Today, Stock futures were neutral in the premarket hours of Friday as market participants eagerly awaited a critical jobs report due later today.
Top stock gainers
GameStop (NYSE:GME) and meme stocks jumped again after the Roaring Kitty YouTube channel, which Keith Gill used in 2020 and 2021, announced a livestream on Friday. The broadcast incorporates a graphic with a Game of Thrones reference, suggesting that Gill’s message is “explosive,” leading meme stocks to jump again. GameStop stock was up 34% on Friday after closing 47% higher in the previous session. AMC Entertainment (AMC) shares climbed 12.6%, Koss (KOSS) increased 8% while BlackBerry (BB) rose nearly 5%.
Braze (NASDAQ:BRZE) surged 14% after posting positive FQ1 results and outlook. The business forecasts FQ2 revenue between $140.5M and $141.5M, vs. $139.76M estimate, and non-GAAP net loss per share between $(0.03) and $(0.04), vs. -$0.04 consensus. For FY2025, revenue is predicted to decline between $577.0 and $581.0, vs. $574.09M consensus, while non-GAAP net loss per share is between $(0.06) and $(0.10), vs. -$0.09 consensus.
Top stock losses
Shares of DocuSign (NASDAQ:DOCU) dropped 7%, even though the business published better-than-expected Q1 results and forecast. The business forecasts Q2 revenue in the range of $725M to $729M vs. the consensus of $726.53M and billings in the range of $715M to $725M vs. the consensus of $720M. For FY2025, DocuSign forecasts revenue between $2.92B and $2.932B vs. the consensus of $2.92B, along with billings between $2.98B and $3.03B as compared to analysts’ estimates of $2.997B. The corporation recently expanded its stock-buyback program by $1B.
Vail Resorts (NYSE:MTN) shares declined roughly 7% after missing the consensus mark in FQ3 earnings, with the lodging segment down 6.8% and Australia’s Epic Pass sales down 22%. Poor skiing conditions in North America and Australia impacted the outcome. However, ski conditions turned for the better in March and April, with tourism throughout Vail’s western North American destinations in particular benefiting from additional travel. The business anticipates the full-year pass unit and sales dollar trends will be generally steady with the spring results. The business estimates resort-reported EBITDA to be between $825M and $843M for the full year.
Premarket
Gainers
Geron (NASDAQ:GERN) shares gained 25% after the biopharmaceutical company earned its first approval from the U.S. Food and medicine Administration for its blood disease medicine Rytelo.
J.Jill (NYSE:JILL) stock jumped 5.1% after the clothing retailer revealed better-than-expected first-quarter profits, raising its full-year sales guidance.
Lyft (NASDAQ:LYFT) shares jumped 3% after the ride-hailing business revealed it was anticipating gross bookings to expand around 15% at a compound annual rate over the next three years.
Apple (NASDAQ:AAPL) shares climbed 0.3% ahead of the iPhone maker’s upcoming developers conference on Monday, when it’s expected to announce information on its next major software upgrade.
Losers
GameStop (NYSE:GME) stock dropped 20% after the video game retailer reported a steep reduction in net sales in the first quarter from a year previous, while also reporting a loss of $32.3 million during the quarter. The stock had been substantially higher earlier ahead of a YouTube livestream by Keith Gill, popularly known as “Roaring Kitty”, later Friday.
DocuSign (NASDAQ:DOCU) stock plummeted 6.5% after the software firm’s second-quarter guidance disappointed, even as it topped expectations with its first quarter profits.
Nvidia (NASDAQ:NVDA) shares declined 0.2%, following the previous session’s losses which saw the chipmaker’s market worth dropping below the $3 trillion barrier, below that of Apple, again making it the world’s third-most valuable corporation.
Stock in Focus
GameStop (NYSE:GME) reversed direction before of market open and lost approximately 21%, currently trading at $46.22 after a surprise negative Q1 results and a $75M share offering. Before the earnings update, GME was trading around $62, more than 30% higher. The stock had been in the headlines the whole week, surging more than 40% over the preceding 5 days, as influential trader Keith Gill, known online as Roaring Kitty, revealed a significant stake on the firm. Gill has also booked a YouTube broadcast at noon on Friday.
Geron (NASDAQ:GERN) shares jumped by 17% premarket after the FDA authorized imetelstat as a late-line treatment for myelodysplastic syndromes (MDS). The telomerase inhibitor, known as Rytelo, will be available in the U.S. for persons with low- to intermediate-risk MDS who have acquired anemia requiring blood transfusions. The treatment is indicated for patients who have failed to respond or are ineligible for erythropoiesis-stimulating medications.
Lyft (NASDAQ:LYFT) witnessed a 3% gain on a pair of upgrades, led by the company’s optimistic outlook for gross bookings to grow around 15% annually through 2027. Bank of America changed its recommendation from Underperform to Buy, citing the possibility for valuation multiples to converge over time. Meanwhile, Loop Capital also increased its rating to Buy from Hold, emphasizing Lyft’s impressive comeback. Analyst Rob Sanderson feels Lyft’s ambitions of a 15% annual growth rate in gross bookings and a margin expansion of about 4% are highly attainable. Loop Capital assigned a price target of $20 for Lyft.
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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.