Service providers will be able to launch Ethernet services more quickly and make them work across other carriers more easily with a new set of standards for carrier Ethernet equipment, backers of the specifications say.

After several days of gains, tech stocks dropped Thursday as markets declined on disappointing news from Europe, where government officials are meeting to try to solve the sovereign debt crisis afflicting several countries in the euro area.

“The new network will form the backbone for IP and Ethernet products AAPT will offer to the market,” according to Ciena general manager

Latest news on new appointments and management changes

Major U.S. stock markets on Friday closed for a sixth straight week of losses, the worst weekly losing streak since the third quarter of 2002, during the dot-com bust.

Networking vendor, Aruba has appointed Sue Stokes to a newly created role as its northern region territory manager.

Ciena plunged deeper into the red following its acquisition of Nortel Networks' metro Ethernet business, with sales of its legacy products stagnating, it reported Wednesday.

This year saw the slow, painful dismantling of Nortel. Its gradual exit from the tech scene played out the entire year, as each month brought news of more layoffs, markdowns or sell-offs.