Brocade (NASDAQ:BRCD) recorded quarterly revenues of $501 million or a decrease of one percent year-over-year, resulting in a diluted earnings per share of $0.05 on a GAAP basis and $0.13 on a non-GAAP basis.
GAAP net income was $22.4 million versus a loss of $66.1 million a year ago.
Shares of Brocade are down about 10.5% following the report.
Today, Canaccord Genuity (TSE:CF.CA) technology analyst Paul Mansky raised his rating on Brocade Communications from hold to buy and maintained his $7 target on the stock. Mr. Mansky said, “We view the challenges the company faces as fully discounted. With the stock trading at the low end of our $5 to $7 range, we believe there are the potential for attractive returns over the next 12 months.”
Red Robin Gourmet Burgers (NASDAQ:RRGB) cut its outlook, saying that for the fiscal year 2010 they expect revenues of $872 million to $880 million and net income of $1.10 to $1.30 per diluted share.
Red Robin shares are lower by 12.2%.
New York & Company (NYSE:NWY) was down yesterday after posting first quarter net sales of $237 million and a net loss that remained flat compared to last year at $4.9 million.
Today New York & Company continues to see their share price slide, currently off 9.2%.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
VF is about finding the next value/growth sector/investment
Launch related slideshow
Monday 6/17 Insider Buying Report: VSTM, ACG
Monday 6/17 Insider Buying Report: STRA, VRX
Friday 6/14 Insider Buying Report: ARP, UHAL
Daily Wrap: June 17, 2013
Deal News: LOW, TEF, SFD
Johnson & Johnson Acquires Prostate Cancer Drug
Analyst Moves: CIT, HOS, HPY
Analyst Moves: HIG, MU, DLTR
Analyst Moves: UNP, PXD, LAD
Monday Sector Leaders: Vehicle Manufacturers, General Contractors & Builders
Monday Sector Laggards: Precious Metals, Apparel Stores
Friday Sector Leaders: General Contractors & Builders, Advertising Stocks
Monday's ETF with Unusual Volume: MORT
Monday's ETF Movers: AXUT, GLDX
PFF, EWV: Big ETF Outflows
Daily Dividend Report: CHK, SRC, KCAP, ROP, CPT
Daily Dividend Report: ABT, LHO, DX, AT, RLJ
Daily Dividend Report: GE, BEN, EQR, ZMH, WTW
Jobless Claims Fall to New Five Year Low
US Employers Add 175k in May
Jobless Claims Fall By 11,000
Weekly Market Wrap: June 14, 2013
Weekly Market Wrap: June 7, 2013
Weekly Market Wrap: May 31, 2013
Week Ahead Market Report: June 17, 2013
Week Ahead Market Report: June 10, 2013
Week Ahead Market Report: June 3, 2013