Today’s economic data announcements make stock futures rose slightly.
Top stock gainers
Stoke Therapeutics’ (STOK) shares rose 70% Today after good effects of STK-001 for Dravet syndrome, a hereditary cause of epilepsy in children and adolescents. The Phase 1/2a data showed an 85% median reduction in convulsive seizure frequency at three months and 74% at six months after the final dosage. Patients improved cognition and behavior. Stoke will propose a registrational trial with the FDA that begins with 70mg and then 45mg. The firm reported mixed Q4 performance.
Mesoblast Limited’s (MESO) shares rose 18% Today after the U.S. FDA said its Phase 3 study, MSB-GVHD001, had enough clinical evidence to support remestemcel-L’s BLA. It treats juvenile steroid-refractory acute graft versus host disease (SR-aGVHD). Mesoblast CEO Dr. Silviu Itescu thanked the FDA for its collaboration and said the advice gives them confidence to refile the BLA. Mesoblast expects to resubmit next quarter to resolve product characterization concerns.
Bitcoin (BTC-USD) rose beyond $70,000 in the final week of March, boosting MicroStrategy (MSTR) shares by almost 4% Today. Bitcoin, the leading cryptocurrency, climbed 5% to $70,550. Bitcoin fell from its all-time high of $73,797.68 on March 14 to $60,800 last Wednesday.
Top stock losses
Westport Fuel Systems (WPRT) shares fell 13% after reporting a larger-than-expected Q4 loss. However, revenue rose 12% to $87.2M, above analysts’ forecasts. The corporation was optimistic about the alternative fuels market, especially with hydrogen predicted to be affordable and accessible in 2024. CEO said, “We are starting to deploy a combination of levers to grow earnings and improve profitability, including implementing significant cost-cutting measures expected to encompass both operating and general and administrative expenses.”
GDS Holdings (GDS) shares fell 5% before Q4 earnings. Analysts predict a 113.3% drop in EPS to -$0.32 and a 2.5% growth in revenue to $357.33M. Over the previous two years, GDS has exceeded EPS predictions 88% and revenue estimates 63%.
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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.