Today's noteworthy initiations include: 21st Century Fox (FOXA) initiated with an Outperform at CLSA... AMC Networks (AMCX) initiated with an Outperform at CLSA... Anadarko (APC) initiated with an Outperform at Cowen... Apache (APA) initiated with a Market Perform at Cowen... Big Lots (BIG) initiated with a Neutral at Sterne Agee CRT... Brunswick (BC) initiated with a Hold at Jefferies... China Lodging (HTHT) initiated with a Neutral at JPMorgan... Cimarex Energy (XEC) initiated with an Outperform at Cowen... Communications Sales & Leasing (CSAL) initiated with an Equal Weight at Morgan Stanley... Conatus (CNAT) initiated with a Buy at Brean Capital... Continental Resources (CLR) initiated with a Market Perform at Cowen... Copart (CPRT) initiated with a Reduce at SunTrust... Devon Energy (DVN) initiated with an Outperform at Cowen... Discovery (DISCA) initiated with an Underperform at CLSA... Enerpulse (ENPT) initiated with a Buy at Roth Capital... Kroger (KR) initiated with a Sector Perform at RBC Capital... Lufthansa (DLAKY) initiated with a Hold at Societe Generale... Mallinckrodt (MNK) reinstated with a Neutral at Goldman... Natural Grocers (NGVC) initiated with an Outperform at RBC Capital... Neuralstem (CUR) initiated with a Buy at MLV & Co.... Noble Energy (NBL) initiated with an Outperform at Cowen... Pioneer Natural (PXD) initiated with an Outperform at Cowen... Range Resources (RRC) initiated with an Outperform at Cowen... RestorGenex (RESX) initiated with a Buy at Maxim... Retrophin (RTRX) initiated with a Buy at Deutsche Bank... Scripps Networks (SNI) initiated with an Underperform at CLSA... Smart & Final Stores (SFS) initiated with an Outperform at RBC Capital... Sprouts Farmers Markets (SFM) initiated with an Outperform at RBC Capital... Starz (STRZA) initiated with an Outperform at CLSA... Supervalu (SVU) initiated with a Sector Perform at RBC Capital... The Fresh Market (TFM) initiated with an Underperform at RBC Capital... Tile Shop (TTS) initiated with a Hold at Topeka... Time Warner (TWX) initiated with a Buy at CLSA... United Natural Foods (UNFI) initiated with an Underperform at RBC Capital... Viacom (VIAB) initiated with a Buy at CLSA... Whole Foods (WFM) initiated with a Sector Perform at RBC Capital.

Sees 2024 revenue $6.0B-$6.2B, consensus $6.03B.

Reports Q1 revenue $1.37B, consensus $1.36B. "Our businesses delivered solid results, consistent with expectations, as our continued market share gains, benefits from a wealth of outstanding new products, and comprehensive cost control measures resulted in financial performance in-line with estimates, despite continued economic uncertainty. Our early season internal boat unit retail performance is tracking with our initial outlook of flat to 2023, with boat show results slightly above prior year levels on a unit basis and with a richer mix of premium products. We continue to support retail sales with levels of marketing and promotions appropriate to the environment, while successfully managing field inventory to target levels ahead of the prime selling season. Marine dealers, manufacturers and retailers continue to demonstrate caution with early-season wholesale ordering patterns, resulting in reduced shipment rates across our product businesses as compared to Q1 2023 in which pipelines were being filled. During the quarter, we successfully completed a planned debt issuance of $400M to cover the refinance of our only near-term debt, further solidifying our cash position and balance sheet," said CEO David Foulkes.

VP of Kroger, Mary Ellen Adcock, disclosed the sale of 82,806 shares of company stock at $55.61 per share on April 23, for a total transaction amount of $4,605,189.

Reports Q1 revenue $645.37M, consensus $659.31M. Production averaged 2.14 Bcfe per day, approximately 68% natural gas.

Attorney General Bob Ferguson announced he signed onto a pending resolution with Kroger that will bring in $47.5M to combat the opioid epidemic in Washington state. Half of these resources will go to the state and the other half will go to Washington city and county governments. The $47.5M will be paid over 11 years. The first payment of $4.3M will come within a few months of the resolution being finalized by the litigating states and local jurisdictions, Ferguson said in a statement.

JPMorgan analyst Ken Goldman added Albertsons (ACI) to the firm's Analyst Focus List as a value idea and placed the stock on "Positive Catalyst Watch" following the fiscal Q4 earnings release. The "gap between the current share price and fair value is too wide," the analyst tells investors in a research note. The firm says its trimming of out-year estimates does not impair Albertsons' standalone value, which it estimates at $24 per share. JPMorgan continues to believe the stock's valuation discount to Kroger (KR) is too wide given the companies similarities. It also believes the probability that Albertsons gets bought has increased, given yesterday's announcement that additional stores and services will be sent C&S's way. The firm says the risk/reward for Albertsons stock "is becoming too appealing to ignore." It keeps an Overweight rating on the name with a $27 price target.