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ff initiates CERN (hold), Key Research: MS initiates AME/RBC (ew's) and HUBB/CBST/NBIX/NPSP (ow's) and OPTR (uw) Key Research: UBS cuts ADTN/PLCM, Stifel downgrades ENS, Wells downgrades NOVA, JMP initiates ACCL (op) Key Research: RBC initiates CF (sp) & cuts UPS, Capstone initiated NILE (buy), Piper
falls FT< Od7c-11e2-bfcb-00144feabdc0.html#axzz28DLD0q4f> Portugal announces `enormous' tax rises FT< 11e2-97a1-00144feabdc0.htmlitaxzz28DLD0q4f> Hollande forced into awkward EU contortions FT< Od55-11e2-99a1-00144feabdc0.html#axzz28DLD0q4f> China slowdown hits Asian growth 11e2-97a1-00144feabdc0.htm
is may be a case of buying protection after a 5% run 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 i
n-mortgage-debt/article4369806/> Howard Davies - Hollande should enjoy his honeymoon while it lasts FT Opi
iper initiates PRX/QCOR (ow's) and SGNT (neut), Brean Murray upgrades NJR (buy), Davenport initiates LL (neut) Key Research: Evercore upgrades NOK, Stifel initiates AYI (hold), Wunderlich upgrades XXIA (buy) & downgrades IBKC Key Research: GS downgrades LL & upgrades WR, UBS initiates SAM (neut) & ass
that "significant downside risks still persist" and that "stress has increased as of late." Round 1 of the French election on Sunday and polls show Hollande with a slight 28%-25% edge over Sarkozy (Round 2 polls for May 6 run-off still have Hollande winning by a more comfortable margin of 57%-43%). BofA
(buys) Key Research: GS resumes ETP (neut), SocGen adds BN FP to Premium List, BMO downgrades CMA Key Research: Jefferies upgrades CNOOC (883 HK), Stifel initiates BX (buy), Nomura upgrades GPN (buy) Key initiates WIRE (hold), Piper initiates Wunderlich downgrades FSLR (sell), Reporting Pre-Open: A
rs > 50% of the vote (unlikely with 5 main candidates), the 2 front-runners will go onto Round 2 on May 6. Right now the latest polls from CSA have Hollande leading Sarkozy 29% to 24% in Round 1 (had been tied a few days ago) and ultimately winning the Round 2 run-off in a more convincing fashion 58% to
l initiates CRM (hold), JMP initiates ITCI (mp), Topeka initiates CCC (buy), Webush assumes PTCT (op) ••• Baird downgrades ACHN, Piper upgrades CRY, Stifel upgrades DEI, JMP initiates ITCI (op) ,Drexel Hamilton initiates CRM (hold) Europe Key Research: • Banca Akros upgrades CVAL IM, Barcap initiates
l of Europe will be closed on Thursday and Friday). Russia $RTS +1.7% and the RUB is stronger after Putin spoke by phone with Poroshenko, Merkel and Hollande last evening and they agreed to hold the next round of peace talks tomorrow and Thursday. Saudi oil minister vows that they will not cut production
S (op) • Opco initiates NXPI (op) & upgrades AEO & downgrades APTO/SVU, Roth initiates NDRM/JYNT (buy) • RBC initiates FGEN (op) & downgrades CBST, Stifel initiates FGEN (buy) and COG/APC/NFX/NBL (hold) • Wedbush initiates CSCO (op) and JNPR (neut), Lonbow downgrades LPX & upgrades LECO (buy) Europe K
e the oil runs out we won't need it The Times • Hollande risks wrath of Merkel by rejecting economic refor
Entities connected to both Stifel and François Hollande

Jeffrey Epstein
PERSON
Lesley Groff
PERSONIke Groff
PERSON
Barack Obama
PERSON
Bloomberg L.P.
ORGANIZATION
Angela Merkel
PERSON
Barron
PERSONBaird
PERSON
George W. Bush
PERSON
Nicolas Sarkozy
PERSONBarcap
ORGANIZATION
Vladimir Putin
PERSON
Marc Rich
PERSON
Piper
PERSONJefferies
ORGANIZATION
Hillary Clinton
PERSON
Eric Trump
PERSONNomura
ORGANIZATION
Wells
ORGANIZATION
Joe Biden
PERSON