Today's noteworthy downgrades include: Abengoa Yield (ABY) downgraded to Equal Weight from Overweight at Morgan Stanley... American Airlines (AAL) downgraded to Neutral from Buy at Goldman... Baidu (BIDU) downgraded to Hold from Buy at Summit Research... Banco Santander (SAN) downgraded to Neutral from Overweight at JPMorgan... Barracuda (CUDA) downgraded to Equal Weight from Overweight at Stephens... Basic Energy (BAS) downgraded to In-Line from Outperform at Imperial Capital... C.H. Robinson (CHRW) downgraded to Sell from Neutral at Goldman... Cheetah Mobile (CMCM) downgraded to Neutral from Outperform at Credit Suisse... FleetCor (FLT) downgraded to Hold from Buy at Evercore ISI... Gap (GPS) downgraded to Sell from Neutral at UBS... Genuine Parts (GPC) downgraded to Sell from Neutral at Goldman... Grupo Televisa (TV) downgraded to Hold from Buy at HSBC... ITC Holdings (ITC) downgraded to Sell from Neutral at UBS... Lantheus (LNTH) downgraded to Market Perform from Outperform at Wells Fargo... Rentrak (RENT) downgraded to Buy from Strong Buy at Needham... SQM (SQM) downgraded to Neutral from Overweight at JPMorgan... Sequenom (SQNM) downgraded to Hold from Buy at Jefferies... Team (TISI) downgraded to Equal Weight from Overweight at Stephens... Universal Truckload (UACL) downgraded to Hold from Buy at BB&T.

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

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.  UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

American CFO Devon May said on the company's Q1 call: "Aircraft delivery delays are impacting the entire industry, but they are not having the same impact on American as other carriers since we are not as dependent on new aircraft deliveries as most of our peers. We have modest aircraft CapEx requirements this decade due to our previous refleeting efforts. We now expect our 2024 aircraft CapEx to be approximately $2.2B, our total CapEx to be approximately $3.1B. We continue to expect aircraft CapEx to be approximately $3B to $3.5B per year from 2025 through 2030."

Strengthening the balance sheet remains a top priority for American. In the first quarter, the company reduced total debt by nearly $950 million and has now achieved more than $12 billion, or over 80%, of its goal of reducing total debt by $15 billion by the end of 2025.

The company said, :American is running the best operation in its history because of a steadfast commitment to operational excellence and strong collaboration across the entire airline. The company produced its best-ever first-quarter completion factor and improved its mishandled baggage rate year over year. American achieved these results despite air traffic control challenges and significant weather events across its network during the quarter."

Reports Q1 revenue $12.6B, consensus $12.6B. "The American Airlines team continues to build a reliable, efficient and resilient airline," said American's CEO Robert Isom. "While we aren't satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets. Our team is running a fantastic operation, driving revenue through our commercial initiatives, efficiently managing costs, and producing free cash flow to further strengthen our balance sheet."

Notable companies reporting before tomorrow's open, with earnings consensus, include Merck (MRK), consensus $1.87... Caterpillar (CAT), consensus $5.14... Comcast (CMSCA), consensus 99c... Honeywell (HON), consensus $2.17... Bristol-Myers (BMY), consensus ($4.44)... Altria (MO), consensus $1.15... Keurig Dr. Pepper (KDP), consensus 35c... GE Vernova (GEV), consensus (37c)... Royal Caribbean (RCL), consensus $1.33... Tractor Supply (TSCO), consensus $1.72... Mobileye (MBLY), consensus (6c)... Textron (TXT), consensus $1.23... LabCorp (LH), consensus $3.48... Southwest Airlines (LUV), consensus (34c)... American Airlines (AAL), consensus (29c)... Harley-Davidson (HOG), consensus $1.51.

HSBC analyst Charlene Liu lowered the firm's price target on Baidu to $145 from $157 and keeps a Buy rating on the shares following the company's developer conference. The firm says Baidu's advertising outlook remains more challenging than it expected. It cut estimates on weaker a macro envinrment.