Posts for Ticker ‘ARBA’

More Reverse Splits, or Just Closure, Possible or Needed in ETFs (FAS, FAZ, UYG, BAC, BHH, ARBA, IIH, AKAM, VRSN, UNG, USO, GLD, SDS, SPY, NYX, NDAQ)

Money Stack ImageWe have been large fans of exchange-traded funds, exchange-traded notes, and other exchange-traded instruments which are open for trade throughout the day that are allowed to be invested in just like a stock.  But with all new and growing markets, there are risks that need to be kept in check.  There are some leveraged ETF’s and their inverse counterparts which might need to see reverse share splits in the near future.  The notion of so many low-priced shares being so active may wreak havoc as the funds managing each ETF try to keep up with appropriate derivatives and in buying and selling shares of the components that are supposed to be the underlying securities.  There are even a few ETF’s which should probably just be closed down entirely and liquidated to holders.  Direxion Daily Financial Bull 3X Shares (NYSE: FAS) and The Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) are both prime examples of ETFs which skew total daily exchange trading volume numbers because of low share prices today and massive trading volume.  This is not meant to pick on the fund groups because they created trading vehicles which they did not expect to see some of these moves.  There are many more ETFs and ETNs to consider here.

Direxion just announced a reverse split for another ETF yesterday, but not its two financial triple-leverage ETFs.  Direxion Daily Financial Bull 3X Shares (NYSE: FAS) is now back down close to $8.00 per share, yet it trades 250 million shares on an average day.  The Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) is barely above $5.00 and trades more than 200 million shares on an average day.  So between the FAS and FAZ, you have an average of more than 450 million shares, and at today’s prices that is close to $3 billion worth of nominal value.

This review discusses a portion of the ETFs and ETNs and the ones under discussion today, along with underlying key companies, are Ultra Financials ProShares (NYSE: UYG), Bank of America Corporation (NYSE: BAC), B2B Internet HOLDRs (AMEX: BHH), Ariba, Inc. (NASDAQ: ARBA), Internet Capital Group (NASDAQ: ICGE), Internet Infrastructure HOLDRs (AMEX: IIH), VeriSign Inc. (NASDAQ: VRSN), Akamai Technologies Inc. (NASDAQ: AKAM), United States Natural Gas (NYSE: UNG), United States Oil (NYSE: USO), SPDR Gold Shares (NYSE: GLD), UltraShort S&P500 ProShares (NYSE: SDS), SPDRs (NYSE: SPY), New York Stock Exchange (NYSE: NYX) and the NASDAQ OMX Group Inc. (NASDAQ: NDAQ).
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Posted on: June 23, 2009 – 12:42 pm in Banking, Commodities, ETF, Index, Oil & Gas, Trading Alert, , , , , , , , , , , , , , , ,

Top 10 Analyst Upgrades & Downgrades (AAPL, ARBA, AVID, BAC, FSLR, JCG, ERIC, MWW, Q, YGE)

These are the top ten analyst research calls from Wall Street’s upgrades and downgrades we have seen early this Tuesday morning:

Apple (AAPL) Raised to Overweight at Morgan Stanley.
Ariba (ARBA) Cut to Perform at Oppenheimer.
Avid Tech (AVID) Raised to Overweight at JPMorgan.
Bank of America (BAC) Raised to Market Perform at FBR.
First Solar (FSLR) Cut to Underperform at FBR.
J. Crew (JCG) Cut to Underperform at Needham.
LM Ericsson (ERIC) Raised to Outperform at Bernstein.
Monster Worldwide (MWW) Cut to Underperform at Wachovia.
Qwest (Q) Raised to Overweight at JPMorgan.
Yingli Green Energy (YGE) Raised to Buy at Lazard.

JON C. OGG
May 26, 2009

Posted on: May 26, 2009 – 6:58 am in Analyst Calls, , , , , , , , , ,

Monday’s Key Technology Analyst Upgrades (ARBA, JNPR, NFLX, RVBD, SNDK, NT)

Some of the analyst upgrades in technology are just a reversal of an extreme negative bias to a cautious or neutral tone, but as you will see below there are a few standout calls.  There is also one call which an analyst should be ashamed of….  here are the tech research calls:

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Posted on: October 27, 2008 – 8:49 am in Analyst Calls, Technology Companies, , , , , ,

Top 10 Pre-Market Analyst Calls (AKAM, AEO, ARBA, BBI, CPWR, DVAX, FNSR, NCC, TOO, TXN)

These aren’t the only analyst calls this Monday morning, but these are the ones we are focusing on early this morning:

  • Akamai Tech (NASDAQ: AKAM) Cut to Hold from Buy at Citigroup.
  • American Eagle (NYSE: AEO) cut to Underperform at Friedman Billings.
  • Ariba (NASDAQ: ARBA) raised to Outperform at RBC Capital.
  • Blockbuster (NYSE: BBI) Added To Citigroup’s Top Picks list.
  • Compuware (NASDAQ: CPWR) Raised to Buy from Hold at Banc Of America.
  • Dynavax Technologies (NASDAQ: DVAX) cut to Peer Perform at Bear Stearns.
  • Finisar (NASDAQ: FNSR) Raised to Overweight at Thomas Weisel.
  • National City (NYSE: NCC) Raised to Buy from Hold at Citigroup.
  • Teekay Offshore (NYSE: TOO) raised to Outperform at Wachovia.
  • Texas Instruments (NYSE: TXN) Raised to Buy from Hold at Citigroup.

Jon C. Ogg
May 19, 2008

Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.

Posted on: May 19, 2008 – 6:31 am in Analyst Calls, , , , , , , , , ,