Glenayre Reports Loss

Glenayre Technologies Inc. (GEMS) swung to a first quarter loss of 10 cents per share compared with earnings of 3 cents per share a year earlier. The communications and entertainment company cut its 2006 outlook after one of its largest clients Sprint Nextel Corp. (S) excluded the company from its voicemail vendor selection process. Shares of Glenayre plunged $2.16 to close at $3.67 while Sprint stock eased 13 cents to close at $25.01.