McData Up 4.3% on Price Weakness
Data storage company
McData
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climbed 4.3% in midafternoon.
Sector leader
EMC
(EMC)
has completed its distribution of 81 million McData shares and
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Credit Suisse First Boston
said the resulting price weakness in McData represents a buying opportunity.
CSFB said its channel checks indicate continued strong demand for storage products.
EMC was down 3.9%.
Meanwhile,
Network Appliance
(NTAP)
, another storage company, was down 7.3% after hitting a 52-week low of $34.50. The company is due to post earnings after the close.
