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Network Appliance Hit on Goldman Downgrade

Updated from 9:06 a.m. EST

Getting slammed to the deck this morning is

Network Appliance

(NTAP) - Get NetApp, Inc. (NTAP) Report

. It was recently losing 13.7% to $63.50 after the storage hardware company was downgraded to market outperformer by

TheStreet Recommends

Goldman Sachs


In addition to the downgrade, Goldman analyst Laura Conigliaro dropped the company from her firm's list of stocks it recommends to purchase. Her note this morning did not give a reason for the downgrade.

Network Appliance is expected to earn 10 cents a share, according to the 19-broker

First Call/Thomson Financial

consensus. It reports fiscal third quarter earnings the week of Feb. 15.