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HomeStocks in FocusToday's Top Performers: CGC Lead Stock Market Surge, GE, Canoo Join the...

Today’s Top Performers: CGC Lead Stock Market Surge, GE, Canoo Join the Rally.

Today, After a strong start for indices like the S&P 500, stock futures were mostly steady , indicating a cautious Q2 start

Top stock gainers

After Institutional Shareholder Services backed the new Canopy USA LLC plan, CGC shares rose 5%. The plan gives present owners non-voting, non-participating exchangeable shares of a separate class to comply with US federal law. The vote permits each common share to be converted into one exchangeable share. Canopy Growth is doing this to speed up its US market entrance and unlock value in its cannabis ecosystem. After marijuana is legalized federally, Canopy USA will buy Acreage Holdings Inc., Wana Wellness, and Jetty Extracts, among other cannabis firms, to position itself for lucrative expansion.

Top stock losses


Canoo (GOEV) stock fell 29% after the electric car company reported mixed Q4 performance and a poor forecast. The firm predicted FY2024 sales between $50M and $100M, below consensus of $152.5M. Tony Aquila, Canoo’s Investor, Executive Chairman, and CEO, says, “With positive customer validation, we are now focused on harmonizing our supply chain to align with our step-level manufacturing goals while maintaining disciplined capital allocation.”

After splitting into three firms, General Electric (GE) fell 20%. After restructuring, GE Vernova focused on energy while GE Aerospace took over GE’s aerospace sector, changing GE’s direction. In January 2023, GE HealthCare was founded to integrate healthcare operations. Without a controlling company, each entity will report its financial results individually. There will be one Nasdaq and two NYSE listings in New York.

Following a 21% drop on Monday, Trump Media (DJT) shares fell 4% premarket Tuesday. This fall erases last week’s gains when the business went public. The business also reported a $58M net loss in 2023 on $4.1M revenue to the SEC on Monday. The company’s net profit fell from $50.5M in 2022 on $1.47M in sales.

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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.

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