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To: Wizard who wrote (8816)	9/26/2001 3:03:08 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 57684

Thanks, Wiz. From Briefing today: Brocade Comms (BRCD) 16.82 -2.45: -- Morning Note -- Soundview maintains STRONG BUY rating; notes the current environment for servers and storage appears challenging overall, and believes that $120 mln and $0.05 estimates for the company's Q4 (Oct) remain within reach; also notes the company's longer-term fundamentals are strong and about to get stronger with new software and switch offerings on schedule for release in the second half of October; believes that upside potential from here significantly outweighs the risk of further declines

To: Wizard who wrote (8816)	9/27/2001 7:30:55 PM
From: Bill Harmond	Respond to of 57684

From Briefing Thurs: Brocade Comms (BRCD) 14.16 -1.53: Morgan Stanley cut 2002 EPS estimates on BRCD this morning to $0.33 from $0.50, citing expected tightening of CIO budgets... CE Unterberg Towbin upgrades to BUY from NEUTRAL on current price weakness; brokerage cuts estimate for Q4 (Oct) to $0.02 from $0.05 (vs. First Call estimate of $0.04) to reflect higher risk in the company's near-term sales as well as a tougher product-transition in early FY02 if the Silkworm 12000 proves later than expected.