(RKUS)


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  • Barrons.com14 hours ago

    Brocade Tumbles Despite Q3 Earnings Beat, Bulls Scarce

    Brocade Communications (BRCD) is lower Friday, despite its upbeat third-quarter earnings report. Piper Jaffray’s Andrew Nowinski reiterated a Neutral rating but raised his price target $1 to $9: Brocade reported FQ3(Jul) results that were slightly above the high-end of guidance, driven by a strong contribution from Ruckus. However, excluding Ruckus, the Ethernet segment was below expectations, primarily due to weaker than expected US Fed demand. Fibre Channel storage results were in-line with expectations, which was somewhat surprising given the strong demand trends reported by NetApp, Pure Storage and Nimble. While the Ruckus acquisition is performing better than expected and the company has yet to realize any cost synergies, we remain concerned with weak performance in the Storage and IP Ethernet segments.  RBC Capital Markets’ Mitch Steves reiterated a Sector Perform rating on the stock: Brocade reported solid results at $591M/$0.21 vs. street at $567M/$0.17, however we note that the beat was inorganic with Ruckus contributing $78M in the quarter vs. expectations closer to $50-60M.

  • 24/7 Wall St.18 hours ago

    Investors Send Brocade Shares Into the Fire After Earnings Beat

    When Brocade Communications Systems reported its fiscal third-quarter results on Thursday, it beat estimates handily on both the top and bottom lines. This was apparently not enough for investors.

  • Market Realist8 days ago

    Brocade Completed Ruckus Wireless Acquisition in Fiscal 3Q16

    In May 2016, Brocade Communications Systems (BRCD) announced that it completed the acquisition of Ruckus Wireless (RKUS). The transaction was initially valued at $1.5 billion.