Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Underperform from Market Perform at Raymond James while ON Semiconductor (ON) and Analog Devices (ADI) were downgraded to Market Perform from Outperform. 2. Dollar Tree (DLTR) downgraded to Neutral from Buy at Buckingham with analyst Bob Summers citing recent operating underperformance and the prospect that near-term challenges in the Family Dollar business will negate the strength of the Dollar Tree brand. 3. Cypress Semiconductor (CY) downgraded to Sector Weight from Overweight at KeyBanc with analyst John Vinh saying Asia supply-chain findings left him incrementally more cautious on the company's fundamentals. 4. Vale (VALE) downgraded to Neutral from Outperform at Macquarie. 5. SilverBow Resources (SBOW) downgraded to Hold from Buy at SunTrust with analyst Neal Dingmann saying while the company has built its portfolio while lowering costs and generating efficiencies over the past few years, it is likely to keep spending on "less proven, higher cost acreage" even as investors "remain focused on capital discipline and operating within cash flow," holding its leverage at close to 2-times. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Kimmeridge, the largest shareholder of SilverBow Resources holding 12.9% of outstanding shares, earlier today withdrew its proposal to acquire SilverBow. Kimmeridge said in a statement: "It appears that SilverBow is not willing to seriously engage in any discussions of mergers in which it would be the smaller party. Instead, the Board and management team are focused on maintaining their positions and compensation. Given SilverBow's lack of engagement, Kimmeridge sees no pathway towards a transaction by the April 26, 2024 deadline that we had put forward more than a month ago. As a result, we are withdrawing the Proposal and will be focused on providing solutions for SilverBow's broken governance. The only way SilverBow will maximize value for all shareholders and reach its long-term potential is by introducing new, independent, and experienced perspectives to the Board. The nominees we have put forward are committed to conducting a thorough and unbiased evaluation of all potential paths to value creation - and are bound by none of them, including our prior Proposal. Their only fiduciary duty is to advance the best interests of all SilverBow shareholders." Shares of SilverBow are down 5%, or $1.49, to $30.85 in morning trading.