Data storage company
McData
(MCDT)
climbed 4.3% in midafternoon.
Sector leader
EMC
(EMC)
has completed its distribution of 81 million McData shares and
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) - Get Report
, 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.
