Today's noteworthy downgrades include: American Capital Agency (AGNC) downgraded at UBS... American Public Education (APEI) downgraded to Hold from Buy at Deutsche Bank... Annaly Capital (NLY) downgraded at UBS... C.H. Robinson (CHRW) downgraded to Neutral from Buy at BofA/Merrill... Church & Dwight (CHD) downgraded to Perform from Outperform at Oppenheimer... Cobalt (CIE) downgraded to Hold from Accumulate at Tudor Pickering... Compass Minerals (CMP) downgraded to Neutral from Overweight at JPMorgan... Corning (GLW) downgraded to Sell from Underperform at CLSA... Corporate Office Properties (OFC) downgraded at Stifel... Entergy (ETR) downgraded to Market Perform from Outperform at BMO Capital... First Interstate (FIBK) downgraded to Market Perform from Outperform at Wells Fargo... German American Bancorp (GABC) downgraded to Market Perform at Keefe Bruyette... IGI Laboratories (IG) downgraded to Market Perform from Outperform at Avondale... Lumber Liquidators (LL) downgraded at Longbow... Marvell (MRVL) downgraded at JMP Securities... National Oilwell (NOV) downgraded to Underweight from Equal Weight at Morgan Stanley... Oceaneering (OII) downgraded to Neutral from Buy at Sterne Agee CRT... OpenText (OTEX) downgraded to Sector Performer from Outperformer at CIBC... Parker-Hannifin (PH) downgraded on macro headwinds at Stifel... Pfizer (PFE) downgraded to Neutral from Buy at Citigroup... Procter & Gamble (PG) downgraded to Hold from Buy at Societe Generale... RTI International (RTI) downgraded to Market Perform from Outperform at FBR Capital... Ryder (R) downgraded to Neutral from Buy at Goldman... Stratasys (SSYS) downgraded to Neutral from Buy at Goldman... Targa Resources (TRGP) downgraded to Accumulate from Buy at Global Hunter... Total System (TSS) downgraded to Market Perform from Outperform at Wells Fargo... Twitter (TWTR) downgraded to Equal Weight from Overweight at Barclays... Wynn Resorts (WYNN) downgraded to Neutral at Susquehanna.

The company states: "On a consolidated basis, second quarter 2024 operating results are expected to improve, with EBITDA in the range of $80 million to $90 million on a mid-teens percentage increase in revenue."

Reports Q1 revenue $599.1M, consensus $587.4M. Roderick A. Larson, CEO, stated, "We are encouraged by our first quarter 2024 results. Our adjusted EBITDA was higher than guided, on better-than-expected activity levels across our businesses. Compared to the same quarter last year, our consolidated first quarter 2024 operating income was 37% higher on a 12% increase in revenue, with higher revenue in all of our business segments and improved operating income in each segment except for our Offshore Projects Group (OPG). These results, when combined with our backlog and current levels of bidding activity, support our unchanged guidance for the year."

"We executed well in the first quarter, with results generally in-line with our expectations, which we believe positions us well for the remainder of 2024," said Kevin P. Riley, President and Chief Executive Officer of First Interstate BancSystem, Inc. "With our strong financial performance, we expect to continue to generate improvements in our capital ratios and maintain a healthy dividend for our shareholders."

Tuesday's total option volume of 40.6 million contracts resulted in net open interest growth of 5.36 million calls and 4.67 million puts. Tesla (TSLA), AGNC Investment Corp. (AGNC), Amazon (AMZN) and Ford (F) saw the greatest growth. Top five new positions opened include 40k Wal-Mart (WMT) May-24 59 calls, 37k AGNC Investment Corp. (AGNC) Sep-24 8 puts, 36k AGNC Investment Corp. (AGNC) Sep-24 7 puts, 28k Ford (F) 4/26 weekly 13 calls and 26k Cleveland-Cliffs (CLF) May-24 20 calls.

"We made very important regulatory progress in recent weeks that will deliver meaningful value for customers and provide certainty for all stakeholders," said Drew Marsh, Entergy chair and CEO. "We remain squarely on track with clear line of sight to achieve our commitments in 2024 and beyond."