Every portfolio needs an uptic.
At Sonus Networks, which will be entitled later to a dramatic bounce after leading the networking sector down with its thunderous Thursday dive, chairman of the board is Rubin Gruber while the president and CEO is Hassan Ahmed. The big fuss after Wednesday's close, followed Thursday by voluminous sympathetic dives in bottom-broadening cases ranging from Cisco to Sun Microsystems, had involved a statement from Sonus that it didn't expect to turn a profit through the balance of 2001. Overlooked by sellers responding next morning to this news was the simple point that Sonus is still essentially a startup and on this basis remains more interested in spending money than in making it. We put in orders to buy some shares this morning and will accumulate during intraday dips until it is ready to run. Of major potential significance, meanwhile, has been the amount of sympathetic or imitative fallout precipitated by the Sonus dive across such a wide belt of technology issues that with early pressure on Intel, IBM and Microsoft the Dow Jones Industrial Average initially fell more than 100 points.