Shopify on Wednesday reported weaker-than-expected results for the second quarter, and warned that inflation and rising interest rates would weigh on the business in the second half of the year.
Shopify's layoff announcement on Tuesday, and subsequent stock fall, appears to have "de-risked" its shares on Wednesday, said Tom Forte, an analyst at D.A. Davidson, who has a hold rating on the stock.
Meta Braces for First Revenue Drop in a Decade; Shopify Slashes Workforce by 10% - ExchangeWire.com
In today's ExchangeWire news digest: Meta investors prepare for a drop in revenue as the company revamps its platforms to compete with TikTok; Shopify prepares to cut its workforce by about 10%; and contextual advertising company Seedtag amasses €250m (£211m) in funding from Advent International.
Smartrr Subscriptions Introduces the Strongest Subscription Tool in the Shopify Ecosystem
Ethereum has been on a tear, gaining 14% in the past 24 hours. The world's second-biggest cryptocurrency by market capitalization is now up more than 47% in the past 14 days ahead of the Merge.
The pandemic-fueled broadband party is officially over, as Comcast Corp. netted no new such customer additions in its latest quarter.
Microsoft, Shopify fall after earnings, Texas Instruments sees better than expected revenue
Investors placed some last-minute markers on Tuesday as stocks fell ahead of Wednesday’s Federal Reserve decision on interest rates . U.S. Treasurys rose.
Markets pondered several significant earnings reports during the session, but the market force remains the Fed’s Federal Open Market Committee’s 2 p.m. rate announcement, which is expected to hike a key interest rate by three quarters of a point.
Cathie Wood Trades the News on Shopify and Coinbase Stocks. Should Investors Do the Same?
shopify earnings: Shopify extends drop after posting loss and weaker outlook - The Economic Times
The government raised another ₹4,000 crore on the second day of the 5G spectrum auctions, taking its total proceeds from the sale to ₹1.49 lakh crore.
Bharti Airtel and Reliance Jio Infocomm are believed to have finalised their 5G equipment partners, awarding contracts to Finland's Nokia, Sweden's Ericsson and Korea's Samsung, officially shutting out Chinese vendors Huawei and ZTE from the rollouts of the next-gen technology.
Shopify Sees E-Commerce Reset to Pre-Pandemic Trends, Warns of Wider 3Q Operating Loss - MarketWatch
Shopify Inc. set expectations for a "different" 2022, calling it a transition year as e-commerce is expected to fall to pre-pandemic trend line and faces the added pressures of higher inflation.
On Wednesday, the Canadian e-commerce giant said that e-commerce has largely reset to a pre-Covid trend line and that it now faces pressures from higher inflation.
Shopify predicts steeper losses, but stock still rallies after earnings - MarketWatch
A day after announcing it would conduct steep layoffs, Shopify Inc. announced a quarterly loss and issued more cautious commentary about the way inflation was impacting the business, though its shares rallied sharply following the latest report.
Shopify Delivers Bad News to Joe Biden - TheStreet
While President Joe Biden's administration grapples with defining exactly what a recession is, there are growing signs that the U.S. is heading into one.
The U.S. economy, the world's largest, shrank for a second consecutive quarter over the three months ending in June, Commerce Department data is expected to confirm later this week, but the debate as to whether it's slipped into recession is likely to continue for a long time after.
Earnings tomorrow: $META META $SHOP Shopify $SPOT Spotify $F Ford $BA Boeing $QCOM Qualcomm MarketRebels (from Chicago, IL) Wed Jul 27 01:00:01 +0000 2022
BREAKING MY SILENCE you can now hook up your store to your YouTube channel which means your fans can discover, bro… https://t.co/s42ISszGqC Shopify (from Everywhere) Tue Jul 19 13:05:59 +0000 2022
⚠️BREAKING: *SHOPIFY TO LAY OFF 1,000 WORKERS, OR 10% OF ITS EMPLOYEES: CEO MEMO - WSJ *U.S. LISTED SHARES OF SHO… https://t.co/ysxbEjqYg6 Investingcom (from Global) Tue Jul 26 13:24:24 +0000 2022
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