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Powerwave Technologies (NASDAQ:PWAV) is due to report its Q1 results after the bell tonight. The mean estimate in a Thomson Reuters survey is for a earnings of $0.03 per share on $151.8 million in revenue.

The stock has put up 12 reversal share moves and eight widening share moves between extended-hours trading and the next day's regular session following an evening earnings release.

In the near-term, the stock favors a reversal trend, cutting back or narrowing its after-hours move in the following day's regular session in three of the last four quarters.

The stock has gained in response to earnings news eight times, adding to that move three times. The stock has put up a post-earnings decline 12 times, adding to that move just four times.

On February 1, 2011, the stock eased 0.5% after a sales miss. Shares bounced back to gain 7.2% the next day.

On Oct. 28, 2010, PWAV gained 4.5% in after-hours action on the back of better-than-expected earnings results. The stock firmed higher the following day, closing the Oct. 29 regular session up 10.9%.

On Aug. 2, 2010, PWAV slipped 2.7% in after-hours trading after missing Q2 revenue expectations. The stock reversed direction the following day, closing the Aug. 3 regular session up 2.7%.

On May 3, 2010, PWAV declined 5.6% in evening action after missing Q1 expectations. The stock reversed direction the following day, ending the May 4 regular session up 0.5%.

On Feb. 4, 2010, PWAV tumbled 11.1% in after-hours trading after missing Q4 expectations. The stock cut its downside slightly the following day, closing the Feb. 5 regular session off 10.3%.

On Oct. 29, 2009, PWAV advanced 3.2% in evening trading despite reporting Q3 sales shy of expectations. It lost a good chunk of its gains the next day, ending the Oct. 30 regular session up 1.6%.

On July 30, 2009, PWAV declined 2.8% in after-hours trading after missing Q2 sales expectations. The stock tumbled lower in the July 31 regular session, ending down 11.8%.

On May 4, 2009, PWAV edged up 1.1% in evening trading after reporting Q1 sales below the Street view but also posting a narrower-than-expected loss. The stock lost its gain the following day, ending the May 5 regular session down 4.5%.

On Feb. 5, 2009, the stock gained 14.5% during evening trading after adjusted EPS beat the Street view, although on weaker sales. Shares closed flat the next day.

On Oct. 30, 2008, the stock was flat late in evening trading after an initial jump when it reported ahead of the Street by 3 cents with its latest EPS. Shares tumbled 47% the next day.

On July 31, 2008, PWAV eked out a 0.5% rise in after-hours trading after swinging to a Q2 profit and beating on sales. The stock soared the following day, rising 11.2% by the close on Aug. 1.

On May 5, 2008, the stock gained 16.2% after the company beat with Q1 results. The stock trimmed that advance ending up 13.4% the next day.

On Feb. 4, 2008, the stock fell 2.6% during evening trading after PWAV beat with Q4 sales but reported a larger loss than the Street expected. The loss swelled to 14.1% the next day.

On Oct. 29, 2007, PWAV declined 7.1% in after-hours trading after meeting on earnings but coming in just shy on sales. The stock continued heading lower into the Oct. 30 regular session, losing 11.1%.

On July 30, 2007, the stock gained 2.6% in the evening hours after reporting a sales decline but also a smaller loss than a year earlier. The issue rose 1.4% the next day.

On May 7, 2007, PWAV dropped 8.3% on lower Q1 results from a year ago. However, shares managed to claw back some of those losses and ended the next day session down 4.5%.

On Feb. 20, 2007, PWAV fell 2.9% in the after-hours session after the company swings to a loss and misses with its revenue figure. Shares rebounded to gain 3.4% the next day, however.

On Nov. 2, 2006, shares fell 6.2% in evening trading after reporting a wider loss than expected. The decline was reined in to 2.9% the next day.

On July 31, 2006, the stock tumbled 11.3% after the company missed Q2 estimates. The loss swelled to 17.7% the next day.

On May 2, 2006, PWAV gained 7.6%, despite reporting a miss with Q1 earnings. The gain increased to 10.5% the next day.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Powerwave Technologies: Tendency to Reverse Post-Earnings Moves in Both Directions

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