Stocks to Watch Friday October 11,2024

International Business Machines (IBM) has experienced significant gains, rising 3% over four days, 4.6% in five days, and 13.5% over a month. Its relative strength index hit 82 on Thursday, suggesting it may be overbought. IBM also reached a new high.

Cisco shares are up 1.5% over four days and 10% for the month, approaching a 52-week high.

Intel saw a 2.8% increase over four days, 4.3% in five days, and a 22% rise over a month, though it remains 55% below its December 2023 high.

Humana dropped 4% after hours following disappointing Medicare Advantage and Part D star ratings. The stock traded above $500 a year ago, closing Thursday at $251.44.

Friday also brings earnings reports from major banks, including JPMorgan Chase, up 2.4% in three months; Wells Fargo, up 7% in a month; and Bank of New York Mellon, which rose 22% over three months and reached a new high Thursday.

Tesla is set to provide updates on its Robotaxi plan on Thursday evening, with CNBC's Phil LeBeau covering the event. Investors are anticipating the market's reaction on Friday. Tesla's stock is down 4.5% over the past four days, trading 12% below its July peak. Year-to-date, the shares have dipped nearly 4%.

The latest data on the most shorted stocks on the NYSE and Nasdaq has been released, with biotech and retail stocks prominently featured. Cassava Sciences ranks fourth, down 8% in four days but up over 122% in three months, though still 41% below its August high. Among retail stocks, Kohl's is down 4.2% over four days and 36.5% from its April peak. Guess also faces declines, with shares down 4% in four days and 43% off from its April high.