downgrades BAYN GR/SHP LN/GSK LN/PGHN SW, Barcap downgrades ALV GRIHNR1 GR/MUV2 GR/PHNX LN & upgrades UNI IM • Berenberg initiates REE SM (buy) and ENG SM (hold), Cantor initiates ADN LN/ASHM LN/SDR LN/ARP LN (buy) and HGG LN (hold) ▪ Commerzbank upgrades HENS GR/OR FP (buy), CS downgrades MPI LN/EXPN

B, Longbow cuts MOLX ••• 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 downgrad

ngrade LMI LN, upgrade DNB NO, ARM LN, JPM upgrade SLHN VX, downgrade UBM LN, OUT1V FH • Citi downgrade ENI IM, MS upgrade ALU FP, GAS SM, downgrade ENG SM, DB upgrade G1A GY, RI FP, RCO FP EFTA00396067 • Numis upgrade ASHM LN, RAT LN, NVA LN, downgrade POLR LN, SocGen upgrade AKBNK TI, downgrade TRN

ment - AMAT workforce restructuring HMAY guidance light - VC cfo resignation - JAKK new credit agreement Secondaries (announced/priced): STWD, BWP, ENG SM IPO's (filed/priced): Berry Plastics Group (BERY) 29.4M-shares priced at $16 Key Research: DB initiates LAMR (buy) & downgrades ECA (sell) & lowers