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Aerospace & Defense Electronics Supplement
Early Returns: U.S. Export Control Reform Positive
A&D Test & Measurement
Efficient Design and Analysis of Airborne Radomes
The RF to Light 100 rose 1% last week, YTD + 10% at 2321. ADC Telecomm shares dropped 23% after saying it would buy Andrew Corp. in deal valued at $2 B. Andrew shares remained unchanged. Shares of communications services rose broadly providing a haven amid turbulence. Most market sectors dropped 10 to 20% in May. The fact that the F/O component sector had also a quick upswing in May makes me believe that we have been seeing a correction, not the beginning of a bear market. There is just too much momentum in worldwide economies.
In the news: World equity markets remained nervous and volatile this week as investors reflected on the worst monthly fall for global share prices for 3-1/2 years. On Wall Street "turtle market" plods along on its sluggish path. The dollar declines on soft jobs figures.
New Highs: CMCSa
New Lows: HEI, MXIM, S.
Market overbought indicator: up to 66%
Market oversold indicator: up to 70%
Top 5 - last week: Ciena (17%), Atheros (12%), Oplink (11%), Stratex (11%), Hittite (9%) - YTD: Sirenza (153%), Finisar (136%), Broadwing (103%), Atheros (85%), Amkor (77%)
Bottom 5 - last week: ADC Telecom (-23%), California Amplifier (-6%),Sirenza (-4%), Microsoft (-4%), Conexant (-4%) - YTD: HEI (-44%), Bookham (-31%), Intel (-27%), Juniper (-23%), Nortel (-22%)
Space & Defense : 0%, YTD + 12%
Communic. Services: + 3%, YTD + 15%
Network Systems : 0%, YTD - 1%
RF Semiconductors : + 2%, YTD + 9%
RF Components : + 1%, YTD + 17%
F/O Components : + 7%, YTD + 32%
Miscell. : 0%, YTD + 7%
RF to Light 100 : + 2%, YTD + 10%
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