10-04 :: April 2010

nanotimes

Trends

Quotes

“There is no doubt that the crisis will leave us a heri- tage of severe macro-economic imbalances. Dealing with them will represent one of the most daunting challenges for policymakers in modern history.”

Jürgen Stark, ECB executive board member

“To summarise, the recovery in the US labour market could possibly resemble the recoveries of the early 1990s or 2000s in that it could occur later and be more subdued than in the other US post-war epi- sodes. Important characteristics of past jobless reco- veries – a weak upturn in activity as well as structural changes and the use of just-in-time employment practices – appear to also be present in the current episode.”

ECB Monthly Bulletin, April 2010

“Portugal is different from Greece. But its problems are no less severe. The problem in Portugal is not the state sector. Portugal’s gross public sector debt is projected by the EU to be about 85 per cent of gross domestic product by the end of this year. This is high, but not exceptionally so. On my calculations, using data from the World Bank, Portugal’s external debt-to-GDP ratio, including public and private sec- tors, is a staggering 233 per cent – the government at 74 per cent and the private sector 159 per cent. The net international investment position is about minus 100 per cent of GDP – the amount by which Portugal’s financial assets abroad are outweighed by assets owned by foreigners in Portugal.” Wolfgang Münchau: Greece is Europe’s very own subprime crisis, In: FT, April 25, 2010

Biggest Gainers /Decliners

Acacia Research (ACTG) +24.50% (04/23/2010)

Cabot Microelectronics (CCMP) -9.4% (04/22/2010)

Combimatrix (CBMX) -8.19% (04/20/2010)

Illumina (ILMN) +12.96% (04/29/2010)

Keithley Instruments (KEI) +12.37% (04/29/2010) +5.61% (05/05/2010)

Nanosphere (NSPH)

-8.35% (04/13/2010)

+10.16% (04/19/2010) +9.76% (04/20/2010)

Ultratech (UTEK) +12.01% (04/22/2010)

Research

3M Company (MMM)

– OVERWEIGHT (Barclays Capital) – NEUTRAL (Credit Suisse Group)

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