MongoDB

Nvidia's board authorized an additional $150B for its existing share-repurchase program, bringing the remaining authorization to $235B, which the company said was the largest increase to a share-repurchase authorization in history. Micron Technology reported fiscal fourth-quarter results and guidance that topped Wall Street's expectations by a wide margin, earning an adjusted $33.42 per share as revenue soared 379.1% year-over-year to $54.23B, versus analyst expectations of $31.72 per share on $51.49B in revenue. Accenture shares rose after its Q4 beat expectations and it forecast upbeat fiscal 2027 revenue growth, reporting GAAP earnings of $3.29 per share, revenue up 6.3% year over year to $18.7B, and new bookings of $22.2B. MongoDB shares fell after CEO Chirantan Desai stepped down effective immediately to become the newly created Chief Enterprise Platform Officer at Meta, with the board appointing Dev Ittycheria as interim president and CEO. Summit Therapeutics shares surged after AstraZeneca announced a $2B equity investment in the U.S. biotech and a clinical collaboration to develop new cancer treatments, purchasing convertible preferred shares at a conversion price equivalent to $18.36 per common share, a 10% premium to Summit's five-day volume-weighted average price. For the week, the Dow fell 1.26%, the S&P 500 lost 0.27%, and the Nasdaq Composite climbed 0.45%.

Meta founder Mark Zuckerberg has hired away MongoDB CEO CJ Desai to help bring Meta's AI tools to businesses, the latest in a string of aggressive talent grabs that are now paying off for investors. The move came a day before a MongoDB investor day, and MongoDB's stock crashed on the news. Before the Desai poaching, Zuckerberg spent an eye-popping $14.3 billion to buy up all the employees of hot AI startup Scale AI in 2025, including well-connected wunderkind Alexandr Wang, who got about $5 billion as part of the deal. Meta's new Muse AI agent has been downloaded more than 5.1 million times so far in its short time in the market, and the company also debuted the Muse Charm, a standalone pocket device built exclusively for voice interaction with the Muse agent. Meta's stock is up 25% inside of a month, after being down double digits on the year as investors fretted about rising AI capex.

Corporate upheaval and strategic announcements drove sharp moves in several stocks this week. MongoDB plunged 18.5% on Monday and is on course to end the week down around 14.7% after President and CEO Chirantan Desai resigned with immediate effect to lead a new AI initiative at Meta Platforms; former chief executive Dev Ittycheria returns as interim CEO, and the company reaffirmed its third-quarter and full-year guidance. Synopsys surged 12.8% on Thursday and has gained around 9.2% over the week after setting long-term targets at its 2026 Investor Day in New York, projecting fiscal 2027 revenue of $11.1 billion to $11.2 billion, roughly 15% growth at the midpoint, non-GAAP earnings of $19.04 to $19.12 per share, free cash flow of around $3.1 billion, and plans to repurchase approximately $1 billion of stock, alongside a partnership with OpenAI on GPT-Synopsys and a multi-year IP agreement with Amazon. Mattel jumped 18.8% on Thursday and is on course to close the week up 13.6% after The Wall Street Journal reported that Authentic Brands Group has approached the toy maker with an offer that could value it at more than $20 per share, or around $6 billion or more. Nike fell 5.3% over the week to its lowest level since 2013 after mixed fiscal first-quarter results, with adjusted earnings of 48 cents per share topping expectations of 44 cents but revenue of $11.21 billion missing estimates of $11.35 billion and falling 5% on a currency-neutral basis. Fair Isaac is down 22.7% for the week after Bloomberg reported that the Federal Housing Finance Agency plans to require lenders to use credit data from only two of the three major bureaus for mortgages sold to Fannie Mae and Freddie Mac.

DA Davidson analyst Rudy Kessinger maintained a Buy rating and $465 price target on MongoDB, implying more than 38% upside, after CEO Chirantan CJ Desai departed to join Meta Platforms as chief enterprise platform officer. Kessinger called the departure very disappointing, citing Desai's role in strengthening MongoDB's relationships with large enterprise customers and winning bigger, longer-duration deals. MongoDB has brought back longtime executive Dev Ittycheria as interim CEO while the board searches for a permanent successor; Ittycheria previously led the company from 2014 through 2025. Bank of America analyst Koji Ikeda said the timing was clearly negative and complicates the setup, but kept a Buy rating and $540 price target, implying more than 60% upside, arguing Ittycheria could provide more stability than a typical interim CEO. The transition comes just ahead of MongoDB's Investor Day in New York City, where management is expected to lay out its growth strategy and longer-term priorities.

Meta Platforms CEO Mark Zuckerberg is expected to join President Donald Trump and House Speaker Mike Johnson for an AI-focused lunch Tuesday, alongside Anthropic CEO Dario Amodei, Nvidia CEO Jensen Huang and OpenAI President Greg Brockman. The lunch follows Meta's Monday launch of the Meta Enterprise Platform, a new unit selling Muse, Meta Business Agent and coding tools to companies, which Meta hired MongoDB CEO CJ Desai to run; MongoDB shares fell more than 18% Monday on the news. On Tuesday Meta followed up with Muse for Small Business, which connects the agent to tools including Asana, Zoom, Intuit and Salesforce's Slack, and Meta VP Vishal Shah told Axios that about a third of early Muse users already connect it to some kind of business account. Johnson said the talks will focus on balancing innovation and oversight, telling Reuters, "We do not need a moratorium. We do not need to jump in and hyper-regulate this, because we'll lose the race to China." Meta rose 25% in September after Muse rolled out on Sept. 8, and shares closed Monday at $715.62, down 4.79% and about 8% below the 52-week high of $779.82.

Atlassian shares fell 4.6% in the afternoon session after Meta launched Meta Enterprise Platform, adding competitive pressure to business software just as higher Treasury yields weighed on rate-sensitive software stocks. Meta said the new platform brings its AI stack, including the Muse agent, Meta Business Agent, Muse API, and Muse Code, to businesses and developers, and named former MongoDB CEO Chirantan "CJ" Desai as Chief Enterprise Platform Officer; Reuters reported Desai is leaving MongoDB to lead the effort. Muse Code targets developers who also sit in Atlassian's collaboration and software-tools customer base, raising the risk that a hyperscaler-backed AI suite crowds into Atlassian's market. The move collided with a sector-wide reset, as Morningstar/Dow Jones said technology shares led early declines while the 10-year yield rose to 5.218%. After the initial drop, Atlassian shares recovered some losses and traded at $179.73, down 4.3% from the previous close.

Meta Platforms unveiled the Meta Enterprise Platform, a new business pillar bringing its technology stack to enterprises and developers, including the Muse AI agent, Meta Business Agent, Muse API and Muse Code. The company tapped MongoDB CEO Chirantan CJ Desai to run the new platform, and MongoDB shares plunged roughly 25% by Monday's market open on the leadership news. Meta CEO Mark Zuckerberg cited Desai's background in full-stack software, AI, infrastructure, business applications and security as key reasons for the hire. The announcement pressured software stocks, with the iShares Expanded Tech-Software Sector ETF falling about 2% in early trading, ServiceNow dropping 5%, Salesforce declining 4.5%, Microsoft losing 2%, Oracle falling 3%, Figma dropping 6%, Adobe falling 4%, SAP slipping 3%, monday.com sinking 7% and Accenture declining about 1.5%. The market reaction shows investors are treating Meta's move as more than another AI product launch, with the biggest question remaining whether companies will adopt its enterprise tools at scale and turn them into meaningful revenue.

Meta announced Monday that it is launching the Meta Enterprise Platform, a new initiative aimed at expanding the company's AI offerings to businesses and corporate customers, and has hired Chirantan "CJ" Desai, the CEO of database software giant MongoDB, to lead it. The launch builds on the momentum of Muse, Meta's personal AI assistant launched earlier this month that can perform tasks for users such as sending emails and booking travel. Meta says it will focus on bringing its full technology stack, including Muse, Meta Business Agent, Muse API, Muse Code, and more, to businesses and developers. Desai said in a statement that AI will fundamentally redefine how organizations of all sizes innovate, grow, serve customers, and run business operations, and that Meta Enterprise Platform will focus on turning its AI stack into products and services that companies can deploy for their own businesses. MongoDB's shares dropped by more than 17% on the news of its CEO's sudden departure, and the database maker said it appointed Dev Ittycheria as interim chief executive, who previously served in the role, while the board searches for Desai's permanent replacement.

Meta Platforms shares fell 4.2% to $720.36 on Monday as OpenAI's anticipated reveal of a competing always-on AI assistant added fresh competitive pressure to a stock that had surged roughly 30% in September alone. The catalyst was a September 27 report from BleepingComputer describing OpenAI's rumored "o" assistant as a cloud-based agent capable of executing long-horizon tasks, including handling email, even after a user closes the ChatGPT app, with OpenAI expected to formally unveil the product at its DevDay 2026 keynote on Tuesday, September 29. Meta's September rally was built almost entirely on the breakout success of Muse, its own personal AI agent, which since its September 8 launch has accumulated over 3.4 million downloads and taken the number-one spot in the U.S. App Store, surpassing ChatGPT, pushing META to an intraday high near its 52-week peak of $779.82 and prompting Wells Fargo to lift its price target from $640 to $796. Meta also announced the launch of its Meta Enterprise Platform on Monday, bringing its AI models and agents, including Muse and Meta Business Agent, to enterprise customers, and appointed Chirantan "CJ" Desai as Chief Enterprise Platform Officer reporting directly to Mark Zuckerberg; Desai's sudden departure as CEO of MongoDB sent MongoDB shares tumbling 18% to $336.79 intraday, and MongoDB has re-appointed founder Dev Ittycheria as interim CEO. Goldman Sachs raised questions last week about the return on Meta's massive AI investments, expected to reach $130 billion to $145 billion in capital expenditures for the full year, contributing to an early reversal of the September rally even before the OpenAI news broke.

Nvidia announced an additional $150 billion share buyback authorization, bringing its total remaining authorized amount to $235 billion, which the company said it plans to use through the end of fiscal 2028. The buyback, described by panelists as potentially the largest authorization ever announced, helped lift Nvidia shares, which are up about 21% this year. Nvidia also unveiled a new AI security system called the open agent safety platform, developed with several partners including Anthropic but notably not OpenAI, in response to recent hacking incidents. CEO Jensen Huang told CNBC the platform is designed to keep agentic AI systems within minimal rights, and he said OpenAI is welcome to adopt the open-source technology. The announcements came as Anthropic CEO Dario Amodei met President Trump for a private dinner, with no headlines emerging on what was discussed. Separately, SpaceX launched Starship Flight 14, its first flight into low Earth orbit, carrying 26 Starlink V3 high-speed internet satellites; one of the rocket's six engines went out, but the mission still reached low Earth orbit. Meta introduced a new Meta enterprise platform and hired MongoDB CEO CJ Desai to run it, sending MongoDB shares sharply lower in pre-market trading. President Trump is set to roll back Biden-era fuel economy standards, cutting the 2031 fleet target from roughly 50 MPG to 34.5 MPG, and said he is looking very seriously at a diesel export ban.

MongoDB's stock fell 13.5% on Wednesday despite beating revenue and profit estimates, as growth in its Atlas cloud platform missed investor expectations. Atlas, which drives roughly three-quarters of total revenue, grew 28.9% year over year, short of the roughly 30% pace some investors had anticipated. Total revenue hit $771.8 million, up about 30% year over year and well ahead of the approximately $735 million estimate, while adjusted earnings came in at $1.90 per share versus the $1.61 expected. The company also raised its full-year revenue guidance, but the Atlas shortfall overshadowed the beat, leading to a $4 billion market value loss in a single session. Despite the selloff, several Wall Street firms maintained or raised their price targets, with Guggenheim setting a Street-high $560 target, while CEO Chirantan "CJ" Desai expressed surprise and disappointment, arguing the company delivered a clean beat and raised guidance.

U.S. stock index futures edged lower on Wednesday as investors contended with a global bond selloff, elevated energy prices, and expectations of a Federal Reserve rate hike, pressuring rate-sensitive tech stocks. Dell Technologies climbed nearly 10% after raising its annual revenue and profit forecasts on strong demand for AI-optimized servers, while Hewlett Packard Enterprise rose 4.7% ahead of its earnings. MongoDB tumbled 13.6% despite beating fiscal second-quarter estimates, as investors focused on outlook and valuation. GitLab surged 22% after delivering strong results and raising full-year guidance. Uber Technologies rose 2.4% on plans to cut about 3,300 jobs, and Sirius XM gained 3.1% after a Deutsche Bank upgrade.

Vertiv announced the $1.45 billion acquisition of UtilityInnovation Group, with up to $1.15 billion in additional consideration tied to EBITDA targets over 12- and 24-month periods, sending its shares down less than 1% premarket. Sirius rose over 3% after Deutsche Bank upgraded it to buy with a $45 price target, implying more than 60% upside. Dell Technologies jumped 8% after beating expectations and lifting its fiscal 2027 forecast on strength in AI services. Palo Alto Networks fell nearly 2% despite beating earnings estimates, while MongoDB dropped 13% despite better-than-expected results and guidance. Credo Technology declined about 9% after its non-GAAP gross margin slightly missed expectations.

Stock futures were mixed early Wednesday as investors awaited key economic data and the Federal Reserve's Beige Book, with sentiment constrained by U.S.-Iran strikes and rising global bond yields. Among the biggest movers, GitLab jumped 22% after topping Q2 expectations with revenue up 21% to $286.3M and issuing upbeat guidance, while Dell Technologies surged 10% on strong FQ2 results, including revenue up 58% to $46.97B and adjusted EPS of $7.04. Dell also raised FY2027 revenue guidance by $25B to $192B, well above the $173.3B consensus, driven by an increased AI-optimized server revenue outlook to $74B from $60B, with AI server orders reaching a record $60.9B and a $95B backlog. On the downside, MongoDB fell 15% despite beating estimates with 30% revenue growth and raising its full-year outlook, as higher operating expenses overshadowed results, while Credo Technology dropped 7% despite revenue more than doubling to $479M, due to margin pressure and rising costs.

In after-hours trading, Dell Technologies shares jumped nearly 9% after beating expectations on both lines and lifting its fiscal 2027 forecast, citing strength in its artificial intelligence service business. MongoDB shares dropped 12% despite posting better-than-expected earnings and upbeat guidance, with earnings of $1.90 per share on $772 million in revenue versus analyst forecasts of $1.61 and $734 million. Credo Technology shares slid almost 4% after its non-GAAP gross margin for the first quarter came in at 68%, slightly below the 68.3% analysts expected, though it beat on both lines. GitLab shares rallied nearly 20% on an earnings beat and upbeat full-year guidance, earning 24 cents per share on $286 million in revenue versus estimates of 18 cents and $273 million. Palo Alto Networks shares were flat after a better-than-expected fourth fiscal quarter, with earnings of $1.02 per share on $3.41 billion in revenue versus expectations of 98 cents and $3.35 billion.

Shares of MongoDB, Flywire, and Marqeta declined in afternoon trading as deteriorating macro conditions and an unwinding of retail leverage pressured tech stocks. A reinstated U.S. naval blockade on Iran pushed Brent crude past $85 a barrel, raising expectations that the Federal Reserve will hold rates in the 3.50%–3.75% range, which could drive stricter scrutiny of AI investments. Data storage company MongoDB fell 3%, payments software company Flywire fell 3%, and payments software company Marqeta fell 2.3%. Flywire shares have been volatile, with 15 moves greater than 5% over the past year, and the stock is up 30.1% year-to-date, trading near its 52-week high of $18.78 from July 2026.

US stock futures pointed higher Monday morning, with E-mini S&P 500 contracts up about 0.4%, as investors weighed cooling inflation against uneven global growth. Softer price data in France, where inflation sits at 1.8%, suggested easing cost-of-living pressures that could reduce the need for further central bank rate hikes, while weaker industrial output in Italy and Turkey hinted at slowing factory activity. Among individual movers, Cerebras Systems jumped 8.34% after announcing expanded manufacturing and new European AI infrastructure capacity, Meta Platforms rose 5.97% on AI chip and cloud compute plans, and SBA Communications gained 4.14%. On the downside, Moderna fell 10.83% amid renewed political focus on vaccine skepticism, Okta declined 6.86%, and MongoDB dropped 5.73% despite recent analyst price target increases. Looking ahead, big bank earnings are set to dominate the narrative, with JPMorgan Chase, Wells Fargo, Citigroup, Goldman Sachs, and Bank of America reporting Tuesday, followed by BlackRock, PNC Financial, Bank of New York Mellon, Progressive, Elevance Health, J.B. Hunt, and United Airlines on Wednesday.

Bragar Eagel & Squire, P.C. is investigating potential claims against MongoDB, Inc. on behalf of long-term stockholders, focusing on whether the board of directors breached their fiduciary duties. The investigation follows a class action complaint filed on July 9, 2024, covering a class period from August 31, 2023 to May 30, 2024. The complaint alleges that MongoDB's stock price dropped after the company reported strong fourth-quarter 2024 results but issued lower-than-expected full-year guidance for 2025, citing changes in its sales incentive structure. The stock fell further on May 30, 2024, when MongoDB again lowered its guidance, attributing it to macro impacts on consumption growth, with analysts questioning the effects of marketing strategy changes on customer behavior. Long-term stockholders are encouraged to contact the firm to discuss their legal rights.

Wall Street analysts have set ambitious price targets for MongoDB, DigitalOcean, and Ross Stores, but StockStory urges caution on MongoDB while highlighting DigitalOcean and Ross Stores as more promising. MongoDB’s consensus target of $394.68 implies a 17.5% return, yet its complex enterprise implementation and forecasted 4-percentage-point decline in free cash flow margin raise concerns. DigitalOcean, with a $178.77 target and 17.7% implied return, benefits from 17.6% average billings growth and an expected 30.7% sales acceleration. Ross Stores, trading at $208.83 with a $256.18 target and 22.7% implied return, has posted 5.4% average same-store sales growth and strong returns on capital.

StockStory identifies Graham Corporation as a growth stock with significant upside potential, while MongoDB and First Busey are flagged as facing slowing momentum. Graham Corporation achieved annual revenue growth of 20.3% over the past five years and expanded its operating margin by 13.5 percentage points, with earnings per share growing 31.5% annually over the last two years. MongoDB, despite 23.6% one-year revenue growth, faces concerns including complex enterprise implementation and an expected 4 percentage point contraction in free cash flow margin. First Busey, with 60% one-year revenue growth, is challenged by a low net interest margin of 3.4% and an estimated 3.1% decline in tangible book value per share over the next 12 months.