Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Canopy Growth (CGC) upgraded to Buy from Neutral at BofA/Merrill with analyst Christopher Carey saying the stock has fallen 38% since his downgrade two months ago which pointed to the slowdown in orders and relatively high consensus estimates. 2. Schlumberger (SLB) double upgraded to Buy from Sell at Tudor Pickering. 3. Intelsat (I) upgraded to Outperform from Market Perform at Raymond James with analyst Richard Prentiss saying he believes the ~75% pullback over the past 10 days was first related to speculation, and then the confirmation on Monday morning, that the FCC would run a public vs. private auction for 280 MHz. 4. Paycom (PAYC) upgraded to Outperform from Sector Perform at RBC Capital with analyst Alex Zukin saying that after his travel with the company management, he is turning more confident in its ability to "realize price, improve retention, and drive a long runway of continued market disruption and penetration." 5. Tradeweb Markets (TW) upgraded to Buy from Neutral at Goldman Sachs with analyst Alexander Blostein saying the company's "solid" organic revenue growth and expanding operating margins should drive 15% earnings growth in 2020 and 2021. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Sees adjusted expenses: $755 - 805M, trending toward top end of range; Acquisition and Refinitiv Transaction related depreciation and amortization expense: $142M; Assumed non-GAAP tax rate: ~ 24.5% - 25.5% Cash costs of non-acquisition capital expenditures and capitalized software development: $75 - 83M LSEG Market Data Contract Revenue: ~$80M or ~$90M in 2025.

Reports Q1 revenue $408.7M, consensus $411.33M. Reports $1.9 T average daily volume ADV for the quarter, an increase of 39.1% compared to prior year period; quarterly ADV records in fully electronic U.S. High Grade credit, U.S. government bonds, European government bonds, swaps/swaptions = 1-year, European credit, U.S. ETFs, equity convertibles/swaps/options, global repurchase agreements; record 17.6% share of fully electronic U.S. High Grade TRACE..."We had a very strong start to 2024, continuing last year's momentum thanks to broad-based organic growth and a number of important milestones. Our quarterly ADV climbed 39% from the prior year period to a record $1.9 trillion, with several more ADV records set across rates, credit, equities and money markets. Tradeweb captured a record 17.6% share of U.S. High Grade TRACE reflecting steady growth in an area of strategic focus and investment for us. In January, we finalized our acquisition of r8fin, a technology provider that specializes in algorithmic-based execution for U.S. Treasuries and interest rate futures, and we feel great about how this will strengthen our offering with macro hedge funds. In April, we agreed to acquire ICD, a leading institutional investment technology provider for corporate treasury organizations, which will add Corporates as a new client channel with significant cross-sell opportunities. We also recently celebrated the five-year anniversary of Tradeweb's IPO, and we remain laser-focused on keeping continued innovation and collaboration at the heart of Tradeweb's success. Now more than ever, we believe the future of trading is multi-asset class -- and innovative technology is how markets are going to get there."