Stock Market Update

[BRIEFING.COM] The major averages are little changed from previous levels, continuing to trade with modest gains. 

Ciena (CIEN 343.69, +25.15, +7.90%) is one of the best-performing S&P 500 names today, surging higher after AT&T (T 27.85, +0.32, +1.16%) announced a $250+ billion commitment over five years to expand its fiber, 5G wireless, and satellite networks across the U.S. As a key supplier of high-capacity optical networking gear, Ciena stands to capture significant order flow from AT&T's massive fiber backbone upgrades, building on their long-standing supplier partnership and recent multi-year contracts.

Meanwhile, Centene (CNC 38.89, -4.43, -10.23%) is sharply lower after the company's CEO said at a conference that Affordable Care Act membership declines could be worse than previously projected.