Today's noteworthy downgrades include: Brown & Brown (BRO) downgraded to Market Perform from Outperform at Wells Fargo... Cabela's (CAB) downgraded to Neutral from Buy at DA Davidson... Cepheid (CPHD) downgraded to Market Perform from Outperform at Raymond James... Discovery (DISCA) downgraded to Neutral from Outperform at Macquarie... GoPro (GPRO) downgraded to Neutral from Overweight at Piper Jaffray... ITV Plc (ITVPF) downgraded to Buy from Conviction Buy at Goldman... K+S (KPLUF) downgraded to Sell from Neutral at UBS... Key Energy (KEG) downgraded to Neutral from Outperform at Baird... Legacy Reserves (LGCY) downgraded to Hold from Buy at Wunderlich... Linde (LNEGY) downgraded to Sell from Neutral at UBS... Metaldyne Performance (MPG) downgraded to Neutral from Buy at Goldman... Oracle (ORCL) downgraded to Market Perform from Outperform at JMP Securities... RLJ Lodging Trust (RLJ) downgraded to Market Perform from Outperform at Wells Fargo... Ryman Hospitality (RHP) downgraded to Underperform from Market Perform at Wells Fargo... Safe Bulkers (SB) downgraded to Sell from Hold at Evercore ISI... Solvay (SVYZY) downgraded to Sell from Neutral at UBS... Stillwater Mining (SWC) downgraded to Sector Performer from Outperformer at CIBC... Transocean (RIG) downgraded to Reduce from Neutral at Seaport Global... Twitter (TWTR) downgraded to Market Perform on limited visibility at JMP Securities... Under Armour (UA) downgraded to Neutral from Overweight at Piper Jaffray... Whiting Petroleum (WLL) downgraded to Hold from Buy at Deutsche Bank.

Oracle Corporation Japan "announced that it plans to invest more than $8B over the next 10 years to meet the growing demand for cloud computing and AI infrastructure in Japan. The investment will grow Oracle Cloud Infrastructure's footprint across Japan. In addition, to help customers and partners address the digital sovereignty requirements in Japan, Oracle will significantly expand its operations and support engineering teams with Japan-based personnel. Oracle plans to increase local customer support of its public cloud regions in Tokyo and Osaka and its local operations teams for Oracle Alloy and OCI Dedicated Region. This will enable governments and businesses across Japan to continue to move their mission-critical workloads to the Oracle Cloud and embrace sovereign AI solutions."

Transocean issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs. Deepwater Asgard - awarded a 365-day contract extension in the U.S. Gulf of Mexico at a rate of $505K. Deepwater Skyros - customer exercised a three-well option in Angola at a rate of $400K. The aggregate incremental backlog associated with these fixtures is approximately $248M. As of April 17, 2024, the company's total backlog is approximately $8.9B.