soared ~1.5% on Tuesday, after people familiar with the event confirmed that Cisco initiated talks to purchase optical chip technology company Luxtera Inc. Although Cisco - the biggest maker of networking equipment - and representatives for Luxtera are yet to confirm this ongoing negotiation, sources have confirmed that Cisco has beaten several rival bids coming from companies like Intel Corp. (INTC) and Broadcom Inc. (AVGO) to reach this advanced stage of negotiation. According to sources, the transaction has not yet been completed, nor has the final price for the closely held company been determined.The additional technology may also help Cisco in rekindling its growth cycle again, which has been struggling amidst an industrywide migration to cheaper machinery that uses open-source software.  

Ciena Corp. (NYSE: CIEN) is one of the few that has been able maintain its momentum and keep within its trend. We see on the daily chart that the stock has formed a trend channel over the last six months and the stock just bounced off of the lower rail of that channel.Most tech stocks have fallen below their 13-week and 52-week moving averages. Ciena operates in the communication equipment group within the tech sector.