Epstein Secrets

Key Research: Key Research: Key Research: Key Research: Key Research: Jeff cuts ADBE, Citi upgrades BBY, Sterne Agee initiates BPOP (neutral), Cantor initiates IMGN (hold), GS upgrades RF (buy), JMP downgrades HGSI, DB upgrades ATI/CEDC (buy's) & downgrades ABB, Raja downgrades SAPE, Lazard initi

.46%) CAD 1.0279 (+0.23%) Futures: Dow -8, Nasdaq -2, S&P -1 DXY $82.22 (+16c) Crude $82.53 (-10c) Gold $1618.50 (-90c) Spain cut 3 notches by Moody's to one level above junk with outlook still negative (Moody's also downgraded Cyprus). Spanish 10yr yield ticked up to 7.0% and currently 6.93% last

n up over the last 2 weeks. Secondaries (announced/priced): MDW, ROSG IPO's: N/A Key Research: Stifel assumes RTN (buy) & GD/LMT/NOC/LLL (holds), Cantor initiates ZMH/SYK (holds) Key Research: Piper downgrades VCLK & initiates TITN (ow), Canaccord initiates MM (buy), Jefferies downgrades PEG Key R

l Link was quoted earlier as saying parts of the EU report "read like a wish list" (leans too much on mutual debt models without improved controls). Moody's downgraded 28 Spanish banks after the close as expected (12 cut to junk) citing the sovereign downgrade earlier this month as well as the possibili

tifel initiates TRN/GBX (buys) & ARII/RAIL (hold) & downgrades ADTN, BMO initiates AMZN (mp) Key Research: Raja downgrades AGP, Wells upgrades DIS, Cantor initiates BRKR (buy), Bern Barcap initiates PVR/FMX (ow's) & KOF (ew)& downgrades LXK & upgrades AMCX JPM initiates Y (neut) & upgrades CVX, Citi u

ing European Sectors: Tech -1.76%, Basic Resources -1.73%, Telco -1.3% HOLX sees revs below est - ELY 12% workforce cut - RAH rating under review at Moody's Notable Options Activity Yesterday: SBAC (56.77 -1.6%) opening cust bought 3500 sep 50 puts paying up to .50 earnings in early aug pretty notable

AFFX (convert) IPO's: N/A Key Research: William Blair initiates TIF (mp), Think initiates CTXS (hold), Sterne Agee downgrades ATHN Key Research: Cantor initiates WFM/UNH/HUM (buy's) & AET/HNT/WLP (hold's), Raja downgrades EAT Key Research: GS downgrades COP/COL (sell) & upgrades TSO, Barcap upgrade

May 23) (bid-to-cover 1.9 vs 1.7 prior) Italian industrial orders decreased -1.9% m/m in April (orders -12.3% in unadjusted y/y terms) next week Moody's to publish impact on Spain banks stemming from June's sovereign downgrade LCH lifts margin costs for trading most Spanish government bonds (effectiv

GR/SHP LN/GSK LN/PGHN SW, Barcap downgrades ALV GRIHNR1 GR/MUV2 GR/PHNX LN & upgrades UNI IM • Berenberg initiates REE SM (buy) and ENG SM (hold), Cantor initiates ADN LN/ASHM LN/SDR LN/ARP LN (buy) and HGG LN (hold) ▪ Commerzbank upgrades HENS GR/OR FP (buy), CS downgrades MPI LN/EXPN LN/MPI FP & up

rs resist inheritance reform FT • Fracturing of UK politics complicates general election FT • PwC sold 'tax avoidance on industrial scale' FT • Moody's urges slower bank bonus payouts FT EFTA00357142 • Spain's lauded transition to democracy under fire FT • Arrest of 'tiger' Zhou Yongkang sheds