Emulex Follows QLogic’s Lead….Lower
Emulex (ELX) is following Qlogic’s (QLGC) by trading lower after earnings. The company met estimates at $0.27 EPS and revenues were ahead of plan at $121 million instead of $118.5 million estimates. It gave revenue guidance next quarter of $115…
Emulex (ELX) is following Qlogic’s (QLGC) by trading lower after earnings. The company met estimates at $0.27 EPS and revenues were ahead of plan at $121 million instead of $118.5 million estimates. It gave revenue guidance next quarter of $115 to $119 million, and estimates are $118.5 million. Shares are now down 4% at $18.02 after closing up 0.4% at $18.78 in regular trading.
QLogic (QLGC) fell 5% yesterday after its earnings, and these two are usually compared to each other like white on rice. Emulex (ELX) wasn’t lower yesterday with the stock for some reason. ELX has a 52-week trading range of $14.04 to $21.64. Wall Street is back to selling the news on most tech earnings.
Jon C. Ogg
January 25, 2007
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