MDB

Moving with its software peers

• MDB +1.20% on the last session vs SPY +0.13%: +1.1 pts of stock-specific move.
• Software basket +2.4% (+2.3 pts vs SPY; INTU +6.3%, NOW +5.4%, WDAY +4.4%, ADBE +3.9%): the stock moved with its peers.
• Market backdrop (Today): Core PPI m/m 1.3% vs 0.3% expected (hotter); Core Retail Sales m/m 0.9% vs 0.6% expected (stronger); S&P futures -0.08%, 10-year yield -3bp in the 30 minutes after.