posted
Undervalued stock, nice volume last few days, release on RITT published today by Streetinvesting.com.
Nov 29, 2006 (M2 PRESSWIRE via COMTEX) -- Streetinvesting.com is the author of this release. This release is a result of our current concentration on RiT Technologies Ltd. (NASDAQ:RITT) and their latest corporate developments and market performance. Our goal is to help investors seek a diversified portfolio by introducing techniques to help grasp a better understanding and concept of the market and the daily activities that a public company experiences. The first stage of this process is to continually track RiT Technologies Ltd. and use the information that we may find to our advantage. To learn more and become part of the acclaimed online financial newsletter community, visit www.streetinvesting.com for a complimentary subscription. RiT Technologies Ltd. was up 6.67% come market closure Tuesday. Investors also saw approximately 127,450 shares having traded hands come the toll of the day's closing bell.
Wall Street displayed a modest advance Tuesday, as traders seemed unphased by a significant decline in orders for manufactured goods and were encouraged to witness the first gain in existing home sales throughout the past eight months.
Investor sentiment also seemed to be unaffected by comments from Federal Reserve Chairman Ben Bernanke, who stated that he remains concerned that inflation or a steeper-than-expected decline in the housing market could harm an already slowing economy. Bernanke also remarked that inflation remains higher than he would like but that it could drop as the economy cools.
As many of you already know, the market incurred its worst session in over four month's Monday and some have speculated that Tuesday's success could be a positive correction.
According to preliminary calculations, the Dow Jones industrial average was up 14.74, or 0.12 percent, at 12,136.45, after losing 158 points the day prior.
Broader stock indicators also advanced, with the Standard & Poor's 500 index inching up 4.82, or 0.35 percent, at 1,386.72, and the Nasdaq composite index climbing 6.69, or 0.28 percent, to 2,412.61.
RiT Technologies Ltd. stood out in the crowd Tuesday and amidst the day's overall, negative results secured notable returns for shareholders.
In some of the most recent news to surface surrounding this Company, which we feel may have had an affect on the day's success in the marketplace, as well as an ongoing affect on shareholder outcome, RiT Technologies announced that it will be part of the new Dynamic Spectrum Management (DSM) Consortium, a multi-disciplinary R&D effort aimed at developing advanced next-generation broadband technologies.
The goal of the consortium is to deliver new technologies that outperform today's VDSL2, delivering fiber optic-like data transfer rates over copper wire infrastructure. As such, DSM will eliminate the need for replacing existing infrastructure with fiber optic cables, reducing the cost of providing streaming video, IPTV and other emerging ultra-high bandwidth services.
The consortium has been established as part of the Magnet R&D-encouragement program of Israel's Chief Scientist, which will provide it with funding of $10 million over the next three years. Led by ECI Telecom (Nasdaq: ECIL), the consortium will include an interdisciplinary team of researchers provided by RiT Technologies, Actelis, Bezeq, Amethist, Telefonica I+D and several other European telecommunications operators, together with Bar Ilan University, the Technion, and Tel Aviv University.
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