PWAV - Powerwave Technologies Inc

I really like this stock. I think this is a FANTASTIC long play.

This stock is going places. Steady upward movement every day.

Up 40 cents in two days. Should be a nice week.

Watch for a bottom here.........

Watch this for a bottom..........it could bounce this morning. Quarterly earnings were released after the bell yesterday. Saw a dip this morning and could look to bounce back. RUFF !!!

Press ReleaseSource: Powerwave Technologies, Inc.

Powerwave Technologies Reports Third Quarter Results
Thursday October 30, 4:05 pm ET
Third Quarter Fiscal 2008 Highlights

-- Revenue increased to $238.0 million, up 18.6 percent from $200.7 million in Q3 2007
-- Excluding intangible asset amortization and restructuring and impairment charges, pro forma gross margin was 24.5 percent
-- On a pro forma basis, excluding intangible asset amortization and restructuring and impairment charges, net income per share was 8 cents

SANTA ANA, Calif.--(BUSINESS WIRE)--Powerwave Technologies, Inc. (Nasdaq:PWAV - News), a global supplier of end-to-end wireless solutions for wireless communications networks, today reported preliminary results for its third quarter ended September 28, 2008.

Net sales in the third quarter were $238.0 million, an increase of 18.6 percent, compared with $200.7 million reported in the third quarter of fiscal 2007. Powerwave also reported a third quarter GAAP net loss of $1.8 million, which includes non-cash intangible asset amortization charges of $6.7 million and $6.1 million of restructuring and impairment charges. For the third quarter of 2008, the net loss equates to a basic loss per share of 1 cent. This compares with a net loss of $28.6 million, or a loss per share of 22 cents in the prior year period. For the third quarter of fiscal 2008, excluding the intangible asset amortization and restructuring and impairment charges, on a pro forma basis, Powerwave would have reported net income of $10.4 million, or fully diluted net income per share of 8 cents.

Total revenue for the first nine months of fiscal 2008 was $709.9 million, an increase of 29.1 percent, compared with $549.9 million reported for the first nine months of fiscal 2007. Powerwave reported a total net loss for the first nine months of 2008 of $26.3 million, or a basic net loss per share of 20 cents, compared with a net loss of $120.3 million, or a basic loss per share of 92 cents for the first nine months of fiscal 2007. The results for the first nine months of 2008 include a total of $42.0 million of restructuring and impairment charges and intangible asset amortization, while the results for the first nine months of 2007 included $53.5 million of such expenses.

“During the third quarter, we continued to execute on our restructuring activities and achieved our operating expense reduction targets ahead of schedule, which contributed to our strong pro forma income for the quarter,” said Ronald Buschur, president and chief executive officer of Powerwave Technologies.

PRESS RELEASE

Powerwave downgraded by Robert W. Baird

Powerwave downgraded by Robert W. Baird
Briefing.com(Fri 4:29am)

From Outperform to Neutral

Time to jump in?? looking closely at this one..

Weird that looked like good news.

I wonder if the people that downgrades these stocks do it to manipulate a drop in the stock price so there buddies can get in at cheap price after all the panic sellers have gone. Maybe not someone directly with the company but like a friend benefiting from being a friend that downgrades these stocks...
Still looking good for a potential buy point for me...

I went in at 0.80 when I mentioned it this morning and still holding. As to your above theory.............what....????? insider trading????? LOL

I come up with anything and everything!

Doesnt make any sense to drop on good news.

October 31, 2008, 11:11 am
Tsunami Hits Powerwave; Stock Cut In Half
Posted by Eric Savitz

Talk about your powerful waves.

Powerwave (PWAV) shares have been cut in half today after the company provided a disappointing outlook for the fourth quarter. As noted yesterday, third quarter results were actually slightly ahead of expectations. But in a post-earnings conference call with the Street, the company issued disappointing guidance: the company now sees full year 2008 revenue of $880 million to $920 million, well below the Street at $952 million. That implies Q4 revenue of $171-$211 million, which is down from $238 million in Q3 and well below the Street consensus of $246 million.

In issuing its guidance, the company noted that in the last two weeks, some customers have started to cancel or request delays of orders for equipment.

Several analysts responded to yesterday’s news with downgrades.

Kenneth Muth, analyst at Robert W. Baird, cut his rating on the stock to Neutral from Outperform, and slashing his target price to $2 from $5. His 2008 EPS target drops to a loss of a penny a share from a profit of 15 cents; for 2009 he goes to a loss of 22 cents from a profit of 28 cents. “We had expected developing markets growth to provider a buffer against the slowdown, but PWAV expressed concern about all markets weakening,” he writes.

William Choi, analyst at Jefferies & Co., cut his rating to Hold from Buy, and reduced his target to $2 from $6. “Customers are scaling back due to the weak economy and funding issues,” he notes. “With profitability being challenged and a weak balance sheet, we remain cautious.” His estimates drop to 11 cents from 20 cents for this year, and to 1 cent from 38 cents for 2009.

PWAV today is down - how nice and neat - 90 cents, or 50%, to 90 cents. (Interesting that the stock was down nearly 20% yesterday before the news was announced; did someone guess, or did someone know?)

I still think this is a best in class stock. I think it will be back up towards 5 dollars a share in 2-3 years and is a STEAL at these prices. I am just trying to find a solid "bottom" right now before I go in.

I'm liking this one for this week. Could make a nice run imo.

This sums it up for me:
http://stockcharts.com/h-sc/ui?s=PWA...79&a=157687997

13.4m shares short also.

I drew those last night and also the trix 3 made its cross through the others.

So you think this is gonna make a run this week?