MOST NOTEWORTHY: Dow Chemical (DOW), Smart Modular (SMOD), Wolverine World Wide (WWW), Win-Dixie Stores (WINN) and Blue Nile (BLUE) were today's noteworthy initiations:

• UBS is positive on the ethylene cycle over the next two years and believes Dow Chemical (NYSE: DOW) can beat 2008 consensus estimates, initiating shares with a Buy rating.

• JMP Securities started Smart Modular (NASDAQ: SMOD) with a Strong Buy as a unit volume growth theme without much dependence on commodity memory chip pricing.

• Citigroup expects further upside given Wolverine World Wide's (NYSE: WWW) strong portfolio of brands, further growth opportunities through line extensions and international growth. The firm started Wolverine World Wide with a Buy rating and $33 target.

• Winn-Dixie Stores (NASDAQ: WINN) was started with a Market Perform rating, citing low levels of profitability and unproven ability to drive sustainable profitable sales.

• American Technology believes the valuation of Blue Nile (NASDAQ: NILE) leaves little room for upside, despite a highly attractive business model and strong fundamentals, and started shares with a Sell rating and $45 target...

OTHER INITIATIONS:

• Susquehanna started King Pharma (NYSE: KG), Sepracor (NASDAQ: SEPR) with Neutral ratings and Sciele Pharma (NASDAQ: SCRX) with a Positive rating.

• Citigroup initiated shares of Quicksilver Inc (NYSE: ZQK) with a Hold rating.

• Longbow started Mips Tech (NASDAQ: MIPS) with a Buy rating and $12 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

This comes as no surprise: A national survey found that individuals don't actually have to be smart to be rich. In fact, people with below-average IQ test scores can be just as wealthy as brainiacs. According to the study, it's more about attitude than smarts.

The study's author Jay Zagorsky, an economist at Ohio State University's Center for Human Resource Research, says that it's up to each person to have a positive attitude and want to save up money and build up his or her wealth, and each and every one of us can do it regardless of our IQ.

Indeed, intelligence positively affects income as people with higher IQ tend to have higher education leading to higher paying careers. Basically, individuals with higher IQ scores earned higher incomes with each additional IQ point associated with an income boost of $202 to $616 each year.

But, the higher income didn't make them more wealthy as IQ score had no impact on wealth. In fact, highly intelligent people actually have financial difficulties, maxing out credit cards and missing bill payments, making them less wealthy. The lowest financial distress was found around the average IQ score.