Week in Review: Key Earnings and Economic Trends You Need to Know
Past week witnessed pivotal developments in earnings, market trends, and economic data, shaping the landscape for investors and businesses alike. From notable earnings announcements to major global and economic events, here’s a recap of what mattered most.
Major Earnings Reports:
Below are the key earning reports from the past week.
1. Monday.com (MNDY)
Monday.com reported Q3 revenue of $251.0 million, a 32% year-over-year (YoY) increase, while operating losses widened to -$27.4 million compared to -$2.5 million last year. Net losses stood at -$12.1 million, reflecting increased investment. Despite the solid revenue growth, the stock dropped by 17% post-earnings, reflecting concerns about overvaluation after a 73% year-to-date (YTD) rally. Analysts view the decline as a necessary correction.
Read More: Monday.com Q3 Earning Report & Analysis
2. On Holding (ONON):
On Holding’s Q3 revenue surged by 32% YoY to $635.8 million, driven by direct-to-consumer (DTC) growth (+51%). Operating income rose 25% YoY to $72.6 million, while net profits declined to $30.5 million from $58.7 million last year due to higher investments. The company’s shares remain a favorite among investors, with strong demand signaling confidence in its growth trajectory, especially with revised guidance for $2.58 billion in revenue for 2024.
3. Shopify (SHOP):
Shopify reported Q3 revenue of $2.2 billion (+26% YoY), operating income of $283.0 million (+131% YoY), and net profits of $828.0 million (+15% YoY). Shares remain a strong performer, with the company continuing to outpace expectations. Investors applauded its resilience and growth, driving further confidence in its long-term prospects.
Read More: Shopify Inc (SHOP) Stock Forecast
Notable News and Events:
Below are the major news and events that happened in the past week.
1. Record Crypto Inflows:
Cryptocurrency funds attracted a record $6 billion in weekly inflows, signaling renewed investor confidence in digital assets. Meanwhile, equity funds saw $44.1 billion in inflows, suggesting a broader shift toward risk-on sentiment. This surge reflects optimism about high-growth assets amid evolving market dynamics. Bitcoin’s recent all-time highs and predictions of six-figure valuations further fuel enthusiasm, highlighting crypto’s potential role in diversified portfolios.
Learn More: Is Bitcoin’s Bull Run Signaling a Top in Stock Markets?
2. Consumer Price Index (CPI):
October inflation rose 2.6% YoY, with core inflation (excluding food and energy) up 3.3%. Shelter costs were the primary driver, contributing over half of the monthly CPI increase. Markets responded positively, with stock futures rising and Treasury yields falling as the data aligned with expectations. The Federal Reserve is now more likely to cut rates in December, though uncertainty looms over 2025 policy directions.
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