Stocks Surge as Investors Digest Flurry of Earnings Reports, Keep Tabs on Tariff News; Apple Jumps, AMD Slides

Shopify Stock Soars as Tariff Impact ‘Did Not Materialize’

1 hr 14 min ago

Shares of Shopify (SHOP) jumped 20% Wednesday after the provider of software for e-commerce firms posted better-than-anticipated results, as tariffs failed to have the impact that the company had projected.

The company reported second-quarter earnings per share of $0.69, with revenue rising 31% year-over-year to $2.68 billion. Both exceeded Visible Alpha forecasts.

Gross merchandise value was up more than 30% to $87.84 billion. CFO Jeff Hoffmeister said that both revenue and GMV growth accelerated in the period and were higher in all global markets. Hoffmeister noted Europe “was a particular source of strength, where GMV grew 42% on a constant currency basis.”

Hoffmeister said on the earnings call that Shopify exceeded its own expectations. “We had factored into our guidance some potential impact from tariffs, which did not materialize,” according to a transcript provided by AlphaSense.

Shopify sees current-quarter revenue to increase by mid-to-high-twenties percent, above expectations.

Shares of Shopify, which were leading Nasdaq 100 gainers on Wednesday, have now gained 42% since the start of the year.

–Bill McColl

Supermicro Shares Tumble After Weak Earnings

1 hr 38 min ago

Super Micro Computer (SMCI), shares plunged Wednesday after the server maker reported weaker-than-expected results, as it faced higher costs from tariffs and changes required by a major customer.

The shares were down 20% in recent trading. Still, they’ve added about half of their value in 2025.

Supermicro posted fiscal fourth-quarter adjusted earnings per share of $0.41, down $0.13 from 2024 and below analysts’ estimates compiled by Visible Alpha. The company blamed the decline on tariffs and higher operating costs. Revenue rose 7.5% year-over-year to $5.76 billion, though that was also short of forecasts.

CEO Charles Liang said revenue was lower in June because of “capital constraints that limited our ability to rapidly scale production, and specification changes from a major new customer that delayed revenue recognition because of new added features.” He said those issues have been resolved.

CFO David Weigand noted that operating expenses jumped 22.6% to $315.7 million on higher compensation payments and headcount.

The company said it sees first-quarter adjusted EPS in the range of $0.40 to $0.52, while analysts had called for $0.60. 

–Bill McColl

Snap Stock Plunges as Ad Platform Issues Hit Results

3 hr 4 min ago

Snap (SNAP) shares plummeted Wednesday, a day after the operator of the Snapchat social media site posted a higher net loss and adjusted earnings missed forecasts as it dealt with an ad platform glitch.

The company reported a net loss of $262.6 million, 6% more than a year ago, and GAAP loss per share of $0.16 was also more than anticipated by analysts surveyed by Visible Alpha. Adjusted EBITDA slumped 25% to $41.3 million, well below the Visible Alpha estimates, while revenue of $1.34 billion was basically in line with expectations.

Daily active users increased 9% to 469 million. However, average revenue per user of $2.87 was just $0.01 higher than in 2024, and was down $0.09 from the first quarter. Total costs and expenses jumped nearly 8% year-over-year to $1.60 billion.

In a letter to shareholders, CEO Evan Spiegel wrote that revenue growth was “impacted by a number of factors in Q2, including an issue related to our ad platform,” which he explained happened because “in our efforts to improve advertiser performance, we shipped a change that caused some campaigns to clear the auction at substantially reduced prices.”

Spiegel said that revenue was also hurt by the timing of the Muslim holy month of Ramadan, along with the Trump administration’s changes to tax rules for purchases of lower-priced imported products.

Shares of Snap were down 20% recently and have lost about a third of their value this year.

–Bill McColl

Futures Point to Slightly Higher Open for Major Indexes

4 hr 48 min ago

Futures tied to the Dow Jones Industrial Average were up 0.3%.

S&P 500 futures rose 0.1%.

Nasdaq 100 futures also tacked on 0.1%.