Shares of data storage equipment maker Emulex Corp. lost more than a third of their value Friday and pulled down the storage sector after the company said it expected weaker full-year sales than Wall Street had expected.
After an early trading delay, Emulex shares plunged, closing down $8.34at $15.27 on the New York Stock Exchange.
Merrill Lynch storage analyst John Roy said he did not think the company's guidance was terrible news, but he noted, "People are looking for bad news."
