Catch up on today's top five analyst upgrades with this list compiled by The Fly: Apple (AAPL) upgraded to Hold from Sell at BGC Financial with analyst Colin Gillis saying that while he still has issues with Apple's dependence on the iPhone he now believes that a catalyst for a meaningful pullback has passed following its earnings report, which he thinks "had plenty of chinks but did not show a meaningful decline to support a negative thesis." Gillis raised his FY17 estimates for Apple following the report and increased his price target to $125 from $85 on Apple shares. 2. Coach (COH) and lululemon (LULU) were upgraded to Neutral from Sell at Goldman. 3. Alcoa (AA) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Gambardella saying the company, post the Arconic (ARNC) spin-off, is in a much better position to "weather weaker commodity price environments given the significant deleveraging of its balance sheet." Arconic absorbed most of Alcoa's consolidated debt, giving the latter "significant leverage" to recently rebounding alumina and aluminum prices, Gambardella tells investors in a research note. He raised his price target for Alcoa shares to $46 from $29. 4. U.S. Steel (X) upgraded to Buy from Neutral at BofA/Merrill with analyst Timna Tanners citing the recent pullback in shares and better outlook. 5. Foot Locker (FL) upgraded to Buy from Neutral at Guggenheim. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

The company states: "Adjusted EBITDA excluding special items was $132 million, a sequential increase of $43 million primarily due to lower energy and raw material costs, partially offset by lower average realized third-party price for aluminum and higher production costs."

Reports Q1 revenue $2.60B, consensus $2.56B. "In the first quarter of 2024, we finalized the terms of our acquisition of Alumina Limited, which will bring strategic, operational, and financial flexibility," said Alcoa CEO William Oplinger. "Raw material prices and markets are improving, and we are implementing near-term improvements to further strengthen Alcoa for the future."

Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. UPPING PARENTAL CONTROLS: The... To see the rest of the story go to thefly.com. See Story Here

Pre-earnings options volume in Alcoa is 1.1x normal with calls leading puts 3:2. Implied volatility suggests the market is anticipating a move near 5.4%, or $1.97, after results are released. Median move over the past eight quarters is 4.8%.

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

Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Alcoa (AA)... To see the rest of the story go to thefly.com. See Story Here

Maxim initiated coverage of Apple with a Hold rating and $178 price target.

Apple will consider making some of its products in Indonesia as the company plans to ramp up investment in Vietnam, Kimberley Kao and Ben Otto of The Wall Street Journal reports. "We talked about the president's desire to see manufacturing in the country, and it's something that we will look at," CEO Tim Cook said at a press conference, according to state news agency Antara. Cook did not offer a timeline for the investment or say what form it could take. Reference Link

The U.K. plans to hold talks this month with Apple (AAPL), Meta (META), Alphabet (GOOGL) and others to push a voluntary charter granting parents more control of social media use by young teens, Bloomberg's Ellen Milligan reports. According to people familiar with the matter, ministers want to launch a consultation later this month to gauge ways of limiting the potential harm to children caused by social media, and the proposed voluntary charter may involve tech firms agreeing to alert parents when their children are repeatedly looking up disturbing content. Reference Link

Metals & Mining Analyst Englert, along with Rye Druzin of Argus Media, discuss recent flat rolled steel pricing, supply and demand trends, and the near-term outlook for fundamentals (relevant companies ASTL CLF NUE STLC STLD X RS WS) on an Analyst/Industry conference call to be held on April 19 at 11 am.