Brocade (BRCD) Shares Sinking as RBC Downgrades Amid Chatter Co. Won't Do a Deal with Dell (DELL)

Shares of Brocade (NASDAQ: BRCD) are plunging in late-morning/early-afternoon trade amid concerns a rumored deal with Dell (Nasdaq: DELL) could be off the table following news earlier Dell has agreed to acquire Force10 Networks.

Downside in the stock intensified as RBC Capital issued a mid-day downgrade on Brocade. The firm now rates shares a Sector Perform, down from Outperform previously. The firm's price target fell from $8 to $6.

After opening about 2.7 percent lower, Brocade shares are now down more than 8 percent to around $5.77.

For more ratings news on Brocade click here and for the rating history of Brocade click here.

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