Today’s Top Performers
Stock futures were mixed Friday morning after the tech-heavy Nasdaq Composite closed at a record high for the first time in two years on Thursday.
Top stock gainers
Dell Technologies’ (NYSE:DELL) shares rose over 20% after a good Q4 report, led by high demand for its AI servers. Dell expects a growth rebound in fiscal year 2025 and beyond due to various positive developments. Compared to the expectation of flat growth, the business expects 3% to 4% sales growth and 8% diluted earnings per share growth for FY2025. Dell also hopes to convert net income to adjusted free cash flow at 100% or higher. Dell raised its annual dividend 20% to $1.78 per share.
FuboTV’s (NYSE:FUBO) shares rose 11% ahead of its Q4 earnings report today. The firm is expected to report EPS of -$0.24, up 38.5% Y/Y, and sales of $397.81M, up 24.6%.
Autodesk (NASDAQ:ADSK) shares rose 8% after its good Q4 earnings and bullish FY2025 sales projection. The business estimates FQ1 2025 EPS of $1.73 to $1.78, matching the $1.78 average. Revenue is expected to be $1.385B–$1.4B, below analysts’ $1.389B estimate. For FY2025, Autodesk expects EPS between $7.89 and $8.11, compared to $8.11, and sales between $5.99B and $6.09B, slightly above the average estimate of $5.978B.
Top stock losses
Shares of New York Community Bancorp (NYSE:NYCB) fell nearly 21% after the lender uncovered significant internal accounting issues and announced leadership changes. Ineffective oversight, risk assessment, and monitoring cause weaknesses. The bank completed its goodwill impairment assessment on February 23, lowering Q4 and yearly profits by $2.4B due to pre-2008 financial crisis activities. Its regulatory capital ratios and cash expenditures were unaffected by the impairment charge. Following his short-term executive chairmanship to strengthen corporate operations, Alessandro DiNello became CEO and president.
SoundsHound AI (NASDAQ:SOUN) fell 18% after missing Q4 earnings projections. SoundHound predicts FY2024 sales to be between $63M and $77M, compared to the average expectation of $69.73M, despite securing arrangements with Jersey Mike’s, Krispy Kreme, White Castle, and Church’s Chicken to employ its speech AI in their locations last year. The firm expects FY2025 revenue over $100M and positive adjusted EBITDA.
Must read book about investing – check here
Today’s Top Performers Today’s Top Performers
Today’s Top Performers Today’s Top Performers