markets

Nia Warfield8/7/25

Shopify surges on strong Q3 revenue outlook

Shopify shares rose 22% on Wednesday after the e-commerce giant posted second-quarter results.

Revenue (in USD) leapt 31% to $2.68 billion, ahead of the $2.55 billion estimate from analysts polled by FactSet. Gross merchandise volume came in at $87.8 billion, also ahead of the Street’s estimate of $81.6 billion. The company didn’t post per-share earnings figures in its release.

Investors appear to be most optimistic about the company’s estimates for the current quarter. Shopify expects revenue to grow at a mid- to high 20s percentage rate on a year-over-year basis. Analysts forecast revenue growth of about 20.3%

Prior to the report, Shopify shares were up 15.5% year to date.

UPDATE (August 7,th 9am ET): An earlier version of this story said that the company missed estimates, this was incorrect. The wrong figures for consensus estimates for revenue and gross merchandise volume have both been corrected to $2.55 billion and $81.6 billion, respectively.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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