Events Desk (212) 884-8096

WEDNESDAY 10-30-2013
p. 1 of 5

Alerts For Today Publish Time 7:15AM

**US FUTURES: (S&P +4.25, DJI +46, NDX +14.8, 10 Year Treasury Yield 2.48%, +4/32). European markets are higher rising to a 5 year high. Asian markets closed higher. Gold is Higher. Oil is Lower. Copper climbing for a 5th day. The US $ is Lower vs. Pound; Higher vs. Yen; Lower vs. Euro.

**KEY NEWS: MBA Mortgage Applications for w/e 10/25 +6.4% v -0.6% prior, refis +9.0% vs. -1.0% prior; BA said to be in talks with Emirates, Etihad, Qatar, Cathay Pacific for up to 255 units of 777x model; nears deal of $87B (financial press). JAPAN: government raises assessment for industrial output; industrial production returns to growth in September (1.5% vs. 1.8%e). NEW ZEALAND: falls on reports Moody's considered a sovereign rating cut. CHINA: 7-day repo rate rises by over 55bps to near 5.6% (highest since late June), 1-day repo rate up about 60bps. GERMANY: unemployment rises for the third straight month while its inflation moves to negative territory on a monthly basis; October Unemployment Change: +2K v 0Ke; Unemployment Rate: 6.9% v 6.9%e.

**M & A NEWS: Honda Motor Co. Ltd.: Nidec to acquire Honda's electronic parts business for about 50B. Deutsche Bank AG KBG and RHJI to acquire company's BHF-Bank unit for 354M in cash and stock.

**IN THE RAGS/ONLINE: NYT: Nations top spymaster says White House had long been aware in general terms of the NSAs overseas eavesdropping, defending its methods and hinting at divisions within the Obama administration; WSJ: In deal with federal prosecutors to be announced next week, SAC Capital will plead guilty to securities fraud as part of criminal insider-trading settlement, firm will stop managing outside money and pay $1.2B in penalties; NY Post: Russian operatives gave goodie bags to world powers at the G20 summit with USB drives and phone chargers, but they were Trojan Horses designed to download info and send it to spies; All Things Digital: Sources say INTC may be close to a deal to hand over to VZ control of Intel Media, which has been trying to build a Web-based subscription TV service; Bloomberg: RBS reviewing how it trades in the minutes before key foreign exchange benchmarks are set amid a regulatory probe into possible manipulation of the $5.3 trillion-a-day market. **EARNINGS OUT THIS AM (VS CONSENSUS): ACCO (-.08), AIT (-.08), BAH (+.10, adj.), CDI (+.01), EGN (-.11, adj.), CMCSA (+.05), GRMN (+.09), INGR (-.15), JNY (+.07), LFUS (+.06, adj.), LPLA (+.05, adj.), PES (+.04), PX (-.01, adj.), SAVE (+.10, adj.), SPW (+.02), STE (In-Line, adj.), TEL (+.03, adj.), TFX (-.10), VSB (-.06).

**KEY ECONOMICS: 8:15AM: ADP National Employment Index (October); 8:30AM: CPI/ CPI Ex-Food Energy (September); 8:30AM: Real Earnings (September); 11:30AM: Cleveland Fed CPI (September); 1:00PM: Treasury hosts a $29B 7 Year Note Auction.

**MONETARY POLICY: 9:30AM: FOMC CONCLUDES A TWO-DAY MONETARY POLICY MEETING WITH 2:00PM: INTEREST RATE DECISION. 4:00PM: Reserve Bank of New Zealand. Central Bank of Egypt.

**KEY EVENTS TO WATCH: 9:30AM: CFTC holds an Open Meeting to Consider Enhancing Protections for Futures Customers and Other Business. 10:00AM: The 29 members of the Budget conference committee hold their first meeting. The Committee faces a 12/13 deadline for coming up with a report of recommendations for the full House and Senate. 3:55PM: President Obama delivers remarks on the importance of providing all Americans with quality, affordable health insurance and the experience in Massachusetts.

**KEY INDUSTRY RELEASES: 8:30AM: INTU releases Small Business Employment Index for September; 10:30AM: E.I.A. releases weekly Natural Gas Inventories.

**IN CONGRESS: 9:00AM: House Energy & Commerce Subcommittee on Energy hearing on PPACA Implementation Failures: Answers from HHS with testimony from HHS Secretary Kathleen Sebelius; 11:00AM: Senate Finance Committee hearing on the Transatlantic Trade & Investment Partnership - Achieving the Potential with FDX COO Michael Ducker, Lilly Bio-Medicines; 1:00PM: House/Senate Agriculture Committees joint business meeting to discuss H.R. 2642, The Federal Agriculture Reform and Risk Management Act of 2013

**CONFERENCES: World Federation of Exchanges 53rd General Assembly, Mexico City; Economist The Buttonwood Gathering 2013, NYC; International Economic Forum of the Americas Annual Meeting, Toronto; ARMH Developer Summit at TechCon, Santa Clara

**ANALYST MEETINGS: AAT, JBL, KR, MAT, Novozymes A/S (NZYMB.DE) (Italy), TGT.

**COMPANY UPDATES: BCYP (business update), ETHT (Press/Media National Telephonic call), NSPR (MASTER trial 12-month follow up data).

**ANNUAL MEETINGS: STX.

**KEY ANALYST ACTIONS: UPGRADES: BIDU (BB&T), BP (Societe Generale), FB (BTIG), KO (BCS), NKE (MS), TRI (RBC), XYL (Brean).DOWNGRADES: AMBA (MS), BBBY (Canaccord), CRUS (BCS), DLR (RJF), EW (JPM), SNDK (Tier1), WSH (Tier1), X (DB).

**IN AFTER HOURS TRADING. HIGHER: On Earnings: BWLD (raises forecast), DWA, LOCK, FALC, BIDU, TRLA, EA, CBG; Volkswagen; Others: NSPR (trial results), ARIA (holder Sarissa seeks board representation); LOWER: On Earnings: INVN, WU, IACI, SFLY, YELP, QCOR, CALX, SIMG, MX, LNKD, XCO, CZR, HTS, GNW, CRUS; Others: AMRN (FDA rescinds ANCHOR trial SPA)

Events Desk (212) 884-8096

WEDNESDAY 10-30-2013
p. 2 of 5
on the topic "America's Promise in Uncertain Times" to the Economic Club of Canada. 2:30PM: 2014 Canadian Drilling Activity Forecast and Industry Outlook. IN CENTRAL AND SOUTH AMERICA Brazil: FGV Inflation IGPM MoM/ YoY; PPI Manufacturing MoM/ YoY; INDICES RELEASES EXPECTED WEEKLY ENERGY: 10:30AM: E.I.A. publishes petroleum inventory #s; and at 1:00PM: publishes heating oil, propane residential and wholesale price data report FINANCIAL SERVICES: Investor's Intelligence publishes market advisors sentiment survey; iMoneyNet publishes mutual fund flows. HOTEL/ GAMING: Smith Travel Research publishes Revpar #'s; West Virginia Lottery publishes slot revenue #'s. MEDIA/ ENTERTAINMENT: RENT publishes video rental spending #'s; AC Nielsen publishes US music sales #'s. PAPER/ FOREST PRODUCTS: Engineered Wood Products Association publishes OSB/Plywood order #'s. MONTHLY AIRLINES: Qantas (QAN.AU) releases air traffic #'s. ENERGY: Petroleo Brasileiro S.A. (PBR) releases oil and natural gas production #'s; E.I.A. publishes petroleum supply; E.I.A. publishes final Company Level Imports; A.P.I. publishes natural gas liquids and liquified refining gases inventory #'s FINANCIAL SERVICES 8:30AM: INTU releases Small Business Employment Index for September; Fannie Mae (FNMA) monthly summary report including year-todate activities for gross mortgage portfolio, mortgagebacked securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications for September; AMG Data Services publishes mutual fund inflow #'s and outflow #'s; I.C.I. publishes mutual fund flows; CLMS Closed-End Funds (CHI, CHY, CSQ, CGO and CHW) announce monthly distribution for November. FOOD/ BEVERAGE: National Alcohol Beverage Control Association publishes spirits sales #'s in controlled states recap report. HEALTHCARE: NDC Health releases integrated dollar #'s on pharmaceuticals; IMS Health releases pharmaceutical dollar sales#'s for September. INTERNET: ComScore releases US domain traffic #'s and mobile internet usage for September. REAL ESTATE: Radar Logic Inc. releases the RPX Monthly Housing Market Report for August. RETAIL SALES: PSMT releases warehouse sales #'s (with earnings). TECHNOLOGY: I.P.C. publishes IMS/PCB (Interconnect manufacturing services/Printed circuit board) Bookto-Bill for August. TELECOM: Indian Telecom Service Providers publishes wireless subscribers #'s. TRANSPORTATION: Bureau of Transportation Statistics publishes North American surface freight #'s for August QUARTERLY ENERGY: American Fuel and Petrochemical Manufacturers publishes petrochemical production #'s and inventory #'s for Q3. FINANCIAL SERVICES: Mortgage Bankers Association publishes Q3 commercial/multifamily mortgage loan originations. REAL ESTATE: EXP releases order #'s (with earnings). RETAIL SALES: TUES. TECHNOLOGY: CSC releases bookings #'s (with earnings), NANX releases sales #'s (with earnings); TELECOM: CMCSA reports subscriber #'s (with earnings) MACRO CONFERENCES (EDT) 10/28-10/30: African Development Bank African Economic Conference 2013, Johannesburg, South Africa. Meeting of African leeaders and scholars to discuss regional integration as key to Africas continuing growth and development, focusing on how the continent can work together to promote sustainable growth and regional stability. 10/29-10/30: Economist The Buttonwood Gathering 2013, Grand Hyatt, NYC. 8:30AM: Central Banks - The Lords of Central Banking. Speakers: MS Chief US Economist Vincent Reinhart, PIMCO CEO Mohamed El-Erian. 9:00AM: New Rules of Finance - Regulatory Impact. Speakers: former SEC Chair Mary Jo Schapiro, Millstein & Co. 9:30AM: Japans New Path - Beating Deflation Once & For All. Speakers: S&P, academic. 10:30AM: Bubble Economy - Hot Market Concerns. Speakers: Nomura Chief US Economist Lewis Alexander, academic. 11:00AM: Emerging Markets. Speaker: Bank of Mexico Governor Agustin Carstens. 11:30AM: Economic Outlook. Speaker: Greenspan Associates LLC President Alan Greenspan. 1:30PM: Fiscal Priorities - Competing Imperatives of Growth and Reducing Debt. Speakers: TIAA-CREF CEO Roger Ferguson, academics. 2:00PM: Dysfunction in D.C. - Immediate and future fiscal implications. Speakers: S&P, business editors. 2:45PM: Goldman versus Google: A career on Wall Street or in Silicon Valley? Speakers: academics. 3:45PM: New economics of trade - International trade and investment today. Speaker: US Trade Rep. Michael Froman. 4:00PM: Looking Inward - De-globalisation in Trade & Finance. Speakers: McKinsey Principal Susan Lund, RBC Capital Co-CEO Mark Standish. 4:30PM: The Next Silicon Valley - Start-Up Revolution. Speakers: Greycroft LLC Founder Alan Patricof, NYC Economic Development Corp. President Kyle Kimball, Karmaloop Founder of Future Boston Alliance Greg Selko. 10/29-10/30: Economist The Ghana Summit -Turning

Broker Meetings
DEALS EXPECTED 58.com (WUBA) (IPO) MS/CS/Citigroup (between $13$15) Essent Group Ltd. (ESNT) (IPO) Goldman Sachs/JPM (between $13.50-$15.50) Marcus & Millichap (MMI) (IPO) Citigroup/GS (between $14-$16) Mazor Robotics (MZOR) (2ndary) Barclays/Ladenburg/ JMP NEW YORK EVENTS Management Lunches: CL, Morgan Stanley. KPN, at Bernstein. 1on1s: BDSI, Roth Capital. C3 Jian, Jefferies. DataTec, Jefferies. EDU, Morgan Stanley. GERN, Piper Jaffray. GSVC, Oppenheimer. LNN, Piper Jaffray. Orion, BAC-ML. Skandinaviska Enskilda Banken AB, RBC Capital. UPS, BAC-ML. Analyst Dinners: Robin Bienenstock (European/LatAm Telecoms) at Bernstein. Lasser/Meyer/Binetti (retail) Ideas UBS. BOSTON EVENTS Management Lunches: HIG, Drexel Hamilton. 1 on 1s: Daimler AG, JP Morgan. Gazprom OAO, Goldman Sachs. KPN, Bernstein. St. James Place plc, BAC-ML. Tullow, Morgan Stanley. Analyst Lunches: Marc Goodman (pharma) UBS. Yosuke Ohata (Japan real estate) UBS. Guillaume van Renterghem (European biotech) UBS. OTHER US EVENTS 1 on 1s: Bank Tabungan Pensiunan Nasional Tbk PT, Jefferies, Princeton. CA, Jefferies, Philadelphia/Wilmington/Baltimore. DTLK, Needham, San Francisco. Meggitt, BAC-ML, Philadelphia. Nestle, Morgan Stanley, Los Angeles/Denver. NVS, Knight Capital, Baltimore. PLXS, Needham, MidAtlantic. RTL Group, Morgan Stanley, Chicago. SBNY, Oppenheimer, Houston. St. Jamess Place plc, JPM, Chicago. STT, Jefferies, Los Angeles. XOOM, Needham, San Diego/Los Angeles. INTERNATIONAL EVENTS 1 on 1s: Abyd Karmali, BAC-ML, London. CVE, RBC Capital, Montreal. Heineken, BAC-ML, Beijing. Home Retail Group, BAC-ML, London. Metso OYJ, Berenberg, London. Orange plc, BAC-ML, Dublin. Regus plc, RBC Capital, London. Turk Telecom, Credit Suisse, London. Analyst Lunches: Edward Houghton/Linda Sun-Mattison (European/Asian insurance) PRU vs. AIA Bernstein, London. FIELD TRIPS Roche (Genentech Campus), Knight Capital, San Francisco.

as peace, security, and human rights, are among the issues to be discussed. (Wednesday - Friday) Angola President Jose Eduardo dos Santos presents draft 2014 budget in parliament. Focus to be on economic growth, oil production and inflation targets, also on spending plans for infrastructure, social sector and non-oil industries. ECB Vice President Vitor Constancio speaks at a conference on the topic "Retail Banking: Key to Unlocking the Full Potential of Europe's Real Economy", organised by European Savings and Retail Banking Group. ECB Executive Board member Joerg Asmussen speaks at an event organised by the Robert Bosch Foundation about the future of the euro zone in Stuttgart. 10/29-10/30: Nordic Foreign Ministers Meet in conjunction with the Nordic Council's 65th session in Oslo. Sweden Minister for Foreign Affairs Carl Bildt will be attending. 10/29-10/30: Russian Foreign Minister Sergei Lavrov visits Greece for talks on Russian-EU relations and the situation in Syria. ECB Governing Council member and Bundesbank President Jens Weidmann gives a speech at an event in Darmstadt on "The institutional and economical challenges of the sovereign debt crisis". OMFIF holds a Golden Series lecture on "Portugal: Progress on financial stability". With a lecture delivered by Bank of Portugal Governor Carlos da Silva Costa. Bank of Italy Governor Ignazio Visco and Economy Minister Fabrizio Saccomanni attend a conference during "World Savings Day" in Rome. Spanish Foreign Minister Jose Manuel Garcia-Margallo will meet Estonia Foreign Minister Urmas Paet and give a joint press conference at the Estonian Ministry of Foreign Affairs. Amnesty International launches a report: Double Standards: Italys housing policies discriminate against Roma. The document addresses the failure of the government to ensure equal access to adequate housing, in breach of international human rights law and EU anti-discrimination legislation. German Chancellor Merkel CSU/CDU holds coalition talks with SPD Japan PM Abe in Turkey. EU's Barnier at event in Brussels. German Bundesbank member Nagel in London. 10/30-10/31: Eurogroup President and Netherlands Finance Minister Jeroen Dijsselbloem visits Latvia. 10/30-10/31: Meeting of the Visegrad Group (Czech Republic, Hungary, Poland and Slovakia) and the Western Balkans countries. Foreign Ministers of Lithuania, Turkey will attend ECONOMIC RELEASES: 03:00EDT/08:00GMT Swiss Sept UBS Consumption Indicator; 04:00EDT/09:00GMT German State of Saxony Oct CPI; 04:00EDT/09:00GMT Spain Q3 Preliminary GDP; 04:00EDT/09:00GMT Swiss Oct KOF Leading Indicatorl; 04:00EDT/09:00GMT Spain Oct Preliminary CPI; CPI EU Harmonized; 04:10EDT/09:10GMT Austria Sept PPI; 04:30EDT/09:30GMT Sweden Aug Wages Non-Manual Workers; 04:55EDT/09:55GMT Germany Oct Unemployment Change (000's); Unemployment Rate; 05:00EDT/10:00GMT Iceland Q3 Unemployment Change; 05:00EDT/10:00GMT German State of Brandenburg Oct CPI; State of Hesse Oct CPI; 05:00EDT/10:00GMT Norway Aug Unemployment Rate AKU; Sept Retail Sales w/Auto Fuel; 05:30EDT/10:30GMT Portugal Oct Consumer Confidence Index; Oct Economic Climate Indicator; 05:30EDT/10:30GMT UK Oct Lloyds Business Barometer; 06:00EDT/11:00GMT EU Oct Business Climate Indicator; Oct Final Consumer Confidence; Oct Economic Confidence; Industrial Confidence; Services Confidence; 07:00EDT/12:00GMT German State of Bavaria Oct CPI; 07:00EDT/12:00GMT Portugal Sept Industrial Production; Sept Retail Sales; 09:00EDT/14:00GMT Germany Oct Preliminary CPI; CPI EU Harmonized; 10:00EDT/15:00GMT Belgium Q3 Preliminary GDP; 20:05EDT/01:05GMT(10/31) UK Oct GfK Consumer Confidence; TBD German State of Baden Wuerttemberg Oct CPI; State of North Rhine Westphalia Oct CPI; TBD Belgium Oct CPI. FIXED INCOME: 04:00EDT/09:00GMT ECB calls for bids in 7-Day USD Liquidity Tender; 04:30EDT/09:30GMT Denmark to sell Bills; 05:30EDT/10:30GMT Hungary Central Bank to sell Bills; 06:00EDT/11:00GMT ECB Announces Allotment in 7-Day USD Liquidity Tender; 06:00EDT/11:00GMT EU Daily Euribor Fixing; 06:00EDT/11:00GMT Italy Debt Agency (Tesoro) to sell Bonds; 06:00EDT/11:00GMT Sweden to sell Bonds; 06:30EDT/11:30GMT Germany to sell 4.0B in 2% 2023 bund; 06:30EDT/11:30GMT Hungary to buy back Bonds; 08:00EDT/13:00GMT Russia to sell OFZ Bonds. IN THE PACIFIC RIM 10/30-11/1: Australia hosts the 13th Council of Ministers Meeting of the Indian Ocean Rim Association for Regional Cooperation in Perth. Former International Monetary Fund Managing Director Dominique Strauss-Kahn visits Seoul to attend an economic forum to be hosted by the Institute for Global Economics. MONETARY POLICY MEETING: Reserve Bank of New Zealand. IN THE MIDDLE EAST MONETARY POLICY MEETING: Central Bank of Egypt. IN CANADA 11:45AM: Former Florida Governor Jeb Bush speaks

Todays Focus
9:30AM: FOMC CONCLUDES A TWO-DAY MONETARY POLICY MEETING WITH A 2:00PM: RATE DECISION. (NO PRESS CONFERENCE) US ECONOMICS 7:00AM: MBA Mortgage Applications Refinancing Index and Applications for Home Purchase Mortgages (w/e 10/25). Last Reading: Mortgage Applications: -0.6%; Refinancing Index: -1%. 8:15AM: ADP National Employment Index (October). Consensus Estimate: +150,000 vs. +166,000. 8:30AM: CPI (September). Consensus Estimate: +0.2% vs. +0.1%. CPI Y/Y. Consensus Estimate: +1.2% vs. +1.5%. Ex Food/Energy. Consensus Estimate: +0.2% vs. +0.1%. Ex Food/ Energy Y/Y. Consensus Estimate: +1.8% vs. +1.8%. CPI Index Level NSA. Consensus Estimate: 234.22 vs. 233.877. 8:30AM: Real Earnings (September). Consensus Estimate:+0.2% vs. +0.4%. 11:30AM: Cleveland Fed CPI (September). Last Reading: +0.2%. AUCTIONS/FED ACTIONS 1:00PM: Treasury hosts a $29B 7 Year Note Auction. IN EUROPE External Parliamentary Activities Week. European Parliament - Political Meetings. USA/UN: eight MEPs from the Foreign Affairs Committee and the Human Rights Sub-committee will go to New York City to take part in the UN General Assembly and meet UN Secretary General Ban Ki-moon and UN General Assembly President John Ashe. The role of the EU at the UN and cooperation with the UN in fields such

Events Desk (212) 884-8096

Potential into Opportunity, Accra. Meeting of African economic leaders & economists discuss Africas recent economic surge thats fueling optimism about the continents prospects and positioning it in the minds of many investors and businesses as a significant opportunity. 10/30-10/31: International Economic Forum of the Americas Annual Meeting, Toronto. 8:30AM: Recalibrating the Global Economy: A Working Roadmap for Future Generations. Speakers: Sun Life Financial CIO Stephen Peacher, Dow Jones CEO Lex Fenwick, Northern Trust CEO Frederick Waddell, MA Vice Chairman Walt Macnee, OECD Deputy Secretary General Pier Carlo Padoan. 10:30AM: 1) Financial Services and the Digital Frontier: Embracing Mobility. Speakers: STT, Fitch Ratings, Aimia, JPM. 2) Competitive Urban Economies: Tomorrows Drivers of Growth. Speakers: CSCO Canada, IBM Canada, Tur Partners, NASCAR. 3) Rethinking Financial Literacy: The Global Rise of First Time Consumers. Speakers: Visa Canada, the CFPB, Financial Consumer Agency of Canada. 4) Doing Business with Russia. Speakers: Bombardier Aerospace, CERBO Toronto, Kinross Gold. 12:00PM: Is the European Union on the Path to a Sustainable Recovery? Speakers: Aecon Group CEO John Beck, Toronto Financial Services Alliance Deputy Chairman Douglas Turnbull, Aimia CEO Vince Timpano, former ECB President Jean-Claude Trichet. 3:00PM: Entering a Manufacturing Renaissance: Towards a New Era of Productivity. Speakers: 32 Advisors CEO Robert Wolf, Bank of China CEO Lijun Wang, DDD CEO Abraham Reichental. 4:30PM: Beyond the Doha Round: The Next Generation of Free Trade Agreements. Speakers: F Director Micheal Sheridan, PortMiami Director Bill Johnson, Asian Development Bank Institute. 10/28-10/30: Reuters Middle East Investment Summit, Abu Dhabi. Speakers: Arabtec CEO Ziad Makhzoumi, Abraaj Capital, Mashreq Capital, Algebra Capital, Nasdaq Dubai, Gulf Bank, Egypt PM Ahmed Nazif, Citadel Capital, Shuaa Capital, SODIC, HSBC, Lebanon Finance Minister Raya Hassan, Sorouh Real Estate, Jadwa Investments, Global Investment House, Securities Group, Mobily, Invest AD, CI Capital Holdings, Saudi Arabia Electricity Organisation. 10/29-10/30: World Federation of Exchanges 53rd General Assembly, Mexico City, Mexico. 10:00AM: Keynote: Mexico Finance Minister Luis Videgaray. 11:00AM: Emergence of LatAm as a Regional Player. Speakers: ProMexico, US Treasury International Economist Office, Colombia Stock Exchange Chairman Juan Pablo Cordoba, former Chile Finance Secretary Nicolas Eyzaguirre. 12:15PM: Changing the face of derivatives markets. Speakers: academics. IN CONGRESS HEARINGS: AG REFORM: 1:00PM: House/Senate Agriculture Committees joint business meeting to discuss H.R. 2642, The Federal Agriculture Reform and Risk Management Act of 2013. BUDGET: 10:00AM: Joint Conference Committee meeting to discuss S.Con.Res.8, a concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2014, revising the appropriate budgetary levels for fiscal year 2013, and setting forth the appropriate budgetary levels for fiscal years 2015 through 2023. OBAMACARE: 9:00AM: House Energy & Commerce Subcommittee on Energy hearing on PPACA Implementation Failures: Answers from HHS with testimony from HHS Secretary Kathleen Sebelius. JOBS: 10:00AM: Senate Banking Subcommittee on Securities hearing on the JOBS Act at a year & a half, focusing on assessing progress & unmet opportunities. TRADE: 11:00AM: Senate Finance Committee hearing on the Transatlantic Trade & Investment Partnership - Achieving the Potential with FDX COO Michael Ducker, Lilly Bio-Medicines, National Chicken Council. CYBERSECURITY: 9:00AM: House Homeland Security Joint Subcommittee hearing on Cyber Incident Response: Bridging the Gap Between Cybersecurity and Emergency Management. FEDERAL REGULATORY MEETINGS 9:30AM: CFTC holds an Open Meeting to Consider Enhancing Protections for Futures Customers and Other Business. #866- 844-9416. 1:30PM: FDIC Board Meeting. Memorandum and resolution re: Notice of Proposed Rulemaking to Implement Liquidity Risk Standards for Certain FDIC Supervised Institutions. OBAMA ADMINISTRATION 8:30AM: Vice President Biden meets with Iraqi PM Nouri al-Maliki; at 3:00PM: delivers remarks in Austin, TX; and at 4:30PM: attends DNC event at private Austin residence. 11:15AM: President Obama meets with Lew; at 3:55PM: delivers remarks on the importance of providing all Americans with quality, affordable health insurance and the experience in Massachusetts; and at 5:35PM: delivers remarks at a DCCC event. Attorney General Eric Holder is In Morocco to attend the second annual Arab Forum on Asset Recovery (AFAR) and hold bilateral meetings with law enforcement counterparts. WASHINGTON EVENTS 8:00AM: Politico hosts a discussion with emerging leaders who will influence the future of U.S. health policy. 8:00AM: Robinhoodtax.org holds events to promote a Financial Transaction Tax on Wall Street trades to increase federal revenues. 9:00AM: The Bipartisan Policy Center and INTC hold a forum on "The Innovation Economy: Information Revolution - A Policy Forum on the Use of Big Data in Homeland Security." 10:00AM: The 29 members of the Budget conference committee hold their first meeting. The Committee faces a 12/13 deadline for coming up with a report of recommendations for the full House and Senate. 3:45PM: The Atlantic Council holds a discussion on "US Strategy in a World of Transition." UN GENERAL ASSEMBLY PLENARY AND RELATED MEETINGS 1) By-election to fill vacancies resulting from four members from the Western European and other States relinquishing their seats in the Economic and Social Council. 2) Election of seven members of the Committee for Programme and Coordination. 3) Election of eighteen members of the Economic and Social Council COMPANY EVENTS IN EUROPE Novozymes A/S (NZYMB.DE) hosts Capital Markets Day, Turin, Italy IN CANADA 1:00PM: TGT hosts Investor Meeting, Toronto, Ontario. IN THE US S: hosts an event for a small group of investors, analysts and journalists to offer the first look at the new wireless network technology touted by its new owner, Softbank, Silicon Valley 8:30AM: NSPR hosts call to discuss its MASTER trial 12-month follow up data. #877-842-0788, Int'l: #317468-2947, id=90920442. 9:30AM: KR hosts analyst meeting, NYSE, NYC. 9:30AM: JBL hosts analyst meeting to showcase Nypro, Boston, MA 10:00AM: MAT hosts analyst meeting with CEO Bryan Stockton and CFO Kevin Farr, Sofitel, NYC. 12:30PM: ETHT hosts Press/Media National Telephonic call. #800-311-9402, id=33106. 4:30PM: BCYP hosts business update call. US: #877941-4775; Int'l: #480-629-9761 pw=4645900 5:00PM: AAT hosts Investor Day, Portland OR. OTHER M&A: MOLX / Koch Industries EU provisional deadline due ANNUAL MEETINGS: 10:00AM: LEAP, Denver, Co. (special meeting re merger with T). 12:30PM: STX, Cupertino, CA. OTHER: CTRP, EFR.CA, ONP, XNY. IPO Lock-Up Expiration: QIWI. Quiet Period Expiration: BIND, MYCC, FEYE, FUEL. Stock Splits: NEOG: 3-2. BROKER SPONSORED CALLS REPLAY: Metals & Mining: UBS hosts call with analysts to discuss the sector's outlook. #954-334-0342, id=938193. 10:00AM: Unilever and Reckitt Benckiser: Our top picks in the European Food and HPC Group: Bernstein hosts call with analyst. #800-857-6777, pw=wood. 3:30PM: Immuno-Oncology Updates from World Lung: Leerink Swann hosts call with Weill Medical College of Cornell University Assoc. Professor of Medicine Dr. Naiyer Abbas Rizvi. #973-528-0045; id=901968.

WEDNESDAY 10-30-2013
p. 3 of 5
ings Group, CITIC Securities, CNOOC, Country Garden Holdings, E-Commerce China Dangdang, Evergrande Real Estate Group, Focus Media, Founder Securities, Kaisa Group Holdings, Mecox Lane, Peak Sports Products, Petrochina, Phoenix New Media, QIHU, QIYI.com, Samson Holdings, Shenzhou International Group, Shimao Property Holdings, Sihuan Pharma Holdings, SOHU, Sunac China Holdings, XRS, TAOM, Tenfu Cayman Holdings, Tingyi Cayman Islands Holding, Tsui Wah Holdings, Vipshop Holdings. 10/29-10/30: Credit Suisse October Hedge Fund Manager Forum, Sao Paulo. Meeting of Latin American hedge fund managers to discuss the outlook for investment. 10/30-10/31: Deutsche Bank Mexican Conference, London. Invite only. 10/30: NYSSA Life Sciences Conference, at NYSSA, NYC. 9:00AM: Outlook for Life Sciences. Speaker: Oppenheimer. 10:00AM: NBS. 10:45AM: Genspera. 11:15AM: DARA. 11:45AM: Provectus Pharma. 10/30: Sidoti Marketing Day, NYC. BROKER FIELD TRIPS (EDT) 10/28-10/30: Berenberg Industrials Trip, Germany. Meetings with: Continental AG, LPKF Laser & Electronics, Tom Tailor Holding AG, Jungheinrich AG, CTS Eventim AG, Pfeiffer Vacuum AG. 10/28-11/1: Jefferies Coal, Power & Materials Tour, Beijing/Shanxi/Anhui/Shanghai. INDUSTRY CONFERENCES (LOCAL) MEDICAL / PHARMA / HEALTHCARE 10/25-10/30: American College of Rheumatology Annual Meeting, San Diego. Meeting of rheumatology experts present new research in the field. Exhibitors: ABBV, AMGN, Actelion, Antares Pharma, BMY, CELG, Chugai Pharma, Crescendo Biosciences, EMD Serono, Fidia Pharma, FRX, Ferring Pharma, GE Healthcare, Genentech, Genzyme, GSK, HALO, Horizon Pharma, HOLX, HOSP, Inova Diagnostics, LPDX, LLY, medac pharma, NVS, PFE, QGEN, QCOR, QDEL, RGEN, SNY, Springer, Takeda, UCB, WCRX, ZMH. 10/26-10/31: American College of Chest Physicians CHEST 2013 Meeting, Chicago. Exhibitors include: Bayer, BSX, CFN, Cook Medical, CSL Behring, FRX, GE Healthcare, GILD, GSK, HOSP, ITMN, KND, Lumenis, Morgan Scientific, Nova Medical, Olympus America, MYL, PFE, Philips Healthcare, RMD, Siemens Healthcare, Sunovion, TEVA, TMO, UTHR, TMO, UTX, VIDA Diagnostics. 10/29-10/30: BioCentury SciBX Summit on Innovation in Drug Discovery & Development 2013, Boston. 9:00AM: 1) Non-coding RNAs as tools and targets. Speakers: ALNY, RaNA Therapeutics, miRagen Therapeutics, MRK. 2) New models in neurological disease. Speakers: BIIB, PsychoGenetics, One Mind. 2:00PM: 1) CAR-based cellular therapies. Speakers: CELG, Atlas Ventures, Adaptimunne, Kite Pharma. 2) Epigenetics second wind. Speakers: Constellation Pharma, Atlas Venture, EPZM, GSK, Karus Therapeutics, Zenith Epigentics Corp. 10/27-11/1: Cardiovascular Research Foundation Annual Conference, San Francisco. 7:00AM: ABMD: The Science and Benefit of Hemodynamic Support. Cordis (JNJ): Renal Sympathetic Denervation: Advancing Innovations in Open-Irrigated Catheter Ablation. Terumo: Vascular Access Across the Interventional Armamentarium: Optimal Safety and Success Through Novel Technologies. 12:30PM: Direct Flow Medical: The Direct Flow Medical Transcatheter Aortic Valve System: Innovation for Improving Outcomes in TAVR. MDCO: Challenges and Controversies in Elective PCI: Does There Have to Be a Trade-Off Between Outcomes and Cost? 7:00PM: ABT/AZN: Issues with DAPT: A Case-Based Roundtable with the Experts. BSX: Advancing Science for Life. Real Stories. Real Innovation. Real Change. EW: The Efficient and Affordable TAVR Program. 10/27-10/30: International Association for the Study of Lung Cancer (IASLC) 15th World Conference on Lung Cancer, Sydney. 12:15PM: BMS: Perspectives in Lung Cancer: Is Immuno-Oncology the New Treatment Paradigm? TECHNOLOGY / TELECOM / MEDIA 10/29-10/30: MSG Focus Rich Communication 2013 , Berlin. Speakers: Deutsche Telekom, Telefonica, Mavenir Systems, Orange, BH Telecom. 10/28-10/30: OReilly Strata Conference & Hadoop World, Hilton Midtown, NYC. Meeting of big data developers to discuss the outlook for networked services and systems. 9:15AM: Encouraging You to Change the World with Big Data. Speaker: SAP. 9:40AM: The Big Data Journey: Taking a holistic approach. Speaker: IBM. 10:05AM: Beyond R and Ph.D.s: The Mythology of Data Science Debunked. Speaker: Zest Finance. 10/29-10/31: OTC Brasil Conference, Rio de Janeiro. Speakers: Banco do Brasil, First Reserve, BNDES Corp., RDS-B, Petrobras, CVX, XOM, Total, SBM Offshore, GE Oil, HAL, BHI, PEMEX, Saudi Aramco, Welltec, ELO Group, Logan Industries, Sondotecnica, Repsol, Norske Shell. 10/29-10/31: RSA Security Conference Europe, Amsterdam. 10:00AM: Data-Driven Security - Wheres the Data? Speaker: Qualys. 10:30AM: Security at the Greatest Show on Earth. Speaker: BT Security. 11:00AM: Survival Isnt Mandatory: Challenges and Opportunities of DevOps. Speaker: AKAM.

Conferences
BROKER (EDT) 10/29-10/30: Citigroup 5th Annual Australian Investment Conference, Sydney. 1-on-1s with: Industrials: Adelaide Brighton, Amcor, APA Group, Asciano, Boral, Brambles, Downer Group, DUET Group, Fletcher Building, Forge Group, James Hardie, Leighton Holdings, Macquarie Atlas Roads, Mermaid Marine Australia, Qantas, Sydney Airport, Telstra, Toll Holding, Transfield Services, Transurban, UGL Ltd. Energy/Resources: Atlas Iron, AWE Ltd., Beach Energy, Caltex Australia, Drill Search, Evolution Mining, Fortescue Metals Group, Gindalbie Metals, Horizon Oil, Karoon Gas, Kingsgate Consolidated, Origin Energy, Papillon Resources, Regis Resources, Roc Oil Co., Santos, Senex Energy, Sundance Energy. Consumer Related: Amcom, Cochlear, David Jones, Echo Entertainment, Fairfax, Goodman Fielder, iiNet, M2 Communications, Navitas, Patties Foods, Primary Health Care, RMD, Seven West Media, Sonic Healthcare, Specialty Fashion, Tabcorp Holdings, Ten Network, Woolworths. REITs: Abacus Property Group, CFS Retail Property Trust, Charter Hall Group, Charter Hall Retail, Commonwealth Property, DEXUS Property Group, Federation Centres, Goodman Group, GPT Group, Investa Property Group, Mirvac, SCA Property Group, Stockland, Westfield Retail Trust. Financials: AMP Ltd., ANZ, Bank of Queensland, Challenger Ltd., Commonwealth Bank of Australia, IOOF Holdings, Perpetual Ltd., Suncorp. 10/30-11/1: Credit Suisse China Investment Conference, Hong Kong. 1-on-1s with: VNET, Agile Property Holdings, Ajisen China, Anta Sports Products, AutoNavi, Bosideng International, China Everbright, China Galaxy Securities, China Lodging Group, China Medical Holding System, China Merchants Bank, China Molybdenum, China Oilfield Services, China Overseas Grand Oceans Group, China Overseas Land & Investment, China Petroleum & Chemical Corp., China Resources Gas Group, China Resources Land, China Shanshui Cement Group, China Telecom Corp., China Unicom Hong Kong, CIFI Hold-

Events Desk (212) 884-8096

10/29-10/30: UnleashWD Annual Innovation Summit, Chicago. Speakers: Zilliant, IBM. 10/29-10/30: Venturebeat GamesBeat2013, Redwood City, CA. 9:05AM: Windows 8: Window into obscurity or window of opportunity. Speakers: MSFT, Arkadium. 9:35AM: Is mobile vs console the right question? Speaker: former EA CEO John Riccitiello. 9:55AM: Facebooks evolving role in the game ecosystem. Speaker: FB. 10:45AM: Driving Game Value with Actionable Insights. Speaker: Wargaming. 10/28-10/30: WBR Research Mobile Shopping - The mCommerce Summit, Phoenix. Speakers: Lenovo, Dolce Hotels & Resorts, HotWire, JWN, AEO, Pizza Place, CBS, Forever 21, Kia Motors, Houston Texans. USER GROUP MEETINGS (EDT) 10/29-10/31: ARMH Developer Summit at TechCon, Santa Clara. Speakers: ARMH, Canonical, DSP Concepts, Unity Tech, ADSK. 10/29-10/30: Open Networking User Group, at JPM, NYC. 9:30AM: Software-Defined Networking. Speaker: Citigroup. 10:45AM: ONUG Open Networking Industry Requirements. Speakers: BAC, JPM, Fidelity Investments, C, UBS. 1:25PM: An Open and Centralized Approach to Visibility. Speaker: Gigamon. 1:50PM: Software Defined WANs McAfee Case Study. Speaker: Glue. 2:10PM: Open Networking Investment Implications. Speakers: ISI Group, JPM, Cowen, Robert Baird. 2:45PM: SDN Opportunities and Challenges in Content Providers, Public Cloud Operators, and Telcos. Speakers: Verizon Terremark, FB, CMCSA, Juda Group. 10/29-10/31: UBM Tech TechCon, Santa Clara. 9:00AM: Keynote: ARMH CEO Simon Segars. Other Speakers: MENT, XLNX, NATI, FSL, VSAT, NVDA, IBM, FSL, SNPS, ORCL. FINANCIAL 10/28-10/30: Association for Financial Professionals Annual Conference, Las Vegas. Meeting of finance professionals to discuss the increasing regulatory burden on the industry. ENERGY / CLIMATE 10/29-10/30: Gas to Liquids Conference, London. Speakers: BP, British Airways, Norton Rose. 10/30: Hart Energy Crude in Motion Conference, Houston. Speakers: MS, EEQ, Isis Energy, Rangeland Energy, Dakota Plains Holdings, UNP, GWR, Meritage Midstream, Howard Energy Partners, Bakken Oil Express. 10/28-10/30: SPE Intelligent Energy International Conference, Dubai. Speakers: Maersk Oil, SLB, Saudi Aramco, CSCO, RIG, APA. INDUSTRIAL / AEROSPACE / CONSTRUCTION 10/29-10/31: Smart Fabrics Europe Conference, Barcelona. Speakers: Vega Wearable Light, Arena Group, Philips, LG Chem. METALS / MINING / MINERALS 10/29-11/1: Mines & Money Australia, Melbourne. Speakers: Sprott US Holdings, Paradigm Securities, Denham Capital, Lion Selection Group, Evolution Mining, National Australia Bank, Evolution Mining, China Hanking, Sprott US Holdings, Oceanagold, Jinjiang Venture Capital, Hermes Pacific Capital. AG / FOOD / DAIRY / WATER 10/29-10/30: CropWorld Global Conference, Amsterdam. Speakers: Twiga Chemical Industrial, the IFC, Lindsay Irrigation, Balton CP, Bayer, Easton Water. HOSPITALITY / LODGING / REAL ESTATE 10/28-10/30: Mortgage Bankers Association Annual Convention, Washington, DC. 8:00AM: Lincoln Leadership: Succeeding in a Rapidly Changing and Stressful Environment. Speaker: Lincoln Leadership Institute at Gettysburg President Steven Wile members forecast on growth and inflation until FY2015. US: 7:30AM: Challenger, Gray & Christmas Job-Cut Report (October); 8:30AM: Initial Jobless Claims (w/e 10/26); 9:45AM: Bloomberg Consumer Comfort Index (w/e 10/25); 10:00AM: Chicago PMI (October); TBA: Dallas Fed PCE (September). AUCTIONS/FED ACTIONS: 11:00AM: NY Fed will Purchase Treasury Coupons in the 11/15/2024 02/15/2031 Maturity Range; 11:30AM: Treasury Announces a 3 & 6 Month Bill Auction EUROPE: 03:00EDT/08:00GMT Finland Aug Final Trade Balance; 03:45EDT/08:45GMT France Sept PPI; Sept Consumer Spending; 04:00EDT/09:00GMT Hungary Aug Final Trade Balance; Sept PPI; 05:00EDT/10:00GMT Iceland Sept Final Trade Balance; 05:00EDT/10:00GMT Italy Sept Preliminary Unemployment Rate; 05:00EDT/10:00GMT Czech Republic Sept Money Supply M2; 06:00EDT/11:00GMT Belgium Sept Unemployment Rate; 06:00EDT/11:00GMT Italy Oct Preliminary CPI NIC Incl Tobacco; CPI EU Harmonized; 06:00EDT/11:00GMT EU Sept Unemployment Rate; 06:00EDT/11:00GMT EU Oct CPI Estimate; Advance CPI Core; 07:00EDT/12:00GMT Ireland Oct Live Register Level SA; Live Register Monthly Change; Oct Unemployment Rate; 07:00EDT/12:00GMT Italy Sept PPI; 09:00EDT/14:00GMT Poland Oct NBP Inflation Expectations; TBD Spain Aug Current Account Balance; Aug Housing Permits; TBD Greece Aug Retail Sales. FIXED INCOME: 06:00EDT/11:00GMT EU Daily Euribor Fixing; 06:30EDT/11:30GMT Hungary Debt Agency (AKK) to sell Bonds; 07:00EDT/12:00GMT Czech Republic to sell Bills PACIFIC RIM: 01:00 Japan Sept Housing Starts; Annualized Housing Starts; Construction Orders; 03:30 Thailand Sept Trade Balance; Exports; Imports; 03:30 Thailand Sept BoP Current Account Balance; Overall Balance; 03:30 Thailand Sept Business Sentiment Index; 04:30 Hong Kong Sept Budget Balance HKD; 04:30 Hong Kong Sept Retail Sales Value; Retail Sales Volume; 05:00 Hong Kong Sept Money Supply M1/M2/M3 HKD; 05:30 Sri Lanka Oct CPI; CPI Moving Average; 06:30 India Sept Fiscal Deficit INR Crore; 18:30 Australia Oct AiG Performance of Manufacturing Index; 19:00 Australia Oct RPData/Rismark House Px; 19:00 South Korea Oct CPI; CPI Core; 20:00 South Korea Oct Trade Balance; Exports; Imports; Oct HSBC/Markit Manufacturing PMI; 20:30 Australia Q3 PPI; 21:00 CHINA Oct Manufacturing PMI; 21:45 China Oct HSBC/Markit Manufacturing PMI; 22:00 Taiwan Oct HSBC/Markit Manufacturing PMI; 23:00 Indonesia Oct HSBC/Markit Manufacturing PMI; TBD South Korea Oct Foreign Reserves (Expected release 10/31-11/5); TBD Indonesia Oct Danareksa Consumer Confidence (Expected release 10/31-11/6); Oct Consumer Confidence Index (Expected release 10/31-11/11); Sept Money Supply M1/M2 (Expected release 10/31-11/11); TBD Japan Oct Official Reserve Assets (Expected release 10/31-11/8); TBD Thailand Oct CPI; CPI Core (10/3111/1) CENTRAL AND SOUTH AMERICA: Mexico: Budget Balance YTD (September); Net Outstanding Loans (September); Brazil: Net Debt % GDP (September); Nominal Budget Balance (September); Primary Budget Balance (September). CANADA: GDP (August); Average Weekly Earnings (August). IN CONGRESS HOUSING: 10:00AM: Senate Banking Committee hearing on housing finance reform, focusing on a government guarantee for mortgage-backed securities with testimony from MBA CEO David Stevens. CONFERENCES BEGINNING OF NOTE: Cato Institute Policy Perspectives Conference, Washington, DC; Ira Sohn Foundation European Investment Conference, London; SelectUSA 2013 Investment Summit, Washington, DC

WEDNESDAY 10-30-2013
p. 4 of 5
ance cancellation notices, p. A1; +/- Rabobank: Lead finance story says Dutch lender has agreed to a $1.07B deal to settle accusations it skewed key financial benchmarks in interest-rate-rigging scandal, and its CEO has resigned, p. C1; Latest record run for U.S. stocks is sending up caution flags in options market, as hefty demand that would benefit from a further rise in stock prices recently sent a skew to its fifth-lowest reading in 2013, p. C1; +/- Twitter: Article notes that in addition to fees, there are many ways Wall Street stands to benefit from the social media companys forthcoming IPO, p. C1; Story reports on legacy of U.S. efforts to build nuclear weapons, which has left the country with $350B in cleanup costs at projects scattered across hundreds of sites in dozens of states, p. A1; White House racing to rebuild confidence in new healthcare system that has so far fallen short of President Obamas promises, as uproar threatens to overwhelm his second term agenda, p. A4; Operators of U.S. truck fleets are accelerating a shift to natural gas fueled trucks, betting on new engines that promise to drop the cost of shifting from diesel fuel, p. B1; + Emirates, Qatar Airways, Etihad Airways: Gulf airlines are quickly expanding in the U.S., sparking a backlash from several American carriers over competition for some of their most lucrative passengers, p. B1; +/- MDLZ: Activist investor Nelson Peltz ramping up pressure on snack maker, claiming it is doing too little to cut costs, p. B3; - TRI: Company to cut another 3,000 jobs, mostly through layoffs in its core financial and risk division, amid shrinking quarterly revenue, p. B3; In interview, Norilsk Nickel chief Vladimir Potanin discusses why the worlds largest producer of nickel and palladium is exiting the processing business to focus on mining, p. B5; + LULU: In bid to move beyond recall of yoga pants earlier this year, company has hired Tara Poseley, previously president of apparel for SHLDs Kmart unit, to oversee merchandising, product design, and strategic planning, p. B7; + S: Mobile carrier will today offer first look at the wireless network technology touted by its new owner, Softbank, at an event for investors, analysts, and journalists in Silicon Valley, p. B8; + GOOG: In talks with Asian suppliers to begin mass production of a smartwatch, its latest foray into wearable devices after launch of Google Glass, p. B8; + Greenland Holdings Group: Shanghai-based developer to invest $957M in real estate assets in Sydney and Melbourne in the next two years as part of global expansion plan, p. C10; Ahead of the Tape: There is a disconnect between the 23 cents a share FB earned over the past four quarters and the $50 that its stock fetches today, p. C1; H.O.T.S.: India is the latest emerging market to shore up policy while the Feds taper is on hold; With its business still flailing, its tough to see how splitting off some of SHLDs operations will turn things around; Next challenge for BP will be to back up more asset sales, lower capital spending, and offer a higher dividend with stronger operational cash flows; Troubles facing European banks are a reminder of the pitfalls of investing in them, p. C16; In opinion piece, Al Gore and David Blood say investors need to adjust to the coming carbon asset bubble, noting fossil-fuel investments are destined to lose their economic value, p. A15. FT: Lex Column: OGX and Energy Future equity backers are in very different places; Third quarter numbers at DB could push those of a nervous disposition over the edge; The market is uprating shares of NOK ahead of a vote on the sale of its core business; At BP, production growth will help investors stay loyal to the oil giant, which is now leaner and more high-yielding; UBS, amid ongoing regulatory woes, faces questions about its value from investors, with lack of growth casting a shadow over its hefty premium; Results at SK Hynix suggest dynamics in the chipmaking sector have changed; Comment: In opinion piece, Martin Wolf says Bank of England governor Mark Carney is placing a bet on big finance, and has opted for boldness at a time when caution may be a safer course. IBD: Big Picture: Stocks gained ground Tuesday, as the S&P 500 made better strides than the Nasdaq. Blue chips led the pack. The Dow Jones Industrial average climbed 0.7%; New America: + PGTI: Recovering real estate market is helping door and window maker thrive again after losing money from 2008 to 2011; Technology: +/- LNKD: Company blew past Q3 earnings forecasts, but weak revenue outlook prompted a retreat in shares; + BIDU: Mobile ad growth helped power Q3 earnings that beat Wall Street expectations. USA: Federal authorities are probing suspected rigging of foreign exchange rates in the latest multinational investigations of financial benchmarks that affect trillions of dollars in transactions; - MCD: Report from Corporate Accountability International and The Small Planet Fund says food giant is a minor contributor to the Ronald McDonald House Charities even as it earns 100% of the public relations benefit. NY POST: Russian operatives gave goodie bags to world powers at the G20 summit with USB drives and phone chargers, but they were Trojan Horses designed to download info and send it to spies; A man who bought $27 worth of bitcoins in 2009 now finds theyre worth $886,000.

In the Rags
NYT: Nations top spymaster says White House had long been aware in general terms of the NSAs overseas eavesdropping, defending its methods and hinting at divisions within the Obama administration, p. A1; New Jersey governor Chris Christie, who once criticized predecessor Jon Corzine for using one-shot gimmicks to balance the budget, is himself using such tactics, p. A1; Senate Democrats plan to force a vote this week to fill a seat on the U.S. Court of Appeals for the District of Columbia Circuit, threatening to reopen fight over filibuster reform if Republicans block it, p. A12; - SHLD: Story reports on retailers overall decay, noting even after move to split off its Lands End and Sears Auto Center brands, what remains appears to have rapidly diminishing value, p. B1; Chocolate makers in the Ukraine are suffering in wake of Russian decision to ban imports from some companies over health concerns, p. B1; + Twitter: Ahead of its IPO, social site has added photo and video previews to the feed of items viewers see when they log into the service from the Web or mobile applications, p. B1; Under a regulatory cloud, European banks are grappling with huge legal costs as they pay to settle for past transgressions, p. B3; In opinion piece, Nuri Kamal-al-Maliki, prime minister of Iraq, says security in the country is improving, and that it wants to continue walking that road with America, p. A27. WSJ: Front page story on U.S. spying reports U.S. officials say phone records collected by the Europeans, in war zones and other areas outside their borders, were shared with the NSA as part of efforts to protect allied troops and civilians, p. A1; In deal with federal prosecutors to be announced next week, SAC Capital will plead guilty to securities fraud as part of criminal insider-trading settlement, firm will stop managing outside money and pay $1.2B in penalties, p. A1; Problems continue to plague rollout of healthcare overhaul, with officials concerned that thousands of Americans are getting insur-

Thursdays Key Events

ANALYST MEETINGS: Catlin Group Ltd. (London), EW (at the Transcatheter Cardiovascular Therapeutics Conference). ANNUAL MEETINGS: CEMI, CMRE, DOLE (Re Merger with David H. Murdock) DRYS, ORCL, ORIG, PIKE, TECH, WBMD. S&P Index Changes: FTDDV (FTD Companies Inc.) will replace UNTD in the S&P SmallCap 600 Index , PBNY will replace STL in the SmallCap 600 Index KEY INDUSTRY RELEASES: 9:00AM: International Grains Council releases world grain production #'s for October; 10:30AM: E.I.A. publishes weekly natural gas storage report; 3:00PM: USDA publishes agricultural prices for October. DEALS EXPECTED: Container Store Group (TCS)(IPO) JPM/ Barclays/ Credit Suisse Qunar Cayman Islands Ltd. (QUNR) (IPO) Goldman Sachs (Asia)/ Deutsche Bank (between $9.50-$11.50) ECONOMICS MONETARY POLICY MEETING: Bank of Japan. BOJ semiannual Outlook Report, which includes board

Online
BARRONS ONLINE: Barrons Take: + on PFE, drug makers cancer-fighting unit helped it lift quarterly results, but with a 3.1% yield, the stock looks cheap even after its recent run. DIGITIMES: Lite-On Technology seeing strong demand for handset-use compact camera modules; Limited supply of Sharp panels may lead to limited to supply of AAPL iPad Mini with Retina display; Suntech Power to be acquired by Shunfeng Photovoltaic; Restoration of fire-hit SK Hynix China plant likely to be delayed. WOMENS WEAR DAILY: Permira said to be in the running for Versace stake; Uniqlo to launch capsule collection with Parisian fashion icon De la Fressange.

Events Desk (212) 884-8096

ALL THINGS DIGITAL: Sources say INTC may be close to a deal to hand over control of Intel Media, which has been trying to build a Web-based subscription TV service, to VZ. POLITICO: President Obamas original message about how simple new healthcare system would be for users is coming back to haunt him. PAIDCONTENT: BKS releases its new e-reader, the $119 Nook GlowLight today, device has twice the storage of AMZNs Kindle Paperwhite. TECHCRUCH: Cloud-based device management startup Soluto acquired by device insurers Asurion for $130M. CNET: The U.S. Navys largest and most technologically sophisticated destroyer has entered the water. THE HILL: White House continues to struggle to defend the Affordable Care Act as thousands of people received notifications their insurance companies were dropping their plans PROJECT SYNDICATE: When government leaders meet in early December to decide on further financing for the Global Fund to Fight AIDS, Tuberculosis, and Malaria, they should act on the basis of evidence, not ideology, says Jeffrey Sachs; The potentially fatal flaw in Obamacare, says Martin Feldstein, is the very same feature that appeals most to its supporters: the ability of even those with a serious preexisting health condition to buy insurance at the standard premium. JOURNAL NATURE: Study of the genome sequence of the Yangtze River dolphin may help explain the reasons behind its recent extinction. BLOOMBERG SURVEILLANCE: 7:00AM: Mohamed El-Erian of Pimco; 7:30AM: Jeffrey Immelt, CEO of GE; 7:45AM: Fred Smith, CEO of FDX; 8:00AM: Dan Ammann, chief financial officer at GM; 8:15AM: Robert Laszewski of Health Policy and Strategy Associates; 8:30AM: Mark Hamrick of Bankrate; 9:00AM: Stan Collender of Qorvis Communications 0.9% (speculation surround spinoff of cleaning operations) - TELECOM: Softbank Corp 9984.JP +2.0% (press speculation on H1 results) EUROPEAN / ASIAN ANALYST ACTIONS UPGRADES: Disco Corp (JPM), Alacer Gold (JPM), Aquarius Platinum (GS), EasyJet (BCS), Nexity (Societe Generale), Petrofac (GS), PostNL (Tier1), Poyry OYJ (ESN), Prosafe SE (GS), Unicredito Italiano (HSBC), Yoox SpA (C). DOWNGRADES: Far EasTone Telecommunications (JPM), Azimut Holdings (DB), Bauer AG (Kepler), Dialight plc (Oddo Securities), Fugro (GS), Gas Natural SDG (C), M6 Group (ESN), NMC Health plc (DB), SBM Offshore (GS), Swedish Match (Natixis), Technip (GS), UBS AG (Tier1), Umicore (C), Viscofan (Societe Generale), Voestalpine (DB), Volvo AB (DB). INITIATES: Greatview Aseptic Packaging Overweight (JPM), Amer Sports Buy (C), Drillisch Accumulate (ESN), Hannover Re Sector Perform (RBC), Melrose plc Overweight (JPM), World Duty Free SpA Buy (C).

WEDNESDAY 10-30-2013
p. 5 of 5
to result in pre-tax charge of about $5.1M to Q4 segment results. -BCS could face $700M in litigation charges related to breach of contract with Black Diamond Capital after New York Supreme Court of Appeals overturns lower court decision (FT). HEALTHCARE -AMRN: FDA withdraws ANCHOR study special protocol assessment because of flawed study design, company is working with agency to schedule a type A meeting on Vascepa. -ARIA holder Sarissa Capital, with 6.2% of outstanding shares, seeks representation on board. -CEMP receives U.S. orphan drug designation for Taksta for treatment of prosthetic joint infections. -MACK phase 2 study of MM-121 (SAR256212) in combination with Paclitaxel did not meet primary endpoint of progression-free survival in overall population. -NSPR MGuard stent shows lower mortality rate in STEMI patients at 12 months compared to control group. -RTIX announces successful resolution to FDA warning letter for Alachua, Fla. facility. -VOLC announces positive two-year results of largest retrospective study of IVUS use in stent placement. -WX manufacturing facility passes FDA inspection. INDUSTRIAL -BA said to be in talks with Emirates, Etihad, Qatar, and Cathay Pacific for up to 255 777x models in what could be an $87B deal. -Chrysler reports Q3 net $464M vs. $381M y/y, modified operating profit of $862M vs. $702M y/y, revenue $17.6B vs. $15.5B y/y. -TSLA reaches agreement with Panasonic to expand supply of automotive-grade battery cells. MEDIA -CBS News said to be developing a 24-hour streaming news platform (BuzzFeed). TECHNOLOGY -WILN to explore strategic alternatives. TELECOM -Chungwa Telecom awarded 4G telecom license for NT$39.1B. -VZ remains committed to supporting the government healthcare service and stabilizing the website. JIM CRAMERS MAD MONEY -POSITIVE MENTIONS: MHR, SO, CMG -NEGATIVE MENTIONS: FDML, AMAT, CSCO THE BACK OFFICE -DIVIDEND NEWS: MN announces a special $0.08/share dividend; AFL raises quarterly dividend 5.7% to $0.37 from $0.35; EGOV declares special cash dividend of $0.35 per share; JMP raises quarterly dividend by 14% to $0.04/share; EXLP raises quarterly dividend by 1% 5to $0.5275/share. -MOODYS RATINGS: JCI Q4 earnings are a credit positive, momentum needs to be sustained. -BUYBACK ANNOUNCEMENTS: HCA announces $500 repurchase plan of shares from sponsors; LXK discloses accelerated $20M share repurchase agreement, under existing program. DEALS PRICED -BRX prices 41.25M share IPO at $20/share, in middle of $19-21 forecast range. -CRTO 8.1M ADS IPO priced at $31/share. -Jingrui Holdings Prices 313.4M shares of IPO at HK$4.45/share, near lower part of HK$4.20-5.48 range. -KO prices $5B in senior 2016 notes. -LH prices $400M in 2.5% senior 2018 notes, $300M in 4% senior 2023 notes. -MZOR prices 2.4M ADS in public offering at $17/share. -SCAI announces 9.8M share IPO priced at $24/share. -TCS prices 12.5M share IPO at $17.50/share, higher than $14-15 indicated range. OFFERING ANNOUNCEMENTS -CAMP files mixed securities shelf of indeterminate amount. -CNI announces $600M debt offering. -CZR sponsors to exercise over-subscription privileges in rights offering. -HCA announces 30M share 2ndary. -LTD files mixed securities shelf. -SMLP files $1.2M mixed securities shelf. -YELP files mixed securities shelf of indeterminate amount, to sell $250M in common stock. AFTER HOURS TRADING HIGHER: On Earnings: BWLD, DWA, LOCK, FALC, BIDU, TRLA, EA, CBG; Others: NSPR (trial results), ARIA (holder Sarissa seeks board representation); LOWER: On Earnings: INVN, WU, IACI, SFLY, YELP, QCOR, CALX, SIMG, MX, LNKD, XCO, CZR, HTS, GNW, CRUS; Others: AMRN (FDA rescinds ANCHOR trial SPA)

After the Close Tuesday

EARNINGS -BEAT estimates: TTWO (+.84); SM (+.45); TRLA (+.42); SFLY (+.38); QCOR (+.37); IACI (+.36); VRTS (+.29); CRUS, DLB (+.24); EA, EIX (+.21); HCC (+.19); AMP (+.18); NUVA (+.15); BBSI, UHS (+.14); GPRE (+.13); DWA, MOVE (+.12); TGI (+.11); ROG (+.10); BWLD, CRL (+.09); LNKD (+.08); CACI (+.07); CALX (+.06); BIDU, FISV, RRC, SWI (+.05); AZPN, BXMT, GILD, HGR, LOPE, MX, TCBK, WU (+.04); ACHC, ATRC, CVD, MRCY, NATL, NBIX, QGEN, SIMG, ULTI (+.03); AUY, CLD, CSGS, FLEX, INVN, LOCK (+.02); BGFV, CBI, CYNI, ENTR, IPHI, MWA, NCIT, PSEM, WBMD, XXIA (+.01) -IN-LINE with estimates: AFG, AFL, BUSE, CBT, CSFL, EXAR, FEIC, IG, LMAT, PRXL, SONS -DISAPPOINTED: ACMP, AJG, ARTC, BBOX, CAP, CBG, CEMP, CERS, CZR, DAC, EXXI, GEVA, GNW, KFRC, KWR, MSL, NANO, PLT, RBCN, RPXC, RYL, SYX, YELP, VPRT, WNC, WSH, WTS, XCO GUIDANCE -POSITIVE: ACHC, AFG, AZPN, BBSI, BIDU, CRL, CVD, EIX, HCC, LOPE, NCIT, NUVA, TTWO, UHS -IN-LINE: DLB, KFRC, LOCK -NEGATIVE: BGFV, CACI, CBG, CYNI, EA, FEIC, FISV, FLEX, HGR, PLT, PRXL, RBCN, RYL, SFLY, SWI, TGI, WU SAME STORE SALES -BWLD SSS +4.8% in company-owned locations, +3.9% at franchised locations. GLOBAL MACRO NEWS -CHINA: China Development Bank researcher says Q4 GDP may fall to 7.7% from 7.8% in Q3; Authorities may ease control on crude and fuel imports and further break up monopolies in energy industry; Peoples Bank of China sets yuan midpoint at 6.1412 vs. 6.0902 prior close and 6.1373 prior setting, gauges demand for 14day reverse repos, 28-day repos, and 91-day bill sales; IMC Secretary Lin Jianhai says yuan is slightly undervalued. -GERMANY: Debt agency sells 3.413B in 2% 2023 Bunds, average yield 1.71% vs. 1.79% prior, bid-to-cover 1.7x vs. 1.30x prior. -ITALY: Debt agency sells total 6B vs. 6B indicated in 5-year and 10-year BTP bonds. -JAPAN: Bank of Japan likely to raise FY14/15 GDP forecasts. -SOUTH KOREA: November Business Survey Manufacturing: 83 vs. 82 prior; Business Survey Non-Manufacturing: 70 vs. 72 prior; September Cyclical Leading Index Change y/y: -0.2% vs. 0.3% prior; September Industrial Production m/m: -2.1% vs. -0.4%E; y/y: -3.6% vs. +1.9%E. -SPAIN: Q3 Preliminary GDP q/q: +0.1% vs. +0.1%E; y/y: -1.2% vs. -1.2%E. -UNITED STATES: Sen. Rand Paul confirms last weeks report he will put Janet Yellens Fed nomination on hold, potentially delaying confirmation process; Senate confirms Thomas Wheeler as FCC chairman. MERGER AND ACQUISITIONS -TFX to acquire privately held Viacare Corporation for $252.5M. -WBMD acquires Avado, Inc., terms not disclosed. -XXIA to acquire Net Optics, Inc. for $190M in cash. PERSONNEL CHANGES -SONS appoints Mark Greenquist CFO. -SWI names John Rizzo EVP, chief marketing officer, chief customer officer. -TEVA chief Levin to step down, Eyal Desheh named interim CEO. CONTRACT AWARDS -TXT: AAI Corp. unit awarded $126M US Army contract. CONSUMER -CWTR announces restructuring and cost reduction program to reach $20-25M in pre-tax savings in FY14. ENERGY -API Petroleum Inventories: Crude: +5.9M vs. +2ME; Gasoline: +740K vs. 0E; Distillate: -2.7M vs. -0.5ME; Utilization Rate: 86.3% vs. 85.6% w/w; Cushing Inventory: +2.19M vs. +423K w/w. -Tokyo Electric Power: Panel of Japans ruling LPD party say company should spin off its cleanup operations (Nikkei). FINANCIAL -AIZ Assurant unit has notified employees of workforce reduction as part of overall expense management, costs

US Analyst Actions
UPGRADES: BIDU (BB&T), BP (Societe Generale), FB (BTIG), KO (BCS), NKE (MS), TRI (RBC), XYL (Brean). DOWNGRADES: AMBA (MS), BBBY (Canaccord), CRUS (BCS), DLR (RJF), EW (JPM), SNDK (Tier1), WSH (Tier1), X (DB). INITIATES: ECL Buy (UBS), FINL Equal Weight (MS), FL Equal Weight (MS), HASI Buy (UBS), SKX Buy (Brean).

Around The World

US Futures are Higher. European Equity markest are mostly higher. Asian markets closed higher. Nikkei: +176.37; Hang Seng: +457.48; CSI 300: +35.42; Taiwan: +44.08; Kospi: +7.82; FTSE: +33; DAX: +34; CAC: +22; Gold: +4.40; Copper: +0.0340 (climbing for a 5th day); Oil: -0.68; 10 Year Treasury Yield: 2.48%, +4/32; US$: Lower vs. Pound; Higher vs. Yen; Lower vs. Euro; S&P Futures: +4.50; DOW Futures: +47; NASDAQ Futures: +14. IN EUROPEAN OVERSEAS TRADING (BY SECTOR) - INDUSTRIALS: Vossloh VOS.DE +5% (Q3 sales rose y/y), Volkswagen VOW3.DE +4% (Q3 profits above forecast, reaffirmed outlook), Clariant CLN.CH +3.5% (Q3 profits above ests, asset sale). - FINANCIALS: Barclays BARC.UK +3% (Q3 profits in line), UniCredit UCG.IT +1.5% (broker commentary). - ENERGY: Eni ENI.IT +3% (Q3 profits above ests, buyback). - HEALTHCARE: Sanofi SAN.FR +1.5% (FY forecast in line). - CONSUMER DISCRETIONARY: Next NXT.UK +6% (Q3 sales +4.3%), Lookers LOOK.UK +4.5% (positive outlook), TomTom2 TOM2.NNL +4% (raised outlook); Pearson PSON.UK -3% (cautious outlook). - BASIC RESOURCES/MATERIALS: African Barrick Gold ABG.UK (Q3 production +11%). - STOXX50 SECTORS: Consumer Cyclical +1.8%, Energy +1.7%, Utilities +0.9%, Industrial +0.2%, Consumer Non-Cyclical +0.1%, Telecom +0.1%, Technology +0.1%; Financials -0.1%, Basic Materials -0.10%] IN ASIAN OVERSEAS TRADING (BY SECTOR) - CONSUMER DISCRETIONARY: China Shipping Container 2866.HK -3.0% (Q3 results); Esprit Holdings 330.HK +6.1% (Q3 results; appoints CPO); Japan Tobacco Inc 2914.JP +3.4% (reports of plant closure, job cuts); Shiseido 4911.JP +1.3% (JV plans) - CONSUMER STAPLES: Daio Paper Corp 3380.JP +0.5% (press speculation on H1 results) - INDUSTRIALS: CSR Corp 1766.HK +1.3% (Q3 results); Air China 601111.CN +2.1% (Q3 results); GWA Group Ltd GWA.AU +0.7% (FY13 guidance); CNR Co Ltd 601299.CN +3.5% (Q3 results) - MATERIALS: Medusa Mining Ltd MML.AU -3.8% (Q1 production results); Metallurgical Corporation of China Ltd 601618.CN +3.4% (Q3 results) - FINANCIALS: China Vanke Co Ltd 000002.CN +0.7% (Q3 results); China CITIC Bank 998.HK +3.6% (Q3 results); Mitsubishi UFJ Financial Group 8306.JP +1.8% (press speculation on H1 results); Sumitomo Mitsui Financial Group 8316.JP +1.5% (press speculation on H1 results) - ENERGY: Datang International Power Generation 991.HK +3.5% (Q3 results); PetroChina 601857.CN +1.8% (Q3 results) - TECHNOLOGY: Pegatron Corp 4938.TW +2.0% (possible Apple order); Disco Corp 6146.JP +2.1% (analyst action); Secom 9735.JP +2.0% (press speculation on H1 results) - UTILITIES: SDIC Power Holdings Co Ltd 600886.CN +8.0% (Q3 results); Datang Huayin Electric Power Co Ltd 600744.CN +4.2% (Q3 results); TEPCO 9501.JP -