Brocade Trading Heats Up on Possible Sale (BRCD)

Posted in pre-market 
October 5th, 2009

Brocade Communications Systems, Inc. (NASDAQ: BRCD) is trading higher after the company has reportedly up for sale.  The WSJ noted that the storage area networker could be a target of H-P or Oracle.  The company currently has a market cap of $3.2 billion and trailing revenues of about $1.5 billion.  Shares are indicated higher in pre-market trading.  Trading volume is light because there is still two hours until the open.   9:10 AM EST UPDATE: up $1.04 at $8.68 on almost 3.4 million shares…

7:35 AM EST:  We have seen 9,000 shares trade as of 7:35 AM EST, but shares are up at $8.50 after closing at $7.65 Friday and its 52-week high is $9.02.  With an average volume of 16 million shares, this trading volume is going to start really surging after more trading is allowed at 8:00 AM EST. -JON OGG

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