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Short Take: Foundry sees earnings over expectations

Networking firm Foundry Networks said it expects third-quarter revenue will reach between $36 million and $38 million. These results will exceed the company's expectations and should improve earnings for the quarter that ended September 30, executives said. Foundry's stock rose 525 percent last week following an initial public offering.

Networking firm Foundry Networks said it expects third-quarter revenue will reach between $36 million and $38 million. These results will exceed the company's expectations and should improve earnings for the quarter that ended September 30, executives said. Foundry's stock rose 525 percent last week following an initial public offering.