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Today's Big Losers: BRCD, RRGB, NWY Friday, May 21, 4:46 PM ET Brocade (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 (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 (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 (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%.
For MarketNewsVideo.com, I'm Sayoko Murase. | |
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