Business
Shopify Stock Soars 17% After ‘Monster Quarter’ Beats Estimates on Every Major Metric This Week and Beyond
Shopify shares surged Wednesday after the Ottawa-based e-commerce software company delivered second-quarter results that beat Wall Street expectations across every major metric, along with a third-quarter outlook that comfortably outpaced analyst forecasts, sending the stock toward its highest levels of the year.
Shopify shares climbed as much as 33.8% in premarket trading before settling to a gain of 16.72% by the time markets opened, with the stock changing hands at $143.91. The rally marked one of the largest single-session moves in the company’s history and erased a substantial portion of the stock’s earlier year-to-date underperformance, which had left shares down roughly 23.4% through Tuesday’s close.
A Broad-Based Beat
Shopify reported second-quarter revenue of $3.58 billion, up 34% from the prior year and well ahead of the consensus estimate of approximately $3.45 billion compiled by Visible Alpha. Adjusted earnings came in at 42 cents per share, topping the 40-cent forecast by two cents. Gross merchandise volume, the total dollar value of transactions processed through Shopify’s platform, rose 32% year over year to $115.57 billion, also exceeding analyst expectations of $111.98 billion.
Profitability metrics showed similar strength. Gross profit reached $1.71 billion, up 31% from the same period a year earlier, while free cash flow came in at $654 million, representing an 18% margin, up sharply from $422 million in the prior-year quarter. Chief Financial Officer Jeff Hoffmeister pointed to growth across merchant sizes, sales channels and geographies as central to the results, saying in a statement that the company is building a model defined by broad-based, consistent and compounding growth paired with financial discipline.
Guidance Clears a High Bar
Perhaps more significant than the second-quarter beat was Shopify’s outlook for the current quarter. The company projected third-quarter revenue growth at a low-thirties percentage rate, well ahead of Wall Street’s expectation of a roughly 26% to 27% increase. If achieved, that guidance would mark the sixth consecutive quarter in which Shopify’s revenue growth has exceeded 30%, a streak that has become a central pillar of the bullish case for the stock among analysts who follow the company closely.
Easing Fears Over AI Competition
The scale of Wednesday’s rally reflected not just the strength of the quarter itself, but relief among investors who had grown increasingly concerned about competitive threats to Shopify’s business from artificial intelligence tools aimed at small businesses. Rothschild & Co Redburn downgraded Shopify stock to neutral in July, arguing that Meta Platforms’ expanding push into AI-powered commerce tools for small merchants could erode Shopify’s competitive advantage over time, a call that had weighed on sentiment heading into the earnings report.
Wednesday’s results appeared to substantially quiet those concerns, at least for now. Shopify’s own AI initiatives, including its Sidekick AI assistant, have drawn increasing attention from Wall Street analysts as a potential growth driver rather than a competitive threat. Morgan Stanley initiated coverage on Shopify last month with an Overweight rating and a $192 price target, citing the company’s e-commerce strength and what it described as a fast path to monetization through AI tools. Analysts at RBC Capital have separately argued that AI-built custom commerce tools are unlikely to fully replace established platforms like Shopify, countering fears that artificial intelligence could erode the company’s competitive moat. Stifel and Bank of America have both maintained Buy ratings with $150 price targets, pointing to Shopify’s positioning in what the firms describe as “agentic commerce,” AI-driven systems capable of handling more of the shopping journey automatically.
A Volatile Run-Up to Earnings
Wednesday’s surge capped an unusually volatile stretch for Shopify shares heading into the earnings report. The stock had swung from the mid-$120s down toward $112 over the prior several weeks before rebounding to close near $123 on Tuesday, a pattern that traders said reflected active dip-buying even amid uncertainty ahead of the results. In premarket trading following the earnings release, the stock briefly spiked from roughly $123 to above $160 before cooling off, an unusually wide intraday range that underscored just how sharply investor sentiment shifted once the numbers were released.
A Premium Valuation Still in Place
Despite Wednesday’s rally, Shopify continues to trade at valuation multiples well above the broader market, with a price-to-earnings ratio above 110 and a price-to-sales ratio exceeding 12, reflecting the growth-stock premium investors have historically assigned to the company. That elevated valuation means the stock will likely remain sensitive to any signs that its growth trajectory is decelerating in future quarters, even as Wednesday’s results provided a strong reason for bulls to extend their thesis in the near term.
Resilient Consumer Spending Amid Global Uncertainty
Shopify’s strong results also arrived against a broader economic backdrop marked by geopolitical tensions and elevated gas prices tied to the ongoing conflict involving Iran, factors that have put pressure on household budgets in several of the company’s key markets. Despite those headwinds, consumer demand has remained resilient, supported by a strong labor market and continued wage growth, dynamics that appeared to translate directly into the strength of Shopify’s merchant sales volumes during the quarter.
With Wednesday’s results delivering the company’s strongest single-day stock reaction in recent memory, attention now shifts to whether Shopify can sustain its accelerating growth trajectory into the back half of the year. Investors are likely to watch closely for further evidence that the company’s AI tools are translating into deeper merchant adoption and higher take rates, factors that analysts say will be central to determining whether Shopify’s premium valuation remains justified as competition in AI-driven commerce continues to intensify across the broader technology sector.
Business
Meta says AI model accessed the internet and hacked another firm
Facebook owner Meta says an error during an evaluation by an independent testing company allowed one of its artificial intelligence (AI) models to connect to the internet and hack another organisation’s system.
The announcement follows recent incidents across the AI industry, including breaches by OpenAI and Anthropic models, that have raised cyber-security concerns.
A Meta spokesperson told the BBC that it was investigating the hack that was caused by a “misconfiguration”, which it described as similar to previously reported incidents at other firms.
The incidents have prompted researchers and governments to call for tougher safeguards and more rigorous testing.
Meta said the tests were conducted by Irregular, an AI security vendor, which notified it about the breach.
The BBC has contacted Irregular for comment.
Meta also said it will publish more information on the incident “once we have all the facts.”
In the past two weeks, AI leaders OpenAI and Anthropic have also reported incidents in which their models hacked into other organisation’s systems during testing.
ChatGPT-maker OpenAI said in a series of announcements that its agents attacked several publicly available services, including AI tools hub Hugging Face.
OpenAI’s disclosure prompted rival Anthropic to conduct its own checks, leading to the discovery that its Claude AI model had carried out similar attacks on several firms after a “misconfiguration” gave it access to the internet.
Some commentators have questioned the timing of disclosures about the incidents as tech firms wrestle for dominance in AI development.
OpenAI and Anthropic are preparing blockbuster stock market listings that are expected to value each firm at around $1tn (£740bn).
This week, the UK’s AI Security Institute (AISI) said that its testing had found that some models tried to carry out cyber-attacks by creating fake human profiles to try and trick people.
In the most serious case, the AISI said Anthropic’s Mythos AI tried to gain access to a service by sending private messages using fake accounts mimicking real people.
Anthropic said AISI’s tests were not “representative of any of our production models”. OpenAI, whose models were also tested, said AISI’s evaluations did not reflect ordinary use.
Business
Why is Beach Energy stock sliding today?

Why is Beach Energy stock sliding today?
Business
Nationwide recall issued for dog and horse medication over fiberglass
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A nationwide recall has been issued for dog and horse medication after fiberglass was found floating in injection vials.
American Regent, Inc. announced that select lots of Adequan Canine Injection and Adequan i.m. Injection joint medication are affected by the recall.
The recall includes two lots of Adequan Canine Injection, which is used to treat joint dysfunction in dogs, and two lots of Adequan i.m. Injection, which is for treating joint dysfunction and lameness in horses.
SOME OLDER FORD VEHICLES POSE ‘UNREASONABLE’ SAFETY RISKS, REGULATORS WARN

American Regent, Inc. announced that select lots of Adequan Canine Injection and Adequan i.m. Injection joint medication are affected by the recall. (FDA)
Both products are clear and colorless to slightly yellow solutions administered by intramuscular injection.
The company said the glass fibers were found during routine testing.
American Regent, Inc. said it has not received any reports of an injury related to the recall.
POPULAR WALMART NUT BUTTER RECALLED AFTER TESTING DETECTS SALMONELLA

Both products are clear and colorless to slightly yellow solutions administered by intramuscular injection. (FDA)
Consumers are urged to stop using the recalled product lots and to throw them away or return them to the manufacturer. Consumers should also contact a veterinarian if their pets have experienced any problems that may be linked to using the medication.
“The administration of an intramuscular injectable product containing particulate matter, such as glass fibers, may result in local irritation, swelling, inflammation, injection site pain, infection, or abscesses,” the company said in its recall notice.

American Regent, Inc. said it has not received any reports of an injury related to the recall. (Getty Images / Getty Images)
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Veterinary hospitals, distributors and retailers are also instructed to return any unused product to the manufacturer or discard the item.
“American Regent, Inc. is committed to the safety of patients who rely on its products and is taking this precautionary action to protect public health,” the company said.
Business
Amprius Technologies, Inc. (AMPX) Q2 2026 Earnings Call Transcript
Operator
Good morning. Welcome to the Amprius Technologies Second Quarter 2026 Earnings Conference Call. Joining us for today’s presentation are the company’s CEO, Tom Stepien; and CFO, Ricardo Rodriguez. [Operator Instructions] Please note that this presentation contains forward-looking statements, including, but not limited to, statements regarding the company’s financial and business performance, business strategy, future product development or commercialization, new customer adoption, and new applications, the company’s growth and the growth of the markets in which it operates and the timing and ability of Amprius to expand its manufacturing capacity, scale its business and achieve a sustainable cost structure.
These statements involve known and unknown risks, uncertainties and other important factors that may cause Amprius’ results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. For a more complete discussion of these risks and uncertainties, please refer to Amprius’ filings with the Securities and Exchange Commission.
This presentation includes a non-GAAP financial measure, which is adjusted EBITDA. This non-GAAP financial measure does not replace the presentation of Amprius’ GAAP financial results and should only be used as a supplement to, not a
Business
McKesson Corporation (MCK) Q1 2027 Earnings Call Transcript
Operator
Welcome to McKesson’s First Quarter Fiscal 2027 Earnings Conference Call. Please be advised that today’s conference is being recorded.
At this time, I would like to turn the call over to Paula Adkison, SVP of Corporate Finance and Investor Relations. Please go ahead.
Paula Adkison
Thank you, operator. Good afternoon, and welcome, everyone, to McKesson’s First Quarter Fiscal 2027 Earnings Call. Today, I’m joined by Brian Tyler, our Chair and Chief Executive Officer; along with Kenny Cheung, our Chief Financial Officer. Brian will lead off, followed by Kenny, and then we will move to a question-and-answer session.
Today’s discussion will include forward-looking statements such as forecasts about McKesson’s operations and future results. Please refer to the cautionary statements in today’s earnings release and presentation slides available on our website at investor.mckesson.com and to the Risk Factors section of our most recent annual and periodic SEC filings for additional information concerning risk factors that could cause our actual results to materially differ from those in our forward-looking statements.
Information about non-GAAP financial measures that we will discuss during this webcast, including a reconciliation of those measures to GAAP results, can be found in today’s earnings release and presentation slides. The presentation slides also include
Business
FTSE 100 Slips Slightly at Midday After Morning Rally Fades as Traders Weigh Iran Deal Hopes This Week
LONDON — Britain’s benchmark FTSE 100 index slipped into negative territory by midday Wednesday, giving back an earlier rally as investors weighed a mixed bag of corporate earnings against continued optimism over a potential deal to reopen the Strait of Hormuz to commercial shipping.
The index stood at 10,865.62 as of 12:36 p.m. British Summer Time, down 13.76 points, or 0.13%, from Tuesday’s close of 10,879.38. The FTSE 100 had traded in a range between 10,941.55 and 10,836.86 during the session, reflecting a choppy day of trading that saw the index pull back from stronger early gains.
A Positive Start Fades
Wednesday’s session had opened on a considerably brighter note. Futures had pointed to the FTSE 100 opening roughly 27 to 39 points higher, building on Tuesday’s 0.2% gain, as investors responded to reports that the United States, Iran and Oman were nearing an interim agreement to guarantee safe passage through the Strait of Hormuz for an initial 60-day period. That optimism helped push Brent crude prices lower earlier in the session, easing broader inflation concerns and supporting risk appetite across global markets.
President Donald Trump added to the sense of momentum around the negotiations, saying talks with Iran were going very nicely and that further clarity could come within 48 hours, while separately warning that Iran would be “hit very hard” if the strategically important waterway was not reopened quickly. Qatar, which has served as a key mediator in the broader conflict, confirmed that a specific proposal concerning the strait had been put forward, adding further weight to hopes that a resolution could be close at hand.
That early-session optimism was echoed across global markets overnight, with Wall Street closing at fresh record highs and Asian markets extending the rally into Wednesday’s trading. Japan’s Nikkei 225 closed up 3.7%, China’s Shanghai Composite rose 1.5%, Hong Kong’s Hang Seng added 0.2%, and Australia’s S&P/ASX 200 finished up 0.9%, reflecting broad-based enthusiasm heading into the European trading day.
Mining Stocks and Corporate Earnings in Focus
Despite the index’s slide into negative territory by midday, several individual stocks continued to post strong gains. Mining shares were among the standout performers of the week, with commodities giant Glencore among the leaders after the Swiss-based company said it would pursue a secondary listing of its stock on the Australian Securities Exchange before October, aiming to broaden its access to Australian investors, including major superannuation funds.
Retailer Next PLC also remained in focus following its half-year trading update, in which the company raised its full-year profit forecast to £1.24 billion after posting a 9.2% increase in full-price sales, supported by strong online growth and international demand. The update helped lift Next shares and contributed to broader strength in the FTSE 250, which reached a record high during the session even as the blue-chip FTSE 100 struggled to hold onto its earlier gains.
Insurer Legal & General also drew attention Wednesday, with one long-tenured investor highlighting the company’s 7.17% dividend yield as a standout among FTSE 100 constituents. The company, which oversees more than £1.2 trillion in assets, has increased its dividend by 62.6% over the past decade, with shares up 17.3% over the past year.
A Mixed Session Beneath the Surface
Not every corner of the market fared well Wednesday. Chip designer AMD, though listed in the United States rather than London, offered a cautionary signal for the broader technology and semiconductor sector after posting strong second-quarter results, including data center sales that doubled from a year earlier, only to see its stock slide roughly 9% in after-hours trading as investors reacted to cautious forward guidance. That reaction underscored a pattern seen elsewhere in markets this week, in which strong headline results have not always translated into share price gains when investors focus instead on forward-looking commentary.
Wednesday’s session followed a mixed picture in Tuesday’s trading, when the FTSE 100 had gained around 0.5%, driven largely by strength in mining stocks. Antofagasta led that rally with a gain of more than 3.5%, while Anglo American, Rio Tinto, Glencore and Endeavour Mining each advanced more than 2%, supported by stronger commodity prices. HSBC, the index’s largest constituent, had traded only modestly higher on Tuesday despite reporting better-than-expected earnings and announcing a new $1 billion share buyback program, while BP posted modest gains after delivering quarterly results that exceeded market expectations.
Not all companies fared as well in recent sessions. Smith & Nephew was among the biggest laggards earlier in the week, falling more than 7% after cutting its full-year sales growth forecast, citing temporary weakness in its U.S. orthopaedics business that weighed on second-quarter performance.
A Market Watching Geopolitics Closely
The FTSE 100’s midday pullback comes as global markets continue to closely track developments in the U.S.-Iran standoff, given the direct implications for oil prices and broader economic sentiment. Brent crude had slipped to around $78.86 a barrel earlier in the week amid optimism over the prospective shipping deal, a decline that has generally supported equity markets by easing inflationary pressure tied to energy costs, even as the FTSE 100’s own mining and commodity-linked constituents have shown more mixed reactions to shifting oil price expectations.
With corporate earnings season continuing to generate individual stock moves across the index, and geopolitical developments in the Middle East remaining fluid, traders are likely to continue watching both threads closely in the sessions ahead. Wednesday’s late-morning reversal, from an initially higher open to a slight midday decline, illustrates the degree to which sentiment has remained sensitive to shifting headlines, even as the broader trend across global markets this week has skewed toward record highs and cautious optimism over an eventual de-escalation of the conflict affecting the Strait of Hormuz.
Business
Stray SpaceX Rocket Believed to Have Crashed Into the Moon Near Einstein Crater, Scientists Say This Week
LONDON — A discarded upper stage from a SpaceX Falcon 9 rocket is believed to have slammed into the Moon‘s surface near the Einstein crater early Wednesday, giving planetary scientists an unusual opportunity to study the effects of a high-speed impact whose exact size, speed and location are already known in advance.
The empty rocket stage struck the lunar surface at approximately 7:35 a.m. British Summer Time, or 6:35 a.m. GMT, traveling at roughly 5,400 miles per hour, or about 8,700 kilometers per hour, according to tracking data cited by researchers. The impact occurred in broad daylight across much of the world, meaning the brief flash the collision produced would have been far too faint to see, even for observers using high-end amateur telescopes.
A Predictable Piece of Space Debris
The rocket stage originated from a Falcon 9 launch that lifted off from Florida in January of last year, carrying two lunar landers into space. The mission’s primary objective, successfully sending both landers beyond Earth’s orbit and onto a trajectory toward the Moon, was accomplished at the time. What remained afterward was the spent upper stage itself, a discarded piece of hardware roughly the size of a five-story building and weighing at least 4,000 kilograms, left drifting in a long, looping orbit that repeatedly swung out toward the Moon and back again.
Over the following 18 months, the combined gravitational pull of the Earth, Moon and Sun, along with the faint but persistent pressure of sunlight itself, gradually nudged the object off its original path. Astronomers tracking the derelict rocket stage eventually determined that those small perturbations had placed it on a collision course with the Moon, with its velocity increasing day by day as it approached.
Limited Real-Time Observation
Despite the precision with which scientists were able to predict the time and location of impact, few observers, human or robotic, were positioned to witness the collision as it happened. Spacecraft currently orbiting the Moon were not situated correctly to capture the event live. South Korea’s Danuri orbiter came closest, having passed near the eventual crash site shortly before impact, though its research team has indicated that any footage it captured will only be released once scientists have completed their analysis of the data.
Amateur astronomers observing from locations still in darkness at the time of impact would have had little realistic chance of catching the flash itself, given that any visible light produced likely lasted only a fraction of a second. Some observers may, however, have caught sight of a resulting plume of lunar dust that could have stretched as far as 100 kilometers, or about 62 miles, across the surface and remained visible for several minutes afterward.
Powerful Telescopes Positioned to Capture the Aftermath
The clearest scientific data and the first usable images are expected to come from large observatories located in the Americas, where the sky remained dark at the time of the predicted impact. Even with sophisticated instruments, detecting the effects of a roughly 14-meter object striking the lunar surface from a distance of about 385,000 kilometers presents a significant technical challenge, and researchers have cautioned that processing and verifying the resulting imagery could take anywhere from several hours to multiple weeks.
NASA’s Lunar Reconnaissance Orbiter is expected to be positioned to photograph the impact site within the coming days, allowing scientists to directly compare images of the lunar surface taken before and after the collision, a comparison that should help pinpoint the crater’s exact size and shape once available.
Turning an Accident Into a Controlled Experiment
What might otherwise be dismissed as an unfortunate piece of space debris striking the lunar surface has instead become what researchers describe as a rare scientific opportunity. Because the rocket stage’s exact size, velocity and point of impact were already well understood in advance, the event effectively functions as a controlled experiment rather than a random occurrence, allowing planetary geologists to directly test their existing models of how impacts excavate craters, scatter debris across a surface, and send tremors rippling through a celestial body’s interior.
That data carries practical implications beyond pure scientific curiosity. Understanding precisely how much rock and dust a given impact throws into the surrounding environment could help engineers design safer landing systems and future lunar bases, including calculations for how far flying debris might travel from a landing site and how significantly the ground could shake in the surrounding area. Material excavated from beneath the lunar surface by the impact may also offer fresh geological clues that could add to scientists’ broader understanding of how the Earth-Moon system originally formed roughly 4.5 billion years ago.
Part of a Long History of Lunar Impacts
Wednesday’s collision is far from the first time human-made hardware has struck the Moon. Spacecraft and rocket components have been crashing into the lunar surface since 1959, when the Soviet probe Luna 2 became the first human-made object to reach the Moon, in most cases by accident and in several cases deliberately as part of planned scientific missions. NASA’s Ranger probes carried out similar impacts throughout the 1960s, various Apollo-era rocket stages were later crashed into the surface for research purposes, and the LCROSS mission was deliberately steered into the Moon in 2009 specifically to search for signs of water ice.
The last confirmed accidental lunar impact prior to Wednesday’s event occurred in 2022 and was believed to involve a leftover rocket booster originally launched as part of a Chinese lunar mission back in 2014, a reminder that discarded hardware from decades of space exploration continues to drift unpredictably through cislunar space, occasionally returning to strike the very body many of these missions were originally sent to study.
Business
Earnings call transcript: Kakao posts stronger q2 2026 profit, stock slips

Earnings call transcript: Kakao posts stronger q2 2026 profit, stock slips
Business
Indian Bank raising $400 million in overseas loan; syndication underway
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Student loan repayment rates an ‘unsustainable burden’, chancellor told
Laura Trott, shadow education secretary for the Conservatives, and Munira Wilson, education spokeswoman for the Liberal Democrats, are among MPs who have signed the letter.
Tom Gordon, Liberal Democrat MP for Harrogate and Knaresborough, also signed the letter and told the BBC he could not “see an end in sight” to his own Plan 2 student loan repayments. Instead, he said he expected his debt to be written off after 30 years in line with the repayment terms.
“If someone earning an MP’s salary still isn’t likely to repay their student loan in full, what chance does someone on a much lower income have?” Gordon asked, adding it was “an issue of fairness”.
“Governments have changed the repayment terms and increased interest rates after people had already signed up,” he said.
“No bank or mortgage lender could retrospectively rewrite the terms of a loan like that. It simply wouldn’t be allowed. So why should the government be able to do it?”
Oliver Gardner, founder of Rethink Repayment, said the letter showed “the student loans crisis” was not “a partisan issue”.
“We believe that now is the time to create a system that is fair and that unshackles millions of graduates from mountains of student loan debt,” he said.
A Department for Education spokesperson said: “We know the system we inherited is broken and unfair, and some graduates feel the weight of this more strongly.
“We want to make sure the student loans system works better for everyone and are considering our response to the Treasury Committee’s inquiry.”
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