Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Brocade Communications Systems (Nasdaq: BRCD ) rose more than 12% in the opening moments of today's market action after reporting fiscal fourth-quarter results that soundly beat estimates.
So what: Revenue edged up slightly to $550 million from $549 million in last year's Q4. Adjusted profits improved 23% to $0.16 a share. Analysts were expecting $527.4 million and $0.10 a share, respectively, according to data compiled by Yahoo! Finance.
Now what: Brocade, which competes with Cisco (Nasdaq: CSCO ) and Juniper Networks (Nasdaq: JNPR ) in data networking gear, has lagged both the S&P 500 and the Dow Jones Industrial Average (INDEX: ^DJI ) so far this year. Could last night's beat ignite a holiday rally? I'm asking you. Would you buy shares of Brocade Communications at current prices? Please weigh in using the comments box below.
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