Price/Volume Surge: Foundry & Brocade (FDRY, BRCD)

Posted in pre-market 
November 10th, 2008

Foundry Networks, Inc. (NASDAQ: FDRY) is trading higher in pre-market trading after it and acquirer Brocade Communications Systems, Inc. (NASDAQ: BRCD) agreed on Friday to revised merger terms.  Foundry stockholders would be entitled to receive $16.50 per share in an all-cash transaction at the closing of the deal, as previously announced by the companies on Oct. 29, 2008.

Brocade then raised its actual forecast today, making these shares even more attractive for the day traders.

At 9:25 AM EST Foundry Networks, Inc. (NASDAQ: FDRY) is up 8% at $15.59 on more than 500,000 shares and Brocade Communications Systems, Inc. (NASDAQ: BRCD) is up 8.5% at $4.17 on almost 20,000 shares.

Jon C. Ogg
November 10, 2008

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