Today, Stock futures rose up in premarket following solid earnings from semiconductor titan NVIDIA.
Top stock gainers
NVIDIA (NVDA) shares rose 6% after the business posted better-than-expected quarterly results and expectations, and announced a 10-to-1 stock split, beginning June 7. The semiconductor giant also hiked its quarterly dividend by 150% to $0.01 per share on a split-adjusted basis. For 2Q25, Nvidia plans to achieve $28B in sales, plus or minus 2% vs. the consensus of $26.8B.
DuPont (NYSE:DD) shares gained 5% after unveiling intentions to split into three publicly traded firms. The electronics and water units will be separated through tax-free transactions, and the remaining diversified industrial company will be comprised of existing businesses within the water and protection segment, industrial solutions, including healthcare, and retained businesses reported in corporate, including adhesives. The company also announced plans to appoint existing CFO Lori Koch as its next CEO, beginning June 1, succeeding Ed Breen. Koch has served as DuPont’s CFO since February 2020 and will be succeeded by Antonella Franzen, who has been working as the CFO of the company’s Water & Protection sector since 2022.
Shares of the cloud computing firm Snowflake (NYSE:SNOW) surged over 4% on mixed Q1 earnings with topline growth of 33% Y/Y and an encouraging outlook. The business forecasts Q2 product revenue to range from $805M to $810M vs. the consensus of $787.5M and full-year product revenue of $3.3B vs. the consensus of $3.26B.
Top stock losses
V.F. Corporation (NYSE:VFC) shares plummeted roughly 11% on missing projections in Q1 earnings, with sales declining 13% Y/Y and registering a loss compared to a profit the prior year. The company’s revenue reduction was attributable to declining sales across brands and geographies. The North Face company declined 5%, while Vans plunged 26%. The Timberland business suffered a 14% revenue decline, while the Dickies division fell 15%. All geographic regions saw revenue reduction during the quarter, topped by a 22% dip for the Americas.
Premarket
Gainers
Nvidia (NASDAQ:NVDA) stock rose over 7% as the chipmaker’s first quarter profits blew past estimates, as well as offering up a stronger-than-expected sales forecast for the current quarter, as it continues to benefit from robust demand in the booming AI market.
DuPont (NYSE:DD) stock surged 5.4% following the U.S. conglomerate’s announcement of plans to split into three publicly traded entities.
Snowflake (NYSE:SNOW) stock climbed 3.9% after the data cloud analytics startup anticipated second-quarter product sales above projections and boosted its annual expectations.
Taiwan Semiconductor Manufacturing (NYSE:TSM) stock jumped 2.7% after the Taiwanese contract chipmaker anticipated annual revenue growth of 10% in the global semiconductor market, excluding memory chips.
Advanced Micro Devices (NASDAQ:AMD) and Broadcom (NASDAQ:AVGO) increased over 2% apiece, with Nvidia’s peers benefiting from the sustained AI demand, while memory chip maker Micron Technology (NASDAQ:MU) rose 3.8% and chip designer Arm Holdings (NASDAQ:ARM) rose over 4%.
News Corp (NASDAQ:NWSA) stock jumped 2% after the news giant announced a content sharing arrangement with OpenAI, providing the latter access to content from several of its major publications.
Medtronic (NYSE:MDT) stock increased 1% after the medical device maker topped predictions for quarterly profit, supported by a post-pandemic pickup in surgical numbers at hospitals that bolstered demand for its medical products.
Losers
Live Nation Entertainment (NYSE:LYV) stock slumped 6.8% on a report that the Department of Justice was planning a lawsuit against the firm over allegedly monopolistic tactics by its Ticketmaster unit, and that lawmakers were also pursuing a separation of Ticketmaster from the firm.
Stocks In Focus
Before the bell, e.l.f. Beauty (ELF) stock had recovered from Wednesday’s prolonged trade and was up more than 6%. The beauty and cosmetics maker’s FQ4 2024 revenue rose 71% Y/Y, while its gross margin rose 180 basis points due to pricing hikes. The unfavorable reaction to the announcement after hours on Wednesday was likely related to e.l.f. Beauty’s (ELF) fiscal 2025 revenue estimate below expectations. Bear in mind that the company provides conservative counsel. ELF CEO Tarang Amin said the company gained 325 basis points in market share in the quarter.
Medtronic (MDT) shares fell roughly 1% after giving up pre-market gains. Medical equipment maker beat FQ4 2024 top and bottom line, raised quarterly dividend, and provided revenue growth projection in line with estimates. Organically, Medtronic’s Q4 global revenue of $8.59B up 5.4% Y/Y. Organic sales of its cardiovascular portfolio, its greatest revenue generator, jumped 4%, while its diabetes portfolio grew 11.1%. Charts show MDT performance.
Ralph Lauren (RL) stock fell roughly 1.5% before market open after the legendary garment brand announced fiscal 2025 revenue growth guidance below consensus. Ralph Lauren (RL) forecasts constant currency fiscal 2025 revenue to rise 2% to 3% from last year. That was below the 3.89% growth forecast. In FQ4 2024, Ralph Lauren (RL) claimed a 6% growth in comparable sales and increased its adjusted operating profit by closing North American department shops. The company also hired Justin Picicci as finance head.
U.S.-listed Bilibili (BILI) shares fell over 2.5% before the bell. Q1 revenue and average daily active users were strong for the Chinese video sharing site. More than six years after its Nasdaq debut, Bilibili (BILI) is still seeking profitability. In Q1, adjusted net loss fell 56% to RMB 455.9M ($62.9M). Our advertising business grew 31% year-over-year in the first quarter, which is encouraging. We want to improve our commercialization and reach profitability “BILI CEO Rui Chen said.
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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.