US Stocks Mostly Lower Thursday

U.S. stocks were mostly lower Thursday on concerns regarding the U.S.-China trade deal, with a meeting between President Donald Trump and Chinese President Xi Jinping pushed back to April. The Dow Jones Industrial Average advanced 0.03% to 25,710, the S&P 500 Index fell 0.06% to 2,809 and the Nasdaq Composite Index slid 0.08% to 7,637.

Shares of MongoDB Inc. (NASDAQ:MDB) jumped almost 27% after the company announced fourth-quarter results Thursday evening. Revenue grew 70.8% from the prior-year quarter to $85.5 million, beating expectations by $11.48 million. The company reported a loss of 17 cents per share, topping estimates by 21 cents.

“MongoDB is being adopted by an ever increasing number of companies across diverse industries who recognize the power of our next-generation database platform to drive business performance, increase agility and shorten time to market,” President and CEO Dev Ittycheria said.

During the quarter, the gross profit was $59.9 million, representing a 70% gross margin, compared to 75% in the year-ago period. The non-GAAP gross profit was $61 million, representing a 71% non-GAAP gross margin.

For the full year, the gross profit was $193.4 million, representing a 72% gross margin, which was down from 74% the year prior. The non-GAAP gross profit was $196.7 million, representing a 74% non-GAAP gross margin.

Looking ahead to the first quarter, the company expects net revenue between $82 million and $84million. It also projects a diluted loss per share of 23 cents to 25 cents.

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Global markets

The main European stock markets traded higher. The U.K.’s FTSE 100 rose 0.37%, France’s CAC 40 gained 0.82%, Germany’s Dax swelled 0.13% and Spain’s IBEX 35 escalated 0.19%.

In Asia, Japan’s Nikkei 225 fell 0.02%, India’s BSE Sensex advanced 0.01%, Hong Kong’s Hang Seng gained 0.15% and China’s Shanghai Composite tumbled 1.20%.

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