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HomeUncategorizedToday's Top Performers: Piedmont, Medical Properties, Alcoa Lead Stock Market Surge, Salesforce,...

Today’s Top Performers: Piedmont, Medical Properties, Alcoa Lead Stock Market Surge, Salesforce, Tesla Join the Rally.

Today’s Premarket shows Despite Middle East tensions, stock futures and Treasury rates rose.

Top stock gainers


Piedmont Lithium (PLL) shares rose 23% after the North Carolina Department of Environmental Quality’s Division of Energy, Mineral, and Land Resources awarded a mining permit for the Carolina Lithium project in Gaston County after more than two and a half years. The business wants Carolina Lithium to be the world’s most cost-effective and environmentally friendly lithium hydroxide facility. PLL shares are up 29.27% to 26.5 cents.


Medical Properties Trust (MPW) shares rose 17% after selling its controlling stake in five Utah hospitals. Medical Properties Trust kept 25% while a joint venture with an investment firm bought 75% for $886M. The joint venture also gave the REIT $190M in cash in non-recourse secured financing. Deal proceeds would decrease debt and be utilized for company reasons.


Alcoa (AA) shares climbed over 5% after the U.S. and U.K. restricted Russian aluminum, copper, and nickel trade. These regulations attempt to hinder Vladimir Putin’s military funding. London Metal Exchange and Chicago Mercantile Exchange cannot take Russian aluminum, copper, and nickel shipments due to rules. The US also bans Russian imports of all three metals. Russian metal stocks on the LME and Comex can be exchanged and withdrawn to reduce market risk.

Top stock losses

Neumora Therapeutics‘ shares fell 14% after the FDA halted the trial of its schizophrenia therapy, NMRA-266. The Phase 1 trial, initiated last year, showed no convulsions in rabbits. Neumora is working with the FDA to resolve the clinical hold.

Premarket

Gainers

Piedmont Lithium (NASDAQ:PLL) ADRs soared over 20% after the miner announced that it had acquired a long-delayed permission from North Carolina regulators to begin construction of its lithium mine.

Goldman Sachs (NYSE:GS) shares jumped 3.9% after the banking behemoth announced a 28% increase in first-quarter earnings, bolstered by a rebound in debt underwriting and dealmaking, which benefited its investment banking division.

Meta Platforms (NASDAQ:META) shares increased 1.1% despite the tech giant’s announcement that it will temporarily shut down its social networking platform Threads in Turkey on April 29 to comply with an interim decision from the Turkish antitrust regulator.

Reddit (NYSE:RDDT) stock rose 0.4%, with JPMorgan and Morgan Stanley initiating coverage with “hold” ratings as they await clarity on the social media company’s user growth, while remaining bullish on ad revenue growth and AI initiatives.

Losers

Salesforce (NYSE:CRM) shares dropped 2.8% after Reuters reported that the customer relations software manufacturer was in advanced discussions to purchase Informatica (NYSE:INFA), which slumped 1.4%.

Tesla (NASDAQ:TSLA) shares dipped 1.3% on speculation that the EV manufacturer is ready to announce large-scale layoffs as sales decline.

Apple (NASDAQ:AAPL) shares dipped 0.7% after research company IDC said that the iPhone manufacturer has lost its position as the world’s top phone producer, with Samsung (KS:005930) reclaiming it following Apple’s bad first quarter.

Must read book about investing – check here Today’s Top Performers Today’s Top Performers Today’s Top Performers Today’s Top Performers

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.

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