Today's noteworthy initiations include: Apple (AAPL) initiated with a Buy at Nomura... Bill Barrett (BBG) initiated with a Buy at Cantor... Bonanza Creek (BCEI) initiated with a Buy at Cantor... Burberry (BURBY) initiated with a Hold at Jefferies... Carrizo Oil & Gas (CRZO) initiated with a Buy at Cantor... Earthstone Energy (ESTE) initiated with a Buy at Cantor... Emerald Oil (EOX) initiated with a Hold at Cantor... Five Prime (FPRX) initiated with a Buy at Citi... LendingClub (LC) initiated with a Buy at Canaccord... Lionsgate (LGF) initiated with an Outperform at Macquarie... Luxottica (LUX) initiated with an Underperform at Jefferies... National Instruments (NATI) initiated with an Outperform at Oppenheimer... Oasis Petroleum (OAS) initiated with a Buy at Cantor... On Deck Capital (ONDK) initiated with a Buy at Canaccord... PDC Energy (PDCE) initiated with a Buy at Cantor... PayPal (PYPL) initiated with a Buy at Compass Point... Restoration Hardware (RH) initiated with a Hold at Evercore ISI... Super Micro Computer (SMCI) initiated with a Buy at Maxim... Synergy Resources (SYRG) initiated with a Hold at Cantor... Triangle Petroleum (TPLM) initiated with a Hold at Cantor... Wayfair (W) initiated with a Buy at Evercore ISI... Whiting Petroleum (WLL) initiated with a Buy at Cantor.

Bullish option flow detected in Wayfair with 10,218 calls trading, 1.2x expected, and implied vol increasing almost 4 points to 81.40%. May-24 60 puts and Sep-24 60 calls are the most active options, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 0.64. Earnings are expected on May 2nd.

DMG Blockchain Solutions (DMGGF) announced a strategic collaboration with PayPal (PYPL) and Energy Web to explore ways to decarbonize the Bitcoin blockchain. The companies are working together on developing methods for transacting on the Bitcoin network which would expand its use as a carbon neutral payment rail, thus advancing its application. DMG, Energy Web, and PayPal are working together to publish a research paper, which we collectively believe will benefit users of the Bitcoin network who would like to take advantage of carbon neutral options in their transactions. PayPal, with its focus on developing its bitcoin payment rail, has been a leader in new payment technologies with the introduction of its enhanced services by integrating blockchain technology, launching the PayPal USD stablecoin with Paxos Trust Company in August 2023 for efficient transactions.

TD Cowen raised the firm's price target on Wayfair to $55 from $50 and keeps a Hold rating on the shares. The firm said they expect the company to report revenue and EBITDA slightly below current consensus estimates when it reports earnings.

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link

KeyBanc initiated coverage of Supermicro with a Sector Weight rating and no price target. The shares are currently trading relatively inline with Supermicro's infrastructure peer group, the analyst tells investors in a research note. The firm says the company is well positioned to benefit from secular artificial intelligence growth trends provided its ability to deliver highly customized full IT solutions leveraging its in-house engineering design expertise based on latest technology. KeyBanc notes Supermicro is addressing a $141B total server addressable market in 2024, which is forecasted to grow to $187B by 2027, implying a three-year annual growth rate of 10%.

Notable gainers among liquid option names this morning include Globe Life (GL) $71.33 +4.94, Super Micro (SMCI) $764.85 +47.83, Danaher (DHR) $250.88 +14.79, Kimberly Clark (KMB) $136.87 +7.94, and General Motors (GM) $45.38 +2.17.

Welcome to "Fly Insider," The Fly's weekly recap of notable insider stock transactionsNOTABLE INSIDER PURCHASES: Significant insider purchases reported in the prior week from April 15 through April 19 include:Chairman of Ashford (AINC) Montgomery Bennett purchased 200,000 shares of company stock at $4. 91 per share... To see the rest of the story go to thefly.com. See Story Here

Apple quietly acquired Paris-based AI startup Datakalab on December 17, Challenges' David Pargamin reports. The terms of the transaction could not be learned, but European Commission has been notified of the deal, the author notes. Reference Link

Friday's total option volume of 56.7 million contracts resulted in net open interest growth of 6.01 million calls and 5.28 million puts. NVIDIA (NVDA), Tesla (TSLA), Apple (AAPL) and Advanced Micro Devices (AMD) saw the greatest growth. Top five new positions opened include 50k Lyft (LYFT) May-24 20 calls, 44k Energy Transfer (ET) 4/26 weekly 16.5 calls, 43k Las Vegas Sands (LVS) Sep-24 41 calls, 23k Tesla (TSLA) 4/26 weekly 162.5 calls and 21k Papa John's (PZZA) Jun-24 57.5 puts.