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Weekly Dividend Report: FedEx, Caterpillar, Oracle, Dell, and more Announce Payouts.

Weekly Dividend Report saw increased payouts from FedEx and Caterpillar, declarations from Oracle and Dell Technologies, and ex-dividend dates for UnitedHealth and Hewlett...

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HomeStocks in FocusToday's Top Performers: CrowdStrike, Southwest Airlines, Diamond Offshore Drilling and More Make...

Today’s Top Performers: CrowdStrike, Southwest Airlines, Diamond Offshore Drilling and More Make Big Moves.

Today, Stock futures slipped in the premarket hours as the market braced for a busy week, involving a Federal Reserve policy meeting and the release of important inflation numbers.

Top stock gainers

Shares of KKR (NYSE:KKR) surged 10%, CrowdStrike (NASDAQ:CRWD) was +5%, and GoDaddy (NYSE:GDDY) was up over 3%, as these firms are slated to be included in the S&P 500 in line with a quarterly rebalance, effective June 24. They will replace Robert Half (RHI), Comerica (CMA), and Illumina (ILMN). Robert Half and Comerica (CMA) will replace Anywhere Real Estate (HOUS) and ADTRAN (ADTN) in the S&P SmallCap 600, while Illumina (ILMN) replaces GoDaddy (GDDY) in the S&P MidCap 400.


Southwest Airlines (NYSE:LUV) shares soared about 6% on a report that activist investor Elliott Investment Management had built an approximately $2B stake in the airline, making it one of the top shareholders. Elliott Management aims to advocate for reforms.


Shares of Diamond Offshore Drilling (NYSE:DO) jumped more than 7% after offshore drilling contractor Noble (NYSE:NE) announced plans to purchase the firm in a cash and stock deal, creating a fleet of 41 rigs. Diamond Offshore (DO) stockholders will get 0.2316 shares of Noble (NE) and a cash consideration of $5.65 per share. This is a 11.4% premium to the closing stock prices on June 7. Upon completion, Diamond investors will possess around 14.5% of Noble’s outstanding shares.

Top stock losses

Perion Network (NASDAQ:PERI) shares dropped 20% after the business adjusted Q2 and FY 2024 financial guidance. The business estimates Q2 revenue in the range of $106M to $108M, below the consensus of $120.05M For FY2024, revenue is predicted to decline between $490M and $510M, far below the consensus of $600.94M.

Premarket

Gainers

Southwest Airlines (NYSE:LUV) stock rose 9% after the Wall Street Journal reported that activist investor Elliott Investment Management has established a nearly $2 billion investment in the carrier and planned to press for changes.

GameStop (NYSE:GME) shares surged 7.7%, rising off Friday’s 40% slump in the aftermath of a major first-quarter sales disappointment, as the meme stock favorite’s wild trading continued.

CrowdStrike (NASDAQ:CRWD), KKR (NYSE:KKR) and GoDaddy (NYSE:GDDY) all surged substantially after S&P Dow Jones Indices indicated the businesses would be included in the S&P 500 later this month, replacing Robert Half (NYSE:RHI), Comerica (NYSE:CMA) and Illumina (NASDAQ:ILMN).

DraftKings (NASDAQ:DKNG) shares jumped 2% after Morgan Stanley added the betting company to its Top Pick list, citing strong catalysts from capital return and repeated expectations.

Moderna (NASDAQ:MRNA) stock increased 1.5% after the biotech company claimed its combo vaccine, which targets both Covid-19 and the flu, was more successful than existing standalone injections in a late-stage experiment.

Broadcom (NASDAQ:AVGO) stock jumped 1.4% after Morgan Stanley resumed coverage of the semiconductor business as ‘overweight’, calling it one of the strongest AI investments.

Apple (NASDAQ:AAPL) shares climbed 0.4% ahead of the commencement of the tech giant’s annual developer conference, where it’s expected to highlight how it is integrating artificial intelligence across its software suite, including a revised Siri voice assistant and a likely tie-up with ChatGPT owner OpenAI.

Losers

Tesla (NASDAQ:TSLA) stock slipped 0.2% after Norway’s $1.7 trillion national wealth fund stated it will vote against ratifying CEO Elon Musk’s $56 billion pay package, which is up for a shareholder vote.

Stock in Focus

Must read book about investing – check hereTodayToday Today Today Today Today

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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