Today's noteworthy initiations include: Akoustis (AKTS) initiated with an Outperform at Northland... B&G Foods (BGS) initiated with a Market Perform at BMO Capital... BOK Financial (BOKF) initiated with a Market Perform at Wells Fargo... C&J Energy (CJES) initiated with a Neutral at Credit Suisse... Capital One (COF) reinstated with a Neutral at Credit Suisse... Globant (GLOB) initiated with a Buy at SunTrust... Old Dominion (ODFL) initiated with a Hold at Evercore ISI... Orbotech (ORBK) initiated with an Overweight at JPMorgan... PacWest Bancorp (PACW) initiated with an Outperform at Wells Fargo... RPC, Inc. (RES) initiated with a Neutral at Credit Suisse... Rackspace (RAX) initiated with a Neutral at Goldman... Sportsman's Warehouse (SPWH) initiated with an Outperform at Barrington... Synovus (SNV) initiated with a Market Perform at Wells Fargo... U.S. Silica (SLCA) initiated with an Outperform at Credit Suisse... Urban Edge (UE) initiated with an Equalweight at Capital One... Yelp (YELP) initiated with a Neutral at Guggenheim.

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

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."

Barclays lowered the firm's price target on Old Dominion to $205 from $210 and keeps an Equal Weight rating on the shares. Old Dominion's Q1 came in a touch shy of our forecast, though commentary on the forward outlook is encouraging, the analyst tells investors in a research note. The firm views the post-earnings negative stock reaction "as a bit overdone."

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Jefferies raised the firm's price target on Yelp to $43 from $42 and keeps a Hold rating on the shares. In a preview note for the U.S. Internet group, the firm says it will be looking for signs of sustainability in elevated ARPU growth at Yelp, especially as locations/app MAUs remain in decline.

Reports Q1 revenue $1.46B, consensus $1.47B Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, "Old Dominion's financial results improved during the first quarter despite continued softness in the domestic economy. For the second straight quarter, both our revenue and earnings per diluted share increased on a year-over-year basis. We achieved these results by continuing to execute our long-term strategic plan, which is centered on our ability to provide our customers with superior service at a fair price. The combination of our 99% on-time service and 0.1% claims ratio has created an unmatched value proposition in our industry, which continues to support our yield management initiatives as well as our ongoing ability to win market share.