Telecom Stocks: Telecoms rebound to close higher; UTStarcom gains

"The index derived much of its momentum from UTStarcom Inc. Last: 6.47+1.06+19.59%, whose stock surged as much as 20% despite a subpar quarterly results and a lower forecast. The company said it would cut more jobs and expenses to counter a decline in sales."

Lots of insider selling in UTSI, despite mgmt acquisitions in april 04 time frame - price at the time was $14 or so