Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apache (APA) downgraded to Underperform from Neutral at Macquarie with analyst Paul Grigel citing a significantly lower revision in crude natural gas prices. The analyst expects Apache to ramp natural gas production in the second half 2017 and into 2018, at a time when he expects a decline in natural gas prices, creating lower cash flow and pressure on estimates given Apache's unhedged position. 2. GoPro (GPRO) downgraded to Underperform from Market Perform at Raymond James and to Underperform from Neutral at Baird. 3. Ralph Lauren (RL) was downgraded to Underweight from Neutral at Piper Jaffray, to Outperform from Buy at CLSA, and to Neutral from Buy at UBS. 4. lululemon (LULU) and Wolverine World Wide (WWW) were downgraded to Sector Weight from Overweight at KeyBanc. 5. Altria Group (MO) downgraded to Hold from Buy at Berenberg. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

OTR Global downgraded its view of Ralph Lauren to Mixed from Positive, citing checks.

The company said, "We reaffirm our 2024 full-year adjusted diluted EPS guidance range of $5.05 to $5.17, representing a growth rate of 2% to 4.5% from a base of $4.95 in 2023. We expect 2024 adjusted diluted EPS growth to be weighted to the second half of the year. Our guidance includes the impact of two additional shipping days in 2024 and assumes limited impact on combustible and e-vapor volumes from enforcement efforts in the illicit e-vapor market. While the 2024 full-year adjusted diluted EPS guidance accounts for a range of scenarios, the external environment remains dynamic. We will continue to monitor conditions related to (i) the economy, including the cumulative impact of inflation, (ii) adult tobacco consumer (ATC) dynamics, including purchasing patterns and adoption of smoke-free products, (iii) illicit e-vapor enforcement and (iv) regulatory, litigation and legislative developments. Our 2024 full-year adjusted diluted EPS guidance range includes planned investments in support of our Vision, such as (i) marketplace activities in support of our smoke-free products and (ii) continued smoke-free product research, development and regulatory preparation expenses. The 2024 full-year adjusted diluted EPS guidance range excludes an estimated per share gain of $1.17 related to the sale of the IQOS Tobacco Heating System commercialization rights that we expect to occur in the second quarter of 2024."

Notable companies reporting before tomorrow's open, with earnings consensus, include Merck (MRK), consensus $1.87... Caterpillar (CAT), consensus $5.14... Comcast (CMSCA), consensus 99c... Honeywell (HON), consensus $2.17... Bristol-Myers (BMY), consensus ($4.44)... Altria (MO), consensus $1.15... Keurig Dr. Pepper (KDP), consensus 35c... GE Vernova (GEV), consensus (37c)... Royal Caribbean (RCL), consensus $1.33... Tractor Supply (TSCO), consensus $1.72... Mobileye (MBLY), consensus (6c)... Textron (TXT), consensus $1.23... LabCorp (LH), consensus $3.48... Southwest Airlines (LUV), consensus (34c)... American Airlines (AAL), consensus (29c)... Harley-Davidson (HOG), consensus $1.51.