Epstein Secrets

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y the top Republicans and Democrats on two Senate Commerce subcommittees, Sens. Jerry Moran (R., Kan.), Roge

r Internet sentiment ranking screen (page 7), FB, WIX, TREE have best sentiment while TWTR and TRIP have weakest. A few early checks positive, mixed eCommerce data Our early ad checks suggest robust overall demand, aided by somewhat easy comps vs 1Q’16, with Instagram momentum a standout. eCommerce is more

15 3015 4015 1016 Q16 4Q16 1017E2017E 3Q17E4Q17E BofAML vs. Street Below Above Above Below AY Source: BofA Merrill Lynch Global Research estimates, Bloomberg 7h eee | istening Hours Y/Y Growth === Active Listners Y/Y Growth Source: BofA Merrill Lynch Global Research estimates, company report Bankof America

Accelerated depreciation of machinery & equipment Commerce 28,570 Deferred taxes for financial firms on cert

0.1 0.1 0.1 Utilities 0.2 0.2 0.2 0.2 S&P 500 ex. Financials & Real Estate 117.0 102.4 78.3 68.5 S&P 500 GAAP EPS impact ($9) ($8) Source: FactSet, Blaomberg, BofAML Global Research estimates, BofA Merrill Lynch US Equity & US Quant Strategy We estimate share buybacks add $4 (or as high as $6) to EPS (GAA