Shopify Inc reported quarterly revenues increased 22% but swung to net loss and guided lower revenue growth in the second-half. The company announced plans to acquire Deliverr for $1.2 billion.
SHOP
SHOP
Tripadvisor quarterly revenues surged and net loss shrank sharply as people begin to travel and dine outside.
TRIP
TRIP
Wayfair reported quarterly sales declined and a loss after fewer customers shopped on the online home furnishing platform.
W
W
Wayfair plunged after reporting a decline in sales and a quarterly loss. Shopify and Etsy fell after reporting slower growth. EPAM jumped on sales growth. Hain Celestial offered a weak sales outlook. Sprouts Farmers fell after estimating earnings and sales at the low end of previous guidance.
EPAM HAIN SHOP
EPAM HAIN SHOP
U.S. stocks erased most of the gains logged in the previous session after digesting comments from the Fed suggested its inability in controlling supply shocks, impacting energy prices, and supply disruptions. Despite record job openings, labor participation rate is not increasing.
The S&P 500 and the Nasdaq Composite index accelerated gains after the Fed Governor Powell said 75 basis points rate increase was not discussed in the policy meeting.
The Federal Reserve lifted its key rate by 50 basis points and announced a plan to shrink its portfolio of Treasurys and agency debts. The rate hike was the largest since May 2000.
U.S. stocks advanced and investors added positions ahead of the rate decision this afternoon. Investors are looking beyond a widely anticipated 50 basis points interest rate hike and hoping that the inflation has peaked.
CVS
CVS
Starbucks revenues increased 15% in the latest quarter driven by a stronger sales increase in the U.S. offset by sales decline in China, the second largest market for the coffee chain. Operating margins also declined on the rising wages and supply chain costs.
SBUX
SBUX
U.S. stock indexes in volatile trading advanced as anxious investors await the Fed's rate hike decision tomorrow and comments indicating how far the central bank is willing to go by the year's end.
Shutterstock reported first quarter 2022 quarterly revenues rose 9% but net income declined 10%. CEO Stan Pavolysky also resigned as CEO and a director.
SSTK
SSTK
Expedia Group revenues in the quarter surged as travel rebounded and hotel bookings surged from the previous quarter and a year ago. Gross bookings surged 58% to $24.4 billion but still 15% below first quarter 2019 levels.
EXPE
EXPE