Dear Readers,

The S&P 500 reached a new all-time high on Thursday, driven by Wall Street's reaction to the latest quarterly earnings from Nvidia, a key player in the market. 

As of 12:02 PM ET, the Dow was down -237.0273 points, or -0.5975%, at $39434.01. The Nasdaq Composite added 136.36 points, or 0.729%, at $18841.5666. The S&P 500 rose 16.5601 points, or 0.312%, at $5323.57. Among the 11 major S&P 500 sectors, 9 showed negative movement, with Consumer Cyclical leading the way with a 1.03% decrease. 

The renowned chipmaker and leader in artificial intelligence saw its stock jump by 9%, pushing its share price above $1,000. This surge followed Nvidia’s release of stronger-than-expected fiscal first-quarter results and the announcement of a 10-for-1 stock split.

Nvidia’s outlook for the fiscal second quarter also impressed, with projected revenue of approximately $28 billion, surpassing the LSEG consensus forecast of $26.61 billion. This optimistic guidance suggests the company anticipates continued strong performance. Analysts are forecasting a profit of $5.95 per share for the next quarter.

Nvidia’s results have been closely watched by Wall Street, as investors seek confirmation that enthusiasm around AI remains robust. Given Nvidia's substantial market cap of $2.3 trillion, its performance significantly influences the broader S&P 500 index.

Top Movers: Under $10

OneMedNet Corp. (ONMD) is up 139.20% today to trade at the current level of $1.17. This comes after the company announced a greater than five (5)-fold expansion of its proprietary iRWD™ network and platform.

Altamira Therapeutics Ltd (CYTO) zoomed 30.07% in today’s trade to $1.86 after announcing dissemination of positive results from Bentrio trial in Seasonal Allergic Rhinitis through Social Media channels of Top Allergy Journal.

In current trading, Actelis Networks Inc (ASNS) stock is at $0.66 following the signing of a binding term sheet to acquire between 61% to 75% of the issued and outstanding shares of Quality Industrial Corporation, a Nevada corporation (OTC: QIND), subject to customary terms for closing.

P3 Health Partners Inc (PIII) rose 19.50% in the early hours of today's trading to move at $0.60. The company announced that it has entered into definitive agreements to sell securities in a private placement with certain institutional investors.

In the current trading session, T Stamp Inc (IDAI) jumped 20.18% to $0.78 over a previous close of $0.65 after announcing that it has received from USPTO an allowance notification for utility patent #17/719,975 entitled “Personal Identifiable Information Encoder”.

Ex-Dividends Stocks

Atmos Energy Corp. (ATO) 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 $0.81 per share. It has fixed May 28 as the record date for the same and will pay the actual dividend on June 10. Last year, the company distributed a total of $2.35 to its shareholders. Based on the last year's worth of payments, ATO has a trailing yield of 2.03% on the current stock price of $115.53.

Another stock that is shelling out dividends tomorrow is Keycorp (KEY), having a market capitalization of $13.94B. It will pay a dividend of $0.2 per share, the payment date of which is June 14. Currently, the stock is trading at a trailing dividend yield of 5.54%.

Shares of Northrop Grumman Corp. (NOC) will be the talk of the stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $2.06 per share, and in the last 12 months, it paid a total of $7.48 per share. Last year's total dividend payments show that NOC has a trailing yield of 1.58% on the current share price of $472.16.

Tractor Supply Co. (TSCO) is also set to go ex-dividend tomorrow. The next dividend payment from TSCO will amount to $1.1 per share. May 28 has been designated as the record date for this dividend, with the actual payout scheduled for June 11. In the previous year, TSCO distributed a total of $4.19 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for TSCO stands at 1.49% based on the current stock price of $281.97.

Voya Financial Inc (VOYA) will be paying out a dividend of $0.4 per share to shareholders holding their shares as of the close of the business hours on the record date of May 28. Over the past 12 months, VOYA has paid out a total of $1.40 per share in dividends. Based on the total dividends paid out last year, VOYA boasts an impressive trailing yield of 1.88% on the current share price of $74.43.

Crypto Market Highlights

• House lawmakers push SEC to approve spot Ether ETFs; bipartisan letter sent to SEC Chair Gary Gensler.

• Hong Kong’s Securities and Futures Commission considers adding an Ether staking option for spot ETH ETF issuers.

• SEC starts discussions with potential issuers of spot Ether ETFs, raising hopes for imminent approval.

• Nigerian Federal Inland Revenue Service accuses the Nigerian Correctional Service of not presenting Binance executive Tigran Gambaryan in court for a tax evasion case.

• Bybit CEO Ben Zhou addresses rumors about the platform being hacked and insolvent in a post on X.

• U.S. House of Representatives passes legislation for digital asset regulatory clarity with a 279 to 136 vote on H.R.4763 (FIT21 Act).

Most Shorted Stocks

Big Lots Inc (BIG) was one of the most shorted stocks as of latest short interest figures, with 28.38% 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 5.1r. This represents a change of 450000 shares, which corresponds to a +6.29% increase in short interest. The total value of the shares held short is estimated to be around $25.84 million. The average daily volume stands at 1.40M shares, and the market capitalization of the company is $100.40M.

The Microvision Inc. with the symbol MVIS currently has a short interest of 25.23%. The short interest has changed by 360000 shares. The days to cover ratio stands at 23.7. The estimated value of the shares held short is approximately $58.39 million. On an average day, 2.67M shares are traded, with the company's market capitalization totaling $232.49M.

For the stock Anavex Life Sciences Corporation (AVXL), the current short interest is at 25.15%. This represents a significant short interest change of -720000 shares, corresponding to a short interest percentage decrease of -3.27%. The days needed to cover the short positions amount to 16.6. The approximate worth of the shares held short is $92.19 million.

With the symbol EDIT, the stock currently has a short interest of 24.93%. The short interest change is 1740000 shares, compared with a short interest percentage change of +9.28%. It would take approximately 10.3 days to cover all the short positions. The shares short value is estimated to be around $124.12 million. The company boasts an average daily volume of 2.03M shares, contributing to a market capitalization of $479.15M.

The stock TGTX has a current short interest of 27.08%. The short interest percentage has experienced an increase of +5.99% while there was a change of 2140000 shares in short interest. The ratio indicating the time required to cover short positions is 10.0. The calculated worth of the shorted shares amounts to around $359.77 million. Trading activity averages at 3.70M shares per day, while the company's market capitalization stands at $2.71B.

Biotech Stocks to Watch

According to our ST Score evaluation, Kiora Pharmaceuticals Inc (KPRX) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 64.0. The stock's valuation, profitability, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of performance, growth, stock sentiment, and forecast.

Our ST Score also classifies Lipocine Inc (LPCN) as a high-quality Biotech stock today, presenting a Score of 56.0. The stock has strong fundamentals in terms of growth, financial strength, and stock sentiment. However, it has a weak Piotroski Score. The value, profitability, performance, and forecast are neutral.

Another stock in the category, Palisade Bio Inc (PALI) has the ST Score of 52.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, financial strength, and stock sentiment but weak in profitability, and Piotroski Score. Performance, growth, and forecast suggest a neutral outlook.

Exelixis Inc (EXEL) stock has the ST Score of 54.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its profitability, and stock sentiment, but its weaknesses are in its financial strength. However, it shows a neutral outlook in value, performance, growth, Piotroski Score, and forecast.

Zymeworks BC Inc (ZYME) currently has the ST Score of 51.0, which signifies a huge upward potential. The Biotech stock's strong points are its financial strength, and stock sentiment, while its weak points are its Piotroski Score. The stock's value, profitability, performance, growth, and forecast indicate a neutral outlook.

Best Regards,
Stocks Telegraph Team

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