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LN (buy), Piper initiates KYAK (neut) Key Research: DB downgrades SGMS & initiates KYAK (buy), Bofa downgrades VALE, GS cuts DOM LN Key Research: Nomura upgrades ITV LN, Vontobel downgrades BAER VX, Canaccord downgrades AV/ LN Key Research: Citi upgrades DELB BB, MS downgrades PSON LN, Berenberg upg
y better today in Europe than yesterday but that's not saying much (of the 107 million shares traded in the DAX yesterday, 48 million were dealt in CBK GY and in general it was the lowest non-holiday trading day in the DAX, FTSE & US for almost a decade - and apparently HFT accounted for - 70% of the t
NTGR (sell) ••• Wells cuts HPQ/LUFK & upgrades RAX/GLP, Key upgrades FIX (buy), Janney initiates GOOG (buy) ••• CS upgrades HNT, BMO upgrades KEY, Nomura upgrades MGM, UBS cuts VHS, Opco assumes CPHD (op) Europe Key Research: ••• Citi upgrades the Spanish Banks (SAN SM, BBVA SM, BKT SM, CABK SM) & up
yds Bank to launch partnership with Monitise to develop mobile payment solution (MONI LN +1.5%) • BNP in talks to buy CBK's custody business (BAZ) (CBK GY -4.1% on some other market chatter) • Afren (AFR LN) announces significant oil discovery at Ogo-1 well offshore Nigeria (trading +6.0%) • Stageco
•• Raja downgrades BC, CS cuts CLX & upgrades RBC, Evercore initiates MHP (ew) Europe Key Research: • UBS downgrade ATLN VX, ENG SM, upgrade MS IM, Nomura upgrade CBK GY, ULVR LN • JPM upgrade ACA FP, HYDR RM, IRAO RM, initiate DCC LN (n), Nordea upgrade PNDORA DC • RBC downgrade WOS LN, Citi downgrad
des BC, CS cuts CLX & upgrades RBC, Evercore initiates MHP (ew) Europe Key Research: • UBS downgrade ATLN VX, ENG SM, upgrade MS IM, Nomura upgrade CBK GY, ULVR LN • JPM upgrade ACA FP, HYDR RM, IRAO RM, initiate DCC LN (n), Nordea upgrade PNDORA DC • RBC downgrade WOS LN, Citi downgrade EDP PL, BofAM
Entities connected to both Nomura and CBK GY

Lesley Groff
PERSONIke Groff
PERSON
Bloomberg L.P.
ORGANIZATION
Barack Obama
PERSON
Horizon
ORGANIZATION
Barron
PERSONBarcap
ORGANIZATIONJefferies
ORGANIZATION
Piper
PERSON
Wells
ORGANIZATION
Michael Jackson
PERSONEmpire Manufacturing
ORGANIZATION
Bernanke
PERSON
David Cameron
PERSON
Pfizer
ORGANIZATIONUS Key Research
ORGANIZATION
Philadelphia Fed
ORGANIZATION
Mark Carney
PERSON
Draghi
PERSONJanney
PERSON