Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: StockJock-e who wrote (75191)	3/6/2002 10:19:47 AM
From: Tassi	Read Replies (1) of 122087

Goldman defends storage sector stocks -------------------------------------------------------------------------------- 10:01 ET A 29-percent tumble in McData's stock , prompted by a warning that sales would miss expectations, is weighing heavily on the entire storage networking sector. EMC , the group's leader, is sliding 67 cents, or 5.8 percent, to $10.88. Among other more active stocks in the sector, Brocade Communications is falling $2.03 (7.7 percent) to $24.28, Emulex is shedding $2.81 (7.5 percent) to $34.46, and QLogic is falling $2.85 (6 percent) to $44.88. McData is trading down $4.40 to $11.01. Among analyst comments, J.P. Morgan lowered earnings and revenue estimates for EMC (see 5:07 item). However, Goldman Sachs analyst Laura Conigliaro said McData's warning is "not a harbinger" for the rest of the storage-networking sector. "Although the fact that the IT environment remains weak is generic to all the storage networking companies, we see much of this preannouncement coming from McData's specific product and customer set," she said in a note to clients. She recommended buying Brocade, Emulex and QLogic on weakness related to McData.

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