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FlexShares Credit-Scored US Corporate Bond Index Fund (NASDAQ:SKOR), Short Interest Report

FlexShares Credit-Scored US Corporate Bond Index Fund

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IndexIQ to Shutter South Korea Small-Cap ETF (SKOR)

B. Riley Securities analyst Yuan Zhi downgrades CryoPort (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYRX#NASDAQ">CYRX</a>) from Buy to Neutral and lowers the price target from $22 to $19.

Downgrades

Price Target

Analyst Ratings

CYRX

B. Riley Securities Downgrades CryoPort to Neutral, Lowers Price Target to $19

Wall Street Beats Co-Founder Herb Greenberg expressed skepticism over Trump Media &amp; Technology Group Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)push for a legislative probe into the short-selling of its shares, terming it a &#8220;diversion tactic.&#8221;
What Happened: Greenberg shared his thoughts on the recent move by Trump Media during Thursday&#8217;s episode of &#8220;Last Call&#8221; by CNBC. 
&#8220;This is more of a diversion tactic,&#8221; he said.
&#8220;It reminds me a lot of the battle between the short-sellers, many years ago, with Overstock.com.&#8221;
Herberg recalled Overstock.com&#8217;s short-selling debacle where CEO Patrick Byrne was constantly battling &#8220;naked shorting&#8221; by investors. In the end, it was revealed that short sellers were the actual victims who ended up &#8220;paying far more than they normally would have&#8221; and also resulted in Byrne stepping down as the CEO.
Trump Media CEO David Nunes has urged lawmakers to investigate eight firms over the short-selling of its shares. Among the accused short sellers is Citadel, whose CEO Ken Griffin is a major Republican donor. 
&#8220;Beware of what you wish for. Because these stocks, especially thinly traded like this, it&#8217;s the elevator up, get rid of the short sellers, no natural buyers. When reality hits it is the elevator shaft down,&#8221; Greenberg warned.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;This is more of a diversion tactic,&quot; says <a href="https://twitter.com/herbgreenberg?ref_src=twsrc%5Etfw">@herbgreenberg</a> on Trump Media pushing lawmakers to probe 8 firms over short-selling of <a href="https://twitter.com/search?q=%24DJT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DJT</a> shares. &quot;It reminds me a lot of the battle between the short-sellers, many years ago, with <a href="https://t.co/1j2a9MSlKz">https://t.co/1j2a9MSlKz</a>.&quot; <a href="https://t.co/OqxK756nSH">pic.twitter.com/OqxK756nSH</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1786184944726769851?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38536953/cannabis-stocks-react-to-dea-rescheduling-canopy-aurora-surge-tilray-wm-tech-hold-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cannabis Stocks React To DEA Rescheduling: Canopy &amp; Aurora Surge, Tilray, WM Tech Hold Steady</a>
Why It Matters: This comes amid a high-profile insider trading trial tied to Trump Media, which kicked off in New York earlier this week. The defendant, Bruce Garelick, is<a href="https://www.benzinga.com/markets/equities/24/05/38552903/high-profile-insider-trading-trial-tied-to-trump-media-technology-group-kicks-off-in-new-york"> charged with unlawful trading</a> in the shares of a shell company before its merger with Trump Media was announced. 
Additionally, <a href="https://www.benzinga.com/markets/equities/24/05/38545262/trumps-media-company-hands-ex-president-36m-djt-shares-worth-1-8b-pushing-his-stake-beyond-5-7b">Trump Media recently awarded</a> former U.S. President Donald Trump 36 million additional shares, pushing his total stake in the company to over $5.7 billion. 
Price Action: On Thursday, DJT shares closed at $48.68, marking a 7.87% increase from the previous close.
Read Next: <a href="https://www.benzinga.com/partner/commodities/24/04/38487807/gold-stocks-outperformed-bullion-during-gold-bull-runs-over-past-20-years-junior-miners-like-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gold Stocks Outperformed Bullion During Gold Bull Runs Over Past 20 Years – Junior Miners Like Austin Gold Offer Leveraged Bet On Gold Price</a>
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Equities

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General

Trump Media's Call For Short-Selling Probe A 'Diversion Tactic,' Says Herb Greenberg: 'Beware Of What You Wish For'

Guidance

TILE

Interface Sees Q2 Net Sales Of $335M-$345M Vs. $330.6M Est.

B. Riley Securities analyst Jeff Van Sinderen downgrades XPEL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPEL#NASDAQ">XPEL</a>) from Buy to Neutral and lowers the price target from $74 to $37.

XPEL

B. Riley Securities Downgrades XPEL to Neutral, Lowers Price Target to $37

Needham analyst Mike Matson reiterates Hologic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) with a Buy and maintains $90 price target.

Reiteration

HOLX

Needham Reiterates Buy on Hologic, Maintains $90 Price Target

Truist Securities analyst Scot Ciccarelli upgrades Ollie's Bargain Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) from Hold to Buy and raises the price target from $80 to $86.

Upgrades

OLLI

Truist Securities Upgrades Ollie's Bargain Outlet to Buy, Raises Price Target to $86

Needham analyst Ryan MacDonald reiterates 2U (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) with a Hold.

TWOU

Needham Reiterates Hold on 2U

Piper Sandler analyst Yasmeen Rahimi initiates coverage on Zura Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZURA#NASDAQ">ZURA</a>) with a Overweight rating and announces Price Target of $26.

Initiation

ZURA

Piper Sandler Initiates Coverage On Zura Bio with Overweight Rating, Announces Price Target of $26

Piper Sandler analyst Thomas Champion downgrades Expedia Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) from Overweight to Neutral and lowers the price target from $175 to $145.

EXPE

Piper Sandler Downgrades Expedia Group to Neutral, Lowers Price Target to $145

Needham analyst Ryan MacDonald reiterates Udemy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UDMY#NASDAQ">UDMY</a>) with a Buy and maintains $15 price target.

UDMY

Needham Reiterates Buy on Udemy, Maintains $15 Price Target

Interface (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) reported quarterly earnings of $0.24 per share which beat the analyst consensus estimate of $0.12 by 100 percent. The company reported quarterly sales of $289.743 million which beat the analyst consensus estimate of $285.018 million by 1.66 percent. This is a 2.05 percent decrease over sales of $295.792 million the same period last year.

Earnings

Earnings Beats

Interface Q1 2024 Adj EPS $0.24 Beats $0.12 Estimate, Sales $289.743M Beat $285.018M Estimate

Mizuho analyst Anthony Crowdell upgrades Avista (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVA#NYSE">AVA</a>) from Underperform to Neutral and raises the price target from $32 to $36.

Mizuho Upgrades Avista to Neutral, Raises Price Target to $36

Four Chinese artificial intelligence (AI) start-ups have achieved &#8216;unicorn&#8217; status, with valuations exceeding $1 billion. The companies, namely Zhipu AI, Moonshot AI, MiniMax, and 01.ai, are now set to compete with U.S. giants like Microsoft-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI and Amazon-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Anthropic.
What Happened: These four AI start-ups have seen their valuations surge in the past three months, the Financial Times<a href="https://www.ft.com/content/4e6676c8-eaf9-4d4a-a3dc-71a09b220bf8"> reported</a> on Friday. They have received significant backing from mostly domestic investors and are aggressively recruiting top-tier talent to develop popular AI products.
Zhipu AI, a start-up born out of Beijing&#8217;s Tsinghua University, has become China&#8217;s largest AI start-up in terms of employee count. The company, which now boasts a valuation of $2.5 billion, has received support from major firms like Alibaba Cloud, Tencent, and Xiaomi.
Moonshot AI, founded by a former student of a Zhipu founder, was valued at $2.5 billion in a $1 billion investment round announced in February. Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Meituan, and Monolith Management are among Moonshot&#8217;s backers.
See Also: <a href="https://www.benzinga.com/news/24/04/38480373/musk-vs-moskovitz-rages-on-as-tesla-ceo-trolls-facebook-co-founders-company-why-would-anyone-pay-mon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder&#8217;s Company: &#8216;Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?&#8217;</a>
01.ai, established by AI pioneer Kai-Fu Lee, has rolled out a series of open-source models tailored for the Chinese market. The company has also launched a productivity chatbot named &#8220;Wanzhi.&#8221;
Minimax, founded by Yan Junjie, is currently valued at $2.5 billion and develops AI avatar chatbots. It has received backing from Alibaba, Tencent, and Future Capital among others.
However, the investor pool for these start-ups is smaller than before, with global tech funds not playing as significant a role as they did with earlier AI surveillance start-ups.
Why It Matters: <a href="https://www.benzinga.com/government/24/04/38140039/us-embargo-on-nvidia-stings-hard-chinas-ai-development-lags-peers-alibabas-joe-tsai-reveals">Alibaba</a> has also announced significant price reductions for its cloud services, extending aggressive discounts from China to international markets.
Despite U.S. restrictions on advanced chip exports, Chinese AI start-ups have secured both the necessary engineering talent and sufficient computing resources to train existing models. In response to these restrictions, the Chinese government has offered &#8220;computing vouchers&#8221; to these companies. <a href="https://www.benzinga.com/news/24/03/37450125/no-chips-no-problem-china-is-dropping-cash-vouchers-worth-280k-to-ramp-up-its-ai-dreams">At least 17 city governments</a>, including Shanghai, have promised to provide these vouchers to help these companies deal with the rising costs of data centers.
Moreover, the U.S. and China have agreed to hold their first high-level talks on AI, where they will discuss potential risks and safety concerns associated with AI. <a href="https://www.benzinga.com/news/24/04/38474838/us-china-set-to-hold-first-high-level-talks-on-ai-says-blinken">U.S. Secretary of State Antony Blinken confirmed</a> this during a press conference in Beijing.
This development is noteworthy, especially considering <a href="https://www.benzinga.com/markets/equities/24/04/38120531/this-fund-enabling-investment-in-private-tech-firms-like-spacex-and-openai-skyrockets-over-500-i">the Destiny Tech100 DXYZ fund </a>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>), which focuses on investing in private high-growth tech companies, fallen by 51.15% in the past one month, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38545003/elon-musk-reacts-as-mit-engineer-says-were-at-fraction-of-1-in-ai-investment-imagine-whats-about-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As MIT Engineer Says We&#8217;re At &#8216;Fraction Of 1% In AI Investment. Imagine What&#8217;s About To Come In Next Decade:&#8217; &#8216;Exciting, But Also Worrying&#8217;</a>
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Tech

AMZN

BABA

DXYZ

MSFT

Sam Altman's OpenAI And Amazon-Backed Anthropic Face Serious Competition From These Chinese Startups Backed By Alibaba, Xiaomi And More

BMO Capital analyst Thanos Moschopoulos downgrades Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) from Outperform to Market Perform and lowers the price target from $50 to $38.

OTEX

BMO Capital Downgrades Open Text to Market Perform, Lowers Price Target to $38

Baird analyst Rob Oliver downgrades Sprout Social (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPT#NASDAQ">SPT</a>) from Outperform to Neutral and lowers the price target from $72 to $45.

Baird Downgrades Sprout Social to Neutral, Lowers Price Target to $45

Updated 2024 Outlook &nbsp; &nbsp; Current(2) &nbsp;Previous Segment Sales &nbsp;Body Exteriors &amp; Structures &nbsp; Power &amp; Vision &nbsp; &nbsp; &nbsp; &nbsp; Seating Systems &nbsp; Complete Vehicles &nbsp; &nbsp; $17.3 - $17.9 billion $15.4 - $15.8 billion $5.4 - $5.7 billion $5.0 - $5.3 billion &nbsp; $17.4 - $18.0 billion $15.8 - $16.2 billion $5.5 - $5.8 billion $5.6 - $5.9 billion Total Sales &nbsp; $42.6 - $44.2 billion &nbsp;$43.8 - $45.4 billion &nbsp; &nbsp; &nbsp; Adjusted EBIT Margin(3) &nbsp; 5.4% - 6.0% &nbsp;5.4% - 6.0% &nbsp; &nbsp; &nbsp; Equity Income (included in EBIT) &nbsp; $120 - $150 million &nbsp;$120 - $150 million &nbsp; &nbsp; &nbsp; Interest Expense, net &nbsp; Approximately $230 million &nbsp;Approximately $230 million &nbsp; &nbsp; &nbsp; Income Tax Rate(4) &nbsp; Approximately 22% &nbsp;Approximately 21% &nbsp; &nbsp; &nbsp; Adjusted Net Income attributable to Magna(5) &nbsp; $1.5 - $1.7 billion &nbsp;$1.6 - $1.8 billion &nbsp; &nbsp; &nbsp; Capital Spending &nbsp; $2.4 - $2.5 billion &nbsp;Approximately $2.5 billion &nbsp; &nbsp; &nbsp;&nbsp;

Magna International 2024 Outlook Updated: Expects Sales Of $42.6B-$44.2B (Prior $43.8B-$45.4B) Vs $44.443B Est, Sees Adj. Net Income Of $1.5B - $1.7B (Prior $1.6B-$1.8B)

Russian military personnel have reportedly entered an airbase in Niger, which also houses U.S. troops. This move comes after the junta in Niger ordered the expulsion of U.S. forces.
What Happened: A senior U.S. defense official revealed to Reuters that Russian military personnel have entered Airbase 101 in Niger, where U.S. troops are stationed. 
&#8220;(The situation) is not great but in the short-term manageable,&#8221; the official said.
This comes after the junta in Niger ordered the expulsion of U.S. forces, which had been a crucial partner for the U.S. in its fight against insurgents until a coup last year.
The official, speaking on the condition of anonymity, stated that the Russian forces are not interacting with the U.S. troops but are using a separate hangar at the airbase. This development raises concerns about the future of U.S. installations in the country following the withdrawal.
See Also: <a href="https://www.benzinga.com/news/24/04/38518177/29-year-old-tesla-worker-who-got-fired-says-he-slept-in-parking-lot-showered-at-factory-and-ate-micr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">29-Year-Old Tesla Worker Who Got Fired Says He Slept In Parking Lot, Showered At Factory And Ate Microwaved Dinner: &#8216;Sacrificed A Lot For The Company&#8217;</a>
U.S. Defense Secretary Lloyd Austin downplayed any risk to American troops. &#8220;The Russians are in a separate compound and don&#8217;t have access to U.S. forces or access to our equipment,&#8221; he said.
Why It Matters: The entry of Russian troops into the airbase in Niger comes at a time of heightened tension between the U.S. and Russia, particularly over the conflict in Ukraine. The U.S. has <a href="https://www.benzinga.com/24/05/38575211/us-slams-russia-for-alleged-chemical-weapons-use-in-ukraine-imposes-new-sanctions">recently accused Russia of using chemical weapons in Ukraine</a>, leading to additional sanctions on Russian entities.
Meanwhile, China&#8217;s major banks have <a href="https://www.benzinga.com/markets/asia/24/04/38481364/chinas-big-banks-halt-russia-transactions-over-us-sanctions-forcing-firms-to-resort-to-underground-c">halted transactions related to Russia</a> due to concerns over U.S. sanctions, forcing Chinese companies to resort to alternative channels for payments. This has further strained the global geopolitical landscape.
As the U.S. continues to support Ukraine, the Kremlin has warned of a potential &#8220;<a href="https://www.benzinga.com/24/04/38349780/russia-foresees-humiliating-fiasco-for-us-in-ukraine-support-kremlin-drops-vietnam-and-afghanistan-r">humiliating fiasco</a>,&#8221; drawing parallels with Vietnam and Afghanistan. The entry of Russian troops into Niger adds another layer of complexity to the ongoing geopolitical tensions.
Read Next: <a href="https://www.benzinga.com/news/24/05/38545003/elon-musk-reacts-as-mit-engineer-says-were-at-fraction-of-1-in-ai-investment-imagine-whats-about-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As MIT Engineer Says We&#8217;re At &#8216;Fraction Of 1% In AI Investment. Imagine What&#8217;s About To Come In Next Decade:&#8217; &#8216;Exciting, But Also Worrying&#8217;</a>
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Politics

Global

Russian Troops Enter US Military Base In Niger Amid Rising Tensions

Piper Sandler analyst Clarke Jeffries downgrades Sprout Social (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPT#NASDAQ">SPT</a>) from Overweight to Neutral and lowers the price target from $66 to $40.