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☆ Stocks making the biggest moves midday: CrowdStrike, GameStop, Dollar Tree, Nvidia and more
▼ + stars: | 2024-06-05 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Check out the companies making headlines in midday trading: CrowdStrike — The cybersecurity company popped 9% after posting a strong outlook and a first-quarter results beat. Dollar Tree — Shares of the discount retailer fell more than 4% after second-quarter guidance came in below expectations. Dollar Tree said it expected between $1 and $1.10 in adjusted earnings per share, while analysts surveyed by FactSet had penciled in $1.19 per share. Verint reported adjusted earnings of 59 cents per share on revenue of $221.3 million in the first quarter. Analysts surveyed by LSEG had anticipated just 54 cents in earnings per share and $214.5 million in revenue.

Persons: CrowdStrike, LSEG, FactSet, Kerrisdale, Brown, Forman, Verint, Tommy Hilfiger, PVH, Fadi Chamoun, Goldman Sachs, Goldman, KeyBanc, Lisa Kailai Han, Pia Singh, Yun Li, Sean Conlon, Jesse Pound, Samantha Subin Organizations: Hewlett Packard Enterprise, GameStop, AMC, Kerrisdale, FactSet, SAP, Archer Aviation, Federal Aviation Administration, Systems, Materials, KLA, Barclays, Taiwan Semiconductor Manufacturing, Authentic Brands, Old Dominion, BMO Capital Markets, Nvidia, America's, Jazz Pharmaceuticals Locations: China

☆ Kerrisdale Capital goes short on Joby Aviation over earnings concerns
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

Oct 10 (Reuters) - Kerrisdale Capital said on Tuesday it had taken a short position on Joby Aviation (JOBY.N) over profitability concerns, sending the electric aircraft maker's shares down nearly 5%. California-based Joby said Kerrisdale has a "vested interest" in lowering its share price. Joby plans to operate like a rideshare app, unlike other electric vertical takeoff and landing (eVTOL) peers that intend to sell their aircraft to customers including airlines and logistics firms. Kerrisdale warned of higher operating costs as the company's electric aircraft are likely to offer lower range and power than traditional helicopters. The U.S. aviation regulator in June gave Joby, which is backed by investors such as Delta Air Lines (DAL.N), Toyota Motor (7203.T) and Intel Corp (INTC.O), the nod to flight-test its electric air taxi.

Persons: Joby, Kerrisdale, Nathan Gomes, Anil D'Silva Organizations: Kerrisdale, Joby Aviation, Delta Air Lines, Toyota, Intel Corp, Thomson Locations: California, U.S, Bengaluru

In their joint venture agreement, Baker Hughes says it uses C3.ai's solutions and also sells the product to companies in the oil and gas industry. CNBC's "Last Call" aired a report Thursday night on the investor lawsuit against C3.ai and the company's relationship with Baker Hughes. The lawsuit says the publicity about the massive Baker Hughes sales force "artificially inflated C3's stock" when the company first went public. Richard Drew | APIn an April 2023 filing, Baker Hughes announced it divested 1.7 million C3.ai shares, bringing its ownership to 6.9 million shares. Kerrisdale pointed to C3.ai's "highly conspicuous growth" in unbilled receivables, largely from Baker Hughes, and wrote that "accounting red flags abound with the Baker Hughes relationship."

Persons: Tom Siebel, Siebel, Thomas M, Chris J, Ratcliffe, it's, Baker Hughes, Logan Roy, Larry Ellison, Yasmin Khorram, Dan Brennan, We've, Brennan, he's, CNBC's, Reed Kathrein, Theranos, —, Kathrein, Richard Drew, they'd, unbilled, receivables, Siebel's, Ken Goldman, Goldman, Gil Luria, Davidson, Luria, Nick Wells, Scott Zamost, Sam Woodward, Tom Siebel's Organizations: Siebel Systems, Oracle, Bloomberg Tech Summit, Bloomberg, Getty, CNBC, Forbes, Siebel, C3, U.S . Department of Defense, Shell, Northern District of, SEC, Twitter, " Traders, New York Stock Exchange, AP, Point Capital Management, Spotify, C3 Energy, Revenue, Wall Locations: London, Redwood City , CA, Redwood City , California, Northern District, Northern District of California, unbilled receivables, Point

NEW YORK, May 4 (Reuters) - The practice of short selling is coming under increased scrutiny as shares of regional banks remain under pressure, with some calls for more regulatory oversight of the practice. Short sellers, who borrow shares they expect to fall and hope to repay the loan for less later to pocket the difference, have profited from the banking crisis. During the financial crisis, short selling was temporarily banned in the U.S., although a New York Federal Reserve review later showed the curb did not achieve the intended effect. The SEC declined to comment on Thursday when asked if it should impose a short selling ban. While some market participants criticized the practice, others, like non-profit group Better Markets, said short sellers warned markets about the challenges regional banks were facing.

Electric-vehicle stocks Fisker , Workhorse and Blink Charging have struggled mightily in 2023. Short interest on Fisker increased by 12% to 68 million shares from March 31 to April 14, FactSet data shows. Charging station builder Blink Charging's short interest rose to 27% of its float, or 13.5 million shares. Those increases in short interest come as all three names have taken a beating this year. Artificial intelligence company C3.ai also saw an 11% spike in short interest, with 31 million of its shares sold short.

☆ Stocks making the biggest moves midday: Costco, Bed Bath & Beyond, AMC, FedEx and more
▼ + stars: | 2023-04-06 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Costco — The wholesale retailer's shares dropped 2% after the company announced sales dipped 1.1% year over year in March. Bed Bath & Beyond — The stock tumbled 7% after the retailer proposed a stock split as it attempts to avoid bankruptcy. Analysts covering the stock welcomed the news, with Raymond James upgrading shares to outperform from market perform Thursday morning. Leslie's , Pool — Shares of pool company Leslie's popped 5.4%, while Pool gained 1%, after both names were upgraded by Loop Capital to buy from hold. Craig-Hallum downgraded the stock to hold from buy and Rosenblatt pulled its rating to neutral from buy following the guidance cut.

☆ AI stocks tumble after short-seller attack on C3.ai
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

Shares of C3.ai were down 10% in early trading, while those of Thai security firm Guardforce AI (GFAI.O) fell more than 14%. Data analytics firm BigBear.ai (BBAI.N) lost 7% and conversation intelligence company SoundHound AI (SOUN.O) declined 4%. C3.ai was one of the trending stocks on investor-focused social media platform Stocktwits.com. Kerrisdale had disclosed its short position in C3.ai last month and accused the company of "poor customer traction, failing sales partnerships and financial pressures." "It is not necessarily a systemic risk and should not affect other AI stocks near-term.

☆ C3.ai tumbles 26% after letter from short seller
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

April 4 (Reuters) - C3.ai's (AI.N) stock tumbled 26% on Tuesday in its biggest one-day drop since the artificial intelligence company's 2020 IPO, with investors dumping the shares after short seller Kerrisdale Capital alleged "serious accounting and disclosure issues". C3.ai has "utilized highly aggressive accounting to inflate its income statement metrics in order to meet sell-side analyst estimates for revenue and certain profit metrics, and to conceal significant deterioration in its underlying operations", Kerrisdale said in a letter to Deloitte & Touche LLP, C3.ai's auditor. C3.ai did not immediately respond to a request for comment about the allegations. Reporting by Noel Randewich; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Kerrisdale takes short position in Uranium Energy; shares fall
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

March 23 (Reuters) - Kerrisdale Capital said on Thursday that it had built a short position in Uranium Energy Corp (UEC.A), sending the miner's shares down more than 10%. The short seller said in a report that the company had failed to exploit a spike in uranium prices during the last two bull markets. Uranium Energy did not immediately respond to a request for comment. Kerrisdale said that of the company's stated 140 million pounds of estimated uranium resources in the United States, none can be mined profitably at current prices. "Only about a quarter of the resources will be economically viable even at the much higher uranium prices."

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