Market News

May 17, 2013  Fri 7:32 AM CT

Half a Billion Dollars of Market Cap Erased

Aruba Networks earned just $0.11 in its third quarter on revenue of $147 million. Analysts had expected $0.15 and $149.76 million, respectively. ARUN craters 25 percent before the bell on my tradeMONSTER platform.

Nordstrom Lower on Weak Results

Nordstrom reported first-quarter profit of $0.73 a share, missing the $0.76 average analyst forecast. Sales of $2.75 billion also lagged the $2.80 billion consensus number, and management trimmed full-year forecasts. JWN trades down almost 4 percent in the premarket.

Revenue Miss Weighs on Brocade

Brocade Communications beat expectation on the bottom line, but revenue totaled just $538.8 million. That was below the $544.24 million expectation, and BRCD is down more than 4 percent in early trading.

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