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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
ws/business/comment/david-blanchflower/david- blanchflower-the-mpc-didnt-have-a-clue-and-still-doesnt-8037040.html> Key Events This Week Wednesday: Empire Manufacturing, CPI, Earnings (ANF, DE, SPLS, TGT, A, CSCO, LTD, NTAP) Thursday: Housing Starts & Building Permits, Earnings (DLTR, GME, ROST, SHLD, GPS, MRVL) Fr
grades CXS/NLY JPM downgrades CJES, Opco downgrades SYUT, Citi initiates BERY/SDLP (buy's) GS upgrades FFIV and ALB (buy), Piper upgrades SSYS/DDD, Janney initiates RBC (buy) Bofa upgrades EV, MS downgrades JNS, JMP downgrades JEF, ABN initiate CEO SS (buy) Akros downgrade PC IM, Equinet upgrade GBF G
Global Tech Conference (NYC), MS TMT Conference (Barcelona), Earnings (ANF, SPLS, TYC, LTD, NTAP) Thursday: China's 18th Party Congress concludes, Empire Manufacturing, CPI, Philadelphia Fed Survey, US Bank Stress Tests, RBC MLP Conference (Dallas), Earnings (DLTR, GME, HP, ROST, TGT, VIAB, WMT, ADSK, DELL, GPS, SH
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
GS Industrials Conference (Boston), UBS Global Tech Conference (NYC), MS TMT Conference (Barcelona), Earnings (ANF, SPLS, TYC, LTD, NTAP) Thursday: Empire Manufacturing, Philadelphia Fed Survey, RBC MLP Conference (Dallas), William Blair Financial Technology Summit (Boston), Earnings (DLTR, GME, HP, ROST, TGT, VIAB,
to Conviction Buy List Key Research: Citi downgrades ISAT LN (sell) & initiates MTDR (neut) and IPCM (buy), HSBC downgrades GLE FP Key Research: Janney upgrades NWY (buy), Kepler initiates Prada (hold), Stifel initiates ETN/IEX (buy's) and CIR (hold) Reporting Pre-Open: AAON, ADES, BKR, BWEN, EBIX,
ts This Week Wednesday: Bernanke speaks in Nashville (9am), Import Price Index, US Current Account Balance, Japan Industrial Production, Thursday: Empire Manufacturing, PPI, Philly Fed Friday: CPI, Industrial Production, Michigan Confidence Ike Groff 680 Washin ton Bl • (203) 302-7300 l• mailto (Description: De
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
lities Conf, JPM Global TMT, UBS Global Financials, Earnings (A, XONE, CACH) Wednesday: MBA Mortgage Applications, US PPI & IP, NAHB Housing Index, Empire Manufacturing, TIC Flows, Bofa Global Transports Conf, Earnings (CSC, DE, ACAT, WAG, M, CSCO, WYY) Thursday: CPI, Philadelphia Fed, Housing Starts, RBC Capital M
Entities connected to both Janney and Empire Manufacturing

Lesley Groff
PERSONIke Groff
PERSON
Barron
PERSON
Bloomberg L.P.
ORGANIZATION
Barack Obama
PERSONBaird
PERSONBarcap
ORGANIZATION
Ghislaine Maxwell
PERSON
Stanford University
LOCATION
Bernanke
PERSONNomura
ORGANIZATIONCanaccord
ORGANIZATIONRetail Sales
ORGANIZATIONStifel
ORGANIZATION
Horizon
ORGANIZATION
Wells
ORGANIZATIONJefferies
ORGANIZATION
Piper
PERSON
Samantha Power
PERSON
Michigan
LOCATION