Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Hold from Buy at Maxim with analyst Nehal Chokshi saying he sees high risk that FY19 will be a "down year" given declines in the broader smartphone market. 2. AK Steel (AKS) downgraded to Sell from Neutral at Goldman Sachs with analyst Matthew Korn citing continued underperformance by the company in terms of pricing and margins and also points to its limited visibility around downstream operations. 3. AbbVie (ABBV) downgraded to Underperform from Neutral at Credit Suisse with analyst Vamil Divan saying he is increasingly concerned about the longevity of its flagship product Humira. 4. Petrobras (PBR) downgraded to Hold from Buy at Santander. 5. Hope Bancorp (HOPE) downgraded to Neutral from Buy at DA Davidson with analyst Gary Tenner saying that while the company has posted "solid profitability metrics," its 100% loan/deposit ratio will make it challenging to fund growth without hurting net interest margins. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Apple plans to spend more than $250M on its regional hub in Singapore, including expanding its campus later in 2024, in an effort to reduce exposure to China and diversify its footprint in Asia, The Wall Street Journal's Amanda Lee reports. The expanded campus will run completely on renewable energy, according to the report. Reference Link

IHG Hotels & Resorts (IHG) launches Apple (AAPL) AirPlay in the first phase of hotel rooms, giving guests the ability to stream content privately and securely from their iPhone or iPad to the TV in their guest rooms. AirPlay is available at more than 60 hotels in North America, including properties like InterContinental Buckhead Atlanta, Hotel Indigo NYC Downtown - Wall Street and Holiday Inn & Suites Ottawa Kanata. IHG is the first hospitality company to provide AirPlay functionality as part of its in-room entertainment experience.

AbbVie announced positive top-line results from SELECT-GCA, a Phase 3, multicenter, randomized, double-blind, placebo-controlled study, showing upadacitinib in combination with a 26-week steroid taper regimen achieved its primary endpoint of sustained remissiona from week 12 through week 52 in adults with giant cell arteritis. In this study, 46% of patients receiving upadacitinib 15 mg in combination with a 26-week steroid taper regimen achieved sustained remission compared to 29 percent of patients receiving placebo in combination with a 52-week steroid taper regimen. Key secondary endpoints were also met, including a higher percentage of patients receiving upadacitinib 15 mg in combination with a 26-week steroid taper regimen achieved sustained complete remissionb from week 12 through week 52 compared to patients receiving placebo in combination with a 52-week steroid taper regimen. A lower percentage of patients experienced at least one disease flare through week 52 in the upadacitinib 15 mg group versus the placebo group. The study results also showed that upadacitinib 7.5 mg did not meet the primary or any of the secondary endpoints.