Open Now: Crucial Stock Moves & Dividend Alerts Awaiting Inside!

At the commencement of the final trading week in August, the stock market experienced an upswing, as Wall Street sought to recover from a month marked by losses.

This surge in stocks coincides with the technology sector's efforts to stabilize in the latter part of August. Among the 11 different sectors, the Technology Select Sector SPDR Fund (XLK) holds the position of the second weakest performer, outperformed solely by the utilities sector.

In areas outside of the tech sector, the shares of 3M exhibited a notable increase of 4.3% subsequent to a Bloomberg News report. This report indicated that the company was prepared to reach settlements in lawsuits alleging defects in certain earplugs.

The recent trajectory of stock movement reflects a positive session, influenced by recent statements from Federal Reserve Chair Jerome Powell. In his remarks on Friday, Powell acknowledged signs of sustained economic growth and robust consumer spending. However, he also emphasized the central bank's cautious approach to potential future rate hikes.

As of Monday morning, traders were assessing the likelihood of the Federal Reserve implementing another rate hike at the upcoming September meeting. According to CME Group's FedWatch tool, these traders were estimating an approximate 20% probability of such an increase.

As of 11:40 AM ET, the Dow was up +203.68 points, or +0.59%, at 34550.58. The Nasdaq Composite added +77.77 points, or +0.57%, at 13668.42. The S&P 500 rose +18.96 points, or +0.43%, at 4424.67. All 11 major S&P 500 sectors, showed positive movement, with Materials leading the way with a 1.05% increase.

Top Movers: Under $10

GD Culture Group Limited (GDC) is up 61.42% today to trade at the current level of $4.10 after announcing the launch of live-streaming e-commerce business on TikTok.

Hersha Hospitality Trust (HT) zoomed 56.21% in today’s trade to $9.81 following the breaking news of a definitive merger agreement with KSL Capital Partners, LLC.

In current trading, Canoo Inc. (GOEV) stock is at $0.59. The company recently announced that it has named current Board Member Greg Ethridge as Chief Financial Officer, succeeding Ken Manget.

Esperion Therapeutics Inc. (ESPR) rose 10.14% in the early hours of today's trading to move at $1.52. The strong performance of ESPR stock came as investors were encouraged by the news that the company presented two CLEAR outcomes study late-breakers at European Society of Cardiology Congress 2023.

In the current trading session, Baozun Inc. (BZUN) jumped 9.76% to $4.05 over a previous close of $3.69 after releasing second quarter 2023 unaudited financial results.

Ex-Dividends Stocks

Aegon N.V. (AEG) 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 $0.15 per share. The company has fixed August 30 as the record date for the same and will pay the actual dividend on September 27. Last year, the company distributed a total of $0.28 to its shareholders. Based on the last year's worth of payments, AEG has a trailing yield of 5.47% on the current stock price of $5.16.

Another stock that is shelling out dividends tomorrow is Electronic Arts Inc. (EA), having a market capitalization of $32.59B. It will pay a dividend of $0.19 per share, the payment date of which is September 20. Currently, the stock is trading at a trailing dividend yield of 0.63%.

Shares of Fox Corporation (FOXA) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.26 per share, and in the last 12 months, the company paid a total of $0.52 per share. Last year's total dividend payments show that FOXA has a trailing yield of 1.59% on the current share price of $32.67.

Cathay General Bancorp (CATY) is also set to go ex-dividend tomorrow. The next dividend payment from CATY will amount to $0.34 per share. August 30 has been designated as the record date for this dividend, with the actual payout scheduled for September 11. In the previous year, CATY distributed a total of $1.36 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for CATY stands at 3.87% based on the current stock price of $35.16.

Century Communities Inc. (CCS) 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 August 30. Over the past 12 months, CCS has paid out a total of $0.92 per share in dividends. Based on the total dividends paid out last year, CCS boasts an impressive trailing yield of 1.29% on the current share price of $71.14.

Crypto Market Highlights

Most Shorted Stocks

Fate Therapeutics Inc. (FATE) was one of the most shorted stocks as of latest short interest figures, with 36.79% 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 12.6. This represents a change of 650,611 shares, which corresponds to a 2.35% increase in short interest. The total value of the shares held short is estimated to be around $202.19 million. The average daily volume stands at 2.15M shares, and the market capitalization of the company is $252.78M.

The Marathon Digital Holdings Inc. with the symbol MARA currently has a short interest of 26.52%. The short interest has changed by 8970000 shares. The days to cover ratio stands at 1.2. The estimated value of the shares held short is approximately $830.27 million. On an average day, 37.58M shares are traded, with the company's market capitalization totaling $1.88B.

For the stock Sunnova Energy International Inc. (NOVA), the current short interest is at 33.10%, compared to the previous level of 35.50%. This represents a significant short interest change of 105,996 shares, corresponding to a short interest percentage decrease of -0.35%. The days needed to cover the short positions amount to 6.27. The approximate worth of the shares held short is $1.21 billion.

With the symbol CUTR, the stock currently has a short interest of 32.04%, showing an increase from the previous level of 29.88%. The short interest change is 350,168 shares, compared with a short interest percentage change of 7.58%. It would take approximately 4.88 days to cover all the short positions. The shares short value is estimated to be around $148.78 million. The company boasts an average daily volume of 791.49K shares, contributing to a market capitalization of $198.99M.

The stock SWTX has a current short interest of 29.32%, higher than the previous short interest level of 29.31%. The short interest percentage has experienced an increase of 0.02% while there was a change of 2,569 shares in short interest. The ratio indicating the time required to cover short positions is 30.78. The calculated worth of the shorted shares amounts to around $1.42 billion. Trading activity averages at 620.06K shares per day, while the company's market capitalization stands at $1.72B.

Upcoming IPOs

Simpple Ltd. (SPPL) is all set for its debut on the NASDAQ on August 29. They are offering shares in the price range of $5.25 to $6.25. With a total of 1,625,000 shares available, the company aims to raise approximately $9.34M through this IPO.

Inspire Veterinary Partners, Inc. (IVP) will be entering the market with its IPO on August 29, on the NASDAQ. They are offering shares in the price range of $4.00 to $6.00. They plan to offer 1,600,000 shares, targeting a deal size of $8.00M.

Maison Solutions Inc. (MSS) is also scheduled to make its debut on the NASDAQ on August 31. The shares will be offered at a fixed price of $4.00 per share. The IPO includes 3,750,000 shares, aiming for a deal size of $15.00M.

Adlai Nortye Ltd. (ANL) is set to join the NASDAQ on September 01. They are offering shares in the price range of $22.00 to $26.00. They are offering 3,000,000 shares, with an estimated deal size of $72.00M.

Solowin Holdings (SWIN) will be capturing investors' attention as they hit the NASDAQ on September 01. They are offering shares in the price range of $4.00 to $6.00. A total of 2,500,000 shares will be available, with the deal size projected to reach $12.50M.