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Posted on 06.29.05 by Nikhil @ 10:30 pm
NEW YORK - Shares of UTStarcom continue to slide, and the stock now trades in the low $7 range–close to its 52-week low. The news for this once high-flying company, which provides telecom equipment mostly to service providers in China, has been dismal lately. The company, which in 2004 generated about $2 billion in sales of its Personal Access System equipment to Chinese service providers such as China Telecom and China Unicom, recently said that sales would drop as much as 50% in the region. The reason: 3G licenses are soon to be offered by the government in China. As a result, the service providers are increasingly putting their money towards 3G infrastructure equipment–not PAS. Since sales of the company’s PAS equipment, service and handsets accounted for 85% of its revenue in 2004, the slowdown hits UTStarcom hard. Click here for more… Filed under: Stock Watch Comments: None |
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Posted on 06.13.05 by Nikhil @ 10:32 pm
Are shares of ATI Technologies, the developer of graphic chips, oversold? ATI is famous among PC chipmakers and coveted by videogamers, being responsible for chips such as its super-fast Radeon series, but it’s stock took a beating last week, falling about 15% from a closing price of $15.24 on June 3, to a closing price of $12.91 on June 8. The reason: ATI forecast that its third-quarter earnings for the three months ending in May, would come in at $530 million–5% lower than its previous outlook. The company also lowered its forecast for the fourth quarter saying that revenue would come in around $600 million, down from an expected $659.8 million. For the year, ATI is now on track to earn $176.6 million on $2.35 billion in revenue. Click here for more… Filed under: Stock Watch Comments: None |
