Shop Talk:Hurricane Sandy Impacts

The US markets will be closed again Tuesday.There will be a strong effort to reopen on Wednesday.
This blog is on battery power.The newsreel feature should continue to operate 24/7 as normal.It is in the right hand column.Thank you for your patience at this difficult time.
First responders are being run ragged.Sirens blew all day.One can imagine the water rescues that are taking place,as well as downed wires and fallen trees on cars.Signing off for now.

Canada Approves Nortel Deal

The Canadian Ministry of Industry has signed off on Ciena Corporation's acquisition of Nortel's Metro Ethernet Networks business.Nortel is undergoing a major restructuring.The Toronto telecom firm has been shedding a number of businesses,selling assets to Hitachi,Avaya and GENBAND.Nortel's business spans more than 150 countries,bringing in 2008 revenue of more than 10 billion dollars U.S.It is currently in bankruptcy proceedings.Nortel shares are traded on the OTC pink sheets.
Ciena had already obtained U.S. approval of the deal.Ciena CEO Gary Smith said they have always believed that the transaction provided a substantial benefit to Canada and the Canadian marketplace.The deal could roughly double Ciena's revenue and workforce over time.The company,headquartered in Linthicum,Maryland,employs around 2100 workers and posted revenue of 176.3 million dollars in its last fiscal quarter.It specializes in fiber optic technologies,communications networking equipment,software,services,processing systems and products.Ciena is listed on the NASDAQ exchange.

NASDAQ Top Performers

The NASDAQ top performers for Q2 were Marvell Technology(MRVL),up 6.78,or 62.3%;and NII Holdings(NIHD),up 15.71,or 49.4%.

NASDAQ Top Three

The top three performers on the NASDAQ exchange for 2007 were Intuitive Surgical(ISRG),Foster Wheeler(FWLT) and Research In Motion(RIMM).All three are still highly regarded by many investors.Their work is admired worldwide,which is a key to success in today's variable markets.