Bear of the Day: Novatel Wireless (NVTL)

We downgrade our recommendation for Novatel Wireless (NVTL) to Underperform following its second quarter 2009 financial results, well below the Zacks Consensus Estimates. Novatel is facing intensifying competition for its legacy embedded solutions products that is expected to result in overall lower ASP and lower gross margin. Although the company has developed a niche for its [...]