Today's noteworthy initiations include: AVANGRID (AGR) initiated with a Neutral at JPMorgan... Accuray (ARAY) initiated with a Sector Perform at RBC Capital... American Express (AXP) initiated with a Market Perform at JMP Securities... BioTime (BTX) initiated with an Outperform at Oppenheimer... Biota Pharmaceuticals (BOTA) initiated with an Outperform at FBR Capital... Box (BOX) initiated with an Outperform at JMP Securities... CNO Financial (CNO) initiated with an Outperform at Raymond James... Capital One (COF) initiated with a Hold at Evercore ISI... Criteo (CRTO) initiated with a Buy at SunTrust... CyberArk (CYBR) initiated with a Hold at Evercore ISI... CyrusOne (CONE) initiated with an Overweight at JPMorgan... Digital Realty (DLR) initiated with a Neutral at JPMorgan... Discover (DFS) initiated with a Hold at Evercore ISI... Etsy (ETSY) initiated with a Sell at Roth Capital... Fenix Parts (FENX) initiated with a Buy at Roth Capital... Fibrocell Science (FCSC) initiated with a Buy at Roth Capital... Franklin Electric (FELE) initiated with a Sell at Ladenburg... Harman (HAR) initiated with a Neutral at Susquehanna... Karyopharm (KPTI) initiated with a Buy at Canaccord... MPLX (MPLX) initiated with a Neutral at Credit Suisse... Marchex (MCHX) initiated with a Buy at Roth Capital... NantKwest (NK) initiated with a Buy at Canaccord... Nexstar (NXST) initiated with an Outperform at Barrington... Orbital ATK (OA) initiated with a Buy at CL King... Perrigo (PRGO) initiated with an Outperform at Northland... QTS Realty Trust (QTS) initiated with an Overweight at JPMorgan... RPC, Inc. (RES) initiated with a Buy at Guggenheim... Rubicon Project (RUBI) initiated with a Buy at SunTrust... Sorrento Therapeutics (SRNE) initiated with an Outperform at FBR Capital... Travelport (TVPT) initiated with a Neutral at SunTrust... TubeMogul (TUBE) initiated with a Buy at SunTrust... Ultragenyx (RARE) initiated with a Buy at Canaccord... Varian Medical (VAR) initiated with a Sector Perform at RBC Capital... Wayfair (W) initiated with a Neutral at SunTrust... Xencor (XNCR) initiated with a Buy at Canaccord.

Reports Q1 revenue $9.4B, consensus $9.34B.

Alphabet (GOOGL), the parent company of Google, is scheduled to report first quarter 2024 results after the market close on Thursday, April 25, with a conference call scheduled for 4:30 pm Eastern Time. What to watch... To see the rest of the story go to thefly.com. See Story Here

Reports Q1 revenue $377.83M, consensus $390.92M. "Our results reflected a modestly weaker oilfield services activity environment with continued competitive pressures," stated Ben Palmer, RPC's president and CEO. "Our first quarter pressure pumping activity and utilization were below the fourth quarter. Pumping industry capacity remains high, particularly in the Permian, with bidding results and pricing conversations indicating a highly competitive market. We are optimistic that if current oil price momentum holds, our customers would steadily increase activity in the second half of 2024. Looking further out, as large E&P consolidation transactions close and non-core assets are potentially divested, development of this acreage could provide demand tailwinds."

Perrigo announced that pharmaceutical company Esteve Healthcare has signed a binding offer to acquire Perrigo's HRA Pharma Rare Diseases business for a total consideration of up to EUR 275M, consisting of an upfront cash payment of EUR 190M and up to EUR 85M in potential earnout payments based on the Rare Diseases business achieving certain sales milestones. Following the information and consultation process with HRA Pharma Works Council in France, Perrigo would be able to exercise the put option granted by Esteve and enter into a definitive agreement with Esteve for the sale of the Rare Diseases business. The proposed final transaction is expected to close during the third quarter of 2024, subject to the satisfaction of the HRA Works Council consultation and customary closing conditions, including receipt of regulatory approvals.

Bullish option flow detected in Wayfair with 10,218 calls trading, 1.2x expected, and implied vol increasing almost 4 points to 81.40%. May-24 60 puts and Sep-24 60 calls are the most active options, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 0.64. Earnings are expected on May 2nd.

TD Cowen raised the firm's price target on Wayfair to $55 from $50 and keeps a Hold rating on the shares. The firm said they expect the company to report revenue and EBITDA slightly below current consensus estimates when it reports earnings.

Wells Fargo raised the firm's price target on American Express to $265 from $250 and keeps an Overweight rating on the shares. The firm sees a good case for management to express greater confidence in or lean to the upper end of the EPS or revenue guide for 2024. With the macro haze fading, Wells believes investors will come away with a greater appreciation of the competitive position and moat.