Today's noteworthy upgrades include: A. Schulman (SHLM) upgraded to Buy from Neutral at Longbow... Allianz (AZSEY) upgraded to Buy from Hold at Deutsche Bank... BAE Systems (BAESY) upgraded to Top Pick from Outperform at RBC Capital... BioCryst (BCRX) upgraded to Buy from Hold at Jefferies... Convergys (CVG) upgraded to Buy from Neutral at Sidoti... Ellie Mae (ELLI) upgraded to Overweight from Equal Weight at Stephens... Genomic Health (GHDX) upgraded to Buy from Hold at Canaccord... HCA Holdings (HCA) upgraded to Outperform from Market Perform at Raymond James... KeyCorp (KEY) upgraded to Buy from Neutral at Nomura... Kingfisher (KGFHY) upgraded to Buy from Hold at Jefferies... LifePoint (LPNT) upgraded to Outperform from Market Perform at Raymond James... Lockheed Martin (LMT) upgraded to Outperform from Sector Perform at RBC Capital... Magellan Midstream (MMP) upgraded to Buy from Neutral at UBS... Masco (MAS) upgraded to Outperform from Neutral at Macquarie... Oracle (ORCL) upgraded to Buy on favorable risk/reward at Evercore ISI... PAREXEL (PRXL) upgraded to Buy from Hold at Evercore ISI... Patterson Companies (PDCO) upgraded to Buy from Hold at Evercore ISI... Paycom (PAYC) upgraded to Overweight from Equal Weight at Barclays... RPC, Inc. (RES) upgraded to Outperform from Market Perform at FBR Capital... Realogy (RLGY) upgraded to Neutral from Underperform at Credit Suisse... SkyWest (SKYW) upgraded to Outperform from Market Perform at Raymond James... Spirit Airlines (SAVE) upgraded to Outperform from Peer Perform at Wolfe Research... TASER (TASR) upgraded to Overweight from Neutral at JPMorgan... Teleflex (TFX) upgraded to Strong Buy from Outperform at Raymond James... WP Glimcher (WPG) upgraded to Buy from Neutral at Goldman... Walgreens Boots Alliance (WBA) upgraded to Buy from Hold at Evercore ISI... Xylem (XYL) upgraded to Outperform from Sector Perform at RBC Capital... iRobot (IRBT) upgraded to Neutral from Underweight at JPMorgan.

Sees FY24 noninterest income up 5%+. Sees relatively stable noninterest expense vs. FY23, net charge-offs 30-40bps, and a GAAP tax rate of about 20%.

In the long term the company expects: positive operating leverage, cash efficiency ratio of 54%-56%, net charge-offs to average loans 40-60 basis points and ROTCE 16%-19%. Guidance taken from Q1 investor presentation slides.

Oracle Corporation Japan "announced that it plans to invest more than $8B over the next 10 years to meet the growing demand for cloud computing and AI infrastructure in Japan. The investment will grow Oracle Cloud Infrastructure's footprint across Japan. In addition, to help customers and partners address the digital sovereignty requirements in Japan, Oracle will significantly expand its operations and support engineering teams with Japan-based personnel. Oracle plans to increase local customer support of its public cloud regions in Tokyo and Osaka and its local operations teams for Oracle Alloy and OCI Dedicated Region. This will enable governments and businesses across Japan to continue to move their mission-critical workloads to the Oracle Cloud and embrace sovereign AI solutions."

JPMorgan upgraded JetBlue (JBLU) to Neutral from Underweight with a $7 price target. The company is increasingly well-positioned for a modest potential move to the upside based on improving market sentiment, and its upcoming Q2 guide coming next week may exceed consensus, the analyst tells investors in a research note. JetBlue is the second least-liked airline based on sell-side ratings, after Spirit (SAVE), with short interest on the stock also remaining "stubbornly high", the firm added.

Notable companies reporting before tomorrow's open, with earnings consensus, include Blackstone (BX), consensus 96c... Elevance Health (ELV), consensus $10.53... D.R. Horton (DHI), consensus $3.06... Genuine Parts (GPC), consensus $2.16... Snap-on (SNA), consensus $4.64... Keycorp (KEY), consensus 22c... Ally Financial (ALLY), consensus 33c... Alaska Air (ALK), consensus ($1.05).