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Credit Suisse Disruptive Technology Portfolio: McAfee's Strong 1Q Showing Pushes Stock Price Up

Positive earnings report counterbalances concerns about weak sales.
McAfee's stock price had one of the largest upward swings last week of the Disruptive Technology Portfolio companies, rising 10.3% after the Internet security provider reported relatively strong results for its first quarter. With revenue of $314 million and earnings per share of 44 cents, it came in well ahead of consensus estimates of $291 million and 34 cents.

Before the earnings report, investors were concerned about potentially weak sales. Data for March from NPD, a research house that tracks the retail market, indicated that McAfee's sales fell 30% year over year. The company's consumer products demonstrated a 26% year-over-year decline, and the enterprise division had a 32% decline. The 1Q report helped alleviate investors' concerns.

Overall, the 29 DTP companies posted a mild gain for the week, increasing 0.5%, compared with the flat S&P 500. Sixteen stocks ended the week up, while 13 declined.

Disruptive Technology Portfolio
    Stock Price
5/2/07
% Change
Weekly
% Change
Year To Date
AAPL Apple Computer $100.39 5.3% 18.3%
BIDU Baidu.com, Inc. $122.97 17.5% 9.1%
BBBB Blackboard $35.04 3.8% 16.6%
BRCM Broadcom $32.73 -4.5% 1.3%
CNQR Concur Technologies $18.34 0.8% 14.3%
CRM salesforce.com $41.29 -3.0% 13.3%
CTSH Cognizant Technology $84.36 -5.8% 9.3%
DRIV Digital River $58.01 2.7% 4.0%
EBAY Ebay $33.72 -0.1% 12.1%
GOOG Google Inc. $465.78 -2.6% 1.2%
INFY Infosys $53.71 0.2% -1.6%
KNXA Kenexa $30.75 4.7% -7.5%
MFE McAfee $32.74 10.3% 15.4%
MRVL Marvell $16.53 -1.3% -13.9%
NOVL Novell $7.16 0.1% 15.5%
NSR Neustar $29.33 1.7% -9.6%
NVDA Nvidia Corp. $32.85 -0.8% -11.2%
RHT Red Hat $20.81 -6.0% -9.5%
RIMM Research in Motion $132.83 -2.0% 4.0%
RNOW RightNow Tech $14.92 -1.8% -13.4%
TLEO Taleo $16.28 2.5% 19.1%
TIBX TIBCO, Inc. $8.92 -7.1% -5.5%
TXN Texas Instruments $35.11 -0.7% 21.9%
ULTI Ultimate Software $28.66 6.8% 23.2%
VRSN Verisign $27.03 0.2% 12.4%
WEBX WebEx Communications $56.80 0.1% 62.8%
WIND Wind River $9.96 -1.6% -2.8%
WIT Wipro $16.86 2.2% 4.4%
YHOO Yahoo! Inc. $28.12 0.2% 10.1%
  DTP Index Value $264.07 0.5% 6.1%
SPX S&P 500 $1,495.92 0.0% 5.5%

© 2007 Credit Suisse. Important disclosure information about potential conflicts of interest regarding the companies referenced above may be obtained at csfb.com/researchdisclosures, or by E-mailing [email protected] or calling 1-877-291-2683.

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