EFTA01459742.pdf

8 February 2016 US Equity Insights IFigure 5: Btrn-up 2016E EPS revisions since December 1st •40 Reported a Blended -15% -12% -9% -6% -3% 0% Disc -15% MB. Staples -31% _631% Energy -30% Financials -46 2% Health Care 0l5% Industrials Tech Matenals 4.0% Telecom 0.4% Utilities S&P ex Fin cx. En ex Tech En, Fin. -10.1% Ex. En, Fin t1 2 / at<enchain Wendell • by asse than Marmated 40ISmat Sane Deady aric. gen Figure 6: Change in btrn-up 4O15 EPS since 9130/2015 Figure 7: Change in btm-up 2015 EPS since 9/30/2015 (current 4O EPS is blended: actual for reported and consensus for the rest) se -5% -10% t ■ ra i .8% .3 8% l 7 1% -1.1% 15% 02% 84 a 4% 2% 0% Change r 01m-up 2015 EPS since 9/302015 1 - 00% 02% 1. 2% • 0.3% 1e% .15% :1110 .071 -180% .14.1% -101% )0 -2% 1 8% 8% -20% .29% .4%. 33% -3.6% -30% -614 I -39% 48% .355% u. W MI 14 t X Sousa /848. 0444•04 awe San. SES. Demmer@ Ant Pagu 4 Deutsche Bank Securities Inc. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 120398 CONFIDENTIAL SDNY_GM_00266582 EFTA01459742