Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Transocean (RIG) downgraded to Neutral from Buy at Citi with analyst Scott Gruber saying his organic cash burn analysis implies the drillers will burn cash until "at least" 2021. 2. CommScope (COMM) downgraded to Outperform from Strong Buy at Raymond James with analyst Simon Leopold saying he is concerned that performance of the acquired ARRIS business will be worse than expected. 3. Spirit AeroSystems (SPR), Astronics (ATRO), and Barnes Group (B) were downgraded to Sell from Hold at SunTrust while Woodward (WWD) and Ducommun (DCO) were downgraded to Hold from Buy. 4. Melinta Therapeutics (MLNT) downgraded to Underweight from Neutral at JPMorgan with analyst Eric Joseph saying while a market cap valuation of $20M-25M "begs the questions of whether shares have yet reached bottom," he believes the answer is "no." 5. Ashland (ASH) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Barnes Group is up 7.8%, or $2.59 to $35.98.

DA Davidson analyst Matt Summerville upgraded Barnes Group to Buy from Neutral with a price target of $45, up from $35.

Transocean issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs. Deepwater Asgard - awarded a 365-day contract extension in the U.S. Gulf of Mexico at a rate of $505K. Deepwater Skyros - customer exercised a three-well option in Angola at a rate of $400K. The aggregate incremental backlog associated with these fixtures is approximately $248M. As of April 17, 2024, the company's total backlog is approximately $8.9B.