Shares of Brocade(BRCD Quote) jumped 3.8% to $3.67 after it lowered its purchase price of Foundry Networks(FDRY Quote) by $400 million.
The data-storage specialist, W had agreed to acquire Foundry for $3 billion in July but announced late Wednesday that it would cut the amount to $2.6 billion. Shares of Foundry were up 15.7% to $15.04 in recent trading. Expedia(EXPE Quote) shares plummeted 15.2% to $10.18 after falling a penny short of Wall Street earnings expectations. The online travel site also cautious views going forward, noting that the softness that it saw at the end of the second quarter in the U.S. and U.K. has since spread globally. Shares of EMC(EMC Quote) were up 6.4% to $11.18 after hedge fund Pershing Square Capital Management revealed in an SEC filing that it holds 39.9 million shares, or about a 2% stake in the company.- Loading Comments...
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