This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Brocade, RIM, Google: Tech Winners & Losers (Update)

Stocks in this article: BRCD RIMM SNE FIO GOOG MRVL

This story has been updated with closing prices and information on Google and Marvell.

NEW YORK ( TheStreet) -- Brocade Communications Systems (BRCD) was one of tech's losers on Tuesday, dropping 2.22% to close at $4.41 as investors digested the latest downgrade of the network equipment maker.

Analysts at ThinkEquity downgraded Brocade from "Buy" to "Hold" before Tuesday's opening bell, citing the departure of another top executive, increasing competition and macroeconomic uncertainty. On Monday, Brocade announced that its Senior Vice President of Worldwide Sales, Ian Whiting, will be leaving on June 18. Until a permanent replacement is appointed, the company's CEO Mike Klayko will assume responsibility for worldwide sales.

TheStreet ratings downgraded Brocade last month.

Google (GOOG) shares sank 1.41% to close at $570.41 on Tuesday. Meebo, a seven-year old consumer internet platform, announced an agreement to be acquired by Google in a company blog post on Monday. The Internet company is said to improve Google's networking service, Google Plus.

Shares of Sony Corporation (SNE), however, climbed 3.21% to end at $13.20 on Tuesday. The gadget giant announced a new product called Wonderbook based on the popular and highly lucrative Harry Potter book series, at the annual Electronic Entertainment Expo on Monday.

JMP Securities' Alex Gauna upgraded his rating of Marvell Technology (MRVL) from "Market Underperform" to "Market Perform" on Tuesday. The chip maker's share price rose 2.29%, closing at $12.30 on Tuesday.

Research in Motion's (RIMM) shares staged a modest rally after tumbling almost 6% on Monday. The company's stock briefly reached $10.19 during Tuesday morning trading, before retreating slightly to close at $9.98, an increase of 3.36% on RIM's opening price.

Fusion-IO (FIO) shares closed down 0.58% to $18.81 on Tuesday, despite receiving an upgrade from Sterne Agee, which gave the company a $24 price target. The storage specialist's stock has pulled back to an attractive level and has positive, near-term growth drivers, Sterne Agee said.

--Written by Nathalie Pierrepont in New York.

>To submit a news tip, send an email to:

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

This article was written by a staff member of TheStreet.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs