VOLUME ALERT: EZchip Semicoductor (EZCH, JNPR)

Posted in General 
July 6th, 2009

EZchip Semiconductor Ltd. (Nasdaq: EZCH) shares are down more than 4 percent to $13.15 and have traded more than their average daily volume by 11:30 Eastern, as the stock may be losing some of its luster among momentum traders. The stock had been recommended by CNBC’s Jim Cramer in recent weeks, and now is seeing a technical failure after it could not rise above the May highs.

The stock also may be seeing some continued selling after Jefferies & Co. raised concerns late last week that Juniper Networks Inc. (Nasdaq: JNPR), which accounts for about half of EZchip’s revenue, plans to replace at least part of the EZchip products it uses with a home-grown technology in coming years. — Mike Tarsala

Comments are closed