Pat,
Other than Gary, more comments on NN's SuperComm performance.
TORONTO, June 11 (Reuters) - Shares of computer networking firm Newbridge Networks Corp. (NN - news) dropped nearly six percent in heavy trading on Thursday, dragged lower by bearish sentiment at the key SuperComm trade show.
Newbridge dropped 2.05 or 5.73 percent to 33.75 on the Toronto Stock Exchange despite Thursday's announcement of a US$200-million, five-year contract with Energis Plc (quote from Yahoo! UK & Ireland: EGS.L).
In New York, Newbridge shares fell 1-7/16 to 23.
The company, based near Ottawa, unveiled the Energis deal at the annual SuperComm telecommunications trade show being held in Atlanta this week but overall has failed to impress at the show, said Duncan Stewart, fund manager at Tera Capital.
''The sentiment down at SuperComm is overwhelmingly negative on Newbridge. Everybody who's called up said: 'This is a company that used to dominate shows like this','' Stewart said. ''This is a company that used to own the technological high ground, and doesn't seem to right now.''
The vision of company founder and head Terry Matthews has not unfolded exactly as anticipated a few years ago, Stewart said.
''People are coming out of it (the Atlanta show) a little unexcited,'' Stewart said. ''The zing isn't there.'' (Snip)
Don't shoot the messenger, just showing what I am seeing.
Cheers,
Peppe |
