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Tag: Portable Power Tools

  • Shopify makes progress on free cash flow, but stock moves lower after earnings

    Shopify makes progress on free cash flow, but stock moves lower after earnings

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    Shopify Inc. easily topped adjusted profit expectations for its latest quarter, though shares of the e-commerce marketplace were headed lower in Wednesday’s after-hours action.

    The e-commerce company reported a comprehensive loss of $1.30 billion, or $1.02 a share, whereas it logged a loss of $1.21 billion, or 95 cents a share, in the year-earlier period.

    On an adjusted basis, Shopify
    SHOP,
    -7.44%
    earned 14 cents a share, whereas analysts tracked by FactSet were anticipating 6 cents a share.

    Don’t miss: Mastercard earnings bring latest signal of healthy spending

    Revenue jumped to $1.69 billion from $1.30 billion a year prior, while the FactSet consensus was for $1.63 billion.

    Gross merchandise volume, or the dollar value of orders facilitated through Shopify’s platform, came in at $53.5 billion. Analysts had been modeling $55.0 billion. The company also posted $31.7 billion in gross payments volume.

    See also: Apple appears to be making rapid inroads in buy-now-pay-later

    For the third quarter, Shopify anticipates a revenue growth percentage in the low-20s on a year-over-year basis. The company also expects free cash flow in the third quarter to exceed the first-half total.

    Shopify generated $97 million in free cash flow during the second quarter, beating the $27 million FactSet consensus and bringing its first-half haul to $183 million. Analysts were expecting $96 million in free cash flow for the third quarter.

    “We’re not just shipping products faster, but we are also expanding our global merchant base, all while improving our ability to generate greater free cash flow,” President Harley Finkelstein said in a release.

    More from MarketWatch: PayPal’s stock falls as earnings beat, but a margin metric misses

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  • Stock futures slide after Fitch’s U.S. downgrade sours the market mood

    Stock futures slide after Fitch’s U.S. downgrade sours the market mood

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    U.S. stock futures stumbled Wednesday after markets were rattled by a downgrade to the U.S. government’s credit rating.

    How are stock-index futures trading

    • S&P 500 futures
      ES00,
      -0.73%
      dipped 42 points, or 0.9%, to 4559

    • Dow Jones Industrial Average futures
      YM00,
      -0.51%
      fell 257 points, or 0.7%, to 35500

    • Nasdaq 100 futures
      NQ00,
      -1.04%
      lost 204 points, or 1.3%, to 15613

    On Tuesday, the Dow Jones Industrial Average
    DJIA
    rose 71 points, or 0.2%, to 35631, the S&P 500
    SPX
    declined 12 points, or 0.27%, to 4577, and the Nasdaq Composite
    COMP
    dropped 62 points, or 0.43%, to 14284.

    What’s driving markets

    Equity-index futures are succumbing to a broad risk off tone across markets after rating agency Fitch downgraded the U.S.’s credit rating from AAA to AA+, citing “expected fiscal deterioration” and an “erosion of governance”.

    Fitch’s move follows a similar downgrade by S&P more than a decade ago. The U.S. Treasury market acts as a global benchmark upon which many financial products are based and so uncertainty about its stability can cause anxiety for investors.

    The news found a stock market arguably vulnerable to unwelcome surprises, with the S&P 500 having already gained 19.2% this year and the tech-heavy Nasdaq Composite up 36.5%.

    The CBOE VIX Index , an option-based gauge of expected S&P 500 volatility, jumped 16% to 16.2, its highest in nearly four weeks.

    Traditional perceived havens saw demand, with the Japanese yen
    USDJPY,
    -0.41%
    gaining 0.7%, gold
    GC00,
    +0.34%
    nudging up to $1,950 an ounce, and benchmark German government bond yields
    BX:TMBMKDE-10Y
    moving lower. U.S. 10-year Treasury yields
    BX:TMUBMUSD10Y
    were little changed at 4.03%.

    However, most analysts did not see the downgrade causing the stock market much long term damage.

    “While debt downgrades seldom, if ever, have long legs, investors may pause and let the dust settle before re-entering risk markets. However, within this super market-friendly environment of stable growth and a Fed close to the end of its hiking cycle creating fertile ground for stock gains, its unlikely risk sentiment will wander too far off the soft landing path,” said Stephen Innes, managing partner of SPI Asset Management.

    Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said “the market remains sensitive as the final throes of earnings season rumble on, but 82% of S&P 500 companies that have reported results so far have surprised to the upside, offering a bit of a sentiment buffer.”

    Earnings results due Wednesday include CVS Health
    CVS,
    -0.99%    ,
    Humana
    HUM,
    +0.28%
    and Carlyle Group
    CG,
    -0.56%
    before the opening bell, followed after the close by PayPal
    PYPL,
    -0.38%    ,
    Shopify
    SHOP,
    -0.19%
    and Qualcomm
    QCOM,
    -0.07%    .

    U.S. economic updates set for release on Wednesday include the ADP employment report at 8:15 a.m. Eastern.

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  • Pinterest stock advances, Masimo shares slump on outlook and other stocks on the move

    Pinterest stock advances, Masimo shares slump on outlook and other stocks on the move

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    Here are some of the biggest movers of the day:

    Stock gainers:

    Shares of Pinterest Inc.
    PINS,
    +3.64%
    were gaining 4% after an Evercore ISI analyst moved to a bullish stance, cheering better advertising-market conditions and improvements made by Chief Executive Bill Ready, who is about a year into his stint.

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  • U.S. stock futures see volatile trading on Fed and bank angst; Apple results loom

    U.S. stock futures see volatile trading on Fed and bank angst; Apple results loom

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    U.S. stock futures were inching higher Thursday as traders contemplated the latest Fed decision, more banking sector stress, and Apple’s impending results.

    How are stock-index futures trading
    • S&P 500 futures
      ES00,
      -0.10%
      rose 3 points, or 0.1%, to 4111

    • Dow Jones Industrial Average futures
      YM00,
      -0.08%
      added 6 points, or 0%, to 33498

    • Nasdaq 100 futures
      NQ00,
      +0.20%
      climbed 40 points, or 0.3%, to 13140

    On Wednesday, the Dow Jones Industrial Average
    DJIA,
    -0.80%
    fell 270 points, or 0.8%, to 33414, the S&P 500
    SPX,
    -0.70%
    declined 29 points, or 0.7%, to 4091, and the Nasdaq Composite
    COMP,
    -0.46%
    dropped 55 points, or 0.46%, to 12025.

    What’s driving markets

    Results from Apple
    AAPL,
    -0.65%    ,
    the market’s biggest company, which are due after the closing bell on Thursday, will move into sharper focus as the session progresses.

    But before that investors must contend with disappointment over the Federal Reserve’s policy stance and renewed fretting about the U.S. regional banking sector that have delivered volatile trading over the past 24 hours and left stock-index futures struggling to rally.

    The S&P 500 slid 0.7% on Wednesday after the Fed again raised interest rates and irked some traders by seeming equivocal on whether the implied pause in monetary tightening meant the cycle of rate hikes were at an end and cuts could come soon.

    “As widely expected, the Federal Reserve raised interest rates by a further 0.25%, which of itself was not market moving. Of rather more interest was the implication that the rate hiking cycle had now ended, even though the Fed remains poised to act again if necessary,” said Richard Hunter, head of markets at Interactive Investor.

    “At the same time, the Fed dampened expectations for any interest rate reductions in the immediate future, contrary to investor hopes that some kind of easing may follow before the end of the year, depending on the severity of any potential recession,” he added.

    Traders will also be keeping an eye out for any surprises when the European Central Bank delivers its policy decision at 2:15 p.m. Central European time (8:15 a.m. Eastern).

    Then, late on Wednesday, just hours after Fed Chair Jay Powell said that the banking sector was “sound and resilient” shares in PacWest Bancorp
    PACW,
    -1.98%
    plunged 50% in after-hours trading after reports the struggling regional bank’s executives were weighing a possible sale.

    Stock index futures dived further in response on fears of continued turmoil in the financial sector. But though they have managed to recover much of those secondary losses the febrile action signals a nervous market, analysts noted.

    “It looks like more trouble is brewing for the U.S. banking sector, on the contrary to what Powell said yesterday,” said Ipek Ozkardeskaya, senior analyst at Swissquote.

    Other company results due on Thursday include Moderna
    MRNA,
    -0.96%    ,
    Peloton
    PTON,
    +2.56%    ,
    Kellogg
    K,
    +0.49%    ,
    before the opening bell rings, followed by Lyft
    LYFT,
    +2.35%
    and Shopify
    SHOP,
    -1.09%
    after the close.

    U.S. economic updates set for release on Thursday include weekly initial jobless claims; first quarter productivity and unit labor costs; and the March trade deficit. All are due at 8:30 a.m. Eastern.

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  • National Instruments, Tesla, Bed Bath & Beyond, and More Stock Market Movers

    National Instruments, Tesla, Bed Bath & Beyond, and More Stock Market Movers

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    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-94b3c433

    • Order Reprints
    • Print Article

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  • Silicon Valley Confronts the End of Growth. It’s a New Era for Tech Stocks.

    Silicon Valley Confronts the End of Growth. It’s a New Era for Tech Stocks.

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    Silicon Valley could use a reboot. The biggest players aren’t growing, and more than a few are seeing sharp revenue declines. Regulators seem opposed to every proposed merger, while legislators push for new rules to crack down on the internet giants. The Justice Department just can’t stop filing antitrust suits against Google. The initial public offering market is closed. Venture-capital investments are plunging, along with valuations of prepublic companies. Maybe they should try turning the whole thing on and off.

    The only strategy that seems to be working is to lay people off. Tech CEOs suddenly are channeling Marie Kondo, tidying up and keeping only the people and projects that “spark joy,” or at least support decent operating margins. Layoffs.fyi reports that tech companies have laid off more than 122,000 people already this year.

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  • PayPal to lay off 7% of employees as part of cost-cutting push

    PayPal to lay off 7% of employees as part of cost-cutting push

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    PayPal Holdings Inc. plans to lay off about 7% of its staff as it continues with broader efforts to reduce costs.

    Chief Executive Dan Schulman announced the layoffs, which will affect about 2,000 PayPal PYPL employees, in an email to the staff Tuesday afternoon.

    “While we have made substantial progress in right-sizing our cost structure,…

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  • Why Shopify’s New Pricing Plan Is Driving the Stock Higher

    Why Shopify’s New Pricing Plan Is Driving the Stock Higher

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    Shopify


    stock got a lift after the e-commerce company announced changes to its pricing—a move one analyst said positions it for better growth.

    “The price we charge for access to the best tools in commerce has remained largely unchanged for the last 12 years,” wrote Kaz Nejatian,


    Shopify


    ‘s chief operating officer, in a blog post announcing the changes.

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  • Amazon CEO says more layoffs are coming in 2023

    Amazon CEO says more layoffs are coming in 2023

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    Amazon.com Inc. plans more layoffs, but employees will have to wait until 2023 to see if their jobs are affected.

    Chief Executive Andy Jassy said Thursday that while Amazon
    AMZN,
    -2.34%
    already confirmed that it was eliminating jobs in its devices and books businesses, an unknown number of layoffs impacting other teams are still to follow.

    See more: Amazon confirms layoffs, becoming latest tech powerhouse to slash roles

    “Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments,” he said in a blog post on the company’s corporate site. “Those decisions will be shared with impacted employees and organizations early in 2023.”

    While Jassy doesn’t know “exactly how many other roles will be impacted,” he does know “that there will be reductions in our Stores and PXT organizations.” The company already announced a “voluntary reduction offer for some employees” working in PXT, or People Experience and Technology Solutions.

    The Wall Street Journal reported earlier this week that Amazon could end up slashing 10,000 jobs.

    Jassy took over as Amazon’s CEO in July 2021 and said Thursday that “without a doubt,” the move to cut staff is “the most difficult decision we’ve made” since he’s been in the role.

    “It’s not lost on me or any of the leaders who make these decisions that these aren’t just roles we’re eliminating, but rather, people with emotions, ambitions and responsibilities whose lives will be impacted,” Jassy said.

    He added that Amazon “has weathered uncertainty and difficult economies in the past, and we will continue to do so.” Jassy emphasized that Amazon will continue to plug away on more established areas like stores, advertising and cloud computing, as well as newer initiatives like Prime Video, the Alexa voice assistant and healthcare.

    Amazon joins other technology companies including Meta Platforms Inc.
    META,
    -1.57%    ,
    Snap Inc.
    SNAP,
    -1.36%    ,
    Shopify Inc.
    SHOP,
    -2.05%
    and Twitter in recently eliminating jobs. An activist investor earlier this week urged Alphabet Inc.
    GOOG,
    -0.49%

    GOOGL,
    -0.50%
    to cut positions as well.

    See more: Here are the companies in the layoffs spotlight

    Shares of Amazon were up 0.3% in after-hours trading Thursday after declining 2.3% in the regular session.

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