Today's noteworthy downgrades include: Grainger (GWW) downgraded to Neutral from Outperform at Baird... Fastenal (FAST) downgraded to Neutral from Outperform at Baird... Airgas (ARG) downgraded to Neutral from Outperform at Baird... Thoratec (THOR) downgraded to Market Perform from Outperform at Raymond James... Thoratec downgraded to Market Perform from Outperform at Leerink... Kinross Gold (KGC) downgraded to Underperform from Sector Perform at RBC Capital... Vital Therapies (VTL) downgraded to Neutral from Outperform at Credit Suisse... Marathon Petroleum (MPC) downgraded to Underperform from Neutral at BofA/Merrill... Marathon Oil (MRO) downgraded to Neutral from Buy at BofA/Merrill... Valero (VLO) downgraded to Underperform from Neutral at BofA/Merrill... 21st Century Fox (FOXA) downgraded to Hold from Buy at Needham... Vital Therapies downgraded to Market Perform from Outperform at William Blair... Vital Therapies downgraded to Neutral from Buy at SunTrust... Microsemi (MSCC) downgraded to Hold from Buy at Drexel Hamilton... Vital Therapies downgraded to Underperform from Buy at BofA/Merrill... Avago (AVGO) downgraded to Sell from Hold at Drexel Hamilton.

W.W. Grainger's board of directors approved a quarterly cash dividend of $2.05 per share, an increase of 10% from the most recent company dividend of $1.86 per share. The dividend is payable on June 1, to shareholders of record on May 13. In addition, the board approved the repurchase of up to 5M shares of the company's outstanding common stock, replacing the company's existing repurchase authorization. The new repurchase authorization has no expiration date. "2024 is on track to be our 53rd consecutive year of increased dividends, upholding Grainger's long-standing commitment to our shareholders. This increase, together with our updated share repurchase authorization, reinforces our ability to continue investing in the business while also returning excess cash to shareholders," said D.G. Macpherson, Grainger CEO.