Today's noteworthy upgrades include: AEGON (AEG) upgraded to Buy from Neutral at SNS Securities... AbbVie (ABBV) upgraded to Conviction Buy from Buy at Goldman... American Eagle (AEO) upgraded to Overweight from Neutral at Piper Jaffray... BP (BP) upgraded to Buy from Hold at Evercore ISI... Chevron (CVX) upgraded to Buy from Hold at Evercore ISI... Diamond Offshore (DO) upgraded to Hold from Sell at Evercore ISI... Enbridge Energy (EEP) upgraded to Buy from Neutral at UBS... Exxon Mobil (XOM) upgraded to Buy from Hold at Evercore ISI... Furmanite (FRM) upgraded to Overweight from Equal Weight at Stephens... Guidance Software (GUID) upgraded to Buy from Hold at Benchmark... Jarden (JAH) upgraded to Top Pick from Outperform at RBC Capital... MBIA (MBI) upgraded to Buy from Neutral at MKM Partners... Red Hat (RHT) upgraded to Buy from Hold at Deutsche Bank... RingCentral (RNG) upgraded to Buy from Hold at Summit Research... Ryanair (RYAAY) upgraded to Outperform from Market Perform at Raymond James... Tata Motors (TTM) upgraded on product expansion, China outlook at Bernstein... Team (TISI) upgraded to Overweight from Equal Weight at Stephens... Williams Partners (WPZ) upgraded to Buy from Neutral at Ladenburg.

Notable companies reporting before tomorrow's open, with earnings consensus, include Exxon Mobil (XOM), consensus $2.20... Chevron (CVX), consensus $2.87... AbbVie (ABBV), consensus $2.23... HCA Healthcare (HCA), consensus $5.01... Colgate-Palmolive (CL), consensus 81c... Charter (CHTR), consensus $7.92... AutoNation (AN), consensus $4.27.

AbbVie announced positive topline results from LEVEL UP, an open-label, efficacy assessor-blinded head-to-head Phase 3b/4 study that evaluated the efficacy and safety of upadacitinib versus dupilumab in adults and adolescents with moderate-to-severe atopic dermatitis who had an inadequate response to systemic therapy or when use of those therapies was inadvisable. In the LEVEL UP study, upadacitinib showed superior efficacy versus dupilumab in the primary endpoint, demonstrating that a significantly higher proportion of patients simultaneously achieved both a 90% or greater reduction in Eczema Area and Severity Index and a Worst Pruritus Numerical Rating Scale of 0 or 1 at Week 16.

Chevron announced that its 50% owned affiliate Tengizchevroil has safely commenced operations at its Wellhead Pressure Management Project, or WPMP, at the Tengiz oil field in Kazakhstan. TCO achieved this milestone by converting its first metering station at Tengiz to low pressure and activating the associated Pressure Boost Facility, or PBF. This marks important progress for TCO's overall expansion project at Tengiz. The WPMP is designed to maintain the existing processing plants' full capacity by lowering the flowing pressure at the wellheads and then boosting the pressure to the existing plants.