Dear Readers,

Stocks declined on Thursday as Salesforce shares dropped due to a quarterly revenue shortfall and weak guidance. Traders are anticipating the release of crucial U.S. inflation data.

At 10:54 AM ET, the Dow was down -386.4375 points, or -1.0053%, at $38055.1. The Nasdaq Composite lost -127.91 points, or -0.6827%, at $18608.8407. The S&P 500 declined -25.2603 points, or -0.4796%, at $5241.69. Among the 11 major S&P 500 sectors, 6 showed positive movement, with Energy leading the way with a 1.08% increase.

This downturn occurs during a challenging, holiday-shortened trading week. The S&P 500 has decreased by approximately 1%, and the Nasdaq Composite has fallen by 0.4%, putting both indices on track to end their five-week winning streaks. The Dow has plunged over 2%, heading for its second consecutive losing week.

Despite this turbulent week, all three indices are set to close the trading month, which concludes with Friday's closing bell, in positive territory. In May, the Nasdaq Composite and S&P 500 have surged by over 7% and 4%, respectively, while the Dow has seen a modest increase of 0.8%.

Investors are focusing on Friday's release of the personal consumption expenditures price index report for April, which serves as the Federal Reserve's preferred inflation measure.

Top Movers: Under $10

Calidi Biotherapeutics Inc (CLDI) is up 60.59% today to trade at the current level of $0.41.

Sobr Safe Inc (SOBR) zoomed 52.44% in today’s trade to $0.46. This rally can be attributed to news that SOBR Safe, is participating in two national awareness opportunities this week: West Coast Symposium on Addictive Disorders and Lytham Partners Spring Investor Conference.

In current trading, OneMedNet Corp. (ONMD) stock is at $2.53 following news that OneMedNet Corporation has entered into a non-exclusive three (3)-year Master Services Agreement (“MSA”) with an undisclosed U.S.-based medical technology company that affects more than 150 million patients worldwide annually.

Red Robin Gourmet Burgers Inc (RRGB) rose 15.67% in the early hours of today's trading to move at $7.78. The strong performance of RRGB stock came as investors were encouraged by Red Robin Gourmet Burgers, news that it delivered positive comparable restaurant revenue in the first five weeks of the second quarter.

In the current trading session, Xeris Biopharma Holdings Inc (XERS) jumped 15.03% to $2.22 over a previous close of $1.93 as Xeris Biopharma announced positive topline phase 2 clinical data of its investigational XeriSol™-formulated once-weekly subcutaneous (SC) Levothyroxine (XP-8121)

Ex-Dividends Stocks

Union Pacific Corp. (UNP) 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 $1.3 per share. The company has fixed May 31 as the record date for the same and will pay the actual dividend on June 28. Last year, the company distributed a total of $5.20 to its shareholders. Based on the last year's worth of payments, UNP has a trailing yield of 2.29% on the current stock price of $226.96.

Another stock that is shelling out dividends tomorrow is Arch Resources Inc (ARCH), having a market capitalization of $3.04B. It will pay a dividend of $1.11 per share, the payment date of which is June 14. Currently, the stock is trading at a trailing dividend yield of 0.59%.

Shares of Factset Research Systems Inc. (FDS) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $1.04 per share, and in the last 12 months, the company paid a total of $3.92 per share. Last year's total dividend payments show that FDS has a trailing yield of 0.96% on the current share price of $408.37.

Tomorrow, Dow Inc (DOW) is also set to go ex-dividend tomorrow. The next dividend payment from DOW will amount to $0.7 per share. May 31 has been designated as the record date for this dividend, with the actual payout scheduled for June 14. In the previous year, DOW distributed a total of $2.80 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for DOW stands at 4.89% based on the current stock price of $57.29.

T-Mobile US Inc (TMUS) will be paying out a dividend of $0.65 per share to shareholders holding their shares as of the close of the business hours on the record date of May 31. Over the past 12 months, TMUS has paid out a total of $1.30 per share in dividends. Based on the total dividends paid out last year, TMUS boasts an impressive trailing yield of 0.76% on the current share price of $170.01.

Crypto Market Highlights

• According to a latest report, the cryptocurrency market has witnessed over $210 million worth of liquidations across the board, with long positions accounting for 85% of this bloodbath amid the latest market turmoil. Specifically, 92,298 traders have witnessed liquidations worth $210.26 million in long and short positions.

• Cabinet Chairman Akylbek Japarov has proposed using a special cryptocurrency guaranteed by the gold reserves of Kyrgyzstan and Russia for trade between the two countries. The market will eagerly watch this push on to the senate to see approval.

• Mastercard has launched its Mastercard Crypto Credential, enabling its “first peer-to-peer (P2P) pilot transactions” using aliases instead of long and complex blockchain addresses. This new system aims to simplify cryptocurrency transactions for exchange users, offering a more user-friendly approach.

• Former President Donald Trump has been taking a surprising pro-crypto stance in recent weeks, expressing support for Bitcoin and NFTs. His holdings include assets worth more than $10 million, with the Trump (MAGA) token up almost 50X this year.

• The Danish Customs and Tax Administration recently clarified the eligibility criteria for cryptocurrency trading activities under the company regime. In a specific case, a taxpayer who had left his job to focus on day trading Bitcoin and other cryptocurrencies was ruled ineligible for the company regime due to a lack of professional connection to financial markets.

Most Shorted Stocks

Aethlon Medical Inc (AEMD) was one of the most shorted stocks as of latest short interest figures, with 39.59% 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 2.9 Days to Cover. The total value of the shares held short is estimated to be around $0.73 million. The average daily volume stands at 733.33K shares, and the market capitalization of the company is $2.12M.

The Trupanion Inc with the symbol TRUP currently has a short interest of 39.66%. The short interest has changed by -610000 shares. The days to cover ratio stands at 15.2 Days to Cover. The estimated value of the shares held short is approximately $347.16 million. On an average day, 758.41K shares are traded, with the company's market capitalization totaling $1.24B.

For the stock Cutera Inc (CUTR), the current short interest is at 37.12%. This represents a significant short interest change of -50000 shares, corresponding to a short interest percentage decrease of -0.67%. The days needed to cover the short positions amount to 7.4 Days to Cover. The approximate worth of the shares held short is $15.27 million.

With the symbol IBRX, the stock currently has a short interest of 38.03%. The short interest change is -1710000 shares, compared with a short interest percentage change of -3.10%. It would take approximately 7.2 Days to Cover days to cover all the short positions. The shares short value is estimated to be around $48.72 million. The company boasts an average daily volume of 7.20M shares, contributing to a market capitalization of $4.52B.

The stock NOVA has a current short interest of 37.87%. The short interest percentage has experienced decrease of -4.20% while there was a change of -1680000 shares in short interest. The ratio indicating the time required to cover short positions is 3.7 Days to Cover. The calculated worth of the shorted shares amounts to around $245.24 million. Trading activity averages at 9.81M shares per day, while the company's market capitalization stands at $569.69M.

Biotech Stocks to Watch

According to our ST Score evaluation, BioNTech SE ADR (BNTX) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 62.0. The stock's profitability, financial strength, and stock sentiment are strong. However, its growth are weak. Additionally, it is neutral in terms of value, performance, Piotroski Score, and forecast.

Our ST Score also classifies Halozyme Therapeutics Inc. (HALO) as a high-quality Biotech stock today, presenting a Score of 54.0. The stock has strong fundamentals in terms of profitability, and growth. However, it has weak financial strength. The value, performance, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, Ligand Pharmaceuticals, Inc. (LGND) has the ST Score of 57.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, and financial strength but weak in growth. Value, performance, stock sentiment, piotroski score, and forecast suggest a neutral outlook.

Immuron Limited ADR (IMRN) stock has the ST Score of 56.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its valuation, performance, and financial strength, but its weaknesses are in its Piotroski Score. However, it shows neutral outlook in profitability, growth, stock sentiment, and forecast.

Genmab ADR (GMAB) currently has the ST Score of 63.0, which signifies a huge upward potential. The Biotech stock's strong points are its profitability, growth, financial strength, and stock sentiment. The stock's value, performance, Piotroski Score, and forecast indicate a neutral outlook.

Best Regards,
Stocks Telegraph Team