Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Under Armour (UA) downgraded to Hold at Brean Capital by analyst Eric Tracy who said execution risks are heightened following yesterday's announcement that Chief Merchandising Officer Henry Stafford and Chief Digital Officer Robin Thurston will leave the company in July. Tracy adds that the current "premium valuation that leaves little room for error." 2. Beazer Homes (BZH) downgraded to Neutral at UBS with analyst Susan Maklari saying that the company's earnings are ramping slower than expected amid the moderate housing upturn and its decision to focus on greater cash generation. The analyst last night also downgraded KB Home (KBH) to Sell. 3. GrubHub (GRUB) downgraded to Equal Weight at Morgan Stanley by analyst Dean Prissman, who has a reduced conviction that in-house Delivery will reignite growth in the near to medium term due to a slower than expected ramp in the service. 4. Molina Healthcare (MOH) downgraded to Sell at Goldman with analyst Matthew Borsch saying that he sees a "high likelihood" of another earnings shortfall ahead of or on the next earnings report. 5. Anadarko Petroleum (APC) downgraded to Market Perform and to Neutral at BMO Capital and Credit Suisse, respectively. Credit Suisse analyst Edward Westlake cites limited upside to his unchanged price target of $55 following the recent rally in the 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.

The company states: "The consolidated MCR for the first quarter of 2024 was 88.5%, reflecting changes in member mix due to growth across all segments and continued, strong medical cost management, and is in line with the Company's expectation. The Medicaid MCR for the first quarter of 2024 was 89.7%, in line with the Company's expectation and normal quarter to quarter trend fluctuations within our guidance. The new store additions in California and Nebraska, as well as Iowa and the My Choice Wisconsin acquisition in late-2023, drove a higher reported MCR in the first quarter of 2024. The Medicare MCR for the first quarter of 2024 was 88.7%, in line with the Company's expectations. Utilization in the legacy portfolio was consistent with the second half of 2023, but was offset by operational improvements and benefit adjustments."

Reports Q1 revenue $9.93B, consensus $9.44B. "We are very pleased with our first quarter performance," said Joseph Zubretsky, CEO. "We delivered strong financial performance supported by excellent operating metrics across our business, while sustaining profitable growth consistent with our long-term targets."

Notable companies reporting after the market close, with earnings consensus, include Meta Plataforms (META), consensus $4.32... IBM (IBM), consensus $1.60... ServiceNow (NOW), consensus $3.14... Lam Research (LRCX), consensus $7.30... Chipotle Mexican Grill (CMG), consensus $11.68... O'Reilly Automotive (ORLY), consensus $9.26... Ford Motor (F), consensus 42c... United Rentals (URI), consensus $8.32... Align Technology (ALGN), consensus $1.97... Molina Healthcare (MOH), consensus $5.59... Teradyne (TER), consensus 33c... Universa Health Services (UHS), consensus $3.16... Western Union (WU), consensus 41c.