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| Nanosphere Inc |
Genetic testing products maker Nanosphere Inc. said Monday that it will publicly offer shares of common stock under a prospectus it filed in September 2009. Stock plunged more than 20 % to $2.31 in after hours trade.
Piper Jaffray & Co. is acting as the sole book-running manager.
The company plans to use the net proceeds for general corporate purposes and for working capital.
To read more choose from links below
( Source : Associated Press )
The Silver Users Association (SUA), a group devoted to the conflicting goals of keeping silver prices low and keeping silver available for users, stunned the silver investing community last month by repeating the claims made by silver investors and analysts, that the silver market is very tight and that any significant investor demand will create a shortage of silver.
The SUA made the bullish case for silver when asking the Securities and Exchange Commission (SEC) to deny Barclays' petition for a Silver Exchange Traded Fund (ETF). The Silver ETF will require Barclays Global Investors to buy up to 130 million ounces of silver prior to the approval of a silver ETF, in anticipation of investor demand for the silver ETF. But the COMEX division of NYMEX only has 117 million oz. of silver in all warehouse stock categories combined. Furthermore, COMEX market participants, through approximately 140,000 silver futures contracts at 5000 ounces each, already have claims of up to 700 million ounces of silver -- silver that may not exist.
The SUA's position: "The Silver Users Association opposes the creation of a silver ETF because of the concerns that doing so will require the holding of physical silver be held in allocated accounts, thus removing large amounts of silver from the market. By doing so, the ETF will cause a shortage of silver in the marketplace."
The SUA is asking the SEC to limit investors' ability to buy silver through an ETF. A silver ETF, which would warehouse silver for investors, and be easier for investors to buy and sell, makes more sense for silver than gold, because of silver's weight. But there are already limits on silver purchases. At the COMEX, there is a position limit of 1500 contracts per person or entity per month (which is a limit of 7.5 million oz. of silver), and total silver deliveries to all market participants may be limited to 1.5 million ounces in any given delivery month.
Back in May, 2004, the U.S. Commodity Futures Trading Commission (CFTC), which is supposed to oversee and prevent market manipulation and defaults, issued a 9-page report on silver that acknowledged many of the bullish fundamentals for silver, yet went on to say that a short side price manipulation could not exist because there is "unrestricted access to the market, [because] many knowledgeable and well-capitalized traders would readily buy any silver offered at artificially low prices." Michael Gorham, director of the CFTC, in the same report, then contradicted his earlier statement by defending the position limits that prevent unrestricted access to the silver market. Michael Gorham then resigned from the CFTC about 3 weeks later.
In free markets with free prices, supplies are rationed not by limits, but rather, by higher prices. The SUA, who is advocating a type of limit for investors, would rather not see higher prices. Today, it appears as if the SUA is more concerned with keeping silver available to its members than keeping silver prices low, since they can no longer continue to do both. The SUA is endorsing the bullish story for silver, in an attempt to keep silver available to users, and away from highly capitalized investors who may want to buy silver through a silver ETF.
What are the bullish fundamentals for silver?
According to the Silver Institute and CPM Group, each year about 600 million ounces of silver are mined, while about 870 million ounces of silver are consumed by industry, jewelry, and photography. The difference is largely met by recycling and investor selling. In 2004 however, investor selling ended as about 40 million ounces of silver was purchased by investors throughout the year, which drove silver prices up from a low of $4.15 to a high of $8.40/oz.
According to the Silver Institute and CPM Group, each year about 600 million ounces of silver are mined, while about 870 million ounces of silver are consumed by industry, jewelry, and photography. The difference is largely met by recycling and investor selling. In 2004 however, investor selling ended as about 40 million ounces of silver was purchased by investors throughout the year, which drove silver prices up from a low of $4.15 to a high of $8.40/oz.
Historically, the silver to gold ratio was that 15 ounces of silver would be worth 1 oz. of gold. Today, with silver at $7.76/oz. and gold at $472, it takes just over 60 oz. of silver to buy one ounce of gold.
Have we hit "peak silver," like "peak oil"? Peak oil proponents maintain that there is about a 40-year supply of oil in reserves, worldwide. However, according to Ted Butler, there are only about 16 years of silver in in-ground reserves, worldwide. The silver to oil ratio hit a high of over 1 in 1980, as a $50 ounce of silver could buy more than a barrel of oil at $43/barrel. Today, with oil prices hitting $70/barrel, silver prices are at historic lows as compared to oil, as an ounce of silver recently was 1/10th the price of a barrel of oil.
But what about the existing above ground supply of silver? Precious metals are held privately, and are not able to be tracked or traced, so nobody truly knows what the above ground supply of silver of might be. However, experts maintain that about 40 billion ounces of silver has been mined throughout all of human history, and that about 90% of that has been irretrievably consumed by industry, jewelry, and photography. Most of the approximately 3-5 billion ounces of silver left is in the form of jewelry, mostly held in India. Silver that is in the form of above-ground, refined, deliverable, identifiable silver is about 150 million ounces, mostly held at COMEX. The U.S. government once held up to 6 billion ounces of silver, but around 2002, the U.S. ran out, and had to buy silver on the open market for its Silver Eagle coin program. The COMEX once had up to 1.5 billion ounces of silver about 10-15 years ago, but today has less than 1/10th of that: 117 million ounces.
Warren Buffet bought 129.7 million ounces of silver in 1997, and "concluded that equilibrium between supply and demand was only likely to be established by a somewhat higher price." Since then, numerous investment analysts and newsletter writers have grown increasingly bullish on silver prices, including: Ted Butler, David Morgan, Jim Puplava, Harry Schultz, Doug Casey, Richard Russell, Jason Hommel, and many others. With the addition of the CFTC and the SUA making the bullish case for silver, what knowledgeable silver analyst or commentator remains left to maintain a bearish outlook for silver prices?
So, if there is an impending shortage of silver, how have prices remained low? Well, there is no shortage of silver for industrial users (commercials) who have unrestricted access to silver; there is only a shortage of silver for very large investors (speculators), who are restricted by position limits. Silver prices are also low due to lack of monetary demand, and a general lack of interest or knowledge by most investors. Demonetization of silver started in the 1870's with Germany abandoning silver coinage to move to a gold standard. The last time 90% silver coins were minted in the U.S. for everyday monetary transactions was 1964.
So, how high will silver prices go? Conceivably, if investor and monetary demand continues to increase, silver may not be able to be priced in dollars if the dollar collapses completely. But how would silver be valued if not in terms of dollars? Well, about 100 years ago, when silver was used as money nearly worldwide, a day's wage varied between a silver dime to a silver dollar. A return of monetary demand worldwide, in conjunction with a silver shortage, could conceivably drive silver prices higher than historic norms.
Will higher silver prices hurt the economy? The SUA also says: "This removal of large quantities of physical silver [through a silver ETF] could have a negative impact on silver-industry specific employment as well as the overall economy, both through job losses and inflation." However, higher silver prices will also create jobs in the silver mining industry, which has been devastated by low silver prices. In fact, currently, there are no profitable public silver mining companies in the U.S. Most silver miners remain unprofitable in 2005, because oil and energy prices (which are a large part of mining costs) have risen much faster than silver prices.
Whether a silver ETF or whether the growing sense of a silver shortage will drive investor demand for silver remains to be seen.
Conclusion? If there really remains less than 150 million ounces of silver in above ground refined form, then there is about half of an ounce of silver per person in the U.S., which means that if you have a single ounce of silver, the SUA might say that you have "more than your fair share.
Enjoying WTI at sub $100? Since we have at most two months of WTI trading sub $115 (and Brent at $130, assuming the WTI-Brent spread does not finally collapse) according to JP Morgan, enjoy it while you can. From Lawrence Eagles: "Although oil prices fell sharply last week, on Friday we raised our Brent crude price forecast to $130/bbl for 3Q2011 due to a tight supply/demand outlook. While product cracks and crude differentials also saw some readjustment, we do not expect a major realignment in differentials going forward as the underlying pressures remain intact." In other words, as we said last week, nothing has changed (except for some margins). And since all commodities correlate as one, and since Jim O'Neill was out earlier today bashing commodities (the surest contrarian sign ever), time to load up the boat courtesy of the CME's persistent banging the speculator is likely here.
More from JPM:
Refiners are typically conservative when it comes to selecting crudes. It is not worth risking an outage just to save a few cents a barrel. But given recent sweet/sour differentials there is a major incentive to run sour crude, so many refiners are pushing limits. It is often said that sour crude use is "maxed out" due to sulfur limitations. However, recent visits to key refining clients in Asia indicate that this is not entirely true. Refiners are running as much sour as they readily can, but several said logistical constraints or preference for domestic crude is preventing them from fully maximizing sour crude use. Some pointed to ways they could possibly run more sour crude if the price is right.
It needs to be "right". Demand is growing seasonally as refiners return from maintenance but sweet crude supply is constrained. Refiners must be incentivized to run additional sour crude from Iraq and others as they ramp-up runs. In 2008, diesel/fuel oil differentials spiked to push refiners to raise runs, but then we had a much tighter refinery sector. In 2011, the critical constraint is crude volume: more crude needs to be run. The incentive must continue to come wide Brent/Urals and Brent/Dubai, especially if OPEC adds the crude the market needs.
News Flow:
In the US, Mississippi river floodwaters are expected to crest on Tuesday in the city of Memphis. But further south, waters will continue to rise and refineries will be impacted. Tanker traffic is already beingaffected due to flooding of terminals.
A portion of Venezuela's Amuay refinery experienced a significant power outage on Friday, knocking out the majority of the refinery's operating units, including a large FCC unit (108 kbd). The Isla refinery in Curacao was also a victim of a blackout, causing full plant shutdown, according to reports.
At the request of the Japanese Prime Minister, Chubu Electric Power Company is reportedly shutting its 3.5 GW Hamaoka nuclear plant. The plant lies adjacent to a fault line and is said to be at risk of damage if a major earthquake hits the area.
Numerous small news points from China drew our interest in advance of oil trade data expected tomorrow: (1) State refiners continue to ration wholesale diesel, but buying interest slowed with the fall in crude prices. Gasoline buying also reportedly slowed. (2) Sinopec is said to "outsource" about 400 kbd of gasoil and 90 kbd from independent refiners in May. Sinopec is reportedly giving a subsidy of about $6/bbl versus $2/bbl a month ago. (3) Chinese independent refiners have reportedly been running more condensate, although the volumes remain small for now at around 12-15 kbd.
Analysis
Even if refineries themselves are not flooded, deliveries of crude and loading of products will be impacted. Runs may be reduced just as US refiners are struggling to return from a period of elevated outages amidst seasonally rising demand. Recent robust US Gulf Coast exports to Latin America may be scaled back as consumers up cracks to keep products for domestic use.
Infrastructure problems continue to be a constraint for Latin America's oil industry; in addition to unplanned outages for refineries, our crude production forecasts have been lowered in this month's assessment of 2011 supply from Venezuela. Electricity shortages have been identified as a source of additional demand as consumers utilize oil to meet power needs, and with difficulties operating refining capacity, imports into Latin America from the US should continue.
A number of nuclear reactors around Japan are seeing delayed returns, but as far as we know this is the first proposed long-term shutdown of an operating plant. Public pressure of this type will continue, so it is important to note potential impacts on oil. Chubu electric has about 5 GW of oil-fired capacity, but according to company reports it is used primarily as back-up. Should it close Hanaoka, Chubu will first turn to cheaper LNG before oil. Unlike TEPCO, it can also draw on neighbors as it is on the undamaged 60 hertz western grid. Neighboring utilities including Kansai electric will also push up LNG use before oil Oil use oil. will undoubtedly surge further with peak summer demand, but the impact should be more muted than in eastern Japan.
China is unusual in that a decline in price can lead to a short-term decline in implied demand growth. This is likely due to hoarding at the retail and consumer level in anticipation of administered price increases. The opposite can happen when crude price falls. Essentially, why build stocks when price is likely to be adjusted downwards, or as in this case not adjusted upwards? Retailers/consumers simply put off purchases and drawdown stocks. Just as March and April implied demand was likely boosted by hoarding, if prices remain lower May could see destocking. At the same time, runs at independent refiners could improve due to better refining economics. Taken together, Chinese net product exports could bounce if the international crude price remains relatively low. Condensate will need to find new uses as Middle East supply ramps up faster than splitting capacity. Relatively simple teapot refineries, often running at low utilization, are a natural home for surplus condensate.
And with this down, look for Goldman to formally revise its sell rating on Crude any minute now.
It needs to be "right". Demand is growing seasonally as refiners return from maintenance but sweet crude supply is constrained. Refiners must be incentivized to run additional sour crude from Iraq and others as they ramp-up runs. In 2008, diesel/fuel oil differentials spiked to push refiners to raise runs, but then we had a much tighter refinery sector. In 2011, the critical constraint is crude volume: more crude needs to be run. The incentive must continue to come wide Brent/Urals and Brent/Dubai, especially if OPEC adds the crude the market needs.
News Flow:
In the US, Mississippi river floodwaters are expected to crest on Tuesday in the city of Memphis. But further south, waters will continue to rise and refineries will be impacted. Tanker traffic is already beingaffected due to flooding of terminals.
A portion of Venezuela's Amuay refinery experienced a significant power outage on Friday, knocking out the majority of the refinery's operating units, including a large FCC unit (108 kbd). The Isla refinery in Curacao was also a victim of a blackout, causing full plant shutdown, according to reports.
At the request of the Japanese Prime Minister, Chubu Electric Power Company is reportedly shutting its 3.5 GW Hamaoka nuclear plant. The plant lies adjacent to a fault line and is said to be at risk of damage if a major earthquake hits the area.
Numerous small news points from China drew our interest in advance of oil trade data expected tomorrow: (1) State refiners continue to ration wholesale diesel, but buying interest slowed with the fall in crude prices. Gasoline buying also reportedly slowed. (2) Sinopec is said to "outsource" about 400 kbd of gasoil and 90 kbd from independent refiners in May. Sinopec is reportedly giving a subsidy of about $6/bbl versus $2/bbl a month ago. (3) Chinese independent refiners have reportedly been running more condensate, although the volumes remain small for now at around 12-15 kbd.
Analysis
Even if refineries themselves are not flooded, deliveries of crude and loading of products will be impacted. Runs may be reduced just as US refiners are struggling to return from a period of elevated outages amidst seasonally rising demand. Recent robust US Gulf Coast exports to Latin America may be scaled back as consumers up cracks to keep products for domestic use.
Infrastructure problems continue to be a constraint for Latin America's oil industry; in addition to unplanned outages for refineries, our crude production forecasts have been lowered in this month's assessment of 2011 supply from Venezuela. Electricity shortages have been identified as a source of additional demand as consumers utilize oil to meet power needs, and with difficulties operating refining capacity, imports into Latin America from the US should continue.
A number of nuclear reactors around Japan are seeing delayed returns, but as far as we know this is the first proposed long-term shutdown of an operating plant. Public pressure of this type will continue, so it is important to note potential impacts on oil. Chubu electric has about 5 GW of oil-fired capacity, but according to company reports it is used primarily as back-up. Should it close Hanaoka, Chubu will first turn to cheaper LNG before oil. Unlike TEPCO, it can also draw on neighbors as it is on the undamaged 60 hertz western grid. Neighboring utilities including Kansai electric will also push up LNG use before oil Oil use oil. will undoubtedly surge further with peak summer demand, but the impact should be more muted than in eastern Japan.
China is unusual in that a decline in price can lead to a short-term decline in implied demand growth. This is likely due to hoarding at the retail and consumer level in anticipation of administered price increases. The opposite can happen when crude price falls. Essentially, why build stocks when price is likely to be adjusted downwards, or as in this case not adjusted upwards? Retailers/consumers simply put off purchases and drawdown stocks. Just as March and April implied demand was likely boosted by hoarding, if prices remain lower May could see destocking. At the same time, runs at independent refiners could improve due to better refining economics. Taken together, Chinese net product exports could bounce if the international crude price remains relatively low. Condensate will need to find new uses as Middle East supply ramps up faster than splitting capacity. Relatively simple teapot refineries, often running at low utilization, are a natural home for surplus condensate.
And with this down, look for Goldman to formally revise its sell rating on Crude any minute now.
And so the battle of propaganda begins: on one hand we have the US government demanding the population take a leap of faith that Osama was killed then promptly converted into lead-containing fish food, now Iran has stepped up to the plate claiming it has 'evidence' that bin Laden was in fact dead long ago. From RIA: "Iranian Intelligence Minister Heidar Moslehi said Tehran has evidence that al-Qaeda leader Osama bin Laden had died of disease long before the United States' alleged raid on the terrorist, FARS Iranian news agency said. "We have accurate information that bin Laden died of illness some time ago," Moslehi said." And since Osama's body was promptly dumped at sea, and Obama decided to not release any pictures of the corpse, the conspiracy brigade will surely have a field day with this one. We can only hope Iran's evidence takes a shorter time to produce than WikiLeaks' Bank of America "killer" expose.
More from RIA:
Bin Laden's body was buried at sea less than 24 hours after the operation.
"If the US military and intelligence apparatus have really arrested or killed bin Laden, why don't they show him (his dead body) why have they thrown his corpse into the sea?" Moslehi continued.
A DNA test proved that the corpse of the dead man belonged to bin Laden, who has topped the FBI's most wanted list for the past decade.
White House spokesman, Jay Carney said on Wednesday that Washington would not release bin Laden's postmortem photos to avoid instigating propaganda and possible violence.
Disclosure: Yesterday Exact NIFTY fall to our BUY levels 5498 to 5511(Low 5501) and Nifty missed target 5594 with high of 5584 (Missed points 10)
Profit Points: 70 to 84
Now, just watch 5532-5537(Support)
(Breaking this level will be intraday weakness and Nifty can fall more 5500 and 5478 easily)
Today expected high volatile trading…!
For the more market trend…read positional message…!
(Today is important to know accurate move)
In case of closing Nifty 5532 below…NIFTY hold your Short Position for targets of 5468-5440
Bull is only 5630 above….!!! Find out all messages and recommendations here
Dear members,
I came across this interesting article on Piramal Healthcare written by Sanjay Bakshi for Outlook Profit.... worth a read...
I also came across a recent report on Piramal Healthcare, which seems to be echoing views on similar lines as those expressed by Sanjay...
Earlier today, PPFAS has released a report on Piramal subsequent to its results... which is also attached...
What's common among Sanjay Bakshi, Ajit Dayal and Parag Parikh one may ask... all of them are ardent followers of Warren Buffet's value principles... not surprisingly enough, their views are an epitome of his investment philosophy... as the saying goes.. birds of a feather flock together...
3 of 3 File(s)
I also came across a recent report on Piramal Healthcare, which seems to be echoing views on similar lines as those expressed by Sanjay...
Earlier today, PPFAS has released a report on Piramal subsequent to its results... which is also attached...
What's common among Sanjay Bakshi, Ajit Dayal and Parag Parikh one may ask... all of them are ardent followers of Warren Buffet's value principles... not surprisingly enough, their views are an epitome of his investment philosophy... as the saying goes.. birds of a feather flock together...
3 of 3 File(s)
MELA Sciences Inc,( NASDAQ: MELA), company is in news again as it is waiting for Pre Marketing Approval of MelaFind. Company has Submitted A Citizen Petition To FDA Commissioner Calling For Enforcement Of Binding Protocol Agreement And FDA Laws And Regulations In PMA Review Of MelaFind:
MELA Sciences, Inc. announced that it has submitted a Citizen Petition with the U.S. Food and Drug Administration (FDA or the Agency), requesting that Margaret Hamburg, MD, Commissioner of the FDA, enforce its binding protocol agreement as well as FDA laws and regulations in the review of the MelaFind® pre-market approval (PMA) application. MELA Sciences is asking the Commissioner to investigate why her Agency has acted outside its own laws, regulations and guidelines, as described at length in the Citizen Petition," said Joseph Gulfo, MD, President and CEO, MELA Sciences.
Stock of the company has shown a little upside but it wil not be considered a breakout until it will move up and trade continuously above $ 4. As we have seen in the past, stock is in the consolidating range and not able to cross $4. We encourage investors to eye on development of Melfind, that will take the stock out of trading range and might see new 52 week high as well. Read our reports and recommendation on penny stocks below links
( Source: Reuters)
Kauffman Economic Outlook: A Quarterly Survey of Leading Economics Bloggers, First Quarter 2011
After a year of increasing pessimism about the U.S. economy, the country's top economics bloggers see a bit of hope on the horizon in 2011, according to a new Ewing Marion Kauffman Foundation survey released today. Although 77 percent continue to describe the economy's overall condition as "mixed," "facing recession" or "in recession," 23 percent now believe the economy is "strong and growing" or "strong with uncertain growth" – an increase from last quarter.
With job growth an ongoing concern, bloggers this quarter were asked why high unemployment persists. An overwhelming 95 percent agreed that uncertainty is making firms reluctant to hire. They also cited structural changes in the demand for labor and a decline in aggregate demand. Asked whether they thought the recent extension of the 2001-3 tax cuts and the Social Security tax cuts would jump-start an economic recovery and job creation, a majority (66 percent) believe that those measures would be "effective" eventually, but not during 2011.
Survey respondents also took on the issue of the 2010 health reform bill. While opinions differed about whether it should remain or be repealed, seven out of 10 economics bloggers agreed that health benefits should be treated as taxable income.
Other research highlights include:
92 percent recommend that the government "reduce regulatory burdens and fees on new firm formation" rather than implementing policies that would subsidize new firm formation. This level of consensus is noteworthy given the largely nonpartisan identification of the respondents.
Only 10 percent of bloggers believe the economy is doing better than official statistics indicate.
Projecting three years ahead, economics bloggers expect global output, inflation, and interest rates to rise faster than anything else. The happy news is that two-thirds of respondents anticipate employment growth in the United States.
92 percent favored trade agreements with South Korea, Colombia and Panama. A majority – 72 percent – also supported the adoption of recommendations from the president's deficit commission.
For this Kauffman Economic Outlook: A Quarterly Survey of Leading Economics Bloggers, the Kauffman Foundation sent invitations to more than 200 leading economics bloggers as identified in the Palgrave's December 2010 rankings. The Foundation surveys the bloggers each quarter about their views of the economy, entrepreneurship and innovation.
1 of 1 File(s)
After a year of increasing pessimism about the U.S. economy, the country's top economics bloggers see a bit of hope on the horizon in 2011, according to a new Ewing Marion Kauffman Foundation survey released today. Although 77 percent continue to describe the economy's overall condition as "mixed," "facing recession" or "in recession," 23 percent now believe the economy is "strong and growing" or "strong with uncertain growth" – an increase from last quarter.
With job growth an ongoing concern, bloggers this quarter were asked why high unemployment persists. An overwhelming 95 percent agreed that uncertainty is making firms reluctant to hire. They also cited structural changes in the demand for labor and a decline in aggregate demand. Asked whether they thought the recent extension of the 2001-3 tax cuts and the Social Security tax cuts would jump-start an economic recovery and job creation, a majority (66 percent) believe that those measures would be "effective" eventually, but not during 2011.
Survey respondents also took on the issue of the 2010 health reform bill. While opinions differed about whether it should remain or be repealed, seven out of 10 economics bloggers agreed that health benefits should be treated as taxable income.
Other research highlights include:
92 percent recommend that the government "reduce regulatory burdens and fees on new firm formation" rather than implementing policies that would subsidize new firm formation. This level of consensus is noteworthy given the largely nonpartisan identification of the respondents.
Only 10 percent of bloggers believe the economy is doing better than official statistics indicate.
Projecting three years ahead, economics bloggers expect global output, inflation, and interest rates to rise faster than anything else. The happy news is that two-thirds of respondents anticipate employment growth in the United States.
92 percent favored trade agreements with South Korea, Colombia and Panama. A majority – 72 percent – also supported the adoption of recommendations from the president's deficit commission.
For this Kauffman Economic Outlook: A Quarterly Survey of Leading Economics Bloggers, the Kauffman Foundation sent invitations to more than 200 leading economics bloggers as identified in the Palgrave's December 2010 rankings. The Foundation surveys the bloggers each quarter about their views of the economy, entrepreneurship and innovation.
1 of 1 File(s)
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| Daily Digest Stockinvestips |
Upgrades for May 9 2011 Monday:
1) Dynex Capital ( NYSE: DX) upgraded from neutral to buy by Ladenburg Thalmann
2) Main Street Capital ( NYSE:MAIN) upgraded from neutral to buy by Ladenburg Thalmann.
3) Southwest Airlines ( NYSE:LUV) upgraded from hold to buy by Dahlman Rose.
4) Continental Resources ( NYSE: CLR) upgraded from hold to buy by Canaccord Genuity
5) Ultra Petroleum ( NYSE:UPL) upgraded from sell to hold by Canaccord Genuity
6) Agenus ( NASDAQ:AGEN) upgraded from Mkt Perform to Mkt Outperform by Rodman & Renshaw
7) Baker Hughes ( NYSE: BHI) upgraded from Equal Weight to Over Weight by Barclays Capital
8) Mesabi Trust ( NYSE: MSB ) upgraded from neutral to buy by Davenport.
See More here
Downgrades for May 9 2011 Monday:
1) American Science & Engineering ( NSADAQ: ASEI ) downgraded from buy to hold from the benchmark company.
2) GSI Commerce ( NASDAQ: GSIC) downgraded from buy to hold by Stifel Nicolaus.
3) Occidental Petro ( NYSE: OXY) downgraded from Overweight to Equal Weight by Barclays.
See More here
Coverage Initiated for May 9 2011 Monday:
1) Qihoo 360 Technology ( NYSE: QIHU) coverage initiated with Hold by Stifel Nicolaus
2) Regency Energy ( NASDAQ: RGNC) coverage initiated with Outperform by Robert W. Baird.
3) SANUWAVE Health ( OTC: SNWV ) coverage initiated with Market Perform by Rodman & Renshaw
4) Apollo Global Management ( NYSE: APO ) coverage initiated with Buy by UBS.
5) Apollo Global Management ( NYSE: APO) coverage initiated with Buy by Deutsche Bank.
See More here
