CNC/MNI • CLSA downgrades DELL & upgrades CHD, Raja downgrades CCOI, Baird initiates FINL (neut) • Nomura initiates CMAIFITB/HBAN/KEY (neuts) & WFC/USB/PNC/RF (buys), Janney initiates INTU (buy) ••• Evercore downgrades GGP, BB&T downgrades KNL, BMO initiates THO (op) Europe Key Research: ••• BofAML +ve I