KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Ciena (CIEN) stock experienced a significant rally on Thursday, climbing 15.70% to $84.70 in mid-morning trading, buoyed by upbeat forward guidance despite falling short of Wall Street's earnings expectations for the fiscal fourth quarter. Quarterly Performance Highlights : Earnings Miss : Adjusted earnings came in at 54 cents per share , below analysts’ consensus estimate of 65 cents , according to FactSet. Revenue Beat : Quarterly revenue reached $1.12 billion , surpassing the estimated $1.1 billion . Margin Decline : Gross margin fell to 40.9% , down from 43.1% a year ago, reflecting pricing pressure or cost increases. CEO Commentary : Gary Smith , CEO of Ciena, expressed confidence in the company’s technology leadership and positive industry dynamics : “Our Q4 revenue and strong order flow reflect our significant and increasing technology leadership.” The growing demand for Cloud and AI-d...