Epstein Secrets

r pressure as H1 profit & margins miss estimates (COLR BB trading -2.3%) • Lufthansa aims to cut long-haul unit costs by 10% by 2015 & 20% by 2025 (Bloomberg) • Bahrain Telecom (Batelco) to buy Cable & Wireless Monaco business for $680 million • French car registrations for November weaker at -22.9% (R

es DLR/EDD/KRC (buy's) & downgrades UDR, BofA upgrades SDR LN, Baird upgrades CUBE Key Research: SLHN VX MS downgrades KNIN VX & upgrades PWTN SW, Santander downgrades EOAN GR, BofA downgrades Key Research: TLW LN Santander upgrades ENEL IM, Swedbank downgrades YAR NO, DB upgrades FP FP, HSBC upgrades

rform a scenario analysis, by altering expectations for a single company or sector. Each sheet in the workbook contains a separate set of estimates: Bloomberg consensus, I/B/E/S, J .P. Morgan Research, and Consensus Bear (which aggregates the lowest dividend forecast among the Bloomberg consensus for each

t, Soc Gen was expected to contribute —2 points to 2012 dividends and - 2.5 points to 2013 dividends. Most other banks have reported already (namely Santander) but Telefonica reports on Friday and at 9-10% of dividend expectations is worth keeping an eye on even if it isn't a bank. The linked spreadsheet

ns and Impact on South Korean equity market Kospl Index 100= day before event 115 110 • 105 • 100 • 95 • 90 • 85 • sa • 0 1 2 3 Source: Bloomberg. 4 5 6 7 8 9 10 11 12 13 14 KA D H Date Event A B C E F H J K August-1998 June-1999 June-2002 September-2004 July-2006 October

hy? Its economy is still on the brink of recession. Were it not for the ongoing collapse in imports, Spain's GDP would have declined in Q3. BBVA and Santander should be able to ride out a recession due to international diversification, but the other half of the banking system (Caja banks) is another story

ta: Jobless Claims / Import Price Index @ 8:30am, Bloomberg Consumer Comfort @ 9:45am, Treasury Monthly Budg

search: ASSAB SS Key Research: (op) HSBC upgrades GENL LN / MOBB BB / AKZA NA, Nomura downgrades STL NO, Santander Commerzbank upgrades KNIN VX, Santander upgrades CA FP, HSBC downgrades SY1 GY BofA downgrades NEX FP & TEMN SW, CS initiates European IT Services, CS LN ING initiates DE NA (hold), Numi

bush Securities. Inc. Figure 2: Recent Coverage Bloomberg Forbes lkslaliestot - red:sake .SmIerirthidl

Ventures Goldman Sachs NYSE NASDAQ UBS Cid Barclays Wecturh CME Investigating Blockchain Use Cases BNY !Arlon IBM US Federal Re Samsung Santander PayPal/Bnuntree Stripe NCR Square Intuit First Data Global Payments Toshiba. VisualTouch Companies scceptmq Sitcom') payments Microsoft De