Nearest Support: $12.36
Catalyst: Earnings, Guidance Miss Shares of networking equipment maker Aruba Networks ( ARUN) are getting shellacked this afternoon, down more than 25% as I write following a first-quarter loss and lower guidance announced after the bell yesterday. The firm earned 11 cents per share for the quarter, a penny short of the 12 cents that analysts were expecting -- but the guidance dip is what's doing the stock in today. From a technical standpoint, Aruba Networks is broken. The stock gapped down hard on this morning's open, shoving shares all the way down to support at their $12.36 52-week low. While it's positive that shares are catching a bid down there, it's a little too early to say that the selloff is over. After all, shares have halved in the last month alone.