Market Signal Briefing

Asset manager VanEck backed away from its earlier plans to stake assets in its proposed spot BNB exchange-traded fund, despite offering staking in its recently launched Solana product.

In its updated S-1 filing to the US Securities and Exchange Commission (SEC) on Friday, VanEck said “the Trust will not employ its BNB in Staking Activities and accordingly will not earn any form of staking rewards or income of any kind from Staking Activities” at the time of listing. The filing further warns that “there can be no assurance that the Trust will engage in any Staking Activities” in the future, either.

The company acknowledged that avoiding staking could cause the ETF’s performance to lag that of holding BNB (BNB) directly, noting that investors would forgo potential staking rewards.

This follows VanEck filing for a spot BNB exchange-traded fund (ETF) in May. The filing noted at the time that it “may, from time to time, stake a portion of the assets through one or more trusted staking providers.” Earlier this month, VanEck also launched the US’s third Solana (SOL) ETF, offering staking yields.

VanEck’s BNB ETF S1 filing. Source: SECVanEck hints at BNB’s regulatory woesIn its updated filing, VanEck distanced itself from any potential staking efforts and stated that it would be implemented through one or more third-party “Staking Services Providers.” Furthermore, the company clearly stated that there was no guarantee that any staking with ETF assets would ever take place, and if they were to engage in such activity, they would first file a prospectus with the SEC.

“The Trust is not permitted to engage in Staking Activities, which could negatively affect the value of the Shares.”Still, the filing fails to clearly state the rationale for its cautious approach to BNB staking, but it hints at concerns regarding regulatory troubles. A section of the filing clearly states that a determination by the SEC that BNB is a security may adversely affect the value of the shares and the termination of the trust.

“The test for determining whether a particular digital asset is a ‘security’ is complex and difficult to apply, and the outcome is difficult to predict,” VanEck said. The fund manager “acknowledges that BNB may currently be a security, based on the facts as they exist today, or may in the future be found by the SEC or a federal court to be a security.”

In such a case, VanEck may dissolve the ETF — either of its own volition by autonomously determining that BNB is a security or after the SEC or a federal court concludes that it is. “For so long as the Sponsor believes there to be good faith grounds to conclude that the Trust’s BNB is not a security, the Sponsor does not intend to dissolve the Trust on the basis that BNB could at some future point be determined to be a security,” the filing said.

BNB’s past brushes with the SECAs VanEck pointed out, in 2023, the SEC filed lawsuits against crypto exchange Binance, its US-based competitor, Coinbase, and Kraken for facilitating the trading of unregistered securities. The regulator deemed 68 digital assets to be securities at the time, including BNB. Still, in early July last year, a US federal court found that secondary sales of the BNB token did not constitute security transactions.

Whether staking and cryptocurrencies that employ it fall under securities law has been subject to intense debate. Back in late May, the SEC’s Division of Corporation Finance said in a statement that “Protocol Staking Activities” such as crypto staked in a proof-of-stake blockchain, “don’t need to register with the Commission transactions under the Securities Act,” or fall within “one of the Securities Act’s exemptions from registration.”

Still, this did not settle the debate. At the time, Caroline Crenshaw was the sole commissioner who opposed the guidance, saying it “fails to deliver a reliable roadmap for determining whether a staking service” is an investment contract under securities laws.

Magazine: Ethereum’s Fusaka fork explained for dummies: What the hell is PeerDAS?

XRP’s long-awaited ETF debut has delivered a stronger-than-expected first push, with the four newly listed funds generating $85.7 million in opening-day trading volume. The inflows are already reshaping intraday price behavior—even as XRP price hovers in a tight technical range and tests a critical support zone.

Bitwise led convincingly with $36.6M, Franklin Templeton followed at $23.6M, Canary posted $18.7M, and Grayscale trailed at $6.7M, signaling an early demand imbalance that traders will be watching closely through the week.

XRP Price Analysis: Support Holds, but Breakout Requires a Key TriggerOn the charts, XRP continues to respect the micro-support band around $1.9, bouncing precisely from the 38.2% Fibonacci retracement at $2.22. This level remains the immediate demand zone, preventing deeper downside.

For the bullish structure to stay intact, XRP must continue printing higher lows above $2.27–$2.18. So far, price action remains constructive, but momentum is capped below the $2.69–$2.84 resistance, which is the key breakout trigger for a trend reversal.

A daily close above this range would shift the medium-term outlook decisively bullish and open the path toward higher Fibonacci targets.

XRP ETF Demand Strengthens as Volume Hits $85.7MIn the past 24 hours, XRP ETFs have generated $85.7 million in combined trading volume, marking one of the strongest openings for a newly listed crypto fund group. Bitwise led decisively with $36.6M, followed by Franklin Templeton at $23.6M, Canary at $18.7M, and Grayscale trailing at $6.7M. 

This early distribution highlights concentrated institutional confidence in Bitwise’s product. Intraday flow shows clear strength during U.S. ETF trading hours, suggesting these vehicles are increasingly shaping XRP’s liquidity profile. If demand holds through the week, ETF momentum could act as the catalyst for a broader breakout—especially if price moves closer to the key $2.69–$2.84 resistance zone.

ConclusionXRP is holding its ground at a crucial support zone while ETF-driven interest injects steady liquidity into the market. The first day’s $85.7M volume signals that institutional curiosity is stronger than sentiment suggests.

All eyes now turn to the $2.69–$2.84 resistance. A breakout above this zone would confirm a shift in the trend and potentially accelerate XRP toward a new medium-term rally.

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Solana Digital Asset Treasury (DAT) DeFi Development Corp. (DFDV) expressed its support for a sweeping proposal aimed at accelerating the network’s disinflation schedule. 

On Tuesday, DFDV became the first Solana treasury to publicly endorse Solana Improvement Document (SIMD)-0411, a proposal to double Solana's annual disinflation rate from 15% to 30%, thereby reducing projected future emissions by over 22 million SOL over the next six years. 

“This proposal may come as a surprise to some, but its timing makes sense,” DFDV wrote. “The ecosystem has grown increasingly vocal about Solana’s current inflation schedule and its impact on SOL’s price.” 

Solana Strategic Reserve data shows that DFDV holds nearly 2.2 million Solana (SOL), worth about $300 million at the time of writing. This makes the company the third-largest corporate holder of SOL tokens. 

While DFDV’s support adds institutional weight to the high-stakes discussion, other DATs, such as Forward Industries or Solana Company, haven’t weighed in on the topic. 

Source: Mert MumtazProposal seeks to accelerate Solana disinflationHelius Labs developers introduced SIMD-0411 on Saturday, marking one of the most significant monetary policy proposals for Solana since its launch. 

The draft recommends doubling Solana’s annual disinflation rate from 15% to 30%, which would bring the network to its long-standing 1.5% terminal inflation rate in just three years rather than six. 

Proposal seeks to speed up Solana disinflation. Source: GitHubAccording to the modeling shared in the proposal, the change would reduce projected emissions by about 22 million SOL tokens, equivalent to about $3 billion, over a six-year period. 

The developers said that the existing inflation curve no longer reflected the network’s maturity, pointing toward network revenue, user activity and decentralized finance (DeFi) throughput. 

By trimming the issuance, proponents said that the network could reduce structural sell pressure and align it more closely with what institutional investors expect from a modern crypto asset. 

Solana price slide puts pressure on DATsCoinGecko data shows that SOL fell from $197 on Oct. 26 to $136 at the time of writing, a 30% decline in the past month. The sharp downturn added urgency to the inflation debate, with some of the top corporate holders sitting on heavy losses. 

According to CoinGecko, Forward Industries, the largest corporate SOL holder, faces an unrealized loss of about $646.6 million, representing a 41% decline from its aggregate purchase price.

Upexi, the fifth-largest corporate holder, also sits in the red, with about $31 million in unrealized losses, marking a 10% decline from its entry prices. 

DFDV, which publicly endorsed the proposal, is still in profit. CoinGecko data showed that the company remained up by about $62 million, reflecting a 26.6% unrealized gain on its SOL purchases to date.

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XRP just had a monster day, jumping over 9% to $2.21 after Franklin Templeton and Grayscale both launched spot XRP ETFs on Monday.

Metaplanet announced another $130M loan, with the potential to acquire more BTC. The loan is backed by Metaplanet's treasury, and is part of a $500M facility, of which the company has borrowed $230M to date.

TL;DR:

Monad’s MON token launched with 10% of total supply, anchoring FDV at $3.2 billion amid Bitcoin’s drop.
Low-float structure caused misaligned trader expectations, illustrating FDV’s limitations in bearish markets.
Small price moves reflected headline valuations, not liquidity, emphasizing that scarcity and macro volatility can break FDV forecasts.

Monad launched its MON token on Monday with only a small fraction of the total supply in circulation, highlighting a key challenge in crypto valuation. With Bitcoin dropping from roughly $120,000 to below $85,000 in the weeks leading to the listing, the market environment was already bearish, making Monad’s debut a critical test of fully diluted valuation (FDV) metrics.

FDV forecasts break amid low-float launch
The MON token debuted with just over 10.8 billion tokens circulating, about 10% of the total 100 billion supply. This thin float anchored the FDV at $3.2 billion, regardless of actual market demand. Traders had previously speculated on an $8 billion outcome, but bearish sentiment paired with the limited float created a valuation that appeared inflated, demonstrating how FDV can become an optical illusion rather than a true signal of market appetite.

The launch exposed how low-float tokenomics distort trader expectations. Small price movements in such launches can produce headline valuations that seem massive, but the underlying liquidity remains shallow. Despite concerns about slow sales momentum, large team allocations, and potential airdrop selling, the structure maintained FDV above $3 billion unless the price sharply dropped. This misalignment illustrated that macro factors, like Bitcoin’s decline, were often overweighted in trader forecasts, while the token’s supply mechanics were underappreciated.

For short-term traders, Monad’s listing underscored that FDV forecasts can fail when scarcity and volatility collide. The listing did not reflect overwhelming demand but instead a valuation anchored by supply constraints. Long-term holders must also consider dilution risk from locked tokens, which will continue through 2026. The episode reinforces the importance of analyzing supply mechanics alongside market sentiment, particularly in launches with delayed unlocks and engineered scarcity.

Monad’s debut serves as a reference point for the limitations of FDV in low-float environments. When token distribution models favor small circulating supplies and slow unlock schedules, pricing frameworks can easily deviate from fundamentals. This event emphasizes that market mood often drives short-term pricing, while the math of supply plays catch-up later, highlighting the complex interplay between sentiment and tokenomics in crypto valuations.

The SOL price is facing a decisive moment as it tests the upper boundary of its two-week horizontal range near $120. This level acts as the key pivot for bullish or bearish continuation.

8 minutes ago

Bitcoin saw one of its largest supply migrations ever as traders braced for the US Federal Reserve’s December rate decision and shifting expectations toward a rate cut.

90

A historic shift in Bitcoin ownership unfolded during the latest market downturn, while the broader crypto market remained tied to uncertainty over a possible US Federal Reserve rate cut in December.

Over 8% of the total Bitcoin (BTC) supply changed hands in the past seven days, making the current market decline “one of the most significant onchain events” in Bitcoin history, according to Joe Burnett, analyst and director of Bitcoin Strategy at Semler Scientific.

During previous significant Bitcoin supply movements, Bitcoin traded at about $5,000 in March 2020 and around $3,500 in December 2018, said Burnett in a Tuesday X post.

Both occasions marked a local bottom ahead of an accumulation phase that ultimately led to new all-time highs.

Still, up to half of the current Bitcoin supply movement may be attributed to a Coinbase Wallet Migration announced on Saturday, added Burnett.

Source: Joe BurnettBitcoin, crypto markets on “knife’s edge” ahead of Fed interest rate decision in DecemberMeanwhile, Bitcoin's price and investor sentiment remain on a “knife’s edge” due to mixed messages about December’s interest rate cut decisions, according to Nic Puckrin, digital asset analyst and co-founder of educational platform The Coin Bureau.

“What is more certain, though, is that the Fed holds the key to the market’s end-of-year finale, and its next rate decision will determine whether we get a Santa rally or a Santa dump,” he told Cointelegraph.

“As we get closer to Dec. 10, I expect market jitters to continue, and the Fed’s press conference will certainly have traders on the edge of their seats.”Interest rate cut expectations for the Federal Reserve’s Dec. 10 meeting have changed drastically during the past week

Interest rate cut probabilities. Source: CMEgroup.comMarkets are pricing in an 82% chance of a 25 basis point interest rate cut, up from 50% a week ago, according to the CME Group’s FedWatch tool.

The growing interest rate cut expectations were the main fuel leading to Bitcoin’s recovery from $81,000 to $87,000, according to Puckrin.

Magazine: Bitcoin is ‘funny internet money’ during a crisis: Tezos co-founder

Ripple Lights Up Times Square as Amonyx Declares the Dawn of the XRP EraTimes Square’s latest brand takeover has sent shockwaves through the crypto community. Market analyst Amonyx declared, “Times Square just turned into Ripple Square. When the billboards go blue, you know the XRP era has begun.” 

The remark comes as institutional interest in Ripple accelerates and market sentiment around XRP strengthens.

The towering blue-lit Ripple billboards electrifying Times Square couldn’t have arrived at a more pivotal moment. 

After years of regulatory battles, market volatility, and a resurgence of global interest in blockchain infrastructure, XRP’s takeover of one of the world’s most iconic advertising hubs signals far more than marketing hype. 

Therefore, it marks a clear narrative shift, Ripple is re-entering the spotlight with the confidence of a project gearing up for major, real-world adoption.

Notably, Amonyx’s remarks have intensified the buzz, framing the Times Square takeover as a clear signal of shifting market psychology. Analysts note that such high-profile visibility often foreshadows institutional moves, strategic partnerships, or major ecosystem updates. 

For XRP, the timing is pivotal, Ripple is rapidly scaling its global payments network while advancing real-world asset tokenization initiatives, making this moment more than just a marketing splash.

What next? Well, The Times Square display may not predict immediate price action, but it unmistakably elevates XRP’s cultural and institutional profile. 

This level of visibility signals Ripple’s push into the mainstream conversation, laying the groundwork for broader adoption, stronger market confidence, and a new phase of ecosystem momentum.

As Amonyx notes, when Times Square goes blue, it signals more than spectacle, it hints at a shift in momentum. Whether it marks the true beginning of the ‘XRP era’ is uncertain, but the message is unmistakable: Ripple is positioning for a major push, and the market is watching.

Franklin Templeton Declares XRP a “Foundational Building Block” in Digital PortfoliosGlobal asset manager Franklin Templeton is deepening its digital asset focus, highlighting XRP as pivotal to blockchain-driven investment strategies. 

Roger Bayston, Head of Digital Assets, noted that blockchain technology is transforming high-growth industries, with XRP at the forefront of this shift.

According to Bayston, 

“Blockchain innovation is driving fast-growing businesses, and digital asset tokens like XRP serve as powerful incentive mechanisms that help bootstrap decentralized networks and align stakeholder interests.” 

He further highlighted XRP’s role within sophisticated digital portfolios, stating that “within a diversified digital portfolio, we view XRP as a foundational building block.”

Franklin Templeton’s new XRP ETF, XRPZ, delivers institutional-grade exposure with regulated custody, full daily transparency, and deep liquidity, simplifying XRP investment while removing the complexities of direct on-chain management.

XRPZ marks a major step in bridging traditional finance and blockchain. By wrapping XRP into a regulated investment vehicle, Franklin Templeton opens access to investors drawn to XRP’s utility but wary of managing private keys, exchanges, or custody. The move also solidifies XRP’s standing as one of the few digital assets embraced through a long-term institutional lens.

Well, Franklin Templeton’s endorsement of XRP as a foundational digital portfolio asset highlights the rising view that select blockchain tokens can underpin next-generation financial systems. 

With a proven role in cross-border payments and expanding enterprise adoption, XRP is capturing the attention of asset managers navigating the convergence of decentralized and traditional finance.

With institutional adoption rising and regulated investment products expanding, Franklin Templeton’s XRPZ ETF could be a milestone for XRP’s mainstream legitimacy. For investors seeking transparent, regulated access to the digital economy, XRPZ provides a streamlined gateway to one of the most widely used blockchain assets.

ConclusionRipple’s takeover of Times Square is more than a visual spectacle, it signals XRP’s leap into a new era of visibility, confidence, and real-world relevance. 

As Amonyx notes, when one of the world’s busiest intersections turns Ripple blue, it reflects not just market excitement, but a decisive shift in narrative and momentum.

On the other hand, as digital assets reshape investing, Franklin Templeton’s endorsement of XRP as a foundational building block signals rising institutional confidence in blockchain. 

Through the XRPZ ETF, investors gain regulated, transparent, and liquid access to decentralized networks, reducing complexity and risk. This move underscores XRP’s growing role in the digital economy and highlights the potential of blockchain assets as key components of diversified, forward-looking portfolios.

November 25, 2025 07:30 ET

 | Source:

Parsons Services Company

CHANTILLY, Va., Nov. 25, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Carey Smith, chair, president, and chief executive officer, and Matt Ofilos, chief financial officer, will participate in a fireside chat question and answer session at the Goldman Sachs Industrials and Materials Conference on Wednesday, December 3, 2025, at approximately 2:10 p.m. Eastern Time.

The presentation will be available live via webcast on the investor relations section of Parsons’ website (https://investors.parsons.com). A replay of the webcast will be available on the website following the presentation for 30 days.

About Parsons Corporation

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Contacts:

Record third quarter net sales of $1.3 billion, up 7% from last year, 12th consecutive quarter of growthNet sales growth led by Americas up 7%, EMEA up 7%, partially offset by 6% decline in APACBrand performance led by Hollister brands growth of 16%, with Abercrombie brands down 2%Operating margin of 12.0%, with earnings per diluted share of $2.36 exceeding outlook range$100 million in shares repurchased in the quarter; Year-to-date share repurchases of $350 million, 9% of shares outstanding at beginning of the yearNarrows full-year outlook to net sales growth of 6% to 7%, net income per diluted share of $10.20 to $10.50 NEW ALBANY, Ohio, Nov. 25, 2025 (GLOBE NEWSWIRE) -- Abercrombie & Fitch Co. (NYSE: ANF) today announced results for the third quarter ended November 1, 2025. These compare to results for the third quarter ended November 2, 2024. Descriptions of the use of non-GAAP financial measures and reconciliations of GAAP and non-GAAP financial measures accompany this release.

Fran Horowitz, Chief Executive Officer, said, “We achieved three years of consecutive quarterly sales growth, delivering record third quarter net sales, with 7% growth to last year. Hollister brands grew 16% on a strong finish to back-to-school and fall seasonal transition. Abercrombie brands made sequential progress in-line with our expectations, and we are tightly managing inventory as we aim for fourth quarter brand net sales to be approximately flat to last year’s record. On the bottom line, we delivered a 12.0% operating margin including important investments in marketing, digital and technology, in addition to 210 basis points of adverse tariff impact. We exceeded our expectations on earnings per share, while also returning $100 million to shareholders in the third quarter, our seventh consecutive quarter of share repurchases.  

As we enter the holiday season, our global teams are energized and ready to deliver exceptional experiences for our customers across brands and regions. We remain on track toward record net sales for fiscal 2025, on the foundation of consistent quarterly top-line growth, top-tier profitability, and healthy cash flow. Our results reinforce the strength of our operating model and give us confidence in our ability to drive sustainable, long-term shareholder value.”

Details related to reported net income per diluted share and adjusted net income per diluted share for the third quarter are as follows:

   2025  2024 GAAP $2.36 $2.50 Impact from changes in foreign currency exchange rates(1)  —  (0.03)Adjusted non-GAAP constant currency $2.36 $2.47  (1)  The estimated impact from foreign currency is calculated by applying current period exchange rates to prior year results using a 26% tax rate.

A summary of results for the third quarter ended November 1, 2025 as compared to the third quarter ended November 2, 2024:

Net sales of $1.3 billion, up 7% as compared to last year, with comparable sales of 3%.Operating income of $155 million as compared to operating income last year of $179 million.Operating margin as a percent of sales of 12.0% as compared to 14.8% last year.Net income per diluted share of $2.36 as compared to net income per diluted share last year of $2.50. Net Sales

Net sales by segment and brand for the third quarter are as follows:

(in thousands) 2025  2024 1 YR % Change Comparable sales(2)Net sales by segment:(1)       Americas(3)$1,057,448 $986,449 7% 4%EMEA(4) 194,510  181,592 7% 2%APAC(5) 38,661  40,925 (6)% (12)%Total company$1,290,619 $1,208,966 7% 3%          2025  2024 1 YR % Change Comparable sales(2)Net sales by brand family:       Abercrombie$617,345 $629,835 (2)% (7)%Hollister 673,274  579,131 16% 15%Total company$1,290,619 $1,208,966 7% 3% (1) Net sales by segment are presented by attributing revenues to a physical store location or geographical region that fulfills the order.
(2) Comparable sales are calculated on a constant currency basis. Refer to "REPORTING AND USE OF GAAP AND NON-GAAP MEASURES," for further discussion.
(3) The Americas segment includes the results of operations in North America and South America.
(4) The EMEA segment includes the results of operations in Europe, the Middle East and Africa.
(5) The APAC segment includes the results of operations in the Asia-Pacific region, including Asia and Oceania.

Financial Position and Liquidity

As of November 1, 2025 the company had:

Cash and equivalents of $606 million compared to $773 million and $683 million as of February 1, 2025 and November 2, 2024, respectively.Marketable securities of $25 million compared to $116 million and $56 million as of February 1, 2025 and November 2, 2024, respectively. The decrease from February 1, 2025 was due to $105 million of maturities in Fiscal 2025.Inventories of $730 million compared to $575 million and $693 million as of February 1, 2025 and November 2, 2024, respectively.Borrowing capacity of $500 million under the senior-secured asset-based revolving credit facility (the “ABL Facility”) with net borrowing available of $450 million after minimum excess availability requirement.Liquidity comprised of cash and equivalents and borrowing available under the ABL Facility, of approximately $1.1 billion as of November 1, 2025. This compares to liquidity of $1.2 billion and $1.1 billion as of February 1, 2025 and November 2, 2024, respectively. Cash Flow and Capital Allocation

Details related to the company’s cash flows for the year-to-date period ended November 1, 2025 are as follows:

Net cash provided by operating activities of $313 million.Net cash used for investing activities of $95 million, primarily reflecting capital expenditures, partially offset by maturities of marketable securities.Net cash used for financing activities of $395 million, primarily reflecting share repurchases.
During the third quarter of 2025, the company repurchased 1.2 million shares for approximately $100 million. For the year-to-date period ended November 1, 2025, the company repurchased 4.5 million shares for $350 million, representing a 9% reduction in shares outstanding from the beginning of the year. The company has $950 million remaining on the share repurchase authorization established in March 2025.

Depreciation and amortization was $115 million for the year-to-date period ended November 1, 2025.

Fiscal 2025 Outlook

The following outlook replaces all previous full year guidance. For fiscal 2025, the company now expects: Current Full Year Outlook(1) (2)Previous Full Year Outlook(2)(3)Net salesGrowth In The Range of 6% to 7%Growth In The Range of 5% to 7%Operating marginIn The Range of 13.0% to 13.5%In The Range of 13.0% to 13.5%Effective tax rate(4)Around 30%Around 30%Net income per diluted share(5) (6)In The Range of $10.20 to $10.50In The Range of $10.00 to $10.50Share repurchases(6)Around $450 millionAround $400 millionDiluted weighted average shares(5) (6)Around 48 millionAround 49 millionCapital expenditures~$225 million~$225 millionReal estate activity
~40 Net Store Openings~40 Net Store Openings(all approximate)60 Openings, 20 Closures60 Openings, 20 Closures 40 Remodels And Right-Sizes40 Remodels And Right-Sizes     FourthQuarter Outlook(1) Net salesGrowth In The Range of 4% to 6% Operating marginAround 14% Effective tax rate(4)Around 30% Net income per diluted share(5) (6)In The Range of $3.40 to $3.70 Share repurchases(6)Around $100 million Diluted weighted average shares(5) (6)Around 47 million  (1) Includes the estimated impact from the tariffs on goods imported into the United States in accordance with trade policies as of November 21, 2025. This excludes any other potential future trade policy changes imposed by the United States or other countries. Net of planned mitigation efforts, the full year outlook assumes approximately $90 million of tariff expense, or 170 basis points as a percent of net sales.
(2) Includes $39 million net benefit on a pre-tax basis, or $29 million on a tax-adjusted basis, from a litigation settlement.
(3) Released August 27, 2025.
(4) The current outlook for effective tax rate is sensitive to the jurisdictional mix and level of income and does not include the impact of potential future tax policy or legislative changes.
(5) The current outlook for net income per diluted share and diluted weighted average shares includes the anticipated impact to shares outstanding from potential share repurchase activity in fiscal 2025.
(6) The timing and amount of any such repurchases will be determined based on an evaluation of market conditions, the company’s share price, legal requirements, and other factors.

Conference Call

Today at 8:30 a.m. ET, the company will conduct a conference call and provide additional details around its quarterly results and its outlook for the fourth quarter. To access the call by phone, participants will need to register at the following URL address to obtain a dial-in number and passcode:

https://register-conf.media-server.com/register/BI2e64b4f132384c58afdebae36de224c2 

A presentation of third quarter results will be available in the “Investors” section at corporate.abercrombie.com at approximately 7:30 a.m. ET, today. Important information may be disseminated initially or exclusively via the website; investors should consult the site to access this information.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This Press Release and related statements by management or spokespeople of Abercrombie & Fitch Co. (A&F) contain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements, including, without limitation, statements regarding our fourth quarter and annual fiscal 2025 results, relate to our current assumptions, projections and expectations about our business and future events. Any such forward-looking statements involve risks and uncertainties and are subject to change based on various important factors, many of which may be beyond the company’s control. The inclusion of such information should not be regarded as a representation by the company, or any other person, that the objectives of the company will be achieved. Words such as “estimate,” “project,” “plan,” “goal,” “believe,” “expect,” “anticipate,” “intend,” “should,” “are confident,” “will,” “could,” “outlook,” and similar expressions may identify forward-looking statements. Except as may be required by applicable law, we assume no obligation to publicly update or revise any forward-looking statements, including any financial targets, estimates, or performance outlooks whether as a result of new information, future events, or otherwise. Factors that may cause results to differ from those expressed in our forward-looking statements include, but are not limited to, the factors disclosed in Part I, Item 1A. “Risk Factors” of the company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2025, and in our subsequent reports and filings with the Securities and Exchange Commission, as well as the following factors: risks and uncertainties related to global trade policy and global trade disputes, including the impact of the imposition or threat of imposition of new or increased tariffs by the United States or foreign governments or other changes to trade policies and arrangements; risks related to changes in global economic and financial conditions, including inflation, and the resulting impact on consumer spending and our operating results, financial condition, and expense management; risks related to global operations, including changes in the economic or political conditions where we sell or source our products; risks related to the geopolitical landscape and ongoing armed conflicts, acts of terrorism, mass casualty events, social unrest, civil disturbance or disobedience and the impact of such conflicts or events on international trade, supplier delivery or increased freight costs; risks related to natural disasters and other unforeseen catastrophic events; risks related to our failure to engage our customers, anticipate customer demand, expectations, and changing fashion trends, and manage our inventory and product delivery; risks related to our failure to operate effectively in a highly competitive and constantly evolving industry; risks related to our ability to successfully invest in and execute on our customer, digital and omnichannel initiatives; risks related to our ability to successfully execute technology initiatives and partnerships, such as those relating to artificial intelligence technology; risks related to our ability to execute on, and maintain the success of, our strategic and growth initiatives; risks related to fluctuations in foreign currency exchange rates; risks related to fluctuations in our tax obligations and effective tax rate, including as a result of earnings and losses generated from our global operations, may result in volatility in our results of operations; risks and uncertainty related to adverse public health developments; risks associated with climate change and other corporate responsibility issues; risks related to reputational harm to the company, its officers, and directors; risks related to actual or threatened litigation; risks related to cybersecurity threats and privacy or data security breaches, and the potential loss or disruption to our information systems, and uncertainties related to future legislation, regulatory reform, policy changes, or interpretive guidance on existing laws and regulations.

Other Information

This document includes certain adjusted non-GAAP financial measures, which are not calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and exclude the impact of certain items. Management uses these non-GAAP financial measures to evaluate the company’s performance and manage its operations, and believes such measures to be helpful in understanding the company's results of operations or financial position. These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures, as reconciled in the above table. Also, such non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Additional details about non-GAAP financial measures and a reconciliation of GAAP financial measures to non-GAAP financial measures can be found in the “Reporting and Use of GAAP and Non-GAAP Measures” section. Sub-totals and totals may not foot due to rounding. Net income and net income per share financial measures included herein are attributable to Abercrombie & Fitch Co., excluding net income attributable to noncontrolling interests.

As used in this document, references to “Americas” includes North America and South America, “EMEA” includes Europe, the Middle East and Africa and “APAC” includes the Asia-Pacific region, including Asia and Oceania.

About Abercrombie & Fitch Co.

Abercrombie & Fitch Co. (NYSE: ANF) is a global, digitally led, omnichannel specialty retailer of apparel and accessories catering to kids through millennials with assortments curated for their specific lifestyle needs.

The company operates a family of brands, including Abercrombie brands and Hollister brands, each sharing a commitment to offer products of enduring quality and exceptional comfort that support global customers on their journey to being and becoming who they are. Abercrombie & Fitch Co. operates approximately 830 stores under these brands across North America, Europe, Asia and the Middle East, as well as the e-commerce sites abercrombie.com, abercrombiekids.com, and HollisterCo.com.

Investor Contact:Media Contact:  Mo GuptaKate WagnerAbercrombie & Fitch Co.Abercrombie & Fitch Co.(614) 283-6751(614) [email protected][email protected] Abercrombie & Fitch Co.Condensed Consolidated Statements of Operations(in thousands, except per share data)(Unaudited)         Thirteen Weeks Ended Thirteen Weeks Ended November 1, 2025 % of
Net Sales November 2, 2024 % of
Net SalesNet sales$1,290,619  100.0% $1,208,966  100.0%Cost of sales, exclusive of depreciation and amortization 483,670  37.5%  422,034  34.9%Selling expense 459,548  35.6%  420,990  34.8%General and administrative expense 193,402  15.0%  188,246  15.6%Other operating income, net (1,022) (0.1)%  (1,586) (0.1)%Operating income 155,021  12.0%  179,282  14.8%Interest expense 550  —%  569  —%Interest income (6,491) (0.5)%  (9,302) (0.8)%Interest income, net (5,941) (0.5)%  (8,733) (0.7)%Income before income taxes 160,962  12.5%  188,015  15.6%Income tax expense 45,862  3.6%  54,151  4.5%Net income 115,100  8.9%  133,864  11.1%Less: Net income attributable to noncontrolling interests 2,105  0.2%  1,885  0.2%Net income attributable to A&F$112,995  8.8% $131,979  10.9%        Net income per share attributable to A&F       Basic$2.41    $2.59   Diluted$2.36    $2.50           Weighted-average shares outstanding:       Basic 46,842     50,951   Diluted 47,881     52,869    Abercrombie & Fitch Co.Condensed Consolidated Statements of Operations(in thousands, except per share data)(Unaudited)         Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended November 1, 2025 % of
Net Sales November 2, 2024 % of
Net SalesNet sales$3,596,490  100.0% $3,363,670  100.0%Cost of sales, exclusive of depreciation and amortization 1,352,393  37.6%  1,163,019  34.6%Selling expense 1,234,841  34.3%  1,163,565  34.6%General and administrative expense 543,652  15.1%  555,941  16.5%Other operating loss (income), net 2,392  0.1%  (3,611) (0.1)%Operating income 463,212  12.9%  484,756  14.4%Interest expense 1,831  0.1%  11,538  0.3%Interest income (17,029) (0.5)%  (30,497) (0.9)%Interest income, net (15,198) (0.4)%  (18,959) (0.6)%Income before income taxes 478,410  13.3%  503,715  15.0%Income tax expense 138,183  3.8%  119,394  3.5%Net income 340,227  9.5%  384,321  11.4%Less: Net income attributable to noncontrolling interests 5,436  0.2%  5,324  0.2%Net income attributable to A&F$334,791  9.3% $378,997  11.3%        Net income per share attributable to A&F       Basic$6.99    $7.43   Diluted$6.83    $7.13           Weighted-average shares outstanding:       Basic 47,869     51,030   Diluted 49,022     53,141    Reporting and Use of GAAP and Non-GAAP Measures

The company believes that each of the non-GAAP financial measures presented are useful to investors as they provide a measure of the company’s operating performance excluding the effect of certain items which the company believes do not reflect its future operating outlook, therefore supplementing investors’ understanding of comparability of operations across periods. Management used these non-GAAP financial measures during the periods presented to assess the company’s performance and to develop expectations for future operating performance. Non-GAAP financial measures should be used supplementally to, and not as an alternative to, the company’s GAAP financial results, and may not be calculated in the same manner as similar measures presented by other companies.

The company provides comparable sales, defined as the percentage year-over-year change in the aggregate of: (1) sales for stores that have been open as the same brand at least one year and whose square footage has not been expanded or reduced by more than 20% within the past year, with prior year’s net sales converted at the current year’s foreign currency exchange rate to remove the impact of foreign currency rate fluctuation, and (2) digital net sales with prior year’s net sales converted at the current year’s foreign currency exchange rate to remove the impact of foreign currency rate fluctuation.

The company also provides certain financial information on a constant currency basis to enhance investors’ understanding of underlying business trends and operating performance, by removing the impact of foreign currency exchange rate fluctuations. The effect from foreign currency, calculated on a constant currency basis, is determined by applying current year average exchange rates to prior year results and is net of the year-over-year impact from hedging. The per diluted share effect from foreign currency is calculated using a 26% tax rate.

In addition, the company provides EBITDA and Adjusted EBITDA as supplemental measures used by the company’s executive management to assess the company’s performance. We also believe these supplemental performance measures are meaningful information for investors and other interested parties to use in computing the company’s core financial performance over multiple periods and with other companies by excluding the impact of differences in tax jurisdictions, debt service levels and capital investment.

Abercrombie & Fitch Co.Schedule of Non-GAAP Financial MeasuresThirty-Nine Weeks Ended November 1, 2025(in thousands, except per share data)(Unaudited)           GAAP(1) % of
Net Sales Excluded item(2) Adjusted
non-GAAP % of
Net SalesLitigation settlement$(38,574)   $(38,574) $—  Operating income 463,212  12.9%  38,574   424,638 11.8%Income before income taxes 478,410  13.3%  38,574   439,836 12.2%Income tax expense(3) 138,183  3.8%  9,829   128,354 3.6%Net income attributable to A&F 334,791  9.3%  28,745   306,046 8.5%          Net income per diluted share attributable to A&F$6.83    $0.59  $6.24  Diluted weighted-average shares outstanding 49,022       49,022   (1) “GAAP” refers to accounting principles generally accepted in the United States of America.
(2) Excluded item consists of a favorable settlement, net of legal fees, of payment card interchange fee litigation
(3) The tax effect of excluded items is the difference between the tax provision calculated on a GAAP basis and an adjusted non-GAAP basis.

Abercrombie & Fitch Co.Reconciliation of Constant Currency Financial MeasuresThirteen Weeks Ended November 1, 2025 and November 2, 2024(in thousands, except percentage and basis point changes and per share data)(Unaudited)        2025  2024  % ChangeNet sales     GAAP(1)$1,290,619 $1,208,966   7% Impact from changes in foreign currency exchange rates(2) —  5,834   — Net sales on a constant currency basis$1,290,619 $1,214,800   6%       Operating income 2025  2024  BPS Change(3)GAAP(1)$155,021 $179,282   (280) Impact from changes in foreign currency exchange rates(2) —  (1,852)  20 Non-GAAP constant currency basis$155,021 $177,430   (260)       Net income per share attributable to A&F 2025  2024  $ ChangeGAAP(1)$2.36 $2.50  $(0.14) Impact from changes in foreign currency exchange rates(2) —  (0.03)  0.03 Non-GAAP constant currency basis$2.36 $2.47  $(0.11)  (1) “GAAP” refers to accounting principles generally accepted in the United States of America.
(2) The estimated impact from foreign currency is determined by applying current period exchange rates to prior year results and is net of the year-over-year impact from hedging. The per diluted share estimated impact from foreign currency is calculated using a 26% tax rate.
(3) The estimated basis point change has been rounded based on the percentage change.

Abercrombie & Fitch Co.Reconciliation of EBITDA and Adjusted EBITDAThirteen Weeks Ended November 1, 2025 and November 2, 2024(in thousands)(Unaudited)         2025  % of
Net Sales 2024  % of
Net SalesNet income$115,100  8.9%$133,864  11.1%Income tax expense 45,862  3.6  54,151  4.5 Interest income, net (5,941) (0.5) (8,733) (0.7)Depreciation and amortization 38,566  3.0  39,566  3.2 EBITDA$193,587  15.0%$218,848  18.1%              Abercrombie & Fitch Co.Reconciliation of EBITDA and Adjusted EBITDAThirty-Nine Weeks Ended November 1, 2025 and November 2, 2024(in thousands)(Unaudited)         2025  % of
Net Sales 2024  % of
Net SalesNet income$340,227  9.5%$384,321  11.4%Income tax expense 138,183  3.8  119,394  3.5 Interest (income) expense, net (15,198) (0.4) (18,959) (0.6)Depreciation and amortization 114,566  3.2  116,610  3.6 EBITDA(1)$577,778  16.1%$601,366  17.9%       Adjustments to EBITDA      Litigation settlement (38,574) (1.1)% —  —%Adjusted EBITDA(1)$539,204  15.0%$601,366  17.9% (1) EBITDA and Adjusted EBITDA are supplemental financial measures that are not defined or prepared in accordance with GAAP. EBITDA is defined as net income before interest, income taxes and depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for a favorable settlement, net of legal fees, of payment card interchange fee litigation.

Abercrombie & Fitch Co.Condensed Consolidated Balance Sheets(in thousands)(Unaudited)       November 1, 2025 February 1, 2025 November 2, 2024Assets     Current assets:     Cash and equivalents$605,783 $772,727 $683,089Marketable securities 25,255  116,221  55,790Receivables 131,741  105,324  111,583Inventories 730,453  575,005  692,596Other current assets 116,303  104,154  112,709Total current assets 1,609,535  1,673,431  1,655,767Property and equipment, net 661,646  575,773  570,440Operating lease right-of-use assets 965,919  803,121  798,290Other assets 242,818  247,562  245,375Total assets$3,479,918 $3,299,887 $3,269,872      Liabilities and stockholders’ equity     Current liabilities:     Accounts payable$461,528 $364,532 $466,303Accrued expenses 458,075  504,922  469,148Short-term portion of operating lease liabilities 225,847  211,600  210,335Income taxes payable 17,557  45,890  36,303Total current liabilities$1,163,007 $1,126,944 $1,182,089Long-term liabilities:     Long-term portion of operating lease liabilities$905,041 $740,013 $734,918Other liabilities 80,460  81,607  92,405Total long-term liabilities 985,501  821,620  827,323Total Abercrombie & Fitch Co. stockholders’ equity 1,316,843  1,335,628  1,247,133Noncontrolling interests 14,567  15,695  13,327Total stockholders’ equity 1,331,410  1,351,323  1,260,460Total liabilities and stockholders’ equity$3,479,918 $3,299,887 $3,269,872 Abercrombie & Fitch Co.Condensed Consolidated Statements of Cash Flows(in thousands, except per share data)(Unaudited)         Thirty-Nine Weeks Ended November 1, 2025 November 2, 2024Operating activities   Net cash provided by operating activities$313,000  $402,756     Investing activities   Purchases of marketable securities$(15,000) $(55,000)Proceeds from maturities of marketable securities 105,000   — Purchases of property and equipment (185,212)  (132,040)Net cash used for investing activities$(95,212) $(187,040)    Financing activities   Redemption of senior secured notes$—  $(223,331)Payment of debt modification costs and fees —   (3,273)Purchases of common stock (351,224)  (129,807)Acquisition of common stock for tax withholding obligations (36,181)  (69,613)Other financing activities (7,149)  (6,546)Net cash used for financing activities$(394,554) $(432,570)    Effect of foreign currency exchange rates on cash$8,930  $(1,834)Net decrease in cash and equivalents, and restricted cash and equivalents$(167,836) $(218,688)Cash and equivalents, and restricted cash and equivalents, beginning of period$780,395  $909,685 Cash and equivalents, and restricted cash and equivalents, end of period$612,559  $690,997 

November 25, 2025 07:30 ET

 | Source:

BridgeBio Pharma, Inc.

PALO ALTO, Calif., Nov. 25, 2025 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a new type of biopharmaceutical company focused on genetic diseases, today announced that members of its management team will participate in fireside chats at the following healthcare investor conferences:

Piper Sandler Healthcare Conference, New York, NY: Fireside Chat on Tuesday, December 2 at 10:30 am ESTEvercoreISI HealthCONx Conference, Miami, FL: Fireside Chat on Wednesday, December 3 at 3:00 pm EST To access the live webcast of BridgeBio’s presentations, please visit the “Events and Presentations” page within the Investors section of the BridgeBio website at https://investor.bridgebio.com. A replay of the webcasts will be available on the BridgeBio website for 90 days following the event.

About BridgeBio Pharma, Inc.
BridgeBio Pharma, Inc. (BridgeBio; Nasdaq: BBIO) is a new type of biopharmaceutical company founded to discover, create, test, and deliver transformative medicines to treat patients who suffer from genetic diseases. BridgeBio’s pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit bridgebio.com and follow us on LinkedIn, X, Facebook, Instagram, and YouTube. 

BridgeBio Media Contact:
Bubba Murarka, Executive Vice President, Corporate Development
[email protected]  
(650)-789-8220

BridgeBio Investor Contact:
Chinmay Shukla, Senior Vice President, Strategic Finance
[email protected]

TORONTO, Nov. 25, 2025 (GLOBE NEWSWIRE) -- Q-Gold Resources Ltd. (TSXV: QGR; OTCQB: QGLDF) ("QGold" or the "Company") is pleased to announce the signing of an agreement dated November 20, 2025 with leading engineering firm Kappes, Cassiday & Associates ("KCA") to initiate a preliminary economic assessment ("PEA") on its flagship Quartz Mountain Gold Project located in Oregon, USA.

"Today's engagement of Kappes Cassiday, combined with our recently completed NI 43-101 technical report, positions QGold to unlock significant shareholder value from this strategically located asset in a proven historic mining district of Oregon, USA," commented Peter Tagliamonte, President and CEO of QGold. "With our recently completed financing, we anticipate an exceptionally active period ahead as we advance the Quartz Mountain Gold Project through critical development milestones in 2025 and 2026."

Acquired from Alamos Gold in Q3 of this year, the Quartz Mountain Gold Project is a promising gold development project in southcentral Oregon (see figure 1). The initiation of the PEA follows the recently published mineral resource estimate (the "Mineral Resource Estimate") in a technical report dated effective September 26, 2025, for the Quartz Mountain Gold Project. The highlights of the Mineral Resource Estimate include:

An estimated 1,543,000 ounces of gold with a grade of 0.96 g/t and 2,049,000 ounces of silver with a grade of 1.27 g/t within 50,002,000 tonnes in the indicated mineral resource categoryAn additional 148,000 ounces of gold with a grade of 0.77 g/t and 135,000 ounces of silver with a grade of 0.70 g/t within 5,992,000 tonnes in the inferred mineral resource categoryThe Mineral Resource Estimate is amenable to conventional open-pit mining methods The PEA now underway will provide a comprehensive evaluation of the project's economic potential, including mining methods, processing options, capital and operating costs, and projected financial returns. KCA brings decades of experience in metallurgical engineering and mine development, making them an ideal partner for this critical phase of advancement.

"With KCA, QGold is positioned to capitalize on the project's strategic advantages," added Peter Tagliamonte. "These include its favorable location, established infrastructure, solid mineral resource base, and the designation of gold as a strategic asset in the USA within a strong gold market."

The results of the PEA are expected to be completed in the coming months and will serve as a foundation for future technical studies and permitting activities.

Figure 1: Quartz Mountain Gold Project Location Map

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Fred Brown, P.Geo., an independent consultant of the Company, and Dr. Andreas Rompel, Pr.Sci.Nat., Vice President, Exploration and a director of QGold, each a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Q-Gold Resources Ltd.

Q-Gold Resources Ltd. (TSXV: QGR; OTCQB: QGLDF; Börse Frankfurt: QX9G) is a publicly traded North American-based mineral exploration and development company focused on advancing gold and silver projects in mining-friendly jurisdictions across North America. The Company is operated by seasoned resource professionals.

The Company's shares are listed on the TSX Venture Exchange under the symbol "QGR", the OTCQB® market in the United States under "QGLDF", and the Börse Frankfurt exchange under "QX9G".

QGold is committed to advancing its portfolio of gold and silver assets toward production, with its primary focus on its flagship Quartz Mountain Gold Project in Oregon (USA) and the Mine Centre Gold Project in Ontario (Canada). The Company focuses on resource expansion through systematic exploration, disciplined project development backed by rigorous technical work, and responsible environmental stewardship in mining-friendly jurisdictions with established infrastructure.

For Further Information, Contact:

Peter Tagliamonte
Chief Executive Officer
Email: [email protected]
Website: https://qgoldresources.com
Cell: +1 (416) 564-2880

Cautionary Notes

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the PEA, including its anticipated impact and timing of results, and the Company’s beliefs, plans, expectations or intentions for the Quartz Mountain Gold Project and Mine Centre Gold Project, including its plans to progress its portfolio of assets toward production. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/41af6681-3da1-4332-9f77-121cb0634037

DUBLIN, Ohio, Nov. 25, 2025 (GLOBE NEWSWIRE) -- reAlpha Tech Corp. (Nasdaq: AIRE) (“reAlpha” or the “Company”), an AI-powered real estate technology company, today announced the acquisition of Prevu Inc. (“Prevu”), a digital homebuying platform with real estate brokerage operations across 12 states and Washington, D.C. The acquisition expands reAlpha’s licensed real estate footprint into 11 new markets and represents a step-change in the Company’s multi-service expansion, unifying realty and mortgage capabilities to support a broader national footprint.

Founded and headquartered in New York, Prevu is a digital-first, rebate-oriented brokerage model with more than 1,000 completed transactions, a 5-star Google rating, and an established homebuyer lead flow. Its proprietary platform is designed to streamline transactions, enhance agent productivity, and deliver a more efficient and transparent consumer experience. Prevu’s technology aligns closely with the Company’s product vision and the Company believes Prevu is well-positioned to integrate with Claire and internal automation workflows, creating meaningful opportunities to further strengthen the unified homebuying platform.

“Prevu brings both additional market coverage, as well as enhanced operational capabilities that we expect to accelerate reAlpha’s long-term platform strategy,” said Mike Logozzo, Chief Executive Officer of reAlpha. “We believe that integrating its brokerage business with our current real estate operations will unlock our ability to operate at scale and deliver greater consistency and transparency across the homebuying journey.”

“Becoming part of the reAlpha team marks an exciting next chapter for Prevu,” said Thomas Kutzman, Chief Executive Officer of Prevu. “Our shared commitment to modernizing real estate through technology and operational excellence makes this a natural fit. We look forward to leveraging reAlpha’s AI-powered platform, mortgage and title services, and engineering resources to further scale our impact and deliver even greater value to homebuyers and the agents that serve them.”

The acquisition marks the start of a structured integration process to bring Prevu’s brokerage operations, technology, and team into reAlpha’s unified homebuying platform. Early integration planning is underway to ensure continuity and focus on alignment as the companies begin combining their realty capabilities.

About Prevu, Inc.

Prevu is a real estate technology company on a mission to empower homebuyers. The company’s digital platform and Smart Buyer™ rebate offers a homebuying experience intended to provide consumers with greater control, transparency and savings when purchasing a home. This online experience is designed to deliver a smarter, more efficient way for homebuyers to transact. Prevu currently operates in major metropolitan markets in California, Colorado, Connecticut, Florida, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Texas, Virginia, Washington, Washington, D.C. To learn more, visit www.prevu.com.

About reAlpha Tech Corp.

reAlpha Tech Corp. (Nasdaq: AIRE) is an AI-powered real estate technology company that aims to transform the multi-trillion-dollar U.S. real estate services market. reAlpha is developing an end-to-end platform that streamlines real estate transactions through integrated brokerage, mortgage, and title services. With a strategic, acquisition-driven growth model and proprietary AI infrastructure, reAlpha is building a vertically integrated ecosystem designed to deliver a simpler, smarter, and more affordable path to homeownership. For more information, visit www.realpha.com.

Forward-Looking Statements

The information in this press release includes “forward-looking statements.” Any statements other than statements of historical fact contained herein, including statements by reAlpha’s Chief Executive Officer, Mike Logozzo and Chief Executive Officer of Prevu, Thomas Kutzman or statements about the Prevu acquisition, the anticipated benefits of the Prevu acquisition, reAlpha’s ability to integrate Prevu into its business and scale its business following the acquisition of Prevu and reAlpha’s long-term platform strategy, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s ability to integrate the business of Prevu into its existing business and the anticipated demand for Prevu’s services; reAlpha’s ability to enhance its operational efficiency, improve cross-functional coordination and support the reAlpha platform’s continued growth through the implementation of its new internal organizational structure; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to integrate the business of previously acquired companies into its existing business and the anticipated demand for such acquired companies’ services; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets and nationally; reAlpha’s ability to commercialize its developing AI-based technologies; reAlpha’s ability to pay contractual obligations; reAlpha’s liquidity, operating performance, cash flow and ability to secure future financing on favorable terms if needed; reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; the potential loss of key employees of reAlpha and of its subsidiaries; the outcome of certain outstanding legal proceedings against reAlpha and any legal proceedings that might be instituted against reAlpha; reAlpha’s ability to obtain, and maintain, the required licenses to operate in the U.S. states in which it, or its subsidiaries, operate in, or intend to operate in; reAlpha’s ability to successfully identify and acquire companies that are complementary to its business model; reAlpha’s ability to maintain and strengthen its brand and reputation; reAlpha’s ability to benefit from the implementation and use of its internal AI-powered assistants; reAlpha’s ability to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) during the additional compliance period; reAlpha’s ability to maintain compliance with applicable Nasdaq listing rules; any accidents or incidents involving cybersecurity breaches and incidents; the availability of rebates, which may be limited or restricted by state law; risks specific to AI-based technologies, including potential inaccuracies, bias, or regulatory restrictions; risks related to data privacy, including evolving laws and consumer expectations; reAlpha’s ability to accurately forecast demand for AI-based real estate-focused products; reAlpha’s ability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s SEC filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact:

Cristol Rippe, Chief Marketing Officer

[email protected]

Investor Relations Contact:

Adele Carey, VP of Investor Relations

[email protected]

Dublin, Ireland, Nov. 25, 2025 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of full-service energy engineering, advisory, and utility solutions, today announced that its subsidiary, Bright Hydrogen Solutions Ltd (“BrightHy Solutions”), a leading engineering and advisory company specialized in green hydrogen, has signed a definitive contract to be the engineering, installation and equipment provider for a green hydrogen project in southern Europe. This follows the Company’s September 2 press release, in which BrightHy Solutions announced it had been selected to negotiate this agreement.

The contract, valued at up to approximately €1.7 million, covers the delivery of an electrolyzer system and hydrogen refueling station for a large construction company, supporting the region’s commitment to clean mobility and renewable energy transition. The project will be carried out in close collaboration with certain strategic partners of BrightHy Solutions.

Engineering work for the project has already commenced, and production of key equipment is underway. Once complete, the facility is expected to support the expanding hydrogen ecosystem in the region.

The full plant is expected to be delivered, installed, and commissioned in 2026.

“This contract represents a significant step forward not only for BrightHy Solutions, but also for the rapid build-out of hydrogen infrastructure across southern Europe,” said Luis Galdo, BrightHy Solutions’ Chief Commercial Officer. “We are proud to support our client’s forward-looking strategy and to contribute to a more sustainable energy future.”

About Fusion Fuel Green PLC

Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy supply, distribution, and engineering and advisory solutions through its Al Shola Al Modea Gas Distribution LLC (“Al Shola Gas”), BrightHy Solutions, and BioSteam Energy (Proprietary) Limited (“BioSteam Energy”) businesses. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy Solutions, the Company’s hydrogen solutions platform, delivers innovative engineering and advisory services enabling decarbonization across hard-to-abate industries. BioSteam Energy provides biomass-powered industrial steam solutions to clients.

About Bright Hydrogen Solutions Ltd

BrightHy Solutions, a subsidiary of Fusion Fuel Green PLC (NASDAQ: HTOO), seeks to lead the hydrogen through electrolysis solutions market. With its substantial industry experience, BrightHy Solutions views itself as a partner to clients through the entire hydrogen production value chain including plant design, tailored engineering solutions, equipment sourcing, engineering and implementation oversight. BrightHy Solutions has a strong and core focus on safety, reliability, and efficiency. Find out more at www.brighthy.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify these statements because they contain words such as “may,” “will,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should,” “seeks,” “future,” “continue,” “plan,” “target,” “predict,” “potential,” or the negative of such terms, or other comparable terminology that concern the Company’s expectations, strategy, plans, or intentions. Forward-looking statements relating to expectations about future results or events are based upon information available to the Company as of today’s date and are not guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. The Company’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, the ability of the parties to obtain all necessary regulatory and other consents and approvals and to deliver all required products and services in connection with the contemplated project; the ability of the project to generate the expected free cash flows or net income necessary for the Company to generate the anticipated returns in connection with the contemplated project; macroeconomic risks relating to currency exchange rates, inflation rates, interest rates, or other potentially disruptive factors; and the risks and uncertainties described under Item 3. “Key Information – D. Risk Factors” and elsewhere in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 9, 2025 (the “Annual Report”), and other filings with the SEC. Should any of these risks or uncertainties materialize, or should the underlying assumptions about the Company’s business and the commercial markets in which the Company operates prove incorrect, actual results may vary materially from those described as anticipated, estimated or expected in the Annual Report. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The Company does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof, except as required by law.

Investor Relations Contact
[email protected]
www.fusion-fuel.eu

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Burlington Stores BURL -4.06%decrease; red down pointing triangle reported higher third-quarter sales and raised its full-year outlook in the latest sign that consumers are flocking to off-price retailers due to concerns about inflation and the economy.

The off-price apparel retailer reported net income of $105 million, or $1.63 a share, up from $91 million, or $1.40 a share, the year prior.

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LEXINGTON, Mass.--(BUSINESS WIRE)--FUJIFILM Healthcare Americas Corporation, a leading provider of enterprise imaging and informatics solutions, will showcase new innovations in its industry leading Synapse medical informatics portfolio at the 2025 Radiological Society of North America (RSNA) Conference & Annual Meeting held November 30 to December 3. The new innovations in booth #3300 include a comprehensive enterprise imaging and informatics solution designed to meet the demands of outpatient imaging centers, and updates to Fujifilm’s flagship Synapse Enterprise PACS.

“Our customers are some of the world’s largest health systems and outpatient practices, and Fujifilm is steadfast in its commitment to deliver new innovative enterprise imaging technology which aligns with the needs of our global provider partners,” said Bill Lacy, senior vice president, medical informatics global business, FUJIFILM Healthcare Americas Corporation. “At this year’s RSNA, we’re shining a light on the continuous expansion of our Synapse enterprise imaging portfolio, and we are extremely excited to demonstrate the next generation of our cloud first Synapse PACS with native advanced visualization and AI adoption from imaging analytics to AI driven workflow.”

Fujifilm’s new medical informatics solutions that will be showcased at booth #3300 include:

Synapse PACS: Attendees will have the opportunity to demo Fujifilm’s flagship PACS which now embeds artificial intelligence and 3D advanced visualization applications, bringing automated study assignments and prioritization along with 3D-enhanced image analyses directly within the reader’s workflow. Synapse PACS delivers cloud-enabled enterprise imaging experiences that are tailored to each specialty and workflow, including radiology, mammography, cardiology, pathology, and point-of-care ultrasound. The system also introduced Synapse Viewer eXtension: a native PACS application that’s centered on speed and delivers a consistent reading experience regardless of location.

"The new system is really powerful, even when compared to other vendors' PACS," states Ben Arnold, PACS System Engineer, OhioHealth.

Synapse One: Fujifilm’s new, comprehensive, tailor-made workflow solution designed for unique outpatient imaging needs. This all-inclusive enterprise imaging solution enables providers to address everything from patient engagement, self-scheduling of exams, RIS (Radiology Information System), PACS (Picture Archiving and Communication System), advanced 3D imaging, physician portals, and more, all within the Synapse platform in the secure Amazon Web Services (AWS) cloud.

Also at RSNA, Roger Yang, MD, FACR, president of University Radiology Group (URG), will present on how to optimize AI-driven mammography workflows in PACS featuring Fujifilm’s Synapse AI Orchestrator on Tuesday, December 2 from 3:00-3:20 pm CT in South Hall-Level 3 Innovation Theater Booth #3316.

Dr. Yang will present on how his radiology network, URG, uses Fujifilm’s Synapse AI Orchestrator to optimize mammography workflows within Fujifilm’s Synapse PACS. Additionally, Dr. Yang will discuss URG’s results, the current industry architecture for delivering various AI-driven mammography findings to the PACS workstation and share real world examples on how Fujifilm’s AI Orchestrator is revolutionizing that concept by providing a common user experience, regardless of the AI engines in use, to help streamline workflows and support accurate mammography interpretations. Media that is interested in attending the presentation are kindly asked to fill out this form.

If you are attending RSNA 2025 and would like to book a demo to learn more, click here.

About Fujifilm

FUJIFILM Healthcare Americas Corporation is a comprehensive healthcare company that has an extensive range of technology and expertise in the detection, diagnosis, and treatment of diseases. Fujifilm’s innovative portfolio includes solutions spanning diagnostic imaging, enterprise imaging, endoscopic imaging, surgical imaging, and in-vitro diagnostics. The Non-Destructive Testing group delivers radiography solutions to ensure high accuracy inspection of transportation infrastructure, and assets within aerospace, and oil and gas industries.

The company is headquartered in Lexington, Massachusetts. For more information on healthcare offerings, please visit healthcaresolutions-us.fujifilm.com, and for NDT portfolio, please visit https://www.fujifilm.com/us/en/business/industrial-materials/non-destructive-testing.

FUJIFILM Holdings Corporation, headquartered in Tokyo, leverages its depth of knowledge and proprietary core technologies to deliver innovative products and services across the globe through the four key business segments of healthcare, electronics, business innovation, and imaging with over 70,000 employees. Guided and united by our Group Purpose of “giving our world more smiles,” we address social challenges and create a positive impact on society through our products, services, and business operations. Under its medium-term management plan, VISION2030, which ends in FY2030, we aspire to continue our evolution into a company that creates value and smiles for various stakeholders as a collection of global leading businesses and achieve a global revenue of 4 trillion yen. For more information, please visit: https://holdings.fujifilm.com/en.

Following peer-reviewed publication and independent expert review of findings, the LOI advances Lunai's tumor-regressing immune-cell platform toward scalable therapies for aggressive cancers

, /PRNewswire/ -- Lunai Bioworks (NASDAQ: LNAI), an AI-powered drug discovery and biodefense company, today announced it has secured its first Letter of Intent (LOI) to license its next-generation immune cell therapy, which achieved complete regression of both primary and metastatic pancreatic tumors with no recurrence in humanized preclinical models.

Images of control and 2nd Gen treatment condition mice using in vivo imaging system. Live imaging system was utilized to capture the tumor growth at various timepoints. The DC treated mouse showed absent signals of tumor at 5-week post dosing.

This milestone follows Lunai's recent peer-reviewed publication in Vaccines, a successful pre-IND meeting with the U.S. Food and Drug Administration (FDA), and growing third-party recognition from the biotechnology and scientific communities. Lunai has proposed a Phase I clinical trial evaluating its Dendritic Cell Combination Therapy (DCCT) across several high-need solid tumors, including pancreatic cancer, which currently has a five-year survival rate of just 13 percent.

"We are seeing accelerating validation from both researchers and industry partners," said David Weinstein, CEO of Lunai Bioworks. "Independent expert analysis confirms the strength of our data, while early licensing activity reflects growing confidence in this platform's potential to unlock scalable, off-the-shelf treatments capable of reaching the patients who need them most."

In a widely circulated post on LinkedIn, Benjamin McLeod, Founder of Convey Bio and Co-Host of Bio2Bedside, highlighted the study as a potential breakthrough in cancer immunotherapy.

In humanized mouse models of pancreatic cancer—one of the most lethal and treatment-resistant tumors—Lunai's DCCT achieved complete regression of both primary and metastatic lesions with no recurrence. These results demonstrate potent, multi-pathway immune activation.

Additionally, the late Dr. Anahid Jewett, Professor at UCLA and a leading authority in tumor immunology commented: "In our view, these results approach what could be called the 'holy grail' of cancer research. We observed an 80–90 percent reduction in tumor size and volume across two independent studies, with most of the remaining tissue consisting of immune cells rather than cancer cells."

Lunai is also advancing additional studies and expanding clinical reach for its DCCT platform through collaborations with leading investigators, including Dr. Steven Dubinett (UCLA) for non-small cell lung cancer and Dr. Xiaolin Zi (UC Irvine) for prostate cancer.

"Lunai's dendritic cell approach has the potential to overcome longstanding barriers in solid tumor treatment," said Dr. Dubinett, Dean of the David Geffen School of Medicine at UCLA.

Lunai's DCCT introduces a first-in-class, allogeneic immunotherapy designed to scale:

Lunai's DCCT leverages the natural antigen-presenting power of dendritic cells while eliminating the cost, time, and variability associated with patient-specific manufacturing.
The DCCT is manufactured from healthy donor cells and stored ready-to-use. This off-the-shelf model reduces manufacturing timelines from weeks to days, lowering the overall treatment cost.
In humanized mouse models of pancreatic cancer, one of the most lethal and treatment-resistant tumors, DCCT achieved complete regression of both primary and metastatic lesions with no recurrence.
Lunai Bioworks is preparing for formal licensing negotiations and pre-IND activities in early 2026, advancing toward clinical development of its dendritic cell therapy platform.

About Lunai Bioworks
Lunai Bioworks Inc. is an AI-powered drug discovery and biodefense company pioneering safe and responsible generative biology. With proprietary neurotoxicity datasets, advanced machine learning, and a focus on dual-use risk management, Lunai is redefining how artificial intelligence can accelerate therapeutic innovation while safeguarding society from emerging threats. For more, visit https://lunaibioworks.com.

SOURCE Lunai Bioworks Inc.

Five people on board an American Airlines flight were hospitalized after the plane was diverted due to an odor inside the flight deck and cabin, reports said.

The Federal Aviation Administration (FAA) said, "American Airlines Flight 2118 landed safely at George Bush Intercontinental Airport in Houston around 7:10 p.m. local time on Sunday, Nov. 23, after the crew reported fumes in the flight deck and cabin." 

"The Airbus A321 departed Orlando International Airport and was headed to Phoenix Sky Harbor International Airport," the FAA added. 

Four crew members and one passenger were taken to a hospital for treatment, FOX 4 News Dallas-Fort Worth reported, citing the Houston Fire Department. 

AMERICAN AIRLINES JET RETURNS TO LOS ANGELES AFTER PASSENGERS REPORT SICKENING FUMES 

An American Airlines Airbus A321 airplane taxis at Los Angeles International Airport on Oct. 17, 2025. (Kevin Carter/Getty Images / Getty Images)

It was not immediately clear what the odor was. 

"I'm gonna have some transports here out of the airport on this," a crew member was heard saying as the plane was diverted to Texas, according to KHOU. "Aircraft alert. I'm gonna need probably 4 transport units." 

Ticker Security Last Change Change % AAL AMERICAN AIRLINES GROUP INC. 13.10 +0.23
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The other passengers on board the plane were then moved to a different aircraft to continue to Phoenix. 

"On Nov. 23, American Airlines Flight 2118 landed safely and taxied to the gate under its own power at Houston (IAH) following reports of an odor on board. The flight re-departed on a replacement aircraft," American Airlines said in a statement Tuesday to FOX Business. "We thank our team members for their professionalism and apologize to our customers for their experience."

TRUMP AXES BIDEN PLAN THAT WOULD HAVE FORCED AIRLINES TO PAY PASSENGERS CASH FOR DELAYS 

An American Airlines Airbus A321 airplane departs Los Angeles International Airport en route to Orlando on March 30, 2025. (Kevin Carter/Getty Images / Getty Images)

The FAA did not immediately respond Tuesday to a request for further comment from FOX Business. 

In October, another American Airlines plane turned around shortly after taking off from Los Angeles International Airport (LAX) "due to reports of an odor in the cabin," the airline said. 

The pilots in that incident also reported to air traffic control that they smelled and tasted something that prompted them to put on oxygen masks in the cockpit, WABC-TV reported. 

An American Airlines passenger plane is parked at a gate at Ronald Reagan Washington National Airport on Aug. 24, 2025, in Arlington, Virginia. (Daniel Slim/AFP via Getty Images / Getty Images)

CLICK HERE TO READ MORE ON FOX BUSINESS      

The plane landed back at LAX safely, and seven passengers were evaluated, but no one was taken to a medical facility for further treatment, WABC reported. 

FOX Business’ Pilar Arias contributed to this report. 

This big pharma stock should be even more appealing to investors amid market turbulence.

You may have noticed that the markets are exceptionally volatile at the moment. That's true whether we're talking about stocks, cryptocurrencies, or commodities.

During turbulent times, many investors run for the hills. Some sell everything and park their money in cash. Others, however, seek safe havens. For example, value stocks in sectors that tend to perform well during choppy market conditions could appeal to many investors.

That brings me to Pfizer (PFE +0.72%). Is this the best value stock to buy while markets are volatile?

Image source: Getty Images.

Pfizer's volatility-resistant qualities
I've already alluded to one aspect of Pfizer that makes it resilient to volatility. Healthcare stocks typically fare better than most during stormy market periods. There's a simple reason why this is true: people need many healthcare products and services, regardless of what's happening with the economy or the stock market. This translates to relatively steady revenue and profits for healthcare companies.

Just look at Pfizer's top-selling blockbuster drugs. What doctor is going to stop prescribing Eliquis for patients with blood clots because the stock market is choppy? Will patients with transthyretin-mediated amyloidosis (ATTR) quit taking Vyndamax due to market swings? Of course not.

Pfizer's dividend could also make the stock more attractive to investors during market turbulence. The big pharma company's forward dividend yield is a juicy 6.9%. Importantly, Pfizer is generating ample free cash flow to cover the dividend payments.

Perhaps the most compelling proof of Pfizer's volatility-resistant qualities is the stock's five-year monthly beta of only 0.43. The lower the beta value is, the less volatile the stock is compared to the overall market.

Is Pfizer really a value stock?
This might seem to be a silly question, but is Pfizer really a value stock? After all, its shares trade at a forward price-to-earnings (P/E) ratio of 8.3. That's lower than Pfizer's historical average and only a fraction of the healthcare sector's forward earnings multiple of 18.2. However, there are two potential objections to classifying Pfizer as a true value stock.

First, the company's future growth prospects are suspect. Pfizer faces a major patent cliff. Autoimmune disease drug Xeljanz and blood thinner Eliquis lose U.S. patent protection next year (although generic rivals to Eliquis won't enter the market until 2028). Breast cancer drug Ibrance and prostate cancer drug Xtandi lose patent exclusivity in 2027.

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Second, the company's significant debt clouds the picture somewhat. Valuation metrics based on enterprise value arguably provide a better barometer for Pfizer. The pharma stock isn't expensive based on its enterprise value-to-EBITDA ratio of 10.2, but it's not quite as cheap as the forward earnings multiple suggests.

Still, I view Pfizer as a value stock. And I don't think it's a value trap, either. The drugmaker has enough products in its lineup that don't face losses of exclusivity in the near future and several promising late-stage pipeline candidates that should largely offset the anticipated revenue declines due to its patent cliff.

In particular, Pfizer's acquisitions have put it in a stronger position to successfully navigate its wave of exclusivity losses. The company's latest acquisition is the buyout of Metsera for up to $10 billion (around $7 billion upfront, with the remainder contingent upon achieving specified clinical and regulatory milestones). This deal holds the potential to make Pfizer a major player in the lucrative obesity drug market.

The best value stock to buy during high market volatility?
But is Pfizer the best value stock to buy during high market volatility? I wouldn't necessarily go that far. There are other contenders – and, quite frankly, I haven't researched all of them.

That said, I think Pfizer is a good value stock to buy when markets are turbulent. I like the ultra-high-yield dividend. I also think the company's growth prospects are better than they might appear at first glance.

The setup feels heavier than a typical Tuesday. You’ve got headline pressure, valuation worries, and a market that hasn’t given tech much room for error over the past week. Buyers are showing interest on dips, but today they’ll need more convincing.

Is Google Stealing a Bit of Nvidia’s Spotlight?
The Information reports that Meta is exploring Google’s tensor processing units starting in 2027 and may rent TPUs from Google Cloud as early as next year. That’s not an immediate blow to Nvidia, but it’s a clear signal that major buyers are testing alternatives.

Traders know Nvidia still dominates GPU supply for AI systems, yet Google’s custom chip strategy is gaining traction, and today’s premarket reaction shows how quickly investors react to competitive threats.

Alphabet is up roughly 3% after Monday’s rally, while Broadcom — a design partner for Google’s TPUs — is adding another 2% after an 11% jump yesterday.

Is Sandisk’s S&P 500 Debut a Sign of Tech’s Growing Weight?

November 25, 2025 06:30 ET

 | Source:

Nokia Oyj

Nokia Corporation
Stock Exchange Release
25 November 2025 at 13:30 EET

Nokia announces delisting from Paris Stock Exchange

Espoo, Finland — Following its announcement on 4 November 2025 regarding the resolution by the Board of Directors of Nokia Corporation (“Nokia”) to submit an application for the delisting of its shares (ISIN: FI0009000681) from the regulated market of Euronext Paris (the “Paris Delisting”), Nokia announces today that the Paris Delisting has been approved by the Board of Euronext Paris. It is currently anticipated that the Paris Delisting will take effect on 31 December 2025.

In April 2015, Nokia shares were listed on Euronext Paris in conjunction with the acquisition of Alcatel-Lucent to ensure trading continuity for shareholders in France. The decision to delist was made following a review of the trading volumes, costs and administrative requirements related to Nokia’s listing on Euronext Paris.

The Paris Delisting has been approved by the Board of Euronext Paris and will not have any impact on Nokia’s day-to-day operations in France, nor on Nokia’s listings on the official list of Nasdaq Helsinki or on the New York Stock Exchange, where the Nokia shares trade in the form of American Depositary Receipts.

A voluntary sales facility (the “Sales Facility”) will be put in place in accordance with Euronext Paris’ rules to allow shareholders to sell their Nokia shares listed on Euronext Paris and held through the facilities of Euroclear France (the “Nokia Euronext Shares”).

The holders of Nokia Euronext Shares will have the following options:

Not to participate in the voluntary Sales Facility and keep all of their Nokia Euronext Shares, which they will be able to trade on Euronext Paris until the delisting date (exclusive) and on Nasdaq Helsinki thereafter through the facilities of Euroclear Finland, subject to the terms applied by their financial intermediary and their custody arrangements; or To participate in the voluntary Sales Facility (described below) to sell all or part of their Nokia Euronext Shares, in accordance with the rules and regulations of Euronext Paris. For the avoidance of doubt, holders of Nokia Euronext Shares will be able to trade on Euronext Paris until 30 December 2025 (the last trading date prior to the Paris Delisting).

Procedure for the Voluntary Sales Facility
Shareholders who wish to sell all or part of their Nokia Euronext Shares through the voluntary Sales Facility should request that their financial intermediaries deliver their Nokia Euronext Shares to Société Générale, acting as the centralizing agent, from 2 December 2025 to 15 December 2025 (inclusive).

Nokia Euronext Shares delivered to Société Générale will be sold on Nasdaq Helsinki as of 2 January 2026 at the market price prevailing at the time of sale. For the avoidance of doubt, Nokia will not be a party to the sale of the Nokia Euronext Shares tendered in the Sales Facility, such facility being operated independently by Société Générale without Nokia’s involvement.

Société Générale will calculate the average sale price of the Nokia Euronext Shares sold through the Sales Facility during the sales period and transfer the proceeds of the sale to the participating shareholders once the corresponding funds are fully received.

Nokia will pay the fees for the centralization and the brokerage fees related to the sale of Nokia Euronext Shares delivered to Société Générale as part of the voluntary Sales Facility.

This voluntary Sales Facility procedure is also described in a Euronext notice to be published on 27 November 2025.

Please note that no guarantee can be given by Nokia or by Société Générale as to the price at which the Nokia Euronext Shares tendered pursuant to the voluntary Sales Facility will actually be sold. This process is being provided solely as an accommodation to holders of Nokia Euronext Shares.

Holders of Nokia Euronext Shares may decide not to participate in the voluntary Sales Facility or may decide not to take any action, in which case no guarantee can be given to them on the terms that will be applied by their financial intermediary after the Paris Delisting. Shareholders are invited to consult their own financial, tax, and legal advisors before making a decision whether to participate in this process or not.

The indicative calendar of the voluntary Sales Facility and the Paris Delisting is summarized in the table below (it being specified that Nokia reserves the right to amend this calendar):

EventDateEuronext notice regarding the Sales Facility27 November 2025Beginning of the voluntary Sales Facility period 2 December 2025End of the voluntary Sales Facility period 15 December 2025Last day of trading of Nokia’s shares on Euronext Paris30 December 2025Delisting of the Nokia shares from Euronext Paris31 December 2025Sale on Nasdaq Helsinki of the Nokia Euronext Shares tendered in the voluntary Sales FacilityBeginning on 2 January 2026Allocation of the net proceeds of the sale to the relevant financial institutionsAs soon as possible after the determination of the average sale price and the receipt of the funds Shareholders participating in the voluntary Sales Facility are reminded that they acknowledge and accept the risks related to the change in the share market price between the date on which their Nokia Euronext Shares are delivered to Société Générale for participation in the voluntary Sales Facility and the receipt of funds after the determination of the applicable average sale price. All tenders of Nokia Euronext Shares under the Sales Facility will be irrevocable.

Shareholders are invited to contact their financial intermediaries for further information regarding the procedures for participating in the Sales Facility.

Additional information will be available in a FAQ to be published on Nokia’s website.

About Nokia

Nokia is a global leader in connectivity for the AI era. With expertise across fixed, mobile, and transport networks, powered by the innovation of Nokia Bell Labs, we’re advancing connectivity to secure a brighter world.

Inquiries:

Nokia
Communications
Phone: +358 10 448 4900
Email: [email protected]
Maria Vaismaa, Vice President, Global Media Relations

Nokia
Investor Relations
Phone: +358 931 580 507
Email: [email protected]

FORWARD-LOOKING STATEMENTS 

Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia's current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including "anticipate", “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “could“, "see", “plan”, “ensure” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in our 2024 annual report on Form 20-F published on 13 March 2025 under Operating and financial review and prospects-Risk factors.

HOUSTON and LONDON, Nov. 25, 2025 (GLOBE NEWSWIRE) -- LyondellBasell (NYSE: LYB), a leader in the global chemical industry, today announced Agustin Izquierdo, executive vice president and chief financial officer, will participate in a fireside chat at the 2025 Goldman Sachs Industrials and Materials Conference in New York on Wednesday, December 3, 2025, at 9:20 a.m. EST.

Webcast and Presentation Slides Access
A live webcast can be accessed at the time of the event at https://investors.lyondellbasell.com/events-and-presentations/default.aspx. A replay of the event will be available at the same link within 24 hours following the webcast.

About LyondellBasell 
We are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.