how does Com21's recent setback effect WAVX ?
(both stocks has since shrugged off the news)
By Janet Haney, CBS MarketWatch
Last Update: 4:48 PM ET Jun 24, 1999
NewsWatch
MILPITAS, Calif. (CBS.MW) -- Shares of Com21, a cable modem and
software maker for the broadband market, fell 21 percent after the
company said it didn't receive CableLabs certification for a cable modem.
Com21 (CMTO: news,
msgs) said it expects to
enter the next round of
its Docsis-based
DOXport cable modem
certification, with results
scheduled for release by
the end of August.
The company's Docsis
and ATM-based
(asynchronous transfer
mode) products help cable operators and service providers to deliver
high-speed Internet and telephony applications.
Its shares lost 4 1/8 to 15 7/8, with 10.6 million shares changing hands,
making it one of the top percentage losers on the Nasdaq exchange.
"While we are disappointed with the current results, we are very close to
achieving final certification, and extremely pleased with the progress we
have made during the certification process," Peter Fenner, CEO, said in a
statement. |
