lt cap,

According to today's Barron's William Blair has also jumped on the CIEN bandwagon, saying that the CC tomorrow should be quite a good one. 

I'm not sure I can account for what's going on in the sector. INFN had a fine quarter, but is far ways away from it's 52 week high around $24. Two quarters ago, CIEN had a good report, everyone was lauding it (and the analyst from either yesterday or today's Barrons did put a $28-$30 PT on it, as the CC propelled it to 25 or so. While last quarter was not good news, beating it down into the teens seemed a bit harsh. (It has recovered to a bit over 20.) As I've said before, I have to look at these optical networkers as a long term proposition. Hence why the guy you quoted said something to the effect that whether the CC was good or bad - buy this stock. 

I may never 'get it' - INFN as low as the $13's (well briefly) and they've done nothing wrong - and Fallon is being publicly bullish about the Transmode acquisition and its integration into INFN, and he expects it to add to revenues rather quickly. Why there's not a lot more enthusiasm for a sector that is going to see robust secular growth just beats me. But that's ok.

Analysts are only looking Quarter to Quarter, never mind that growth will be solid and sustainable down the road.  It is frustrating but this is the market we have to deal with.

If the analysts are right that CIEN can deliver a good quarter, it should help te entire sector.  on a related note, CSCO has been active on the acquisition front.  It too bodes well for the sector as it means they have strong plans for future products which should spark growth down the road.  

Fitch upgraded NOK's debt saying its outlook is positive, while Charter Equity (who are they??)  downgrades NOK to market underperform.  This, after the stock has already dropped from the 7.30s

Short term it is tough to guess let alone know why the heck these analysts are making the calls they are, however, the future still looks solid for the now consolidated Networking and Wireless equipment space.