NEW YORK, March 15, 2019 /PRNewswire/ –U.S. markets experienced a strong week, despite the fatal accident of Boeing’s (NYSE: BA) 737 MAX flight on Sunday. A 737-flight operated by Ethiopian Airlines crashed, coming just months after another 737 accident in Indonesia. While markets opened weaker on Monday morning following the incident, stocks rebounded quickly, primarily led by a major tech stock rally. The Dow Jones rallied by 368.7 points or 1.4% throughout Monday. However, markets dragged lower on Tuesday following Boeing’s slump. Boeing shares continued to fall throughout the week, as the stock price had shed 11.4% leading into Thursday morning. Concerns over Boeing’s aircraft safety and infrastructure afflicted many, which caused a string of countries to ground and temporarily ban 737 flights. Countries such as Australia, Canada, China, France, the U.K., and the U.S. have already taken action against the aircraft. Overall, the mixed market reaction can be attributed to the U.S.-China trade deal being stalled, weaker industrial output data in China, the grounding of Boeing 737s, and the Brexit votes in the U.K. The Dow Jones Industrial Average gained 482.41 points or 1.9% from Monday’s opening bell into midday Thursday. The S&P 500 gained 89.7 points or 3.2% in the same period, while the Nasdaq Composite rose by 304.1 points or 4.1%. Stitch Fix, Inc. (NASDAQ: SFIX), Cloudera, Inc. (NYSE: CLDR), MongoDB, Inc. (NASDAQ: MDB), Domo, Inc. (NASDAQ: DOMO), Adobe Inc. (NASDAQ: ADBE)

“After a few quiet days outside of Boeing and Brexit to kick off the week, the flow of news is a bit more active this morning [Thursday],” wrote Paul Hickey of Bespoke Investment Group, in a Thursday note to clients, via MarketWatch. “Positive sentiment in equity futures has quickly worn off this morning as headlines indicate that the U.S. and China have put off a planned meeting between President Trump and President Xi later this month,” he added. “The meeting now won’t occur until April at least. Sticking points like the treatment of intellectual property remain unresolved. The delay shouldn’t be entirely surprising given the president’s comments just yesterday that he was in no rush to sign a deal.”

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Stitch Fix, Inc. (NASDAQ: SFIX) reported its second quarter financial results after market close on Monday and beat earnings estimates, sending shares surging as high as 30% on Tuesday morning. For the quarter, Stitch Fix reported earnings of USD 12 cents per share on revenue of USD 370 Million while analysts expected earnings of USD 5 cents per share on revenue of USD 365 Million. Stitch Fix also provided a higher-than-expected third-quarter and full-year guidance. The Company expects revenues between USD 388 Million and USD 398 Million, while analysts projected USD 384 Million for the third quarter. As for the full-year, Stitch Fix reported a full-year revenue guidance between USD 1.53 Billion and USD 1.56 Billion, higher than estimates of USD 1.51 Billion.

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Cloudera, Inc. (NYSE: CLDR) shares plunged by 15% on Thursday morning after providing a disappointing forecast in its fourth quarter financial results release. Cloudera reported its fourth-quarter results during Wednesday’s extended trading hours. Cloudera, which closed its acquisition of its rival Hortonworks in January, reported fourth-quarter earnings loss of USD 45 cents per share on revenue of USD 144.5 Million. Analysts had expected an adjusted loss of 11 cents per share on revenue of USD 121 Million. Cloudera also forecast that the earnings loss will continue to be a problem going into the next quarter, as the Company forecasts a loss of USD 32 cents to USD 36 cents per share, on revenue in the range of USD 835 Million to USD 855 Million. Analysts are, meanwhile, expecting an earnings loss of USD 26 cents per share.

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MongoDB, Inc. (NASDAQ: MDB) stock price soared by over 25% on Thursday after crushing its fourth-quarter earnings result. For the quarter, MongoDB reported an earnings loss of USD 17 cents per share on revenue of USD 85.5 Million, whereas analysts had expected earnings loss of USD 38 cents per share on revenue of USD 74 Million. MongoDB’s stronger quarter was driven by the number of companies adopting its database platform to drive their business performances. The Company reported that its subscription revenue increased by 73% to USD 80.6 Million for the quarter while services revenue grew by 37% year-over-year to USD 4.9 Million.

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Domo, Inc. (NASDAQ: DOMO) reported its fourth quarter financial results after market close on Wednesday and surpassed its estimates, sending shares 26.8% higher at the opening on Thursday. For the quarter, Domo reported an earnings loss of USD 94 cents per share on revenue of USD 39.4 Million. Analysts’ forecast had pointed to an earnings loss of USD 1.24 per share on revenue of USD 37.76 Million. For the next quarter, Domo forecast its net loss per share to be in the range of USD 1.26 to USD 1.30, on revenue expectations between USD 40.0 Million to USD 41.0 Million.

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Adobe Inc. (NASDAQ: ADBE) reported its first quarter financial results after market close on Thursday. Adobe beat both earnings and revenue estimates for the quarter. For the fourth quarter, Adobe reported earnings of USD 1.71 per share on record quarterly revenue of USD 2.6 Billion. Analysts had only expected earnings of USD 1.62 per share on revenues of USD 2.59 Billion. For the second quarter, Adobe expects earnings of USD 1.77 per share on revenue of USD 2.7 Billion, primarily led by the growth in its digital media and digital experience segments.

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