An analyst downgraded networking gear makers Emulex Corp. and QLogic Corp. Friday, though investors seemed to slough off the news.
Morgan Keegan & Co. of Memphis, Tenn., downgraded Costa Mesa-based Emulex and Aliso Viejo-based QLogic from “outperform” to “market perform.”
Both stocks had recovered earlier losses in midday trading.
Emulex had lost 2% of its value by early afternoon in New York compared to earlier declines of about 3%.
QLogic shares were flat compared to early losses of about 2%.
Both companies compete in the market for adapters that connect servers to storage area networks. QLogic now holds the No. 1 position in the sector.
Tech sector barometer Nasdaq was down 1%.
