Sierra Wireless Tumbles on Warning

By TSC Staff ,

Sierra Wireless (SWIR) - Get Report was down 34% in preopen Island trading.

The company, a maker of wireless communications devices for portable computers, warned after the close Friday it would report a second-quarter loss, including charges, of $11.8 million to $12.5 million, or 73 to 78 cents a share. The company's earlier forecast was for earnings of $500,000, or 3 cents a share.

Sierra blamed the revised forecast on the economic slowdown and said it was expecting breakeven results in the third quarter.

This morning,

Credit Suisse First Boston

downgraded the stock to hold from buy.

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