Brocade CEO: Telecom Spending, Storage Market Improving

Shares of Brocade (BRCD) are down a negligible 1% year-to-date, and it's been a rocky ride to boot. The networking equipment-maker's CEO Lloyd Carney said the second half of 2016 is shaping up to be a smoother ride higher. 'We are always stronger in the second half,' said Carney. 'If you look at us historically, our Q3 tends to build into Q4 which is our strongest quarter followed by our Q1 which starts off in November.' A soft storage market was a problem for Brocade in the first half of 2016. However, Carney said he is seeing an uptick in large storage switches of late. 'We are connected to every major storage vendor in the world, so we see what is going on,' said Carney. 'We feel very good about the back end of the year.'