Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Neutral from Buy at BofA/Merrill with analyst Vivek Arya saying he fears increased competition from AMD (AMD) in servers and Nvidia (NVDA) share gains in AI and accelerators could limit Intel's average selling price expansion, which he notes has been a key source of its growth. Arya cut his price target on Intel shares to $38 from $42. 2. Target (TGT) downgraded to Neutral from Buy at Citi. 3. Chevron (CVX) downgraded to Neutral from Outperform at Macquarie. 4. Schlumberger (SLB) downgraded to Equal Weight from Overweight at Barclays with analyst J. David Anderson saying that based on strip prices and the firm's oil price forecast he expects 2018 North America E&P spending to be up about 10-15%. 5. Embraer (ERJ) downgraded to Market Perform from Outperform at Cowen with analyst Cai Von Rumohrciting the increasing likelihood of a transitional earnings dip as E2 enters production with another year of cash outflow in 2018. Although 2019 looks notionally better, the stock faces a tough earnings revision set-up in the second half of this year. Von Rumohr lowered his price target to $24 from $27 on Embraer shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Cantor Fitzgerald lowered the firm's price target on Intel to $40 from $45 and keeps a Neutral rating on the shares. Intel's report was not "ideal," and 1H24 trends are coming in worse than expected on broad-based weakness, resulting in a miss on the Q2 guidance, the analyst tells investors in a research note. The good news is that management reiterated its view for year over year growth in calendar 2024, implying a meaningful inflection in the back half of the year, the firm says. While Cantor continues to pull for Intel as the National Champion, the firm remains on the sidelines awaiting greater conviction on the reclaiming of market leadership across the company's various offerings.

Citi lowered the firm's price target on Intel to $35 from $40 and keeps a Neutral rating on the shares. Intel reported decent results but guided below consensus as strength from the PC end market was throttled by an issue in wafer assembly, the analyst tells investors in a research note. Citi's checks indicate Intel is on track to draw even with TSMC in manufacturing sometime next year, which is a positive. However, the company is guiding for well above seasonal growth in the second half of 2024, adds the firm.

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

Notable companies reporting before tomorrow's open, with earnings consensus, include Exxon Mobil (XOM), consensus $2.20... Chevron (CVX), consensus $2.87... AbbVie (ABBV), consensus $2.23... HCA Healthcare (HCA), consensus $5.01... Colgate-Palmolive (CL), consensus 81c... Charter (CHTR), consensus $7.92... AutoNation (AN), consensus $4.27.

Pre-earnings options volume in Intel is normal with calls leading puts 2:1. Implied volatility suggests the market is anticipating a move near 5.6%, or $1.96, after results are released. Median move over the past eight quarters is 7.8%.

Intel (INTC) is scheduled to report results of its fiscal first quarter after the market close on April 25, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here

Chevron announced that its 50% owned affiliate Tengizchevroil has safely commenced operations at its Wellhead Pressure Management Project, or WPMP, at the Tengiz oil field in Kazakhstan. TCO achieved this milestone by converting its first metering station at Tengiz to low pressure and activating the associated Pressure Boost Facility, or PBF. This marks important progress for TCO's overall expansion project at Tengiz. The WPMP is designed to maintain the existing processing plants' full capacity by lowering the flowing pressure at the wellheads and then boosting the pressure to the existing plants.