Today, Stock futures fell marginally in premarket as traders awaited CPI data.
Top stock gainers
NXT shares rose 12% after the solar tracker and software company posted better-than-expected FQ4 earnings, including 42% Y/Y sales growth. Against the expectation of $2.87B, the business predicts FY2025 sales of $2.8B to $2.9B and adjusted diluted EPS of $2.89 to $3.09, compared to $3.10.
Meme stocks like GameStop (NYSE:GME) and AMC (NYSE:AMC) gained over 25% on Wednesday morning, building on gains from the previous two days. The tweet from retail investing icon Keith Gill, or “Roaring Kitty.” looks to promote meme frenzy. Gill’s first post in three years has sparked trade and price increases thanks to conjecture.
Top stock losses
Despite a 34% Y/Y revenue gain and 49% Y/Y total payment volume growth, dLocal (NASDAQ:DLO) shares fell 27% after the business missed consensus sales and earnings projections. Higher operational expenditures and a drop in gross profit resulted in an adjusted EBITDA of $37M, down 19% from the previous year and 25% from the prior quarter.
Petrobras (NYSE:PBR) shares tumbled 8% after Brazil President Luiz Inacio Lula da Silva sacked CEO Jean Paul Prates and replaced him with Magda Chambriard, the former head of ANP. After reporting a larger-than-expected loss in net profit for Q1 and reducing dividends, the corporation changed leadership. In the March quarter, the company’s net recurring profit plummeted by 38% Y/t to 23.9B reais (~$4.63B), below the analyst consensus forecast of 30.2B reais. Revenues also declined by 15% to 117.7B reais, despite higher Brent prices, while adjusted EBITDA decreased by 17% Y/ Petrobras’ board authorized a payout of 1.04 reais per share, totaling 13.45B reais (~$2.6B), below Bloomberg’s expected $3.2B.
Despite outperforming expectations in Q1, Boot Barn (NYSE:BOOT) shares fell over 6% on a poor FY2024 projection. It predicts sales between $1.77B and $1.80B, below the average of $1.82B, and EPS between $4.55 and $4.85, below the consensus of $5.16.
Premarket
Gainers
Nextracker (NASDAQ:NXT) shares gained 14% after the solar tracker manufacturer reported quarterly earnings and revenue that above forecasts, owing to strong demand in the United States and other regions.
New York Community Bancorp’s (NYSE:NYCB) stock increased 3.9% after the lender agreed to sell a portfolio of around $5 billion in mortgage warehouse loans to JPMorgan.
Walmart’s (NYSE:WMT) shares climbed 0.1% after the retailer revealed plans to slash hundreds of positions at its global headquarters and shift the majority of its remote staff in the United States and Canada to three offices.
Losers
Dlocal (NASDAQ:DLO) stock plunged 28% after the fintech company’s first-quarter financial report below Wall Street forecasts.
AMC Entertainment (NYSE:AMC) stock slumped 11% after posting significant gains this week, after the movie chain’s disclosure of a debt-for-equity exchange in which it will issue more than 23 million shares.
Boot Barn (NYSE:BOOT) shares slumped 6.5% after the footwear retailer forecasted lower-than-expected sales patterns for the fiscal year ahead, citing continued sluggish consumer demand.
Boeing’s (NYSE:BA) stock declined 1.1% after the US Justice Department stated that the aircraft manufacturer had violated its responsibilities under a 2021 agreement that protected the company from criminal prosecution for fatal 737 MAX accidents.
Tesla (NASDAQ:TSLA) shares dipped 0.2% as the EV manufacturer’s Chinese sales plummeted 11% week on week, dropping to 9,800 units.
Stocks In Focus
Monday.com (MNDY) shares rose more than 19% in pre-market trade after reporting a Q1 top and bottom line beat and above-expected current quarter and full year sales forecast. Israel-based monday.com (MNDY) provides cloud-based work management. The company’s performance improved due to a 48% and 55% increase in paying customers with over $50K and $100K in annual recurring income, respectively. “These results are supported by recent adjustments made to our pricing model, which thus far have exceeded our initial expectations,” Monday.com (MNDY) finance head Eliran Glazer said.
CSCO shares will be watched following the closing bell as the networking company reports FQ3 2024 results. Wall Street predicts $0.82 per share on $12.63B in sales from the Dow 30 component. Due to Cisco’s (CSCO) campus networking business’s struggles and low demand for switches and wireless local area networks, both data indicate Y/Y reductions. Cisco (CSCO) will issue its first quarterly report since acquiring Splunk for $28B in March.
NYCB stock rose almost 4% before the opening bell after the beleaguered lender agreed to sell $5B in mortgage warehouse loans to a JPMorgan affiliate. New York Community Bancorp (NYCB) anticipates the preferred to increase its liquidity and CET1 capital ratio by 65 basis points. In March, New York Community Bancorp (NYCB) raised more than $1B from a consortium led by former Treasury Secretary Steven Mnuchin’s business, allaying investors’ concerns about a capital injection.
After the closing bell, Berkshire Hathaway’s 13F filing will be watched. Major funds report quarterly stock ownership changes in these regulatory filings. Berkshire (BRK.A)(BRK.B) may divulge the hidden shares it has been buying since H2 last year. At Berkshire (BRK.A)(BRK.B)’s annual shareholder meeting this month, chairman and CEO Warren Buffett didn’t discuss the mystery stock. The secret moniker may be a financial stock, says Barron’s.
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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.