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Templeton’s Mobius: New Crisis Lurking ‘Around the Corner

“The world didn’t learn its lesson from the recent financial collapse and is doomed to repeat a new downturn in the near future, says Mark Mobius, head of the $50 billion emerging markets unit at Templeton Asset Management.

“There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis,” Mobius says, according to Forbes Magazine.

Complex financial derivatives, especially credit default swaps tied to the housing sector, threw the country into the worst recession since the Great Depression, and are still out there — all $600 trillion of them — trading without proper oversight or care, Mobius says.”

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Upgrades and Downgrades This Morning

Upgrades

ARUN – Aruba Networks upgraded to Buy from Neutral at Janney Montgomery Scott

MOS – Mosaic initiated with a Buy at Lazard

PERY – Perry Ellis downgraded to Neutral from Buy at Suntrust

SPRD – Spreadtrum Comms initiated with an Outperform at Credit Suisse

NLY –  Annaly Capital Mgmt downgraded to Market Perform from Outperform at Keefe Bruyett

SJM – J.M. Smucker added to Focus List at JP Morgan

RCL – initiated with a Buy at Jefferies

AGU –  initiated with a Buy at Lazard

PANL – Universal Display initiated with a Buy at Goldman

CF – initiated with a Buy at Lazard

CREE – Cree initiated with a Buy at Goldman

POT –  initiated with a Buy at Lazard

EQY – Equity One upgraded to Buy from Hold at ISI Group

ERF – Enerplus Res Fd Trust initiated with an Underweight at Barclays

MASI – Masimo initiated with an Underperform at BofA/Merrill

HPQ – Hewlett-Packard upgraded to Buy from Neutral at Sterne Agee

SNN – Smith & Nephew initiated with a Buy at Societe Generale

BC – Brunswick initiated with a Market Perform at BMO Capital

JCI – Johnson Controls initiated with an Outperform at Macquarie

AMR – AMR upgraded to Hold at Dahlman Rose

BCSI – Blue Coat upgraded to Neutral from Sell at Miller Tabak

MSCC – Microsemi initiated with a Buy at Cantor Fitzgerald

BTE – Baytex Energy Trust initiated with an Overweight at Barclays

DXCM – Dexcom upgraded to Buy from Hold at Capstone

BCSI –  Blue Coat upgraded to Neutral at Sterne Agee

FLS – Flowserve initiated with an Outperform at Wedbush

TSU – TIM Participacoes initiated with an Outperform at Bernstein

XEL – Xcel Energy upgraded to Outperform from Neutral at Macquarie

CNX – CONSOL Energy initiated with a Buy at CRT Capital

RATE – Bankrate target raised to $24 from $21 at Stifel Nicolaus

VIV – Vivo Participacoes initiated with a Market Perform at Bernstein

MRTN – Marten Transport upgraded to Buy at Stifel Nicolaus

BCSI – Blue Coat target raised to $28 from $25 at Stifel Nicolaus

PEGA – Pegasystems initiated with a Buy at The Benchmark Company

F – Ford Motor remains Ticonderoga’s top pick in the auto sector

CTAS – Cintas upgraded to Buy from Neutral at Citigroup

Downgrades

XCO – Exco Resources downgraded to Hold at Stifel Nicolaus

DRI – Darden Restaurants downgraded to Equal Weight from Overweight at Morgan Stanley

SFD – Smithfield Foods upgraded to Outperform from Neutral at Credit Suisse

TDG – Transdigm Group downgraded to Neutral from Buy at BofA/Merrill

VECO – Veeco Instruments initiated with Neutral at Goldman

IPI – Intrepid Potash initiated with a Neutral at Lazard

ESE – Esco Tech downgraded to Hold from Buy at BB&T

CHSI –  Catalyst Health Solutions initiated with a Hold at Stifel Nicolaus

GRPN – Groupon initiated with a Neutral at Wedbush

ANR – initiated with Fair Value at CRT Capital

MTOR – Meritor downgraded to Hold at KeyBanc Capital Mkts

RBCN – Rubicon Tech initiated with a Sell at Goldman

ICE – IntercontinentalExchange downgraded to Underperform from Outperform at Credit Agricole

CYN – City National downgraded to Underperform from Neutral at BofA/Merrill

MRVL – Marvell downgraded to Hold from Buy at Craig Hallum

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Gapping Up and Down This Morning

Gapping up 

BCSI +20.6%, NLST +11.6%, MHGC +5.9%,  PEIX +9.3%, ARUN +5.6%, MENT +3.4%, BA +2.1%, MHGC +5.9%,

MRVL +3.2%, UBS +2.6%, DB +2.4%, HPQ +1.1%, +2.8%, SDRL +1.9%, TOT +1.5%,  QCOR +0.8%, BP +0.4%,

BCS +1.1%, SSRI +2.3%, SLW +2.3%, SLV +2%,  GPS +1.3%, ATW +3.2%, GDX +1.3%,  CYBX +2.1%, GLD +1.1%,

Gapping down

CRM -7.2%, DLB -0.7%, HNZ -0.7%, OZM -3.3%, DLB -0.7%, XCO -12.5%, HNZ -0.7% , LEN -1.4%,

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