Today Stock futures rose after a dismal employment data raised Fed rate lowering forecasts.
Top stock gainers
Crypto stocks:- After climbing 10% over the last four sessions, Bitcoin (BTC-USD) crossed $65,000 on Monday morning. MicroStrategy Incorporated (MSTR) climbed 10%, Marathon Digital Holdings (MARA) 8%, Cipher Mining (CIFR) 8%, and CleanSpark (CLSK) 7%. Riot Blockchain (RIOT) and Bitfarms (BITF) surged 5%, Hut 8 Mining (HUT) 5.2%, Coinbase Global (COIN) and Hive Digital (HIVE) 3%, Stronghold Digital Mining (SDIG) 2.7%, and Bakkt Holdings (BKKT) 3.4%.
Li Auto (LI) shares rose 7% after the business said on Weibo that Li L6 orders exceeded 41,000 units between April 18 and May 5. Li Auto received nearly 10,000 orders in its first 72 hours on April 21. By April 30, cumulative orders hit 20,000 units, and by May 4, model orders exceeded 30,000.
Top stock losses
Luminar Technologies (LAZR) shares fell more than 12% on Monday morning after the firm announced a 20% employment cut to move to a “asset-light” model on Friday. Over five years, the restructure is expected to save $400M, or $80M annually. The corporation estimates $6M to $8M in labor reduction costs.
MPW shares fell more than 17% after its largest tenant, Steward Health Care System, filed for Chapter 11 bankruptcy. In response, Medical Properties Trust is finalizing Steward Health Care System’s debtor-in-possession financing. A $75M initial financing and $225M contingent on conditions will be provided.
Premarket
Gainers
Paramount Global’s non-voting Class B (NASDAQ:PARA) shares increased as the entertainment company considered a buyout bid from Apollo Global Management (NYSE:APO) and Sony (NYSE:SONY).
Perficient (NASDAQ:PRFT) shares soared after Swedish private equity firm EQT (ST:EQTAB) agreed to buy the digital consultancy in an all-cash transaction for around $3 billion.
As Bitcoin approached $65,000, cryptocurrency miners Riot Platforms (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) soared.
Energy firm Vistra (NYSE:VST), which is set to replace Pioneer Natural Resources on the S&P 500 index on May 8, saw its stock rise. Exxon Mobil (NYSE:XOM) purchased Pioneer in a $60 billion deal that concluded last Friday.
Losers
Apple (NASDAQ:AAPL) shares fell marginally, reversing gains from the previous two sessions, as Warren Buffett’s Berkshire Hathaway (NYSE:BRKA) reduced its holding in the iPhone maker.
Luminar Technologies (NASDAQ:LAZR) shares fell after the company announced a 20% staff reduction.
Spirit Airlines (NYSE:SAVE) shares were choppy after the budget airline reported an adjusted quarterly net loss that was larger than analyst predictions and three-month revenue that met expectations.
Stocks In Focus
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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.