Today's noteworthy initiations include: Alstom (ALSMY) initiated with a Neutral at Exane BNP Paribas... Anadarko (APC) initiated with a Neutral at JPMorgan... Antero Resources (AR) initiated with an Underweight at JPMorgan... Apache (APA) initiated with a Neutral at JPMorgan... C.H. Robinson (CHRW) initiated with an Outperform at BMO Capital... CBOE Holdings (CBOE) initiated with an Outperform at RBC Capital... CME Group (CME) initiated with an Underperform at RBC Capital... Cabot Oil & Gas (COG) initiated with a Neutral at JPMorgan... Capital One (COF) initiated with a Neutral at Sterne Agee CRT... Carrizo Oil & Gas (CRZO) initiated with a Neutral at JPMorgan... Cedar Fair (FUN) initiated with a Neutral at Macquarie... Chesapeake (CHK) initiated with a Neutral at JPMorgan... Chipotle (CMG) initiated with an Outperform at CLSA... Cimarex Energy (XEC) initiated with a Neutral at JPMorgan... Concho Resources (CXO) initiated with a Market Perform at Cowen... Continental Resources (CLR) initiated with an Overweight at JPMorgan... Cracker Barrel (CBRL) initiated with a Buy at Maxim... Devon Energy (DVN) initiated with an Overweight at JPMorgan... Diamondback Energy (FANG) initiated with an Overweight at JPMorgan... DreamWorks (DWA) initiated with an Outperform at Macquarie... EOG Resources (EOG) initiated with a Neutral at JPMorgan... EP Energy (EPE) initiated with an Overweight at JPMorgan... EQT Corporation (EQT) initiated with an Overweight at JPMorgan... Eagle Pharmaceuticals (EGRX) initiated with a Buy at Mizuho... Eclipse Resources (ECR) initiated with a Neutral at JPMorgan... Energen (EGN) initiated with a Neutral at JPMorgan... Fitbit (FIT) initiated with a Neutral at Ladenburg... Granite Construction (GVA) initiated with a Buy at Stifel... Gulfport Energy (GPOR) initiated with an Overweight at JPMorgan... Healthcare Realty Trust (HR) initiated with an Overweight at Morgan Stanley... Healthcare Trust (HTA) initiated with an Equal Weight at Morgan Stanley... Hess Corp. (HES) initiated with a Neutral at JPMorgan... Instructure (INST) initiated with an Equal Weight at Morgan Stanley... IntercontinentalExchange (ICE) initiated with a Sector Perform at RBC Capital... Jones Energy (JONE) initiated with an Overweight at JPMorgan... Laredo Petroleum (LPI) initiated with a Market Perform at Cowen... Marathon Oil (MRO) initiated with an Underweight at JPMorgan... Melco Crown (MPEL) initiated with a Buy at Gabelli... Memorial Resource (MRD) initiated with an Overweight at JPMorgan... Murphy Oil (MUR) initiated with a Neutral at JPMorgan... NASDAQ (NDAQ) initiated with an Outperform at RBC Capital... Newfield Exploration (NFX) initiated with an Overweight at JPMorgan... Noble Energy (NBL) initiated with an Overweight at JPMorgan... Oasis Petroleum (OAS) initiated with a Neutral at JPMorgan... PDC Energy (PDCE) initiated with an Overweight at JPMorgan... Parsley Energy (PE) initiated with an Overweight at JPMorgan... Physicians Realty Trust (DOC) initiated with an Underweight at Morgan Stanley... Pioneer Natural (PXD) initiated with an Overweight at JPMorgan... Q2 Holdings (QTWO) initiated with an Outperform at Northland... RSP Permian (RSPP) initiated with a Neutral at JPMorgan... Range Resources (RRC) initiated with a Neutral at JPMorgan... Rice Energy (RICE) initiated with a Neutral at JPMorgan... SM Energy (SM) initiated with a Neutral at JPMorgan... Six Flags (SIX) initiated with a Neutral at Macquarie... Southwestern Energy (SWN) initiated with a Neutral at JPMorgan... Square (SQ) initiated with a Neutral at Susquehanna... Superior Energy (SPN) initiated with a Neutral at Susquehanna... Tutor Perini (TPC) initiated with a Hold at Stifel... Ultra Petroleum (UPL) initiated with an Underweight at JPMorgan... WPX Energy (WPX) initiated with a Market Perform at Cowen... Whiting Petroleum (WLL) initiated with an Overweight at JPMorgan.

Wells Fargo raised the firm's price target on Chipotle to $3,300 from $3,285 and keeps an Overweight rating on the shares. The firm says that Chipotle's Q1 impressed with +7% comps, +5.4% traffic and accelerating Q2 on tap. Throughput initiatives are resonating, the FY24 comp guide steps up and Wells' estimates grind higher.

Baird raised the firm's price target on Chipotle to $3,500 from $3,250 and keeps an Outperform rating on the shares. The firm raised its estimates and target following Q1 results and still sees a favorable risk/reward on shares for investors with a 6-12 month horizon, as they believe premium valuation metrics can be supported by the company's strong near-term operating momentum.

Barclays analyst Benjamin Budish raised the firm's price target on CME Group to $228 from $226 and keeps an Equal Weight rating on the shares. The company's Q1 earnings beat by 1%, driven by both better than expected revenues and lower than expected costs, and the tone of the call was positive, the analyst tells investors in a research note.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSImpinj (PI) up... To see the rest of the story go to thefly.com. See Story Here

Reports Q1 revenue $1.122B, consensus $1.06B. Paul Rady, Chairman, CEO and President of Antero Resources commented, "The improved capital efficiency realized in 2023 continues in 2024. Our consistent focus on operations from our drilling and completion teams once again led to new Company records during the quarter. In the month of March, we set records for most completion stages per day at 12.6 stages per day and most pumping hours for a single completion crew in a month at 588 hours. These were both 7% higher than our previous monthly records. Our capital efficiency and focus on liquids development drove a sequential increase in liquids volumes and led to the production guidance increase for 2024. Further, this growth was achieved while running only two drilling rigs and one completion crew."

For 2024, management is anticipating the following: Full year comparable restaurant sales growth in the mid to high-single digit range; 285 to 315 new restaurant openings with over 80% having a Chipotlane. An estimated underlying effective full year tax rate between 25% and 27% before discrete items.

Reports Q1 revenue $2.7B, consensus $2.67B. Comparable restaurant sales increased 7.0%. "We had another outstanding quarter driven by our improvement in throughput and successful marketing initiatives, including Braised Beef Barbacoa and Chicken Al Pastor, which drove strong sales and transactions. The results we are seeing from our focus on developing exceptional people, preparing delicious food and fast throughput gives me confidence that we can achieve our long-term target of more than doubling our business in North America and expanding internationally," said Brian Niccol, Chairman and CEO, Chipotle.

Pre-earnings options volume in Chipotle is 1.5x normal with puts leading calls 9:7. Implied volatility suggests the market is anticipating a move near 5.3%, or $154.14, after results are released. Median move over the past eight quarters is 7.0%.

Pre-earnings options volume in Antero Resources is 1.5x normal with calls leading puts 7:4. Implied volatility suggests the market is anticipating a move near 3.6%, or $1.12, after results are released. Median move over the past eight quarters is 3.4%.

Notable companies reporting after the market close, with earnings consensus, include Meta Plataforms (META), consensus $4.32... IBM (IBM), consensus $1.60... ServiceNow (NOW), consensus $3.14... Lam Research (LRCX), consensus $7.30... Chipotle Mexican Grill (CMG), consensus $11.68... O'Reilly Automotive (ORLY), consensus $9.26... Ford Motor (F), consensus 42c... United Rentals (URI), consensus $8.32... Align Technology (ALGN), consensus $1.97... Molina Healthcare (MOH), consensus $5.59... Teradyne (TER), consensus 33c... Universa Health Services (UHS), consensus $3.16... Western Union (WU), consensus 41c.

Reports Q1 revenue $1.49B, consensus $1.48B. "CME Group adjusted net income and earnings per share reached new records in Q1 as investors turned to our markets to manage through the ongoing economic and geopolitical uncertainty in today's marketplace," said Terry Duffy, CME Group Chairman and CEO. "Average daily volume in our U.S. Treasury futures and options grew 12% year over year, reaching a new all-time high of 7.8 million contracts per day. Additionally, ADV in our commodities markets increased 14% to 4.7 million contracts. Looking ahead, we remain committed to providing the deep liquidity and unparalleled capital efficiencies our clients rely on as they continue to navigate a wide range of risks across asset classes."