EFTA01792205

From: Tazia Smith Sent: Thursday, October 31, 2013 1:26 PM To: [email protected] Cc: Vahe Stepanian Subject: FB down despite solid earnings, ARIA down 50%, EURUSD down —1.365 [C] Classification: Confidential Good Morning Jeffrey - EURUSD sold off on the FOMC announcement (or rather absence thereof ?). Thoughts on a knock-in? Indicative levels from DB FX: a 6mo 1.3650 Vanilla Euro put costs — $30k per Euro 1mm. vs the 6mo 1.3650 Euro Put with a XI at 1.3900 costs - $13k per Euro 1mm. (indicative levels only, subject to market movement) ARIA - down 50% (-'$2.30 in pre) on reports that the co is discontinuing Iclusig marketing in the US FB - -$46.66 (down 4.5%) posted solid Q3 EPS of $0.25 vs. $0.19 cons. Stock was volatile in the aftermarket, dropping -15% after the CFO suggested ads-per-user growth was tapped out. Shares recovered to -$49 in the pre this morning as bulls point to pricing and continued successful mobile growth as the forward earnings drivers. DB's analyst remains positive but suggests FB mgmt removed the "dream scenario" that he thought would continue for a couple more years. (DB = Buy, $61tgt). Recall, you own 17.5k shares of FB. Dec calls? Speak with you soon, Tazia Source: Bloomberg, Streetaccount, DB Global Markets Research 10/31/13 https://ger.gm.cib.intranet.db.com/ger/document/pdf/0900b8c08775b75e.pdf <https://ger.gm.ci b. i ntranet.db.com/ger/document/pdf/0900b8c08775b75e. pdf> Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management EFTA_R1_00122857 EFTA01792205 This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. 2 EFTA_R1_00122858 EFTA01792206