The Battle Road Tech Index™ dropped 2.3 percent for the week ended July 10, 2009, closing at 1246. For the week, 21 of the 25 Index components were in negative territory. Year-to-date, the index is up 25 percent, having started at a value of 1000.

The following companies were notable movers for the week:

Akamai (NASDAQ: AKAM, $18.49) fell 4.9 percent on the week. Investors fear that competition and spending weakness will eat into the company’s top line growth. Nearing the report date amid volatile markets, Akamai’s stock will likely continue to gyrate.

Verizon Communications (NYSE: VZ $28.62) dropped 5.3 percent this week on general negativity from analysts about the sector’s upcoming second quarter earnings reports. There is some skepticism that the recent bullishness in the US economy is only a short lived phenomenon, and that consumer spending may plummet yet again. Additionally, there are concerns that sales of the Palm Pre, by competitors AT&T (NYSE: T) and Sprint, may hurt sales of Verizon’s competing BlackBerries and LG smart phones.

Activision Blizzard (NASDAQ: ATVI, $11.29) is down 9.1 percent this week, following news that the company is delaying two major games. Activision had confirmed the delay of its new “Singularity” shooting game until the first quarter of 2010 instead of September of 2009. Separately, an analyst expects Activision to delay the long awaited “Star Craft 2”. The game was previously expected to be released in October 2009 and is widely expected to sell around three million copies upon its release, making it one of the most anticipated games of the decade.