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Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Caterpillar (CAT) downgraded to Hold from Buy at Deutsche Bank with analyst Nicole DeBlase saying risks are skewed to the downside as consensus estimates have risen and the recovery in mining A/M and incremental cross-cycle margin improvement are reflected in expectations. 2. Hain Celestial (HAIN) downgraded to Neutral from Overweight at JPMorgan with analyst Ken Goldman saying fundamentals have worsened more than feared and guidance seems "slightly" optimistic. 3. Baker Hughes (BHI) downgraded to Hold from Buy at Tudor Pickering. 4. Tanger Factory (SKT) downgraded to Underperform from Neutral at BofA/Merrill with analyst Craig Schmidt citing increased concerns about the moderate outlet space. 5. EnerNOC (ENOC) was downgraded to Market Perform from Outperform at Raymond James and to Neutral from Outperform at Baird. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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

Still does not expect significant change in machine dealer inventory compared to 2023. Still expects 2024 full-year adjusted operating profit margin to be in the top half of the updated target range relative to the expected corresponding level of sales and revenues. Still expects 2024 full-year ME&T free cash flow to be in the top half of the updated target range. Still anticipates another year of services growth.

Sees Q2 dealer inventories of machines down year-over-year. Expects Q2 price realization to remain favorable vs, last year. Sees Q2 adjusted operating profit margin similar to 2Q23. Guidance taken from Q1 investor presentation slides.

Reports Q1 revenue $15.8B, consensus $16.04B. "I'm pleased with our team's performance that resulted in higher adjusted operating profit margin, record adjusted profit per share and strong ME&T free cash flow. Our strong balance sheet and ME&T free cash flow allowed us to deploy a record $5.1 billion of cash for share repurchases and dividends in the first quarter," said Chairman and CEO Jim Umpleby. "We continue to execute our strategy for long-term profitable growth."

Notable companies reporting before tomorrow's open, with earnings consensus, include Merck (MRK), consensus $1.87... Caterpillar (CAT), consensus $5.14... Comcast (CMSCA), consensus 99c... Honeywell (HON), consensus $2.17... Bristol-Myers (BMY), consensus ($4.44)... Altria (MO), consensus $1.15... Keurig Dr. Pepper (KDP), consensus 35c... GE Vernova (GEV), consensus (37c)... Royal Caribbean (RCL), consensus $1.33... Tractor Supply (TSCO), consensus $1.72... Mobileye (MBLY), consensus (6c)... Textron (TXT), consensus $1.23... LabCorp (LH), consensus $3.48... Southwest Airlines (LUV), consensus (34c)... American Airlines (AAL), consensus (29c)... Harley-Davidson (HOG), consensus $1.51.