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Brocade posts 2Q profit but revenue dips

 From ap.org
Brocade Communications Systems Inc. posted a profit in its fiscal second quarter after losing money in the same period a year ago. Its results were lifted by stronger sales of its computer-networking equipment to the federal government, and significantly lower legal expenses. The profit was better than Wall Street expected, but revenue wasn't, and its shares fell in after-hours trading. Brocade shares dropped 7.7 percent, or 45 cents, to $5.40 in extended trading, after the results were...Read Full Story

Ex-Brocade CEO found guilty of securities fraud

 From reuters.com
SAN FRANCISCO (Reuters) - A U.S. court convicted the former chief executive of Brocade Communications Systems Inc of securities fraud on Friday, a victory for the government in its high-profile crackdown on illegal options backdating. In a retrial, Gregory Reyes -- the first and highest profile executive to be accused of illegal backdating -- was convicted on nine charges related to securities fraud, but acquitted of one count of conspiracy, a spokesman for the Department of Justice said...Read Full Story

Backdating cases dismissed against Broadcom execs

 From reuters.com
LOS ANGELES (Reuters) - A federal judge in California on Tuesday dismissed stock options backdating-related charges against Broadcom Corp co-founder Henry Nicholas and former Chief Financial Officer William Ruehle, citing allegations of misconduct by prosecutors. U.S. District Judge Cormac Carney also ordered prosecutors to explain at a February 2 hearing why they should be allowed to proceed with a separate drug possession trial against Nicholas, set for 2010. Carney ruled that Ruehle, 67...Read Full Story

Brocade Communications Systems Exit at Profit Target

By averagejay6278 on  From tradingwiththeaveragejay.blogspot.com
I entered my Brocade Communications Systems (BRCD) trade on Aug 30. I charted out what I thought were prior buying and selling zones. I entered at $4.91 and set my profit sell limit order one minute after I entered the trade. BRCD is now breaking out to new highs on the day up .020 from where my profit target was hit. That is now irrelevant to me since I am no longer in the trade and goal was reached. There is no question I like the money, but just as fulfilling is sticking to the discipline...Read Full Story

Ex-Brocade CEO sent to prison for stock backdating

 From ap.org
A federal judge has sentenced the former chief executive of Brocade Communications Inc. to 18 months in prison in a stock options backdating case. Prosecutors say Gregory Reyes failed to disclose that the dates on stock options given to employees had been altered. He was convicted in March of nine counts of fraud and making false statements, but acquitted of conspiracy. U.S. District Court Judge Charles Breyer also fined Reyes $15 million at Thursday's sentencing. Reyes, whose lawyers are...Read Full Story
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Gregory Reyes

Gregory Reyes

Linked from: nwsource.com

FLIR Systems (NASDAQ:FLIR) reported Q4 EPS of $0.49 ... may cut up to 300 jobs in its capital markets and cash equities units after it failed to find a buyer for the business. The Edinburgh-based bank said in the statement."Having to cut jobs is the ...  
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Feb 03, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Brocade Communications Systems (NASDAQ ... day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading ...  
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Blackstone Group LP, the world’s largest private-equity firm, is studying a leveraged buyout of Brocade Communications Systems Inc., said a person with knowledge of the situation.  
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Blackstone Group is reportedly considering a leveraged buyout of Brocade Communications Systems. Bloomberg cited an unnamed source in a story on Friday that said Blackstone is in talks with San Jose-based Brocade (NASDAQ:BRCD) but a deal may be difficult because of the $2.65 billion market value of the networking equipment company. Brocade has been reportedly seeking a buyer off and on since 2009 but no deals were able to be worked out.  
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CHICAGO, Jan. 18, 2012 /PRNewswire/ -- Seven Summits Research issues critical PriceWatch Alerts for BAC, AET, NVLS, BRCD, and MCO. To see what our analysts have discovered about these stocks read the Seven Summits Strategic Investments' PriceWatch Alerts at...  
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Brocade Communications Systems Inc.'s stock was up more than 5 percent in early morning trading on Tuesday, and had reached $5.51 per share, up 6.68 percent by mid-afternoon. The San Jose-based company (NASDAQ:BRCD) is a supplier of networking equipment. Its stock closed up 5.32 percent. Written by Lisa Sibley. She can be reached at 408.299.1830 or lsibley@bizjournals.com.  
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Number of the day 36% That's the possible takeover premium for Brocade Communications , according to ThinkEquity. Shares of the San Jose maker of data-network switches have bounced back from their August low, yet they'...  
From sfgate.com ()
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Brocade Communications Systems had the Lowest Relative Performance in the ...Financial News Network OnlineBrocade Communications Systems, Inc. provides switching solutions for storage area networks (SAN). The Company's switching solutions utilize the fiber channel interconnect protocol. Brocade's family of SilkWorm switches enables a company to manage ...and more »  
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Over the past year, Brocade Communications Systems has traded in a range of $3.18 to $7.30 and is now at $5.20, 64% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.2%.  
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11:07 AM Babcock & Wilcox Awarded $43 Million Contract For Environmental Equipment The Babcock & Wilcox Company (NYSE:BWC) announced that its subsidiary Babcock & Wilcox Power Generation Group has been awarded a $43 million contract by architectural ...  
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