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//www.nytimes.com/2011/05/20/business/20norris.html? ref=todayspaper&gwh=954ABFC102DFEDB20596AEDDAE083A6C> Making Things in America NYT Op-Ed Paul Krugman<http://www.nytimes.com/2011/05/20/opinion/20krugman.html? EFTA00433697 r=l&ref=todayspaper&gwh=59AC712C1ABD54DAF374885D7802A03E> Mobile operators
initiates APO/PCBK (op's) Key Research: GS upgrades WBMD (buy) & downgrades AIV/LRY, RBC initiates BP.LN (op) & RDSA.LN (top pick) Key Research: Canaccord downgrades INTO & upgrades YELL.LN, Bernstein upgrades GILD Reporting Pre-Open: ANN, CIS, DANG, DCI, HIBB, KIRK, YGE Reporting Post-Close: BH Econ
> Prisons, Privatization, NYT r=1> Patronage (Paul Krugman Op-Ed) IMF challenges Berlin's crisis response
HIS, AEC IPO's: N/A Key Research: Barcap downgrades CIM, Imperial initiates TPC (op), Nomura initiates FB (buy), Piper upgrades TFM Key Research: Canaccord initiates SWKS (buy) & TQNT/RFMD (holds), Telsey initiates ADS/DFS/COF/AXP/V/MA Key Research: GS adds VOW GR & VOD LN to Conviction Buy List & cuts
withdraw from Basel group of regulators (rules "anti-American") (FT<http://www.ft.com/intl/cms/s/0/905aeb88-dc50-11e0-8654- 00144feabdc0.htmltaxz>) Paul Krugman says Euro could collapse within days (ECB needs to cut rates & extend loans) (NYT<http://www.nytimes.com/2011/09/12/opinion/an-impeccable-disaster.h
r Key Research: MS initiates ALGN (uw) & XRAY/TFX (ew) & HRC/SIRO (ow), Baird upgrades IRET Key Research: Roth downgrades CYCC/SPPI/CLDX/DNDN/REGN, Canaccord initiates ZLCS (buy) Key Research: Auriga upgrades MYGN (buy), Bankhaus upgrades PAH3.GR & downgrades HEI.GR Key Research: Citi cuts Bank estimates
er Newspaper Articles & Stories WSJ cautious: Ctrip.com (CTRP) WSJ • Goldman Sachs prepares to deal with Volcker rule WSJ • Kick that Can (Op-Ed Paul Krugman) NYT • DOJ & States weigh action vs Moody's Reuters EFTA00396068 • Draghi move fuels currency war fears FT • Apple under pressure on $137bn c
CBL • HSBC initiates MDR (neut) & downgrades CAM, SocGen downgrades NBL, Wells initiates ZBRA (mp) • Nomura upgrades PCS, Avondale downgrades ANN, Canaccord cuts TEVA, DB upgrades NTES (buy) • Jeff initiates PAY (hold), Roth downgrades SKUL Europe Key Research: • UBS downgrade SMIN LN, EUR PW, EMMN SW,
Entities connected to both Paul Krugman and Canaccord

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Samantha Power
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Benjamin Netanyahu
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