Tonight's SDLI mentions:
interactive.wsj.com
. . . One way the Invesco Technology II fund (FTCHX) has insulated itself is by investing in a large number of companies, more than 120, in fact. "No one position killed us," says analyst Michelle Espelien, who adds that its largest position, SDL (SDLI), is no more than 2% of total assets.
The fund's assets are more than $4 billion, giving it a low expense ratio of 1.2%. In spite of sliding 18.58% from March 10 to June 21, Invesco Technology still sports a 13.1% year-to-date gain, and 54.3% annualized return over the past three years. A 23% position in semiconductors has helped the fund. Espelien notes that companies specializing in communications semiconductors - such as SDL and top 10 holding PMC-Sierra - account for half of the fund's stake in the sector. . . .
One I missed last Friday:
quote.bloomberg.com
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SDL, INC. LEASES 133,000 SQUARE FEET IN PISCATAWAY: SUDLER'S CORPORATE PARK 287 NEARS FULL OCCUPANCY
Piscataway, New Jersey, June 23, 2000 -- Peter D. Sudler, president of The Sudler Companies, announced one of the year's largest deals along the Interstate 287 corridor. SDL, Inc. (NASDAQ: SDLI) has leased Two Corporate Place South in Piscataway, New Jersey, a 133,000-square-foot building within Corporate Park 287, a 3 million-square-foot mixed-use complex developed and owned by The Sudler Companies. This 10-year deal brings the park to nearly 100 percent occupancy. David Houston, Warren Searles and Charlie Parmelli of Colliers Houston represented Sudler in the transaction, and Jay Phillips and Dan Casey of CB Richard Ellis represented SDL.
Founded in 1983, SDL manufactures products that power the transmission of data, voice, video and Internet information over fiber optic networks to meet the needs of telecommunications, DWDM, cable television and satellite communications applications. SDL's optical products also serve a variety of non-communications applications, including materials processing and printing. Headquartered in San Jose, California, the company will relocate its East Coast manufacturing facility from South Plainfield, New Jersey, to the new Middlesex County location this summer. SDL will manufacture fiber optic telecommunication products, as well as establish R&D and office facilities at the property.
Proposed interior renovation of the building will create a variety of facilities including "clean" rooms that will meet the specialized needs of SDL's manufacturing process. Sudler has already completed the renovation of the building's exterior, which features white marble and bronze tinted insulated glass.
Two Corporate Place South is a single-story building situated on 12 park-like acres. It features a cellular floor system, fiber optics, loading docks and 24-hour access. Corporate Park 287 includes a full-service cafeteria and day care facilities. It is conveniently located near restaurants, hotels, shopping centers and health clubs. Since its construction in 1980 and its renovation in 1989, Two Corporate Place South was occupied most recently by the Federal Emergency Management Agency (FEMA), and prior to that by Federal Home Loan Bank and Continental Insurance.
Other tenants at Corporate Park 287, which incorporates office, R&D, distribution and light manufacturing space, include American Express, Telcordia, Merrill Lynch, AT&T, Compaq, Nomura Securities, Bell Atlantic, Circuit City and Simmons Mattress. Sudler originally began development of the landmark park on the site of a former farm located on I-287 in 1970.
According to Peter Sudler, Piscataway is evolving as the target location for high-tech users in the region with an increase in leasing activity. "This transaction, and the fact that the park is nearly 100 percent filled, reflects the growing demand for large blocks of space," he noted. "Corporate Park 287 is designed to meet such needs for modern corporations that also require exceptional building services and management, as well as convenient access to major roadways for both its employee base and distribution efforts."
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