NEW YORK ( TheStreet) -- Comcast Communications (CMCSA) - Get Report stumbled for a second straight day, following reports that the cable giant and other owners of the Weather Co. are considering a sale of the Weather Channel holdings. Brocade Communications Systems (BRCD) spiked by nearly double digits on its strong earnings performance and upgrade.
Comcast fell 2.7% to close at $56.78.
The cable giant and other owners of the Weather Co., which owns the Weather Channel, are reportedly allowing the Weather Channel to move forward with considering a sale. The Weather Channel reportedly has hired Morgan Stanley (MS) - Get Report and PJT Partners to explore its options, including a sale, according to a Bloombergreport.
The Weather Channel has reportedly held early discussions with media and technology companies about potentially snapping up its operations, which is the digital business of the Weather Co, according to Bloomberg.
Other owners of the Weather Co. include Blackstone Group (BX) - Get Report, Bain Capital and Comcast's NBCUniversal, according to Bloomberg. These entities acquired the Weather Co. from Landmark communications in 2008 for about $3.5 billion, according to a Zacks report.
Brocade Communications Systems surged 8.9% to finish the session at $10.85, on a day when the broader markets fell sharply.
The storage area networks company reported a third-quarter earnings beat, posting net income of 27 cents a share on revenue of $551.8 million. Wall Street was expecting the company to post earnings of 22 cents a share on $550.4 million.
"Our IP Networking revenue growth of 16% continues to outpace the market with strong performance from both service provider and U.S. federal customers," said CEO Lloyd Carney, in a statement.
Meanwhile, Goldman Sachs raised its Brocade recommendation to neutral from sell, according to Briefing.com.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.