The Battle Road Tech Index™ rose 0.1 percent for the week ended October 16, 2009, closing at 1552. For the week, 13 of the 25 Index components declined in value. Year-to-date, the index is up 55.2 percent, having started at a value of 1000.

The following companies were notable movers for the week:

Shares of Akamai (NASDAQ: AKAM, $21.80) rose 7.3 percent this week, aided by the up market and a rumor that Google might acquire the company. While we believe Akamai to be a persistent takeover candidate, Google is unlikely to be a suitor. Investors are cautiously optimistic that although competition in the content delivery (CDN) space remains fiercely competitive, as the spending recovery picks up steam, Akamai will resume an impressive growth trajectory.

Google (NASDAQ: GOOG, $549.85) shares rose 6.5 percent, as the company reported revenue and EPS a bit ahead of Street expectations. Total revenue for the quarter, excluding Traffic Acquisition Costs –the advertising fees that Google pays back to Google Network members on whose sites the ads appear— was $4.4 billion, an increase of 8.5% over the prior year. This marked a sequential improvement in sales from the June quarter, and re-kindled hope that the online advertising market will begin to grow back to prior levels. Google also expressed optimism by stating its intention to resume hiring in all areas of R&D, marking the first time in several quarters that it would begin to grow its employee base. Consistent with prior quarters, Google management failed to provide any financial guidance, not even an expected tax rate for the next quarter.

Netflix (NASDAQ: NFLX, $48.99) shares climbed 4.4 percent, possibly in anticipation of the company’s intent to launch on October 29th an original multi-part series of Internet based broadcasts that will feature Roger Corman, the legendary horror film creator of, among other classics, “Little Shop of Horrors.” Netflix intends this to be the first of three “webisodes” that will continue through Halloween and Friday the 13th. Taking advantage of the unique aspects of internet based delivery, the audience will be able to see and interact with Corman, the octogenarian, who will describe the inspiration behind his characters.

Nokia (NYSE: NOK, $13.48) shares fell by 8.2 percent this week following disappointing Q3 earning results. On Thursday, October 15, Nokia reported a major write-down to its struggling networks unit and revealed a drop in smartphone sales. The company booked a loss of $1.4 billion from its Nokia Siemens Networks (NSN) joint venture, citing challenging market conditions and dragging the company to a reported loss per share of $0.23. Nokia also said its smartphone market share fell to 35 percent in the third quarter from 41 percent the previous quarter. Earlier Friday, October 16, Nokia also announced several management changes.