CPB and MDB are both on the rise after their quarterly results
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.