rie downgrades SUSS ••• Susquehanna initiates XRX (pos), UBS upgrades CIEN (buy), CLSA upgrades AAPL (buy) Europe Key Research: ••• Bofa initiates GMS LN (buy), Exane BNP downgrades ML FP/CA FP/CO FP ••• ING downgrades ARCAD NA, JPM upgrades TKAAV/NCSP LN & downgrades AFLT RU ••• Natixis upgrades MTU

• Kepler upgrades ZOT SM & cuts ROVI SM & reinstates SCYR SM (buy) and FCC SM (reduce) • Canaccord cuts SYR LN (sell) & upgrades ABC LN & initiates GMS LN (buy), Berenberg upgrades LEI GR (buy) Reporting Post-Close: MY, SHLM, TISI, ZEP Economic Data: Consumer Credit @ 3pm Fed Speakers: Bullard @ 11:4