Dear Readers,

On Wednesday, the stock market saw an increase, driven by Netflix leading a rally in technology stocks, lifting the overall market to new peaks. 

Microsoft experienced a 1% rise, propelling its market value above $3 trillion, making it the second company, alongside Apple, to achieve such a significant market cap. These gains contributed to the strong performance of mega-cap tech in 2024, propelling the S&P 500 to record levels and confirming a new bull market. Communication services and information technology stocks played a key role in boosting the broad index, both showing more than a 1% increase.

Traders continue to focus on earnings reports, with Tesla, Las Vegas Sands, and IBM scheduled after the market closes. In the current earnings season, over 71% of the reported quarterly financials from S&P 500 companies have exceeded Wall Street expectations, as per FactSet.

As of 11:56 AM ET, the Dow was up 127.7695 points, or 0.3371%, at $38033.22. The Nasdaq Composite added 214.4551 points, or 1.2322%, at $17618.66. The S&P 500 rose 33.79 points, or 0.6946%, at $4898.39. Among the 11 major S&P 500 sectors, 7 showed negative movement, with Utilities leading the way with a -1.48% decrease.

Top Movers: Under $10

Getaround Inc. (GETR) is up 168.61% today to trade at the current level of $0.49. This comes after the company announced $20 million in new financing.

SciSparc Ltd (SPRC) zoomed 52.60% in today’s trade to $5.28 after announcing that it has entered into a standby equity purchase agreement with YA II PN, Ltd., a fund managed by Yorkville Advisors Global, LP.

In current trading, Ault Alliance Inc (AULT) stock is at $0.72. The company provided a business update to its Stockholders.

Baozun Inc ADR (BZUN) rose 14.44% in the early hours of today's trading to move at $2.58 after announcing US$20 million share repurchase program.

In the current trading session, Ensysce Biosciences Inc (ENSC) jumped 19.56% to $1.66 over a previous close of $1.39 after announcing FDA Breakthrough Therapy Designation granted for PF614-MPAR.

Ex-Dividends Stocks

Pfizer Inc. (PFE) is about to trade ex-dividend tomorrow, meaning that investors who buy the stock after tomorrow will not be eligible for the next dividend payment. The company's next dividend payment will be $0.42 per share. It has fixed January 26 as the record date for the same and will pay the actual dividend on March 01. Last year, the company distributed a total of $1.65 to its shareholders. Based on the last year's worth of payments, PFE has a trailing yield of 5.78% on the current stock price of $28.60.

Another stock that is shelling out dividends tomorrow is Union Bankshares, Inc. (UNB), having a market capitalization of $138.91M. It will pay a dividend of $0.36 per share, the payment date of which is February 01. Currently, the stock is trading at a trailing dividend yield of 4.68%.

Shares of Unum Group (UNM) will be the talk of stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.36 per share, and in the last 12 months, it paid a total of $1.39 per share. Last year's total dividend payments show that UNM has a trailing yield of 2.94% on the current share price of $47.17.

Franklin Street Properties Corp. (FSP) is also set to go ex-dividend tomorrow. The next dividend payment from FSP will amount to $0.01 per share. January 26 has been designated as the record date for this dividend, with the actual payout scheduled for February 15. In the previous year, FSP distributed a total of $0.04 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for FSP stands at 1.62% based on the current stock price of $2.46.

Signet Jewelers Ltd (SIG) will be paying out a dividend of $0.23 per share to shareholders holding their shares as of the close of the business hours on the record date of January 26. Over the past 12 months, SIG has paid out a total of $0.94 per share in dividends. Based on the total dividends paid out last year, SIG boasts an impressive trailing yield of 0.96% on the current share price of $98.52.

Crypto Market Highlights

Most Shorted Stocks

Zynex Inc (ZYXI) was one of the most shorted stocks as of latest short interest figures, with 26.69% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 15.6. This represents a change of 90000 shares, which corresponds to a +1.80% increase in short interest. The total value of the shares held short is estimated to be around $55.95 million. The average daily volume stands at 340.36K shares, and the market capitalization of the company is $371.88M.

The Canada Goose Holdings Inc with the symbol GOOS currently has a short interest of 26.63%. The short interest has changed by 260000 shares. The days to cover ratio stands at 8.8. The estimated value of the shares held short is approximately $161.85 million. On an average day, 1.59M shares are traded, with the company's market capitalization totaling $1.23B.

With the symbol CNK, the stock currently has a short interest of 26.53%. The short interest change is 980000 shares, compared with a short interest percentage change of +3.52%. It would take approximately 9.5 days to cover all the short positions. The company boasts an average daily volume of 3.01M shares, contributing to a market capitalization of $1.70B.

The stock GES has a current short interest of 26.54%. The short interest percentage has experienced increase of +4.95% while there was a change of 340000 shares in short interest. The ratio indicating the time required to cover short positions is 7.5. The calculated worth of the shorted shares amounts to around $657.61 million. Trading activity averages at 939.86K shares per day, while the company's market capitalization stands at $1.22B.

AI Stocks to Watch

According to our ST Score evaluation, Broadcom Inc (AVGO) emerges as a high-quality stock in the AI industry, attaining an impressive score of 59.0. The stock's profitability, performance, stock sentiment, and Piotroski Score are strong. However, its value, and financial strength are weak. Additionally, it is neutral in terms of growth, and forecast.

Our ST Score also classifies Sap SE ADR (SAP) as a high-quality AI stock today, presenting a Score of 58.0. The stock has strong fundamentals in terms of profitability, performance, stock sentiment, and Piotroski Score. However, it has weak growth, and financial strength. The value, and forecast are neutral.

Another stock in the category, Digital Realty Trust Inc (DLR) has the ST Score of 57.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and stock sentiment but weak in value. Growth, financial strength, piotroski score, and forecast suggest a neutral outlook.

Juniper Networks Inc (JNPR) stock has the ST Score of 56.0 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and Piotroski Score, but its weaknesses are in its value, growth, and financial strength. However, it shows neutral outlook in stock sentiment, and forecast.

Advanced Micro Devices Inc. (AMD) currently has the ST Score of 56.0, which signifies a huge upward potential. The AI stock's strong points are its performance, growth, stock sentiment, and Piotroski Score, while its weak points are its value, and profitability. The stock's financial strength, and forecast indicate a neutral outlook.