Kevin Cronin, chief investment officer for Putnam Investments, finds upside in four tech stocks in an economy he believes is currently suffering from inflation and deteriorating economic growth. “The tech sector and the utility sector have been two of the more defensive sectors over the course of the last year and we do find some attractive names there,” Cronin told Erin Burnett and Mark Haines on CNBC’s Squawk on the Street. The four stocks Cronin believes have promise are Microsoft [MSFT], Adobe [ADBE], Apple [AAPL], and EMC Corp. [EMC]. EMC Corp., based out of Hopkinton, Massachusetts, specializes in information infrastructure technology and solutions. "We debate whether Apple is a consumer company or a tech company, but we like Apple as well," Cronin said. Cronin recognized that the current deterioration of economic growth is not only an American issue, but a global issue as
Putnam Investments is one of the largest money management firms in the United States. Founded in 1937, the company is headquartered in Boston, MA. In February of 2007, it was announced that Great-West Lifeco Inc., a subsidiary of Toronto-based Power Financial Corporation, will acquire Putnam Investments for $3.9 billion dollars. Putnam’s headquarters, operations and personnel were unaffected by this transaction.