Today, the last week of March, stock futures are marginally down premarket after a week of record closing highs for key averages.
Top stock gainers
Digital World Acquisition (DWAC):- After shareholders approved the blank-check firm’s merger with former U.S. President Donald Trump’s media and technology company, DWAC shares rose over 8%. Based on DWAC’s stock price, which has more than quadrupled this year, Donald Trump will control a large share in the merged business, which might be worth $3B.
Aurora Cannabis (ACB) shares jumped more than 6% after the firm settled investor charges of concealing a 2019 sales decrease. The stock also rose after Germany’s cannabis legalization measure passed its final obstacle.
The day before Q4 earnings, Forge Global Holdings (FRGE) shares rose 24%. Analysts predict EPS of -$0.11, up 29% year-over-year, and sales of $19.24M, up 14.4%. The startup launched Forge Pro last week, a major step in developing a trade order management system for institutional investors trading private company assets.
After splitting its consumer division, medical technology firm Masimo (MASI) shares rose 12%. The split will include Masimo’s consumer audio and health products to boost healthcare profitability. The Journal also reports that activist investor Politan Capital Management, which has two seats on Masimo’s board, is plotting a proxy campaign to get two more.
Top stock losses
Outlook Therapeutics (OTLK) shares fell over 4% after finishing 22% higher. The European Medicines Agency’s Committee for Medicinal Products for Human Use gave ONS-5010/LYTENAVA a favorable opinion for treating wet age-related macular degeneration, driving the previous trading day’s rise.
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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.