Brocade Getting Broken (BRCD)

Posted in pre-market 
August 21st, 2009

Brocade Communications Systems, Inc. (NASDAQ: BRCD) is trading lower after it beat earnings estimates at $0.12 EPS vs. $0.11 estimates, but $493.3 million in revenues was lighten than expected.  The CEO said that predicting a recovery is like grabbing water… Sometimes saying less is better than more…. At 8:47 AM EST we have seen 1.6 million shares trade hands and the stock was down about 6.8% at $7.50 after closing yesterday at $8.05. This drop this morning is on the heels of over 661,000 shares having traded after the close Thursday.  Average volume here is 15 million shares and the 52-week high is $9.02. -JON OGG

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