da-kuk
Stock futures were slightly above the flatline in the early trading hours of Friday ahead of February’s jobs report.
Here are some of Friday’s biggest stock movers:
Biggest stock gainers
- The Gap (NYSE:GPS) stock jumped 4% following the company’s announcement of better-than-expected Q4 earnings. This was driven by strong comparable sales for its Old Navy and Gap brands, as well as significant improvements in margins and cash flow. Looking ahead to Q1, the company anticipates sales to remain steady compared to 1Q23 at $3.3B, almost in line with the consensus of $3.27B. Additionally, it expects gross margin to increase by 100 basis points from 37.2% in the same quarter last year.
- DocuSign’s (NASDAQ:DOCU) shares surged 10% following its upbeat 4Q24 results, indicating an 8% Y/Y increase in subscription revenue. The electronic signature company expects to generate $704M to $708M in 1Q25, exceeding analysts’ estimates of $699.1M. For the year, DocuSign anticipates revenue between $2.91B and $2.92B, in line with consensus expectations of $2.91B. The company also highlighted its achievement of StateRAMP Authorization, allowing customers to use products like Contract Lifecycle Management and eSignature in the StateRAMP-authorized environment.
Biggest stock losers
- Following strong Q4 earnings results, Marvell Technology (NASDAQ:MRVL) shares plummeted by over 7% due to a disappointing Q1 outlook. The company expects Q1 revenue to be around $1.15B, plus or minus 5%, significantly lower than analysts’ expectations of $1.36B. Marvell also anticipates adjusted gross margins to fall within the range of 62% to 63%, with adjusted earnings projected to be between $0.18 and $0.28 per share, well below the consensus estimate of $0.40. Additionally, Marvell announced a $3B stock buyback program.
- Costco Wholesale’s (NASDAQ:COST) stock fell nearly 4% subsequent to the company’s FQ2 earnings results, wherein it fell short of the top-line consensus expectation despite a 5.7% Y/Y increase. Additionally, comparable sales demonstrated a notable uptick, rising by +5.6% overall during the quarter, surpassing the +5.1% consensus.
- Despite exceeding Q4 profit and sales projections, MongoDB (NASDAQ:MDB) shares saw an 8% decline due to the database platform provider’s dovish FY2025 outlook. For Q1, MongoDB anticipates revenue in the range of $436M to $440M, below the consensus estimate of $449.08M. Non-GAAP EPS is projected to be between $0.34 and $0.39, significantly below the consensus of $0.61. For FY2024, the company expects revenue between $1.9B and $1.93B, falling short of the consensus estimate of $2.03B. Non-GAAP EPS is projected to be $2.27 to $2.49, much lower than the consensus of $3.22.