(NASDAQ:BRCD) Stock Falls 12% after Downgrades

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Brocade Communications Systems, Inc. (NASDAQ:BRCD) plunged 12% to $8.15 after today, several analysts are responding to last night's news that Hewlett-Packard will acquire 3Com for $7.90/share with a stern downgrade of Brocade (Nasdaq: BRCD). Previously, Brocade was thought to be a top prospect for a tech takeover, specifically, from HP.

Adding another firm to the list of today's downgrades, Lazard has moved its investment rating on Brocade from Buy to Hold.

Brocade Communications Systems, Inc. (Brocade) is a supplier of data center networking solutions that help enterprises connect and manage their information.