Sunday, June 16, 2024

Biggest stock movers today: GME, DOCU, MTN, and more

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Stock futures were trading lower on Friday after hotter-than-expected job data, dashing hopes of a Federal Reserve rate cut this year.

Here are some stocks of Friday’s biggest stock movers:

Biggest stock gainers

  • Braze (NASDAQ:BRZE) added 14% after reporting upbeat FQ1 results and outlook. The company sees FQ2 revenue between $140.5M and $141.5M, vs. $139.76M consensus, and non-GAAP net loss per share between $(0.03) and $(0.04), vs. -$0.04 consensus. For FY2025, revenue is anticipated to fall between $577.0 and $581.0, vs. $574.09M consensus, and non-GAAP net loss per share is between $(0.06) and $(0.10), vs. -$0.09 consensus.

Biggest stock losers

  • Shares of DocuSign (NASDAQ:DOCU) plunged 7%, even though the company reported better-than-expected Q1 results and outlook. The company sees Q2 revenue in the range of $725M to $729M vs. the consensus of $726.53M and billings in the range of $715M to $725M vs. the consensus of $720M. For FY2025, DocuSign projects revenue between $2.92B and $2.932B vs. the consensus of $2.92B, along with billings between $2.98B and $3.03B as compared to analysts’ estimates of $2.997B. The company also boosted its stock-buyback program by $1B.
  • Vail Resorts (NYSE:MTN) shares lost about 7% after missing the consensus mark in FQ3 results, with the lodging segment down 6.8% and Australia’s Epic Pass sales down 22%. Poor skiing conditions in North America and Australia impacted the results. However, ski conditions turned for the better in March and April, with visitation across Vail’s western North American resorts in particular benefiting from more traffic. The company believes the full-year pass unit and sales dollar trends will be relatively stable with the spring results. The company expects resort-reported EBITDA to be between $825M and $843M for the full year.
  • Biomea Fusion (NASDAQ:BMEA) shares plummeted 65% after the U.S. FDA placed a full clinical hold on phase 1/2 trials for BMF-219 for type 1 and type 2 diabetes. Additionally, Barclays downgraded the stock to equal weight from overweight and lowered its price target to $5 from $30 (~56% downside based on Thursday’s close). Analyst Peter Lawson said the downgrade is being done until there is resolution on the hold, which was caused by potential drug-induced liver toxicity.
  • GameStop (NYSE:GME) reversed course ahead of market open and lost about 15%, currently trading at $39.6 after a surprise downbeat Q1 results and a $75M share offering. Before the earnings report, GME was trading around $62, more than 30% higher. The stock had been in the limelight the whole week, rising more than 40% over the past 5 days, as influential trader Keith Gill, known online as Roaring Kitty, revealed a big bet in the company. Gill has also scheduled a YouTube livestream at noon on Friday.

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