US stocks turned positive on Tuesday as chipmakers recovered and investors focused on upcoming corporate earnings. 

As of 11:20 a.m. ET, the Dow Jones Industrial Average rose 1.23%, the S&P 500 gained 0.62%, and the Nasdaq Composite advanced 0.49%. 

South Korean data center provider Elice plunged 32% in its public debut, renewing concerns about AI investment. General Motors narrowed its profit outlook while announcing a $20 billion share buyback. 

Netflix was set to report earnings Tuesday, followed by Tesla and Meta on Wednesday. Housing starts fell to a four-month low, while Brent crude traded at $109 and WTI near $98 per barrel.

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Top Movers: Under $10 

WISeSat.Space Holdings Corp (SAIQ) is up 56.30% today to trade at the current level of $5.33. This comes after the company announced a new milestone with the successful launch of a next-generation 6U satellite developed by its strategic partner FOSSA Systems aboard SpaceX’s Falcon 9 mission.

SCWorx Corp (WORX) zoomed 43.69% in today’s trade to $3.85 after announcing that it has entered into a new agreement with an independent, community-owned healthcare system serving New Mexico, Arizona, Colorado and Utah.

In current trading, Peraso Inc (PRSO) stock is at $0.51 after announcing a production order worth over $2 million from a leading network equipment manufacturer for fixed wireless access systems using Peraso’s 60 GHz technology.

Myriad Genetics Inc (MYGN) rose 36.46% in the early hours of today's trading to move at $5.74 after announcing the sale of its prenatal health testing business to Labcorp, a move expected to streamline operations and strengthen its financial position.

In the current trading session, Fort Technology Inc (FRTT) jumped 33.40% to $0.72 over a previous close of $0.54 after announcing that its majority-owned subsidiary, Logia USA Inc., signed an exclusive distribution agreement with SVL, a leading commercial HVAC equipment representative based in Roseville, Minnesota.

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Ex-Dividend Stocks

Levi Strauss & Co (LEVI) 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 $0.16 per share. It has fixed October 21 as the record date for the same and will pay the actual dividend on November 04. Last year, the company distributed a total of $0.58 to its shareholders. Based on last year's worth of payments, LEVI has a trailing yield of 2.77% on the current stock price of $20.9.

Another stock that is shelling out dividends tomorrow is Lowe's Cos. Inc (LOW), having a market capitalization of $112.43B. It will pay a dividend of $1.25 per share, the payment date of which is November 04. Currently, the stock is trading at a trailing dividend yield of 2.42%.

Shares of APA Corp (APA) will be the talk of the stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.25 per share, and in the last 12 months, it paid a total of $1.00 per share. Last year's total dividend payments show that APA has a trailing yield of 2.05% on the current share price of $48.77.

ArrowMark Financial Corp (BANX) is also set to go ex-dividend Thursday. The next dividend payment from BANX will amount to $0.1 per share. December 24 has been designated as the record date for this dividend, with the actual payout scheduled for December 31. In the previous year, BANX distributed a total of $1.80 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for BANX stands at 9.09% based on the current stock price of $19.76.

First Busey Corp (BUSE) 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 23. Over the past 12 months, BUSE has paid out a total of $1.03 per share in dividends. Based on the total dividends paid out last year, BUSE boasts an impressive trailing yield of 3.43% on the current share price of $30.05.

Crypto Market Highlights

• FINMA approves Switzerland’s first spot Bitcoin ETF for retail investors.

• Drift hack-linked wallet transfers $61 million in ETH to Tornado Cash.

• tx launches USTX, a dollar-pegged stablecoin for tokenized stock trading.

• Kazakhstan restricts six unlicensed crypto platforms and their app-store access.

• Bitget plans to acquire Thailand’s GMO-Z.com Cryptonomics to expand in Southeast Asia.

Most Shorted Stocks

Fluence Energy Inc (FLNC) was one of the most shorted stocks as of latest short interest figures, with 18.45% 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 3.1. This represents a change of 5945037 shares, which corresponds to a 21.33% increase in short interest. The total value of the shares held short is estimated to be around $207.67 million. The average daily volume stands at 7.46M shares, and the market capitalization of the company is $1.13B.

The Hims & Hers Health with the symbol HIMS currently has a short interest of 26.60%. The short interest has changed by 1,848,993 shares. The days to cover ratio stands at 5.3. The estimated value of the shares held short is approximately $1.63 billion. On an average day, 12.05M shares are traded, with the company's market capitalization totaling $6.94B.

For the stock Build A Bear Workshop Inc (BBW), the current short interest is at 24.44%. This represents a significant short interest change of -5581 shares, corresponding to a short interest percentage decrease of -0.19%. The days needed to cover the short positions amount to 4.6. The approximate worth of the shares held short is $71.6 million.

With the symbol LXEO, the stock currently has a short interest of 23.94%. The short interest change is -1380940 shares, compared with a short interest percentage change of -6.69%. It would take approximately 9.0 days to cover all the short positions. The short value is estimated to be around $8.56 million. The company boasts an average daily volume of 1.29M shares, contributing to a market capitalization of $242.59M.

The stock RCAT has a current short interest of 33.31%. The short interest percentage has experienced a decrease of 3.45%, while there was a change of -1280077 shares in short interest. The ratio indicating the time required to cover short positions is 3.2. The calculated worth of the shorted shares amounts to around $91.23 million. Trading activity averages at 8.25M shares per day, while the company's market capitalization stands at $724.63M.

EV Stocks to Watch

According to our ST Score evaluation, Lithium Argentina AG (LAR) emerges as a high-quality stock in the EV industry, attaining an impressive score of 43. The stock's performance is strong. However, its growth, financial strength, and Piotroski Score are weak. Additionally, it is neutral in terms of profitability, stock sentiment, and forecast.

Our ST Score also classifies Rivian Automotive Inc (RIVN) as a high-quality EV stock today, presenting a Score of 40. The stock has strong fundamentals in terms of financial strength. However, it has weak profitability and growth. The performance, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, Xos Inc (XOS) has the ST Score of 42, which means that the stock carries the potential for higher returns. The stock is strong in Piotroski Score but weak in profitability and growth. Performance, financial strength, stock sentiment, and forecast suggest a neutral outlook.

Blink Charging Co (BLNK) stock has the ST Score of 42, which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its, but its weaknesses are in its profitability, performance, growth, stock sentiment, and forecast. However, it shows a neutral outlook in financial strength and Piotroski Score.

VinFast Auto Ltd (VFS) currently has the ST Score of 46, which signifies a huge upward potential. The EV stock's strong points are its performance, while its weak points are its profitability, growth, financial strength, stock sentiment, and forecast. The stock's Piotroski Score indicates a neutral outlook.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team