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☆ In Shopify's app store, 'people are fighting it out on the margins' as the market becomes oversaturated and merchants cut costs
▼ + stars: | 2024-02-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +10 min

Its S-1 filing mentions the word "Shopify" 198 times, and it said that about 77.6% of its annual recurring revenue came from Shopify merchants. About a third of the deals FE International facilitates are for businesses within the Shopify ecosystem, Smale said. Smale said that lately, he has worked with a "wider variety of acquirers" quietly looking to scoop up Shopify apps. He said that Shopify apps make good acquisition targets because they tend to be profitable and not venture-backed. "I always say Shopify SaaS applications are so great to build because they're kind of like building a SaaS on training wheels," Gazdecki said.

Persons: Shopify, Rachael Jones, Brent Murri, They've, Murri, Andrew Bialecki, Klaviyo, Dennis Hegstad, there's, Hegstad, Andy Cloyd, it's, We're, Thomas Smale, Smale, Andrew Gazdecki, Acquire.com, Gazdecki, Tobi Lütke, Lucas Jackson, wouldn't Organizations: Shopify's, Business, Boston Globe, FE International, Reuters Locations: Shopify, Klaviyo

☆ Apple fans in China can't buy the Vision Pro yet, so they're lining up to rent it by the hour or day
▼ + stars: | 2024-02-28 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

Read previewPeople living in China are eager to try out the Apple Vision Pro before it launches in the country — and some are lining up to rent the headsets from third-parties, the South China Morning Post reported. It's unclear how Chinese third-party vendors get their Apple Vision Pros. AdvertisementFor people interested in enjoying some time with a Vision Pro in their own home, however, third-party vendors aren't just leasing the headsets in China. Photography equipment rental companies like Lensrentals and ShareGrid appear to be offering their own Apple headset rentals starting at $120 a day. Are you using the Apple Vision Pro in an interesting way?

Persons: —, Zhuan, SCMP, Tim Cook, hasn't, Apple didn't, Aaron Mok Organizations: Service, Apple Vision, China Morning Post, Business, VR, South China Morning, Apple Locations: China, Beijing, amok@insider.com

☆ Jim Cramer's quick thoughts on cybersecurity stocks, Disney, and our portfolio off-price retail name
▼ + stars: | 2024-02-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Ernie Herman, Macy's, TJX, Nordstrom, Cramer, UnitedHealth, Linde, Jim Cramer's, Jim Organizations: CNBC, Consumer, Communication Services, Health Care, Tech, TJX Companies, Target, Palo Alto Networks, Disney, ESPN, Apple, Paramount, Anheuser, Busch, Jim Cramer's Charitable Locations: Maxx, Palo Alto, India

☆ How America’s once great department stores became a dying breed
▼ + stars: | 2024-02-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

But department stores, focused on America’s middle class, are fading. The victims of shifting consumer tastes were not the department stores that anchored the local mall, it was the small, locally owned stores along downtown shopping districts that were closing their doors. And possibly even more than the big box competitors, department stores have suffered from consumers shifting to buying items online rather than in person. The steady closing of the department stores that once served as “anchors” of malls across suburban America has been another nail in the coffin of many malls, hurting the department stores that remained in hollowed-out malls with a fraction of their earlier traffic. Saunders said one of the primary problem for Macy’s is that its holding company, formerly known as Federated Department Stores, spent much of its resources on buying other department store brands, such May’s Department Stores, and Filene’s, rather than investing in the stores its held.

Persons: New York CNN —, Neil Sauders, ”, JC Penney, It’s, “, Neil Saunders, Shannon Stapleton, Saunders, ” Saunders, Al Bello, Sunny Zheng, Macy’s, Tony Spring, Taylor, Brian Snyder, Eddie Lambert, Michael Brown, Kearney, ” Brown, Mike Segar, Richard W, Sears, Alvah Roebuck, Sears Roebuck, Bettmann, PhotoQuest, Jack Manning, Frank Scherschel, Owen, Lucille Jagusch, Arlene Hardt, Martin Luther King Jr, Michael Ochs, Ron Frehm, Ralf, Finn Hestoft, Mark Peterson, Seth Meyers, Hugh Jackman, NBCUniversal, Kaylin Wilson, Jim Cole, Rene Johnston, Maria Alejandra Cardona, Scott Olson, Cesar Villasenor, Mel Melcon, Sarah Blesener, Paul Hennessy, Patti Naleck, Naleck, Stacey Wescott, Brown Organizations: New, New York CNN, American, Walmart, Company, Department, Sears, Target, GlobalData, JCPenney, Research, RadioShack, Reuters Sears, Federated Department Stores, May’s, Reuters, Chicago History, Sears Roebuck, Roebuck, Hulton, AP, AP Soldiers, Michael Ochs Archives, Getty, Bettmann, Kmart, Bloomberg, Toronto Star, Reuters Residents, Los Angeles Times, New York Times, Chicago Tribune, Tribune, Service Locations: New York, GlobalData, America, Nanuet , New York, North Redwood , Minnesota, Chicago, El Paso , Texas, Jackson , Mississippi, Tucson , Arizona, Caracas, Venezuela, Niles , Illinois, Morton Grove , Illinois, Baltimore, White Plains , New York, Woodfield , Illinois, Hicksville , New York, Nashua , New Hampshire, Mentor , Ohio, Mississauga , Ontario, Hialeah , Florida, Janesville , Wisconsin, Santa Monica , California, Rockaway , New Jersey, Leesburg , Florida, Schaumburg , Illinois

☆ ‘Shōgun’ review: FX’s 10-part series might be the TV program of the year (again)
▼ + stars: | 2024-02-26 | by ( Brian Lowry | ) edition.cnn.com time to read: +4 min

CNN —In the early heyday of miniseries, “Shōgun” was the show of the year in 1980, and it might be again 44 years later. That chaos also creates the possibility of one regent emerging to consolidate power, and perhaps even gain the title of shōgun. Of course, in today’s heavily fragmented streaming environment “Shōgun” won’t be the massive ratings hit that it was back when there were three broadcast networks (and not much else), but those who wade into this dense history will be amply rewarded. “All men can be broken,” Toranaga muses at one point, with a quiet sense of menace and determination. If only all limited series could be half as good as “Shōgun.”“Shōgun” premieres February 27 on Hulu and at 10 p..m. ET the same day on FX.

Persons: Shōgun ”, James Clavell’s, John Blackthorne, Cosmo Jarvis, –, ” Blackthorne, Toranaga, Hiroyuki Sanada, “ John Wick, shōgun, Eager, Mariko, Anna Sawai, Buntaro, Shinnosuke Abe, Blackthorne, Richard Chamberlain, King, “ Shōgun ”, Sean Connery, Jarvis, Ishido, Hira, ”, Michael Clavell, won’t, ” Toranaga Organizations: CNN, of Regents, Apple’s, NBC, Hulu Locations: Japan, ”, “

☆ Analysis: While eyes are on Trump, Supreme Court conservatives prepare to rewrite the rulebook
▼ + stars: | 2024-02-23 | by ( Joan Biskupic | ) edition.cnn.com time to read: +10 min

Supreme Court conservatives are accelerating their moves to overhaul the way the federal government protects Americans, whether from air pollution or unfair financial practices. The case has determined a swath of court judgments on agency policy, well beyond the environmental realms, and become one of the most cited rulings in Supreme Court history. The Corner Post is protesting a Federal Reserve rule adopted in 2011 that caps debit card fees merchants obtain with every transaction. Three Republican-led states and power industry groups turned to the high court, seeking immediate relief and asking that any implementation be barred. Kagan focused on the multiple preliminary issues that lower court judges would have typically assessed before the case reached the justices.

Persons: Donald Trump, won’t, Elena Kagan, Let’s, Trump, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett, Barrett, Kagan, Benjamin Snyder, Chevron, Gorsuch, ”, ” Gorsuch, John Roberts, Snyder, “, Ketanji Brown Jackson, Bryan Weir, ” Weir, Honig, Roberts, Malcolm Stewart, ” Jackson, Mathura, ” Sridharan, Jackson, Sonia Sotomayor, Catherine Stetson, it’s Organizations: CNN, Securities, Exchange Commission, Food, Chevron, Natural Resources Defense Council, Department, Federal, ”, Federal Reserve, ” Liberal, Corner Post, Liberal, DC Circuit, Republican, EPA Locations: Washington, American, North Dakota, “, Ohio

☆ Premarket stocks: Is Nvidia too big to fail?
▼ + stars: | 2024-02-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors expect Nvidia to report earnings of $4.59 a share and $20.378 billion in revenue, up from just $6.05 billion a year before. Too big to fail: For the time being, Nvidia is the “most sophisticated and deployed” chipmaker in the world, and its output is one of national importance, said Newman. Capital One wants to be the biggest credit card company in America. If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.

Persons: “, ”, Daniel Newman, Newman, Jensen Huang, ” What’s, Sam Altman, Pat Gelsinger, Elisabeth Buchwald, Biden, Richard Fairbank, Fairbank, Samantha Delouya, Dow, Dow hasn’t Organizations: CNN Business, Bell, New York CNN, Nvidia, Wall, Microsoft, Apple, Investors, Intel, AMD, Discover Financial Services, Capital, Discover, Mastercard, Consumer Financial, Bureau, Walgreens, Dow Jones, Alliance, Dow Jones Industrial, Dow Jones Indices, Dow, Tesla Locations: New York, California, United States, China, Dubai, America

"I'm thinking about marketing myself as a TikTok Shop creator," Jayy told BI in July. Outside its in-house team, TikTok also deputizes official third-party TikTok Shop agency partners to work with creators and merchants on e-commerce strategies. And the company offers advice to all affiliate creators on its website via its TikTok Shop Academy. Someone who is not popular or famous going on TikTok Shop and offering products, or someone who is very popular and famous now getting products?" "I think the shortest path to more volume through TikTok Shop is really that second group."

Persons: D'Amelio, TikTok, Remy Beaumont, it's, Joy Mangano, Beaumont, playbook, Rick Watson, Sharon Jayy, Jayy, Watson Organizations: Business, Shop, Z Media, intel, Training, RMW Commerce Consulting, TikTok Shop, Shop Academy Locations: London, China, Douyin, TikTok's Culver

☆ Here's why Capital One is buying Discover in the biggest proposed merger of 2024
▼ + stars: | 2024-02-21 | by ( Hugh Son | ) www.cnbc.com time to read: +5 min

It's a chess move by one of the savviest long-term thinkers in American finance, Capital One CEO Richard Fairbank. Fairbank, who became a billionaire by building Capital One into a credit card giant since its 1994 IPO, is betting that buying rival card company Discover will better position the company for global payments' murky future. The deal, if approved, enables Capital One to leapfrog JPMorgan as the biggest credit card company by loans, and solidifies its position as the third largest by purchase volume. By 2027, the bank expects to add at least $175 billion in payments and 25 million of its cardholders onto the Discover network. The Discover network alone would be worth up to $6 billion if sold to Alphabet, Apple or Fiserv , Sakhrani wrote Tuesday in a research note.

Persons: Richard Fairbank, Marvin Joseph, It's, Fairbank, Sanjay Sakhrani, Sakhrani Organizations: Washington Post, Getty, Capital, Discover Financial, U.S, JPMorgan Chase, Independence, Discover, JPMorgan, Visa, Mastercard, American Express, One's, PayPal Locations: Wall, U.S

☆ Consovoy McCarthy: This small, conservative law firm is landing big wins at the Supreme Court
▼ + stars: | 2024-02-20 | by ( John Fritze | ) edition.cnn.com time to read: +4 min

Created a decade ago by two former law school classmates who gave up their jobs at larger practices, the lawyers at Consovoy McCarthy have argued 11 appeals at the Supreme Court in that time – including a landmark case last year that ended affirmative action in college admissions. Bryan Weir, in his debut appearance at the Supreme Court, will argue the clock starts on the statute of limitations when a plaintiff – in this case, the truck stop – is affected. But perhaps the most notable recent issue Consovoy McCarthy brought before the Supreme Court consisted of two appeals challenging the consideration of race in admissions at Harvard and the University of North Carolina. Longtime anti-affirmative action advocate Edward Blum hired Consovoy McCarthy to argue that they violated the equal protection clause included in the 14th Amendment. The firm also has an appeal pending at the Supreme Court challenging a so-called bias response team at Virginia Tech.

Persons: Consovoy McCarthy, Donald Trump’s, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett, Clarence Thomas, Bryan Weir, Biden, “, Thomas McCarthy, Weir, McCarthy, ”, Joe Biden’s, Supporters, Edward Blum, Blum, David Lat, Trump, Lat Organizations: CNN, Supreme, US, Appeals, Trump, Harvard, University of North, Longtime, Virginia Tech Locations: North Dakota, University of North Carolina, Idaho

☆ America is on the cusp of a new biggest credit card company. Here’s what it means for you
▼ + stars: | 2024-02-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Discover cards are already accepted at 99% of all US merchants that allow customers to make credit card purchases, according to the company. Credit card networks are the liaison between card issuers and merchants, for whom they set fees. If Capital One flips all its credit cards to Discover, Mastercard would stand to lose a quarter of its US credit card volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.

Persons: New York CNN —, Biden, Richard Fairbank, Fairbank, JPMorgan Chase, Andrew Harrer, Democratic Sen, Elizabeth Warren, Jaret, Cowen Organizations: New, New York CNN, Discover Financial Services, Capital, Discover, Mastercard, Visa, US, American Express, JPMorgan, Bank of America, Citigroup, Bloomberg, Getty, Consumer Financial, ”, Democratic Locations: New York, Mastercard’s, Visa’s

Capital One plans to acquire Discover in an all-stock deal valued at $35.3 billion, pending approval. On Monday, Capital One Financial announced its plans to buy Discover Financial Services. Here's what you need to know about the deal and what it could mean for current Capital One and Discover customers. Capital One credit cards are part of the Visa and Mastercard credit card networks. The Wall Street Journal reports that Capital One is planning to switch some of its credit cards to the Discover network.

Persons: —, Simon Blanchard, Alvin Carlos Organizations: Discover, Service, Financial, Discover Financial Services, Capital, Visa, Mastercard, Georgetown University's McDonough School of Business, Street Journal, CFA, CFP, District Capital Management

☆ Capital One is buying Discover in a $35.3 billion deal
▼ + stars: | 2024-02-19 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Capital One announced it’s acquiring Discover Financial Services for $35.3 billion in an all-stock deal, giving the bank a leg up in the competitive credit card market. Under the terms of the deal announced Monday evening, Discover (DFS) shareholders will receive a little over one share of Capital One (COF) for every Discover share they own. If the deal is finalized, current Capital One shareholders will own a 60% stake in the combined company, while Discover shareholders will own the remaining 40%. Credit card networks are the liaison between card issuers and merchants, for whom they set fees. Currently, Capital One issues credit cards with Mastercard, Visa and Discover.

Persons: JPMorgan Chase, Richard Fairbank Organizations: New, New York CNN, Capital, Discover Financial Services, Discover, US, Visa, Mastercard, American Express, JPMorgan, Bank of America, Citigroup, Wall Street Journal Locations: New York

☆ Morocco's hashish dealers boycott Israeli traffickers in solidarity with Gaza, says report
▼ + stars: | 2024-02-17 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +4 min

Dealers of highly-prized Moroccan hashish are severing ties with Israeli drug smugglers. They are boycotting Israeli dealers in protest at the killing of Palestinians in Gaza, said a report. AdvertisementMoroccan hashish dealers are severing ties with Israeli drug smugglers amid the ongoing war in Gaza, per a report in Israeli media. "The hashish dealers in Morocco are not willing to sell us more hashish either directly or through intermediaries," a drug offender from Sharon told Mako , an Israeli news portal, reports. The Moroccan hashish boycott echoes the Palestinian-led Boycott, Divestment, Sanctions (BDS) movement.

Persons: —, Sharon, Mako, siad, Abu Mustafa, Merchants Organizations: Service, Cannabis Museum, Hamas, REUTERS, IDF Locations: Gaza, Morocco, Israeli, Amsterdam, Israel, Gaza City, Moroccan

Retail sales fell by 0.8% last month, far worse than expected, as consumers pulled back from their holiday spending and amid rising inflation and higher credit costs, the Census Bureau reported on Thursday. While overall retail trade sales declined, nonstore retailers were up 6.4 percent from last year. And consumers continued to spend on eating out, with food services and drinking places up 6.3% from a year ago. In January, retail sales rose by 2.34% from a year ago, according to the NRF/CNBC Retail Monitor powered by credit card tracking firm Affinity Solutions, but sales were down by 0.16% from December’s strong performance. “Notably, consumers are feeling strained by higher prices at the grocery store and beyond,” Patel said.

Persons: Jeffrey Roach, ”, Jonathan Silver, Piyush Patel, “, ” Patel, – Organizations: Census, Federal, LPL, CNBC Retail Monitor, Affinity Solutions, Affinity, Federal Reserve Bank of New Locations: Federal Reserve Bank of New York

☆ TikTok is pissing everyone off right now. Here's how its brute-force tactics could pay off — or backfire.
▼ + stars: | 2024-02-15 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The move was an about-face for the president, whose administration had spent years calling it a national security risk. AdvertisementIt’s been deep in a public spat over music licensing with one of its most important partners, Universal Music Group. Some users have said it’s ruining the app by promoting shopping over the funny skits and dancing videos that first made TikTok popular. For leaders at ByteDance, who often have the final say over product decisions at TikTok, copying ideas from Douyin to TikTok is part of their playbook.

Persons: —, TikTok, Joe Biden, Biden, Brandon, TikTok isn’t, it's, Taylor Swift, Olivia Rodrigo, UMG, ” TikTok, it’s, TikTok's, ByteDance, It’s, Meghana, Pissing, ” Michael Huppe, Katie Notopoulos, ” Dhar Organizations: Service, White, Business, Universal Music Group, Music, Black, Facebook, Google, Big Tech, ”, YouTube, Shopping Network Locations: TikTok, Washington, Meghana Dhar, China, ByteDance

☆ Shopify's new price hikes could put pressure on its app developer ecosystem
▼ + stars: | 2024-02-14 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

The price hike comes a year after Shopify raised prices for its base subscription plan. Many have shrugged off the most recent price increase. Shopify frequently touts its third-party app ecosystem as an advantage for merchants looking to grow their business efficiently. Many of the most popular Shopify apps have also raised prices recently. It's possible that some lower-volume Plus merchants will downgrade to more basic subscription options due to cost.

Persons: —, Shopify, Andy Cloyd, Stephen Watson, Cloyd, ” Erman Küplü, Küplü, ” Watson, Jeff Hoffmeister, Hoffmeister Organizations: Service, Merchants, Business, Elysian Solutions, BI Locations: GMV, North America, mstone@insider.com

☆ Shopify President says international business is a 'massive area of growth'
▼ + stars: | 2024-02-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Shopify President Harley Finkelstein told CNBC's Jim Cramer on Tuesday how the e-commerce platform is bolstering its global business. "International is a massive area of growth for us," Finkelstein said. Shopify has also expanded its customer base beyond smaller merchants, serving brands such as Everlane, Nike Strength and Oscar de la Renta, he added. The company is also focused on business-to-business sales, working with wholesalers such as HVAC outfit Carrier . Shopify reported quarterly earnings before Tuesday's open, beating Wall Street's expectations but sending shares down due to mixed guidance for the current period.

Persons: Harley Finkelstein, CNBC's Jim Cramer, Finkelstein, Shopify, Oscar de la Organizations: Suntory, Nike Locations: Swedish, Shopify

☆ Temu is trying to win over America. Good luck.
▼ + stars: | 2024-02-13 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

During the game’s commercial breaks, Temu managed to grab several 30-second ad slots estimated to cost $7 million each . Temu is spreading across AmericaSigns so far suggest US consumers are buying the Temu hype. AdvertisementResults published this month from a survey of around 600 consumers, carried out by investment bank Jefferies, found that almost one in three, or 31%, had used Temu. Temu lacks US-based apparel brands, the bank said, making online window shopping on the site less appealing to Americans, for now. That said, Temu looks ready to put its all into America.

Persons: —, Taylor, Travis Kelce, didn’t, Temu, Shein, Jefferies, TikTok Organizations: Service, Super, Business, Bernstein Research, Bowl, Jefferies, Amazon, Bloomberg Locations: Tokyo, China, America, Europe, Beijing

Several technology and travel companies are reporting earnings this week — and some of them are likely to see dramatic moves when they do. CNBC Pro screened for stocks that may post sharp moves after releasing their quarterly results, based on calculations from FactSet data. Here are some other stocks that may notch the biggest moves after their announcements this week. Swedish oat milk maker Oatly could move up or down about 17% after its earnings results, which are also slated to come out Thursday. OTLY 1Y mountain Oatly shares Restaurant software platform Toast may also see either a gain or loss of more than 11% following its earnings release Thursday.

Persons: Kraft Heinz, Carvel, Toast Organizations: Bank of America, CNBC Pro, Cisco Systems, Sony, U.S, Oatly Locations: U.S

☆ The big business of the Super Bowl, from competing advertisers to the ultrawealthy networking
▼ + stars: | 2024-02-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the big business of the Super Bowl, from advertisers to the ultraweal thy . Developing and filming a Super Bowl ad typically runs 50% to 60% more than a regular one. AdvertisementFor some first-time Super Bowl advertisers, the commercial is a jumping-off point for a bigger campaign, writes BI’s Lauren Johnson. The Super Bowl is also a calendar staple for the ultrawealthy, writes BI’s Madeline Berg. A record 68 million Americans are projected to bet $23.1 billion on the Super Bowl, according to the American Gaming Association.

Persons: —, Taylor Swift, Travis Kelce, Patrick Smith, Emily Stewart, that’s, Ryan Joe, Lara O’Reilly, Ryan, BI’s Lauren Johnson, RYU, BI’s Madeline Berg, Elon Musk, Rupert Murdoch —, VistaJet, BI’s Taylor Rains, Grace Kay, it’s, BI’s Juliana Kaplan, Cork Gaines, Usher, David Rosenberg, Quants, Getty, David Butow Here’s, Tesla, Sissie Hsiao, Bard, Gemini, Uber, Dara Khosrowshahi, Lucas Jackson, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ign, Super, Elon, Private, American Gaming Association, San Francisco 49ers, Kansas City Chiefs, Renaissance Technologies, Man, AHL, UBS, Google, Reuters, Merchants, Conference, PepsiCo Locations: Sun Valley, YOLO, New York, London

☆ Shopify Fulfillment Network is back — sort of. Here's why it's different this time around.
▼ + stars: | 2024-02-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

The new app has a familiar name: Shopify Fulfillment Network. With the new Shopify Fulfillment Network , merchants can sign up to use Flexport's services through Shopify's app. The newly named Shopify Fulfillment Network is not merchants' only option for fulfillment. Wong said the company had also indicated Flexport would not be the exclusive provider for Shopify Fulfillment Network. "They've definitely given themselves more choices than there were before when it was just Shopify Fulfillment Network or bust," he said.

Persons: Shopify, Tobi Lütke, Oppenheimer, Ken Wong, Wong, It's, Flexport, They've Organizations: Shopify Logistics, Business, Shopify, Flexport, Amazon Locations: Flexport, mlstone@protonmail.com

☆ Shopify is launching an ad product that takes a page from Meta's playbook
▼ + stars: | 2024-02-08 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

Shopify quietly announced a program last week where it will buy Google and Meta ads on behalf of its merchants. This new program, called Shop Campaigns, is the first time Shopify is providing full marketing services for its merchants. However, Shopify Audiences is only available to Shopify's large enterprise merchants to help supplement their existing ad campaigns. Shopify claims that Shop Campaigns have helped brands like Thrive Cosmetics and Caraway acquire more than 1 million customers. He compared Shopify Campaign to Meta's now defunct Audience Network, where Meta placed ads on publishers' websites outside of Meta.

Persons: Shopify, Baranauskas, —, Glen Coates, James Borow, spender, Meta, They're, Borow, Mike Ryan Organizations: Google, Meta, Business, Audience Network, Facebook Locations: adtech, Meta, Shopify

☆ Exclusive: Shopify rolls out another huge price hike for merchants
▼ + stars: | 2024-02-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +2 min

The change comes one year after Shopify raised prices for its base subscription plan. Wall Street analysts have since been looking for the company to raise prices for Plus, which is geared toward larger merchants. The price change is a 25% increase. A Plus subscription gives merchants access to more features and services, like Shopify's B2B tools and its customer-acquisition product Shopify Audiences. At the time of publishing, Shopify's stock is up 3% to around $88 compared to an opening price of $85.

Persons: —, Shopify Organizations: Service, Business, Wall Street, Merchants, Shopify, BI Locations: mstone@businessinsider.com

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Target, Amazon, Quest, Deckers, Alphabet & more
▼ + stars: | 2024-02-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Jefferies initiates Sprout Social as buy Jefferies said the social media software provider is a market leader. Morgan Stanley names Huntington Bancshares a top pick Morgan Stanley said it likes the regional bank's low exposure to commercial real estate. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on Nvidia to $750 per share from $603. Morgan Stanley downgrades Aptiv to underweight from equal weight Morgan Stanley said it sees slowing growth for the automotic tech company. Jefferies initiates ZoomInfo as buy Jefferies initiates the software data company with a buy and says it sees new customer growth.

Persons: Redburn, Key, it's, Gordon, Gordon Haskett, Jefferies, Steven Madden, Morgan Stanley, Huntington, Morgan Stanley downgrades Aptiv, Piper Sandler, Piper, Davidson, Goldman Sachs, Goldman, DA Davidson, it's bullish, Oppenheimer Organizations: Services, Bank of America, Google, Leerink, SPT, Citi, JPMorgan downgrades New York Community Bancorp, JPMorgan, Jefferies, Nvidia, Crown Holdings, Holdings, Civitas Resources, Corp, Vans, VF Corp, Bank of America downgrades, York Community Bancorp, New, Apple, Apple's Locations: F24E, New York

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