Credit Suisse First Boston Disruptive Technology
Portfolio
Following several weeks of outperformance, last week the Disruptive
Technology Portfolio significantly underperformed the broader
market. Advances overwhelmingly lagged declines 5 to 25. The index
was down nearly 4% for the week, compared to a gain of 1.3% for the
S&P 500. There were only two stocks with gains above 5%, while
there were eight stocks posting a decline of 5% or greater. On
Demand CRM leader salesforce.com posted the largest gain for the
week, up 8.7% following the launch of its AppExchange software
distribution platform. Customers, partners and investors alike
showed enthusiasm surrounding this new strategy. Indian IT Services
firm Wipro jumped 7% on strong earnings results. Posting the
largest decline for the week was Yahoo!, dropping 16% after posting
disappointing quarterly results, and a weaker than expected
outlook. Following last week's strong performance from the
semi-conductor group, Intel's tempered outlook for 2006 rubbed off
on the other chipmakers including ATI Technologies, which lost 8.6%
for the week, and Texas Instruments, which fell 5%.