upgrades DXNS LN GS upgrades MC FP, BEREN initiates CPI LN (b), BEREN upgrades ITK LN & initiates BAB LN (b) Citi initiates TRELB SS (b) & upgrades PNN LN, BEREN initiates SRP LN (h), MS cuts BZU IM Reporting Pre-Open: GCO, JOUT, SBLK, SOL, UNFI Economic Data: Personal Income & Spending @ 8:30am, NAPM

KGH PW, ADN LN ••• GS downgrade AV/ LN, AGN NA, CS downgrade URKA LI, ICL IT ••• Citi downgrade URKA LI, SDF GY, names SSE LN least pref — replace PNN LN ••• DBK downgrade NXT LN, upgrade IN LN, PWTN SW, MAQ downgrade DSV DC, SDF GY • Mirabaud upgrade ABI BB, RBC downgrade STHR LN, Investec upgrade G