Stock Market Champs..........9-22-06

China Development Group Corp. (CTDC)

Last Trade:	4.65
Trade Time:	4:00PM ET
Change:	1.50 (47.62%)

China Technology Development Group Corp., a Hong Kong-based provider of network security products and services, said Friday it regained compliance for continued listing with the Nasdaq stock market.

The company, which was granted a hearing by the Nasdaq Listings Qualifications Panel on Sept. 7, said because it filed its 2005 financial results on Tuesday, it is no longer delinquent and its stock will continue to be listed on the Nasdaq.

Shares of CTDC, which have traded between $1.20 and $14.50 over the last year, were up $1.24, or 49.4 percent, at $4.39 in afternoon trading, a retreat from their intraday high of $5.17. Volume was more than 10 times normal daily trading.

Talk America Holdings Inc. (TALK)

Last Trade:	8.20
Trade Time:	4:00PM ET
Change:	1.63 (24.81%

Broadband voice and data services provider Talk America Holdings Inc. said Friday it agreed to be acquired by Cavalier Telephone & TV for $8.10 per share, or $251 million.

The $8.10 price represents a 23 percent premium over Talk America's closing price Thursday.

Cavalier is a privately held telecommunications company based in Richmond, Va. The combined company will serve more than 550,000 residential customers and 85,000 business customers and will have more than 2,000 staffers.

The companies expect to have combined 2006 revenue of $760 million.

The deal is expected to close in December. After completion, Talk America Chief Executive Ed Meyercord will become chief executive of Cavalier and Brad Evans, current Cavalier chief executive, will become executive chairman.

Talk America shares rose $1.40, or 21.3 percent, to $797 in afternoon trading on the Nasdaq.

DIVX (DIVX)

Last Trade:	18.70
Trade Time:	4:00PM ET
Change:	2.70 (16.88%)

COMMVAULT SYSTEMS (CVLT)

Last Trade:	17.00
Trade Time:	4:00PM ET
Change:	2.50 (17.24%)

Shares of software makers CommVault Systems Inc. and DivX Inc. jumped in market debuts on Friday, continuing a recent uptick for initial public offerings in the technology sector.

After a difficult year for tech IPOs with ten delayed offerings, shares of DivX and CommVault gained in openings on Friday, after pricing at the top or above a forecast range.

"The bigger picture is that these deals are strong fundamentally," said David Menlow, president of IPOfinancial.com. "Market gyrations shouldn't turn sentiments toward these deals into any negative thinking."

CommVault shares opened up 10 percent at $16 and closed at $17 on the Nasdaq.

Shares of DivX opened up 22 percent at $19.50, climbing as high as $20.44, before closing at $18.70 on the Nasdaq.

Both companies trade at roughly 50 times expected 2006 earnings, but have strong revenue growth and high gross margins, which bodes well for sustained gains, said Francis Gaskins, an independent IPO analyst and president of IPO Desktop.

"What people are looking for is top-line revenue growth where the company's technology is being adopted," Gaskins said. "(DivX and CommVault) are in the spotlight now."

CommVault designs software that backs up, protects and recovers data and sells products under the QiNetix brand.

For the three months ended June 30, the Oceanport, New Jersey-based company earned $3.34 million on $33.5 million in total revenue.

The company's 11.1 million share offering raised $161 million on Thursday after pricing at $14.50, the top of range, and gave the company an initial market capitalization of almost $604 million.

Media software maker DivX roughly doubled revenue from technology licensing between the first half of 2005 and 2006.

The San Diego, California-based company's software was downloaded more than 50 million times over the last 12 months, according to financial statements submitted to the U.S. Securities and Exchange Commission.

The 9.1 million share offering raised $145.6 million on Thursday, pricing at $16 per share, above a forecast range, and gave the company an initial market capitalization of about $535 million.