Epstein Secrets

(youth unemployment 35.9%) Chen Guancheng has left the US embassy (now in Beijing medical facility and re- united with family) EFTA00414285 Wynn Macau (1128 HK) gets land grant approval for casino resort on the Cotai strip Macau gaming revenues for April rose 21.9% YoY to 25b1n patacas (inline with

ades IHG LN (global hotel note), BMO downgrades KSU/PSB, Citi upgrades EFTA00414286 STM Key Research: Macquarie upgrades CKEC, MS downgrades RSH, Wells upgrades EW & downgrades HPY Key Research: CRT upgrades ACI (buy), DB downgrades AXS, Bernstein downgrades VMED Reporting Pre-Open: AGN, BEN, CBE,

a mixed quarter (revenues look inline but EBITDA and RevPAR weaker) (trading -3.3%) Wynn Macau profit below ests ($759.8M vs $795.3M) on increasing Macau competition (closed -2.4%) LVMH meets estimates and revs solid (says it is well-equipped to maintain growth) (trading -0.59%) Christian Dior beat

), Baird upgrades TTEK/PEET, JMP downgrades BRCD Key Research: Jefferies downgrades RIMM & upgrades Sands China (buy), MS cuts RSH & upgrades NOV, Wells downgrades EW Key Research: JPM initiates FDO (ow) & DG (neut) & downgrades CVC & upgrades CP/AAP/MDC, Piper downgrades RSTI & upgrades WBC Key Re

(lowest yield on record, again) South Korean exports -8.8% in July (most since Sept. 2009) vs est of a 3.7% drop (inflation 12yr low) Gaming (+2%) Macau July casino revs MOP 24.6bn, +1.5% YoY (expectations lower b/c typhoon) SoFun Holdings said China's avg home prices rose 0.33% in July MoM to 8,717

cuts Airlines Sector to cautious & downgrades DAL/UAL and JBLU/SKYW (sells) Key Research: Nomura downgrades BOSS GR, Macquarie downgrades LLOY LN, Wells upgrades ABFS Key Research: Nomura initiates FUR NA/PGS NO/ SDRL (buy's) & HTG LN/TGS NO (neut) & GA FP (reduce) Reporting Pre-Open: ADP, AGN, AMT

in May Spain's budget minister will urge regions to deepen budget cuts (meeting in Madrid EFTA00407721 4:30pm CET) Gaming (-0.17%) DB & RBC say Macau July casino revs may drop 6%-7% on effect of typhoon Vicente Japan's unemployment rate unexpectedly declined in June to 4.3% versus estimate 4.4%

ester United (MANU) amended S-1 discloses 16.67M shares, expected range of $16-$20 Key Research: Evercore downgrades VLCCF, GS upgrades BSFT (buy), Wells upgrades CXO Key Research: Atlantic upgrades S, JPM downgrades DNDN, Piper cuts VRTX & upgrades NSPH/LMNX Key Research: Barcap downgrades AJG/BRO,

material change to policy is expected — likely BOJ will double ETF purchases. Hong Kong struggled on continued weakness in tech (Tencent 4.5%) and Macau names (Sands 4.9%, Galaxy -5.6%). The World Bank lowered China's 2014 GDP growth to 7.6% from 7.7% which also dampened sentiment. South Korea outper

••• Opco downgrades ANN, HSBC upgrades C, ISI upgrades EGN (strong buy), MS cuts RDC ••• PacCrest upgrades INTC, RBC upgrades KND, GS upgrades JBLU, Wells upgrades LII Europe Key Research: • Banca IMI upgrades TFI IM, Banco Santander upgrades CABK SM, Barcap upgrades GRT SJ • Berenberg downgrades OSR

nsurance -1% and brokers -1.5%) after more chatter that China's govt may take steps to cool the market. In HK, the HSI was higher, helped in part by Macau (+2.8%) which saw a bounce after the recent drubbing (H-shares underperformed on the weakness in mainland). Japan was back online after yesterday's

$100M IPO US Key Research: .' Barcap initiates VA (ow), DB initiates VA (buy), MLB initiates EFC (hold) & HALO (buy) ••• Ladenberg downgrades MMM, Wells initiates ACAT (mp) Europe Key Research: • SNS downgrades NUO NA, Degroof downgrades REC BB Reporting Pre-Open: PNY Economic Data: MBA Mortgage A