Epstein Secrets

RO/WSH & reiterates MMC/AON (buys), JPM upgrades CLH Key Research: Citi initiates ADS.GR (buy) & upgrades Transports & Household Personal Products, Piper downgrades DGIT Key Research: GS adds ORCL to conviction buy list & downgrades IPI (sell) / DAR & upgrades AGU/MOS/SAFM Key Research: HSBC upgrade

gust (M2 growth = slowest pace in at least 6 years) India industrial output grows at slowest pace since 2009 (output +3.3% versus estimate +6.2%) Toyota debt cut by Fitch to A from A+ with stable outlook (prolonged inherent structural weakness) Suzuki to ask Volkswagen to sell its Suzuki shares back

Research: • Cowen initiates AMAT/ASMUBRCM/IMOSTTER (op's) & INTC/KLAC/LRCX/SNDK/TN (neut's) ••• GS reinstates AXLUPPG (neut's), ISI upgrades LIFE, Piper assumes VCLK (neut), Bofa upgrades ZNGA (buy) EFTA00396307 ••• Lazard initiates RPRX/NBIXNNDA (buy's), Mizuho upgrades APKT, Opco upgrades CFR & c

) • Sanofi says Zaltrap approved in Europe for Colorectal cancer (trading +1.9%) • Seat Pagine to begin bankruptcy proceedings (trading -20%) • Toyota 3q results missed, raised full-year forecasts on FX assumptions (closed -1.20%) • Hitachi lowered net income forecast after missing ests for O3 pro

, ISIS, DE NA EFTA00390703 IPO's: Armada Hoffler Properties (AHH) 16.5M-shares priced at $11.50 US Key Research: ••• Mizuho upgrades MYGN (buy), Piper initiates CRI/PLCE (CRI), Citi upgrades AME (buy) & cuts IEX • Barcap upgrades BAX, Opco cuts CA/TWTC, Baird downgrades CMA, CLSA downgrades MDLZ •

rse, FCF better, maintains FY outlook (trading +10%) • Die Welt running a story that the ECB may start buying bad bank loans in Southern Europe • Toyota profit forecast misses analyst estimates amid China slump (numbers out after Japan close) • Toshiba forecasts higher profit on chip & power equipme