Today's noteworthy initiations include: Baxalta (BXLT) initiated with an Outperform at Cowen... Customers Bancorp (CUBI) initiated with a Buy at Janney Capital... Google initiated with a Buy at MKM Partners... Gray Television (GTN) initiated with an Outperform at RBC Capital... Horizon Global (HZN) initiated with a Speculative Buy at Global Hunter... Illumina (ILMN) initiated with a Buy at Canaccord... Karyopharm (KPTI) initiated with a Neutral at BofA/Merrill... McClatchy (MNI) initiated with a Buy at Noble Financial... Merge Healthcare (MRGE) initiated with a Buy at Dougherty... Metro Bancorp (METR) initiated with a Neutral at Janney Capital... MiMedx (MDXG) initiated with a Buy at Brean Capital... PayPal (PYPL) initiated with a Neutral at Wedbush... Splunk (SPLK) initiated with an Outperform at RBC Capital... Tempur Sealy (TPX) initiated with a Hold at Cantor... Travelers (TRV) initiated with a Neutral at Piper Jaffray.

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RBC Capital lowered the firm's price target on Travelers to $225 from $230 and keeps a Sector Perform rating on the shares. The company's Q1 results were impacted by larger-than-normal catastrophe losses, but its overall core margin improvement across the platform was solid, the analyst tells investors in a research note. Travelers' Personal Insurance trends also show that rate progress in recent quarters is starting to visibly benefit combined ratios, RBC added.

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Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. UPPING PARENTAL CONTROLS: The... To see the rest of the story go to thefly.com. See Story Here

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Travelers is down -7.1%, or -$15.91 to $207.21.

Travelers is down -6.3%, or -$14.09 to $209.03.

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Truist raised the firm's price target on Alphabet to $170 from $158 and keeps a Buy rating on the shares. The firm is expecting the company to report "solid" Q1 results driven by "healthy" user engagement that continues to drive more ad spending across Search and Social, helped by an ongoing recovery in pricing. Conversations with digital ad agencies suggest that the momentum seen in Q4 was sustained in Q1 across Search and YouTube, though the management's commentary for Q2 may be cautious given the macro environment, with continued emphasis on investments in Cloud and AI, the analyst tells investors in a research note.

Reports Q1 revenue $11.23B, consensus $10.51B. Reports Q1 adjusted book value per share of $125.53. "We are very pleased to report excellent top- and bottom-line results for the first quarter," said Alan Schnitzer, chairman and CEO. "Core income for the quarter was $1.1 billion, or $4.69 per diluted share, generating core return on equity of 15.4%. Strong core income was driven by record net earned premiums of $10.1 billion, up 14% compared to the prior year period, and an excellent combined ratio of 93.9%. The combined ratio improved 1.5 points, notwithstanding elevated catastrophe activity, primarily in the central and eastern regions of the United States. The underlying combined ratio improved 2.9 points to an outstanding 87.7%, driven by strong underlying results in each of our three segments. Our high-quality investment portfolio generated after-tax net investment income of $698 million for the quarter, driven by strong and reliable returns from our growing fixed income portfolio and higher returns from our non-fixed income portfolio. During the quarter, we returned $620 million of capital to shareholders, including $388 million of share repurchases. In recognition of our strong financial position and confidence in the outlook for our business, I am pleased to share that our Board of Directors declared a 5% increase in our quarterly cash dividend to $1.05 per share, marking 20 consecutive years of dividend increases with a compound annual growth rate of 8% over that period."

The U.K. plans to hold talks this month with Apple (AAPL), Meta (META), Alphabet (GOOGL) and others to push a voluntary charter granting parents more control of social media use by young teens, Bloomberg's Ellen Milligan reports. According to people familiar with the matter, ministers want to launch a consultation later this month to gauge ways of limiting the potential harm to children caused by social media, and the proposed voluntary charter may involve tech firms agreeing to alert parents when their children are repeatedly looking up disturbing content. Reference Link