Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.

Says more A220s in service than E190s by the end of April. Says expects average of 11 aircraft to be out of service due to GTF issues through year. Says continues to work towards reaching agreement with Pratt & Whitney for compensation. Expects the number of grounded planes to increase above 2024 levels next year. Says continues to opportunistically look at hedging as a means of mitigating risk. Says 100% focused on executing on strategic initiatives.

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Says evaluating capital light growth options. Says Latin geography continues to be pressured from the elevated industry capacity, expecting unit revenue down mid-teens in Q2. Says $175M-$200M structural cost program achieved $100M in savings since program start. Says fleet modernization program achieved $70M in total program savings, increased expected size of program from $75M to $100M. Says Pratt & Whitney compensation accounting update driving incremental pressure on full-year CASM-ex Fuel guidance. Says actively exploring further cost savings opportunities in productivity, maintenance spend optimization and technology-enabled efficiencies. Says after deferring aircraft to smooth delivery profile, actively exploring opportunities to extend the life of about 30 A320 aircraft to supplement future growth. Says carrying a healthy unencumbered asset base. Comments taken from Q1 earnings conference call slides.

Continues to expect to grow its dividends per share at a roughly 10% rate per year through at least 2026, off a 2024 base.

Reports Q1 revenue $5.73B, consensus $6.05B. "NextEra Energy delivered strong Q1 results, growing adjusted EPS by approximately 8.3% year-over-year," said CEO John Ketchum. "Both FPL and NextEra Energy Resources delivered solid financial and operating performances to start off the year. FPL placed into service 1,640 megawatts of new, cost-effective solar, while NextEra Energy Resources added approximately 2,765 megawatts of new renewables and storage to its backlog, marking its second-best origination quarter ever and its best quarter for both solar and storage origination. Our two businesses are well positioned to meet future power demand with renewables, storage and transmission, while leveraging our combination of enterprise-wide scale, decades of experience and investment in technology to drive long-term value for customers and shareholders. We will be disappointed if we are not able to deliver financial results at or near the top of our adjusted EPS expectations ranges in each year through 2026, while maintaining our strong balance sheet and credit ratings."

Sees FY24 CASM ex-fuel up mid-to-high single digits y/y. Sees FY24 CapEx ~$1.6B.

Reports Q1 revenue $2.2B, consensus $2.2B. "Thanks to our incredible crewmembers and our reinvigorated focus on improving reliability, our operation performed above plan in the first quarter, resulting in revenue and costs coming in better than expectations," said Joanna Geraghty, JetBlue's chief executive officer. "As we look to the full year, significant elevated capacity in our Latin region, which represents a large portion of JetBlue's network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year. We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again." "We've begun rolling out the initial components of our refocused plan. In the first quarter, we announced a number of significant network changes, which are designed to free up unprofitable flying and reallocate it to proven leisure markets where JetBlue has historically won" said Marty St. George, JetBlue's president. "Demand remained healthy in peak periods, and in particular, we saw encouraging performance from our domestic and transatlantic flying, as well as continued outsized demand for our premium seating options."

Deutsche Bank placed a "Catalyst Call: Buy" on shares of Union Pacific (UNP) as a short-term investment idea. With all the attention Norfolk Southern (NSC) is getting in recent months, it is easy to overlook developments at other railroads, the analyst tells investors in a research note. The firm says Union Pacific is now the worst performing pail stock year-to-date. However, operating metrics "clearly show that UNP's renewed efforts on operations are gaining traction," contends Deutsche Bank. It keeps a Buy rating on the shares with a $266 price target.