Dear Readers,

On Thursday, the Dow Jones Industrial Average declined for the fourth consecutive day amid worries about inflation, prompted by a higher-than-anticipated March consumer price index report. This trend was exacerbated by revelations from the Federal Reserve's recent meeting, where concerns about inflation persisting above the 2% target were expressed.

Consequently, Treasury yields surged, maintaining their upward trajectory on Thursday, with the 10-year Treasury note yield remaining above 4.5%.

Meanwhile, in the ongoing earnings season, CarMax experienced a significant drop of over 11% due to disappointing performance in both revenue and profit. The earnings season will kick off officially on Friday with reports from major banks like JPMorgan, Wells Fargo, and Citigroup.

As of 12:34 PM ET, the Dow was down -118.11 points, or -0.3071%, at $38343.41. The Nasdaq Composite added 119.94 points, or 0.67%, at $18131.5916. The S&P 500 rose 7.93 points, or 0.1537%, at $5168.58. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Energy leading the way with a -0.95% decrease.

Top Movers: Under $10

Rallybio Corp (RLYB) is up 66.87% today to trade at the current level of $2.72. This comes after the company announced a collaboration with Johnson & Johnson (NYSE:JNJ).

Eliem Therapeutics Inc (ELYM) zoomed 53.93% in today’s trade to $4.11 after announcing an agreement to acquire Tenet Medicines and concurrent $120 million private placement.

In current trading, Leap Therapeutics Inc (LPTX) stock is at $4.09 following news of $40 million private placement.

Trio Petroleum Corp. (TPET) rose 15.88% in the early hours of today's trading to move at $0.21. The company provided an operational update for Monterey County oil producing assets.

In the current trading session, Candel Therapeutics Inc (CADL) jumped 31.37% to $6.70 over a previous close of $5.10 after receiving FDA orphan drug designation for CAN-2409 for the treatment of Pancreatic Cancer.

Ex-Dividends Stocks

Abbott Laboratories (ABT) 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 $0.55 per share. It has fixed April 15 as the record date for the same and will pay the actual dividend on May 15. Last year, the company distributed a total of $2.08 to its shareholders. Based on the last year's worth of payments, ABT has a trailing yield of 1.88% on the current stock price of $110.71.

Another stock that is shelling out dividends tomorrow is Freeport-McMoRan Inc (FCX), having a market capitalization of $72.24B. It will pay a dividend of $0.15 per share, the payment date of which is May 01. Currently, the stock is trading at a trailing dividend yield of 0.59%.

PNC Financial Services Group Inc (PNC) is also set to go ex-dividend tomorrow. The next dividend payment from PNC will amount to $1.55 per share. April 15 has been designated as the record date for this dividend, with the actual payout scheduled for May 05. In the previous year, PNC distributed a total of $6.15 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for PNC stands at 4.00% based on the current stock price of $153.85.

Trinity Industries, Inc. (TRN) will be paying out a dividend of $0.28 per share to shareholders holding their shares as of the close of the business hours on the record date of April 15. Over the past 12 months, TRN has paid out a total of $1.06 per share in dividends. Based on the total dividends paid out last year, TRN boasts an impressive trailing yield of 3.86% on the current share price of $27.49.

Crypto Market Highlights

• Former FTX CEO, Sam "SBF" Bankman-Fried, requests temporary NYC-area incarceration instead of California after receiving a 25-year prison sentence.

• Circle enables transfers of BlackRock USD Institutional Digital Liquidity Fund (BUIDL) shares to its stablecoin USDC, introducing new smart contract functionality.

• Binance Labs invests in Bitcoin-native restaking protocol BounceBit.

• Paraguayan senators reconsider proposed cryptocurrency mining ban, explore selling excess energy to miners from Itaipu hydropower plant.

• Kraken winds down Monero support for customers in Ireland and Belgium.

Most Shorted Stocks

Imperial Petroleum Inc (IMPP) was one of the most shorted stocks as of the latest short interest figures, with 64.10% 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 6.7. This represents a change of -50000 shares, which corresponds to a -1.32% decrease in short interest. The total value of the shares held short is estimated to be around $14.1 million. The average daily volume stands at 544.85K shares, and the market capitalization of the company is $64.24M.

The MicroCloud Hologram Inc with the symbol HOLO currently has a short interest of 41.64%. The short interest has changed by 273600 shares. The days to cover ratio stands at 0.1. The estimated value of the shares held short is approximately $2.14 million. On an average day, 8.72M shares are traded, with the company's market capitalization totaling $16.87M.

For the stock Cutera Inc (CUTR), the current short interest is at 38.87%. This represents a significant short interest change of 100000 shares, corresponding to a short interest percentage increase of +1.31%. The days needed to cover the short positions amount to 4.3. The approximate worth of the shares held short is $12.79 million.

With the symbol TRUP, the stock currently has a short interest of 40.35%. The short interest change is 390000 shares, compared with a short interest percentage change of +3.14%. It would take approximately 18.7 days to cover all the short positions. The shares short value is estimated to be around $187.94 million. The company boasts an average daily volume of 701.12K shares, contributing to a market capitalization of $1.01B.

The stock IBRX has a current short interest of 41.52%. The short interest percentage has experienced an increase of +2.85% while there was a change of 1520000 shares in short interest. The ratio indicating the time required to cover short positions is 13.6. The calculated worth of the shorted shares amounts to around $78.13 million. Trading activity averages at 4.10M shares per day, while the company's market capitalization stands at $4.11B.

Biotech Stocks to Watch

According to our ST Score evaluation, Viking Therapeutics Inc (VKTX) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 48.0. The stock's financial strength and stock sentiment are strong. However, its value, growth, and Piotroski Score are weak. Additionally, it is neutral in terms of profitability, performance, and forecast.

Our ST Score also classifies Immuron Limited ADR (IMRN) as a high-quality Biotech stock today, presenting a Score of 57.0. The stock has strong fundamentals in terms of performance, financial strength, and stock sentiment. However, it has a weak Piotroski Score and forecast. The value, profitability, and growth are neutral.

Another stock in the category, Veracyte Inc (VCYT) has the ST Score of 54.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability and financial strength. Value, performance, growth, stock sentiment, piotroski score, and forecast suggest a neutral outlook.

Arcturus Therapeutics Holdings Inc (ARCT) stock has the ST Score of 52.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its profitability, and stock sentiment, but its weaknesses are in its financial strength. However, it shows a neutral outlook in value, performance, growth, Piotroski Score, and forecast.

Omeros Corporation (OMER) currently has the ST Score of 46.0, which signifies a huge upward potential. The stock's value, profitability, performance, growth, financial strength, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.

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