Novatel Wireless shares plunge on lowered Q2 outlook and disappointing Q3 guidance
Shares of Novatel Wireless, Inc. (Nasdaq:NVTL) have plunged in pre-market trading after the wireless broadband provider lowered its forecast for second-quarter results after Tuesday’s close. Given the challenging macroeconimic environment, the firm also issued third-quarter results substantially below the Street’s forecast.
Shares tumbled 20%, or $1.71, to $6.69 in pre-market trading. For detailed price information and news stories on Novatel Wireless, click NVTL.
