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Actionable news in BRCD: Brocade Communications Systems, Inc.,

Brocade (BRCD) Stock Pops, Nearing Deal With Broadcom

NEW YORK (TheStreet) -- Shares of Brocade Communications Systems (BRCD) were advancing 7.26% to $11.37 on heavy trading volume late-afternoon Tuesday as Irvine, CA-based Broadcom (AVGO) is nearing a deal to buy the network provider, sources said, according to Reuters.

A deal could be announced later this week.

Bloomberg reported yesterday that Brocade was in talks of selling itself and that Broadcom was one of several interested buyers.

If the chipmaker negotiates a deal with San Jose, CA-based Brocade, it would keep...