MarketCatalystMDB fell as much as 9.9% to about $330 on Friday after filings showed directors Dwight Merriman and Archana Agrawal sold shares under pre-arranged plans. The sales are small, so the bigger overhang is the abrupt September CEO exit, even as MongoDB's business keeps growing about 30% a year.
Adjusted EPS of $1.82 crushed the $1.54 consensus as Pinjarra recovered and the Alumar smelter restart finished, though revenue of $3.70 billion missed and adjusted EBITDA fell 12.4% from the second quarter. Tighter alumina markets and a $3.1 billion AliGroup deal frame the outlook, with about $60 million of Q4 cost headwinds ahead.
The S&P 500 is down 0.62% with technology off 1.67% and communication services off 1.54%, yet about 55% of its stocks are advancing. Investors are rotating out of crowded AI trades as borrowing costs rise and doubts grow about the sustainability of AI spending. Here is what moved at midday on Oct. 16.
Revenue of $3.68 billion topped forecasts and diluted EPS of $1.82 edged past the $1.81 consensus, but operating margin fell to 6.7% from 7.9% as driver, fuel and claims costs rose. Management is leaning on a larger 2027 intermodal bid season to repair margins.
CrowdStrike and Palo Alto Networks closed Wednesday more than 13% below their Oct. 6 records as CIBR lost 5.9% on the week. Hot CPI, AI-financing jitters, a report that OpenAI is eyeing security firm Trail of Bits and stretched valuations all hit at once, even as Citi raised targets.
The index is within 1% of its record close, yet fewer than a quarter of its members trade above their 50-day average. Earnings are growing at the fastest pace since 2021 while the forward multiple has slipped to about 19x. Here is what the split is telling us.