RightNow Technologies' stock had the biggest move of the Disruptive Technology Portfolio companies after management said it expects cash flow to be 30% to 50% less this year than previously estimated, pushing the stock down almost 15% in the week. Management blamed shorter contracts--down to 20 months from about 30--resulting from a new sales compensation plan. RightNow is transitioning to a completely subscription-based model, and incentives were too heavily weighted to first-year cash collection.

The earnings conference call included news that Jay Rising, head of field operations, resigned. Rising, who joined the CRM vendor from ADP in October, was never fully content with his role at the company and decided to resign, management said. RightNow's 1Q results were slightly above expectations, but the cash-flow shortfall and Rising's resignation overshadowed that.

Overall, the 29-stock portfolio grew 0.9% compared with the S&P 500, which grew 1.6%. Sixteen stocks in the index ended in positive territory, while 13 declined.

Disruptive Technology Portfolio
		Stock Price 4/25/07	% Change Weekly	% Change Year To Date
AAPL	Apple Computer	$95.35	5.5%	12.4%
BIDU	Baidu.com, Inc.	$104.68	5.7%	-7.1%
BBBB	Blackboard	$33.77	1.9%	12.4%
BRCM	Broadcom	$34.29	3.9%	6.1%
CNQR	Concur Technologies	$18.20	0.4%	13.5%
CRM	salesforce.com	$42.58	0.6%	16.8%
CTSH	Cognizant Technology	$89.58	2.0%	16.1%
DRIV	Digital River	$56.47	1.4%	1.2%
EBAY	Ebay	$33.77	-2.0%	12.3%
GOOG	Google Inc.	$477.99	0.4%	3.8%
INFY	Infosys	$53.59	-2.1%	-1.8%
KNXA	Kenexa	$29.37	-8.5%	-11.7%
MFE	McAfee	$29.67	1.6%	4.5%
MRVL	Marvell	$16.75	-2.5%	-12.7%
NOVL	Novell	$7.15	-3.4%	15.3%
NSR	Neustar	$28.84	-0.4%	-11.1%
NVDA	Nvidia Corp.	$33.11	6.5%	-10.5%
RHT	Red Hat	$22.14	-2.5%	-3.7%
RIMM	Research in Motion	$135.53	0.9%	6.1%
RNOW	RightNow Tech	$15.20	-14.8%	-11.7%
TLEO	Taleo	$15.89	-5.5%	16.2%
TIBX	TIBCO, Inc.	$9.60	2.3%	1.7%
TXN	Texas Instruments	$35.34	10.6%	22.7%
ULTI	Ultimate Software	$26.83	-0.6%	15.3%
VRSN	Verisign	$26.98	1.1%	12.2%
WEBX	WebEx Communications	$56.74	-0.2%	62.6%
WIND	Wind River	$10.12	0.1%	-1.3%
WIT	Wipro	$16.49	-1.0%	2.1%
YHOO	Yahoo! Inc.	$28.06	-0.9%	9.9%
	DTP Index Value	$262.76	0.9%	5.5%
SPX	S&P 500	$1,495.42	1.6%	5.4%

© 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 equity.research@csfb.com or calling 1-877-291-2683.

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Disruptive Technology Portfolio