Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Biogen (BIIB) downgraded to Market Perform from Outperform at Wells Fargo after the company reported the failure of two phase 3 trials for a potential treatment of Alzheimer's disease. 2. Magna (MGA) downgraded to Market Perform from Outperform at BMO Capital with analyst Peter Sklar noting BMW's (BMWYY) lowered 2019 earnings guidance on numerous headwinds reflects how difficult it is for auto manufacturers to grow earnings during a period of flat to declining vehicle production volumes. 3. Munich Re (MURGY) downgraded to Hold from Buy at Jefferies with analyst Philip Kett saying he believes the recent rally leaves less room for valuation upside. 4. Nufarm (NFRMY) downgraded to Neutral from Overweight at JPMorgan with analyst Donald Carducci noting glyphosate is becoming a concern for Bayer (BAYRY) due to a recent U.S. case progressing to phase two. 5. Micron (MU) downgraded to Sell from Neutral at Citi with analyst Christopher Danely saying Micronis trying its best but "you can't swim against a tsunami". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

In an announcement on its website, Rivian (RIVN) said, "For eligible purchasers or lessees of Rivian vehicles who trade in an eligible vehicle as part of the purchase or lease of a qualifying Rivian R1 vehicle, Rivian will provide a discount toward such purchase or lease of a new Rivian R1 vehicle in the amounts indicated in these rules and charging for your new Rivian R1 vehicle at Rivian Adventure Network charging sites at no additional cost for one year. This offer is open only to residents of the United States or Canada who have reached the age of majority in their jurisdiction of residence and who trade-in an eligible vehicle toward the purchase of a qualifying Rivian R1 vehicle. To qualify for the discounts toward the purchase of a Rivian R1 vehicle, you must trade in a vehicle that meets the requirements described in the list below: 2018 or newer Ford (F): F-150, Explorer, Expedition, Bronco excluding Bronco Sport; 2018 or newer Toyota (TM): Tacoma, Tundra, Highlander, 4Runner; 2018 or newer Jeep (STLA): Grand Cherokee, Wrangler, Gladiator; 2018 or newer Audi (AUDVF): Q5, Q7, Q8; 2018 or newer BMW (BMWYY): X3, X5, X7. Rivian R1 vehicle discount: Eligible purchasers/lessees who qualify under these rules will receive a discount toward the purchase or lease of a qualifying new Rivian R1 vehicle in the following amounts: R1T Standard, Standard+ Pack - $3,000 / $4,500 CAD; R1T Large Pack - $4,000 / $6,000 CAD; R1T Max Pack - $5,000 / $7,500 CAD; R1S Large Pack - $1,000 / $1,500 CAD." Reference Link

General Motors (GM) is scheduled to report quarterly results before market open on Tuesday, April 23, with a conference call scheduled for 8:30 am EST, while Ford (F) is scheduled to report after market close on Wednesday, April 24, with a conference call scheduled for 5:00 pm EST. What to watch... To see the rest of the story go to thefly.com. See Story Here