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Argues' Jm Kelleher downgrades Emulex (ELX -2.4%) to Hold, leading shares to give back some of...

Argues' Jm Kelleher downgrades Emulex (ELX -2.4%) to Hold, leading shares to give back some of the big Wednesday gains they saw thanks to a Bloomberg report that the company has put itself on sale. Kelleher thinks Emulex's current price could complicate the sale process, and is worried about integration issues. QLogic (QLGC -1.5%) is also lower, but Brocade (BRCD +3.5%) is rallying. SA contributor Fusion Research has made a bull case for Brocade, arguing Ethernet switch growth is offsetting storage switch weakness, and praising the company's improving margins, buybacks, and cost-cutting efforts.
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