Emulex Slides on an Earnings Warning
Emulex (ELX ) cut the fourth-quarter EPS guidance to 18 cents (non-GAAP) on lower-than-expected revenue of $85 million to $86 million, citing "tepid" demand from two manufacturers. The maker of adapters used in data storage also sees first-quarter revenue below current Street estimates. JP Morgan cut its rating on the stock to neutral. S&P downgraded to hold from buy.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.