While Federal Reserve policy remained the major conversation on Wall Street during Wednesday's intraday action, earnings news provided a key catalyst for individual stocks. This included MongoDB ( NASDAQ: MDB ), which posted a double-digit percentage gain following its quarterly report.
Meanwhile, Campbell Soup ( CPB ) and Mobileye ( MBLY ) surged as well, both also bolstered by their respective financial figures. On the other side of the spectrum, Ollie’s Bargain Outlet ( OLLI ) slumped after issuing disappointing results and a weak forecast.
Gainers
Better-than-expected results sparked gains in MongoDB ( MDB ). Shares of the database program provider rose 17% after the company reported a non-GAAP profit for Q3. Analysts were looking for the firm to announce a loss.
MDB also reported revenue of nearly $334M, a 47% advance from last year. Looking ahead, the company predicted a top-line figure of $334M to $337M, compared to a consensus estimate of $315M. Baird said MDB's Street-beating results and guidance should create a short squeeze.
Campbell Soup ( CPB ) also experienced buying interest in the wake of its quarterly report , with shares rising 4%. The packaged food maker exceeded estimates with its Q1 results, helped by price increases and productivity improvements. CPB also raised its forecast.
Elsewhere, Mobileye ( MBLY ) rose more than 6% in intraday action, boosted by Street-topping results . The company reported a narrower-than-expected loss for Q3, with revenue that rose 38% from last year.
Decliner
The release of a quarterly update prompted selling in Ollie’s Bargain Outlet ( OLLI ), with shares dropping by 12%. For Q3, the low-price retailer missed expectations on both its top and bottom lines.
At the same time, the company also cut its full-year guidance. OLLI lowered its net sales forecast to $1.82B to $1.83B, down from its previous target of $1.84B to $1.86B.
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Hot Stocks: MDB, CPB, MBLY rally on earnings news; OLLI drops