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US Stocks Mostly Lower Thursday

March 15
05:04 2019

– By Omar Venerio

U.S. stocks were mostly lower Thursday on concerns regarding the U.S.-China trade deal, with a meeting between President Donald Trump and Chinese President Xi Jinping pushed back to April. The Dow Jones Industrial Average advanced 0.03% to 25,710, the S&P 500 Index fell 0.06% to 2,809 and the Nasdaq Composite Index slid 0.08% to 7,637.

Shares of MongoDB Inc. (MDB) jumped almost 27% after the company announced fourth-quarter results Thursday evening. Revenue grew 70.8% from the prior-year quarter to $ 85.5 million, beating expectations by $ 11.48 million. The company reported a loss of 17 cents per share, topping estimates by 21 cents.

  • Warning! GuruFocus has detected 5 Warning Sign with MDB. Click here to check it out.
  • MDB 15-Year Financial Data
  • The intrinsic value of MDB
  • Peter Lynch Chart of MDB

“MongoDB is being adopted by an ever increasing number of companies across diverse industries who recognize the power of our next-generation database platform to drive business performance, increase agility and shorten time to market,” President and CEO Dev Ittycheria said.

During the quarter, the gross profit was $ 59.9 million, representing a 70% gross margin, compared to 75% in the year-ago period. The non-GAAP gross profit was $ 61 million, representing a 71% non-GAAP gross margin.

For the full year, the gross profit was $ 193.4 million, representing a 72% gross margin, which was down from 74% the year prior. The non-GAAP gross profit was $ 196.7 million, representing a 74% non-GAAP gross margin.

Looking ahead to the first quarter, the company expects net revenue between $ 82 million and $ 84million. It also projects a diluted loss per share of 23 cents to 25 cents.

Gainers

  • General Electric Co. (GE)
  • Mylan NV (MYL)
  • Celgene Corp. (CELG)
  • Concho Resources Inc. (CXO)
  • Discovery Inc. (DISCA)

Losers

  • L Brands Inc. (LB)
  • Bristol-Myers Squibb Co. (BMY)
  • Western Digital Corp. (WDC)
  • Align Technology Inc. (ALGN)

Global markets

The main European stock markets traded higher. The U.K.’s FTSE 100 rose 0.37%, France’s CAC 40 gained 0.82%, Germany’s Dax swelled 0.13% and Spain’s IBEX 35 escalated 0.19%.

In Asia, Japan’s Nikkei 225 fell 0.02%, India’s BSE Sensex advanced 0.01%, Hong Kong’s Hang Seng gained 0.15% and China’s Shanghai Composite tumbled 1.20%.

Disclosure: The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.

  • Warning! GuruFocus has detected 5 Warning Sign with MDB. Click here to check it out.
  • MDB 15-Year Financial Data
  • The intrinsic value of MDB
  • Peter Lynch Chart of MDB

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