Today's noteworthy upgrades include: AVI BioPharma (AVII) upgraded to Outperform from Neutral at Baird... American Express (AXP) upgraded to Outperform from Market Perform at Bernstein... BreitBurn Energy (BBEP) upgraded to Hold from Sell at Wunderlich... Brink's (BCO) upgraded to Buy from Hold at Gabelli... Charles Schwab (SCHW) upgraded to Buy at BofA/Merrill... Emerald Oil (EOX) upgraded to Neutral from Reduce at SunTrust... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... GP Strategies (GPX) upgraded to Buy from Neutral at Roth Capital... Kennametal (KMT) upgraded to Neutral from Sell at Goldman... NRG Yield (NYLD) upgraded to Overweight from Equal Weight at Barclays... Philip Morris (PM) upgraded to Outperform from Underperform at CLSA... Public Storage (PSA) upgraded on valuation at BMO Capital... QIWI (QIWI) upgraded to Buy from Neutral at UBS... QLogic (QLGC) upgraded to Buy from Hold at Argus... RealPage (RP) upgraded to Market Perform from Underperform at William Blair... Sarepta (SRPT) upgraded to Outperform from Neutral at Baird... Sun Life Financial (SLF) upgraded to Outperform from Sector Perform at Scotia Capital... T2 Biosystems (TTOO) upgraded at Janney Capital on earlier than expected installs... U.S. Bancorp (USB) upgraded to Market Perform from Underperform at Keefe Bruyette... U.S. Physical Therapy (USPH) upgraded to Outperform from Market Perform at Barrington... Vodafone (VOD) upgraded to Outperform from Neutral at Exane BNP Paribas... W. R. Berkley (WRB) upgraded to Neutral from Sell at Goldman... Yandex (YNDX) upgraded to Buy at UBS... comScore (SCOR) upgraded to Outperform from Perform at Oppenheimer.

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Reports Q1 revenue $8.8B, consensus $8.47B. "The strength of our first-quarter results with excellent top-line growth and significant margin expansion gives us the confidence to raise our 2024 currency-neutral guidance. Strong smoke-free momentum continues with rapid underlying volume progression and accelerating organic net revenue and gross profit growth, fueled by the operating leverage of IQOS and the best-in-class economics of ZYN. We are executing efficiently and effectively in a dynamic operating environment of geopolitical and economic tensions that accentuate currency volatility. We are doing our utmost to mitigate these challenges and deliver robust growth and value creation," said Jacek Olczak, Chief Executive Officer.

BMO Capital raised the firm's price target on American Express to $175 from $167 and keeps an Underperform rating on the shares. The firm cites the company's broad-based Q1 earnings beat, with higher than previously-modeled net interest income and slightly lower credit costs being partly offset by higher expected operating expenses. BMO adds however that it remains concerned that American Express's elevated loan restructuring rate could eventually bleed into higher credit provisions.

RBC Capital raised the firm's price target on American Express to $253 from $250 and keeps an Outperform rating on the shares. The company's Q1 results showed a "good quarter" with revenues that met expectations, controlled core expenses, and acceptable credit trends, the analyst tells investors in a research note. While spend volumes continued to moderate, American Express management remains confident on the near and longer term revenue trajectory, the firm added.

Morgan Stanley raised the firm's price target on American Express to $226 from $222 and keeps an Equal Weight rating on the shares following Q1 results that were better than expected, led by net interest income, credit, and expenses. The firm is taking forward EPS up 1%, noting that its 2024 estimate is now above the midpoint of management's EPS guidance at $13.02, though it maintains an Equal Weight rating, citing valuation.