Dear Readers,

Stocks are on the rise this Monday, setting the stage for a week heavily focused on inflation data, with investors keenly watching shifts in expectations for potential Federal Reserve rate cuts this year.

As of 12:28 PM ET, the Dow was down -11.68 points, or -0.0296%, at $39501.17. The Nasdaq Composite added 43 points, or 0.24%, at $18204.1761. The S&P 500 rose 3.06 points, or 0.0586%, at $5225.75. Among the 11 major S&P 500 sectors, 10 showed negative movement, with Utilities leading the way with a -0.94% decrease.

The narrative around these rate adjustments could be significantly influenced by key releases of inflation indicators such as the producer-price index (PPI) and consumer-price index (CPI). Both indices have the power to either reinforce or challenge the prevailing expectations for rate cuts.

Moreover, it's a bustling week for central bank communications, highlighted by Federal Reserve Chair Jerome Powell's speech on Tuesday, alongside several other Fed officials throughout the week. These addresses are expected to provide critical insights into Fed policies and will help clarify if the market's anticipation of a rate cut by September aligns with Fed strategies.

Top Movers: Under $10

CareCloud Inc (CCLD) is up 60.32% today to trade at the current level of $2.02. This comes after the company released details regarding its receipt of an unsolicited, non-binding indication of interest dated March 4, 2024, to acquire the Company for $5.00 per share of its common stock, and the $25 redemption price per share of its 8.75% Series B Cumulative Redeemable Perpetual Preferred Stock.

AC Immune SA (ACIU) zoomed 40.21% in today’s trade to $3.24 after releasing earnings report for the first quarter of 2024.

In current trading, Safety Shot Inc (SHOT) stock is at $1.52 after announcing its collaboration with Gopuff, the leading instant commerce company, to give Safety Shot, easy accessibility to millions of consumers nationwide.

Siyata Mobile Inc (SYTA) rose 18.01% in the early hours of today's trading to move at $3.08 after announcing that its SD7 Handset has been added to the ‘Free Feature Phone for Life' promotion from FirstNet®, Built with AT&T.

In the current trading session, Liveperson Inc (LPSN) jumped 14.32% to $0.66 over a previous close of $0.57. The company announced a new partnership with Avaya designed to unify voice, digital, and AI capabilities into a single omnichannel solution that delivers connected, personalized customer experiences and accelerates enterprise digital transformation.

Ex-Dividends Stocks

AGCO Corp. (AGCO) 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 $0.29 per share. It has fixed May 15 as the record date for the same and will pay the actual dividend on June 14. Last year, the company distributed a total of $0.87 to its shareholders. Based on the last year's worth of payments, AGCO has a trailing yield of 0.75% on the current stock price of $116.29.

Another stock that is shelling out dividends tomorrow is Chemours Company (CC), having a market capitalization of $4.27B. It will pay a dividend of $0.25 per share, the payment date of which is June 14. Currently, the stock is trading at a trailing dividend yield of 2.62%.

Shares of CF Industries Holdings Inc (CF) will be the talk of the stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.5 per share, and in the last 12 months, it paid a total of $1.30 per share. Last year's total dividend payments show that CF has a trailing yield of 1.74% on the current share price of $74.52.

Tomorrow, Kroger Co. (KR) is also set to go ex-dividend tomorrow. The next dividend payment from KR will amount to $0.29 per share. May 15 has been designated as the record date for this dividend, with the actual payout scheduled for June 01. In the previous year, KR distributed a total of $1.13 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for KR stands at 2.03% based on the current stock price of $55.69.

Exxon Mobil Corp. (XOM) will be paying out a dividend of $0.95 per share to shareholders holding their shares as of the close of the business hours on the record date of May 15. Over the past 12 months, XOM has paid out a total of $3.72 per share in dividends. Based on the total dividends paid out last year, XOM boasts an impressive trailing yield of 3.17% on the current share price of $117.36.

Crypto Market Highlights

• Geoffrey Morphy, former President and CEO of Bitfarms steps down immediately after filing a lawsuit against the company in Canada.

• Founder of dYdX, a decentralized exchange, resigns as CEO after seven years.

• OKX crypto exchange dominates 51.08% of Bitcoin Runes' daily trading volume via Web3 marketplace.

• MoonPay contributes an undisclosed amount to Coinbase’s crypto advocacy project, Stand With Crypto.

• Metaplanet, a publicly traded investment firm, adds Bitcoin to reserves amid the Japanese yen decline.

• Blockdaemon expands presence in UAE with a new office and entity in Abu Dhabi.

Most Shorted Stocks

Designer Brands Inc (DBI) was one of the most shorted stocks as of the latest short interest figures, with 29.37% 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 9.1. This represents a change of 1050000 shares, which corresponds to a +9.30% increase in short interest. The total value of the shares held short is estimated to be around $119.57 million. The average daily volume stands at 1.37M shares, and the market capitalization of the company is $559.69M.

The Maxeon Solar Technologies Ltd with the symbol MAXN currently has a short interest of 45.06%. The short interest has changed by 1920000 shares. The days to cover ratio stands at 6.0. The estimated value of the shares held short is approximately $36.81 million. On an average day, 2.32M shares are traded, with the company's market capitalization totaling $138.28M.

For the stock C3is Inc (CISS), the current short interest is at 44.99%. This represents a significant short interest change of 475400 shares, corresponding to a short interest percentage increase of +233.04%. The days needed to cover the short positions amount to 0.6. The approximate worth of the shares held short is $0.94 million.

With the symbol IMPP, the stock currently has a short interest of 42.09%. The short interest change is 260000 shares, compared with a short interest percentage change of +7.12%. It would take approximately 8.0 days to cover all the short positions. The shares short value is estimated to be around $2.59 million. The company boasts an average daily volume of 485.19K shares, contributing to a market capitalization of $110.38M.

The stock PHAT has a current short interest of 41.92%. The short interest percentage has experienced a decrease of -1.91% while there was a change of -230000 shares in short interest. The ratio indicating the time required to cover short positions is 13.4. The calculated worth of the shorted shares amounts to around $37.58 million. Trading activity averages at 884.42K shares per day, while the company's market capitalization stands at $562.66M.

Upcoming IPOs

Games Global Limited (GGL) is all set for its debut on the NYSE exchange on May 14. They are offering shares in the price range of $16.00 to $19.00. With a total of 14,500,000 shares available, the company aims to raise approximately $253.75M through this IPO.

Armlogi Holding Corp. (BTOC) will be entering the market with its IPO on May 14, on the NASDAQ exchange. They are offering shares in the price range of $5.00 to $6.00. They plan to offer 2,000,000 shares, targeting a deal size of $11.00M.

Jiade Limited (JDZG) is also scheduled to make its debut on the NASDAQ exchange on May 15. They are offering shares in the price range of $4.00 to $5.00. The IPO includes 2,200,000 shares, aiming for a deal size of $9.90M.

Kindly MD, Inc. (KDLY) is set to join the NASDAQ on May 15. The shares will be offered at a fixed price of $5.50 per share. They are offering 1,272,727 shares, with an estimated deal size of $7.00M.

Lirum Therapeutics, Inc. (LRTX) is poised to make its grand entrance onto the NASDAQ exchange on May 23. Priced between $10.00 and $12.00 per share, the company plans to offer 2,270,000 shares, aiming to secure around $24.97M through its initial public offering.