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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.
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