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JOE

Trader Joe, a decentralized exchange on the Avalanche blockchain, reached its second-highest fee capture of $1.23 million and revenue of $145,000 on Dec. 11. The surge in performance coincided with a 7% increase in AVAX price and a 30% rise in JOE token value over the past week. This growth reflects Trader Joe's expanding influence in the DeFi sector and the platform's popularity within the Avalanche ecosystem.

Portfolio Pulse from Murtuza Merchant

December 12, 2023 | 5:26 pm

PERI

Perion Network Ltd (NASDAQ:PERI) has completed the acquisition of Hivestack Inc for $100 million in cash and up to $25 million in performance-based payments. Hivestack is a leader in programmatic digital out-of-home (DOOH) advertising technology. The acquisition enables Perion Network to tap into the DOOH market, which is known for delivering real-time, immersive ads in public spaces. Perion Network's financials are strong, with $523.6 million in cash as of September 30 and a 17% year-on-year revenue growth in Q3 FY23, beating consensus estimates. PERI stock has risen by approximately 9% year-to-date and was up 2.31% to $27.94 in the last check on Tuesday.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 5:20 pm

JNJ

Johnson & Johnson announced significant clinical improvement in transplant-eligible newly diagnosed multiple myeloma (NDMM) patients using DARZALEX FASPRO-based therapy. The Phase 3 PERSEUS study showed a 58% reduction in disease progression or death risk compared to standard care. The study, presented at ASH 2023 and published in The New England Journal of Medicine, demonstrated higher complete response rates and minimal residual disease negativity with DARZALEX FASPRO. The safety profile was consistent with known profiles for daratumumab and VRd. Overall survival data are not yet mature but are trending favorably.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:12 pm

DIS

DKNG

Tommy DeVito, an undrafted rookie quarterback for the New York Giants, has gained popularity after stepping in due to injuries to starting QB Daniel Jones and backup Tyrod Taylor. DeVito's performance helped the Giants upset the Green Bay Packers, improving their record to 5-8. Despite living with his parents and earning a modest salary compared to Jones, DeVito's success on the field and relatable lifestyle have endeared him to fans. The Giants' playoff chances remain slim, with current odds at +50,000 to win the Super Bowl and DeVito at +25,000 for Offensive Rookie of the Year.

Portfolio Pulse from Chris Katje

December 12, 2023 | 5:10 pm

CROX

BofA Securities analyst Christopher Nardone initiated coverage of Crocs, Inc. (NASDAQ:CROX) with a Buy rating and a $128 price target. Crocs has seen a 25% annual sales growth since 2019, popular among Gen Z, and is expected to maintain strong momentum. Growth drivers include new products, collaborations, gains in the sandals segment, a solid kid's business, and expansion in Asia-Pacific. The company is also addressing strategic issues from the HD brand post-acquisition in February 2022.

Portfolio Pulse from Priya Nigam

December 12, 2023 | 5:10 pm

PTPI

Petros Pharmaceuticals' stock is trading higher following the completion of a Human Factors Study for a technology component designed to improve patient access to its erectile dysfunction drug, STENDRA.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:09 pm

SNDX

Syndax Pharmaceuticals (NASDAQ:SNDX) presented positive data from the AUGMENT-101 trial of revumenib for relapsed/refractory KMT2Ar acute leukemia at the ASH Meeting. The trial met its primary endpoint, showing a 63% overall response rate and a median overall survival of 8.0 months. The treatment was well tolerated with low discontinuation rates. Syndax plans to submit a New Drug Application for revumenib to the FDA by year-end.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:04 pm

MOVE

Movano Health (NASDAQ:MOVE) has announced a blood pressure partnership forum following positive results from its blood pressure clinical trial. The company will demonstrate its System on a Chip (SoC) technology at the 2024 CES Show and the JP Morgan Healthcare Conference. The SoC technology, which has been in development for five years, can monitor multiple chronic conditions and has achieved an FDA-recognized accuracy standard for cuffless blood pressure devices. Movano Health is also exploring AI-based calibration to improve device performance. The company's Evie Ring already offers a suite of health monitoring features, and the addition of blood pressure monitoring is expected to enhance its capabilities.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:01 pm

AZN

ICVX

Icosavax, Inc. (ICVX) shares surged following the announcement of its acquisition by AstraZeneca. Additionally, Icosavax released positive interim Phase 2 clinical trial results for IVX-A12, targeting RSV and hMPV in older adults.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 4:44 pm

BA

Boeing Co (NYSE:BA) stock is trading higher after the announcement that Avolon intends to purchase 40 more 737-8 planes, increasing its portfolio to over 110 jets. This repeat order reflects confidence in the 737-8 model. Additionally, Boeing's November deliveries were the highest since June, with 56 airplanes delivered, nearing annual targets. William Blair analyst Louie DiPalma initiated coverage on Boeing with an Outperform rating.

Portfolio Pulse from Adam Eckert

December 12, 2023 | 4:28 pm