SUPERNEWS

Equities

Mixed Pre-Jobs Report Market Tone: Broadcom Impresses, MongoDB Drops, and Samsara Surges

Stocks fluctuate ahead of jobs report, with Broadcom and Rivian gaining, while MongoDB and BigBear.ai face declines.

By Alex P. Chase

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3/8, 04:43 EST
Broadcom Inc.
Costco Wholesale Corporation
DocuSign, Inc.
Samsara Inc.
MongoDB, Inc.
Marvell Technology, Inc.
Rivian Automotive, Inc.

Key Takeaway

  • Broadcom's fiscal Q1 revenue and earnings impress, while Rivian gains 2.9% on new SUV announcements; Costco and Marvell also in focus.
  • MongoDB drops 9.5% due to weak guidance; Samsara surges 14% with strong Q4 results and optimistic outlook.
  • Gap exceeds earnings expectations with a 4.5% rise, but BigBear.ai falls 19% on revenue miss, setting a mixed pre-jobs report market tone.

Market Movements Ahead of Jobs Report

Stock futures indicated a slight uptick in early trading on Friday, setting the stage for market activity ahead of the anticipated U.S. jobs report for February. This follows a day where the S&P 500 experienced notable movements, reflecting investors' cautious optimism and their focus on upcoming economic indicators.

Key Stock Performances

Several companies were in the spotlight due to their recent announcements and financial results, impacting their stock prices in pre-market trading:

  • Broadcom reported fiscal first-quarter revenue and adjusted earnings that caught the market's attention, although specific figures were not disclosed in the pre-market update.
  • Rivian Automotive saw a 2.9% increase in its stock price after announcing two new, lower-priced SUV models, the R2 and R3, with the R2 set to start at around $45,000 and expected to ship in the first half of 2026.
  • Costco Wholesale and Marvell Technology were also mentioned as stocks to watch, though details on their pre-market movements were not provided.
  • MongoDB experienced a 9.5% decline in its stock price following the release of disappointing guidance for its fiscal first quarter and year, with expected revenue between $436 million and $440 million and adjusted profits of 34 to 39 cents per share, below Wall Street's expectations.
  • DocuSign and Samsara were highlighted for their recent financial performances, with Samsara's shares rising 14% after surpassing fourth-quarter adjusted earnings expectations and providing optimistic fiscal 2025 guidance.
  • Gap reported fourth-quarter earnings of 49 cents per share, exceeding the consensus estimate of 23 cents, and announced that sales for the current fiscal year would be flat, aligning with market expectations. The stock rose 4.5%.
  • BigBear.ai saw its stock fall 19% after reporting fourth-quarter revenue of $40.6 million, a marginal increase from the previous year but below analysts' expectations of $42.8 million.

Management Quotes

  • Rivian Automotive:

    "Rivian announced a midsize SUV called the R2, with a starting price of around $45,000, and said the car would ship in the first half of 2026. The company also surprised with the announcement of the R3, an even smaller and lower-priced SUV, and a variant of the vehicle with a sportier trim called the R3X."

  • MongoDB:

    "For the first quarter, MongoDB said it expects revenue of between $436 million and $440 million, with adjusted profit of 34 cents to 39 cents a share."

  • Samsara:

    "Samsara... posted better-than-anticipated fourth-quarter adjusted earnings and issued fiscal 2025 earnings and revenue guidance that topped Wall Street estimates."

  • Gap:

    "Gap said sales for the current fiscal year would be flat, roughly in line with expectations."