Shares of Align Technology (NASDAQ: ALGN) jumped 27% on Thursday after the orthodontics leader's profits surpassed investors' expectations in its fourth-quarter earnings announcement Wednesday. After declining for several quarters, Align's revenue inched up 1.3% sequentially to $901.5 million in the fourth quarter. Meanwhile, the medical device company's imaging systems and services sales grew by 7.8%, to $169.9 million.
Wall Street heard exactly what it wanted to hear from the Federal Reserve, and that sparked a new rally in the stock market that looked poised to continue on Thursday morning. After having taken the brunt of the bear market hit in 2022, the Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped at the opening bell, up 2.3% as of 9:41 a.m. ET. A pair of stocks contributed the most to the Nasdaq's rally.