NEW YORK (
) -- Several stocks trading near $10 were poised to move on above-average volume during Tuesday's regular session.
has dropped 18.1% to $5.70 after providing full-year non-GAAP earnings forecast of 54 to 58 cents a share, compared with the The Street consensus forecast of 60 cents a share.
Stifel Nicolas analyst Aaron Rakers chopped his rating on the stock to hold from buy, according to Barron's. "Brocade's results/guidance/commentary will likely, and justifiably, put significant pressure on shares over the coming days/weeks... We are frustrated with Brocade's results, not just government Ethernet switching, but also the clear market share losses in enterprise and persistent declines in service provider ethernet switching, as well as what we consider a lack of definitive color with the company's strategic direction toward a recovery going forward," Rakers noted, according to Barron's.
The 50-day average daily volume for Brocade is about 16.3 million shares.
has fallen 2.3% to $8.80 in pre-market trading after the company reported lower revenue, but a narrower loss. Revenue for the fourth quarter was $5.8 million, compared to $10.6 million a year ago. The company reported a net loss of $18.3 million, compared with a net loss of $18.7 million for the same period in 2008. For earnings per share, Xenoport reported a loss of 60 cents, compared with a loss of 74 cents the year before. The Street had estimated an 81 cent loss for the quarter.
The 50-day average daily volume for Xenoport is about 2.3 million shares.
has tumbled 5.3% to $8.60 in pre-market trading after the stock was downgraded to underperform from buy at Bank of America Merrill Lynch, according to Barron's.
"Palm's superior platform features have not translated into sufficient carrier support and consumer demand, and we are concerned the window of opportunity may be closing as Google's Android ecosystem gains ground,
Research In Motion revitalizes its portfolio, iPhone increases its presence, and as Microsoft reboots its efforts with Windows Phone 7," analyst Vivek Arya noted. Arya also cut his price target in half to $10, according to Barron's.
The 50-day average daily volume for PALM is about 12.9 million shares.
has edged up 0.6% to $10.10 in pre-market trading after announcing that it was chosen by Japan's Softbank Mobile to upgrade its mobile broadband network. The 50-day average daily volume for Ericsson is about 6.6 million shares.
-- Reported by Andrea Tse in New York
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