2 Stocks Staging Post-Earnings Pops

Campbell Soup and MongoDB both reported better-than-expected quarterly results

Deputy Editor
Dec 7, 2022 at 10:42 AM
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As quarterly results continue to roll in, two stocks are in the spotlight today. Both Campbell Soup Company (NYSE:CPB) and MongoDB Inc (NASDAQ:MDB) are staging substantial post-earnings bounces, even as recession fears continue to weigh on the market. 

Campbell Soup Stock Heating Up

Campbell Soup reported fiscal first-quarter earnings of $1.02 per share on revenue of $2.58 billion, which is higher than analysts' estimated 88 cents per share on $2.45 billion. Plus, the food manufacturer raised its full-year forecast on strong demand for pricier items. At last glance, CPB was up 4% at $55.12, and was earlier as high as $55.55 -- its highest levels since March of 2020. Today's pop also has the stock breaking above the $54 level, which has provided a consistent layer of pressure since the start of the pandemic. 

Analysts Blast MongoDB After Earnings

The shares of MongoDB stock are up a whopping 17.7% to trade at $169.60 at last check, after the software company reported third-quarter earnings of 23 cents per share, well above estimates of a 17 cent loss, alongside a revenue beat. Plenty of analysts chimed in with price-target adjustments after the event, with no fewer than six firms lowering their price objective, while no fewer than five hiked theirs. On the charts, MDB is still down 67.8% year-to-date, though today's pop has the equity jumping above pressure at its 40-day moving average. 

 

 

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