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Technology Stocks : NovAtel - Global Positioning Systems
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To: J Walter Jacobs who wrote (150)5/1/1998 6:22:00 PM
From: David Rubin  Read Replies (1) of 191
 
Earnings out and it's not a pretty picture. The stock touched $5.20 today before recovering somewhat. Obviously there are some investors who either didn't know this was coming or saw a worse story than anticipated.

I especially don't like the words from the CEO:

"With continued strong investment in R&D and development of
both our OEM and end-user channels, we continue to be optimistic that demand for the company's products will once again begin
to accelerate."

This is a very cautious comment. They are "optimistic" means that orders have not yet started to pick up. This can only lead to another disappointing quarter.

Glad I got out at $7.50. Marconi can't do anything to save this stock now short of an outright buyout. If they wait a few months they'll be able to get a real bargain. Good luck to all those who are still long.
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