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Qlogic Falls 12.5% on Downgrade

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Qlogic (QLGC) , a maker of storage infrastructure equipment, was down 12.5% in early trading. Robertson Stephens downgraded the stock to long-term attractive from buy, a day after QLogic posted third-quarter earnings of 28 cents per share, beating the Street's estimate of 26 cents and up sharply from the year-ago 15 cents.

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