China TechFaith Wireless Communication’s Q2 revenues miss the Street, issues unsettling guidance
Shares of China TechFaith Wireless Communication Technology Ltd. (Nasdaq:CNTF) are set to swoon after the cell phone research and development company reported second-quarter revenues that missed the consensus on Wall Street and issued lackluster guidance.
In a statement the company said that it foresees a “highly competitive environment and challenging economic conditions in the coming quarters.”
Shares were halted in pre-market trading. For detailed price information and news stories on China TechFaith Wireless, click CNTF.
