Jim Cramer Blog

Shares of Brocade Communications Systems Inc. were down more than 6 percent Thursday after an analyst downgraded the stock and said the company faces a more difficult storage market.
San Jose-based Brocade (NASDAQ:BRCD - News) was at $9 in early afternoon trading after dropping as low as $8.97. The stock closed the day at $9.03.

Goldman Sachs analyst Laura Conigliaro cut her rating on Brocade to "neutral" from "buy" and said that the market is weak to begin with and some of Brocade's share may be taken by San Jose-based Cisco Systems Inc. (NASDAQ:CSCO - News).
The company's stock hit a high of $10.58 on March 26, more than double its 52-week low of $4.91 it hit in early August 2006.
Published May 3, 2007 by the Silicon Valley / San Jose Business Journal

Labels: BRCD, Brocade Communications Systems Inc.