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Two IBO stock indexes show impressive gains.

May started with upbeat earnings announcements and mergers and acquisitions news that helped sustain the strong April rally. On May 3, better than expected first quarter productivity data and lower than expected labor costs helped push the Dow Jones Dow Jones

the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202]

See : Finance
 Index to another record close and the S&P 500 Index to cross the 1,500 mark for the first time since 2000. On May 9, the Federal Reserve announced that the target for the federal funds rate Federal Funds Rate

The interest rate at which a depository institution lends immediately available funds (balances at the Federal Reserve) to another depository institution overnight.
 would remain at 5.25%. This reassurance REASSURANCE. When an insurer is desirous of lessening his liability, he may procure some other insurer to insure him from loss, for the insurance he has made this is called reassurance.  helped push the Dow (Direct OverWrite) See magneto-optic disk.  to a new record close of 13,362.87 and to boost the S&P, NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
, and European European

emanating from or pertaining to Europe.


European bat lyssavirus
see lyssavirus.

European beech tree
fagussylvaticus.

European blastomycosis
see cryptococcosis.
 and Asian markets as well. However, the next day, reports of weak April retail sales and guidance and a higher trade deficit led to a market pullback Pullback

A falling back of a price from its peak. This type of price movement might be seen as a brief reversal of the prevailing upward trend, signaling a slight pause in upward momentum.
. The Dow, S&P and NASDAQ declined 1.1%, 1.4% and 1.65%, respectively. On May 15, the Dow regained some of its previous losses on news of soft inflationary in·fla·tion·ar·y  
adj.
Of, associated with, or tending to cause inflation: inflationary prices; inflationary policies.

Adj. 1.
 and lower than expected Consumer Price Index data, but the rest of the market declined. Despite favorable fa·vor·a·ble  
adj.
1. Advantageous; helpful: favorable winds.

2. Encouraging; propitious: a favorable diagnosis.

3.
 data on new home sales New Home Sales

An economic indicator that measures sales of newly built homes. Released by the U.S. Department of Commerce's Census Bureau, it includes both quantity and price statistics.
 and durable goods durable goods

Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables.
 orders, the market finished in the red on May 24. Ironically i·ron·ic   also i·ron·i·cal
adj.
1. Characterized by or constituting irony.

2. Given to the use of irony. See Synonyms at sarcastic.

3.
, on May 31, with news that US growth slowed to 0.6% in the first quarter, the slowest in five years, the Years, The

the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109]

See : Time
 markets edged slightly higher. Mergers and acquisitions and hope that sluggish economic growth would mitigate mit·i·gate
v.
To moderate in force or intensity.



miti·gation n.
 inflation concerns led the indexes to finish May at or near new highs. For the month, the Dow and S&P 500 climbed to record highs, up 4.3% and 3.3% to 13,627.64 and 1,530.62, respectively. The NASDAQ grew 3.1% to $2,604.52. Year to date, the Dow is up 9.3%, the S&P 500 has risen 7.9% and NASDAQ has gained 7.8%.

Three of the four IBO Ibo: see Igbo.  Stock Indexes ended May in positive territory, while the Process/Metrology/Motion Instrumentation instrumentation, in music: see orchestra and orchestration.
instrumentation

In technology, the development and use of precise measuring, analysis, and control equipment.
 Stock Index slipped 0.1%. The Diversified diversified (di·verˑ·s  Instrumentation Stock Index led the Indexes, gaining 5.5%. The Lab Consumables/Equipment Stock Index was up 4.0% and the Process/Metrology/Motion Instrumentation Stock Index gained 1.3%.

Laboratory Instrumentation Stock Index

In May, the Laboratory Instrumentation Stock Index climbed 1.3% to close at 576.11. Following its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. , STARLIMS (see page 2) was added to the Index. Excluding STARLIMS, 11 companies climbed higher, 10 declined and one remained unchanged. CombiMatrix CombiMatrix Corp. NASDAQ: CBMX is a company that, among other things, makes DNA microarrays using electrochemistry on arrays of microelectrodes. The arrays are built on semiconductor chips.  and X-Rite X-Rite, Inc. is a manufacture of color matching products located in Kentwood, Michigan, United States. Their products include those used for matching paint colors (Totalizing Fluid Meter and Counting Device Manufacturing).  led the Index, gaining 28% and 20%, respectively, while Bruker Bruker originally started as a German company specialized in nuclear magnetic resonance (NMR), but has evolved into an international company with products covering a gamut of biological, chemical and medical fields. There are two companies that carry the Bruker brand.  BioSciences and Caliper caliper

Instrument that consists of two adjustable legs or jaws for measuring the dimensions of material parts. Spring calipers have an adjusting screw and nut; firm-joint calipers use friction at the joint to hold the legs unmoving.
 Life Sciences lost the most ground, falling 26% and 19% respectively. For the year, the Index is up 6.8%, with Transgenomic leading the way, climbing 58%, while Symyx Technologies Symyx Technologies NASDAQ: SMMX is a pioneer in the area of combinatorial chemistry applied to heterogeneous catalysis and homogeneous catalysis, polymer formulations, electronic and magnetic materials.  continues to show weakness, down 51%.

[GRAPHIC OMITTED]

In acquisition news, on May 2, Beckman Coulter This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article.  increased its offer for Biosite by $5 per share to $90 for a deal valued at $1.67 billion, matching the offer by Inverness Inverness, town, Scotland
Inverness (ĭn'vərnĕs`), town (1991 pop. 39,736), Highland, N Scotland, on the Moray Firth at the mouth of the Ness River.
 Medical. Beckman's stock declined 1.8%. The following day, Beckman Beckman or Beckmann may refer to:
  • Arnold O. Beckman, American chemist
  • Arnold O. Beckman High School, a high school in Irvine, California named after Arnold O. Beckman
  • Beckman Coulter, a biomedical laboratory instruments company founded by Arnold O.
 announced a dividend payout pay·out  
n.
1. The act or an instance of paying out.

2. A percentage of corporate earnings that is paid as dividends to shareholders.
 of $0.16 per share and was upgraded from "Sector Perform" to "Outperform Outperform

An analyst recommendation meaning a stock is expected to do slightly better than the market return.

Notes:
Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy.
" by RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers
Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
  • Canada: RBC Dominion Securities Inc
, sending shares up 2.3%. However, on May 21, Biosite agreed to be acquired by Inverness after Beckman refused to increase its offer, leading Beckman shares 1.1% higher. On May 16, Bio-Rad Bio-Rad Laboratories is a life science research, clinical diagnostics and informatics company based in Hercules, California, United States. It was founded in 1957 by David & Alice Schwartz.  Laboratories agreed to buy a 77.7% stake in DiaMed Holding AG for $390 million, with the remaining 12.7% to be purchased through a tender offer. Bio-Rad slipped 0.37%.

For some smaller companies, announcements had a noticable impact. On May 7, CombiMatrix received commitments to purchase $5 million of its Acacia acacia (əkā`shə), any plant of the large leguminous genus Acacia, often thorny shrubs and trees of the family Leguminosae (pulse family).  Research-CombiMatrix common stock and warrants in a registered direct offering, sending shares up 12.3%. After the market's close on May 7, SEQUENOM reported a 43% increase in quarterly sales (see page 12), but shares fell 3.9%. However, on May 11, SEQUENOM rebounded 8.1% after Rodman rod·man  
n.
One who carries and employs a leveling rod under the supervision of a surveyor.
 & Renshaw Renshaw may refer to:
  • USS Renshaw, several US Navy ships with this name
  • Renshaw (surname), people with the surname Renshaw
See also
  • Renshaw cell
 initiated coverage with a "Market Outperform market outperform

An analyst recommendation that a stock is expected to outperform the overall market.
." And, on May 31, the company climbed 3.8% on news that it would provide quantitative gene quantitative gene
n.
See polygene.
 expression services to the Immune Tolerance Immune or immunological tolerance is the process by which the immune system does not attack an antigen. It occurs in three forms: central tolerance, peripheral tolerance and acquired tolerance.  Network. Bruker BioSciences declined 28.8% over the first four trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends.  of the month, after releasing first quarter earnings on April 30 (see page 10). In other news, MOCON increased its quarterly dividend on May 18 by 7% to $0.08 per share, sending shares up 0.8%. On May 16, UBS UBS Union Bank of Switzerland
UBS United Bible Societies
UBS United Blood Services
UBS United Buying Service
UBS Used Bookstore
UBS University Business Services
UBS Universal Building Society (UK)
UBS Ulaanbaatar Broadcasting System
 reiterated its "Buy" rating on Thermo Fisher Scientific Fisher Scientific, formally Fisher Scientific International, Inc. and colloquially Fisher was a biotechnology company that provided products and services to the global scientific research and United States clinical laboratory markets.  and raised the target price, sending shares up 0.8%.

Process/Metrology/Motion Instrumentation Stock Index

The Process/Metrology/Motion Instrumentation Stock Index slipped 0.1% to 486.87 in May. Four companies declined and one traded fiat [Latin, Let it be done.] In old English practice, a short order or warrant of a judge or magistrate directing some act to be done; an authority issuing from some competent source for the doing of some legal act. , while two ended the month higher. MTS (1) See Microsoft Transaction Server.

(2) (Modular TV System) The stereo channel added to the NTSC standard, which includes the SAP audio channel for special use.

1. MTS - Message Transport System.
2.
 Systems recorded the only significant gain, up 3%, while RAE Systems led all decliners, dropping 8%. Year to date, the Index is up 16.2%, led by FEI FEI

Fédération Équestre Internationale.
 and Strategic Diagnostics (1) Software routines that test hardware components (memory, keyboard, disks, etc.). Diagnostics are often stored in ROM chips and activated on startup.

(2) Error messages in a programmer's source code that refer to statements or syntax that the compiler or assembler
, up 41% and 29%, respectively. Nanometrics has led all decliners, falling 22%.

On May 24, AmTech/JSA Research initiated coverage on Veeco Veeco Vacuum Electronic Equipment Company  Instruments with a "Buy" recommendation, sending shares 0.9% higher. Near the end of the month, Strategic Diagnostics recorded a significant jump in trading volume Trading volume

The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares.
 with no news or announcements, leading investors to speculate on possible acquisition deals. The largest trading volume was recorded on May 25 when shares increased 4.7%.

Lab Consumables/Equipment Stock Index The Laboratory Consumables/Equipment Stock Index grew 4.0% in May to 450.53. Seven companies ended up in positive territory while two companies decreased in price. Invitrogen Invitrogen Corporation (NASDAQ: IVGN) is a life science research company, providing products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition.  gained the most, up 11%, while New Brunswick New Brunswick, province, Canada
New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada.
 Scientific led decliners for the second straight month, down 7%. For the year, the Index has risen 18.1%, with seven companies up in double-digit dou·ble-dig·it
adj.
Being between 10 and 99 percent: double-digit inflation. 
 figures and only New Brunswick in negative territory, down 3%. Stratagene and Pall lead the Index, up 46% and 30%, respectively.

After the market's close on May 1, Invitrogen reported strong first quarter earnings, sending shares up 4.8% to close the next trading day at a 52-week high of $69. The same day, analysts from Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. , Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking.  and Bank of America
See also:  and


Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.
 increased their 2007 earnings per share estimates to $3.51 from $3.40 and raised their price targets. ThinkEquity Partners increased its price target and maintained its "Accumulate Accumulate

Broker/analyst recommendation that could mean slightly different things depending on the broker/analyst. In general, it means to increase the number of shares of a particular security over the near term, but not to liquidate other parts of the portfolio to buy a security
" rating. To enhance its SAFC SAFC South Australian Film Corporation
SAFC Sunderland Association Football Club
SAFC Securities America Financial Corporation
SAFC South Australia Film Corporation
SAFC Stirling Albion Football Club (UK) 
 Pharm business, Sigma-Aldrich announced the purchase of Molecular BioServices for an undisclosed amount on May 9. Shares reacted favorably fa·vor·a·ble  
adj.
1. Advantageous; helpful: favorable winds.

2. Encouraging; propitious: a favorable diagnosis.

3.
, climbing 1.4%.

Diversified Instrumentation Stock Index

The Diversified Instrumentation Stock Index increased 5.5% for the month to 107.65, with all six companies improving and Agilent (Agilent Technologies, Santa Clara, CA, www.agilent.com) The test and measurement subsidiary of HP. In 1999, HP split off the division that started the company into an independent subsidiary named Agilent Technologies. At the time, the $2.  leading the Index, gaining 11%. For the year, the Index is up 7.7%, with all companies in positive territory.

On May 1, Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street.  upgraded Danaher from "Neutral" to "Buy," citing accelerated organic revenue growth. Goldman Gold·man   , Emma 1869-1940.

Russian-born American anarchist. Jailed repeatedly for her advocacy of birth control and opposition to military conscription, she was deported to the Soviet Union in 1919.
 raised its 12-month price target on the stock to $81 from $76, leading shares to climb 2.3% over the following two days. On May 24, Danaher agreed to acquire ChemTreat for $435 million in cash and, after the market's close, increased its dividend by 50% to $0.03 a share. The following day, shares climbed 3.2%. Standard & Poor's Rating Services raised its rating on Roper Industries to an investment-grade investment-grade

Of, relating to, or being a bond suitable for purchase by institutions under the prudent man rule. Investment-grade is restricted to those bonds graded BBB and above by Standard & Poor's and graded Baa3 and above by Moody's.
 designation from a noninvestment-grade designation on May 18, sending shares up 1.2%. After the market's close on May 14, Agilent reported second quarter revenues of $1.32 billion (see page 9), in line with analysts' expectations, but earnings per share fell $0.01 short of expectations of $0.44. Both Goldman and Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG.  increased their price target, leading shares 5.2% higher.

International

This month, all Pacific Region companies were in positive territory. Techcomp, Shimadzu and Horiba rose 19%, 18%, and 12%, respectively. For the year, four of the five Pacific Region companies have improved in double digits Double Digits was a pricing game on the American television game show, The Price Is Right. Played from April 20, 1973 through May 18, 1973's show, it was played for a car and used small prizes. , with only Hitachi Hitachi (hētä`chē), city (1990 pop. 202,141), Ibaraki prefecture, E central Honshu, Japan, on the Kashima Sea. The city is a leading producer of Japan's electrical equipment.  declining, down 11%.

In May, 10 European companies It may never be fully completed or, depending on its its nature, it may be that it can never be completed. However, new and revised entries in the list are always welcome.

This is a list of companies from the countries in the European Union.
 in the stock table lost ground and four improved. Leading the growth, Millbrook Millbrook may refer to: Geographic places
United States
  • Millbrook, Alabama
  • Millbrook, New York
  • Millbrook, West Virginia
United Kingdom
 rebounded 24% after a poor April. Genetix and Alpha MOS (1) (Metal Oxide Semiconductor) See MOSFET.

(2) (Mean Opinion Score) The quality of a digitized voice line. It is a subjective measurement that is derived entirely by people listening to the calls and scoring the results from
 lost the most ground, falling 19% and 12%, respectively. For the year, eight European companies have positive returns and six show negative returns. Biohit and Spectris Spectris plc (LSE: SXS) is a leading supplier of precision instrumentation and controls. External links
  • Official site

This article or section needs sources or references that appear in reliable, third-party publications.
 lead the way, up 36% and 19%, respectively, while Millbrook has continued to show the largest loss, down 25%.
                                              Market          52 Week
                                              Value
Company: Exchange                           (US $000s)     Low     High

Laboratory Instrumentation
Affymetrix: o                               $1,764,172   17.50    31.95
Applied Biosystems: n                       $5,428,906   27.91    39.49
Beckman Coulter: n                          $4,144,790   50.54    68.20
Bio-Red Laboratories: a                     $2,028,553   62.66    88.54
Bruker BioSciences: o                         $899,783    4.52    11.56
Caliper Life Sciences: o                      $216,103    3.95     6.43
Cepheid: o                                    $643,640    6.50    13.14
CombiMatrix: o                                 $35,711    0.50     1.93
Dionex: o                                   $1,386,166   45.76    73.70
Harvard Bioscience: o                         $162,307    3.49     6.18
Illumina: o                                 $1,743,160   23.95    45.87
Luminex: o                                    $410,486   11.82    20.75
MOCON: o                                       $63,760    8.57    14.10
O.I. Corp: o                                   $35,489    9.53    15.46
PerkinElmer: n                              $3,267,702   16.31    26.60
SEQUENOM: o                                   $145,160    1.33     6.24
STARLIMS: n                                   $115,861     N/A      N/A
Symyx Technologies: o                         $348,580    9.86    27.37
Thermo Fisher Scientific: n                $24,084,060   33.85    53.90
Transgenomic: o                                $34,925    0.31     0.89
Varian Inc.: o                              $1,820,348   38.65    60.50
Waters: n                                   $6,222,839   38.65    60.50
X-Rite: n                                     $433,436    7.50    15.47

Process/Metrology/Motion
  Instrumentation
FEI Company: o                              $1,680,890   18.78    39.25
MTS Systems: o                                $813,916   30.86    44.40
Nanometrics: o                                $109,303    5.74    11.41
RAE Systems: n                                $150,032    2.40     4.54
Strategic Diagnostics: o                       $99,157    2.37     5.40
Veeco Instruments: o                          $566,812   16.91    25.00
Zygo: o                                       $282,048   11.95    17.65

Lab Consumables/Equipment
Invitrogen: o                               $3,499,359   54.70    73.77
Kewaunee Scientific: o                         $27,897    7.38    11.90
Millipore: n                                $4,092,461   59.58    77.75
New Brunswick Scientific: o                    $72,981    7.00     9.49
Pall: n                                     $5,583,950   25.26    45.45
QIAGEN: o                                   $2,722,549   12.80    18.18
Sigma-Aldrich: o                            $5,799,520   33.38    43.82
Stratagene: o                                 $244,415    3.98    10.95
TECHNE: o                                   $2,360,322   45.27    61.97

Diversified Instrumentation
Agilent Technologies: n                    $15,764,210   26.96    38.97
AMETEK: n                                   $4,033,689   26.39    38.15
Danaher: n                                 $24,104,325   59.72    75.97
Mettler-Toledo Int'l: n                     $3,826,984   56.59   101.88
Roper Industries: n                         $5,386,628   41.23    58.51
Teledyne Technologies: n                    $1,649,664   29.10    48.09
Laboratory Instrumentation Stock Index
Process/Metrology/Motion Instrumentation
Lab Consumables/Equipment Stock Index
Diversified Instrumentation Stock Index
Dow Jones Industrial Average
S&P 500
NASDAQ Composite

                                              Price     Change   Change
Company: Exchange                          5/31/2007   1 Month    YTD

Laboratory Instrumentation
Affymetrix: o                                $25.98       -1%      13%
Applied Biosystems: n                        $28.39       -9%     -23%
Beckman Coulter: n                           $65.40        4%       9%
Bio-Red Laboratories: a                      $74.70        6%      -9%
Bruker BioSciences: o                         $8.54      -26%      14%
Caliper Life Sciences: o                      $4.60      -19%     -20%
Cepheid: o                                   $11.70        3%      38%
CombiMatrix: o                                $0.68       28%     -14%
Dionex: o                                    $70.90        3%      25%
Harvard Bioscience: o                         $5.17       -7%       1%
Illumina: o                                  $32.63        0%     -17%
Luminex: o                                   $12.41      -10%      -2%
MOCON: o                                     $11.65      -10%      -8%
O.I. Corp: o                                 $12.40       -3%       9%
PerkinElmer: n                               $26.51       10%      19%
SEQUENOM: o                                   $4.34       18%      -7%
STARLIMS: n                                  $13.48       N/A      N/A
Symyx Technologies: o                        $10.49       -9%     -51%
Thermo Fisher Scientific: n                  $54.60        5%      21%
Transgenomic: o                               $0.71      -11%      58%
Varian Inc.: o                               $58.85        2%      31%
Waters: n                                    $60.30        1%      23%
X-Rite: n                                    $14.96       20%      22%

Process/Metrology/Motion
  Instrumentation
FEI Company: o                               $37.10        0%      41%
MTS Systems: o                               $43.91        3%      14%
Nanometrics: o                                $6.19       -4%     -22%
RAE Systems: n                                $2.53       -8%     -21%
Strategic Diagnostics: o                      $4.88        1%      29%
Veeco Instruments: o                         $18.12       -1%      -3%
Zygo: o                                      $15.12       -6%      -8%

Lab Consumables/Equipment
Invitrogen: o                                $72.44       11%      28%
Kewaunee Scientific: o                       $11.19        2%      29%
Millipore: n                                 $74.77        1%      12%
New Brunswick Scientific: o                   $7.85       -7%      -3%
Pall: n                                      $44.75        7%      30%
QIAGEN: o                                    $17.43       -2%      15%
Sigma-Aldrich: o                             $43.28        3%      11%
Stratagene: o                                $10.86        1%      46%
TECHNE: o                                    $59.69        1%       8%

Diversified Instrumentation
Agilent Technologies: n                      $38.17       11%      10%
AMETEK: n                                    $37.74        4%      19%
Danaher: n                                   $73.50        3%       1%
Mettler-Toledo Int'l: n                      $98.30        1%      25%
Roper Industries: n                          $58.36        4%      16%
Teledyne Technologies: n                     $46.08        4%      15%
Laboratory Instrumentation Stock Index       576.11      1.3%     6.8%
Process/Metrology/Motion Instrumentation     496.87     -0.1%    16.2%
Lab Consumables/Equipment Stock Index        450.53      4.0%    18.1%
Diversified Instrumentation Stock Index      107.65      5.5%     7.7%
Dow Jones Industrial Average               13627.64      4.3%     9.3%
S&P 500                                     1530.62      3.3%     7.9%
NASDAQ Composite                            2604.52      3.1%     7.8%

                                                     EPS      EPS
Company: Exchange                          P/E    12 Month    FY

Laboratory Instrumentation
Affymetrix: o                              N/A      -0.29   -0.20
Applied Biosystems: n                       33       0.87    1.44
Beckman Coulter: n                          22       3.01    2.92
Bio-Red Laboratories: a                     20       3.66    3.83
Bruker BioSciences: o                       45       0.19    0.18
Caliper Life Sciences: o                   N/A      -0.82   -0.75
Cepheid: o                                 N/A      -0.46   -0.50
CombiMatrix: o                             N/A      -0.33   -0.49
Dionex: o                                   36       1.98    1.74
Harvard Bioscience: o                      N/A      -0.08   -0.08
Illumina: o                                N/A      -4.76    0.82
Luminex: o                                 414       0.03    0.05
MOCON: o                                    18       0.65    0.71
O.I. Corp: o                                26       0.47    0.81
PerkinElmer: n                              30       0.89    0.95
SEQUENOM: o                                N/A      -0.54   -0.71
STARLIMS: n                                 19       0.72    0.58
Symyx Technologies: o                       66       0.16    0.24
Thermo Fisher Scientific: n                 63       0.87    0.84
Transgenomic: o                            N/A      -0.08   -0.07
Varian Inc.: o                              30       1.95    1.59
Waters: n                                   27       2.25    2.13
X-Rite: n                                  N/A      -1.01   -1.03

Process/Metrology/Motion
  Instrumentation
FEI Company: o                              63       0.59    0.53
MTS Systems: o                              20       2.16    2.04
Nanometrics: o                             N/A      -1.63   -1.47
RAE Systems: n                             N/A      -0.05   -0.03
Strategic Diagnostics: o                   108       0.05    0.03
Veeco Instruments: o                        36       0.50    0.48
Zygo: o                                     18       0.86    0.79

Lab Consumables/Equipment
Invitrogen: o                              N/A      -3.44   -3.72
Kewaunee Scientific: o                      37       0.30    0.08
Millipore: n                                46       1.64    1.79
New Brunswick Scientific: o                 22       0.36    0.41
Pall: n                                     26       1.69    1.16
QIAGEN: o                                   37       0.47    0.46
Sigma-Aldrich: o                            20       2.12    2.05
Stratagene: o                              N/A       0.01    0.00
TECHNE: o                                   29       2.05    1.85

Diversified Instrumentation
Agilent Technologies: n                     18       2.07    7.50
AMETEK: n                                   21       1.81    1.71
Danaher: n                                  20       3.59    3.48
Mettler-Toledo Int'l: n                     24       4.07    3.86
Roper Industries: n                         26       2.27    2.13
Teledyne Technologies: n                    20       2.32    2.26
Laboratory Instrumentation Stock Index      69
Process/Metrology/Motion Instrumentation    29
Lab Consumables/Equipment Stock Index       85
Diversified Instrumentation Stock Index     19
Dow Jones Industrial Average
S&P 500
NASDAQ Composite

                                           LTD/     FY     R&D/
Company: Exchange                          Equity   ROE    Sales

Laboratory Instrumentation
Affymetrix: o                                25%    N/A     24%
Applied Biosystems: n                         9%    19%      9%
Beckman Coulter: n                          117%    16%     10%
Bio-Red Laboratories: a                      55%    13%     10%
Bruker BioSciences: o                        23%    10%     11%
Caliper Life Sciences: o                     11%    N/A     23%
Cepheid: o                                    2%    N/A     29%
CombiMatrix: o                               27%    N/A    165%
Dionex: o                                     3%    19%      8%
Harvard Bioscience: o                         7%    N/A      4%
Illumina: o                                 154%    16%     18%
Luminex: o                                    3%     3%     16%
MOCON: o                                      0%    18%      7%
O.I. Corp: o                                  2%    10%     10%
PerkinElmer: n                               35%     8%     24%
SEQUENOM: o                                  18%    N/A     42%
STARLIMS: n                                   1%    27%      9%
Symyx Technologies: o                         0%     4%     52%
Thermo Fisher Scientific: n                  36%     1%      4%
Transgenomic: o                               1%    N/A     10%
Varian Inc.: o                                8%     9%      7%
Waters: n                                   171%    61%      6%
X-Rite: n                                   104%    N/A     15%

Process/Metrology/Motion
  Instrumentation
FEI Company: o                               86%     6%     12%
MTS Systems: o                               14%    23%      5%
Nanometrics: o                                2%    N/A     15%
RAE Systems: n                               11%    N/A      9%
Strategic Diagnostics: o                      1%     2%     10%
Veeco Instruments: o                         54%     5%     14%
Zygo: o                                       2%     9%      9%

Lab Consumables/Equipment
Invitrogen: o                                82%    12%      9%
Kewaunee Scientific: o                       19%     1%      0%
Millipore: n                                141%    10%      7%
New Brunswick Scientific: o                   2%     8%      6%
Pall: n                                      58%    12%      3%
QIAGEN: o                                    90%    12%      9%
Sigma-Aldrich: o                             29%    20%      3%
Stratagene: o                                 9%     0%     13%
TECHNE: o                                    N/A    22%      9%

Diversified Instrumentation
Agilent Technologies: n                      61%    91%     13%
AMETEK: n                                    69%    19%      5%
Danaher: n                                   56%    17%      5%
Mettler-Toledo Int'l: n                      97%    25%      5%
Roper Industries: n                          63%    13%      3%
Teledyne Technologies: n                     91%    19%      4%
Laboratory Instrumentation Stock Index       40%     5%     11%
Process/Metrology/Motion Instrumentation     43%     7%      8%
Lab Consumables/Equipment Stock Index        66%    10%      3%
Diversified Instrumentation Stock Index      62%    37%      7%
Dow Jones Industrial Average
S&P 500
NASDAQ Composite

Region                  Market Value               Market Value
Company                  (US $000s)                (Local 000s)

Pacific Shares
Hitachi High-
  Technologies: t         $3,592,801             [yen] 437,459,432
Horiba: t                 $1,692,451             [yen] 206,072,842
JEOL: t                     $535,430              [yen] 65,193,965
Shimadzu: t               $2,963,340              [yen] 360,816220
Techcomp: si                 $41,452                    SGD 63,450

European Shares
Genetix: l                   $89,436      45,177 [pounds sterling]
Millbrook Scientific
  Instruments: l              $3,094       1,563 [pounds sterling]
Oxford Instruments: l       $275,051     138,937 [pounds sterling]
Renishaw: l               $1,072,101     541,550 [pounds sterling]
Robotic Technology
  Systems: l                 $19,631       9,916 [pounds sterling]
Spectris: l               $2,303,265   1,163,448 [pounds sterling]
Whatman: l                  $746,098     376,876 [pounds sterling]
Alpha MOS: c                 $13,386                  9,950 [euro]
Analytik Jena: g             $45,752                 34,009 [euro]
Biohit: h                    $48,212                 35,837 [euro]
Cybio AG: g                  $25,321                 18,822 [euro]
Sartorius: g                $940,727                699,271 [euro]
Tecan: s                    $823,032                 CHF 1,008,379
Biotage AB: st              $115,098                   SEK 796,377

                                       Price
Region                               5/31/2007
Company                               (Local)

Pacific Shares
Hitachi High-
  Technologies: t                    [yen] 3180
Horiba: t                            [yen] 4870
JEOL: t                               [yen] 822
Shimadzu: t                           [yen] 220
Techcomp: si                           SGD 0.47

European Shares
Genetix: l               0.63 [pounds sterling]
Millbrook Scientific
  Instruments: l         0.03 [pounds sterling]
Oxford Instruments: l    2.88 [pounds sterling]
Renishaw: l              7.44 [pounds sterling]
Robotic Technology
  Systems: l             0.16 [pounds sterling]
Spectris: l              9.36 [pounds sterling]
Whatman: l               2.84 [pounds sterling]
Alpha MOS: c                        3.80 [euro]
Analytik Jena: g                    7.30 [euro]
Biohit: h                           2.77 [euro]
Cybio AG: g                         4.55 [euro]
Sartorius: g                       41.02 [euro]
Tecan: s                               CHF 86.6
Biotage AB: st                         SEK 11.9

Region                    Change    Change
Company                   1 Month    YTD     P/E

Pacific Shares
Hitachi High-
  Technologies: t            4%     -11%      17
Horiba: t                   12%      10%      23
JEOL: t                      2%      15%      32
Shimadzu: t                 18%      16%      28
Techcomp: si                19%      71%       9

European Shares
Genetix: l                 -19%      15%      18
Millbrook Scientific
  Instruments: l            24%     -25%     N/A
Oxford Instruments: l        9%      14%     N/A
Renishaw: l                  1%      -1%      19
Robotic Technology
  Systems: l                -3%     -11%     N/A
Spectris: l                 -4%      19%      19
Whatman: l                  -2%       7%      15
Alpha MOS: c               -12%      -8%     N/A
Analytik Jena: g            -1%       5%      27
Biohit: h                    9%      36%     N/A
Cybio AG: g                 -5%      -3%      51
Sartorius: g                -3%       7%      24
Tecan: s                    -4%      14%      25
Biotage AB: st              -6%     -11%     N/A

Region                                EPS
Company                             12 Month

Pacific Shares
Hitachi High-
  Technologies: t                  [yen] 189.76
Horiba: t                           [yen] 207.3
JEOL: t                             [yen] 25.38
Shimadzu: t                         [yen] 43.16
Techcomp: si                              $0.03

European Shares
Genetix: l               0.04 [pounds sterling]
Millbrook Scientific
  Instruments: l        -0.02 [pounds sterling]
Oxford Instruments: l   -0.09 [pounds sterling]
Renishaw: l              0.40 [pounds sterling]
Robotic Technology
  Systems: l            -0.02 [pounds sterling]
Spectris: l              0.49 [pounds sterling]
Whatman: l               0.19 [pounds sterling]
Alpha MOS: c                       -0.14 [euro]
Analytik Jena: g                    0.27 [euro]
Biohit: h                          -0.06 [euro]
Cybio AG: g                         0.09 [euro]
Sartorius: g                        1.70 [euro]
Tecan: s                               CHF 3.52
Biotage AB: st                        -SEK 0.36

Region                                 EPS
Company                                 FY

Pacific Shares
Hitachi High-
  Technologies: t                  [yen] 139.24
Horiba: t                          [yen] 153.43
JEOL: t                            [yen] 115.06
Shimadzu: t                         [yen] 37.53
Techcomp: si                              $0.03

European Shares
Genetix: l               0.04 [pounds sterling]
Millbrook Scientific
  Instruments: l        -0.01 [pounds sterling]
Oxford Instruments: l   -0.07 [pounds sterling]
Renishaw: l              0.42 [pounds sterling]
Robotic Technology
  Systems: l            -0.02 [pounds sterling]
Spectris: l              0.49 [pounds sterling]
Whatman: l               0.19 [pounds sterling]
Alpha MOS: c                       -0.14 [euro]
Analytik Jena: g                    0.27 [euro]
Biohit: h                          -0.06 [euro]
Cybio AG: g                         0.23 [euro]
Sartorius: g                        1.70 [euro]
Tecan: s                               CHF 3.52
Biotage AB: st                        -SEK 0.36

Region                      LTD/     FY      R&D/
Company                    Equity    ROE     Sales

Pacific Shares
Hitachi High-
  Technologies: t            13%     10%       2%
Horiba: t                    16%     10%       6%
JEOL: t                      79%      4%       6%
Shimadzu: t                  42%      9%       3%
Techcomp: si                  5%     19%       1%

European Shares
Genetix: l                    7%      7%      10%
Millbrook Scientific
  Instruments: l              1%      0%      N/A
Oxford Instruments: l       128%     N/A       7%
Renishaw: l                  33%     21%      10%
Robotic Technology
  Systems: l                  9%     N/A      N/A
Spectris: l                  51%     21%       7%
Whatman: l                   46%     37%       2%
Alpha MOS: c                 11%     N/A      N/A
Analytik Jena: g             38%      4%       6%
Biohit: h                    55%     N/A       5%
Cybio AG: g                   6%      9%       7%
Sartorius: g                 52%     11%       7%
Tecan: s                     38%     22%      10%
Biotage AB: st               27%     N/A     139%

The IBO composite stock indices are weighted by market capitalisation.
Index averages for the various financial ratios presented are also
weighted statistically to reflect the relative sizes of the
constituent companies Lab Instrumentation Index: 12/31 /91=100;
Process/Metrology/Motion Instrumentation Index: 12/31/93=100; Lab
Consumables/Equipment Index: 1/1/01=100; Diversified Instrumentation
Index: 1/1/07=100. Exchanges: n=NYSE; a=AMEX; o=NASDAQ; t=Tokyo;
si=Singapore; l=London; g=Germany; s=Switzerland; st=Sweden;
c=Continuous Market; h=Finland.
COPYRIGHT 2007 Strategic Directions International Inc. (SDI)
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007 Gale, Cengage Learning. All rights reserved.

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