real-time news and commentary for investors
Thursday, Nov 3
2011, 11:23 AM
Sierra Wireless (SWIR -11.8%) dips after its Q3 revenue misses estimates. Profits dropped...
Sierra Wireless (SWIR -11.8%) dips after its Q3 revenue misses estimates. Profits dropped 15% Y/Y, driven by the loss of revenue from Barnes & Noble (BKS -4%) and Clearwire (CLWR -10%). Not surprisingly, the company also lowers guidance for FY11, now expecting revenue of between $145M - $150M, below Street estimates for $166M. Separately, Morgan Keegan, Raymond James and RBC all downgrade the shares on the results.