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hrough JPMorgan, Deutsche and BofA US Key Research: ••• Barcap downgrades FOSL, Citi downgrades AMP, DB downgrades ALL, GS upgrades SHOO (buy) ••• Jefferies downgrades KRFT, Roth initiates CSIQ (buy) & upgrades MSTR (buy) • Piper downgrades QCOM, Raja downgrades EAT & upgrades TCBK, MS downgrades TEVA •
des LXS GR & HHFA GY, Exane upgrades CNP FP & downgrades DLG LN • HSBC downgrades HHFA GR, JPM reinstates KIE LN (ow), Kepler initiates El FP (buy), Liberum upgrades RPS LN • Landesbank downgrades SIE GY & upgrades BOSS GY, MS downgrades TEVA IT, Natixis downgrades BZU IM Reporting Pre-Open: TSN, ALX, C
LN & POLY LN, SocGen downgrades RF FP, Citi upgrades TCG LN, Swedbank upgrades MEDAA SS • Kepler downgrades DIA IM, Titan Cement upgrades TITK GA, Liberum upgrades PSM GY (buy), KBC upgrades RCUS BB • Citi raises price target SKYD GY, Citi names DSM NA to most preferred list (replacing YAR NO), Sarasi
OSUR IPO's (filed/priced): N/A Key Research: UBS initiates AAPL (buy $740pt) and EMC (buy) & downgrades SYT/DUK, BMO downgrades SUI Key Research: Jefferies downgrades HMSY/AGP, Stifel downgrades HGG, Wells initiates VPHM (mp) and REXX (op) Key Research: Susquehanna initiates NXPI (neut), JMP initiates
MS downgrades WM Key Research: Longbow cuts USG, Citi downgrades PNW & upgrades WCH GY, Redburn upgrades ITX SM Key Research: UBS upgrades LXS GY, Liberum downgrades LLOY LN, Canaccord downgrades SAB LN Key Research: Berenberg upgrades MTX GY, DB upgrades TFI FP, UBS downgrades LIN GY Reporting Pre-Op
ARCB (buy) & cuts SNCR • Longbow downgrades BWLD & upgrades KMT, Piper downgrades PACB Europe Key Research: ••• Liberum upgrades SDF GY & ICL IT, Jefferies initiates SRG IM (buy), Citi downgrades G IM (sell), Barcap downgrades CCH LN • Alpha Value downgrades SWEDA SS, Berenberg initiates IFX GY (buy) &
iates PSTG (pert), Stifel upgrades ARCB (buy) & cuts SNCR • Longbow downgrades BWLD & upgrades KMT, Piper downgrades PACB Europe Key Research: ••• Liberum upgrades SDF GY & ICL IT, Jefferies initiates SRG IM (buy), Citi downgrades G IM (sell), Barcap downgrades CCH LN • Alpha Value downgrades SWEDA SS
arcap upgrades LNC & downgrades RGA, GS upgrades GPC and SFUN (buy) • Imperial upgrades ZBRA/GDP and initiates SBGL (op), RBC initiates ATEN (op) • Jefferies upgrades UNFI (buy) and initiates HLT (hold), Nomura upgrades GHL & cuts MSI EFTA00370916 • Raja initiates NMBL (op), Baird initiates LPI (op), UB
s FDO Europe Key Research: • Citi upgrades PSM GR, CS upgrades CGL LN, CM-CIC upgrades ACA FP (buy) • DB resumes F IM (sell) & upgrades VOLV.B SS, Liberum upgrades CSR LN (buy) • Danske Bank downgrades ATRAV FH, Exane upgrades VIE FP/DNB NO/SEV FP • Equinet upgrades DB1 GR & downgrades G1A GR, Numis u
DB initiates MDSO/CERN/ATHN/MDAS/MDRX (buy's) & CRL/CVD/PRXL/CPSI/QSI (hold's) DB downgrades O, GS downgrades PM, Imperial initiates RAD/RDWR (op), Jefferies cuts ED ••• Citi upgrades MTL (buy), Raja cuts GBX/QCOM/TRN, BMO upgrades HSH, JPM cuts SJM ••• FBR initiates MWW (op), Longbow initiates NAV (neut
w), upgrade PC IM, • Nordea upgrade ROCKB DC, Numis downgrade ICP LN, MS upgrade SGC LN • UBS downgrade ANTO LN, initiate MUV2 GY (b), SREN VX (n), Liberum initiate APR LN (s) Reporting Pre-Open: ANF, DLTR, GME, PDCO, TGT, BKE, BONT, BRC, CATO, CRRC, CYBX, DCI, DEST, EDAP, KIRK, LQDT, PACT, PERY, RAVN,
Entities connected to both Jefferies and Liberum

Marc Rich
PERSON
Bloomberg L.P.
ORGANIZATION
Lesley Groff
PERSONIke Groff
PERSON
Barron
PERSONFisher
PERSON
Barack Obama
PERSONBaird
PERSON
Michigan
LOCATIONStifel
ORGANIZATIONBarcap
ORGANIZATION
Norway
LOCATIONNomura
ORGANIZATION
Stanford University
LOCATIONKepler
PERSON
Michael Jackson
PERSONBerenberg
ORGANIZATION
David Cameron
PERSON
Horizon
ORGANIZATION
Philadelphia Fed
ORGANIZATION