The RF to Light 100 rose 2% last week, YTD +6% at 2243, or 10.4% below its peak in early May 06. The index continues to climb out of its slump in July 06.
In the News: Alcatel plans to buy Nortel's UMTS (3G) cellphone network business for $320 M. Anadigic's stock rose 33% on a Barron's report expecting a profit in 3Q06. JDSU was forecasting less than what analysts expected - stock dropped 12%. Investors decided that moderating jobs growth and subdued earnings growth supports the view that the Fed will keep its 5.25% rate on hold at their September 20th meeting. Tech stocks advanced in a late-week rally. The ISM (US) manufacturing report dropped slightly to 54.5 in August, i.e. continued strong activity. On a global basis, growth of production and new orders slowed but remained solid in August. Cost of inflation eased to a four-month low.
Market oversold indicator: down to 79%
Market overbought indicator: up to 50%
New Highs: BLS, CSCO, HITT, SPEC, T, VZ
New Lows: LSI
Top 5 - last week: Anadigics (+33%), HEI (15%), Zhone (14%), Powerwave (11%), Micrel (10%)
- YTD: Avici (+120%), Sirenza (105%), Hittite (91%), Broadwing (85%), Finisar (82%)
Bottom 5 - last week: Bookham (-17%), JDSU (-12%), Sycamore (-8%), Conexant (-6%), AMCC (-3%)
- YTD: Vitesse (-55%), Bookham (-46%), Powerwave (-40%), Cal. Amp (-39%), ADC (-38%)
by Sectors:
Space & Defense: +1%, YTD +10%
Communic. Services: +2%, YTD +19%
Network Systems: +3%, YTD - 9%
RF Semiconductors: +4%, YTD + 1%
RF Components: +3%, YTD +12%
F/O Components: +1%, YTD +18%
Miscell.: +2%, YTD + 5%
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RF to Light 100: +2%, YTD + 6%