Become a logicalchat Member

Latest Post

What are the 4 levels of industry in Canada?

4 levels of industry in Canada Canada's economy is shaped by a diverse and dynamic industrial structure that includes four distinct levels of industry....

Is RRSP the Best Investment?

Your story starts here. Sign up and let's connect in ways that truly matter!

HomeUncategorizedToday's Top Performers: CANOO, Li Auto Lead Stock Market Surge, 3M Join...

Today’s Top Performers: CANOO, Li Auto Lead Stock Market Surge, 3M Join the Rally.

Today Stock futures rose slightly in premarket trade, kicking off April and the second quarter well.

Top stock gainers

CANOO (NASDAQ:GOEV) shares surged 5% before its Q4 results announcement after market close. Investors expect good earnings, which may explain the market’s confidence. GOEV topped EPS projections 50% of the time and revenue estimates 0% of the time last year. The previous three months have seen one upward change to EPS expectations.

The top stock gainer was Li Auto (NASDAQ:LI) which rose 4% after exceeding Q1 delivery forecasts. The first Chinese rising new energy carmaker to exceed 700,000 cumulative deliveries was them in March. March delivered 28,984 units, up 39.2% Y/Y. Q1 deliveries reached 80,400 cars, a 52.9% Y/Y increase over the company’s revised target of 76,000–78,000.

Top stock losses

3M (NYSE:MMM) shares fell 13% as Solventum (SOLV), its fast-growing healthcare division, started trading separately today. Solventum’s $8.2B annual revenue stream (FY 2023) and ~$93 billion market potential are decoupled from 3M’s slower-growing industrial and consumer product categories.

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.

Related Post