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HMSY/AGP, Stifel downgrades HGG, Wells initiates VPHM (mp) and REXX (op) Key Research: Susquehanna initiates NXPI (neut), JMP initiates JNPR (mp), Baird downgrades CVGI/MTOR/MOD Key Research: Guggenheim initiates CMA (neut), Stifel initiates LTM (hold), Raja upgrades SKYW, MS downgrades WM Key Res
380 superjumbo sales in 2012 (trading -3.3%) Britvic profit warning (poor weather & fruit shoot bottle cap at fault) (trading -15.8%) Telefonica (TEF SM) is considering to sell stake of its Latin American subsidiaries (Cinco Dias) Centrotherm (German solar) submits application to start insolvency pr
iates ATEN (op) • Jefferies upgrades UNFI (buy) and initiates HLT (hold), Nomura upgrades GHL & cuts MSI EFTA00370916 • Raja initiates NMBL (op), Baird initiates LPI (op), UBS upgrades NMBL (buy) & cuts NTAP • Canaccord initiates MDVN (hold) and NPSP/REGN/LPTN (buy), MS upgrades PDS • Multiple brok
PH LN/DIA LN • Jefferies assumes UNA NA/WPRO IN (hold) and TCS IN (buy), Bofa reinstates IRAO RU (buy) • Mainfirst initiates PTC PL/TIT IM (op) and TEF SM (up), MS cuts TRN IM & upgrades FIVE LN • Swedbank cuts AXFO SS, Natixis cuts WHA NA, Kepler upgrades CGCBV FH (buy) • SEB Enskilda downgrades MEO1
itiates WCG (hold) and GASS (buy)b. Riley intiates ADBE (buy) • Citi initiates AMP (buy), KBW upgrades AF/ETFC/TOL, DB upgrades AN, CS cuts VVVVW e Baird downgrades COH, JPM downgrades FCS, Raja downgrades TXNm DB upgrades UBS (buy) Europe Key Research: • UBS add LG FP to most pref - HOLN VX removed,
SEB upgrade IFSB SS, ORNBV FH • Exane downgrade ES IM, ELE FP, Chev restart SKFB SS (up), SAND SS (up), ALFA SS (up), ATCOA SS (op) • Bern upgrade TEF SM, Beren initiate LO24 GY (b), Equinet upgrade RHM GY, KBC upgrade AKZA NA • Nordea downgrade NOK1V FH, AFB SS, initiate ALGETA NO (b), upgrade NZYMB
Entities connected to both Baird and TEF SM

Lesley Groff
PERSONIke Groff
PERSON
Barron
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Bloomberg L.P.
ORGANIZATIONBarcap
ORGANIZATIONJefferies
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Horizon
ORGANIZATIONImperial
ORGANIZATIONBerenberg
ORGANIZATIONBilliton
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Blackstone
ORGANIZATIONLiberum
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