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& resumes TIBX (neut) & initiates PANW (buy) Key Research: Citi initiates CYOU/GA/PWRD (buy's) & GAME/NTES (neut's) & downgrades GRPN Key Research: Janney downgrades NWY, CLSA initiates ARW/AVT/TECD (op) & IM (uw) Key Research: UBS initiates PANW (neut) & upgrades MCRO LN and ELN (buy), Piper initiates
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 upgrades TDC DC, Key Research: UBS upgrades ELN ID, BofA i
ary 15 calls for $0.20 and $0.25. Secondaries (announced/priced): ARRY, PSLV, PVR, LMI LN (rights), PRGX, LGCY, TUMI, PAA IPO's: N/A Key Research: Janney downgrades DIS, Barcap upgrades HFC & downgrades CTXS, Jeff upgrades MNT/MOH Key Research: Nomura upgrades MMM, Raja initiates ABMD (mp) & upgrades
iti initiates TUMI/ZLC (buy), Bofa initiates PANW (buy), Investec downgrades SGE LN Key Research: Bofa initiates EXL (neut), GS upgrades ATK (buy), Canaccord initiates LCI (buy), Cheuvreux downgrades AGL IM Key Research: Equita downgrades AGL IM, Numis upgrades G4S LN, HSBC upgrades KBC BB, Seymour downg
's: N/A Key Research: Jefferies initiates EDG (buy) & downgrades RAX & upgrades CLR (buy) Key Research: Baird downgrades FMER, Citi downgrades NSM, Janney initiates CSE/CIT (buy's) Key Research: JMP initiates FB (op), CS upgrades PHM/RYL/SWN, BNP upgrades RRC (buy) Key Research: DB upgrades TTM and NU
grades PHM/RYL/SWN, BNP upgrades RRC (buy) Key Research: DB upgrades TTM and NU (buy), Wells upgrades DKS & initiates FRC/VRSN (op's) Key Research: Canaccord upgrades FST (buy), FBR downgrades SYMC, MS initiates EDG (ow) & MRC EFTA00411520 (uw) Reporting Pre-Open: BF.B, AHONY, AMSC, BV, CYBX, HOV, MTN
N Key Research: DB upgrades LPX (buy), Imperial initiates URS (op) & downgrades NCMI, Atlantic downgrades EP Key Research: JPM intiates ALNY (ow), Janney initiates APH (buy) and MOLX (newt), BB&T downgrades RAH Key Research: Mizuho downgrades MAKO, Baird upgrades CTSH & downgrades TNB & initiates RXN
IPO's (filed/priced): N/A Key Research: Barcap upgrades VECO & downgrades BP & initiates RXN (ow) and MM few), Wells upgrades VRTX Key Research: Canaccord initiates UTEK (buy) & upgrades XEC (buy), upgrades NNN Key Research: DB upgrades LPX (buy), Imperial initiates URS (op) & downgrades NCMI, Atlanti
UHS & AHS/LNCR/SUNH/THC (sells), Opco upgrades RVBD Key Research: GS downgrades GPI/PMCS/SNDK & MCHP/ISIL (sells) & upgrades ALTR/ATML/SMTC (buy), Janney downgrades AKAM Key Research: MS upgrades ENR/HOLX & downgrades BDX, Canaccord downgrades PETD, DB initiates AAP/DLPH/CMG (buys) Key Research: Jef
ades GPI/PMCS/SNDK & MCHP/ISIL (sells) & upgrades ALTR/ATML/SMTC (buy), Janney downgrades AKAM Key Research: MS upgrades ENR/HOLX & downgrades BDX, Canaccord downgrades PETD, DB initiates AAP/DLPH/CMG (buys) Key Research: Jeff upgrades AEO/ANN (buys) & downgrades ONXX/GR, Bofa downgrades HLS/KND, Multip
ates WDAY (op) ••• Baird downgrades LOPE, BMO initiates TEVA/ACT/AGN (op) & AGN/MYUFRX (up) ir Wells initiates ENSG (mp) & ESC (op) & upgrades BSX, Janney initiates DDD (buy) ••• UBS cuts AES, SocGen upgrades BA, Wedbush initiates ININ (neut) & JCOM/NUAN (op) ••• Johnson Rice downgrades MDR, JMP downg
DDD (buy) ••• UBS cuts AES, SocGen upgrades BA, Wedbush initiates ININ (neut) & JCOM/NUAN (op) ••• Johnson Rice downgrades MDR, JMP downgrades MU, Canaccord downgrades RCII ••• BB&T upgrades SRI (buy), JPM downgrades GEVA, Nat Bank cuts GSS EFTA00390548 Europe Key Research: • JPM upgrade GARAN TI and
Entities connected to both Janney and Canaccord

Lesley Groff
PERSONIke Groff
PERSONBaird
PERSON
Bloomberg L.P.
ORGANIZATION
Barron
PERSON
Barack Obama
PERSONBarcap
ORGANIZATION
Piper
PERSON
Ghislaine Maxwell
PERSONJefferies
ORGANIZATIONStifel
ORGANIZATION
Wells
ORGANIZATION
Moody's
ORGANIZATION
Bernanke
PERSON
Macau
LOCATIONEmpire Manufacturing
ORGANIZATIONNomura
ORGANIZATION
Michigan
LOCATION
Tony Blair
PERSON
Angela Merkel
PERSON