Today, After a record Dow week, stock futures stayed flat in morning.
Top stock gainers
Mining stocks rose Monday morning on a gold and silver surge. Endeavour Silver (NYSE:EXK) rose 6%, Platinum Group Metals (NYSE:PLG) and Gato Silver (NYSE:GATO) rose 5%, Hecla Mining (NYSE:HL) rose 3.4%, Sibanye Stillwater (NYSE:SBSW) rose 2.4%, and Fortuna Silver Mines (NYSE:FSM) rose 3%. Coeur Mining (NYSE:CDE), MAG Silver (NYSE:MAG), Silvercorp Metals (NYSE:SVM), and Pan American Silver (NYSE:PAAS) increased 3%, while Harmony Gold (NYSE:HMY) rose 4%.
After exceeding consensus expectations in Q1 and raising its FY2024 guidance, Wix.com (NASDAQ:WIX) shares rose 7%. The business raised its full-year bookings forecast to $1.796B–$1.826B, up 12–14% Y/Y. This modified outlook’s midpoint is $13M higher than $1.784B–$1.813B. Wix.com also forecasts second-half FY2024 booking growth to reach 16% Y/Y, up from 15%. The company increased its free cash flow margin estimate to ~26%, exceeding its three-year plan target of 25%+ FCF margin for 2025.
Johnson Controls (NYSE:JCI) climbed 5% after activist Elliott Investment Management accumulated a position over $1B in the firm. Elliott’s investment comes as Johnson Controls’ performance has lagged behind its peers. Over the past year, shares of Johnson Controls have grown 9.2%, while Carrier (CARR) soared 52% and Lennox (LII) rose 70%.
Top stock losses
Super Hi International (NASDAQ:HDL) shares fell 7% after the overseas operator of Chinese hot pot chain Haidilao saw their stock rise 46% above its opening price in the first hour of trade and close 14% higher on Friday.
Li Auto (NASDAQ:LI) shares fell over 5% after missing consensus projections on both the top and bottom lines despite 36% Y/Y sales growth and over 53% delivery growth. The business anticipates 105,000–110,000 car deliveries in Q2, up 21.3%–27.1% Y/Y. The estimated revenue range is RMB 29.9B (US$4.1B) to RMB 31.4B (US$4.3B), up 4.2% to 9.4% Y/Y.
Premarket
Gainers
Johnson Controls (NYSE:JCI) stock jumped 6.2% after Bloomberg reported that activist investor Elliott Investment Management has established a stake worth more than $1 billion in the building solutions supplier.
Paramount Global (NASDAQ:PARA) stock increased 2% after the New York Times reported that Sony (NYSE:SONY) and Apollo Global Management (NYSE:APO) have signed non-disclosure agreements that will allow them to look at the U.S. media company’s books ahead of a potential bid for its assets.
Nvidia (NASDAQ:NVDA) stock climbed 1.4% ahead of this week’s quarterly reporting on very high expectations of another round of outstanding results and a bright outlook as the AI infrastructure investment cycle continues.
JPMorgan Chase (NYSE:JPM) stock jumped 0.7% after the investment bank boosted its prediction for net interest income, or the difference between what it makes on loans and pays out on deposits, to $91 billion, excluding markets.
Tesla (NASDAQ:TSLA) stock increased 0.4% after Reuters reported that the EV manufacturer is taking attempts to pacify European leasing businesses after its repeated retail price reduction devalued their fleets and poor service and pricey repairs alienated corporate customers.
Alphabet (NASDAQ:GOOGL) shares climbed 0.4% as the tech giant said its Google unit will invest an additional €1 billion ($1.1 billion) into the expansion of its data centre campus in Finland to fuel its artificial intelligence business growth in Europe.
Losers
Li Auto (NASDAQ:LI) stock slumped 4.6% after the Chinese EV manufacturer announced a forecast for current-quarter sales and deliveries that were both below forecasts.
Ryanair (NASDAQ:RYAAY) ADRs dipped 0.5% after the budget airline cautioned that airfares were not growing as rapidly as previously predicted ahead into the all-important summer travel season.
Target (NYSE:TGT) stock dipped 0.1% after the retailer announced lower prices on nearly 5,000 frequently sought items heading into the holiday weekend.
Stocks In Focus
Must read book about investing – check here Today Today Today Today Today Today Today Today Today
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.