Today's noteworthy downgrades include: Analog Devices (ADI) downgraded to Hold from Buy at Drexel Hamilton... Apollo Investment (AINV) downgraded to Equal Weight from Overweight at Barclays... Apple (AAPL) downgraded to Market Perform from Outperform at Cowen... Asbury Automotive (ABG) downgraded to Underperform from Neutral at BofA/Merrill... Autoliv (ALV) downgraded to Neutral from Buy at BofA/Merrill... Biogen (BIIB) downgraded to Neutral at Piper Jaffray after Alzheimer's data... Buffalo Wild Wings (BWLD) downgraded to Mixed from Positive at OTR Global... CF Industries (CF) downgraded to Neutral from Positive at Susquehanna... CONMED (CNMD) downgraded on outlook concerns at Northland... Chesapeake (CHK) downgraded to Neutral from Outperform at Credit Suisse... Comstock Resources (CRK) downgraded to Underperform from Neutral at Credit Suisse... Crescent Point Energy (CPG) downgraded to Equal Weight from Overweight at Barclays... Fifth Third (FITB) downgraded to Neutral from Buy at Citi... Healthstream (HSTM) downgraded to Hold from Buy at Needham... Helix Energy (HLX) downgraded to Accumulate from Buy at Johnson Rice... Illumina (ILMN) downgraded to Neutral from Buy at Janney Capital... LifeLock (LOCK) downgraded to Sector Weight from Overweight at Pacific Crest... Linear Technology (LLTC) downgraded to Hold from Buy at Drexel Hamilton... Mercantile Bank (MBWM) downgraded to Hold from Buy at Sandler O'Neill... Nomura (NMR) downgraded to Neutral from Buy at UBS... Peabody (BTU) downgraded to Neutral from Overweight at JPMorgan... Pentair (PNR) downgraded to Hold from Buy at Jefferies... Regions Financial (RF) downgraded to Hold from Buy at Sandler O'Neill... Rentokil (RTOKY) downgraded to Neutral from Outperform at Credit Suisse... Rex Energy (REXX) downgraded to Underperform from Neutral at Credit Suisse... S&T Bancorp (STBA) downgraded to Neutral from Overweight at Piper Jaffray... STMicroelectronics (STM) downgraded to Neutral from Buy at Citi... Stantec (STN) downgraded on valuation at RBC Capital... TD Ameritrade (AMTD) downgraded to Sell from Neutral at Citi... United Natural Foods (UNFI) downgraded to Equal Weight at Morgan Stanley... United Technologies (UTX) downgraded to Hold from Buy at Deutsche Bank... Valeo (VLEEY) downgraded to Underperform from Neutral at BofA/Merrill... Vertex Energy (VTNR) downgraded to In-Line from Outperform at Imperial Capital... Wilshire Bancorp (WIBC) downgraded to Hold from Buy at Sandler O'Neill... eBay (EBAY) downgraded to Market Perform from Outperform at Raymond James.

BofA raised the firm's price target on Texas Instruments (TXN) to $190 from $175 and keeps a Neutral rating on the shares. TI's small Q1 beat and inline but sequentially rising Q2 sales guidance, "while modest, potentially marks a recovery inflection in industrial chip demand," with positive read-across for U.S. peers such as Analog Devices (ADI), Microchip (MCHP), NXP Semiconductors (NXPI) and On Semiconductor (ON), the analyst tells investors. However, despite an expected recovery, TI's sustained high capex intensity could keep reported calendar year 2024-26 pro-forma EPS below $6 per share, the analyst added.

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

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here

Sees Q2 revenue growth 1%-2% vs. last year, consensus $1.12B.

Berenberg upgraded STMicroelectronics to Buy from Hold with a price target of EUR 49, down from EUR 53. The semiconductors market us "not too far from recovery," the analyst tells investors in a research note. The firm says the negative industry end market trend is now priced into shares and concerns about Chinese auto semiconductor localization are overdone. Also, auto semi content growth should continue, driven by vehicle digitization, contends Berenberg.