In this Issue:

•Going Ever More Global: More of the S&P 500's revenues are coming from overseas. But international diversification still pays.

•Intelligencer: Headlines, Highlights, and What's on Our Minds

•The Observatory

•Rising & Falling Stars

•Sin Stocks: Bad is better.

•Sempra Sheds Trading Risks, Keeps Profit Growth Potential: Energy company taps bank's stronger credit rating.

•Sector Changes: Standard & Poor's Equity Strategy upgraded the energy while downgrading consumer staples to marketweight.

•Second-quarter comparisons will be tough, but we expect solid profit growth ahead.

•High-Quality Capital Appreciation Growth Portfolio: A spinoff and a sale have strengthened Automatic Data's focus.

• Playing the Graying of America Through HealthShares ETFs: By 2015, the government projects health care spending will reach
$4 trillion, or 20% of GDP.

Some of the Companies featured:
Alpha Natural Resources
American Express
Automatic Data Processing
Disney
EMC
Franklin Resources
Home Depot
Noble
PetroChina
Sigma-Aldrich
Stryker
W.W. Grainger

S&P Information Products

Browse S&P industry research products by category:

S&P Industry Surveys
S&P Industry Stock Reports
The Outlook
Search Engine Survey
Pocket Guides
Power Picks

About Standard & Poor's

Standard & Poor's is one of the world's preeminent providers of credit ratings, and for such globally recognized financial-market indices as the S&P 500®. S&P also provides a wide range of other products and services designed to help individuals and institutions around the world make better-informed financial decisions with greater confidence.