Today, Stock futures remained virtually flat in the premarket hours , following record highs for the S&P 500 and Nasdaq in the prior session, when Nvidia’s market valuation jumped beyond $3 trillion.
Top stock gainers
Lululemon Athletica’s (NASDAQ:LULU) shares rose 9% after the firm outperformed expectations in Q1 and boosted its FY2025 EPS outlook above consensus. Comparable sales were up 7% on a constant currency basis, with overseas sales increasing by 25% due to China’s performance. For Q2, Lululemon predicts EPS of $2.92 to $2.97, below the consensus estimate of $3.03 and revenue between $2.4B and $2.42B, also below estimates of $2.45B. However, for FY2024, profit and sales estimates were greater than the street projected, with EPS between $14.27 and $14.47, better than the consensus of $14.17. Revenue is maintained at $10.7B to $10.8B, in line with the expectation of $14.76B. Additionally, the business authorized a $1B increase in its stock repurchase program.
Biggest stock losers
Top stock losses
Shares of Five Below (NASDAQ:FIVE) dropped more than 15% after releasing Q1 results and an outlook that fell short of market expectations. For Q2, net sales are predicted to be in the range of $830M to $850M, missing the consensus of $881.47M, while adjusted EPS is expected to be in the range of $0.57 to $0.69, which is far below the consensus of $0.97. The business estimates FY2024 revenue to be between $3.79B and $3.87B, far below the average of $4.03B, and adjusted EPS in the range of $5.00 to $4.540 vs. $6.00 consensus.
Despite surpassing projections in Q1 and guiding the FY2024 outlook above consensus, Sprinklr (NYSE:CXM) lost 20% as its near-term Q2 outlook fell short of analysts’ expectations. It forecasts Q2 revenue in the range of $194M-$195M, vs. the consensus of $196.88M and EPS of $0.06-$0.07, vs. the consensus of $0.09. For FY2024, sales is predicted to dip between $779M and $781M vs. the consensus of $805.07M and EPS between $0.40 and $0.41 vs. the consensus of $0.38. The business also announced the appointment of Trac Pham as co-chief executive officer, effective immediately. Pham most recently served as the company’s interim chief operating officer, from January to June 2024, and has served as a member of its board since June 2023.
Dorian LPG (NYSE:LPG) shares plummeted over 7% after announcing plans to sell 2M ordinary shares in a public offering, with an underwriters option to purchase up to an additional 300K shares. The corporation aims to use the funds from the transaction for general corporate objectives.
Premarket
Gainers
Lululemon Athletica (NASDAQ:LULU) stock rose 8.8% after the premium athletic gear retailer recorded first-quarter profit and sales that surpassed projections, while also improving its annual guidance.
Carvana (NYSE:CVNA) stock jumped 3.2% after a bullish note from Evercore ISI, with the investment firm saying the used car retailer is likely to surpass analyst estimates for the first quarter, citing “ongoing share gains amidst a growing used car industry backdrop.”
Nvidia (NASDAQ:NVDA) shares increased 1.7%, continuing to advance after the artificial intelligence chip designer’s market valuation reached $3 trillion during the previous session, overtaking iPhone-maker Apple (NASDAQ:AAPL) as the world’s second most valuable corporation.
Novo Nordisk (NYSE:NVO) stock increased 0.2%, continuing the Danish pharmaceutical giant’s share price surge so far this year thanks in part to robust demand for its profitable Wegovy weight-loss medicine.
Losers
Big Lots (NYSE:BIG) stock plunged 18% after the home-essentials store disclosed a wider-than-expected fiscal first-quarter loss as buyers eschewed big-ticket goods.
Five Below (NASDAQ:FIVE) stock dropped 16% after the discount store slashed its sales projection for the year after a rough quarter, with demand for its once-popular Squishmallows on the wane.
Nio (NYSE:NIO) ADRs dipped 3.2% after the China-based electric car maker posted first-quarter results that missed expectations amid “intensifying competition,” but did present an enthusiastic perspective on the current quarter.
Victoria’s Secret (NYSE:VSCO) stock slumped 2.9% after the lingerie store announced a net loss of $4 million in the first quarter, citing uncertainty regarding the broader retail environment in North America.
Stock in Focus
Chipmaker Nvidia (NVDA) is garnering headlines, surging 2% pre-market after surpassing Apple (AAPL) as the world’s second most valuable company with a record $3.01 trillion market valuation, propelled by a 5.16% stock spike in the last session. This puts Nvidia behind just Microsoft (MSFT), the current market leader with $3.15 trillion market valuation. NVIDIA is all prepared for a 10-for-1 stock split later this month.
Robinhood (HOOD) shares jumped 3.4% in pre-market trading on Thursday after announcing the acquisition of Bitstamp, a worldwide cryptocurrency exchange, for $200M in cash. This merger expands Robinhood’s operations beyond its stock and crypto trading platform, adding an institutional business and access to a bigger customer base across the EU, U.K., U.S., and Asia owing to Bitstamp’s established licenses and registrations. The purchase is expected to finalize in the first half of 2025.
Shares of NIO (NIO) plummeted 4% ahead of the opening bell on Thursday amid poor Q1 statistics and car deliveries. Revenue declined 7.2% Y/Y while vehicle deliveries slipped 3.2% Y/Y and a steeper 39.9% compared to the prior quarter. NIO blamed the decline on greater competition, despite a brighter spot with vehicle margins of 9.2% nearly doubling Y/Y. However, margins were lower than the prior quarter, and the company recorded a greater adjusted net loss. See NIO’s performance in charts.
AMC’s (AMC) stock price sank about 1% pre-market on Thursday despite a strong prior session, following an interesting shareholder meeting. While shareholders supported an equity incentive plan for CEOs, they rejected the company’s proposal on executive pay and voted down the declassification of the board of directors.Today Today Today
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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.