Hi Mike, I haven't followed Abby other than she's a big bull now.
08:09 ET Pre-Market Movers : Seeing damage across the storage space in reaction to Emulex comments: EMLX -25%, QLGC -14%, BRCD -7%, MCDT -3%, VRTS -3%, NTAP -2.5%.
08:06 ET Emulex (EMLX) 77 1/2: -- WebCast Comments -- Believes that visibility on Q3 qtr has changed as orders deferred into Q3, a phenomenon company has not seen in prior qtrs. Should company continue to see additional order deferrals, believes Q3 earnings could be 3-5 cents below company's current expectation of $0.23... Expects to have better visibility 3-4 weeks from now when its OEMs have better idea of quarterly requirements.
When you look at the above list. EMLX, VRTS, and MCDT are not near their 52 wk lows. They may have the most to fall. Also, the OEMs were only 30% off thier highs so that market will fall as inventory gets chewed up at BRCM and CSCO.
Jack |
