Today Stock futures fell slightly while Treasury rates jumped in the early trading hours of Monday, ahead of anticipated data releases and significant bank reports later this week.
Top stock gainers
EHang Holdings Limited (EH) shares increased 6% after receiving the Production Certificate (PC) from the Civil Aviation Administration of China for its EH216-S eVTOL aircraft, the first in the worldwide eVTOL market. This breakthrough is a critical step toward mass production and commercial operations for eVTOL aircraft. Mr. Huazhi Hu, Founder, Chairman, and CEO of EHang, commented, “The issuance of the PC is pivotal for the EH216-S as it opens the door to mass production and is a crucial step for our advancement towards commercial operations.”
Fastly (FSLY) shares increased more than 4% after Piper Sandler upgraded the company to Overweight from Neutral, citing rising market dominance in the CDN industry. However, analyst James Fish reduced the stock’s price objective to $16 from $19, representing a 28% rise from Friday’s finish of $12.53. Fish thinks that as competitors exit, the company will gain market share and lower prices. He stated that the recent decline in prices has resulted in a favorable risk-reward scenario based on current valuations and stock fundamentals.
Bitcoin reached $72,000 once more, causing shares of cryptocurrency-related firms to rise. Coinbase Global (COIN) increased by 5%, Riot Blockchain (RIOT) increased by 5.9%, Marathon Digital Holdings (MARA) increased by 7.6%, Hut 8 Mining (HUT) increased by 5.8%, Cleanspark (CLSK) increased by 7.4%, MicroStrategy Incorporated (MSTR) increased by 12.2%, Cipher Mining (CIFR) increased by 8%, Stronghold Digital Mining (SDIG) increased by 2.3%, Bitdeer Technologies Holding Company (BTDR) increased by 3.4%, and Bakkt Holdings (BKKT) increased by 6%.
Top stock losses
Boeing shares slumped 1.1% after an engine cover of a Southwest Airlines (NYSE:LUV) Boeing 737-800 broke off during takeoff in Denver and hit the wing flap, adding to the aircraft manufacturer’s previous malfunctions. SW stock declined 0.5%
Premarket
Gainers
Coinbase (NASDAQ:COIN) shares surged 5.7% on Monday as Bitcoin, the world’s favorite digital currency, gained.
Tesla shares jumped 2.3% after Elon Musk, CEO of the EV firm, said on social media that Robotaxi will launch around the start of August, increasing demand for its services.
Taiwan Semiconductor Manufacturing (NYSE:TSM) shares increased 1.7% after the Commerce Department awarded its Phoenix business a $6.6 billion subsidy for advanced semiconductor manufacture.
Ferrari (NYSE:RACE) shares increased 0.7% after CEO Benedetto Vigna stated the Italian luxury car company wants to improve its battery cell knowledge due to its transition to electrified vehicles but has no intentions to manufacture them.
After refiling a $16.5 billion proposal to purchase manufacturing subcontractor Catalent (NYSE:CTLT), Novo Nordisk (NYSE:NVO) shares climbed 0.3%.
Spirit Airlines (NYSE:SAVE) shares climbed 0.2% after the low-cost carrier stated it will postpone all Airbus aircraft purchases from the second quarter of 2025 to the end of 2026 to 2030-2031 to save money.
Losers
Boeing shares slumped 1.1% after an engine cover of a Southwest Airlines (NYSE:LUV) Boeing 737-800 broke off during takeoff in Denver and hit the wing flap, adding to the aircraft manufacturer’s previous malfunctions. SW stock declined 0.5%.
After United Airlines (NASDAQ:UAL) postponed its investor day for early next month due to an FAA safety review, the shares slid 1%.
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.