Epstein Secrets

et, reit FY guidance (trading -2.5%) • CRH O3 inline, cost cutting on track, cautious outlook/EBITDA guidance, shorted into Ws (trading +0.70%) • Vodafone H1 light, revs small miss, £2.4bn Verizon dividend inline, no consensus change (trading -4.7%) • Syngenta begins Devgen offer (to run to 12/05), re

: Key Research: Key Research: Key Research: Key Research: Wells initiates HITT (op), CS initiates REGN/SGEN/XOMA (op's) & IMGN/PDLI (neutral's) Barcap initiates BERY (ew), DB initiates SDRL (buy) & downgrades CXS/NLY JPM downgrades CJES, Opco downgrades SYUT, Citi initiates BERY/SDLP (buy's) GS up

tial acquisitions (trading +1.6%) PostNL CEO resigns over personal issues, not business driven but market won't like (trading -3.7%) Deadline for Vodafone to make offer or walk away from Cable & Wireless extended to noon on Apr 23 DB denies that it is considering selling shares to raise capital after

)/GLE FP (buy) and BNP FP, Maxim initiates EXEL (buy), FIG downgrades FHN Key Research: JPM upgrades BRO & downgrades MMC, JMP initiates SYNM (mp), Barcap re- initiates PAA/ETE (ow's) Reporting Pre-Open: AEP, GE, HON, IR, JCI, KMB, MCD, SLB, ACU, AOS, BPOP, CP CN, IDXX, LBAI, MAN, NPBC, ORB, RCL, SR,

departures and fines (Bloomberg) Philips Q1 strong with solid top line driven by healthcare, remains cautious for 2012 (trading +4.7%) billion) Vodafone agrees to buy Cable & Wireless for 38p/share (closed Friday at 32p) (£1.04 Aviva set to pull out of US in a move that could lose the UK insurer £1 b

ed 4.25 Secondaries (announced/priced): N/A IPO's: N/A Key Research: Key Research: ABVT Key Research: (ow) Key Research: BMC Key Research: Barcap upgrades HTWR/AZN LN & downgrades NOVOB DC, BMO downgrades CHSI JPM upgrades ARM LN & initiates PPG (ow), RBC initiates IPHI (op) & downgrades MS u

014 after three years (trading -2.0%) • Betfair is understood to have sounded out investors over a revised approach (Telegraph) (trading +1.1%) • Vodafone set to call time on ever increasing dividends as Europe takes its toll (Times) (trading -0.23%) • Standard Chartered, Carson Block is short company

onal (FI) files $500M through Barclays, Credit Suisse and Simmons US Key Research: ••• Citi upgrades BEN (buy), FWM initiates FWM (op), DB cuts AZ, Barcap upgrades HIG & cuts MLNX EFTA00390626 ••• GS cuts CTRIP (neut), Jeff upgrades ESRX/DFT (buys), KBW upgrades APO & cuts AB • RBC downgrades HIW &

ow) (trading +2.0%) EFTA00386142 • PostNL O2 ebit better, revs touch light, sees FY addressed mail volume drop 9-11% = worse (trading -10.3%) • Vodafone's Italian unit has started litigation against Telecom Italia seeking damages > €1 billion • Veolia H1 adjusted operating cash flow misses, revenues

s (HMHC) files for $100M through Goldman and Morgan Stanley, CommScope (COMM) files $750M through JPMorgan, Deutsche and BofA US Key Research: ••• Barcap downgrades FOSL, Citi downgrades AMP, DB downgrades ALL, GS upgrades SHOO (buy) ••• Jefferies downgrades KRFT, Roth initiates CSIQ (buy) & upgrades