Meta Gains, Shopify Tumbles, and Sysco Slides on Year Revenue Target at Low End of Range

On this episode of Stock Movers:

- Meta (META) shares rise. Meta Platforms Inc. is seeking to raise about $15 billion from the US dollar portion of a cross-border bond sale to fund the artificial intelligence infrastructure buildout.

- Shopify (SHOP) shares drop. Shopify Inc. shares sank after its quarterly revenue missed analysts’ expectations for the first time in four years. That’s the first revenue miss since the second quarter of 2022. Weaker-than-expected subscription solutions revenue weighed on results as merchant solutions, its largest unit, was roughly in line.

- Sysco (SYY) shares drop as much as 6.6%, most intraday since March 30, after the food/products distributor said it now expects full-year revenue growth at the low end of the its prior 6%-to-7% range, reflecting a lower inflation environment for the industry. Its call starts at 10am ET. 

See omnystudio.com/listener for privacy information.