The Alger ETF Trust Alger Concentrated Equity ETF (ARCA: CNEQ)

Latest news for The Alger ETF Trust Alger Concentrated Equity ETF (ARCA:CNEQ)

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of large-cap companies that the Manager believes demonstrate promising growth potential. For these purposes, large-cap companies are those companies that, at the time of purchase of the securities, have total market capitalization within the range of companies included in the Russell 1000 Growth Index. At December 31, 2023, the companies in this index ranged from $978 million to $2.99 trillion. Equity securities include common or preferred stocks that are listed on U.S. exchanges. The Fund will invest at least 25% of its total assets in companies focused in the following group of related industries: software, technology hardware storage and peripherals, semiconductors and semiconductor equipment, information technology services, electronic equipment instruments and components, communications equipment, broadline retail and interactive media and services, as classified by third party sources. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries.

Microsoft Corp

Nvidia Corp.

Amazon.Com Inc

Apple Inc

Meta Platforms, Inc.

Heico Corp. Class A

Taiwan Semiconductor Manufacturing Co. Ltd. Adr ( Tsm )

Alphabet Holding Company Inc.

Broadcom Inc

Gfl Environmental Inc

Alger Concentrated Equity ETF

The Alger ETF Trust Alger Concentrated Equity ETF

News

EVGN

Evogene Subsidiary Lavie Bio's LAV321 Bio-Fungicide Advances To Pre-Commercial Stage After 70% Efficacy Against Downy Mildew In Grapes

Earnings

Universal Security Q2 EPS $0.25 Up From $(0.08) YoY, Sales $7.2M Up From $3.72M YoY

Mizuho analyst Dan Dolev maintains SoFi Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) with a Outperform and raises the price target from $14 to $16.

Price Target

Analyst Ratings

SOFI

Mizuho Maintains Outperform on SoFi Techs, Raises Price Target to $16

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Cybin (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CYBN#AMEX">CYBN</a>) with a Buy and maintains $190 price target.

Reiteration

CYBN

HC Wainwright & Co. Reiterates Buy on Cybin, Maintains $190 Price Target

Eltek (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELTK#NASDAQ">ELTK</a>) reported quarterly earnings of $0.25 per share which missed the analyst consensus estimate of $0.31 by 19.35 percent. The company reported quarterly sales of $13.520 million which beat the analyst consensus estimate of $12.400 million by 9.03 percent. This is a 13.99 percent increase over sales of $11.861 million the same period last year.

Earnings Beats

Earnings Misses

ELTK

Eltek Q3 2024 GAAP EPS $0.25 Misses $0.31 Estimate, Sales $13.520M Beat $12.400M Estimate

Morgan Stanley analyst Kristine Liwag maintains Moog (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOG#NYSE">MOG</a>) with a Equal-Weight and raises the price target from $192 to $225.

MOG/A

Morgan Stanley Maintains Equal-Weight on Moog, Raises Price Target to $225

Centrus Energy Late Monday Disclosed That Russia Passed A Decree Rescinding Supplier TENEX's General License To Export Low Enriched Uranium To The United States

On Tuesday,&nbsp;Alzamend Neuro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALZN#NASDAQ">ALZN</a>) said it finished analyzing the final full data set from a nonclinical study comparing brain and plasma lithium exposures between AL001 and lithium carbonate in Alzheimer&#8217;s transgenic mice.
The study involved administering AL001 to 5XFAD mice, a recognized model for Alzheimer&#8217;s research, to compare its effects against lithium carbonate, an FDA-approved and marketed API.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40157224/exclusive-alzamend-neuro-to-assess-al001-alzheimers-candidate-against-commonly-marketed-lithium-s" rel="noreferrer noopener">EXCLUSIVE: Alzamend Neuro To Assess AL001 Alzheimer&#8217;s Candidate Against Commonly Marketed Lithium Salt In Phase 2 Head-To-Head Study</a>
Mice received high or low doses scaled to humans of AL001 and lithium carbonate over 14 days to observe pharmacokinetic steady-state drug conditions.
Key Findings:
<ul>
<li>Both treatments did not negatively impact the mice&#8217;s body weight or clinical signs during the treatment period.</li>
<li>AL001 showed lower plasma lithium levels than lithium carbonate, reducing the risk of adverse systemic effects and suggesting an expansion for the safety of lithium&#8217;s therapeutic index.</li>
<li>AL001 showed higher lithium concentrations in brain tissues than lithium carbonate, particularly at lower doses.</li>
<li>The study found that different brain regions absorb and retain lithium differently. This means treatments can potentially be tailored to target specific brain areas.</li>
</ul>
The company says that the results highlight the potential clinical advantages of AL001 for conditions like Alzheimer&#8217;s, bipolar disorder, major depressive disorder, and post-traumatic stress disorder at low doses.
By reducing the systemic burden, AL001 could lessen the risk of side effects such as thyroid and kidney complications often associated with extant lithium therapies, positioning AL001 as a candidate for safer long-term treatment options without the need for routine blood lithium monitoring.
In October,&nbsp;Alzamend Neuro received the final full data set from its multiple ascending dose clinical trial for AL001 for dementia related to Alzheimer&#8217;s. Preliminary results were&nbsp;released <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41353949/exclusive-alzamend-neuro-reveals-full-data-set-from-multiple-ascending-dose-trial-for-lead-candid" rel="noreferrer noopener">in June 2023</a>.
Price Action: ALZN stock is up 6.67% at $1.44 during the premarket session at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/11/42045491/encouraging-early-data-from-next-gen-breyanzi-study-puts-bristol-myers-car-t-therapy-in-the-spotlight-for-autoimmune-diseases" target="_blank" rel="noreferrer noopener">Encouraging Early Data From Next-Gen Study Puts Bristol Myers&#8217; CAR T Therapy In The Spotlight For Autoimmune Diseases</a></li>
</ul>

Biotech

Health Care

Exclusives

Movers

General

ALZN

EXCLUSIVE: Alzamend Neuro Reveals Full Data From Nonclinical Study Of Its Lead Alzheimer's Drug Potential

Starting a small company in an industry dominated by giants for over a century, in an industry full of secrets passed down through generations where no one likes change? That's exactly what the cofounders of HB Antwerp did. When they launched their diamond startup, the old-timers in Antwerp laughed at them. They were called dreamers with a &#8220;harebrained idea.&#8221; But no one&#8217;s laughing now – HB Antwerp is gaining significant traction in the diamond industry, taking on <a href="https://www.benzinga.com/personal-finance/24/09/41033619/61-think-spending-three-months-salary-on-an-engagement-ring-is-unreasonable-not-in-this-economy">De Beers</a>, a company that has been at the top for decades.
Don't Miss:
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<li>This rooftop wind turbine is taking on a market projected to reach over $900 billion by 2032 —<a href="https://www.benzinga.com/money/halcium"> With already over 40,000 users signing up to purchase, here's a chance to be an early investor today!</a></li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target –<a href="https://www.benzinga.com/money/mode-mobile-2"> You can still get 4,000 of its pre-IPO shares for just $1,000</a></li>
</ul>
The <a href="https://www.benzinga.com/money/diamond-standard">diamond industry</a> is a $100 billion global market and Antwerp, Belgium, has long been its beating heart. The world's raw diamonds have traveled through Antwerp's diamond sector for over a century. The area is a maze of narrow streets and low-rise buildings that conceal a high-profile enterprise. Here, diamonds move from rough rocks to dazzling jewelry sold worldwide. But there's been one big player – De Beers, the name most people think of when they think of diamonds. De Beers has shaped how diamonds are mined, traded and marketed for over a century.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Every diamond has a story.<a href="https://twitter.com/HBAntwerp?ref_src=twsrc%5Etfw">@HBAntwerp</a> set out to record those stories, developing a new <a href="https://twitter.com/hashtag/IoT?src=hash&amp;ref_src=twsrc%5Etfw">#IoT</a> device using <a href="https://twitter.com/hashtag/Blockchain?src=hash&amp;ref_src=twsrc%5Etfw">#Blockchain</a> technology and the Microsoft Cloud. Learn how the device empowers unprecedented and transformational traceability in the industry. <a href="https://twitter.com/hashtag/MSIndustrySolutions?src=hash&amp;ref_src=twsrc%5Etfw">#MSIndustrySolutions</a> <a href="https://t.co/PZ8xajK2Sf">pic.twitter.com/PZ8xajK2Sf</a>
&mdash; Microsoft Industry Solutions (@MSFTSolutions) <a href="https://twitter.com/MSFTSolutions/status/1600158236283486212?ref_src=twsrc%5Etfw">December 6, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trending: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.</a>
Then, in 2020, as Fortune reports, HB Antwerp arrived with a different approach – one that has the potential to rewrite the rules of the diamond business. HB Antwerp simplified everything instead of following the traditional path, where rough diamonds are sold through multiple intermediaries, adding little value but a lot of opacity. They cut out all the middlemen and ensured the countries producing the diamonds got a bigger share of the profits.
<h2 class="wp-block-heading">From Botswana Mines to Blockchain</h2>
Botswana, which has some of the largest diamond reserves in the world, is a close partner of HB Antwerp. They collaborated with the country to guarantee that more of the value remains in the nation and support the expansion of the local economy. Instead of just buying the rough diamonds and reselling them, HB Antwerp offered Botswana a share of the final sale price of polished gems. This means more money stays where the diamonds are found rather than flowing back to London, Antwerp or Tel Aviv – the usual big hubs of the diamond trade.
See Also: ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a>
What's more, HB Antwerp has brought blockchain into the diamond world. The startup uses Microsoft-powered blockchain technology to track each diamond's journey from the mine to the jewelry store. This means transparency, accountability and proof of origin – things the diamond industry has traditionally lacked. Customers can now know where their diamond comes from, how it was mined and who benefited from its journey.
HB Antwerp is still small compared to De Beers, but its impact is expanding. The company owns some of the biggest diamonds ever found, which come from the Karowe mine in Botswana. Using advanced scanning technology, HB Antwerp and its mining partner, Lucara Diamond, have found enormous diamonds – some of the biggest ever pulled from the Earth.
<h2 class="wp-block-heading">The Diamond Giant Takes Notice</h2>
This fresh approach is forcing the rest of the industry to change. De Beers, the historic powerhouse, has started adjusting its practices. Recently, De Beers had to agree to give Botswana a bigger share of its revenues from diamond sales. It's a huge shift from the way things have worked for decades.
Read Next:
<ul>
<li>With over 7.8K investors including Meta, Google, And Amazon Execs — this AI Startup's valuation has skyrocketed from $5 million to $85 million in just three years. <a href="https://www.benzinga.com/money/rad-ai">Be an early investor with just $1,000 for only $0.50/share today before the offer closes in 2 weeks.</a></li>
<li>‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a></li>
</ul>

Startups

'When We Began, They Laughed At Us' – This Startup Is Buying Huge Diamonds And Putting Them On The Blockchain, Taking On De Beers' Reign

Market-Moving Exclusives

EXCLSUIVE: Alzamend Neuro Tells Benzinga 'Data will guide upcoming "Lithium in Brain" Phase II clinical trials in partnership with Massachusetts General Hospital'

Deutsche Bank analyst Benjamin Soff maintains Live Nation Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) with a Buy and raises the price target from $130 to $150.

Deutsche Bank Maintains Buy on Live Nation Entertainment, Raises Price Target to $150

EXCLSUIVE: Alzamend Neuro Tells Benzinga Co. Announces Full Data Set From Its Nonclinical Study, Comparing Brain And Plasma Lithium Exposures Between  AL001 And Lithium Carbonate In Alzheimer's Transgenic Mice

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/607595562290f100012ab4ae/tim-hsiao">Morgan Stanley analyst Tim Hsiao</a> initiated coverage on WeRide Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRD#NASDAQ">WRD</a>) with an Overweight rating and announced a price target of $23. WeRide shares closed at $18.33 on Monday. <a href="https://www.benzinga.com/quote/WRD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler analyst John Barnidge initiated coverage on Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) with an Overweight rating and announced a price target of $188. Apollo Global Management shares closed at $164.31 on Monday. <a href="https://www.benzinga.com/quote/APO/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/602e9a6a5864de000147ed6f/yaron-werber">TD Cowen analyst Yaron Werber </a>initiated coverage on Septerna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEPN#NASDAQ">SEPN</a>) with a Buy rating. Septerna shares closed at $23.55 on Monday. <a href="https://www.benzinga.com/quote/SEPN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Needham analyst Chris Pierce initiated coverage on Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) with a Buy rating and announced a price target of $11. Archer Aviation shares closed at $4.41 on Monday. <a href="https://www.benzinga.com/quote/ACHR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Janney Montgomery Scott analyst Daniel Cardenas initiated coverage on ACNB Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACNB#NASDAQ">ACNB</a>) with a Buy rating and announced a price target of $53. ACNB shares closed at $46.35 on Monday. <a href="https://www.benzinga.com/quote/ACNB/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying APO stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="547" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19072545/image-193-1024x547.png" alt="" class="wp-image-654858" style="width:711px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19072545/image-193-1024x547.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19072545/image-193-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19072545/image-193-768x410.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19072545/image-193.png 1183w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42035732/jim-cramer-super-group-basic-materials-stock-is-very-hard-to-own-here">Jim Cramer: Super Group Finally &#8216;Broke Out,&#8217; This Basic Materials Stock Is &#8216;Very Hard To Own Here&#8217;</a></li>
</ul>

Initiation

Pre-Market Outlook

Markets

Trading Ideas

ACHR

ACNB

SEPN

This Apollo Global Management Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Tuesday

BKKT: 230% &#x7C; <a href="https://www.benzinga.com//node/42058653">Bakkt Holdings shares are trading higher following a Monday report suggesting Trump Media and Technology Group is in talks to buy the company.</a>
&nbsp;
SMCI: 43% &#x7C; <a href="https://www.benzinga.com//node/42058601">Supermicro shares are trading higher after the company announced the appointment of BDO USA as its independent auditor and the filing of a compliance plan with Nasdaq.</a>
&nbsp;
TRNR: 105% &#x7C; <a href="https://www.benzinga.com//node/42059289">Interactive Strength Announces That Armah Sports Group's B_FIT Is Installing Co.'s CLMBR Vertical Climbing Machines In Three Of Its Locations In Saudi Arabia</a>

Bakkt Holdings, Inc. Class A Common Stock

BKKT

SMCI

TRNR

Market-Moving News for November 19th

Morgan Stanley analyst Chris Snyder maintains W.W. Grainger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWW#NYSE">GWW</a>) with a Equal-Weight and raises the price target from $990 to $1215.

Morgan Stanley Maintains Equal-Weight on W.W. Grainger, Raises Price Target to $1215

Accelsius And iM Data Centers Team Up To Introduce Sustainable, High-Performance Cooling Solutions In Miami

Morgan Stanley analyst Hamza Fodderwala maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Overweight and raises the price target from $105 to $106.

FTNT

Morgan Stanley Maintains Overweight on Fortinet, Raises Price Target to $106

Evercore ISI Group analyst Cory Kasimov upgrades BioNTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) from In-Line to Outperform and raises the price target from $110 to $125.

Upgrades

BNTX

Evercore ISI Group Upgrades BioNTech to Outperform, Raises Price Target to $125

Interactive Strength Announces That Armah Sports Group's B_FIT Is Installing Co.'s CLMBR Vertical Climbing Machines In Three Of Its Locations In Saudi Arabia

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) China sales are picking up momentum despite trailing behind Chinese EV maker BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>).
What Happened: Insurance registrations for Tesla vehicles in China came in at 17,100 units for the week ended November 17, down 1.16% from 17,300 in the previous week, <a href="https://cnevpost.com/2024/11/19/china-ev-insurance-registrations-week-ending-nov-17-2024/">reported</a> CnEVPost, citing data shared by Li Auto.
BYD, however, topped Tesla with&nbsp;94,700 insurance registrations in the period, up 10.24 percent from 85,900 vehicles registered the week before. The Chinese EV maker, however, makes both battery electric vehicles and plug-in hybrids, unlike Tesla.
EV startup Li Auto is following Tesla close on heels with weekly registrations touching 12,300 last week. China's newest EV entrant, Xiaomi, also had 5,700 insurance registrations last week. Insurance registrations in China are considered a proxy for sales.
Analyst Take:&nbsp;Tesla Bull&nbsp;and The Future Fund Managing Partner Gary Black deems the latest insurance registration numbers as positive. 
"After 7 weeks, TSLA China 4th quarter is +19.3% YoY and -0.2% QoQ. This was the highest 7th week of a quarter ever," Black wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> China reported 17.1K insured deliveries for the week of Nov 11-17. After 7 weeks, TSLA China 4th quarter is +19.3% YoY and -0.2% QoQ. This was the highest 7th week of a quarter ever. Sources: <a href="https://twitter.com/piloly?ref_src=twsrc%5Etfw">@piloly</a> <a href="https://twitter.com/Tslachan?ref_src=twsrc%5Etfw">@Tslachan</a> <a href="https://t.co/2AapoLlAbE">pic.twitter.com/2AapoLlAbE</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1858744033666912710?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
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Why It Matters:&nbsp;Tesla has to deliver at least 514,926 EVs globally in the last quarter if it is to beat its 2023 delivery number of nearly 1.81 million. China is Tesla's&nbsp;<a href="https://www.benzinga.com/news/24/06/39393504/tesla-rolls-out-upgraded-model-3-performance-to-chinese-customers" target="_blank" rel="noreferrer noopener">second-largest market&nbsp;</a>after the U.S., making deliveries in the region key to realizing Tesla&#8217;s annual delivery goal. 
However, Tesla has never managed to deliver over 500,000 EVs in a quarter to date, making this an&nbsp;<a href="https://www.benzinga.com/tech/24/11/41894615/tesla-q4-deliveries-expected-to-set-new-records-but-not-enough-to-avoid-yearly-sales-decline-says-researcher" target="_blank" rel="noreferrer noopener">ambitious target.</a>
In the third quarter, Tesla reported deliveries of 462,890 vehicles, up 6.4% year-over-year and up 4.3% quarter-over-quarter.
Deliveries fell 8.5% year-on-year in the first quarter and by 4.8% in the second quarter.
Price Action: Tesla&#8217;s stock is down 0.33% in premarket trading on Tuesday. Year-to-date, the Tesla stock has gained 36.4%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/space/24/11/42025066/elon-musks-spacex-delays-starship-test-flight-next-attempt-now-set-for-tuesday" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s SpaceX Delays Starship Test Flight, Next Attempt Now Set For Tuesday</a></li>
</ul>
Photo courtesy: Shutterstock

Analyst Color

Global

Tech

BYDDY

TSLA

Tesla China's Weekly Insurance Registrations Points Towards Strong Q4 In Key Market

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