U.S. stocks slipped Thursday as surging Treasury yields pressured markets, despite a blockbuster earnings report from Micron Technology. 

As of 11:30 a.m. ET, the S&P 500 was down 0.25%, while the Nasdaq Composite fell 0.25% and the Dow Jones Industrial Average dropped 248 points, or 0.56%. 

The 10-year Treasury yield climbed to 5.342%, its highest level since April 3, 2002, while the 30-year yield reached 5.663%, also near 24-year highs. 

Meanwhile, WTI crude rose 1.3% to above $91 a barrel. Technology stocks remained relatively resilient, while most other sectors traded lower or flat.

Top Movers: Under $10 

Nexalin Technology Inc (NXL) is up 77.33% today to trade at the current level of $7.59. This comes after the company signed a definitive exclusive distribution and local manufacturing agreement for Brazil and South America, marking a major step in its transition toward commercial revenue generation.

Veea Inc (VEEA) zoomed 42.63% in today’s trade to $3.1 after announcing a TROLLEE agreement for phased deployment of VeeaONE to 1,000 unattended stores.

In current trading, Airship AI Holdings Inc (AISP) stock is at $2.43 following news that it has been awarded $29.0 million in firm-fixed-price contracts from an agency within the Department of Homeland Security.

DataMEDS AI Inc (MEDS) rose 23.34% in the early hours of today's trading to move to $3.91. The company provided a revenue update on Corexa Pharmacy, a division of its wholly owned subsidiary Corexa Health.

In the current trading session, E-Home Household Service Holdings Ltd (EJH) jumped 19.72% to $1.7 over a previous close of $1.42 after announcing that it has launched a project to develop an AI service robot specifically designed for the household services industry.

Ex-Dividend Stocks

Alico Inc (ALCO) 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 $0.05 per share. It has set October 02 as the record date for the same and will pay the actual dividend on October 16. Last year, the company distributed a total of $0.20 to its shareholders. Based on last year's worth of payments, ALCO has a trailing yield of 0.52% on the current stock price of $38.58.

Another stock that is shelling out dividends tomorrow is ATN International Inc (ATNI), having a market capitalization of $417.38M. It will pay a dividend of $0.29 per share, the payment date of which is October 09. Currently, the stock is trading at a trailing dividend yield of 4.11%.

Shares of Cisco Systems Inc (CSCO) 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 $0.42 per share, and in the last 12 months, it paid a total of $1.66 per share. Last year's total dividend payments show that CSCO has a trailing yield of 1.54% on the current share price of $108.02.

Horizon Bancorp Inc (IN) (HBNC) is also set to go ex-dividend tomorrow. The next dividend payment from HBNC will amount to $0.16 per share. October 02 has been designated as the record date for this dividend, with the actual payout scheduled for October 16. In the previous year, HBNC distributed a total of $0.64 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for HBNC stands at 3.40% based on the current stock price of $18.83.

Royal Gold Inc (RGLD) will be paying out a dividend of $0.47 per share to shareholders holding their shares as of the close of the business hours on the record date of October 02. Over the past 12 months, RGLD has paid out a total of $1.87 per share in dividends. Based on the total dividends paid out last year, RGLD boasts an impressive trailing yield of 0.80% on the current share price of $234.5.

Crypto Market Highlights

• European regulators are reportedly scrutinizing Binance’s use of a legal exemption that allows it to serve EU customers without authorization under the bloc’s crypto rules.

• MetaMask is responding to a security incident affecting part of its infrastructure and is exiting affected staking validators as a precaution.

• Base has activated its Cobalt upgrade, introducing conditional transactions and new issuer controls for tokenized assets as the Ethereum Layer-2 network expands its focus on onchain finance.

• Bloomberg has launched a stablecoin dashboard on its Terminal, providing financial professionals with onchain data covering stablecoin supply, issuance, and transaction activity.

• Bitget’s CEO reported a gradual return to normal operations following a security breach that resulted in the loss of $388 million in user funds.

Most Shorted Stocks

Wolfspeed Inc (WOLF) was one of the most shorted stocks as of latest short interest figures, with 49.62% 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 10.3. This represents a change of 1460917 shares, which corresponds to a 5.93% increase in short interest. The total value of the shares held short is estimated to be around $745.45 million. The average daily volume stands at 3.58M shares, and the market capitalization of the company is $1.51B.

The Ondas Inc with the symbol ONDS currently has a short interest of 42.19%. The short interest has changed by 10531952 shares. The days to cover ratio stands at 3.9. The estimated value of the shares held short is approximately $1.76 billion. On an average day, 81.48M shares are traded, with the company's market capitalization totaling $4.32B.

For the stock SoundHound AI Inc (SOUN), the current short interest is at 40.78%. This represents a significant short interest change of 8219409 shares, corresponding to a short interest percentage increase of 5.24%. The days needed to cover the short positions amount to 7.0. The approximate worth of the shares held short is $1.0 billion.

With the symbol SERV, the stock currently has a short interest of 38.95%. The short interest change is 1429275 shares, compared with a short interest percentage change of 4.66%. It would take approximately 11.5 days to cover all the short positions. The shares short value is estimated to be around $790.77 million. The company boasts an average daily volume of 3.69M shares, contributing to a market capitalization of $415.30M.

The stock CAPR has a current short interest of 37.28%. The short interest percentage has experienced a decrease of -11.28% while there was a change of -2502627 shares in short interest. The ratio indicating the time required to cover short positions is 5.9. The calculated worth of the shorted shares amounts to around $300.62 million. Trading activity averages at 6.79M shares per day, while the company's market capitalization stands at $544.77M.

Biotech Stocks to Watch

According to our ST Score evaluation, Fennec Pharmaceuticals Inc (FENC) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 54. The stock's growth, financial strength, stock sentiment, Piotroski Score, and forecast are strong. However, its performance are weak. Additionally, it is neutral in terms of profitability.

Our ST Score also classifies SELLAS Life Sciences Group Inc (SLS) as a high-quality Biotech stock today, presenting a Score of 59. The stock has strong fundamentals in terms of performance, financial strength, stock sentiment, and forecast. However, it has a weak Piotroski Score. The profitability and growth are neutral.

Another stock in the category, Arbutus Biopharma Corp (ABUS) has the ST Score of 54, which means that the stock carries the potential for higher returns. The stock is strong in profitability, financial strength, and Piotroski Score but weak in growth. Performance, stock sentiment, and forecast suggest a neutral outlook.

InflaRx NV (IFRX) stock has the ST Score of 55, which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its profitability and financial strength, but its weaknesses are in its performance, stock sentiment, and forecast. However, it shows a neutral outlook in growth and Piotroski Score.

Veracyte Inc (VCYT) currently has the ST Score of 61, which signifies a huge upward potential. The Biotech stock's strong points are its profitability, growth, financial strength, and Piotroski Score, while its weak points are its performance. The stock's sentiment and forecast indicate a neutral outlook.

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

Best Regards,

Stocks Telegraph Team