Today’s Top Performers
In anticipation of the Producer Price Index (PPI) and retail sales figures, stock futures rose slightly Thursday morning.
Top stock gainers
Robinhood’s (NASDAQ:HOOD) shares rose over 11% after its February performance results. At the trading platform, assets under custody rose 16% from February 2023 and 59% from February 2023. Trading volumes increased 36%, 12%, and 10% over the previous month, with equities notional trading volumes reaching $80.9B, options contracts at $119.1M, and crypto at $6.5B. Equity daily average revenue trades jumped 12% to 1.9M, options DARTs rose 14% to 0.8M, and crypto DARTs were steady at 0.3M but rose 50% from a year earlier, demonstrating strong user engagement and platform development.
Dollar General’s (NYSE:DG) shares rose 6% after the business announced Q4 earnings that exceeded both management and market forecasts. For FY2024, the business expects sales growth of 6.0% to 6.7%, compared to a consensus growth forecast of 4%. The anticipated diluted EPS is likely to range between $6.80 and $7.55, which is consistent with the consensus of $7.50. Dollar General predicts a 1.5% to 2.0% growth in same-store sales in Q1, with diluted EPS in the $1.50 to $1.60 range, which is lower than the consensus of $1.88.
Top stock losses
Fisker (NYSE:FSR) shares fell 46% due to concerns of probable bankruptcy. The electric car maker’s Ocean SUV’s technical troubles and financial issues have raised concerns about its future. Fisker recently alerted investors about its financial woes. The corporation may have enlisted FTI Consulting and Davis Polk Law Firm to help them through these issues.
FUTU Holdings (NASDAQ:FUTU) shares fell 11% as Q4 results missed expectations. Non-GAAP adjusted net income fell 6.3% Y/Y. Quarterly trade volume fell 12.5% to HK$956.6B. DARTs dropped 22.2% Y/Y to 369,729 in the same period. DARTs fell 27.2% Y/Y to 428,745 in 2023.
Hello Group (NASDAQ:MOMO) shares fell 15% after mixed Q4 results reports. Tantan app monthly active users fell to 13.7M in December 2023 from 18.4M in 2022. The Momo app has 7.4M paid users in 4Q23, down from 7.8M last year. Tantan’s quarterly paid user base fell to 1.2M from 1.7M Y/Y. Hello Group expects 1Q24 net revenues of RMB2.45B to RMB2.55B, down 13.1% to 9.5% Y/Y.
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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.