Packages of Beyond Meat Inc. beef crumbles are displayed for a photograph in Tiskilwa, Illinois, on Tuesday, April 23, 2019.

"We initiate coverage of Beyond Meat with an Overweight rating and a $97 price target. We view Beyond's growth opportunity as extraordinary: We model a Total Addressable Market (TAM) for plant-based meat in 15 years of $100B, up to 100x larger than today's. And we think Beyond's sales ultimately could exceed $5B versus $88MM last year (though our price target does not rely on this). We see many other reasons to be constructive on the shares, including that a) BYND only needs to capture a fraction of this expansive TAM to be successful, b) Beyond is a true disruptor with a differentiated product and a commitment to innovation, c) the margin upside is underappreciated, and d) at least one major QSR chain likely will become a customer by the end of the year. All in, we are strongly favorable on the story and see 21% upside to our DCF-based price target."

"We upgrade ATVI to Buy and add to Americas Conviction List (from Neutral) as we see a potential inflection in ATVI's earnings trajectory given (1) the recent release of new content to improve engagement for core titles (e.g., Storm Rising and Workshop mode for Overwatch, Rise of Shadows and The Dalaran Heist for Hearthstone, Rise of Azshara and Classic for WOW); (2) the upcoming release of Diablo Immortal and COD Mobile; and (3) the potential for to-be-announced new content from several undermonetized Blizzard franchises in 2020 and beyond."

"We see LUV shares as range bound until MAX formally returns. Furthermore, while the initial reaction to the lifting of MAX grounding when it finally occurs may be positive, investor expectations for unit revenue growth will likely moderate as planned capacity growth accelerates. Lastly, while declining ex-fuel unit cost in '20 feels like it should be a layup given the magnitude of Boeing-imposed operational inefficiency this year, company remains non-committal. Adding it all up, our rating is lowered to In Line from Outperform."

Citi said the U.S.- China trade war is likely to cut China sales in "half."

"We are proactively slashing our iPhone unit sales as we believe the US/China trade situation will result in a slowdown of Apple iPhone demand in China as China residents shift their purchasing preference to China national brands. Our independent due diligence now shows a less favorable brand image desire for iPhone and this has very recently deteriorated. We are materially lowering our sales and EPS estimates below consensus as China represents 18% of Apple sales which we believe could be cut in half. Within China Apple has 12% unit share (exiting Dec 2018 and ~10% market share for FY18) and we believe these unit shipments could be cut in half. We remain optimistic on Apple services with Apple Arcade to launch in 2H 2019."

Read more about this call here.