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Today's noteworthy upgrades include: ARRIS (ARRS) upgraded to Overweight from Equal Weight at Barclays... Amazon.com (AMZN) upgraded to Outperform from Peer Perform at Wolfe Research... AutoZone (AZO) upgraded to Buy from Hold at Argus... Goldcorp (GG) upgraded to Hold from Underperform at Jefferies... HP (HPQ) upgraded to Buy from Neutral at UBS... HSBC (HSBC) upgraded to Buy from Neutral at Goldman... Ixia (XXIA) upgraded to Buy from Hold at Wunderlich... Manpower (MAN) upgraded to Outperform from Neutral at Macquarie... NVIDIA (NVDA) upgraded to Buy from Neutral at BofA/Merrill... National Grid (NGG) upgraded to Neutral from Sell at Goldman... Newmont Mining (NEM) upgraded to Hold from Underperform at Jefferies... Orbital ATK (OA) upgraded to Overweight from Equal Weight at Barclays... Springleaf (LEAF) upgraded to Buy from Neutral at BofA/Merrill... Supervalu (SVU) upgraded to Buy from Hold at Deutsche Bank... Urban Outfitters (URBN) upgraded to Buy at Janney Capital... XO Group (XOXO) upgraded to Buy from Hold at Stifel.

UBS analyst Stephen Ju raised the firm's price target on Amazon.com to $215 from $198 and keeps a Buy rating on the shares ahead of the Q1 results on April 30. Expectations for revenue seems to be at the high-end of the guidance range of $143.5B, operating income between $13B-$13.5B, and AWS growth is at 15%-16%, the analyst tells investors in a research note. In addition, 2024 will be the first year in some time in which most if not all of the overhangs on Amazon shares should lift to clear the way for the stock to continue to outperform, UBS adds.

Meta (META), Google (GOOGL), Snap (SNAP), and Amazon (AMZN) all benefit from the U.S.' ban of TikTok, The Washington Post's Will Oremus reports. Meta CEO Mark Zuckerberg criticized TikTok's Chinese roots in 2019, part of Meta's broader campaign, Oremus writes. Reference Link

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news.  TIK TOK BAN... To see the rest of the story go to thefly.com. See Story Here

Microsoft (MSFT) is scheduled to report results of the third quarter of its fiscal year 2024 after the market close on Thursday, April 25, with a conference call scheduled for 5:30 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here

"Game On" is The Fly's weekly recap of the stories powering up or beating down video game stocks. NEW RELEASES: This... To see the rest of the story go to thefly.com. See Story Here

In the firm's Q1 letter to investors, David Einhorn's Greenlight Capital disclosed new long positions taken during the quarter, including taking stakes in HP Inc. (HPQ), Penn Entertainment (PENN) and Roivant Sciences (ROIV). In the letter, the firm stated that it established a new "medium-sized position" in Penn at an average price of $22.69 per share, arguing that "were the market to credit PENN with merely 15% of DraftKings' value, [Penn's ESPN BET] segment alone would be worth $20 per share." On HP Inc., Greenlight stated that it had established an initial position at an average price of $30.76 per share, adding that it believes "that we are, at a minimum, on the cusp of a normal PC refresh cycle, which should drive earnings above estimates." On Roivant, Greenlight said it had established a "small long position," adding that "in addition to an exciting pipeline, ROIV has a strong track record of positive trial results and successful monetization of pharmaceutical assets." Einhorn's Greenlight Capital also noted that it reduced its Teck Resources (TECK) long position into strength during Q1 and that the firm bought a "small position" in Liberty Global (LBTYA) during Q1.

Tuesday's total option volume of 40.6 million contracts resulted in net open interest growth of 5.36 million calls and 4.67 million puts. Tesla (TSLA), AGNC Investment Corp. (AGNC), Amazon (AMZN) and Ford (F) saw the greatest growth. Top five new positions opened include 40k Wal-Mart (WMT) May-24 59 calls, 37k AGNC Investment Corp. (AGNC) Sep-24 8 puts, 36k AGNC Investment Corp. (AGNC) Sep-24 7 puts, 28k Ford (F) 4/26 weekly 13 calls and 26k Cleveland-Cliffs (CLF) May-24 20 calls.

Ferrari (RACE) announces that Ferrari S.p.A. has signed a multiyear partnership agreement with HP Inc. (HPQ), through which its brand will appear on racing properties of Scuderia Ferrari.

Wedbush analyst Scott Devitt raised the firm's price target on Amazon.com to $225 from $220 and keeps an Outperform rating on the shares ahead of quarterly results. The firm thinks Amazon is well positioned this year with multiple drivers of sustainable margin expansion in place. The company has reported operating income ahead of Street estimates for five consecutive quarters, and Wedbush estimates Q1 operating income of $11.6B, approximately 5% above consensus. Heading into results, the firm is looking for sustained advertising momentum given positive feedback from advertisers in its Q1 Digital Advertising Survey and from digital advertising agencies, accelerating AWS growth and incremental commentary on AI-related demand, and ongoing improvements in both North America and International retail margins.

Citi analyst Ronald Josey raised the firm's price target on Amazon.com to $235 from $215 and keeps a Buy rating on the shares. The analyst "materially" raised operating income projections on Amazon following an analysis of the company's Advertising and Retail businesses. Citi now projects operating income to reach 10% margins in 2025 on continued advertising strength and improving retail efficiencies. Given faster shipping speeds, the firm believes conversion rates are improving as Amazon's retail business benefits from its regionalization approach with shorter transport distances as the overall cost to serve comes down. Amazon remains one of its top picks across the internet sector.