Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. GrubHub (GRUB) downgraded to Neutral from Buy at BofA/Merrill, to Neutral from Buy at Monness Crespi, and to Hold from Buy at Maxim. 2. Ford (F) downgraded to Neutral from Buy at Goldman with analyst Patrick Archambault saying share outperformance over the next 6-12 months will be difficult following the carmaker's weaker than expected second quarter results and profit warning for 2016. 3. Starz (STRZA) downgraded to Hold from Buy at Pivotal Research with analyst Jeffrey Wlodarczak saying the Starz/Lionsgate (LGF) pro-forma entity is fairly valued. 4. Western Digital (WDC) downgraded to Hold from Buy at Cross Research with the firm saying the company is either unwilling or unable to provide a reasonable level of precision to the newly combined businesses with SanDisk and the higher than expected cost structure, combined with compensation increases will be a drag. 5. Wynn Resorts (WYNN) downgraded to Reduce from Neutral at Nomura and to Underperform from Outperform at CLSA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Sees Q4 revenue $3.6B-$3.8B, consensus $3.69B.

Reports Q3 GAAP EPS 34c. Reports Q3 revenue $3.46B, consensus $3.36B. "As evidenced by our excellent third quarter results, Western Digital continues improving through-cycle profitability and dampening business cycles by leveraging our strategy of developing a diversified portfolio of industry-leading products across a broad range of end markets," said David Goeckeler, Western Digital CEO. "We are in the early innings of unlocking the full potential of this company, and as industry supply and demand dynamics continue to improve, we will remain disciplined around our capital spending and focused on driving innovation and efficiency across our businesses. We are confident in our strategy and the actions we have taken to-date, which successfully position us to capitalize on the promising growth prospects that lie ahead."

Pre-earnings options volume in Western Digital is 1.4x normal with calls leading puts 7:5. Implied volatility suggests the market is anticipating a move near 6.2%, or $4.32, after results are released. Median move over the past eight quarters is 2.1%.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Wednesday's total option volume of 42.3 million contracts resulted in net open interest growth of 4.78 million calls and 3.88 million puts. Tesla (TSLA), Meta Platforms (Facebook) (META), Ford (F) and NVIDIA (NVDA) saw the greatest growth. Top five new positions opened include 42k Tesla (TSLA) Aug-24 185 calls, 35k Taiwan Semi (TSM) Aug-24 110 calls, 30k Capri Holdings (CPRI) May-24 35 calls, 29k Ford (F) 4/26 weekly 13.5 calls and 26k Tesla (TSLA) 5/3 weekly 75 puts.

Check out this morning's top movers from around Wall Street, compiled by The Fly.  UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

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

Reports Q1 revenue $42.8B, consensus $40.1B. Reports Q4 adjusted EBIT $2.8B.

Notable companies reporting after the market close, with earnings consensus, include Meta Plataforms (META), consensus $4.32... IBM (IBM), consensus $1.60... ServiceNow (NOW), consensus $3.14... Lam Research (LRCX), consensus $7.30... Chipotle Mexican Grill (CMG), consensus $11.68... O'Reilly Automotive (ORLY), consensus $9.26... Ford Motor (F), consensus 42c... United Rentals (URI), consensus $8.32... Align Technology (ALGN), consensus $1.97... Molina Healthcare (MOH), consensus $5.59... Teradyne (TER), consensus 33c... Universa Health Services (UHS), consensus $3.16... Western Union (WU), consensus 41c.

Tuesday's total option volume of 40.6 million contracts resulted in net open interest growth of 5.36 million calls and 4.67 million puts. Tesla (TSLA), AGNC Investment Corp. (AGNC), Amazon (AMZN) and Ford (F) saw the greatest growth. Top five new positions opened include 40k Wal-Mart (WMT) May-24 59 calls, 37k AGNC Investment Corp. (AGNC) Sep-24 8 puts, 36k AGNC Investment Corp. (AGNC) Sep-24 7 puts, 28k Ford (F) 4/26 weekly 13 calls and 26k Cleveland-Cliffs (CLF) May-24 20 calls.