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Strategies & Market Trends : Technical analysis for shorts & longs

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To: Johnny Canuck who wrote (42046)	12/29/2004 1:38:32 PM
From: Johnny Canuck	Read Replies (3) of 68509

10:00AM CORRECT: Proxim sees wider than anticipated loss for Q4 (PROX) by Michael Baron NEW YORK (CBS.MW) -- Proxim Corp. (PROX) lowered its financial outlook for the fourth quarter citing <>the adverse impact on revenue of continued carrier consolidation and delayed deployments, pricing pressure in its Wi-Fi business due to an "unforeseen" pricing action by Cisco Systems (CSCO), and a delay in Wi-Fi product transistions by key original equipment manufacturers. The company also blamed availability problems with its Tsunami MP.11 product, which prevented shipments for several transactions. The company now sees a pro forma loss of 29 to 34 cents per share in the fourth quarter on revenue ranging from $22 million to $24 million. Its previous outlook was for a pro forma loss of 9 to 14 cents per share on revenue of between $32 million and $35 million. The stock closed Tuesday at $4.94, down 2.1 percent. (A previous verison of this item incorrectly referred to the recent tsunamis instead of the company's Tsunami product.)

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