Posts for Ticker ‘NDAQ’

Top 10 Analyst Upgrades, Downgrades, Initiations (BRCD, BNI, COH, CHK, CSX, HOG, KWK, MBT, NDAQ, SIRI)

These are this Thursday’s top early analyst upgrades, downgrades, and initiations from Wall Street research calls which may be moving shares of the underlying stocks:

Brocade Communications (NASDAQ: BRCD) Cut to Neutral at Piper Jaffray; Cut to Hold at ThinkEquity; Cut to Hold at Lazard.
Burlington Northern Santa Fe (NYSE: BNI) Cut to Underweight at Barclays.
Coach Inc. (NYSE: COH) Started as Hold at KeyBanc.
Chesapeake Energy (NYSE: CHK) Started as Buy at Lazard.
CSX Corp. (NYSE: CSX) Raised to Equal-Weight at Barclays.
Harley-Davidson (NYSE: HOG) Started as Underweight at KeyBanc.
Quicksilver Resources Inc. (NYSE: KWK) Started as Buy at Lazard.
Mobile TeleSystems (NYSE: MBT) Raised to Buy at UBS.
NASDAQ OMX Group (NASDAQ: NDAQ) Raised to Positive at Susquehanna.
SIRIUS XM Radio Inc. (NASDAQ: SIRI) put on positive credit watch at S&P late yesterday during trading hours.

You can join our open email distribution list which goes out several times per week to be notified of key analyst calls, top early morning day trader alerts, along with news of IPO’s, key offerings, guru investor data on Buffett and others, key merger news, and more.

JON C. OGG

Posted on: November 12, 2009 – 7:52 am in Analyst Calls, , , , , , , , , ,

The Twenty Companies That Wall St. Can Trust The Least

Wall St. likes financial statements that give it deep insights into a company’s operations, especially its liabilities. It likes boards that make sure shareholders get as complete a picture as possible of a firm’s balance sheet and details of its P&L, cash-flow, and other critical financial measurements.

bear24/7 Wall St. asked Audit Integrity to put together a list of companies traded on US exchanges with market caps of more than $3 billion that do particularly poorly in the areas  of corporate governance, detailed disclosure of high-risk events including M&A and restructurings, revenue and expense recognition, and asset and liability valuation.

Based on the Audit Integrity model, 24/7 created a list of the twenty companies that Wall St. can trust the least.  Among the companies that the analysis flagged are Altria (NYSE:MO), Chevron (NYSE:CVX), Credit Suisse (NYSE:CS), GE (NYSE:GE), Blackstone (NYSE:BX), Wal-Mart (NYSE:WMT),  Wells Fargo (NYSE:WMT), and Dow Chemical (NYSE:DOW)

The list:

Read More »

Posted on: October 27, 2009 – 5:31 am in Corporate Governance, Research, Uncategorized, , , , , , , , , , , , , , , , , , ,

Top 10 Analyst Upgrades, Downgrades, Initiations (AAPL, GOOG, CME, FFIV, HOG, ICE, NDAQ, NTRI, SGMS, URBN)

These are the top ten stocks seeing analyst upgrades, downgrades, and initiations from Wall Street early this Friday morning:

Apple Inc. (NASDAQ: AAPL) was given a cautious call from Oppenheimer, noting that it could report in-line or even slightly disappointing revenues of $9 to $9.2 billion.   Google Inc. (NASDAQ: GOOG): Stifel Nicolaus raised target to $650; UBS raised target to $635; JPMorgan raised target to $608; Goldman Sachs raised target to $635; BofA raised target to $640; Citi raised target to $640.

CME Group (NYSE: CME) Raised to Outperform at KBW.
F5 Networks (NASDAQ: FFIV) Cut to Perform at Oppenheimer.
Harley-Davidson (NYSE: HOG) Raised to Outperform at RBC.
Intercontinental Exchange (NYSE: ICE) Raised to Outperform at KBW.
NASDAQ (NASDAQ: NDAQ) Cut to Market Perform at KBW.
NutriSystem (NASDAQ: NTRI) Raised to Buy at Janney Montgomery
Scientific Games (NASDAQ: SGMS) Cut to Neutral at JP Morgan.
Urban Outfitters (NASDAQ: URBN) Started as Buy at BofA/Merrill Lynch.

You can join our open email distribution list to get updates on top analyst upgrades and downgrades, top day trader alerts, IPO’s, secondary offerings, Warren Buffett and other guru activity, M&A and more.

JON C. OGG
OCTOBER 16, 2009

Posted on: October 16, 2009 – 8:12 am in Analyst Calls, , , , , , , , , ,

Cybersecurity: Obama’s Next Big-Ticket Agenda Item

uncle sam

It’s taken a back seat to health care, but one of the next big agenda items for President Obama’s administration is cybersecurity, a priority that is becoming all the more clear following July 4 hacker attacks on the White House, the Pentagon and the New York Stock Exchange.

The Associated Press reports that the attack on U.S. and South Korean government agencies last week was even broader than first realized. Other agencies targeted by the malicious code included the National Security Agency, Homeland Security Department, State Department, the Federal Trader Commission, the Treasury, the Nasdaq stock market (Nasdaq:NDAQ) and The Washington Post (NYSE:WPO). Read More »

Posted on: July 8, 2009 – 12:33 pm in Defense, Editor's Picks, Software, , , , , , , , , ,

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 Analyst Upgrades (FINL, FTI, FL, BEN, GS, KEY, NDAQ, NOK, NRG, VIP)

These are the top pre-market analyst upgrades and positive research calls we have seen from Wall Street firms early this Thursday morning with more than two hours until the market opens:

Finish Line (FINL) Started as Outperform at Oppenheimer.
FMC Technologies (FTI) Raised to Outperform at FBR.
Foot Locker (FL)  Started as Outperform at Oppenheimer.
Franklin Resources (BEN) Started as Buy at Deutsche Bank.
Goldman Sachs (GS) Raised to Outperform at Bernstein.
KeyCorp (KEY) Raised to TopPick at RBC.
NASDAQ (NDAQ) Started as Buy at Deutsche Bank.
Nokia (NOK) Started as Outperform at Baird.
NRG Energy (NRG) Raised to Buy at Jefferies.
Vimpel Communications (VIP) Raised to Overweight at Morgan Stanley.

JON C. OGG

Posted on: June 4, 2009 – 6:18 am in Analyst Calls, , , , , , , , , ,

Is Carbon Trading or Cap and Trade Dying On The Vine? (ICE, CME, NDAQ, BRK-A)

carbon-emission-imageOne of the Obama proposals to fight global warming and climate change may be up against the ropes.  This is emissions trading, or what the media calls “cap and trade.” There are many who consider this type of emissions trading to be the Holy Grail, and there are many who claim it does nothing other than create a business expense or hidden tax.  It could represent a huge new market for the IntercontinentalExchange, Inc. (NYSE: ICE) and the CME Group Inc. (NYSE: CME), as well as Climate Exchange plc (OTC-CXCHF) as the owner of the Chicago Climate Exchange.  Climate Exchange plc (LSE: CLE.L) is an AIM listed company which owns the world’s leading environmental exchanges.

We think that it is probably too early to call “cap & trade” a dead idea.  But what is looking more likely is that at best what will be headed to a Congressional vote is a greatly watered-down version of cap & trade.  If a watered-down version does not come first, then we have many reasons to believe that this may be an issue to debate in 2011 rather than 2009.

Read More »

Posted on: May 4, 2009 – 1:45 pm in Banking, Commodities, Exchange News, Financial Stocks, Green Biz, Infrastructure, Politics, Regulation, , , ,

Foreign Brands Gone Missing For Investors (NYX, NDAQ, ADDDF, BAESY, AHBIF, LVMHF, NSRGY, NTDOY, RHHBY, LUKOY)

There has been an interesting trend in the globalization movement.  The U.S. has seen some major brands and major companies get acquired by foreign public companies, but suddenly U.S. investors have a very hard time in investing in those companies again.   The NYSE Euronext, Inc. (NYSE: NYX) and the NASDAQ OMX Group Inc. (NASDAQ: NDAQ) have an opportunity to recruit many of these foreign companies to take on full US listings (again for some of them).  We also have many products and goods produced by foreign companies which we in the U.S. consume.  Despite most of these companies being public, most U.S. investors cannot easily invest in many of these icons.  Most brokers do not even know how to trade them.  The Peter Lynch method suggests investing in what you know, yet that notion is not possible in many of these companies for most Americans.  This form of globalization may feel like isolation for investors who want to own a piece of their favorite brands.

Throughout this decade, it became commonplace for large companies to stop having full listings in the U.S.  One reason was over the disclosure and regulatory rules, while some reasoned that the cost of listing was of little to no benefit to the company.  Some of these are at least traded OTC or on the Pink Sheets.  That is good or at least a start.  Unfortunately, most Americans  do not know how to invest in these markets.  For that matter, most brokers do not either.  Here are just some of the companies which trade OTC or on the Pink Sheets:
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Posted on: April 17, 2009 – 11:14 am in ADR, Consumer Goods, IPOs, International Markets, OTC, , , , , , , , , ,

Top Analyst Downgrades (AVP, CAH, ETR, ETFC, F, IP, ITRI, LAB, NDAQ, NYX, SNDK, WYN)

Burning_money_picThese are some of the top pre-market analyst downgrades and negative calls we have seen on Wall Street this morning:

  • Avon Products (AVP) Cut to Neutral at Goldman Sachs.
  • Cardinal Health (CAH) Cut to Neutral at Goldman Sachs.
  • Entergy (ETR) Cut to Hold at Jefferies.
  • E*TRADE (ETFC) Cut to Equal Weight at Barclays.
  • Ford (F) Cut to Underweight at Barclays.
  • International Paper (IP) Cut to Sell at Goldman Sachs.
  • Itron (ITRI) Cut to Neutral at UBS.
  • LaBranche (LAB) Cut to Neutral at Goldman Sachs.
  • NASDAQ: OMX (NDAQ) Cut to Neutral at Goldman Sachs.
  • NYSE (NYX) Cut to Sell at Goldman Sachs; Cut to Market Perform at KBW.
  • SanDisk (SNDK) Cut to Sell at Auriga.
  • Wyndam Worldwide (WYN) Cut to Neutral at Goldman Sachs.

Jon C. Ogg
February 2, 2009

Posted on: February 2, 2009 – 7:45 am in Analyst Calls, , , , , , , , , , , ,

NASDAQ Sees Drop In Short Selling (NDAQ)

Money_stack_pic_3The NASDAQ OMX Group (NASDAQ: NDAQ) is seeing a drop in short selling activity if the trends in December continue.  The exchange said that as of December 31, the total short interest in 2,559 NASDAQ Global Market securities totaled 6,757,422,121 shares.

Read More »

Posted on: January 12, 2009 – 4:13 pm in Short Interest,

NASDAQ Offers Life To Hundreds of Stocks (NDAQ, CHTR, FNSR, LVLT, OPWV, PEIX, PWAV, PWAV, RFMD, SANM, SIRI, SPSN)

Money_stack_pic_4Nasdaq_logoThe NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) is making it easier for the army of relatively new penny stocks to maintain their listings on NASDAQ.  The exchange filed with the SEC to extend its suspension of the rules requiring a minimum $1.00 bid price and its minimum market value of publicly held shares.  This was initially set to expire in January, but the terms will now be extended until Monday, April 20, 2009.  With as many stocks that have violated that $1.00 mark in recent weeks and months, this is hardly a surprise and it would even go against the exchange’s own interests to boot this many stocks off the exchange.

We ran a screen for NASDAQ stocks with active trading volume, share prices under $1.00, and those which have traded over $1.00 in the last 52-weeks.  Some of the most usual suspects here are as follows:

Read More »

Posted on: December 19, 2008 – 10:26 am in Cult Stock, Exchange News, Small Cap Stocks, Trading Alert, , , , , , , , , , ,

Madoff: The $50 Billion Ponzi Man (NDAQ)

Bernie Madoff, the former non-executive Chairman of the NASDAQ (NASDAQ: NDAQ), has been arrested on an investor fraud case that has massive implications over trust and legitimacy on Wall Street.  The good news is that this fraud does not appear to be a systematic risk event.  The bad news is that the losses may be well into the "billions" of dollars.  The second bit of bad news is that this is just another mark against an already tarnished image on Wall Street.

Read More »

Posted on: December 12, 2008 – 9:34 am in Exchange News, Financial Stocks, Law, Management Change, SEC,

NASDAQ Heads to Vietnam (NDAQ)

The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) has signed a memorandum of understanding with Vietnam’s Ho Chi Minh Stock Exchange (HOSE).  This is Vietnam’s largest stock exchange.  The exchanges intend to support development of the Vietnamese securities market using NASDAQ OMX’s technology and market experience to strengthen infrastructure, efficiency and liquidity at HOSE and the Vietnamese capital market as a whole.

Before thinking this will add significantly to NASDAQ any time soon, you might want to look at the English version of the active stock page trading volume there.

Jon C. Ogg
September 23, 2008

Posted on: September 23, 2008 – 2:09 pm in Emerging Markets, Exchange News, ,

Top Pre-Market Analyst Upgrades (ACE, NLY, ESLR, GFIG, HOKU, ITG, GS, KR, MON, NDAQ, TRV)

These are some of the positive calls and upgrades we have seen from analysts this morning:

  • ACE Ltd. (ACE) raised to buy at Goldman Sachs.
  • Annaly Capital (NLY) raised to overweight at JPMorgan.
  • Evergreen Solar (ESLR) raised to hold at Citigroup.
  • GFI Group (GFIG) raised to outperform at KBW.
  • Hoku Scientific (HOKU) raised to buy at Broadpoint.
  • Investment Technology Group (ITG) raised to outperform at KBW.
  • Goldman Sachs (GS) raised to outperform at Wachovia.
  • Kroger (KR) raised to buy at B of A.
  • Monsanto (MON) raised to buy at BB&T.
  • NASDAQ OMX (NDAQ) raised to outperform at KBW.
  • Travelers (TRV) raised to buy at Goldman Sachs.

Jon C. Ogg
September 17, 2008

Posted on: September 17, 2008 – 7:05 am in Analyst Calls, , , , , , , , , , ,

Top Pre-Market Analyst Upgrades (BPFH, CAAS, CTXS, HAYN, MMC, NDAQ, RL, RMD)

These are not all of the analyst upgrades or positive calls we are seeing, but these are the stand out calls early this Thursday morning:

  • Boston Private Financial (BPFH) Raised to Overweight at JPMorgan.
  • China Automotive Systems (CAAS) Started as Buy at Merriman Curhan Ford.
  • Citris (CTXS) Started as Outperform at Bernstein.
  • Haynes International (HAYN) Raised to Overweight at JPMorgan.
  • Marsh & McLennan (MMC) Raised to Market Perform at FBR.
  • NASDAQ OMX (NDAQ) Raised to Outperform at FBR.
  • Polo Ralph Lauren (RL) Raised to Outperform at Morgan Keegan.
  • Resmed (RMD) Raised to Hold at Citigroup.

Jon C. Ogg
August 7, 2008

Posted on: August 7, 2008 – 6:09 am in Analyst Calls, , , , , , , ,

Top 10 Pre-Market Analyst Calls (ALD, T, BA, NDAQ, NNI, PBT, RL, RGC, TIBX, WINN)

These are not all of the calls we are seeing in pre-market coverage, but these are ten of the calls impacting shares this Wednesday morning:

  • Allied Capital (NYSE: ALD) Started as Underweight at JPMorgan.
  • AT&T (NYSE: T) raised to Outperform at Bernstein.
  • Boeing (NYSE: BA) Cut to Sell from Neutral at Goldman Sachs.
  • NASDAQ OMX (NASDAQ: NDAQ) Raised to Buy from Neutral at Piper Jaffray.
  • Nelnet (NYSE: NNI) Raised to Outperform at FBR.
  • Permian Basin Royalty Trust (NYSE: PBT) Raised to Buy from Hold at Citigroup.
  • Polo Ralph Lauren (NYSE: RL) Raised to Market Perform from Underperform at Morgan Keegan.
  • Regal Entertainment (NYSE: RGC) Raised to Outperform at BMO Capital.
  • Tibco Software (NASDAQ: TIBX) Raised to Overweight at JPMorgan.
  • Winn-Dixie (NASDAQ: WINN) Raised to Outperform from Market Perform at FBR.

Jon C. Ogg
June 25, 2008

Posted on: June 25, 2008 – 6:11 am in Analyst Calls, , , , , , , , , ,

Exchange Wars: What Will NYSE Get From Qatar? (NYX, NDAQ, CME)

NYSE Euronext (NYSE Euronext: NYX) has signed a strategic partnership with the State of Qatar in a bid that may transform the Doha Securities Market.  The visibility is aimed to make Doha’s market an international player in the global exchange space and to give the NYSE Euronext with a foothold presence in the Middle East.  NYSE Euronext will purchase a 25% stake in the Doha Securities market for $250 million in cash (US Dollars), in what was said to be the most attractive offer as part of a competitive bidding process.

The State of Qatar and NYSE Euronext to build a new, internationally integrated cash and derivatives exchange in Doha. This will be aligned through equity participation, technology integration and market structure similarity.  The NYSE will get 3 of the 11 board seats on the exchange and the State of Qatar will retain 75% ownership and 8 of the 11 board seats.

This will enhance Doha’s existing cash equities business and provide a platform for derivatives trading and related clearing services.  The NYSE Euronext will act as a partner managing the operation of the new exchange and will appoint the senior management team and providing technology services.  After this is all said and done, Qatar expects to end up with a total market infrastructure capability and will solidify its position as a regional capital market.

The closing of the transaction is subject to regulatory approval and is expected to close during Q4-2008.

If you want to compare this implied $1 Billion market cap based upon the terms of the deal, that compares to a $15+ Billion market cap for NYSE Euronext and compares to a $5.98 Billion market cap for NASDAQ OMX Group Inc. (NASDAQ: NDAQ).  CME Group Inc. (NYSE: CME) has a market cap of $23.9 Billion as of last look.

Jon C. Ogg
June 24, 2008

Posted on: June 24, 2008 – 10:58 am in Exchange, Exchange News, , ,

Top 10 Pre-Market Analyst Calls (ADCT, ANN, ASH, ASMI, CLHB, COST, IDTI, JCG, MRVL, NDAQ)

These are ten of the analyst calls we are focusing on this Friday morning:

  • ADC Telecom (NASDAQ: ADCT) raised to Overweight at JPMorgan.
  • AnnTaylor (NYSE: ANN) raised to Outperform at FBR.
  • Ashland (NYSE: ASH) cut to Underweight at JPMorgan.
  • ASM International (NASDAQ: ASMI) started as Underpeform at Jefferies.
  • Clean Harbors (NASDAQ: CLHB) raised to Outperform at Robert W. Baird.
  • Costco (NASDAQ: COST) cut to Neutral at Piper Jaffray.
  • Integrated Device Tech (NASDAQ: IDTI) cut to Neutral at Cowen & Co.
  • J. Crew (NYSE: JCG) cut to Market Perform at Wachovia; cut to Sell at Citigroup.
  • Marvell Tech (NASDAQ: MRVL) raised to Overweight at JPMorgan and raised to Outperform at oppenheimer.
  • NASDAQ (NASDAQ: NDAQ) raised to Overweight at Lehman Brothers.

Jon C. Ogg
May 30, 2008

Posted on: May 30, 2008 – 7:01 am in Analyst Calls, , , , , , , , , ,

CO2 Trading Going Mainstream (NDAQ, NMX, CME)

In the 1990’s, carbon certificate trading was mostly unheard of.  This has also been largely untapped by American companies and by the American public.  Until Now.

The New York Mercantile Exchange, Inc., the subsidiary of NYMEX Holdings, Inc. (NYSE: NMX), also announced that it will introduce a U.S. Regional Greenhouse Gas Initiative carbon allowance futures contract in the third quarter of 2008 that will be traded on the CME Globex, under the CME Group, Inc. (NYSE: CME).  This is expected to be the first exchange-traded contract for compliance with a government cap-and-trade program in the U.S.

It also looks like the NASDAQ OMX Group Inc. (NASDAQ: NDAQ) intends to launch a new index family for carbon dioxide emissions certificates this summer in its efforts with Nord Pool, according to Dow Jones.  After looking at Nord Pool’s website this has only been available to private investors, so this could be a real game changer.

The Chicago Climate Exchange, part of Climate Exchange plc (CLE.L), has allowed people to trade carbon futures now for years. 

If you want to do some research on your own about what is coming down the pipe, here are just a few of the links we have followed from over the years:

Carbon emission certificates are not without controversy.  While it does address the issues, many refer to it as a "pay to pollute."  That is an argument that will go on for years and we have no interest in getting in the middle of that.

It almost looks in a way like the U.S. may have joined the Kyoto Protocol, even if it isn’t official.

Jon C. Ogg
May 8, 2008

Posted on: May 8, 2008 – 10:36 am in Alternative Energy, Exchange News, , ,

Goldman Sachs Makes Key Financial Calls (BEN, JNS, NYX, NDAQ, MET, FII, NITE, OZM)

Goldman Sachs has issued a call on its asset manager universe, and says it’s time to go on the offensive.  Its rating on the group is now attractive.  The bulge bracket brokerage leader has also made some key calls in the financial sector this morning.

In the call it has raised the following to Buy from Neutral:

  • Franklin Resources, Inc. (NYSE: BEN), Janus Capital Group, Inc. (NYSE: JNS), NYSE Euronext, Inc. (NYSE: NYX), MetLife Inc. (NYSE: MET)

There were actually some downgrades as well, with the following downgraded to Neutral from Buy:

  • Federated Investors, INC. (NYSE: FII), Knight Capital Group, Inc. (NASDAQ: NITE), Och-Ziff Capital Management (NYSE: OZM).

It has maintained a Neutral rating on NASDAQ OMX Group (NASDAQ: NDAQ), although it raised estimates by $0.10 for both 2008 and 2009. 

Jon C. Ogg
April 8, 2008

Posted on: April 8, 2008 – 8:00 am in Analyst Calls, Financial Stocks, , , , , , , ,