Today’s Top Performers
In anticipation of inflation statistics, stock futures fell in the early trading hours of Monday after the Dow Jones Industrial Average had its worst week since October.
Top stock gainers
Cryptocurrency-linked stocks climbed as Bitcoin reached a record $71,000. Coinbase Global (NASDAQ:COIN) rose 7%, Riot Blockchain (NASDAQ:RIOT) rose 3.3%, Marathon Digital Holdings (NASDAQ:MARA) rose 5%, Hut 8 Mining (NASDAQ:HUT) rose 4%, Cleanspark (NASDAQ:CLSK) rose 4.2%, MicroStrategy Incorporated (NASDAQ:MSTR) rose 6.6%, Cipher Mining (NASDAQ:CIFR) rose 5.4%, Stronghold Digital Mining (NASDAQ:SDIG) rose 3.2%, Hive Blockchain Technologies (NASDAQ:HIVE) rose 3.8%, Bitdeer Technologies Holding Company (NASDAQ:BTDR) climbed 3%, and Bakkt Holdings (NYSE:BKKT) increased by 1%.
Mesoblast’s (NASDAQ:MESO):- After the FDA proposed an accelerated approval pathway for rexlemestrocel-L, Mesoblast’s allogeneic mesenchymal precursor cell product, in patients with end-stage ischemic heart failure with reduced ejection fraction and a left ventricular assist device, the stock rose 32%. Mesoblast CEO Dr. Silviu Itescu was pleased with the FDA’s comments and plans to request a pre-Biologics License Application (BLA) meeting to discuss data presentation, timeline, and FDA expectations for rapid approval. The FDA’s remarks indicate a reasonable clinical benefit, supporting fast approval. Mesoblast will request an FDA pre-BLA meeting to discuss next actions.
Top stock losses
Ocular Therapeutix (NASDAQ:OCUL) shares fell more than 15% before its Q4 results announcement, despite analyst projections of year-over-year EPS and sales increase. Over the past two years, OCUL has only met EPS and sales predictions 13% and 25% of the time, respectively.
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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.