As previously reported, Stephens downgraded Weatherford (WFT) to Underweight from Equal Weight after the company reported Q1 results, with revenues below expectations and severe margin erosion. Analyst Matthew Marietta says he is taking the approach to "shoot-first-ask-questions-later," especially with the company's $600M maturity approaching, reliance on inventory reduction for cash flows, uncertainty surrounding the slope of a recovery and heightened competitive landscape given the Halliburton (HAL) and Baker Hughes (BHI) breakup.

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).

Reports Q1 revenue $5.8B, consensus $5.67B. "Halliburton delivered solid first quarter results that again demonstrated the power of our strategy and the strength of our execution. Activity in North America recovered from fourth-quarter lows, and our international business delivered its 11th consecutive quarter of year-on-year growth," commented Jeff Miller, Chairman, President and CEO. "Our customers' multi-year activity plans across markets and asset types confirms my confidence in the strength and duration of this upcycle. Halliburton demonstrated its commitment to shareholder returns in the first quarter and repurchased $250 million of common stock - a solid start to the year and a good benchmark for our expectations going forward," concluded Miller.