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Sensex, Nifty Close Flat Ahead of Union Budget; Mid and Smallcaps Shine.

Sensex and Nifty50 Close Flat but The BSE midcap index added 1.3 percent and the smallcap index rose 0.8 percent. Indian benchmark indices ended lower...

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HomeUncategorizedToday's Top Performers: Cal-Maine, PLAY Lead Stock Market Surge, Intel Join the...

Today’s Top Performers: Cal-Maine, PLAY Lead Stock Market Surge, Intel Join the Rally.

Today morning with good economic statistics, stock futures fell modestly amid rate reduction uncertainty.

Top stock gainers


Cal-Maine Foods (CALM) shares rose more than 8% after FQ3 earnings showed 3.2% Y/Y sales growth. The corporation stressed that its robust financial sheet allows it to finance development activities, including acquisitions.

FDA-approved Fanapt (iloperidone) tablets for acute bipolar I disorder manic or mixed episodes in adults boosted Vanda Pharmaceuticals (VNDA) shares by nearly 29%. Approximately 400 individuals were studied for approval. Fanapt, an atypical antipsychotic, has been used to treat acute schizophrenia since its 2009 FDA clearance.

Dave & Buster’s Entertainment (PLAY) climbed 6% after missing consensus in Q4 as it pledged to reach $1B in adjusted EBITDA in the next years. CEO Chris Morris stated Fiscal 2024 will be a pivotal year for our firm with the expected launch of 15 new domestic shops, up to four new overseas D&B units, sustained cost savings, and adjusted EBITDA margin improvement. “Despite the uncertain macroeconomic backdrop, everything we have seen and learned in the last several months has only strengthened our resolve and confidence in our ability to achieve the $1 billion adjusted EBITDA target in the coming years.”

Top stock losses

Intel’s (INTC) shares tumbled over 4% after the chip giant reported a $7B operating loss on $18.9B in Foundry revenues in 2023, up from $5.2B in 2022 on $27.5B. The business expects Foundry operating losses to rise in FY2024 and breakeven between now and 2030.Between now and 2030, it seeks 40% non-GAAP gross and 30% operational margins.

Must read book about investing – check here Today’s Top Performers Today’s Top Performers Today’s Top Performers Today’s Top Performers

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.

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