On July 21, Ciena rose 3.41% overnight, trading at 391.31 USD/share, with turnover of $750,600.

On the news front, the optical communications sector stabilized and extended its rebound after consecutive sessions of selling pressure since July 13. The prior pullback was triggered by the disclosure of major shareholder share sales on July 15 and broad profit-taking following the sector's sharp rally driven by NVIDIA's planned ultra-high capacity long-distance transmission network project, estimated at $5–10 billion over three years. Communication equipment peers broadly strengthened, with Lumentum up 3.56%, Nokia up 2.58%, and Arista Networks up 1.73%.

On fundamentals, Ciena's latest interim report showed revenue of $2.998 billion, up 36.38% year-over-year, with net profit surging 588.26%. Multiple institutions maintain overweight ratings, and BNP Paribas recently raised its price target to $640 from $625, maintaining an Outperform rating.

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