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Technology Stocks : Brocade Communications Systems,Inc. (Nasdaq-BRCD)

BRCD 12.73

0.0%

Nov 20 4:00 PM EST

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To: Mohan Marette who started this subject	11/13/2003 8:51:52 AM
From: manny t	Read Replies (1) of 1583

Found this from yesterday, Brocade Shares Rise Amid Apparent Supply Deal With Dell Wednesday November 12, 3:41 pm ET By Amy Braunschweiger NEW YORK -- Brocade Communications Systems Inc. (NasdaqNM:BRCD - News) likely inked a deal to supply Dell Inc. (NasdaqNM:DELL - News) with low-end switches to hook up its storage-area networks, sending Brocade's stock up 10%. ADVERTISEMENT "Although we cannot be certain, we have reason to believe that Brocade has won a single-source opportunity," Goldman Sachs analyst Brenden Smith wrote in a note. He upgraded his rating on Brocade's stock to "outperform" from "in line." Dell's storage business will likely become a "driving force" in the market of small-to-medium-sized businesses, said Mr. Smith. He added the vendor that has the best relationship with Dell could benefit from Dell's growth. Mr. Smith went on to say that Brocade's business with other original-equipment manufacturers, like EMC Corp. (NYSE:EMC - News) , has improved, which should help offset longer sales cycles and pricing pressure experienced in the sector. At about 3:20 p.m. EST on the Nasdaq Stock Market (News - Websites) , shares of Brocade were up 69 cents, or 10%, at $7.42 on volume of 32.1 million shares. The daily average is 12.2 million. Neither a Brocade nor a Dell representative were immediately available for comment. Even if Brocade doesn't improve its income statement, Brocade's stock could hit $9 a share in the next six months, said Mr. Smith. He added that the company may release a new set of embedded storage switches in the next two to three months and that he believes Brocade has been working with International Business Machines Corp. (NYSE:IBM - News) on an imbedded switch to be used in IBM's BladeCenter server. Mr. Smith wasn't immediately available for disclosure information. -By Amy Braunschweiger; Dow Jones Newswires; 201-938-2205; amy.braunschweiger@dowjones.com

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