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☆ Hedge funds are betting big against these stocks and it's working
▼ + stars: | 2024-03-13 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The latest short interest data reveals several stocks that are down both month to date and since the start of the new year. CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Feb. 29. Here are the names of these heavily shorted stocks: EV-related stocks and auto stocks are an ongoing target of hedge funds — and they're not performing well this year. There is also a significant amount of short interest, roughly 33%, in both Luminar Technologies , which makes technology for self-driving cars, and used car retailer Carvana . Short interest in the stock grew a whopping 44.9% during the latter half of February.

Persons: they're, TD Cowen, Jefferies, —, Nick Wells Organizations: Dow Jones Industrial, CNBC, New York Stock Exchange, Nasdaq Exchange, Lucid, EV, ChargePoint Holdings, Luminar Technologies, Sunnova Energy

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

Even as the market rallies, the latest short interest data reveals several stocks that could see losses. CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Jan. 12. Lucid Group , another EV maker, saw short interest increase to about 29% of its float. Companies that make auto parts, including Luminar Technologies and Atmus Filtration , also saw short interest increase. Short interest increased 3% and 8% for thrift store chain Savers Value Village and department store Kohl's , respectively.

Persons: Fisker, That's, VinFast, Goldman Sachs, Nick Wells Organizations: Nasdaq, CNBC, New York Stock Exchange, Nasdaq Exchange, Lucid Group, Traders, EV, VinFast, Companies, Luminar Technologies, Dyne Therapeutics, Enliven, Allogene Therapeutics

While short bets are mounting in these stocks in recent weeks, some of the upward momentum could be due to a short squeeze playing out. Electric vehicle maker Fisker also saw short interest rise more than 10% to more than 49% of its float. That included artificial intelligence stock C3.ai, with short interest down a little over 3% to about 35% of shares outstanding. Short interest climbed 8% to 32.6 million shares shorted. Short interest increased 6% during the period to more than 27 million shares.

Persons: Fisker, Kohl's, Atmus, —, Fred Imbert Organizations: Nasdaq, CNBC Pro, New York Stock Exchange, Holdings, Luminar Technologies

The logo of Forbes magazine is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin/File Photo Acquire Licensing RightsNov 21 (Reuters) - Forbes' parent company has called off its acquisition by Luminar Technologies (LAZR.O) CEO Austin Russell, as the billionaire could not come up with the financing, an internal Forbes memo seen by Reuters on Tuesday showed. Forbes was valued at $475 million in 2014 when Integrated Whale Media bought a majority stake in the company from the Forbes family and investment group Elevation Partners. Chinese conglomerate HNA Group made an unsuccessful bid to acquire a majority stake in Forbes in 2017, Reuters reported at the time. Forbes, one of the oldest U.S. media outlets, publishes its eponymous flagship magazine, which reaches 5 million readers.

Persons: Sergei Karpukhin, Forbes, Austin Russell, Mike Federle, Dawn Chmielewski, Helen Coster, Akash Sriram, Maju Samuel, Richard Chang Organizations: Forbes, St ., Economic, REUTERS, Luminar Technologies, Reuters, Forbes Media, The, Integrated Whale Media, Partners, HNA Group, Thomson Locations: St, St . Petersburg, Russia, Russell's, U.S, Los Angeles, New York, Bengaluru

☆ Analysts love these EV-related stocks, giving 2 of them more than 100% upside
▼ + stars: | 2023-11-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The Global X Autonomous and Electric Vehicles exchange-traded fund, which includes companies across multiple parts of the EV supply chain, is up around 16% in the year to date. The Global X Autonomous and Electric Vehicles ETF is one of a number of ETFs that offer a way to invest in a basket of stocks across the supply chain. About a third of the 76 holdings are tech and communications stocks, with industrials, materials, auto stocks and others making up the rest. For investors who want to buy EV-related stocks, CNBC Pro screened the Global X Autonomous and Electric Vehicles ETF for stocks with more than 30% upside over the next 12 months. Lithium producers include Livent and Piedmont Lithium — the latter attracted the only 100% buy rating from analysts and a whopping potential upside of 165.1%.

Persons: Geely Organizations: Autonomous and Electric Vehicles, Analysts, Autonomous and Electric Vehicles ETF, CNBC Pro, Global, EV, General Motors, Renault, Luminar Technologies, . Semiconductor, Nvidia, Infineon Locations: U.S, French

☆ These 4 stocks report quarterly results next week. Here's what we hope to see
▼ + stars: | 2023-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho

☆ Lightning Round: Taiwan Semi looks like a buy, the only concern is China
▼ + stars: | 2023-10-12 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Taiwan Semi looks like a buy, the only concern is China'Mad Money' host Jim Cramer weighs in on stocks including: ChargePoint, Phathom Pharmaceuticals, Luminar Technologies, Taiwan Semi, Axon Enterprise, Navitas Semiconductor, Biohaven LTD and RTX.

Persons: Jim Cramer Organizations: Phathom Pharmaceuticals, Luminar Technologies, Navitas Semiconductor, Biohaven Locations: Taiwan, China

☆ Cramer's Lightning Round: Sell Phathom Pharmaceuticals
▼ + stars: | 2023-10-12 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon ChargePoint's year-to-date stock performance. Stock Chart Icon Stock chart icon Phathom Pharmaceuticals' year-to-date stock performance. Stock Chart Icon Stock chart icon Luminar Technologies' year-to-date stock performance. Stock Chart Icon Stock chart icon Taiwan Semiconductor's year-to-date stock performance. Stock Chart Icon Stock chart icon RTX's year-to-date stock performance.

Persons: that's, we're, Navitas, We're Organizations: Phathom Pharmaceuticals, Technologies, Luminar Technologies, Taiwan Semiconductor, Navitas Semiconductor Locations: Taiwan, China

☆ Automakers are finally embracing lidar sensors. A few startups look like market-share winners
▼ + stars: | 2023-08-18 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +6 min

In this article INVZLAZROUSTINVZLAZROUST Follow your favorite stocks CREATE FREE ACCOUNTA Hesai lidar sensor on top of a vehicle in Shenzhen, China, July 10, 2022. Jade Gao | AFP | Getty ImagesFor investors in lidar startups, this has been a long time coming. After years of talk — and a SPAC boom in the sensor sector — automakers have finally started incorporating lidar units into their vehicles. Lidar, short for light detection and ranging, is a sensor technology that uses invisible lasers to create a detailed 3D map of the sensor's surroundings. Playing into investors' intense interest in self-driving technology, many lidar startups went public via mergers with special purpose acquisition companies, or SPACs, over the last few years.

Persons: LAZR, INVZ LAZR, Jade Gao, They're, Luminar, —, Omer Keilaf, Keilaf, Innoviz, Austin Russell, Russell, we'll, Tom Fennimore Organizations: AFP, Getty, BMW, Volkswagen, Refinitiv, Volvo, Polestar, Benz, Luminar Technologies, Bloomberg Locations: Shenzhen, China, Germany, U.S, SPACs, Orlando , Florida

☆ 28-year-old self-made billionaire started his self-driving car company in his parents' garage—now he's worth $1.6 billion
▼ + stars: | 2023-07-24 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

When Austin Russell was a 17-year-old high school student, he founded Luminar Technologies, which makes laser sensors that can help self-driving cars detect nearby objects. Now 28, Russell is the world's youngest self-made billionaire, according to Forbes, as Luminar competes with major companies like Tesla and Alphabet's Waymo. But self-driving cars aren't exactly commonplace on American roads, meaning Russell and Luminar have a lot of work ahead of them, despite their lofty valuations. How it differs from Tesla's approachElon Musk's Tesla also seeks to popularize self-driving cars, and Musk's approach to the technology is entirely different. Lidar could potentially change that, Russell says: Cameras can be helpful "for certain use cases," but lidar is "a huge step forward."

Persons: Austin Russell, Russell, Waymo, —, Luminar, Elon Musk's Tesla, Mario Herger, Herger, Tesla Organizations: Luminar Technologies, CNBC, Forbes, Benz, Volvo, Stanford University, Thiel, Washington Post Locations: Orlando , Florida, U.S

☆ Cramer's Lightning Round: Trip advisor isn't good enough
▼ + stars: | 2023-07-19 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Tripadvisor's year-to-date stock performance. Stock Chart Icon Stock chart icon Shockwave Medical's year-to-date stock performance. Stock Chart Icon Stock chart icon Akoya Biosciences' year-to-date stock performance. Stock Chart Icon Stock chart icon Pfizer's year-to-date stock performance. Stock Chart Icon Stock chart icon Vistra's year-to-date stock perforrmance.

Persons: Brian Chesky, Shockwave, Stellantis, it's, you've, Bourla, he's, George Organizations: Technologies, Luminar Technologies, Biosciences, Akoya Biosciences, Vitesse Energy's, Vitesse Energy, Pfizer

☆ The world's youngest self-made billionaire 'absolutely' recommends dropping out of college to make money instead—here’s why
▼ + stars: | 2023-06-30 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

That's according to Austin Russell, the world's youngest self-made billionaire, who dropped out of Stanford University in 2012 to start his company, Luminar Technologies, after receiving a $100,000 grant from the Peter Thiel Fellowship. CNBC Make It asked Russell, 28, if he'd recommend other student entrepreneurs to drop out. "It's just sort of the traditional approach around what you do and what you're supposed to do." What's more, he says he would have still left Stanford even if he hadn't received funding. "If you're wondering if I would have dropped out [without the grant], yeah.

Persons: Austin Russell, Peter Thiel, Russell, he'd, hadn't Organizations: Stanford University, Luminar Technologies, Peter Thiel Fellowship, CNBC, Stanford

☆ World's youngest self-made billionaire: Success comes from taking these 2 common traits 'to the extreme'
▼ + stars: | 2023-06-23 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

It may be hard to believe that Austin Russell, the world's youngest self-made billionaire, has anything in common with others his age — but he insists that he does. The company, which Russell founded 11 years ago as a teenager, develops hardware and software meant to power self-driving cars. But rather than focusing on technological expertise or business acumen, Russell credits his journey so far to two traits common among younger generations: energy and passion. "People in their 20s have a lot of great energy," Russell tells CNBC Make It. Building such a company takes more than just passion and energy, Russell admits.

Persons: Austin Russell, Russell, Thiel, Gen Xers, they're, Forbes, —, Warren Buffett Organizations: Technologies, Thiel Fellowship, Stanford University, CNBC, Benz, Volvo Locations: Orlando , Florida, Luminar

☆ Cramer's Lightning Round: Icahn is "too dangerous"
▼ + stars: | 2023-06-20 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon Luminar Technologies' year-to-date stock performance. You know, I don't recommend stocks on this show that are losing money, it is too dangerous for me." Stock Chart Icon Stock chart icon Icahn's year-to-date stock performance. Icahn : "Too dangerous, too dangerous for me. Stock Chart Icon Stock chart icon Verizon's year-to-date stock performance.

Persons: I'm Organizations: Technologies, Luminar Technologies, Verizon

☆ Lightning Round: Higher interest rates could be bad news for Affirm
▼ + stars: | 2023-05-04 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Higher interest rates could be bad news for Affirm'Mad Money' host Jim Cramer weighs in on stocks including: ImmunoGen, Affirm, Luminar Technologies, Ermenegildo Zegna, and Avalonbay Communities.

☆ Luminar CFO defends lidar maker's pricing and revenue in the wake of a Goldman downgrade
▼ + stars: | 2023-03-24 | by ( John Rosevear | ) www.cnbc.com time to read: +3 min

A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar's Iris, to showcase the differences in the technologies. Lidar maker Luminar Technologies , stung by a recent Wall Street downgrade, is responding in an unusual way: taking its case directly to the shareholders. "We continue to see Luminar as one of a handful of leaders in the very competitive lidar industry," Delaney wrote. "'Premium pricing' isn't a theoretical concept we are forecasting, but an achievement we have already made in our major customer contracts," Fennimore wrote in the shareholder letter. And the second point Fennimore says Goldman missed: The time frame Delaney chose to compare Luminar's valuation against those of its rivals.

☆ Goldman Sachs says this self-driving car software stock could fall 35%
▼ + stars: | 2023-03-22 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Luminar Technologies shares are too expensive at current valuations and could fall 35%, Goldman Sachs said. Luminar shares outperformed this year as investors moved back into riskier assets. However, the analyst says Luminar shares now have downside after that run-up. Delaney's $5 price target means shares could fall 35% from Tuesday's close. Luminar shares were down more than 8% in Wednesday premarket trading.

☆ Stocks making the biggest moves premarket: GameStop, Luminar Technologies, Virgin Orbit & more
▼ + stars: | 2023-03-22 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

GameStop — The meme stock surged 44% after the company posted a quarterly profit for the first time in two years Tuesday. Luminar Technologies — Shares dropped nearly 9.2% after being downgraded by Goldman Sachs to sell from neutral. Petco Health and Wellness — The stock fell by 7.8% in early morning trading after the company reported fourth-quarter earnings that missed Wall Street's expectations. First Republic — Shares of the regional bank fell by 4.2% in premarket trading after jumping nearly 30% in Tuesday's session. Sales in China fell short of analyst expectations, and the company continued working through its inventories, which weighed on margins.

☆ Stocks making the biggest moves midday: Nvidia, First Republic, Nike, GameStop and more
▼ + stars: | 2023-03-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Wall Street analysts lauded the company's artificial intelligence leadership following its developer conference Tuesday. First Republic Bank — Shares of the regional bank were down nearly 16% on Wednesday. Its results can't be compared with Wall Street estimates because too few analysts cover the company. Petco Health and Wellness — Shares fell 17.5% after the company reported earnings. The Wall Street firm believes the self-driving car software stock is too expensive and could fall 35% from Tuesday's close.

☆ Mercedes-Benz cars to have 'supercomputers', unveils Google partnership
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +3 min

But the car companies also want to keep control over their customer relationships as well as valuable data generated by their cars. Mercedes-Benz is moving from a patchwork approach of integrating software from a range of suppliers to controlling the core of its software. Under the Google partnership, Google Maps will be Mercedes-branded and provide drivers with Google traffic information and automatic rerouting, as well as the ability to watch YouTube on the cars' entertainment system when the car is parked, or in Level 3 autonomous driving mode. Google and Mercedes-Benz also agreed to explore further collaboration with Google Cloud data and artificial intelligence capabilities. Others carmakers like General Motors, Renault (RENA.PA), Nissan (7201.T) and Ford (F.N) have embedded an entire package of Google services into their vehicles, offering features like Google Maps, Google Assistant and other applications.

☆ Luminar, Mercedes-Benz expand deal for self-driving tech
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - Self-driving sensor maker Luminar Technologies Inc (LAZR.O) announced an expanded partnership with Mercedes-Benz Group (MBGn.DE) on Wednesday to enable fully automated driving for its next-generation vehicles. Automakers from Tesla Inc (TSLA.O) to General Motors (GM.N) are focusing on autonomous vehicles, but technological and regulatory hurdles remain. Tech firms such as Alphabet Inc's (GOOGL.O) Waymo and Aptiv-Hyundai Motor joint venture, Motional, are also looking to develop autonomous vehicles for commercial use. Luminar and Mercedes-Benz had announced a partnership in January last year. Palo Alto, California-based Luminar also said it plans to build a factory in Asia to support the multi-billion dollar deal.

☆ Goldman's surging 'Most Short' portfolio reveals what's driving market rally — here's what's in it
▼ + stars: | 2023-01-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Signs have emerged that short covering has been at work during the latest stock market rally, raising questions about the sustainability of the leg up. Meanwhile, Goldman Sachs' so-called "Most Short" basket, consisting of 50 U.S. stocks with the biggest short interest, has gained more than 20% in 2023. "The equity market rally since the lows in October has for the major part been driven by short covering," Barclays strategists said in a note Wednesday. On Monday when the Nasdaq jumped 2%, technology stocks saw the largest one-day notional amount of short covering since June, according to Goldman's prime brokerage data. Goldman said the short covering activity was led by semiconductor stocks, tech hardware and IT services stocks.

☆ Stocks making the biggest moves premarket: Silvergate Capital, Walgreens, Amazon and more
▼ + stars: | 2023-01-05 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

People walk by a Walgreens, owned by the Walgreens Boots Alliance, Inc., in New York City, November 26, 2021. Check out the companies making headlines and moves in premarket trading. Walgreens Boots Alliance — The drugstore stock fell about 2% in premarket even after the company reported fiscal first quarter earnings that beat analyst estimates. Western Digital — Shares jumped more than 5% after Western Digital and Japan's Kioxia Holdings resumed merger talks, according to a Bloomberg News report that cited sources familiar with the matter. American Express — The stock fell 1.48% in the premarket after being downgraded by Stephens on Thursday to underweight from equal weight.

☆ Zenseact becomes fully owned subsidiary of Volvo Cars
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +1 min

Dec 31 (Reuters) - Sweden-based Volvo Car AB said on Saturday it had taken 100% ownership of its autonomous driving (AD) software development subsidiary Zenseact. Volvo Cars acquired 13.5% of shares in Zenseact from ECARX, which made the AD software company a fully owned subsidiary of the Swedish automaker. Zenseact will continue to remain and operate as a standalone company, Volvo Cars said. Despite Volvo Cars taking ECARX's shares in the software company, the ongoing collaboration discussions between Zenseact and ECARX will continue as planned, Volvo Cars said. Zenseact received a strategic investment in 2021 from ECARX where it asked for 15% shareholding in the software company.

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