Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Philip Morris (PM) downgraded to Underperform from Neutral at Credit Suisse with analyst Alan Erskine saying after conducting a survey of next-generation products users in Japan, the U.S. and the U.K., he believes slower progress in the take-up of heated tobacco products and weaker combustible organic growth will challenge the high-single-digit earnings growth models of Philip Morris and British American Tobacco (BTI). 2. Wabco (WBC) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Courtney Yakavonis saying she is losing conviction that Wabco can return to its "normal" margin and outgrowth framework in FY19, citing rolling global truck markets, recent underperformance in core outgrowth, and sustained margin risks as limiting factors to the previously premium multiple. 3. Kansas City Southern (KSU) and Schneider National (SNDR) were downgraded to Neutral from Overweight at JPMorgan. 4. Illinois Tool Works (ITW) and Flowserve (FLS) were downgraded to Underweight from Equal Weight at Morgan Stanley, while Hubbell (HUBB) was downgraded to Equal Weight from Overweight at Morgan Stanley. 5. Worldpay (WP) downgraded to Outperform from Top Pick at RBC Capital with analyst Daniel Perlin saying while the company trades in line with its peers on a relative price-to-earnings basis, its shares remain attractive given the "conservative" expectations for synergy targets. 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

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

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

Reports Q1 revenue $8.8B, consensus $8.47B. "The strength of our first-quarter results with excellent top-line growth and significant margin expansion gives us the confidence to raise our 2024 currency-neutral guidance. Strong smoke-free momentum continues with rapid underlying volume progression and accelerating organic net revenue and gross profit growth, fueled by the operating leverage of IQOS and the best-in-class economics of ZYN. We are executing efficiently and effectively in a dynamic operating environment of geopolitical and economic tensions that accentuate currency volatility. We are doing our utmost to mitigate these challenges and deliver robust growth and value creation," said Jacek Olczak, Chief Executive Officer.