Epstein Secrets

• Raja downgrades CTXS, RBC initiates VTG, DB upgrades LNC/MET (buy), Citi initiates HCN (neut) • Wells initiates CHUY (mp) & FRGI (op) & cuts XLNX, Piper cuts ASML, KBW initiates SFST (op) &cuts RNST ••• Citi reinstates PBF (neut), JPM cuts NTRS, Rafferty cuts PNC, MS downgrades SNDK, BB&T cuts WNC E

e Nikkei strengthened throughout the day, helped by the weaker JPY which regained a 100 handle (100.27 last), as well as positive sentiment for the Upper House election coming up this Sunday. Softbank's (+4%) momentum continued from yesterday following Alibaba numbers and reports of a fuel cell JV with Bloo

cap reinstates NDAQ (ow), Citi downgrades MOSNHS, DB initiates ADS (buy) ••• Jefferies upgrades ADBE (buy), JPM upgrades BSAC & downgrades RBCN ••• Piper upgrades ARMH, Roth adds DGIT to focus list, Stifel upgrades MLNX (buy) ••• SunTrust initiates APD/PX (buys) & upgrades ADS (buy) & cuts AXLL, GS cu

kes over as BOE Governor July 4 — BOE/ECB rate decisions July 10 — Fed Minutes from June 18/19 FOMC meeting July 11 — BOJ rate decision July 21 — Upper House elections in Japan July 31 — FOMC rate decision August 1 — BOE/ECB rate decisions August 21 — Fed Minutes from July30/31 FOMC meeting September 5

d/priced): NRG Yield (NYLD) 19.6M class A share IPO priced at $22 US Key Research: ••• William Blair initiates CIEN/INFN (op's) & JDSU/FNSR (mp's), Piper cuts HOLX ••• RBC initiates FIG (op), Susq initiates NOW (positive) & WDAY/DATA (neutral) ••• DB cuts JNJ/TWTC/JMI/ANH & initiates BXMT (buy), Ever

AN, BBT, BLK, DOV, DHR, HBAN, KEY, MS, PM, VZ, SWY, CMG, MSFT, GOOG, SYK) Friday: Earnings (BHI, COL, GE, HON, IR, SLB, VFC, STT, KSU, STI) Sunday: Upper House elections in Japan, Portugal "national salvation pact" deadline between 3 top political parties Key Events on the Horizon July 31 — FOMC rate decis