Today's noteworthy initiations include: 8point3 Energy (CAFD) Partners initiated with a Buy at Roth Capital... Albemarle (ALB) initiated with a Buy at BB&T... Asure Software (ASUR) initiated with an Outperform at Northland... Banner Corp. (BANR) initiated with a Market Perform at FBR Capital... BorgWarner (BWA) initiated with a Buy at Northcoast... Cabela's (CAB) initiated with a Buy at MKM Partners... Cameron (CAM) initiated with a Neutral at Macquarie... Chemtura (CHMT) initiated with a Hold at BB&T... Cypress Semiconductor (CY) initiated with an Overweight at Morgan Stanley... DexCom (DXCM) initiated with an Outperform at Baird... FMC Technologies (FTI) initiated with a Neutral at Macquarie... Franklin Electric (FELE) initiated with an Accumulate at Global Hunter... GrubHub (GRUB) initiated with an Outperform at Northland... Guess (GES) initiated with a Buy at Maxim... HubSpot (HUBS) initiated with a Buy at BofA/Merrill... Huntington Bancshares (HBAN) initiated with an Underperform at CLSA... Imprivata (IMPR) initiated with a Buy at Topeka... Insulet (PODD) initiated with a Neutral at Baird... Kraft Heinz (KHC) initiated with a Buy at BofA/Merrill... Marketo (MKTO) initiated with a Neutral at BofA/Merrill... Markit (MRKT) initiated with a Buy at Evercore ISI... McDonald's (MCD) initiated with a Neutral at Cleveland Research... RealPage (RP) initiated with an Outperform at Northland... Rubicon Project (RUBI) initiated with a Buy at Craig-Hallum... Salesforce (CRM) initiated with an Outperform at Northland... SciQuest (SQI) initiated with an Outperform at Northland... Sportsman's Warehouse (SPWH) initiated with a Buy at MKM Partners... Tandem Diabetes (TNDM) initiated with an Outperform at Baird... Textura (TXTR) initiated with an Outperform at Northland... WWE (WWE) initiated with an Outperform at Wells Fargo... Xylem (XYL) initiated with an Accumulate at Global Hunter.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSSnap (SNAP) up... To see the rest of the story go to thefly.com. See Story Here

Pre-earnings options volume in DexCom is 11.4x normal with calls leading puts 11:2. Implied volatility suggests the market is anticipating a move near 5.8%, or $8.05, after results are released. Median move over the past eight quarters is 5.4%.

Reports Q1 revenue $2.04B, consensus $1.98B. CEO Doug Pferdehirt stated, "I am very pleased with the strong performance in the quarter, which further highlights our continuing success in delivering on our commitments. Total company revenue was $2B with adjusted EBITDA of $257M when excluding foreign exchange impacts. We had a solid start to the year with total company inbound of $2.8B, driving sequential growth in backlog to $13.5B...As demonstrated by our financial performance in the quarter, operational execution across the portfolio continues at a high level, driven in part by our heightened focus on project selectivity and the favorable impact it is having on the quality of orders in our backlog. Our strong execution and robust backlog give us confidence that we can capitalize on the strong market and achieve our financial targets. We completed the sale of our Measurement Solutions business in March. In keeping with our commitment to shareholder distributions, a significant portion of the proceeds was allocated to repurchasing $150M of shares in Q1. With this acceleration in share repurchases, we now expect total shareholder distributions in 2024 to grow at least 70% when compared to 2023."

Leerink upgraded Tandem Diabetes to Outperform from Market Perform with a $45 price target.