Under The Radar News - Monday

by: SA Eli Hoffmann

FCC handcuffs mobile networks. FCC Chairman Kevin Martin dismissed a petition from Skype (NASDAQ:EBAY) that would force carriers to connect any lawful, non-harmful device to the telephone network, a move some say will cripple competition and inhibit technological development.

Basin Water going down the drain - StockLemon. Citron Research ("The New Face of StockLemon") thinks Basin Water (BWTR) is on its way to zero, similar to the previous Western Water. It notes Basin's admission that it could not make money due to 'poorly priced contracts," and says its customers are fabricated. Insiders including former CEO Peter Jensen and current chairman Scott Katzman have sold massive amounts of stock since Q2 2007.

Hedge funds eye retail. Analysts say hedge funds have retail stocks in their sites. One beneficiary may be Coldwater Creek (NASDAQ:CWTR), which plans to cut inventories by 15% per square foot and reduce promotional spending. The retail sector is attractive to hedge funds because it is often the first sector to jump out when the economy turns.

Major Google announcement? Google (NASDAQ:GOOG) is hosting a second developer event tonight. Speculation it will launch web services that compete head on with those of Amazon (NASDAQ:AMZN) and others, code named BigTable.

Phone facts. Only 79% of all U.S. adults have a land line, down from 81% in 2006, and 14% use only cell phones. 89% have a wireless, up from 77% a year ago.

Syntax establishes new China channel. Syntax-Brillian (BRCL) is joining up with Compal Electronics to produce 300K Olevia LCD TVs in China.

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