High-tech Companies' Stocks Average Nearly 10% Increase After AeA Classic Financial Conference; During Same Time Period S & P 500 Gained Only 2.5%.
AeA Classic Financial Conference 2002
WASHINGTON--(BUSINESS WIRE)--Nov. 15, 2002
High-tech companies attending the AeA Classic Financial Conference last week saw their stock prices rise an average of 9.8 percent as executives met with investors November 4-6 at 32nd annual AeA Classic held in San Diego. During the same time period (calculated from market close Friday, November 1, to market close November 6), the Dow Jones Industrial Average rose only 3 percent and the S & P 500 gained only 2.5 percent.
The 20 top-performing companies at the Classic had their stock prices go up an average of 32.7 percent between November 1 and November 6. Overall, the 89 companies presenting in Session 1 increased their market value by 10 percent on average, while the 87 Session 2 companies saw their stocks rise 9.7 percent during the AeA Classic.
The four-day conference was divided into two sessions, the first for companies with market capitalization or revenue over $300 million and the second for those between $100 and $300 market cap or revenue.
"The Classic this year was very different from last year," said William T. Archey, AeA president and CEO. "The level of representation from the investment community was much more senior, there was a genuine interest in finding new companies and technologies, and the analysts were clearly more upbeat about the tech industry than they were a year ago. Our member companies were overwhelmingly pleased with the turnout."
The investors seemed to agree:
"The importance of the AeA Classic was more evident this year as a forum to bring technology companies and investors together where fewer opportunities exist today," said Rex Sherry, Managing Director for Merrill Lynch, who attended the conference last week. "The AeA Classic provides critical insights on topical issues that affect both the financial and investor communities."
The diversity of AeA's membership was evident at the AeA Classic. Presenting companies represented the spectrum of high technology; from Internet, wireless, security and defense technologies to software, semiconductor, computer and medical device manufacturing.
O'Neil data systems based in Los Angeles, conducted all data analysis for this news piece.
Advancing the business of technology, AeA is the nation's largest high-tech trade association. AeA's more than 3,000 member companies span the high-technology spectrum, from software, semiconductors and computers to Internet technology, advanced electronics and telecommunications systems and services. With 17 regional U.S. councils and offices in Brussels and Beijing, AeA offers a unique global policy grassroots capability and a wide portfolio of valuable business services and products for the high-tech industry. AeA has been the accepted voice of the U.S. technology community since 1943. Please visit www.aeanet.org for more information.
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|Date:||Nov 15, 2002|
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