FX.co ★ Ciena To Repurchase Upto $1 Bln Of Common Stock, Stock Up

Ciena Corp. (CIEN) announced on Wednesday a program aimed at repurchasing up to $1 billion of its common stock. The repurchase initiative will be financed through existing cash reserves or cash generated from ongoing operations. The program is set to begin in fiscal year 2025 and will conclude by the end of fiscal year 2027. At present, Ciena's stock has risen by 4.43 percent, reaching $64.17 on the New York Stock Exchange.