AMD (AMD) downgraded to Hold from Buy at Ascendiant... Alcatel-Lucent (ALU) downgraded to Neutral from Buy at UBS... ArcelorMittal (MT) downgraded to Underperform from Neutral at Exane BNP Paribas... Cimarex Energy (XEC) downgraded to Underperform from Buy at CLSA... Deutsche Post (DPSGY) downgraded to Hold from Buy at Cantor... EOG Resources (EOG) downgraded to Underperform from Outperform at CLSA... FEI Company (FEIC) downgraded to Neutral from Buy at BofA/Merrill... Fidelity Southern (LION) downgraded to Market Perform at Keefe Bruyette... Flowserve (FLS) downgraded to Perform from Outperform at Oppenheimer... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Exane BNP Paribas... Goldman Sachs (GS) downgraded to Market Perform from Outperform at Keefe Bruyette... H.B. Fuller (FUL) downgraded to Equal-Weight from Overweight at First Analysis... Hain Celestial (HAIN) downgraded to Neutral from Buy at Longbow... Home Bancshares (HOMB) downgraded to Hold from Buy at Wunderlich... Impax (IPXL) downgraded to Sell from Neutral at UBS... Independent Bank (INDB) downgraded to Neutral from Buy at Compass Point... PartnerRe (PRE) downgraded to Market Perform from Outperform at BMO Capital... Pioneer Natural (PXD) downgraded to Underperform from Outperform at CLSA... Reinsurance Group (RGA) downgraded at Raymond James... SanDisk (SNDK) downgraded to Sell from Buy at Drexel Hamilton... Sandy Spring Bancorp (SASR) downgraded to Neutral from Outperform at Baird... Telenor (TELNY) downgraded to Hold from Buy at Deutsche Bank... Travelers (TRV) downgraded to Equal Weight from Overweight at Barclays... USG (USG) downgraded to Buy from Strong Buy at CL King... Voya Financial (VOYA) downgraded at Raymond James... Wayfair (W) downgraded to Neutral from Buy at Goldman... Zumiez (ZUMZ) downgraded to Neutral from Buy at B. Riley.

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.