Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. JetBlue (JBLU) upgraded to Outperform at Cowen due to the belief that April will be the low point for unit revenue. Cowen cites expectations for slower capacity growth in the second half of 2016, an improved balance sheet and upside to the new credit card agreement. 2. National Oilwell (NOV) upgraded two notches to Overweight at Morgan Stanley by analyst Ole Sloreer, who said negative catalysts are played out with the dividend cut and Sete's bankruptcy filing. The analyst said lack of further negative catalysts, a strong balance sheet, and a trough in Q2 make National Oilwell a top contrarian pick. 3. LyondellBasell (LYB) upgraded to Buy at Nomura citing key commodity products of ethylene/polyethylene and key feedstock, ethane, are approaching peak conditions in 2016 as capacity conditions will outstrip demand. 4. Michael Kors (KORS) upgraded to Overweight at Piper Jaffray by analyst Erinn Murphy, who said she now believes the brand is "holding more stable footing on a global scale." She notes Piper's teen survey highlighted Kors as the top handbag brand and that peer Coach (COH) reported solid Q3 results. 5. Stryker (SYK) upgraded to Buy at Sterne Agee CRT with analyst Gregory Chodaczek saying it deserves a premium multiple given best in space fundamentals and near-term levers to expand margins and bolster sales growth. The analyst believes current valuation is too low given its diversified product portfolio and potential of beating his revenue and earnings estimates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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

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

Says more A220s in service than E190s by the end of April. Says expects average of 11 aircraft to be out of service due to GTF issues through year. Says continues to work towards reaching agreement with Pratt & Whitney for compensation. Expects the number of grounded planes to increase above 2024 levels next year. Says continues to opportunistically look at hedging as a means of mitigating risk. Says 100% focused on executing on strategic initiatives.

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

Says evaluating capital light growth options. Says Latin geography continues to be pressured from the elevated industry capacity, expecting unit revenue down mid-teens in Q2. Says $175M-$200M structural cost program achieved $100M in savings since program start. Says fleet modernization program achieved $70M in total program savings, increased expected size of program from $75M to $100M. Says Pratt & Whitney compensation accounting update driving incremental pressure on full-year CASM-ex Fuel guidance. Says actively exploring further cost savings opportunities in productivity, maintenance spend optimization and technology-enabled efficiencies. Says after deferring aircraft to smooth delivery profile, actively exploring opportunities to extend the life of about 30 A320 aircraft to supplement future growth. Says carrying a healthy unencumbered asset base. Comments taken from Q1 earnings conference call slides.

Sees FY24 CASM ex-fuel up mid-to-high single digits y/y. Sees FY24 CapEx ~$1.6B.

Reports Q1 revenue $2.2B, consensus $2.2B. "Thanks to our incredible crewmembers and our reinvigorated focus on improving reliability, our operation performed above plan in the first quarter, resulting in revenue and costs coming in better than expectations," said Joanna Geraghty, JetBlue's chief executive officer. "As we look to the full year, significant elevated capacity in our Latin region, which represents a large portion of JetBlue's network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year. We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again." "We've begun rolling out the initial components of our refocused plan. In the first quarter, we announced a number of significant network changes, which are designed to free up unprofitable flying and reallocate it to proven leisure markets where JetBlue has historically won" said Marty St. George, JetBlue's president. "Demand remained healthy in peak periods, and in particular, we saw encouraging performance from our domestic and transatlantic flying, as well as continued outsized demand for our premium seating options."