Extreme Networks (EXTR) Leads Networking Sector Lower on Q3 Warning (JNPR) (RVBD)

Extreme Networks, Inc. (Nasdaq: EXTR) is leading networking stocks lower this afternoon, following a report after the market close Monday which paints a rather bleak outlook for the company.

Extreme sees third-quarter 2011 revenue of $75.5 to $76.5 million, markedly below the Street consensus of $83.9 million. Additionally, Extreme said it expects North American sales to show a decline when compared with the third-quarter of 2010.

The stock is down 12.4 percent on the day.

Following Extreme lower:

• Brocade Communications (Nasdaq: BRCD) is down 2 percent;
  
  
• Limelight Networks (Nasdaq: LLNW) is off 3.2 percent;
  
  
• Globecomm (Nasdaq: GCOM) down 4.7 percent;
  
  
• Juniper Networks (Nasdaq: JNPR) is down 1.4 percent; and
  
  
• Riverbed Technology (Nasdaq: RVBD) finds itself 6.7 percent lower.

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