Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) ended Tuesday session in red amid volatile trading. The shares closed down -0.31 points or -3.43% at $8.73 with 6.64 million shares getting traded. Post opening the session at $8.99, the shares hit an intraday low of $8.67 and an intraday high of $9.39 and the price vacillated in this range throughout the day. The company has a market cap of $3.45 billion and the numbers of outstanding shares have been calculated to be 400.87 million shares.
Brocade Communications Systems, Inc. (BRCD) on Sep 13, 2016 announced the Brocade® SLX™ 9850, a next-generation data center routing solution designed to support the exponential growth in network traffic and deliver the advanced functionality that organizations require as they accelerate their digital transformation. The extensible SLX 9850 provides industry-leading density, scale and performance for 10/40/100GbE data center use cases.
Leveraging a unique combination of hardware and software innovations, the SLX 9850 router includes the embedded Brocade SLX Insight Architecture™ that delivers pervasive network visibility for unparalleled insight to meet increasingly stringent service levels. The SLX 9850 also takes advantage of Brocade Workflow Composer™ to provide server-based, DevOps-style network automation that integrates across IT domains for end-to-end workflow automation.
Gartner forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from 2015, and will reach 20.8 billion by 2020. In 2021, video will account for about 70 percent of mobile data traffic. With cloud services, video streaming, Internet of Things (IoT) and mobile connectivity growing at exponential rates, organizations must ensure that the infrastructure they deploy can support dramatic future traffic growth. At the same time, as network operational complexity continues to grow, improved visibility and automation are becoming essential to achieving business agility.
“Customers tell us that they need networking solutions that not only address their immediate requirements, but that will sustain the next several generations of port speeds and densities, while delivering advanced capabilities to help deeply analyze network traffic as well as automate network operations,” said Jason Nolet, senior vice president, Switching, Routing and Analytics Products Group, Brocade. “The Brocade SLX 9850 routing solution was designed to address these needs with an innovative, extensible architecture providing organizations with maximum platform longevity, combined with advancements to deliver unparalleled network visibility and automation.”
Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) ended Tuesday session in red amid volatile trading. The shares closed down -0.09 points or -0.72% at $12.45 with 4.18 million shares getting traded. Post opening the session at $12.42, the shares hit an intraday low of $12.26 and an intraday high of $12.64 and the price vacillated in this range throughout the day. The company has a market cap of $6.49 billion and the numbers of outstanding shares have been calculated to be 511.70 million shares.
Marvell Technology Group Ltd. (MRVL) on Aug. 18, 2016 announced the appointment of Ms. Jean Hu as Chief Financial Officer (CFO), effective August 22, 2016. Ms. Hu is an accomplished executive with significant expertise in all aspects of finance and a proven track record of returning value to shareholders. At Marvell, she will lead the corporate finance, accounting, financial planning and analysis functions, and serve as a member of the executive team.
“I’m excited to welcome Jean to Marvell. This is a transformational time in the company’s history and Jean is a proven financial executive with deep experience in the semiconductor industry. She will be a significant asset to the team as we return Marvell to profitable growth,” said Matt Murphy, President and CEO, Marvell Technology Group. “I’d also like to thank David Eichler, our interim CFO, for his leadership and continued dedication to Marvell during a period of significant change.”
Ms. Hu joins Marvell from QLogic Corporation, where she was SVP and CFO; she also held the Acting CEO role at QLogic since August 2015. Previously, Ms. Hu held several senior positions at Conexant Systems, Inc. including CFO, Treasurer and SVP of Business Development from 2004 to 2011. Prior to 2004, Ms. Hu held various positions in financial planning, strategy and corporate development at Conexant and its predecessor company, Rockwell International Corporation.