On Monday, Shares of Ciena Corporation (NYSE:CIEN), subtract -2.84% and closed at $20.21 in the last trading session. CIEN stock opened its last trade at $20.72 and after floating in a range of $20.21 to $20.87. The company’s Market capitalization is $2.81 Billion with the total Outstanding Shares of 2.81 Billion. During the 52-week trading session the minimum price at which share price traded, registered at $15.61 and reached to max level of $25.46. Telecom Egypt (te) (Ticker: ETEL.CA; TEEG.LN) is deploying Ciena’s® (CIEN) GeoMesh solution and packet-optical platforms for reliable, low-latency connectivity to meet surging demands for high-bandwidth services on its national terrestrial network and submarine links between the Mediterranean and Asia. With a more agile and scalable network, Telecom Egypt’s wholesale carrier, service provider, internet content provider and consortium customers will be able to provide diverse data transit routes for international data center interconnect (DCI), disaster recovery, cloud-based services, and other high-capacity services for enterprise and consumer end-customers.
With more than 160 years of operational history, Telecom Egypt is the largest provider of fixed line services in the Middle East and Africa. Telecom Egypt offers a complete range of international telecommunications services, including voice, data, dark fiber, colocation and tailored data solutions. Its unique geographic location spans about 1,000 km on the Red Sea and 1,000 km on the Mediterranean Sea, and connects more than seventeen cable systems through seven diversified routes and five landing stations across Egypt.
MagneGas Corporation (NASDAQ:MNGA), jumped 8.29% and closed at $0.674 in the last trading session. MNGA stock opened its last trade at $0.65 and after floating in a range of $0.65 to $0.70. The company’s Market capitalization is $32.79 Billion with the total Outstanding Shares of 50.75 million. During the 52-week trading session the minimum price at which share price traded, registered at $0.53 and reached to max level of $2.50. MagneGas Corporation (“MagneGas” or the “Company”) (MNGA) (MNGA) a leading technology Company that counts among its inventions a patented process that converts renewable and waste liquids into innovative MagneGas2® fuel, a replacement for acetylene, declared recently that it has reached its leading equipment sale to date with a Letter of Intent (“LOI”) to manufacture and deliver certain equipment and supplies to a company based in Germany. MagneGas will receive $2.65 million for its proprietary Gasification and Sterilization systems and will supply MagnesGas2® fuel and cylinders. The sale marks a new era for the Company as it seeks to expand the availability of its technology and MagneGas2® fuel across the European continent in the global $5 billion metal cutting fuel market.
Under the terms of the LOI, MagneGas will manufacture and deliver: 1) A 300KW stationary Gasification system: 2) A 100KW mobile Sterilization system: 3) 250 cylinders full of MagneGas2®; and 4) 50 MagneGas regulators. A deposit of $25,000 has been received, with progress payments totaling $2.625 million due upon signature of the definitive agreements, construction completion and delivery of systems with related supplies. The LOI calls for exclusive distribution rights in Germany, with an option to purchase rights to certain additional countries with system deployments.