The RF to Light 100 dropped 1 percent last week, YTD now +2 percent at 2157. Siemens and Nokia announced a $20 B joint venture that will create the world's third-largest network equipment supplier. Eventually a standalone company is expected via IPO or buy-out of one of the partners. Siemens rose 8.1 percent. Spectrum Control shares rose 31 percent after big 2Q earnings and sales. 1Q06 financials of 50 companies are now complete: Revenues continued to raise to $800 B, free cash flow increased to $63 B while total cash dropped to $124 B - all numbers still very impressive.
In the news: The US growth rate continues to slow down while it is expected that the Federal Reserve will increase their rate to 5.25 percent next week. The balancing act is to control inflation while not killing economic growth. Oil prices remained about $70/barrel.
New Highs: BLS
New Lows: ADCT, ADTN, ANDW, EDO, HEII, S
Market oversold indicator: flat at 79%
Market overbought indicator: down to 34%
Top 5 - last week: Spectrum Control (31%), JDSU (8%), Sirenza (7%), Hittite (6%), Siemens (6%)
YTD: Sirenza (167%), Broadwing (73%), Amkor (63%), Finisar (58%), ATC (53%)
Bottom 5 - last week: Qualcom (-9%), Agilent (-6%), Vitesse (-6%), Conexant (-6%), Juniper (-6%)
YTD: HEI (-50%), Bookham (-39%), Herley (-38%), Jabil (-32%), Nortel (-29%)
By Sectors:
Space & Defense: - 2%, YTD + 5%
Communic. Services: - 2%, YTD + 11%
Network Systems: - 3%, YTD - 10%
RF Semiconductors: - 1%, YTD - 1%
RF Components: + 2%, YTD + 9%
F/O Components: 0%, YTD + 14%
Miscell.: 0%, YTD 0%
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RF to Light 100 : - 1%, YTD + 2%
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