Today's noteworthy initiations include: AK Steel (AKS) initiated with a Hold at BB&T...Ambarella (AMBA) initiated with a Buy at Ladenburg...BioMed Realty (BMR) initiated with an Outperform at BMO Capital...Boston Properties (BXP) initiated with an Outperform at BMO Capital...CareTrust REIT (CTRE) initiated with an Overweight at KeyBanc...Chegg (CHGG) initiated with an Overweight at First Analysis...Coach (COH) initiated with an Outperform at RBC Capital...Cognizant (CTSH) initiated with a Buy at SunTrust...Columbia Property (CXP) initiated with a Market Perform at BMO Capital...Discover (DFS) initiated with a Buy at Sterne Agee CRT...Douglas Emmett (DEI) initiated with a Market Perform at BMO Capital...Empire State Realty (ESRT) initiated with an Outperform at BMO Capital...First Solar (FSLR) initiated with a Buy at Janney Capital...Fitbit (FIT) initiated with a Market Perform at Cowen...Franklin Street (FSP) initiated with a Market Perform at BMO Capital...Healthcare Trust (HTA) initiated with a Market Perform at BMO Capital...KapStone (KS) initiated with an Outperform at Wells Fargo...Kroger (KR) initiated with a Buy at Pivotal Research...LeMaitre (LMAT) initiated with a Market Perform at Barrington...Michael Kors (KORS) initiated with a Sector Perform at RBC Capital...New Relic (NEWR) initiated with an Outperform at Oppenheimer...New Senior Investment (SNR) initiated with a Hold at Stifel...Pfenex (PFNX) initiated with a Buy at Evercore ISI...Proofpoint (PFPT) initiated with an Overweight at Morgan Stanley...Rose Rock Midstream (RRMS) initiated with an Outperform at Raymond James...SL Green Realty (SLG) initiated with an Outperform at BMO Capital...Seagate (STX) initiated with a Sell at UBS...SemGroup (SEMG) initiated with an Outperform at Raymond James...Signet Jewelers (SIG) initiated with an Outperform at RBC Capital...Spectra Energy (SE) initiated with an Outperform at Raymond James...SunEdison (SUNE) initiated with a Buy at Janney Capital...SunPower (SPWR) initiated with a Neutral at Janney Capital...Synchrony Financial (SYF) initiated with a Neutral at Sterne Agee CRT...Syntel (SYNT) initiated with a Buy at SunTrust...Tenet (THC) reinstated with an Overweight at Barclays...TerraForm (TERP) initiated with a Buy at Janney Capital...Tiffany (TIF) initiated with a Sector Perform at RBC Capital...U.S. Steel (X) initiated with a Hold at BB&T...ULTA Beauty (ULTA) initiated with a Sector Perform at RBC Capital...WNS Holdings (WNS) initiated with a Neutral at SunTrust...Western Digital (WDC) initiated with a Sell at UBS...Zendesk (ZEN) initiated with an Outperform at William Blair.

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 Q4 revenue $1.7B-$2.0B, consensus $1.85B

Reports Q3 revenue $1.66B, consensus $1.68B. "Seagate's March quarter revenue grew 6% and non-GAAP EPS more than doubled over the December quarter as we benefit from improving cloud demand, our strong operating discipline and price execution. This combination sets the foundation for a return to target margin performance as the markets recover," said Dave Mosley, CEO. "This constructive demand backdrop is well-timed as we prepare to ramp our Mozaic products, anchored by industry-leading HAMR technology. HAMR-based products offer compelling economic value for our customers and position Seagate to drive further financial performance gains, as well as capitalize on favorable long-term demand for mass capacity storage."

Attorney General Bob Ferguson announced he signed onto a pending resolution with Kroger that will bring in $47.5M to combat the opioid epidemic in Washington state. Half of these resources will go to the state and the other half will go to Washington city and county governments. The $47.5M will be paid over 11 years. The first payment of $4.3M will come within a few months of the resolution being finalized by the litigating states and local jurisdictions, Ferguson said in a statement.

Says will continue to buy back stock "hand over fist." Says Cleveland-Cliffs (CLF) "the only U.S. solution" for U.S. Steel (X). Says will have to "re-assess value" of U.S. Steel. Says targeting net debt to EBITDA of 2.5x. Says balance sheet in "great shape, near record liquidity." Sees CapEx ~$1B/year from 2025-2028. Comments taken from Q1 earnings conference call.

As previously reported, Evercore ISI analyst Sean Morgan upgraded First Solar to Outperform from In Line with an unchanged price target of $227. The market is expecting the Biden administration to remove a trade exemption for bifacial solar modules imported to the U.S., which now represent about 98% of U.S. solar imports, the analyst noted. Solar panel imports skyrocketed in 2023 to 54GW and some market participants have stated that reliance on imports and oversupply are negatively impacting solar domestic factories, which have been a priority for the current U.S. administration, putting pressure on greater U.S. trade protections and policy support, the analyst added.

Evercore ISI analyst Sean Morgan upgraded First Solar to Outperform from In Line with a $227 price target.

JPMorgan analyst Ken Goldman added Albertsons (ACI) to the firm's Analyst Focus List as a value idea and placed the stock on "Positive Catalyst Watch" following the fiscal Q4 earnings release. The "gap between the current share price and fair value is too wide," the analyst tells investors in a research note. The firm says its trimming of out-year estimates does not impair Albertsons' standalone value, which it estimates at $24 per share. JPMorgan continues to believe the stock's valuation discount to Kroger (KR) is too wide given the companies similarities. It also believes the probability that Albertsons gets bought has increased, given yesterday's announcement that additional stores and services will be sent C&S's way. The firm says the risk/reward for Albertsons stock "is becoming too appealing to ignore." It keeps an Overweight rating on the name with a $27 price target.