Ciena (Nasdaq:CIEN) Downgraded on Nortel Acquisitions

Shares of Ciena (Nasdaq:CIEN) plunged after they were downgraded by (NYSE:UBS), based on the acquisition of Nortel assets which are expected to pressure margins.

The reasoning by UBS was Ciena "is now a broad-based optical equipment company less tied to individual product cycles as in the past."

In order for the shares of Ciena to rise, UBS said to push shares higher.

UBS downgraded Ciena (CIEN) to a "Sell" rating. Ciena closed Monday at $22.03, losing $1.47, or 6.26 percent. UBS has a price target on Ciena of $19.