- Wall Street opens higher led by Russell 2000
- US100 retreats below 16,000 pts
- Fiscal-Q3 results from MongoDB, Yext, SentinelOne and Box
Wall Street indices launched today's trading higher as a weaker-than-expected ADP report on US employment added to arguments for Fed not raise rates anymore. S&P 500 traded 0.5% higher at the opening, Dow Jones added 0.4%, Nasdaq gained 0.6% and small-cap Russell 2000 jumped 1%.
Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appTaking a look at Nasdaq-100 futures (US100) chart at H1 interval, we can see that the index tested 15,940 pts support zone earlier today and strongly bounced off it following release of ADP data for November. Index has subsequently jumped above the psychological 16,000 pts handle, but the advance was halted at the 16,035 pts swing area, when the cash trading on Wall Street began. A key near-term support zone to watch in case pullback deepens are the aforementioned 15,940 pts area as well as the 15,865 pts area.
Company News
MongoDB (MDB.US) trades lower at the start of today's cash session, following release of fiscal-Q3 2024 earnings (calendar August-October 2023). Company reported 30% YoY jump in fiscal-Q3 revenue, to $432.9 million (exp. $403.7 million), as well as adjusted EPS of $0.96 (exp. $0.51). Cash position declined 52% YoY to $477.7 million. Company expects full-year revenue to reach $1.65-1.66 billion, up from previous guidance of $1.60-1.61 billion), as well as adjusted EPS at $2.89-2.91, up from previous guidance of $2.27-2.35.
Box (BOX.US) drops after release of fiscal-Q3 2024 earnings (calendar August-October 2023). Company reported 4.6% YoY increase in fiscal-Q3 revenue, to $261.5 million (exp. $262.1 million), as well as adjusted EPS at $0.36 (exp. $0.38). Billings came in at $253.7 million (exp. $257.9 million). Adjusted operating margin reached 24.7% in fiscal-Q3 (exp. $25.5%). Apart from slightly disappointing results, company also decided to cut its full-year outlook. Box still expects full-year revenue to reach $1.04 billion, but adjusted EPS is now seen at $1.42-1.43, down from previous forecast of $1.46-1.50.
MongoDB (MDB.US) is pulling back today in spite of a boost to full-year guidance. Stock tested the resistance zone ranging below $450 mark last week but failed to break above. In case declines deepen, a recently-broken $390 price zone may act as the first important support. Source: xStation5
Yext (YEXT.US) slumps today after reporting fiscal-Q3 2024 earnings (calendar August-October 2023). Company reported 1.9% YoY increase in fiscal-Q3 revenue, to $101.2 million (exp. $102 million), and an adjusted EPS of $0.09 (exp. $0.07). Gross margin for the period reached 78.2% and was in-line with market expectations. Yext issued a mixed new full-year guidance, with revenue forecast being lower and earnings forecast increasing. Company expects full-year revenue to reach $403.2-403.7 million ($405-407 million previously) and adjusted EPS of $0.31-0.32 ($0.29-0.30 previously).
SentinelOne (S.US) surges after reporting fiscal-Q3 2024 results (calendar August-October 2023). US cybersecurity company reported Q3 revenue at $164.2 million (exp. $156 million), adjusted gross margin at 79% (exp. 76%) and adjusted loss per share of $0.03 (exp. $0.08). SentinelOne expects fiscal-Q4 revenue to reach $169 million ($166.5 million), adjusted gross margin to reach 77.5% (exp. 76%) and adjusted operating margin to come in at -14% (exp. -19%).
Analysts' actions
- Toast (TOST.US) rated "neutral" at Redburn. Price target set at $17.45
- PayPal Holdings (PYPL.US) downgraded to "neutral" at Bank of America. Price target set at $66.00
- Capital One (COF.US) upgraded to "buy" at Bank of America. Price target set at $129.00
SentintelOne (S.US) surges today, on the back of solid fiscal-Q3 earnings report. Stock launched today's trading with a big bullish price gap and broke above the $21 resistance zone in the process. The next major resistance zone to watch can be found in the $29.00 area. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
