Today's noteworthy upgrades include: Aeterna Zentaris (AEZS) upgraded to Speculative Buy from Hold at Canaccord... Amplify Snack Brands (BETR) upgraded to Outperform from Neutral at Credit Suisse... Bankrate (RATE) upgraded to Buy from Underperform at BofA/Merrill... Buffalo Wild Wings (BWLD) upgraded to Overweight from Sector Weight at KeyBanc... Enerplus (ERF) upgraded to Buy from Neutral at UBS... Papa John's (PZZA) upgraded to Overweight from Sector Weight at KeyBanc... RSP Permian (RSPP) upgraded to Buy from Hold At Canaccord... Ruckus Wireless (RKUS) upgraded to Conviction Buy from Buy at Goldman... Sonic Automotive (SAH) upgraded to Neutral from Sell at Goldman... Stifel Financial (SF) upgraded to Buy from Neutral at Nomura... Turquoise Hill (TRQ) upgraded to Outperform from Neutral at Macquarie... Walter Investment (WAC) upgraded to Market Perform at Keefe Bruyette.

Sonic Automotive is up 11.4%, or $5.80 to $56.92.

Reports Q1 revenue $1.2B, consensus $1.14B. Ronald Kruszewski, Chairman and CEO, said "Total net revenue of more than $1.16 billion was our second highest quarterly net revenue ever, as the momentum we highlighted at the end of 2023 carried into the first quarter. Record Global Wealth Management revenue and improving market conditions for our Institutional Group drove our top and bottom line growth from the same period a year ago. While the outlook for the remainder of 2024 is not without risk, I remain cautiously optimistic that our diversified business will continue to generate strong returns for this year and beyond."