2204 GMT - New Zealand's NZX-50 drops 0.5% to 13022 in early trading, led by a fall in church-software company Pushpay after it lowered full-year earnings guidance. Weakness in some heavyweight stocks such as Fisher & Paykel Healthcare and Auckland International Airport also weighs on the index after U.S. stocks ended an eight-session gaining streak. Pushpay slumps 7.0% after it said slower-than-expected growth in 1Q transaction volumes and higher staff costs due to wage inflation pressures were headwinds for its earnings. The company's 1H result kicks off a stream of earnings reports from many NZX-50 companies over the remainder of the month. (stephen.wright@wsj.com)
New Zealand Shares Fall 0.5%, Pushpay Slides -- Market Talk
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