The Credit Suisse Disruptive Technology Portfolio reversed its streak of weekly losses last week, with Salesforce.com leading the charge. The CRM company got a jolt as investors became more optimistic about the company's growth prospects ahead of its 2Q earnings report. The stock had steadily traded down from its February high of $43 because of concerns about decelerating subscriber growth, and speculation that Microsoft would launch a competing product during its annual partner conference in July.
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Disruptive Technology Portfolio
Salesforce began to recover after reports of Microsoft's launch of CRM Live proved premature. The recovery became more pronounced as investors became comfortable that Salesforce's business fundamentals remain strong. Renewed optimism drove the stock up 14%, and investors were rewarded as the company reported strong 2Q results, highlighted by 57,000 new subscribers.
The Disruptive Technology Portfolio index closed the week up 7%, well ahead of the S&P 500, which gained 2.3% in the same period.
| Disruptive Technology Portfolio | ||||
| Stock Price 8/16/06 |
% Change Weekly |
% Change Year To Date |
||
| AAPL | Apple Computer | $67.98 | 6.9% | -5.4% |
| ATYT | ATI Technologies | $20.91 | 3.4% | 23.1% |
| BIDU | Baidu.com, Inc. | $78.18 | 11.3% | 24.3% |
| BBBB | Blackboard | $29.20 | 4.2% | 0.8% |
| BRCM | Broadcom | $30.38 | 19.1% | -3.4% |
| CNQR | Concur Technologies | $12.16 | 0.4% | -5.7% |
| CRM | salesforce.com | $28.32 | 13.7% | -11.6% |
| CTSH | Cognizant Technology | $70.49 | 8.8% | 40.2% |
| DRIV | Digital River | $47.26 | 9.4% | 58.9% |
| EBAY | Ebay | $25.82 | 5.0% | -40.3% |
| GOOG | Google Inc. | $387.72 | 2.9% | -6.5% |
| INFY | Infosys | $44.15 | 9.5% | -45.4% |
| KNXA | Kenexa | $24.87 | 10.6% | 17.9% |
| MFE | McAfee | $21.02 | 4.2% | -22.5% |
| MRVL | Marvell | $20.66 | 17.1% | -63.2% |
| NOVL | Novell | $6.79 | 6.4% | -23.1% |
| NSR | Neustar | $27.83 | 4.3% | -8.7% |
| NVDA | Nvidia Corp. | $27.35 | 12.4% | 49.6% |
| RHAT | Red Hat | $23.05 | 3.3% | -15.4% |
| RIMM | Research in Motion | $77.72 | 13.3% | 17.7% |
| RNOW | RightNow Tech | $13.65 | 13.8% | -26.1% |
| TLEO | Taleo | $8.91 | 8.4% | -32.9% |
| TIBX | TIBCO, Inc. | $7.65 | 5.4% | 2.4% |
| TXN | Texas Instruments | $32.82 | 7.6% | 2.3% |
| ULTI | Ultimate Software | $21.12 | 6.1% | 10.7% |
| VRSN | Verisign | $18.61 | 6.6% | -15.0% |
| WEBX | WebEx Communications | $35.83 | 11.5% | 65.6% |
| WIND | Wind River | $9.48 | 17.8% | -35.8% |
| WIT | Wipro | $12.93 | 2.9% | 8.2% |
| YHOO | Yahoo! Inc. | $28.39 | 4.3% | -27.5% |
| DTP Index Value | 209.21 | 7.0% | -5.2% | |
| SPX | S&P 500 | 1,295.43 | 2.3% | 3.8% |
© 2006 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.
Disruptive Technology Portfolio