Wireless data communications provider
fell 21.8% in preopen
trading following a post-close earnings warning Wednesday.
Novatel said it expects a first-quarter loss of 22 cents to 23 cents a share, wider than the 14 cent loss expected by analysts and the 16 cent loss in the year-ago period. The company said it plans a restructuring that will eliminate 80 jobs, and added that it remains on target to break even in the fourth quarter.