Dear Readers,

Stocks climbed on Monday, extending gains from the previous session's historic surge to new record levels.

Archer-Daniels-Midland experienced a significant decline of over 19% following the release of a bleak earnings outlook. Additionally, CFO Vikram Luthar was placed on leave amid an investigation related to accounting practices. Meanwhile, B Riley Financial saw a nearly 4% drop after reports from Bloomberg indicated regulatory scrutiny over deals with a client associated with securities fraud.

Monday's positive momentum follows the S&P 500 breaking above its intraday and closing record highs from January 2022 on Friday. This development confirms that Wall Street is currently in a bull run that commenced in October 2022, rebounding from the earlier stock downturn in the same year.

As of 12:15 PM ET, the Dow was up 120.8008 points, or 0.319%, at $37984.6. The Nasdaq Composite added 39.8262 points, or 0.23%, at $17353.83. The S&P 500 rose 12.6201 points, or 0.2608%, at $4852.43. Among the 11 major S&P 500 sectors, 6 showed positive movement, with Health Care leading the way with a 0.85% increase. 

Top Movers: Under $10

Rail Vision Ltd (RVSN) is up 71.17% today to trade at the current level of $2.35. This comes after the company announced that its Main Line system has successfully obtained formal certifications for critical European Union (EU) railway standards.

Phunware Inc (PHUN) zoomed 47.59% in today’s trade to $0.37. The company recently declared a registered direct offering of its shares.

In current trading, Fisker Inc (FSR) stock is at $0.94 following news of a deal with an institutional investor to boost cash flow.

Rumble Inc (RUM) rose 33.98% in the early hours of today's trading to move at $4.81 after reporting its partnership with Barstool Sports, the popular sports, lifestyle, and entertainment brand.

In the current trading session, Coherus Biosciences Inc (CHRS) jumped 10.66% to $2.70 over a previous close of $2.44 after the company announced a $170 million divestment.

Ex-Dividends Stocks

Antero Midstream Corp (AM) 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 $0.23 per share. It has fixed January 24 as the record date for the same and will pay the actual dividend on February 07. Last year, the company distributed a total of $0.90 to its shareholders. Based on the last year's worth of payments, AM has a trailing yield of 7.33% on the current stock price of $12.30.

Another stock that is shelling out dividends tomorrow is Lennar Corp. (LEN), having a market capitalization of $43.91B. It will pay a dividend of $0.5 per share, the payment date of which is February 07. Currently, the stock is trading at a trailing dividend yield of 0.99%.

Shares of Lowe's Cos., Inc. (LOW) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $1.1 per share, and in the last 12 months, it paid a total of $4.38 per share. Last year's total dividend payments show that LOW has a trailing yield of 2.00% on the current share price of $218.87.

Krispy Kreme Inc (DNUT) is also set to go ex-dividend tomorrow. The next dividend payment from DNUT will amount to $0.04 per share. January 24 has been designated as the record date for this dividend, with the actual payout scheduled for February 07. In the previous year, DNUT distributed a total of $0.12 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for DNUT stands at 0.86% based on the current stock price of $13.98.

Clorox Co. (CLX) will be paying out a dividend of $1.2 per share to shareholders holding their shares as of the close of the business hours on the record date of January 24. Over the past 12 months, CLX has paid out a total of $4.83 per share in dividends. Based on the total dividends paid out last year, CLX boasts an impressive trailing yield of 3.39% on the current share price of $142.29.

Crypto Market Highlights

Most Shorted Stocks

Stem Inc (STEM) was one of the most shorted stocks as of latest short interest figures, with 29.33% 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 9.8. This represents a change of 1820000 shares, which corresponds to a +4.47% increase in short interest. The total value of the shares held short is estimated to be around $128.77 million. The average daily volume stands at 4.56M shares, and the market capitalization of the company is $471.60M.

The Emergent Biosolutions Inc with the symbol EBS currently has a short interest of 23.46%. The short interest has changed by 340000 shares. The days to cover ratio stands at 8.4. The estimated value of the shares held short is approximately $22.41 million. On an average day, 1.39M shares are traded, with the company's market capitalization totaling $99.87M.

For the stock Luminar Technologies Inc (LAZR), the current short interest is at 18.45%. This represents a significant short interest change of 4120000 shares, corresponding to a short interest percentage increase of 5.88%. The days needed to cover the short positions amount to 10.4. The approximate worth of the shares held short is $172.0 million.

With the symbol ELVN, the stock currently has a short interest of 28.82%. The short interest change is 200000 shares. It would take approximately 44.9 days to cover all the short positions. The shares short value is estimated to be around $82.54 million. The company boasts an average daily volume of 134.34K shares, contributing to a market capitalization of $627.63M.

The stock SIRI has a current short interest of 28.10%. The short interest percentage has experienced decrease of -1.29% while there was a change of -2290000 shares in short interest. The ratio indicating the time required to cover short positions is 13.9. Trading activity averages at 12.82M shares per day, while the company's market capitalization stands at $20.94B.

Upcoming IPOs

J-Long Group Limited (JL) is all set for its debut on the NASDAQ exchange on January 23. They are offering shares in the price range of $4.00 to $6.00. With a total of 1,400,000 shares available, the company aims to raise approximately $7.00M through this IPO.

HW Electro Co., Ltd. (HWEP) will be entering the market with its IPO on January 24, on the NASDAQ exchange. The shares will be offered at a fixed price of $4.00 per share. They plan to offer 3,750,000 shares, targeting a deal size of $15.00M.

CG Oncology, Inc. (CGON) is also scheduled to make its debut on the NASDAQ exchange on January 25. They are offering shares in the price range of $16.00 to $18.00. The IPO includes 11,800,000 shares, aiming for a deal size of $200.60M.

Perfect Moment Ltd. (PMNT) is set to join the NASDAQ on January 25. They are offering shares in the price range of $6.00 to $7.00. They are offering 2,500,000 shares, with an estimated deal size of $16.25M.

BioLingus (Cayman) Limited (SUBL) is poised for its grand entrance onto the NASDAQ exchange on January 31. The company has fixed the share price at an $20.00. As part of their initial public offering, Sunrise Innovations plans to make available 360,000 shares, with the goal of raising around $7.20M.