Today, Stock futures rose in pre-market, continuing last week’s record highs spurred by AI euphoria.
Top stock gainers
RXO (NYSE:RXO) shares rose 15% after acquiring Coyote Logistics from UPS (UPS) for $1.025B, becoming North America’s third-largest brokered transportation company. RXO’s market position, client base, and carrier network will improve with this acquisition. RXO (RXO) expects quick and long-term revenue and profitability growth and big shareholder returns from the transaction. The deal should close by year’s end.
After announcing a $2B stock buyback by mid-2026, Prudential plc (NYSE:PUK) shares surged about 6%. Anil Wadhwani, the company’s CEO, said financial goals will improve shareholder cash returns. Despite its current dividend policy, the board expects 7%–9% dividend growth in 2024. The London Stock Exchange or other venues will repurchase and cancel shares.
Top stock losses
ResMed (NYSE:RMD), the market leader for CPAP (continuous positive airway pressure) machines, crashed more than 10% after Eli Lilly announced an FDA decision on a label expansion for tirzepatide, its weight loss therapy for OSA. Tirzepatide met its Phase 3 SURMOUNT-OSA targets with or without PAP treatment, coinciding with the announcement. The Indiana pharma has filed FDA label expansions for OSA and obesity.
Premarket
Gainers
After a week-long selloff, Trump Media & Technology (NASDAQ:DJT) stock climbed 6.3%.
Zepbound, a weight-loss medicine, corrected sleep apnea in up to 52% of patents, lifting Eli Lilly (NYSE:LLY) shares 1%.
Broadcom (NASDAQ:AVGO) shares climbed 0.6% after Reuters reported that the chipmaker is working with ByteDance to develop an advanced artificial intelligence processor, even as the U.S. restricts chip exports to its biggest economic foe.
Apple (NASDAQ:AAPL) stock climbed 0.3% Monday after the European Commission said the iPhone maker’s software Store policies violate EU tech rules by preventing software developers from directing consumers to other offers.
UPS stock increased 0.2% after the world’s largest package delivery company announced it would sell its Coyote Logistics business unit to RXO (NYSE:RXO), up 14%, for $1.025 billion.
Losers
ResMed (NYSE:RMD) stock plunged 12% over the weekend after a weight-loss medicine study raised concerns about its major market.
After agreeing to pay $434 million to settle a 2017 class action lawsuit alleging shareholder defrauding, Under Armour (NYSE:UA) stock slumped 2.3%.
Nvidia (NASDAQ:NVDA) stock dipped 1.8% after dropping late last week after temporarily being the world’s most valuable corporation.
Stock in Focus
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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.