Midday Overview: Top Energy Stars & Under-the-Radar $10 Stocks

The Nasdaq Composite climbed on Friday, fueled by a strong post-earnings surge in Netflix, as Wall Street aimed to wrap up a record-breaking week. So far, over 70 S&P 500 companies have reported earnings, with 75% exceeding expectations, according to FactSet data.

As of 11:30 AM ET, the Dow was down -66.1602 points, or -0.153%, at $43172.89. The Nasdaq Composite added 157.4609 points, or 0.7799%, at $20347.885. The S&P 500 rose 20.32 points, or 0.35%, at $5861.8. Among the 11 major S&P 500 sectors, 8 showed positive movement, with Communication Services leading the way with a 0.53% increase.

Friday’s gains followed a rally in Travelers, which helped drive the Dow to a new all-time closing high on Thursday. While the S&P 500 edged slightly lower after hitting a fresh intraday high, the Nasdaq Composite finished modestly in positive territory.

Although market volatility has been rising before the upcoming election, stocks may continue to rally through November, according to Rob Williams, chief investment strategist at Sage Advisory. Williams believes this rally could defy typical election-year trends, driven by investors already factoring in a potential win for Republican nominee Donald Trump, whose policies favor businesses, particularly in areas like taxes and regulation.

Top Movers: Under $10

Tenon Medical Inc (TNON) is up 16.91% today to trade at the current level of $4.01. This comes after the company announced the issuance of U.S. Patent Nos. 12,115,075, 12,115,076 and 12,115,077.

D-MARKET Electronic Services & Trading ADR (HEPS) zoomed 47.73% in today’s trade to $3.25 after announcing founder and other affiliates’ entry into an agreement with Joint Stock Company Kaspi.kz to sell all their Class A shares and Class B shares.

In current trading, Tevogen Bio Holdings Inc. (TVGN) stock is at $1.84 after announcing top-line revenue forecast for its oncology pipeline, projecting $1 billion in revenue in its launch year and a cumulative 5-year estimate of between $10 billion and $14 billion.

HeartCore Enterprises Inc (HTCR) rose 15.15% in the early hours of today's trading to move at $1.14 after announcing preliminary third quarter 2024 financial results.

In the current trading session, SAIHEAT Ltd. (SAIH) jumped 16.77% to $0.99 over a previous close of $0.85. The company announced the signing of a Memorandum of Understanding (MoU) for HEATNUC products.

Ex-Dividends Stocks

Caterpillar Inc. (CAT) is about to trade ex-dividend Monday, 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 $1.41 per share. It has fixed October 21 as the record date for the same and will pay the actual dividend on November 20. Last year, the company distributed a total of $5.31 to its shareholders. Based on the last year's worth of payments, CAT has a trailing yield of 1.36% on the current stock price of $391.40.

Shares of Bank Of New York Mellon Corp (BK) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.47 per share, and in the last 12 months, it paid a total of $1.73 per share. Last year's total dividend payments show that BK has a trailing yield of 2.26% on the current share price of $76.68.

Tomorrow, Associated Capital Group Inc (AC) is also set to go ex-dividend on Monday. The next dividend payment from AC will amount to $2 per share. October 21 has been designated as the record date for this dividend, with the actual payout scheduled for November 04. In the previous year, AC distributed a total of $0.20 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for AC stands at 0.47% based on the current stock price of $42.30.

Graco Inc. (GGG) will be paying out a dividend of $0.26 per share to shareholders holding their shares as of the close of the business hours on the record date of October 21. Over the past 12 months, GGG has paid out a total of $1.00 per share in dividends. Based on the total dividends paid out last year, GGG boasts an impressive trailing yield of 1.16% on the current share price of $85.96.

Crypto Market Highlights

• Crypto.com cites recent court rulings against the SEC as potentially beneficial in its ongoing legal battle with the regulator.

• Singapore's DBS Bank launches "DBS Token Services," enabling real-time payment settlements via its blockchain for institutional clients.

• The SEC’s latest appeal in the Ripple case does not challenge the court’s decision that XRP is not a security.

• RAK DAO in the UAE plans to introduce a legal framework for decentralized autonomous organizations (DAOs) in its digital assets-free zone.

• The Central Bank of the UAE grants in-principle approval to AED Stablecoin under its Payment Token Service Regulation framework.

  Most Shorted Stocks

Applied Optoelectronics Inc (AAOI) was one of the most shorted stocks as of latest short interest figures, with 28.32% 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 4.6. This represents a change of -390000 shares, which corresponds to a -3.42% decrease in short interest. The total value of the shares held short is estimated to be around $213.68 million. The average daily volume stands at 2.45M shares, and the market capitalization of the company is $793.05M.

For the stock MARA Holdings Inc. (MARA), the current short interest is at 26.78%. This represents a significant short interest change of -5080000 shares, corresponding to a short interest percentage decrease of -6.29%. The days needed to cover the short positions amount to 2.0. The approximate worth of the shares held short is $1.42 billion.

With the symbol CHPT, the stock currently has a short interest of 27.86%. The short interest change is -4780000 shares, compared with a short interest percentage change of -4.18%. It would take approximately 8.5 days to cover all the short positions. The shares short value is estimated to be around $103.76 million. The company boasts an average daily volume of 11.72M shares, contributing to a market capitalization of $589.11M.

The stock SPCE has a current short interest of 26.72%. The short interest percentage has experienced increase of +4.39% while there was a change of 300000 shares in short interest. The ratio indicating the time required to cover short positions is 4.2. The calculated worth of the shorted shares amounts to around $804.75 million. Trading activity averages at 1.46M shares per day, while the company's market capitalization stands at $209.33M.

Energy Stocks to Watch

According to our ST Score evaluation, Texas Pacific Land Corporation (TPL) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 65. The stock's profitability, performance, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of growth, stock sentiment, and forecast.

Our ST Score also classifies NCS Multistage Holdings Inc (NCSM) as a high-quality Energy stock today, presenting a Score of 64. The stock has strong fundamentals in terms of profitability, growth, financial strength, and Piotroski Score. The performance, stock sentiment, and forecast are neutral.

Another stock in the category, PHX Minerals Inc (PHX) has the ST Score of 63, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, financial strength, and Piotroski Score but weak in growth. Stock sentiment, and forecast suggest a neutral outlook.

Dynagas LNG Partners LP (DLNG) stock has the ST Score of 62 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its performance, financial strength, and Piotroski Score, but its weaknesses are in its growth. However, it shows neutral outlook in profitability, stock sentiment, and forecast.

Dorchester Minerals LP (DMLP) currently has the ST Score of 62, which signifies a huge upward potential. The Energy stock's strong points are its profitability, performance, financial strength, and Piotroski Score. The stock's growth, stock sentiment, and forecast indicate a neutral outlook.

Best Regards,
Stocks Telegraph Team