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DAL

FLXS

WIT

Wipro Limited (NYSE:WIT) shares surged over 16% after reporting Q3 results, guidance, and an interim dividend. Other stocks showed significant movement in Friday's mid-day session, with various gainers such as Charge Enterprises, Inc. (NASDAQ:CRGE) and losers like Genius Group Limited (NYSE:GNS). Notable movements included Flexsteel Industries, Inc. (NASDAQ:FLXS) rising after strong Q2 preliminary results and Delta Air Lines, Inc. (NYSE:DAL) falling post Q4 financial results and 2024 guidance.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 6:28 pm

AUVI

FLXS

GNS

INPX

JPM

MNTS

VCIG

The Dow Jones index fell over 200 points, while JPMorgan Chase & Co (NYSE:JPM) reported better-than-expected fourth-quarter earnings with a net revenue of $39.943 billion and EPS of $3.97, surpassing consensus estimates. Energy shares rose by 1%, but consumer discretionary shares dropped by 0.8%. Applied UV, Inc. (NASDAQ:AUVI), Flexsteel Industries, Inc. (NASDAQ:FLXS), and Inpixon (NASDAQ:INPX) saw their shares rise after positive announcements. Conversely, Genius Group Limited (NYSE:GNS), VCI Global Limited (NASDAQ:VCIG), and Momentus Inc. (NASDAQ:MNTS) experienced significant share price drops due to public offering pricing and concerns about ongoing viability.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 5:48 pm

VNDA

Vanda Pharmaceuticals has expressed concern over the FDA's recent guidance on communication about unapproved uses of approved drugs. The guidance could lead to criminal misbranding liability for drugmakers sharing new clinical trial results unless they meet the FDA's vague standards. Vanda views this as a threat to free speech and due process, and an overreach without clear congressional direction, potentially impacting medical practice and public health.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 5:28 pm

INTC

NVDA

QCOM

U.S. chipmakers Nvidia (NVDA), Intel (INTC), and Micron Technology (MU) have been summoned to testify before Congress by the House of Representatives' China committee, causing their stock prices to fall. The committee is intensifying its examination of companies with substantial ties to China. This scrutiny follows the CEOs' lobbying against stricter semiconductor-related export controls. Nvidia dominates China's AI chip market, while Micron has reduced its revenue from China from 50% to 16%. The U.S. Commerce Department has tightened AI chip export restrictions to China, affecting Nvidia. The House committee's actions are part of broader efforts to scrutinize U.S. companies with operations in China and may signal a push towards decoupling tech supply chains.

Portfolio Pulse from Anusuya Lahiri

January 12, 2024 | 5:24 pm

FAA Administrator Whitaker has announced a comprehensive audit of Boeing's production processes due to ongoing production issues. The audit aims to identify potential breakdowns and address the persistent problems that Boeing has been facing.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 4:42 pm

AAPL

MASI

The U.S. Appeals Court has upheld earlier patent findings in favor of Masimo in its dispute with Apple, which is also contending with a separate potential ban on its Apple Watch. The court found Apple's remaining arguments unpersuasive.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 4:33 pm

ALK

DAL

LUV

SKYW

UAL

Over 1,600 flights were canceled in the U.S. due to a severe winter storm causing power outages and disruptions. Delta Air Lines, Southwest Airlines, SkyWest, and United have all experienced significant cancellations and delays. United is also dealing with regulatory issues regarding the Boeing 737 MAX 9 jets after an incident with an Alaska Air Group flight. Shares of Delta Air Lines dropped 8.2% amid these disruptions.

Portfolio Pulse from Shivani Kumaresan

January 12, 2024 | 3:45 pm

REGN

VTRS

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) won a lawsuit against Viatris Inc (NASDAQ:VTRS) over its Eylea patent, which, along with strong Dupixent sales and potential in the COPD market, has led BMO Capital Markets analyst Brian Abrahams to upgrade REGN from Sector Perform to Outperform with a new price target of $1,076. Abrahams anticipates Dupixent sales to reach $14.0 billion in 2024, surpassing consensus estimates. The recent patent win for Eylea and promising oncology programs like linvo and fianlimab are also positive indicators for REGN's stock. Following the news, REGN shares rose by 1.50% to $929.68.

Portfolio Pulse from Priya Nigam

January 12, 2024 | 3:18 pm

RMD

The FDA has classified ResMed Ltd's (NYSE:RMD) recall of certain CPAP masks with magnets as a Class I recall, the most serious type. The magnets may interfere with certain medical devices, potentially causing serious harm or death. ResMed is updating labels to include more warnings and has recalled over 20 million devices in the U.S. since November 20, 2023. There have been six reported injuries but no deaths. RMD shares dropped 0.47% to $177.06.

Portfolio Pulse from Vandana Singh

January 12, 2024 | 3:07 pm

CMG

Senator John W Hickenlooper sold between $100,001 and $250,000 worth of Chipotle Mexican Grill (NYSE:CMG) stock on January 11, 2024, as reported by a Periodic Transaction Report from the U.S. Senate. Chipotle's shares were trading at $2276.51 with no change at the time of the report. Congressional transactions are not primary indicators for investing decisions but can be considered by investors. The STOCK Act prevents Congress members from using non-public information for personal gain in stock transactions.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 3:05 pm