Today, Stock futures were slightly higher in the premarket hours of Friday, following the Dow Jones’ worst showing since March 2023.
Top stock gainers
Deckers Outdoor (NYSE:DECK) shares gained nearly 9% on the strength of strong Q1 results. Total sales for the quarter grew 21.2% Y/Y, with the UGG brand jumping 14.9% and HOKA 34.9% Y/Y. For FY2025 sales to be up 10% to $4.7B vs. $4.69B consensus, EPS of $29.50 to $30.00 is projected, compared to the consensus expectation of $30.11. The gross margin is estimated to be roughly 53.5%.
Ross Stores (NASDAQ:ROST) climbed 8% on reporting better-than-expected Q1 results and upgrading the FY2024 guidance. The comparable sales expectation for the year remains unchanged at +2% to +3%, with EPS currently projected to be in the region of $5.79–$5.98 per share compared to earlier guidance of $5.56 and the consensus of $5.94. For Q2, comparable store sales are predicted to climb by 2% to 3% on top of a 5% gain a year ago and EPS to be in the range of $1.43 to $1.49, in line with the consensus of $1.46.
Top stock losses
Despite posting stronger than expected Q1 earnings results, Workday (NASDAQ:WDAY) shares fell almost 11% as the back office software supplier lowered its FY2025 subscription revenue outlook from $7.73B-$7.78B to $7.7B-$7.725B, up 17% Y/Y. Q2 subscription revenue is estimated to be $1.895B and the adjusted operating margin to be 24.5%, in line with projections.
Intuit (NASDAQ:INTU) shares slumped 6% even though the business outperformed expectations in FQ3 and issued an enthusiastic sales estimate for FQ4, projecting 13%–14% growth to $3.06B–$3.10 vs. the $3.05B average. However, the business forecasts adjusted EPS in the range of $1.80–$1.85, which is lower than the consensus of $1.92.
Premarket
Gainers
Deckers Outdoor (NYSE:DECK) stock jumped 8.8% after the athletic shoes retailer announced excellent quarterly sales growth, bolstered by demand for its HOKA and UGG brands.
Lucid Group (NASDAQ:LCID) stock climbed 1.5% after the EV maker stated it would reduce its headcount by 6%, or roughly 400 employees, as the industry grapples with slower growth.
Nvidia (NASDAQ:NVDA) shares jumped 1.1%, adding to the chipmaker’s 9% gains on Thursday after its blockbuster first quarter profits, following a report by Reuters that it had been pushed into selling artificial intelligence processors in China at steep discounts due to tough competition from local rivals.
Boeing (NYSE:BA) stock rose 0.6%, with the aircraft manufacturer rebounding after slumping over 7% on Thursday after it disclosed that it has not made recent aircraft deliveries to China due to a request from the country’s aviation regulator for additional certification documents, which is set to hit its second-quarter cash flow.
Tesla (NASDAQ:TSLA) shares increased 0.3% despite industry reports claiming the EV firm had dropped output of its best-selling Model Y electric car by a double-digit percentage figure at its Shanghai plant since March.
Losers
Workday (NASDAQ:WDAY) stock dropped 11% after the human resources software provider lowered its annual subscription revenue outlook.
Intuit (NASDAQ:INTU) stock slumped 5.7% as investors concerned over a loss of free customers at its all-important TurboTax tax-preparation program.
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After reporting 8% Y/Y subscription revenue growth in 4Q24, DocuSign (NASDAQ:DOCU) shares rose 10%. Electronic signature business predicts 1Q25 revenue of $704M to $708M, above analysts’ $699.1M forecast. DocuSign expects sales of $2.91B to $2.92B this year, with consensus of $2.91B. Customer adoption of Contract Lifecycle Management and eSignature in StateRAMP-authorized environments was also emphasized by the organization.
MongoDB (NASDAQ:MDB) shares fell 8% after exceeding Q4 profit and sales forecasts owing to its dovish FY2025 outlook. MongoDB expects revenues of $436M to $440M in Q1, below the average expectation of $449.08M. Below the estimate of $0.61, non-GAAP EPS is expected to be $0.34–$0.39. The business estimates FY2024 sales between $1.9B and $1.93B, below the average of $2.03B. Unlike the consensus of $3.22, non-GAAP EPS is expected to be $2.27 to $2.49.
Marvell Technology (NASDAQ:MRVL) shares fell over 7% after solid Q4 earnings due to a dismal Q1 guidance. The business predicts Q1 sales of $1.15B, plus or less 5%, behind analysts’ $1.36B. Marvell predicts adjusted gross margins of 62% to 63% and adjusted earnings of $0.18 to $0.28 per share, significantly below the average forecast of $0.40. Marvell announced $3B in stock buybacks.
Despite a 5.7% Y/Y rise, Costco Wholesale’s NASDAQ:COST shares plummeted roughly 4% as its FQ2 earnings reports fell short of the top-line estimate. Comparable sales increased by 5.6% during the quarter, above the 5.1% estimate.
MongoDB (NASDAQ:MDB) shares fell 8% after exceeding Q4 profit and sales forecasts owing to its dovish FY2025 outlook. MongoDB expects revenues of $436M to $440M in Q1, below the average expectation of $449.08M. Below the estimate of $0.61, non-GAAP EPS is expected to be $0.34–$0.39. The business estimates FY2024 sales between $1.9B and $1.93B, below the average of $2.03B. Unlike the consensus of $3.22, non-GAAP EPS is expected to be $2.27 to $2.49.
Marvell Technology (NASDAQ:MRVL) shares fell over 7% after solid Q4 earnings due to a dismal Q1 guidance. The business predicts Q1 sales of $1.15B, plus or less 5%, behind analysts’ $1.36B. Marvell predicts adjusted gross margins of 62% to 63% and adjusted earnings of $0.18 to $0.28 per share, significantly below the average forecast of $0.40. Marvell announced $3B in stock buybacks.
Despite a 5.7% Y/Y rise, Costco Wholesale’s NASDAQ:COST shares plummeted roughly 4% as its FQ2 earnings reports fell short of the top-line estimate. Comparable sales increased by 5.6% during the quarter, above the 5.1% estimate.