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Shopify’s Stock Tumbles: Analyzing the Impact of Weak Guidance
Earnings Report Highlights:
- Earnings per share: 20 cents adjusted vs. 17 cents expected
- Revenue: $1.86 billion vs. $1.85 billion expected
The first-quarter results of Shopify exceeded expectations, but the company’s outlook for the current quarter raised concerns. Shopify anticipates second-quarter revenue growth to be in the high-teens percentage range year over year, aligning with the consensus estimate of 19.5%. However, this projection signifies a slowdown compared to previous quarters where revenue growth ranged in the low-to-mid twenties.
During a conference call with analysts, Shopify executives acknowledged the strength of consumer spending in the U.S. but also highlighted challenges such as foreign exchange headwinds due to the strong U.S. dollar and a decline in European consumer spending affecting the Q2 outlook.
Financial Projections:
For the second quarter, Shopify expects a slight decrease in gross margins compared to the first quarter, attributed to the sale of its logistics business to Flexport last May. Operating expenses are projected to rise in the low-to-mid single digits quarter-over-quarter, contrary to Wall Street’s expectation of flat growth.
Analysts at Baird expressed concerns about the increased operating expenses impacting Shopify’s margin trajectory, potentially leading to a stock rerating. Despite this, they maintain an outperform rating on Shopify’s stock.
Technological Advancements:
Shopify has been investing in AI features for businesses, such as “Shopify Magic,” which automates tasks like generating listings and editing images. Competitors like Amazon, Etsy, and eBay have also integrated AI capabilities for sellers on their platforms.
While focusing on AI development, Shopify has scaled back in other areas like logistics services, as evidenced by a 20% reduction in its workforce last May following a post-pandemic e-commerce slowdown.
Shopify President Harley Finkelstein emphasized the company’s long-term vision and commitment to future investments during an interview with CNBC’s “Squawk on the Street.”
Financial Performance:
In comparison to the year-ago quarter, Shopify reported a net loss of $273 million, or 21 cents per share, contrasting with a profit of $68 million, or 5 cents per share. Despite this, the gross merchandise volume on the platform saw a 23% increase to $60.9 billion, surpassing consensus expectations.
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Shopify’s Stock Tumbles: Analyzing the Impact of Weak Guidance
Thai Stocks React to Fed Rate Cuts: Analysts Reveal Insights
Thai stocks closed -3.04 points, analysts revealed. Thailand stocks have no new factors to support No new factors to support The market is reacting to the issue of interest rate cuts from the Federal Reserve (Fed) this year However, the market hopes that funds long-term mutual (LTF) drives the medium-long term index and helps limit the downside. Evaluate tomorrow’s investment framework as support at 1,370 points and resistance at 1,385 points.
The Thailand stock market closed for trading on May 8, 2024, down -3.04 points or -0.22%, closing at 1,373.33 points, trading value 42,251.03 million baht, while the general stock trades today The index fluctuates to the side. During the day it rose to a maximum of 1,379.04 points, in the opposite direction it fell to a minimum of 1,372.86 points.
Meanwhile, the number of securities that changed today increased by 226 securities, remained unchanged by 190 securities, and decreased by 238 securities.
In terms of trading volume classified by investor group, it was found that foreign investors net sold more than -1,497.22 million baht and institutional investors net sold more than -25.84 million baht On the other hand, it was found that domestic investors made net purchases of more than +1,261.11 million baht and accounts of securities companies made net purchases of more than +261.95 million baht.
As for the securities with the highest trading value, 5 securities
1.TRUE trading value 2,023.14 million baht, closed at 8.75 baht, an increase of 0.25 baht.
2.PTT trading value 2,015.07 million baht, closed at 33.75 baht, price unchanged.
3.KBANK trading value 1,836.14 million baht, closed at 132.50 baht, an increase of 0.50 baht.
4.ADVANC trading value 1,808.99 million baht, closed at 206.00 baht, down 3.00 baht.
5.CPALL(XD) trading value 1,482.46 million baht, closed at 57.50 baht, down 0.75 baht.
In terms of the SET100 index, the 5 sites with the most positive price increases are:
1.SISB closed at 40.50 baht, up 2.00 baht or 5.19%.
2.MTC closed at 46.50 baht, up 1.25 baht or 2.76%.
3.RCL closed at 22.20 baht, up 1.20 baht or 5.71%.
4.AEONTS closed at 165.00 baht, up 1.00 baht or 0.61%.
5.MOSHI closed at 52.50 baht, up 0.75 baht or 1.45%.
In terms of the SET100 Index, the five sites with the biggest price declines are:
1.ADVANC closed at 206.00 baht, down 3.00 baht or 1.44%.
2.SAWAD (XD) closed at 37.75 baht, down 2.75 baht or 6.79%.
3.SCC closed at 247.00 baht, down 2.00 baht or 0.80%.
4.BH closed at 250.00 baht, down 2.00 baht or 0.79%.
5.CBG closed at 67.25 baht, down 1.00 baht or 1.47%.
While the SET100 index closed at 1,864.72 points, down -5.18 points or -0.28%, the SET50 index closed at 843.29 points, down -2.43 points or -0.29%, and the market index closed at 389.62 points, down – 2.37 points or -0.60%.
Mr said. Narongdet Chanthapaisarn, Director of Securities Analysis at AIRA Securities, that the Thai stock market today is turning sideways within a narrow range. No new supporting factors The market has already reacted to the issue of lowering interest rates by the United States Federal Reserve (Fed) this year, including the issue of reducing the QT limit in June.
Although the proposal to revive long-term equity mutual funds (LTF) is seen in the medium-long term, it will help limit the downside a bit. and should help flow money back in. However, clarity must follow. Including fund conditions From the initial news, it can be seen as positive psychology for the market.
“The outlook for the Thai stock market tomorrow is expected to move out of positive territory. Investors are waiting to follow the disclosure of import-export totals. and China’s April monthly trade balance tomorrow Assessing the overall economic trend Including follow-up work on the gradual reporting of the operating results of listed companies in the 1st quarter of 2024, giving a support frame of 1,370 points and a resistance of 1,385 points,” Mr Narongdej came to the collection.
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Thai Stocks React to Fed Rate Cuts: Analysts Reveal Insights