Epstein Secrets

Greek debt write-off once they reach budget surplus (Bud) • EU ministers may reach ECB oversight deal on December 4, officials say (Bloomberg) • Macau casino revenue +7.9% y/y in November versus median analyst estimates +8.0% • Australia near ytd highs ahead of RBA decision tomorrow (swaps show 84

al $1.52 div — DAL talks to buy Singapore Air Virgin stake — TESS cfo leaves Secondaries (announced/priced): KIPS, TEG GY IPO's: N/A Key Research: Barcap upgrades DUK/NI/OFS & initiates BSMX (ew), Evercore initiates T (ew), Piper cuts CF & upgrades CF, Key Research: GS upgrades EV and DELL (buy) & do

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

KD IPO's: N/A Key Research: GS downgrades US Managed Care and AGP/VRTX & adds ALXN to Conviction Buy list, SocGen downgrades UNA NA Key Research: Barcap downgrades RDSA LN & upgrades BBT, Think initiates IART/TH0R/REGN (buys) & HTWR (sell), MKM cuts MRK Key Research: Cantor initiates CUBE (buy) & SS

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%

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, Think inititates RLOC (buy), MS initiates EXC (ew) Key Research: Bern upgrades FB, DB cuts DNDN/TCK & initiates ASGN (buy) & rei

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

(MRD) files $700M IPO through Citi IPO's (lock-up expires): Antero Resources (AR), MacroGenics (MGNX) Western Refining (WNRL) US Key Research: ••• Barcap initiates TRLA (ew), DB upgrades ANNEM & initiates MCHX (buy) ••• GS downgrades CNVR (sell) & initiates AAL (buy) & upgrades ADI, BMO cuts MAT •••

to invest directly in its listed companies (FT<http://www.ft.com/cms/s/0/30be0304-352e-11e1-84b9-00144feabdc0.htmlfaxzzliHkbdyoT>) (Sensex +2.8%) Macau's December casino revenue increases 25% to $3 billion driven by Chinese tourists China Dec non-manufacturing PMI 56.0 vs 49.7 prior (seasonal bump

ock below $21.35 at expiration. Secondaries (announced/priced): N/A IPO's: Cancer Genetics (CGIX) files $50M through MBlair & Baird Key Research: Barcap upgrades RPXC/CYMI/LSI/MU & downgrades AMAT/CODE/FSL/INTC/MCHP & initiates CXS (ew) and WPX (ow) Key Research: Citi upgrades VFC (buy) & downgrades

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

K) files for 15.75M shares IPO through Chardan Capital and Maxim Group, Black Knight Financial Services (BKFS) files $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

% Asian markets finish higher led by China and Hong Kong as SHIBOR concerns subside since yesterday's reverse repos from the PBOC. Hong Kong listed Macau names rebounded from recent weakness and mainland banks were firmer ahead of a number of results after the close. The Nikkei had another rollercoast

ice range 280p-330p (pricing Nov 12), Savino Del Bene launches IPO (freight forwarder, est market cap €300-350M) EFTA00380438 US Key Research: • Barcap downgrades CRUS, Brean upgrades BIDU (buy) & initiates SKX (buy) ••• BTIG upgrades FB (buy), DB downgrades X, Evercore downgrades DLR ••• GS downgr