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ALGN

Align Technology Inc (NASDAQ:ALGN) stock is rising after Health Canada updated the medical device license for its Invisalign Palatal Expander System. The system, which is 3D printed and based on proprietary technology, now has broader patient applicability in Canada. The product is part of a growing segment in orthodontics and offers solutions for common malocclusions in children. While still awaiting FDA clearance in the U.S., it is expected to be available in other markets by 2024. Align's stock increased by 12.7% to $260.79 following the news.

Portfolio Pulse from Adam Eckert

December 14, 2023 | 3:56 pm

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The article lists 25 key individuals to follow in 2024 for insights into cryptocurrency developments, including policy changes, innovation, and institutional adaptation. Notable figures include Nayib Bukele, Michael Saylor of MicroStrategy, Gary Gensler of the SEC, Brian Armstrong of Coinbase, and Larry Fink of BlackRock. The article highlights their contributions and influence in the crypto space, with a focus on the upcoming Bitcoin Halving and potential spot ETF approval.

Portfolio Pulse from Stjepan Kalinic

December 14, 2023 | 3:56 pm

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The U.S. House of Representatives has passed an $886 billion defense policy bill with a vote of 310 to 118. The bill is now on its way to the White House, awaiting President Biden's signature to become law.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 3:50 pm

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Invitation Homes Inc. (NYSE:INVH), a residential REIT, has shown significant share price appreciation and dividend growth over the past five years. An initial investment of $10,000 in December 2018 would have grown to $17,115.28, with dividends contributing $1,498.59. The company recently increased its quarterly dividend by 7.7% and reported mixed Q3 earnings, with FFO slightly missing estimates but revenue exceeding expectations. Analysts from Oppenheimer and Raymond James have given positive ratings with price targets of $35 and $37, respectively. However, the proposed End Hedge Fund Control of American Homes Act of 2023 could pressure shares of Invitation Homes and similar REITs if it passes, as it aims to restrict and reduce investments in single-family homes by REITs.

Portfolio Pulse from Ethan Roberts

December 14, 2023 | 3:44 pm

RPHM

Reneo Pharmaceuticals Inc (NASDAQ:RPHM) stock plummeted after announcing its STRIDE Phase 2b study of mavodelpar failed to meet primary and secondary efficacy endpoints in treating primary mitochondrial myopathies (PMM). The company plans to cut costs by suspending the STRIDE AHEAD study and other mavodelpar development activities, and reducing its workforce by 70%. Despite the setback, Reneo has over $100 million in cash and investments. RPHM's stock price dropped 87% to $1.01.

Portfolio Pulse from Vandana Singh

December 14, 2023 | 3:35 pm

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Chewy, an online retailer of pet food and products, is one of nine companies to receive an FDA warning letter for selling unapproved and misbranded antimicrobial drugs for animals.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 3:33 pm

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The Dow Jones Industrial Average hit a new historic high, with SPDR Dow Jones Industrial Average ETF Trust (DIA) showing a breakout. The market is going parabolic, which historically is not sustainable, and a pullback is expected. Powell's recent flip on monetary policy has increased the risk of market maker gamma squeeze, potentially driving the market higher. Strong retail sales and jobless claims data contradict Powell's dovish stance, suggesting the Fed may have to reverse course if strong data persists. The European Central Bank left rates unchanged and plans to exit pandemic stimulus. Money flows are positive in Amazon, Nvidia, Alphabet, Tesla, Apple, SPY, and QQQ, but negative in Microsoft and Meta. The Arora Report suggests diversification beyond the 'Magnificent Seven' tech giants and adding small caps to portfolios. Gold, oil, and Bitcoin markets are also discussed, with the momo crowd buying and smart money's actions locked.

Portfolio Pulse from The Arora Report

December 14, 2023 | 3:20 pm

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Citron Research tweeted about Apellis Pharmaceuticals Inc. (APLS), suggesting that the company is expected to raise funds soon. The tweet criticizes the U.S. healthcare system's dysfunction, highlighted by APLS's failure to receive European approval for Syfovre. Citron reaffirms their previous report's stance, which was critical of Syfovre, despite analysts' expectations of a 30-35% revenue contribution from Europe.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 3:19 pm

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Jabil Inc. reported Q1 earnings with revenue of $8.39 billion, surpassing estimates, and an adjusted EPS of $2.60, causing its shares to rise by 5%. Other stocks also saw gains, including Redfin, Sunnova Energy, Wayfair, Sunrun, Moderna, Pacific Biosciences, Alector, Opendoor Technologies, Enphase Energy, Align Technology, Gold Fields, Alcoa, First Solar, Lucid Group, Citizens Financial Group, Rivian Automotive, Pool Corporation, RH, Regions Financial Corporation, and The Carlyle Group. Moderna's stock climbed after announcing positive study data with Merck, while Pacific Biosciences was initiated with an Overweight rating by Stephens & Co. Alector received an upgrade from Stifel, and Align Technology got an updated license from Health Canada. Alcoa was approved for continued mining, and Rivian signed a deal with AT&T.

Portfolio Pulse from Avi Kapoor

December 14, 2023 | 3:15 pm

ALGN

Align Technology's stock is trading higher following Health Canada's issuance of an updated medical device license for its Invisalign Palatal Expander System.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 3:07 pm