5.88 7.08 7.55 7.90 8.20 8.60 Shares 0/S (mn) 769 Bloomberg EPS FY (5) 4.51 5.01 6.74 - 7.32 - 8.17 Source: Company data, Bloomberg. M. Morgan estimates. Our EPS estimates for Boeing are consistent with the company's core EPS, which excludes certain pension and post-retiement expenses. GAAP

0.85 0.38 O4 (Dec) 0.90 0.36 FY 3.09 1. 0.62 0.52 0.83 0.24 2.21 0.39A 0.53 0.69 0.68 2.27 3.05 Source: Company data. Bloomberg. M. Morgan estimates. North America Equity Research 18 June 2014 Health Net J.P.Morgan Investment Thesis, Valuation and Risks Health Net (Neutral; Price T

.44% 4.4% 9.0% Rd -OA% 4.2% 1.0% -15% See page 16 for analyst certification and Important disclosures, Including non-US analyst disclosures. M. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a confli

NPT). NPT serves as the sponsoring public charity fathe donor advised fund accounts and is the third largest such DAF sponsor in the United States. M. Morgan is currently about 40% of NPT's book of business. o NPT currently provides administrative support for contributions, grants, web access, & educatio

ide. Risks: • Inflation stabilizes or moderates earlier than expected. • Government currency intervention. Implementation: • Please call your M. Morgan representative for options on trading the RMB. thine 2% Source: . n vs. FX A . . retied • Ar . 00 '02 '04 '06 '08 —Chinese CPI —YoY%Chg i

l Bovespa 62632 7.5% Hang Sang Shanghai SE 2277 52% 'Levels as of Dec 31. 2012/returns as of Jan 3.2012 Local twenty except MSCI EM S &vice: M. Morgan 1459 16.0% 3105 16.6% 889 20.9% 6047 10.0% 1083 18.6% 23331 27.6% 1.8 1.8 1.8 1.75 1.75 US Europe Sector Allocation 2012 2012

e: 660.05 01 October 2015 MRK. MRK US Ovenveighl Price: 549.37 01 October 2015 See page 2 for analyst certification and important disclosures. M. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the flail may have a confl

he East) lad. Seoul branch. Rand Member 10.3011. topyrizte 2012 .1Plihavan Chase Co_ All rights retrial Adiiiuorui intoiniation avallabk upon regant_ M. Morgan ('JPM') is the global brand name for E. Morgan Securities LLC ("JPMS") and its affiliates worldwide... Morgan Cazenove is a marketing name for the U

he Zwim fund was imposing on other investors. 5. IN early 05, Highbridge began to withdraw its managed account with Mr. Zwim at the direction of M. Morgan. In early oct 05 mr epstein was notified that there had been irregularities at the firm.. He immediately demanded a full withdrawal. Mr Dubin , as

lants. Louis Lewin, Park Street Press, Rochester, Vermont, 1998 (First published in 1924) Indole(ethyl)amine N-methyltransferase in the human brain. M. Morgan (Poth) and A. J. Mandell, Science 165:492-493, 1969 Enzymatic formation of tetrahydro-beta-barboline from tryptamine and 5- methitetrahydrofolic aci