Brocade Dives 20.6% on Warning
Brocade
(BRCD)
was down 20.6% in midmorning after hitting a 52-week low of $33.97. After the close Wednesday, the company warned that second-quarter growth would be "very modest" at best, and perhaps flat with the first quarter.
Several analysts piled in with downgrades and estimate cuts for Brocade and other stocks in the storage segment. Sector giant
EMC
(EMC)
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was down 18.6% after striking a year-low of $34.
Emulex
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was down 6.1%.
QLogic
(QLGC)
was down 14.8% after dipping to a 52-week low of $33.81.
