CNXC News & Events

Welcome to this week's installment of "The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 0.5%, the Nasdaq Composite was up 0.3%, the Russell 2000 index was up 1.5%, the Russell 2000 Growth ETFwas up 1.7%, and the Russell 2000 Value ETFwas up 1.2% in the five-day trading session range through February 12.SHORT INTEREST GAINERSOrtex-reported short interest on WisdomTreesaw a four-month low of about 17% in the first week of December and remained within a 17%-19% band up until this week before spiking as high as 26% - a record high – with days to cover also rising modestly to 10.3 from 9.6. Similarly, the official exchange-reported data on the stock as of January-end saw shorts as a percentage of free float having already reached its own record high of nearly 23%. The stock is up 5.4% in the five-day period covered, though year-to-date, shares are up an impressive 34% - the highest return in the Asset Manager group - building the case for a correction.Ortex-reported short interest on Surgery Partnershas been on a gradual uptrend since October low around 18%, though this week, bearish positioning increase became much more pronounced. Shorts as a percentage of free float on the name jumped from 27.4% to 32.4% - the highest level since mid-July – as bears noted the strong 18% rebound in the stock from Monday's multi-month lows. For the week, Surgery Partners was up 15%, and year-to-date, the stock is now flat.Ortex-reported short interest in Upstartwas up every session but one from the five- month lows around 24% on February 2, rising to 27.8%. Bears are pressing their bets, with the stock deepening its selloff since reporting a disappointing Q4 earnings report on Tuesday. Shares are now at the lowest level since mid-2024, having fallen 13% in the five-day period covered through Thursday and also down 42% from early-January highs. Notably, Upstart saw some modest strength of about 2% on Friday as the stock received a valuation-driven upgrade from Goldman Sachs and as the Credit Services group re-rated after a brutal February selloff.Ortex-reported short interest on Concentrixis on the rise even as the stock has come under extreme pressure over the course of two consecutive days this week. Shorts as a percentage of free float in Concentrix had been trending higher since late February, though this week, the increased bearish positioning tripped the radar with an increase of over two percentage points, rising from 22.8% to 25.2% - the highest level since late October. For the week, the IT Solutions name was down 19%, and year-to-date, the stock is now down 27%, though this week's all-time lows in share are hardly proving to be a deterrent among the shorts.SHORT INTEREST DECLINERSShares of Under Armourhad been in a rut since late 2024, and 2025 was particularly unkind to the athletic apparel maker as its stock fell about 40%. 2026 has started off strong for the company however, forcing some notable large scale short-covering. This week, shorts as a percentage of free float in Under Armour fell from 32.8% all the way to 26% - the lowest level since mid-November. Days-to-cover on the name also slipped from 5.9 to a three-month low of 4.9. While the stock was already up over 30% heading into earnings last Friday, a much better than expected set of Q3 results along with the management's guidance raise catalyzed the rebound even further. Under Armour was up 12% in the five-day period through Thursday and has now gained over 44% year-to-date.

The major averages closed broadly lower, with JPMorgan bogging down the Dow as investors digested its earnings as well as new data, including the U.S. consumer price index. The release may be seen helping to shape expectations for Federal Reserve policy and the pace of potential rate cuts later this year. The annual inflation rate remained stable at 2.7%, while the core annual rate also remained at 2.6%, the lowest since 2021.Looking to commodities, gold edged lower as the "safe haven" asset retreats from record highs. Oil was surging ahead of this afternoon's API crude numbers release.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:JPMorganreportedand provided its outlook for FY26Deltareportedand revenue and provided guidance for Q1 and FY26L3Harrisannounced the creation of a, adding that it will pursue an IPO of the unit in 2H26Boeingreported 600in FY25Microsoftannounced a 5-point-plan foras Trump lauded the company amid criticism of utility bill increases amid data center builds2. WALL STREET CALLS:Intelto Overweight at KeyBancAMDto Overweight at KeyBancArmto Neutral at BofACharterto Underweight at Wells FargoMGM Resortsto Hold at Truist3. AROUND THE WEB:Venezuela's PDVSA has started to reverse oil production cuts, Reuters reportsBlackRockplans to cut hundreds of jobs as part of a regular round of layoffs to improve efficiency, Reuters reportsApple'sservices business continues to be a major profit engine, delivering record results in 2025 and entering 2026 with a focus on innovation, privacy, and customer experience, The Hollywood Reporter saysGoogleremoved AI Overviews for two liver health queries after experts warned of "alarming" results, but slight tweaks still trigger AI responses, Guardian reportsUBSCEO Sergio Ermotti plans to step down in April 2027, FT says4. MOVERS:Lithium Argentinahigher in New York after Deutsche Bankthe stock to BuyHIVE Digitalincreases after announcing itsArcus Biosciencesgains after Goldman Sachsthe stock to BuyTravere Therapeuticslower after theof the clinical benefit of FILSPARIWealthfrontfalls after5. EARNINGS/GUIDANCEIlluminafor Q4 and FY25Concentrixand provided guidance for Q1 and FY26Sight Sciencesreported, with CEO Paul Badawi commenting, "We are pleased with our progress in the fourth quarter"BNY Mellonwith EPS and revenue beating consensusCardinal Healthfor FY26INDEXES:The Dow fell 398.21, or 0.80%, to 49,191.99, the Nasdaq lost 24.03, or 0.10%, to 23,709.87, and the S&P 500 declined 13.53, or 0.19%, to 6,963.74.

The major averages were mixed near noon following yesterday's gains, with JPMorgan bogging down the Dow as investors digest its earnings as well as new data, including the U.S. consumer price index. The release may be seen helping to shape expectations for Federal Reserve policy and the pace of potential rate cuts later this year. The annual inflation rate remained stable at 2.7%, while the core annual rate also remained at 2.6%, the lowest since 2021.Looking to commodities, gold edged higher as the "safe haven" asset continues to reach for record highs. Oil was surging ahead of this afternoon's API crude numbers release as investors await more information on the situation in Venezuela.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:JPMorganreportedand provided its outlook for FY26Deltareportedand provided guidance for Q1 and FY26L3Harrisannounced the creation of a, adding that it will pursue an IPO of the unit in 2H26Boeingreported 600in FY25Microsoftannounced a 5-point-plan foras Trump lauded the company amid criticism of utility bill increases amid data center builds2. WALL STREET CALLS:Intelto Overweight at KeyBancAMDto Overweight at KeyBancArmto Neutral at BofACharterto Underweight at Wells FargoMGM Resortsto Hold at Truist3. AROUND THE WEB:BlackRockplans to cut hundreds of jobs as part of a regular round of layoffs to improve efficiency, Reuters reportsApple'sservices business continues to be a major profit engine, delivering record results in 2025 and entering 2026 with a focus on innovation, privacy, and customer experience, The Hollywood Reporter saysGoogleremoved AI Overviews for two liver health queries after experts warned of "alarming" results, but slight tweaks still trigger AI responses, Guardian reportsUBSCEO Sergio Ermotti plans to step down in April 2027, FT saysCitiis expected to reduce its headcount by about 1,000 jobs this week as part of CEO Jane Fraser's cost-cutting efforts, Bloomberg says4. MOVERS:Lithium Argentinahigher in New York after Deutsche Bankthe stock to BuyHIVE Digitalincreases after announcing itsArcus Biosciencesgains after Goldman Sachsthe stock to BuyTravere Therapeuticslower after theof the clinical benefit of FILSPARIWealthfrontfalls after5. EARNINGS/GUIDANCEIlluminafor Q4 and FY25Concentrixand provided guidance for Q1 and FY26Sight Sciences, with CEO Paul Badawi commenting, "We are pleased with our progress in the fourth quarter"BNY Mellonwith EPS and revenue beating consensusCardinal Healthfor FY26INDEXES:Near midday, the Dow was down 0.61%, or 304.97, to 49,285.23, the Nasdaq was up 0.17%, or 40.72, to 23,774.63, and the S&P 500 was down 0.07%, or 5.05, to 6,972.22.