Sectors: Software
Block reported this morning, and it looks mixed at first glance, which might not be good enough in the current market – the stock initially fell ~7% in late US trading:
Block, Inc. (formerly Square, Inc.) is a fintech company that provides payment processing, banking, and financial services for businesses and individuals. It was founded by Jack Dorsey, Twitter’s co-founder, and Jim McKelvey in 2009.
GOOGL traded down over 7% on Wednesday night following its softer result with the ~1.5% miss on revenue weighing on the tech giant which was testing fresh highs just 24-hours earlier.
SEK slipped only 0.1% but it was noticeable with other tech names enjoying a strong session and the sector gaining a solid +1.6%. This week saw SEK end its attempted takeover of Xref (XF1) after failing to receive the required shareholder support.
Palantir is a major provider of software and technology services to defence agencies. CEO Alex Karp attributed much of the company’s growth to its use of AI.
Hi James and team,
REA will announce its much-awaited half-year result early next month; we remain fans of this business, but not enough to chase it into strength ahead of its looming numbers.
The former Facebook, Meta Platforms closed up +1.5% overnight as investors liked what they heard from META late Wednesday. The tech giant reported fourth-quarter earnings and revenue that beat expectations, with sales surging +21% year over year which drove a +49% increase in earnings; it’s no surprise the tech giant has posted fresh highs this month.
Our XRO position is up over 75%, and like the ASX200, it’s knocking on the door of all-time highs. The online accounting business delivered another solid result in November, showcasing how it is successfully balancing growth with improving earnings.
