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Top Pre-Market Upgrades & Downgrades (AB, ABFS, CNY, DKX, BEN, KMT, ODFL, OTTR, PZN, RJF, JOE, TROW, YRCW)

247wallst — Mon, 22 Sep 2008 06:27:31 +0000

These are not all of the research calls affecting shares of stock, but these are some we have our eyes on this Monday:

Alliance Bernstein (AB) Raised to Outperform at KBW.
Arkansas Best (ABFS) Cut to Underweight at JPMorgan.
Con-Way (CNY) Cut to Neutral at JPMorgan.
Dick’s Sporting Goods (DKS) Started as Overweight at Lehman.
Franklin Resources (BEN) Cut to Market Perform at KBW.
Kennametal (KMT) Cut to Sell at Goldman Sachs.
Old Dominion Freight Line (ODFL) Cut to Neutral at JPMorgan.
Otter Tail (OTTR) Raised to Outperform at Baird.
Pzena (PZN) Cut to Underperform at KBW.
Raymond James Financial (RJF) Cut to Market Perform at KBW.
St. Joe (JOE) Cut to Market Perform at KBW.
T. Rowe Price (TROW) Cut to Underperform at KBW.
YRC Worldwide (YRCW) Cut to Underweight at JPMorgan.

Jon C. Ogg
September 22, 2008

Posted in Analyst Calls Tagged: AB, ABFS, BEN, CNY, DKX, JOE, KMT, ODFL, OTTR, PZN, RJF, TROW, YRCW

ETF/ETN Launch: Chinese & Indian Currencies (CNY, INR)

247wallst — Mon, 17 Mar 2008 15:57:23 +0000

The NYSE today launched the first two Morgan Stanley Exchange-Traded Notes (ETNs) with Van Eck Securities Corporation as the exclusive marketer. These ETN launches are under the market Vectors, which are based on local currency in China and in India on their performance against the U.S. Dollar.

Market Vectors-Chinese Renminbi/USD ETNs (NYSE: CNY) is based on the S&P Chinese Renminbi Total Return Index, which seeks to track the performance of China’s renminbi against the U.S. dollar.
Market Vectors-Indian Rupee/USD ETNs (NYSE: INR) is based on the S&P Indian Rupee Total Return Index, which seeks to track the performance of India’s rupee against the U.S. dollar.

These are not your typical ETN’s, nor are they your normal ETN’s. There have recently been other currency exchange traded notes launched on NYSE that have been geared to track the Euro, the Swiss Franc, the Canadian Dollar, the Australian Dollar, and the British Pound.

Jon C. Ogg
March 17, 2008