US Stock Market Move | Q1 profit guidance fell short of expectations, Shopify (SHOP.US) dropped more than 10% in pre-market trading.

On Tuesday, Shopify (SHOP.US) fell in pre-market trading, dropping more than 10% at one point, but the decline has now narrowed to 0.75%, trading at $119.06. In terms of news, the company reported fourth quarter revenue of $2.81 billion, exceeding estimates of $2.73 billion; Shopify expects first quarter revenue to grow at a rate of around 25%; the company forecasts the gross profit growth rate for 2025 to be at the lower end of the 20% range.