May 21, 2013

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Click HERE to Download a FREE Sample of the ValuEngine View Newsletter VALUATION WATCH: Our models find that overvaluation is at levels typically seen when market pullbacks occur. Overvalued stocks now make up almost 73% of our universe and almost 35% of the universe is calculated to be overvalued by 20% or more. 15 of 16 sectors are calculated to be overvalued--14 of them by double digits.

Vociferous Gain
--Vocera Communications Inc Jumps almost 20% in Three Days
Vocera Communications Inc. provides mobile communication solutions focused on addressing critical communication challenges facing hospitals. The Company's solutions consist of its Voice Communication, new Messaging and Care Transition solutions. It enables users to communicate with a Vocera Wi-Fi (TM) Smartphone or Vocera Connect application for smartphones including Blackberry, iPhone, and Android devices. Vocera Communications Inc. is headquartered in San Jose, Calif. Vocera was the Tech sector pick for our VE Forecast 16 Market Neutral Newsletter for this month.Since our rebalance last week, Vocera has jumped up nicely and is up more than 18%.

ValuEngine Forecast
Target Price* Expected Return 0.91% 0.65% -0.12% 10.91% -0.60% 0.55%

1-Month 3-Month 6-Month 1-Year 2-Year 3-Year

15.13 15.09 14.97 16.63 14.9 15.07

Valuation & Rankings

Valuation 1-M Forecast Return 12-M Return Sharpe Ratio 5-Y Avg Annual Return Volatility Expected EPS Growth Market Cap (billions) Trailing P/E Ratio Forward P/E Ratio PEG Ratio Price/Sales Market/Book Beta Alpha 26.66% undervalued 0.91% -37.85% n/a n/a 29.83% -146.67% 0.37 n/a n/a n/a 3.65 3.15 0.26 -0.14 Valuation Rank 1-M Forecast Return Rank Momentum Rank Sharpe Ratio Rank 5-Y Avg Annual Rtn Rank Volatility Rank EPS Growth Rank Size Rank Trailing P/E Rank Forward P/E Ratio Rank PEG Ratio Rank Price/Sales Rank Market/Book Rank Beta Rank Alpha Rank 89 96 15 n/a n/a 74 2 57 23 n/a n/a 23 33 92 44

Market Overview
Summary of VE Stock Universe
Stocks Undervalued Stocks Overvalued Stocks Undervalued by 20% Stocks Overvalued by 20% 27.21% 72.79% 11.24% 34.51%

Sector Overview
Sector
Aerospace Auto-Tires-Trucks Basic Materials Business Services Computer and Technology Construction Consumer Discretionary Consumer Staples Finance Industrial Products Medical Multi-Sector Conglomerates Oils-Energy Retail-Wholesale Transportation Utilities

Change
0.28% 0.20% 1.66% 0.32% 0.60% 0.03% 0.20% -0.40% 0.09% 0.59% -0.24% -0.03% 1.83% 0.18% 0.28% -0.11%

MTD
4.90% 9.51% -0.11% 5.86% 6.68% 5.69% 5.38% 2.35% 4.28% 8.37% 2.16% 3.91% 5.81% 5.82% 7.10% 4.20%

YTD
20.93% 23.81% 2.75% 16.58% 17.13% 27.31% 22.27% 12.23% 19.14% 23.21% 16.99% 10.83% 15.75% 26.82% 25.84% 14.57%

Valuation
17.88% overvalued 23.63% overvalued 8.05% undervalued 16.47% overvalued 17.08% overvalued 21.26% overvalued 19.02% overvalued 21.59% overvalued 21.00% overvalued 13.32% overvalued 15.60% overvalued 13.74% overvalued 7.65% overvalued 23.02% overvalued 22.17% overvalued 12.44% overvalued

Last 12MReturn
28.67% 31.62% -22.51% 23.82% 12.87% 42.64% 23.70% 17.08% 22.40% 21.73% 17.87% 23.34% 4.09% 32.75% 16.79% 16.04%

P/E Ratio
15.75 18.15 19.4 23.71 28.45 24.65 23.97 20.72 18.32 19.01 25.69 16.64 27.02 22.32 20.98 20.28