Financial news and Information

This past week has brought back the feeling of a falling knife. Not a good feeling, especially if you are over invested. The good news is that the markets are probably going to find a bottom soon. The bad news is that no one knows at what price. That is the $1MM question. And by far and away, that is the question that I am hearing most often from friends, family, and readers. So, where will the market find support?

Before we get to the charts and some levels to keep an eye on, let me provide you with 5 pieces of information that carry importance in understanding the summer lead up to the current state of the financial markets:

1) The European sovereign debt situation worsened and became contagious over the summer months. The PIIGS (Portugal, Italy, Ireland, Greece, and Spain) have always been a concern, but it wasn’t until July/August that the markets really hammered the debt of these nations (see: credit default swaps). This, in turn, hit the European equity markets… hard. The anxiety across Europe has grown to a light boil and social mood is only getting worse. Youth unemployment is unacceptably high in many European countries and will have dire consequences down the road if its not dealt with soon. Consumer confidence in Europe (and America) is low and the mood dreary and anxious, to say the least

2) The global slowdown started to become more apparent as China’s economic numbers slipped. This came to the forefront this week as China’s manufacturing numbers were particularly weak. Tighter policies enacted to slow lending, inflation, and the prospects of a real estate bubble have impacted economic growth. China’s markets have quietly dropped to dismal levels as well, but we haven’t heard much about this due to all the noise out of Europe. Make no mistake, though, the markets are watching China closely.

3) Many major market indices triggered a Monthly DeMark TD 9 Sell set up back in May. [If you are unfamiliar with TD analysis, I encourage you to check it out — it’s complicated, but it has a very good technical track record.] I wrote about this sell set up in June within articles like Market Uncertainties Abound and Stocks, Global Markets at Crossroads. Per the sell set up, the markets would have a 4 month period of weakness (from June through the end of September). Clearly, the markets have taken up every last ounce of that time allotment, but nonetheless the signal lasts through the end of next week. Note also that markets typically struggle during the summer months, hence the investor phrase “sell in May and go away.”

4) September tends to be one of the worst months for the markets. On the flip side, participants tend to rotate into Tech during September in anticipation of a year end rally. This has many market pundits cautiously optimistic going into year end.

5) Politics. I think we are at a point of recognition here. The Government is hamstrung by an increasingly toxic environment for spending, which is fueled by failed policies, increased public debate, and, well, A LOT of government debt; the era of intervention and artificial sweetners is coming to an end. Furthermore, Ben Bernanke and The Federal Reserve are nearly out of bullets. And that bazooka they once carried is now more like a squirt gun. This isn’t good news for Housing sector. Other to-be-affected areas that come to mind include Defense, Infrastructure/Transportation, Education, and Social/Welfare programs — and cuts to these sectors to not bode well for social mood. Medicaid and Social Security reform are bigger slices of the pie, but are probably off the table until after the 2012 elections. All in all, the markets are trying to price this in and find a bottom.

So here we are, in late September, looking for a bottom. So what are the charts telling us, and at what price might we find support and a probable bottom?

The S&P 500 is my go-to major market index for technical analysis so that’s where I’ll focus. On the S&P 500, I’d like to think the 1102 level (.382 fibonacci retracement support of 2009-2011 bull market) holds or at least slows the drop, but thinking a quick dip below 1100 is likely. I am nibbling a bit here and there on select stocks, but staying cautious. Right now I am roughly 30% invested, but easy does it was my motto this week. I will start buying in earnest when/if the S&P 500 falls below 1100 (targeting 1050 – 1080) OR the markets start to show some resiliency and strength.

Note that after a big move up or down, markets often find support at fibonacci retracements (fractions/percentages of that move). For instance, the bull market from March 2009 to May 2011 went from roughly 667 to 1370 on the S&P 500. This move equated to 703 points. 38.2% of that move is 268. When you take away 268 points form 1370 you get roughly 1102, which is the current low (Aug 9) for the correction on the S&P 500. This is just one example.

In my opinion, the next week or two is pivotal. Earlier this month, I highlighted five oversold stocks to buy in September for a bounceback into year end. Next week, I’ll offer up some additional stocks I like across select sectors and investor types. Until then, have a safe and enjoyable weekend.

No positions in any of the securities mentioned at time of publication.

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.

Big data, Hadoop, Facebook, income statements – whew! At times the amount of information that an IT manager needs to understand and process can seem to be overwhelming. Let’s take just a moment to take a step back. Just what exactly are the very basic IT manager skills that evey IT manager needs in order to be successful in their career?

IT Skills That Every IT Manager Needs To Have

As IT managers you would think that we’d need to have some serious IT skills, right? Well, actually no. Yes, we do need to be able to understand what our team is doing; however, what is even more important is to understand why they are doing it. What we need is a list of the IT manager training that we all need to receive. The following list represents the bare minimum set of IT skills that any IT manager needs to have:

• Typing: Wasn’t this a class back in high school? Look, no matter if you spend your time with a laptop, a tablet, or a smartphone, you are going to be doing a lot of typing. The ability to quickly and accurately type is a skill that every IT manager must have just to keep up with how fast the modern workplace moves.
• Word Processing: We don’t just type for the fun of it. We create documents. No matter if it is a business plan, a budget, a proposal, or a performance review, the #1 application that most IT managers will be spending their time using is going to be a word processor. Make sure that you fully understand the in’s and out’s of your particular flavor of word processing software so that you can get the most out of it.
• Spreadsheet: Right after the word processor, the spreadsheet is an IT manager’s best friend. This critical tool allows you to both conduct “what it” tests and to talk with the finance arm of the company in a language that they will understand. Make sure that you learn how all of the different features of how spreadsheets work so that you can quickly build models to answer all of your finance questions.
• HTML: The Internet has arrived and it has taken over the office. We use the web to communicate and to exchange information. The ability to create good looking web pages using HTML that clearly communicate information is a new skill that all IT managers must have.
• XML: XML is the language that web based programs use to exchange information between them. The good news is that it is very readable by us humans. Since so much of each IT project has to do with getting different pieces of software to talk with each other, you are going to have to be able to speak the language of XML in order to understand this critical part of the projects that your IT team will be working on.
• Project Management: Although IT managers are not necessarily generally thought of as being project managers, we are. We may only control a small part of any given project; however, we need to know how to break work down into smaller pieces, track its progress, and report on our team’s status on any given project.
• E-mail: It seems sort of silly to include email on this list, doesn’t it? However, when you think about how much time each of us spends each and every day working on the email that we’ve received or creating new emails to send, you’ll start to understand how important this skill is. The one thing that you don’t want to spend any time doing is fighting with your email program. Learn how it works and then be sure to take full advantage of all that it offers to you.
• PowerPoint / Keynote: The ability to communicate the ideas that are trapped in your head to a group of people and to convince them to support whatever idea you are presenting is a critical IT manager skill. Learn how to use PowerPoint / Keynote to create great looking slides that get your message across.
• Photoshop: I added this skill at the last minute. What you really need to have is the ability to manipulate images using some form of software. The power of a well created image can be long lasting, but you won’t be able to tap into this if you can’t create the images that cause it to happen in the first place.

Finance Skills That Every IT Manager Needs To Have

I can almost hear what you are saying: I work in IT, not in finance. Well guess what, I’ve got news for you – we all work in finance! In order to obtain funding for your IT team and then to be able to report on how you are using the funding that you’ve been given you’ll need to be able to speak the language of finance. Here are the basic skills that you are going to need to have:

• Budgeting: One of the most important skills that any IT manager can have is the ability to accurately create a good budget. Understanding what kind of funding your team is going to need and being able to make a proposal to get it is the mark of a successful IT manager.
• Financial Analysis: Where is the money going and how much of it will we end up spending and when? Simple questions like these need to be answered by an IT manager on the basis of performing some financial analysis. This kind of knowledge will allow you to take action before your team encounters financial problems.
• Cost Accounting: The ability to collect, process, and understand the costs that your IT team is creating is a key IT manager skill. You’ll need to be able to live within your budget and the ability to keep track of how much is being spend is an important part of being able to do this.
• Forecasting: The ability to accurately predict the future would be a great skill for any IT manager to have. However, none of us have this skill. Instead, what we need to be good at is creating accurate forecasts based on the best information that is available to us at the time. Do this well, and your career will go far.

What All Of This Means For You

Here in the 21st Century it can seem almost overwhelming at times the number of skills and the amount of knowledge in addition to all of that needed IT team building talent that an IT manager needs to have in order to be successful. The good news is that once you strip away the hype, the actual skills that we need to have turn out to be a manageable number.

The IT skills that an IT manager must have are very different from the skills that a developer must have. On the surface they may appear to be fairly basic. However, a closer looks reveals that they are the IT skills that will be used every day. The same goes for the financial skills that an IT manager needs. They are basic, but they are the ones that will be used over and over again.

Being an IT manager is hard work. In order to make sure that you will be successful, you need to make sure that you have all of the basic skills that it takes to do the job right. If you are weak in any of the areas that we’ve discussed, take the time to get better so that you can maximize the value of the IT team that you are managing.

The Foreign Exchange market takes place wherever one currency is traded for another. Also referred to as the Forex, FX, or currency market, the Foreign Exchange market is the largest and most liquid financial market in the world. Here, large banks, central banks, governments, multinational corporations, currency speculators, and other financial markets and institutions trade to reach their ultimate goal of making profit. According to reports on Forex news, the average daily trade in the international Forex market, including related markets, is currently almost US$4 trillion. That’s a lot of money, and you might want to have a share.

Through the use of the Internet, you can discover the well-kept secrets to becoming a successful Forex trader, making you earn not just a healthy income, but a robust profit, if you dare. The first thing you have to do, of course, is to read up on the subject so you can be better informed and thus, make better money-making decisions. You have to read articles related to Forex news.

One of the most important things that you have to understand is that there are a number of factors that affect foreign currency trading. Ultimately, currency prices in the Forex market are dictated by the result of supply and demand forces, as with any other market in the world. However, in order to make sense of patterns, you’ll do well to consider several factors, including economic issues and political conditions. Being regularly updated on Forex news is vital to your success as a foreign currency trader.

The economic factors include economic policies embraced by one country and disseminated by agencies of a government and its central banks, economic conditions, which are manifested through economic reports, and other economic indicators. The most important of these factors is economic policy. This encompasses a government fiscal policy, which pertains to the budget or spending practices of an entire nation, and monetary policy, through which a government’s central bank influences the cost and supply of money, which is then reflected by the rise or fall of interest rates. Economic conditions, on the other hand, include everything from the way the government budget deficits of surpluses, inflation levels and trends, the balance of trade levels and trends, and the overall economic growth and health of a country. You can find Forex news about global economics in the news, whether on a cable television channel or in a section of a newspaper.

The political factors include internal, regional, and international political conditions and events that can have a significant effect on currency markets and one country’s currency value. The most common example of this is political upheaval and instability, manifested by strong and constant protests out in the streets against a government. The presence of this kind of activity creates a negative impact on a nation’s economy, resulting to a fall in the value of its currency.

Now you know how important it is to tune in to Forex news. Keep yourself updated and you’re sure to be ten steps ahead in becoming a successful foreign currency trader.

Managing your personal finance should not be a difficult task even if you are not financially intelligent. There are experts who specialize in every discipline of life including all areas of finance. So if you need to step up your financial game, you will need to talk to an expert in this field of endeavor.

The importance of meeting with a financial advisor cannot be overemphasized for the reason that it helps you become more knowledgeable in the area of finance and money management. Money and Financial issues are so complicated that so many people have little or no understanding of the subject which is the main reason why they are financially stranded. Most people think that having more money will solve their financial problems which is totally wrong. All they need is an advisor who will help them understand their situation and give them a plan that will eventually get them to the level of financial success.

A major issue is that a lot of people believe that only high net-worth individuals make use of the services of financial advisors which is not very true. It is true that some financial advisors would only attend to wealthy clients but most will attend to anyone who needs their services without much ado. It is usually the charges of these advisors that scare prospective clients away which should not be. Financial advisors are usually compensated in various ways which include:

Payment of fixed fee: in this case a certain amount of money is charged hourly or based on a particular project. They will meet with the client one on one to interview, asses, and advice so as to be able to forge a financial strategy that will take them from point “a” to point “b”.

Some financial advisors charge only commission: This is when the client posses’ financial products or paper assets that can be sold for cash so as to be able to execute the recommendations of the financial advisor and at the end of the transaction the advisor gets a certain amount of the proceeds as commission.

Amalgamation of commission and fees: some very well established advisors charge a fee to meet with you and may also receive a commission off the sale of any financial products you may want to sell or buy.

Some advisors who work for companies or organizations that offer financial advisory services may be paid salary.

Counterbalancing: These advisors again make both a fee and receive a commission except that the commission will be offset against any fees you are charged.

When you take a home loan or are planning to invest for retirement, the expert advice of a certified financial advisor is very much needed to be able to chart the best course of action suitable for you because what worked for another person might not work for you as we are peculiar beings. So do not hesitate to seek expert advice from renowned professional in the field personal finance management.

If you need more information on how to get expert financial advisory service advice, please log on to http://www.thestrategicsolutions.com.

It’s Thursday June 15, 2006, and finally we had an up day, the market showed some strength pretty much for the entire trading session, granted it was modest but definitely a welcome sight. The Nasdaq avoided making history by being down for a ninth day in a row and the S&P 500 broke that 7-month slide.

Yesterday morning the Labor Department reported that the May Consumer Price Index aka the CPI rose 0.4 percent, after a 0.6 percent rise in April. This is beyond the comfort level of the inflation fighting Fed. These latest numbers are pretty much an indication that the Fed will raise interest rates on June 29, 2006. So we may have to prepare ourselves for another bump up in August but lets not get too ahead of ourselves just yet.

Political Front

It looks like Iran’s master plan may be coming to light as Iran’s President Mahmoud Ahmadinejad stated that he wants to increase cooperation with a central Asian security group that includes China and Russia and that the region needs a solid wall against any outside interference. This was said at the S’hanghai Cooperation Organization Summit, which consisted of Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. China has publicly said that they will not be a member of the group, that is the story today anyway, as we know tomorrow always brings another element into the mix.

Now sticking to the Shanghai Cooperation Organization Summit or the SCO Summit, Russia’s president Vladimir Putin made a proposal while he spoke at the SCO, he proposed the creation of an energy club within the SCO and mentioned that Russia could actually finance some economic projects pursued by the six-nation regional forum. And the plot thickens.

President Bush spoke on Wednesday, this comes on the heels of a surprise visit that he made to Baghdad. He looked confident as he stated that he senses something very different happening in Iraq. He predicted that the progress in the region will be steady and he looks for the violence to subside.

The Bank of Japan’s Governor Toshihiko Fukui issued a public apology to the Japanese parliament on Thursday as it related to an investment that he made in a fund run by an ex-bureaucrat arrested for suspected insider trading, he said he would not keep any profit. He invested approximately $87,000 back in 1999 and held it since then, so this was not a recent investment and was prior to the arrest of the high profile fund manager Yoshiaki Murakami.

Tid Bits

Boeing (NYSE: BA) should be the recipient or better yet the beneficiary of the recent slide of Airbus. The credibility of EADS, who is the majority owner of Airbus, was questioned after the company reported substantial delays of their A380 super jumbo planes. This just sliced over 30% of the company’s stock value off the top. Now keep in mind that these delays may be contract breakers and Boeing could begin to receive a slew of orders for their latest plane that was created to compete with Airbus. The street liked what they heard and that pushed Boeing up $5.03 as it closed at $82.01 on Wednesday.

Goldman Sachs (NYSE: GS) is not taking any prisoners on this one, they have raised their offer for largest port operator, Associated British Ports Plc, by 3.7% or US$4.76 billion (2.58 billion pounds). This is in an effort to trump a potential offer from Macquarie Bank Ltd. The acquisition of this company puts Goldman Sachs in an interesting position as they could now be granted U.S. port deals with ease. A recommendation from the new Treasury Secretary Hank Paulson doesn’t hurt their cause either.

Crude oil futures got a boost yesterday on the heels of a report from the United States that showed US crude stocks suffered a larger-than-expected fall as US refineries boosted production rates to meet peak summer fuel demand. So we may see follow through today.

As we mentioned on Wednesday, precious and base metals seems to have come close to hitting a bottom, but we need follow through before we can be sure of that. Gold, Silver, Copper and other metals rose yesterday and could possibly rise today as the demand is coming into play once again. The precious metals are potentially closer to a bottom than the base metals so be aware of that going in. Of course this trickle down to the metals stocks, companies like Rio Tinto (NYSE: RTP), BHP Billiton (NYSE: BHP), Crystallex International (AMEX: KRY), Phelps Dodge (NYSE: PD) Newmont Mining (NYSE: NEM), Peru Copper (AMEX: CUP) and Bema Gold (AMEX: BGO) should move higher as the metals begin to rebound. So lets look at this carefully today and going into the weekend.

Lehman Brothers (NYSE: LEH) is looking to make a slash in Asia, as they are prepared to invest US$20 to $30 million in Shenzhen Development Bank, which is one of only five banks listed in China. As we have been speaking about on “Wall Street to Main Street” the expansion in both China and India will continue because the market is so great. The inflation worries that have been dragging on the markets globally cannot curb what is on tap to happen. If companies like Citigroup (NYSE: C), JP Morgan (NYSE: JPM), Goldman Sachs (NYSE: GS), Bear Sterns (NYSE: BSC), Lehman Brothers (NYSE: LEH) and UBS AG (NYSE: UBS) plan on competing in the future they have to solidify themselves as global players now so they can be well established for the future. This is beyond the financial industry, this holds true for retail, food, beverage, manufacturing and the automobile industry. General Motors (NYSE: GM) amidst their bumps in the road are growing nicely overseas, and believe it or not that is where the continued growth will be for a lot of industries. So investors should look deeper into global market conditions and take a good look at the companies that stand to benefit.

Movers and Shakers

Some major movers in yesterdays trading session included Hansen Natural (NASDAQ: HANS) this seems to be a main stay on WSMS but the stock continues to swing almost on a daily basis, it traded up $7.81 to close at $157.76 on Wednesday.

As the base metals saw some light yesterday so have the companies involved in the industry, Carpenter Technology (NYSE: CRS) rose $4.19 to close at $99.37, the stock has fallen from their May 2006 high of $142.11. Keep in mind that prior to the spike in base metals the stock was hanging in the $60 range, as we said precious metals seem to have hit a relative bottom, more so than base metals.

In a move that will put certain issues to bed for both German companies, Bayer (NYSE: BAY) and Merck (NYSE: MRK) have come to terms and Bayer will pay Merck US$4.6 billion for its share of Schering, a move that clears the way for Bayer to acquire Schering. This was good news for the street as Bayer rose $3.07 to close at $41.28 on Wednesday/

After slipping from the $72 range in May 2006 and closing as low as $56.86 in June, Nutrisystem, Inc (NASDAQ: NTRI) on the heels of bump up from Lazard Capital, rose $$2.84 to close at $59.70. The stock shot up in April from the mid $40 range to its 52 week high of $76.33 on a positive quarter and the launch of a marketing campaigned geared towards males. Now this quarter will tell the story of Nutrisystem and show whether this campaign met the expectations of not only the company but of the street.

Other stocks that made nice moves on Wednesday include Casey’s General Stores (NASDAQ: CASY) traded up $4.04 to close at $24.83, PetroChina (NYSE: PTR) traded up $3.84 to close at $94.47, Oil Services HOLDR’s (NYSE: OIH) traded up $3.57 to close at $135.67, Monster Worldwide (NASDAQ: MNST) traded up $3.36 to close at $38.94, Kookmin Bank (NYSE: KB) traded up $3.45 to close at $76.65 and SouthWestern Energy (NYSE: SWN) traded up $3.25 to close at $28.05 on Wednesday.

Under Ten

Other stocks that made moves on the upside under ten bucks include Gold Reserve Inc (AMEX: GRZ), the stock moved up as the precious metals started to rise, if this should continue they are one of a few companies that stand to make nice movement. Gold Reserve traded up 84 cents to close at $4.80 on Wednesday. Other stocks to look at under ten bucks that stand to benefit for the bounce include Silver Wheaton (NYSE: SLW), Crytallex International (AMEX: KRY) and Bema Gold (AMEX: BGO).

Taser International (NASDAQ: TASR) made some movement on the upside as its Chairman Phillips W. Smith bought $762,000 worth of the company’s stock. This usually gives a boost to the level of investor confidence in the stock. Even though that pushed the stock to close up 55 cents at $$8.02, you have to understand that back in December of 2004 this was a $31 stock. Now I haven’t had the opportunity to look deep into the company so I am not aware if it split or not while it was at its highs, but from my initial look, it doesn’t seem so. So proceed with caution on this one.

Chinese telephone maker Qiao Xing Universal Telephone Inc. (NASDAQ: XING) moved higher yesterday even after they raised US$40 million in a convertible bond offering. The company made some bold statements ahead of the release of their 2005 earnings on June 20, 2006,. The company stated that the their 2005 basic earnings per share, before one-time gains, will “increase significantly” to well above $1, that is compared to 17 cents per share in 2004. Now that is a bold statement but what are those one-time gains?, this one is tricky as the company touting their earnings prior to the earnings announcement scheduled to be release in a few days just raises a red flag for me, but I could be wrong. The stock traded up 55 cents to close at $8.02 on Wednesday.

Other stocks that moved higher yesterday under ten bucks included Emcore Corp (NASDAQ: EMKR) which traded up 84 cents to close at $8.69, Internet Initiative Japan (NASDAQ: IIJI) traded up 50 cents to close at $6.99, Sunopta ((NASDAQ: STKL) traded up 45 cents to close at $7.92, Anadigics (NASDAQ: ANAD) traded up 44 cents to close at $6.64 and Arm Holdings (NASDAQ: ARMHY) traded up 42 cents to close at $6.18.

Downers

Some stocks that traded down yesterday included OYO Geospace (NASDAQ: OYOG) which traded down $6.74 to close at $47.50, Teleflex (NYSE: TFX) traded down $4.66 to close at $53.38, OptionsXpress (NASDAQ: OXPS) traded down $3.81 to close at $22.23, Regional Bank Holders (NYSE: RKH) traded down $2.08 to close at $143.55, Pegasus Wireless (NASDAQ: PGWC) traded down $1.97 to close at $6.70, Apollo Group (NASDAQ: APOL) traded down $1.73 to close at $52.61 and Sunrise Senior Living (NYSE: SRZ) which trade down $1.62 to close at $28.80.

Now some stocks under ten bucks that received the royal smack down yesterday include Terremark Worldwide (AMEX: TWW) drops like a rock on a wider quarterly loss. The stock traded down $2.42 to close at $3.69,of course the downgrades didn’t help the situation but this is a big drop and could flag a ton of margin calls if it has not already. So this drop could continue today.

Now this is a recent IPO that has fallen from its IPO price, Basin Water (NASDAQ: BWTR) sells systems for the treatment of contaminated groundwater, which is their line of business. The stock opened at $15.70 when it came public in May, that’s $3.70 above its IPO price of $12. The stock traded as high as $16.55 but that was then and this is now, the stock traded down $2.35 to close at $9.65 yesterday. The stock may get a little bounce to keep it about the $10 mark this week.

Others under ten bucks that traded down yesterday include InvesTools (NASDAQ: IEDU) traded down $1.07 to close at $7.79, Hurley Industries (NASDAQ: HRLY) traded down 85 cents to close at $9.21, National Coal (NASDAQ: NCOC) traded down 79 cents to close at $6.82, SunTerra Corp (NASDAQ: SNRR) traded down 66 cents to close at $9.02 and UQM Technologies (AMEX: UQM) traded down 60 cents to close at $3.32.

Analyst Upgrades/Downgrades

Recent Analyst upgrades include Wabtec Corp (NYSE: WAB) was upgraded to a Buy from a Neutral by Janney Montgomery, Ladish Inc (NASDAQ: LDSG) was upgraded to a buy from a Neutral by Sidoti & Co, Sycamore Networks (NASDAQ: SCMR) was upgraded to a Hold from a Sell by Citigroup Investment Research, Celestica (NYSE: CLS) was upgraded to a Buy from a Neutral by UBS, Suez (NYSE: SZE) was upgraded to a Buy from a Hold by Deutsche Bank Securities, Barr Labs (NYSE: BRL) was upgraded to an Overweight from a Neutral Weight by Prudential Equity Group and Black & Decker (NYSE: BDK) was upgraded to a Buy from a Hold by Citigroup Investment Research.

Recent Analyst downgrades include General Mills (NYSE: GIS) was downgraded to a Hold from a Buy by Citigroup Investment Research, Volt Information Sciences (NYSE: VOL) was downgraded to a Neutral from a Buy by Sidoti & Co, Alexander & Baldwin (NASDAQ: ALEX) was downgraded to a Buy from an Average by Caris & Company, Maverick Tube (NYSE: MVK) was downgraded to an Under Perform from a Market Perform by Raymond James and to a Sell from a Hold by AG Edwards, and New Century Financial (NYSE: NEW) was downgraded to a Market Perform from a Market Outperform by JMP Securities.

Recent analyst coverage initiations include Cognizant Technology (NASDAQ: CTSH) was initiate with a Hold rating by Clear Asset Management, Saxon Capital, Inc (NYSE: SAX) was initiated with a Hold rating and a $10.25 price target by Deutsche Bank Securities, Brown Show Inc (NYSE: BWS) was initiated with a Buy rating by Sidoti & Co, Northstar Neurosciences (NASDAQ: NSTR) was initiated with an Outperform rating by Cowen & Co and Mobility Electronics (NASDAQ: MOBE) was initiated with a Buy rating by Sidoti & co.

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