Latest news with #MongoDB
Globe and Mail
7 hours ago
- Business
- Globe and Mail
Stocks Muted Before the Open With U.S. Economic Data in Focus, ECB Decision Eyed
June S&P 500 E-Mini futures (ESM25) are up +0.02%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.10% this morning, pointing to a muted open on Wall Street, while investors await a fresh batch of U.S. economic data, remarks from Federal Reserve officials, and an earnings report from semiconductor and software giant Broadcom. Some positive corporate news is supporting stock index futures, with MongoDB (MDB) surging over +14% in pre-market trading after the database company posted upbeat Q1 results, raised its full-year guidance, and boosted its share buyback program. Also, Five Below (FIVE) climbed more than +5% in pre-market trading after the specialty discount retailer reported forecast-beating Q1 results and issued solid Q2 guidance. Lower bond yields today are also supporting stock index futures. However, gains in U.S. equity futures are limited amid investor caution ahead of Friday's payrolls data. Also, trade uncertainty persists as the Trump administration's deadline for countries to submit their 'best offers' for trade deals has passed without any notable developments. In yesterday's trading session, Wall Street's major indexes ended mixed. ON Semiconductor (ON) climbed over +6% and was the top percentage gainer on the S&P 500, extending Tuesday's gains after the semiconductor firm's CEO Hassan El-Khoury said he sees early signs of a broad-based recovery in demand. Also, homebuilder stocks advanced after the benchmark 10-year T-note yield slumped, with DR Horton (DHI) rising more than +4% and Lennar (LEN) gaining over +3%. In addition, Guidewire Software (GWRE) surged over +16% after the insurance-software provider posted upbeat FQ3 results and raised its full-year revenue guidance. On the bearish side, Dollar Tree (DLTR) slid more than -8% and was the top percentage loser on the S&P 500 after the discount retailer warned that new U.S. tariffs could slash its Q2 profit by 45% to 50%. The ADP National Employment report released on Wednesday showed that U.S. private nonfarm payrolls rose by 37K in May, weaker than expectations of 111K and the smallest increase in more than two years. Also, the U.S. ISM services index unexpectedly fell to 49.9 in May, weaker than expectations of 52.0. 'Markets are likely to view this through the lens of disappointment on the real growth side,' said Florian Ielpo at Lombard Odier Investment Managers. Meanwhile, the Federal Reserve said Wednesday in its Beige Book survey of regional business contacts that U.S. economic activity declined slightly in recent weeks, signaling that tariffs and heightened uncertainty are hurting the economy. 'All districts reported elevated levels of economic and policy uncertainty, which have led to hesitancy and a cautious approach to business and household decisions,' according to the Beige Book. The report stated that consumer spending either declined slightly or showed no change across most districts, while prices rose at a 'moderate' pace. Most regions described employment as 'flat,' while wages continued to grow at a 'modest' pace. The report said the outlook remained 'slightly pessimistic and uncertain, on balance.' U.S. rate futures have priced in a 95.6% probability of no rate change and a 4.4% chance of a 25 basis point rate cut at June's monetary policy meeting. Today, investors will monitor earnings reports from several high-profile companies, with Broadcom (AVGO), Lululemon Athletica (LULU), and Samsara (IOT) slated to release their quarterly results. On the economic data front, investors will focus on U.S. Initial Jobless Claims data, which is set to be released in a couple of hours. Economists expect this figure to be 236K, compared to last week's number of 240K. U.S. Unit Labor Costs and Nonfarm Productivity data will also be closely watched today. Economists forecast Q1 Unit Labor Costs to be +5.7% q/q and Nonfarm Productivity to be -0.8% q/q, compared to the fourth-quarter numbers of +2.0% q/q and +1.7% q/q, respectively. U.S. Trade Balance data will be released today as well. Economists expect the trade deficit to narrow to -$67.60B in April from -$140.50B in March. In addition, market participants will parse comments today from Fed Governor Adriana Kugler, Kansas City Fed President Jeff Schmid, and Philadelphia Fed President Patrick Harker. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.318%, down -1.01%. The Euro Stoxx 50 Index is up +0.35% this morning, extending gains from the prior session following Germany's approval of a tax relief package, while investor attention turns to the European Central Bank's monetary policy decision. Construction and technology stocks outperformed on Thursday. At the same time, travel stocks lost ground. Data from the Federal Statistics Office released on Thursday showed that Germany's factory orders unexpectedly rose in April, defying concerns that U.S. President Trump's escalating tariffs would dent demand for German goods. Separately, data from Eurostat showed that the Eurozone's monthly industrial producer prices fell more than expected in April, marking the sharpest drop since April 2023. Meanwhile, investors are awaiting the ECB's interest rate decision later in the session, with the central bank widely expected to lower the deposit rate by another 25 basis points to 2.00% amid ongoing easing in Eurozone inflation. That would mark the eighth interest rate cut in an easing cycle that may be approaching its end. Investors will likely focus on signals about future moves and on projections that President Christine Lagarde will present. On the trade front, uncertainty persisted as the Trump administration's deadline for countries to submit their 'best offers' for trade deals passed without any notable developments. In corporate news, Wizz Air Holdings Plc ( plummeted over -26% after the budget carrier posted weaker-than-expected annual operating profit. Germany's Factory Orders and Eurozone's PPI data were released today. The German April Factory Orders arrived at +0.6% m/m, stronger than expectations of -1.5% m/m. Eurozone's April PPI has been reported at -2.2% m/m and +0.7% y/y, weaker than expectations of -1.8% m/m and +1.2% y/y. Asian stock markets today settled mixed. China's Shanghai Composite Index (SHCOMP) closed up +0.23%, and Japan's Nikkei 225 Stock Index (NIK) closed down -0.51%. China's Shanghai Composite Index ended slightly higher today after a private gauge of the nation's services sector helped ease concerns that the economic recovery has stalled. Technology stocks led the gains on Thursday. Rare earth stocks also climbed after a group representing U.S. auto suppliers urged immediate action to address China's restricted exports of rare earths, minerals, and magnets. A private sector survey released on Thursday showed that China's services activity expanded at a faster pace in May, with new orders rising more rapidly than in April, though new export orders fell amid uncertainty related to U.S. tariffs. Still, the benchmark index's gains were limited amid elevated uncertainty surrounding U.S.-China trade relations. U.S. President Donald Trump said on Wednesday that Chinese President Xi Jinping was tough and 'extremely hard to make a deal with,' casting doubt on the prospects for a lasting trade agreement. The focus is now on whether authorities can boost consumption quickly enough to offset the slowdown in external demand. Garrett Melson, a portfolio strategist at Natixis Investment Managers, said, '[While] policy easing continues and trade risks cloud the outlook, the central government has considerable headroom for monetary and fiscal policy easing to support growth.' In other news, Bloomberg reported that Chinese officials summoned senior executives of electric vehicle manufacturers, including BYD, Geely, and Xiaomi, earlier this week to address concerns over the ongoing price war. In corporate news, Beijing Wantai Biological Pharmacy Enterprise jumped +10% after the vaccine maker announced it received approval for its marketing authorization application for its Nine-valent HPV vaccine. The Chinese May Caixin Services PMI came in at 51.1, stronger than expectations of 51.0. Japan's Nikkei 225 Stock Index closed lower today after demand at a 30-year government bond auction was weaker than average. A stronger yen also weighed on investors' risk appetite. Automobile and shipping stocks led the declines on Thursday. Limiting losses, chip stocks advanced, tracking overnight gains in their U.S. peers. Japan's 30-year government bond auction drew the weakest demand since 2023, increasing pressure on the government to adjust the issuance of bonds with super-long maturities. Meanwhile, Reuters reported on Thursday that the Bank of Japan is weighing slowing the pace of tapering in its bond purchases starting next fiscal year, in a move that would underscore its aim to prevent major disruptions in the bond market. On the economic front, government data released on Thursday showed that Japanese real wages declined for a fourth straight month in April, weighed down by persistent inflation that has continued to outpace pay increases delivered by companies so far. Inflation-adjusted real wages, a key gauge of households' purchasing power, declined 1.8% in April from a year earlier, following a revised 1.8% slump in March. Moody's Analytics economist Stefan Angrick said that Japan's regular pay growth is expected to slow in the coming months as higher tariffs impact production and shipments, potentially adding further pressure on real wages. In other news, the Nikkei business daily reported that Japan is preparing to propose enhancing cooperation with the U.S. on rare earth supply chains during the upcoming tariff negotiations. In corporate news, Suzuki Motor dropped over -3% after the Nikkei reported that the automaker suspended production of its Swift model due to China's rare earth export restrictions. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed up +0.51% to 23.52. Pre-Market U.S. Stock Movers MongoDB (MDB) surged over +14% in pre-market trading after the database company posted upbeat Q1 results, raised its full-year guidance, and boosted its share buyback program. Five Below (FIVE) climbed more than +5% in pre-market trading after the specialty discount retailer reported forecast-beating Q1 results and issued solid Q2 guidance. Broadcom (AVGO) rose over +1% in pre-market trading after Erste Group upgraded the stock to Buy from Hold. PVH Corp. (PVH) slumped more than -8% in pre-market trading after the owner of the Calvin Klein and Tommy Hilfiger brands cut its full-year profit guidance. It said its outlook reflects 'an estimated net negative impact related to the tariffs currently in place for goods coming into the U.S.' Chewy (CHWY) fell over -2% in pre-market trading after Jefferies downgraded the stock to Hold from Buy with a price target of $43. Today's U.S. Earnings Spotlight: Thursday - June 5th Broadcom (AVGO), Lululemon Athletica (LULU), Samsara (IOT), Rubrik (RBRK), DocuSign (DOCU), Brown Forman (BFb), Ciena Corp (CIEN), Toro (TTC), Vail Resorts (MTN), Braze (BRZE), IDT (IDT), Cracker Barrel Old (CBRL), Hello Group (MOMO), Petco Health and Wellness (WOOF), Quanex Building Products (NX), Mission Produce (AVO), Guess (GES), Torrid Holdings (CURV), Concrete Pumping A (BBCP), Lands' End (LE), Zumiez (ZUMZ), Duluth Holdings (DLTH), AstroNova (ALOT).
Yahoo
15 hours ago
- Business
- Yahoo
MongoDB (MDB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
MongoDB (MDB) reported $549.01 million in revenue for the quarter ended April 2025, representing a year-over-year increase of 21.9%. EPS of $1.00 for the same period compares to $0.51 a year ago. The reported revenue represents a surprise of +4.23% over the Zacks Consensus Estimate of $526.72 million. With the consensus EPS estimate being $0.65, the EPS surprise was +53.85%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how MongoDB performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: MongoDB Atlas customers: 55,800 compared to the 52,188 average estimate based on four analysts. Total Customers: 57,100 compared to the 53,713 average estimate based on two analysts. Revenue- Services: $17.56 million versus the nine-analyst average estimate of $16.39 million. The reported number represents a year-over-year change of +28.5%. Revenue- Subscription: $531.46 million versus $510.06 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +21.6% change. Revenue- Subscription - MongoDB Atlas-related: $395.89 million versus $389.61 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +26.1% change. Revenue- Subscription - Other subscription: $135.56 million versus the three-analyst average estimate of $120.29 million. The reported number represents a year-over-year change of +10.2%. View all Key Company Metrics for MongoDB here>>>Shares of MongoDB have returned +14.6% over the past month versus the Zacks S&P 500 composite's +5.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MongoDB, Inc. (MDB) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
CNBC
19 hours ago
- Business
- CNBC
Enterprise slowly adopting AI, in future it will want custom solutions, says MongoDB CEO
Dev Ittycheria, MongoDB CEO, joins 'Closing Bell Overtime' to talk quarterly results, AI adoption, full year guidance and more.
Yahoo
19 hours ago
- Business
- Yahoo
MongoDB Stock Rallies as Analysts Raise Price Targets on Strong Quarterly Results
Several Wall Street analysts raised their price targets for MongoDB's stock after the company posted strong quarter results and raised its outlook. The company's Atlas multi-cloud database subscription offering saw its highest total net customer additions in six years. Analysts said that growth runs counter to the recent bearish narrative around the of AI-powered software provider MongoDB (MDB) surged Thursday as the company's strong quarterly results and improved outlook drew price target hikes from analysts. The company's Atlas multi-cloud database subscription offering saw its highest total net customer additions in six years, which Morgan Stanley analysts said 'flies in the face of the bear case narrative that MongoDB is losing [market] share.' The bank lifted its target to $255 from $235. MongoDB shares added nearly 13% Thursday to close at $225.38, with Morgan Stanley's target suggesting the stock could stand to climb another 13%. Still, the stock has lost about 3% year-to-date, after plunging in March on disappointing results a quarter ago. Citi analysts were even more bullish following the results, raising their target to $395 from $330. The bank called MongoDB's results a 'convincing rebuke to the ongoing narrative of increasing competition and diminishing developer mindshare.' Meanwhile, UBS analysts raised their target to $240 from $213. MongoDB reported first-quarter revenue of $549 million, up 22% year-over-year, which CEO Dev Ittycheria attributed to enterprise clients choosing its software to modernize existing AI applications and build new ones. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
20 hours ago
- Business
- Yahoo
MongoDB Stock Jumps 13% On Strong Q1 Results; 'Finding AI Mojo'
MongoDB stock jumped in Thursday trading after the database software company reported stronger-than-expected quarterly results. MongoDB's results showed the slumping stock is "finding its AI mojo," Wedbush analyst Dan Ives wrote in a client note. Revenue for the New York-based company increased 22% year-over-year to $549 million for its April-ended quarter, MongoDB said in a news release late Wednesday.
