Market Signal Briefing

Creates a global coatings leader with $17 billion in revenue and an enterprise value of $25 billionSignificant value creation with approximately $600 million in cost synergies supporting strategic and capital allocation priorities Combines highly complementary portfolios across end markets, driving stronger revenue growth, enhanced profitability and increased value for customers Expands geographic reach, brings together world-class technology and innovation platforms and offers a full spectrum of solutions to deliver exceptional value to customers Highly attractive financial profile featuring strong EBITDA margins and robust cash flow generationOne‑tier Board to be led by current Axalta Chair Rakesh Sachdev as Chair; AkzoNobel CEO Greg Poux-Guillaume to serve as CEO of the combined companyCombined company to transition to a single NYSE listing; dual headquarters in Amsterdam and Philadelphia and domiciled in the NetherlandsCompanies to host joint investor conference call November 18 at 8:30 a.m. EST / 2:30 p.m. CET AMSTERDAM and PHILADELPHIA, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Akzo Nobel N.V. (AKZA; AKZOY) (“AkzoNobel”) and Axalta Coating Systems Ltd. (NYSE:AXTA) (“Axalta”) today announced that they have entered into a definitive agreement to combine in an all-stock merger of equals, creating a premier global coatings company with an enterprise value of approximately $25 billion.

The combination brings together two coatings industry leaders with complementary portfolios of highly regarded brands to better serve customers across key end markets and enhance value for shareholders, employees and other stakeholders. Anchored in both companies’ proud histories and broad expertise, the combined business will have a highly attractive financial profile, industry-leading innovation capabilities and a balanced global footprint spanning over 160 countries to bring global capabilities to local customers. 

With attractive margins and robust cash flow generation, the combined company will be well positioned to drive substantial growth and shareholder value creation, building on 2024 revenues of approximately $17 billion and $1.5 billion in pro forma Adjusted Free Cash Flow.1,2,3 The combination is expected to drive identified and actionable run-rate synergies of approximately $600 million, 90% of which are expected to be achieved within the first three years following the close of the transaction.

Greg Poux-Guillaume, Chief Executive Officer and Chairman of the Board of Management of AkzoNobel, said, “We’re excited to enter a new chapter in our long and proud history as a leader in the paints and coatings industry. This merger will allow us to accelerate our growth ambitions by bringing together highly complementary technologies, expertise and passionate people to unlock our full combined potential. I am excited to lead our talented teams in bringing the best of both companies to our customers and shareholders, delivering outstanding value to both.”

Ben Noteboom, Chairman of the Supervisory Board of AkzoNobel, stated, “This combination represents a compelling opportunity. It’s a great value proposition for all our stakeholders both in the Netherlands, where we maintain our domicile and internationally, including our shareholders, customers and employees. It will create a world leader in coatings and is a significant step that will drive sustainable growth and allow us to better serve our customers. By uniting two world-class organizations, we’re creating a strong platform for the future, built on a solid foundation of shared values and heritage.”

Chris Villavarayan, CEO and President of Axalta, stated, “We are pleased to enter into this transaction with AkzoNobel and join our best-in-class platforms to enhance innovation, develop new capabilities and further strengthen customer relationships. As our industry continues to grow and evolve, this combination with AkzoNobel enables us to do the same, with a sharper competitive edge and new avenues and opportunities for growth. Together, AkzoNobel and Axalta are positioned to establish a profitable and sustainable path forward as a leader in the coatings industry. Like AkzoNobel, we value our people as our greatest asset, and we are excited to unite our rich, innovation-focused cultures.”

Rakesh Sachdev, Chair of the Axalta Board of Directors, stated, “The Axalta Board is confident that this combination with AkzoNobel will create significant value for our shareholders as we move ahead. Led by an experienced management team with a track record of operational efficiency and excellence, we expect the meaningful synergy opportunities and enhanced financial profile of the combined company will drive substantial value creation. We look forward to joining Axalta’s and AkzoNobel’s strengths to create new opportunities across our global stakeholder base.”

Compelling Strategic and Financial Benefits of the Transaction

Diversified and balanced portfolio of leading brands. The merger brings together AkzoNobel’s and Axalta’s complementary portfolios to create a full spectrum offering of coatings solutions, with first-rate franchises across Powder, Aerospace, Refinish, Mobility, Marine & Protective, Industrial Coatings and Decorative Paints. The combined portfolio will be differentiated by its breadth of solutions across approximately 100 well-known brands.Increased geographic scale and enhanced commercial reach. The combined company will have an enhanced global footprint spanning 173 manufacturing sites and 91 R&D facilities worldwide, enabling it to bring global capabilities to local customers. Through increased local presence in key geographies, AkzoNobel and Axalta customers are expected to benefit from deep channel access to coatings and product support, further strengthening customer relationships.Enhanced capabilities to deliver customer-centric innovation. The combination will enable AkzoNobel and Axalta to deliver increasingly advanced and differentiated products by combining existing technological capabilities across end markets. Joining Axalta’s Refinish, Light Vehicle and Commercial and Industrial Coatings businesses with AkzoNobel’s Powder Coatings, Refinish, Aerospace Coatings, Marine & Protective, Industrial Coatings and Decorative Paints businesses will create an innovative platform to deliver exceptional value to customers. In addition, sharing best practices across two leading research platforms in the coatings space, is expected to accelerate high-value innovation. The combined company will have approximately $400 million combined annual R&D spend, 91 global R&D centers for local customer needs, approximately 4,200 research fellows, scientists and engineers, and approximately 3,200 granted and pending patent applications.Substantial synergy opportunities driving value creation. The combination is expected to generate pre-tax run-rate synergies of approximately $600 million, with 90% of synergies expected to be achieved within the first three years following the close of the transaction. The targeted synergies are identified and actionable, arising primarily from procurement, SG&A efficiencies, footprint optimization and improved supply chain management.Highly attractive financial profile with strong margins and substantial cash flow generation. Inclusive of run-rate synergies, the combined company is expected to have industry-leading profitability with strong Adjusted EBITDA margins approaching 20% and substantial cash flow generation. Revenues are expected to be approximately $17 billion, with Adjusted EBITDA of $3.3 billion and pro forma Adjusted Free Cash Flow of $1.5 billion. This will provide significant flexibility to support strategic and capital allocation priorities, including consistent capital returns through a regular dividend. Net leverage is targeted to be 2.0x to 2.5x, with a strong commitment to holding an investment grade credit rating.  Leadership, Corporate Governance and Headquarters

Upon closing, the combined company will have a one-tier Board, led by Rakesh Sachdev, current Chair of the Axalta Board of Directors. Ben Noteboom, current Chairman of the AkzoNobel Supervisory Board, will serve as Vice Chair. The Board will be composed of 11 directors – four from each company and three independent members. Of the 11 Board members, two will be executive directors and nine will be non-executive directors. Each company expects to hold its respective Extraordinary General Meeting of Shareholders tentatively in mid-2026.

Current AkzoNobel CEO, Greg Poux-Guillaume, will serve as CEO of the combined company, and current Axalta CEO, Chris Villavarayan, will serve as Deputy CEO. Current Axalta SVP and CFO, Carl Anderson, will serve as the CFO of the combined company. Current AkzoNobel CFO, Maarten de Vries, will retire from AkzoNobel prior to closing as previously announced.

The combined company will assume a new name and ticker symbol, which will be announced in due course, and will have dual headquarters in Amsterdam and Philadelphia. It will be organized under a Dutch holding company with tax residency in the Netherlands. Following a period of dual listing on Euronext Amsterdam and the New York Stock Exchange (“NYSE”), shares of the combined company’s common stock will be listed solely on NYSE.

Transaction Details

Under the terms of the agreement, which has been unanimously approved by the AkzoNobel Supervisory Board, the AkzoNobel Board of Management and the Axalta Board of Directors, Axalta shareholders will receive 0.6539 shares of AkzoNobel stock for each share of Axalta common stock owned.

In connection with the transaction, AkzoNobel will pay a special cash dividend to AkzoNobel shareholders equal to €2.5 billion minus the aggregate amount of any regular annual and interim dividends paid by AkzoNobel to AkzoNobel shareholders in 2026 prior to completion. AkzoNobel shareholders will own 55% and Axalta shareholders will own 45% of the combined company on a pro forma basis immediately after closing.

The companies expect the transaction to close in late 2026 to early 2027, subject to approval by shareholders of both AkzoNobel and Axalta, the receipt of requisite regulatory approvals, authorization for the combined company’s shares to be listed on NYSE, payment of the special dividend by AkzoNobel, completion of AkzoNobel’s works council consultation requirements and the satisfaction of other customary closing conditions.

Dividends and Share Buybacks Between Signing and Close

In light of the announced transaction, both AkzoNobel and Axalta have agreed to suspend any ongoing or announced share buyback programs, effective immediately.

AkzoNobel intends to continue paying regular ordinary dividends in line with its existing dividend policy through closing, subject to customary approvals and applicable legal requirements. No extraordinary or additional distributions are expected from either company prior to completion, other than AkzoNobel’s special dividend pursuant to the transaction terms.

Advisors

Morgan Stanley & Co International plc is serving as sole financial advisor, De Brauw Blackstone Westbroek N.V. and Davis Polk are serving as legal counsel, and FGS Global is serving as strategic communications advisor to AkzoNobel. In addition, Lazard B.V. and Wakkie+Perrick are acting as financial and legal advisors, respectively, to the Supervisory Board from AkzoNobel.

Evercore and J.P. Morgan Securities LLC are acting as co-lead financial advisors to Axalta. Incentrum Group is also providing financial advice. Additionally, Cravath, Swaine & Moore LLP and NautaDutilh N.V. are serving as legal counsel, and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to Axalta.

Conference Call and Additional Materials

AkzoNobel and Axalta will host a joint investor conference call today at 8:30 a.m. EST / 2:30 p.m. CET to discuss the transaction.

The conference call will be available via live webcast on the investor relations section of each company’s website at https://www.akzonobel.com/en/investors/events and https://ir.axalta.com, or directly at the following web address: https://event.choruscall.com/mediaframe/webcast.html?webcastid=V5nvvQdI. Associated presentation materials will also be available for viewing on the respective websites prior to the call.

The conference call can also be accessed by dialing +1 (877) 407-4177 within the U.S. International numbers can access the conference call by dialing +1 (201) 689-8325 or by clicking here. An archive of the webcast will be available for one week.

About AkzoNobel

Since 1792, we’ve been supplying the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and use our expertise to sustain and enhance everyday life. Because we believe every surface is an opportunity. It’s what you’d expect from a pioneering and long-established paints company that’s dedicated to providing more sustainable solutions and preserving the best of what we have today – while creating an even better tomorrow. Let’s paint the future together.

About Axalta Coating Systems

Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enhance durability. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 140 countries better every day with the finest coatings, application systems and technology. For more information visit axalta.com and follow us @axalta on X.

Important Information
This is a joint press release by AkzoNobel and Axalta. This joint press release is issued pursuant to the provisions of Section 17, paragraph 1 of the European Market Abuse Regulation (596/2014) in connection with the intended recommended combination, via a merger of equals, of the businesses of AkzoNobel and Axalta.

General restrictions
This communication is not for release, publication, or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such release, publication, or distribution would be unlawful.

This communication is not a prospectus and the information in this communication is not intended to be complete. This communication is for informational purposes only and is not intended to be and shall not constitute a solicitation of any vote or approval, or an offer to buy or sell, or the solicitation of an offer to buy or sell, any securities, or an invitation or recommendation to subscribe for, acquire or buy securities of AkzoNobel or Axalta or any other financial products or securities, in any place or jurisdiction, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended (the “Securities Act”).

Any decision to purchase, subscribe for, otherwise acquire, sell or otherwise dispose of any securities must be made only on the basis of the information contained in and incorporated by reference into the prospectus with respect to the shares to be allotted by AkzoNobel in the proposed transaction once published. A prospectus in relation to the proposed transaction described in this communication is expected to be published in due course.

The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, AkzoNobel and Axalta disclaim any responsibility or liability for the violation of any such restrictions by any person. Neither AkzoNobel, nor Axalta, nor any of their advisors assume any responsibility for any violation by any person of any of these restrictions. Shareholders of AkzoNobel and Axalta, respectively, with any doubt as to their position should consult an appropriate professional advisor without delay.

This communication is addressed to and directed only at, persons who are outside the United Kingdom or, in the United Kingdom, at persons who are: (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (ii) persons falling within Article 49(2)(a) to (d) of the Order, or (iii) persons to whom it may otherwise lawfully be communicated pursuant to the Order (all such persons together being referred to as, “Relevant Persons”). This communication is directed only at Relevant Persons. Other persons should not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with such persons. Solicitations resulting from this communication will only be responded to if the person concerned is a Relevant Person.

Additional Information and Where to Find It
In connection with the proposed transaction between AkzoNobel and Axalta, AkzoNobel will file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form F-4, which will include a proxy statement of Axalta that also constitutes a prospectus with respect to the shares to be offered by AkzoNobel in the proposed transaction. The definitive proxy statement/prospectus will be sent to the shareholders of Axalta. Each of AkzoNobel and Axalta will also file other relevant documents in connection with the proposed transaction. This communication is not a substitute for any registration statement, proxy statement/prospectus or other documents AkzoNobel and/or Axalta may file with the SEC or any other competent regulator in connection with the proposed transaction. This communication does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISIONS, INVESTORS, STOCKHOLDERS AND SHAREHOLDERS OF AKZONOBEL AND AXALTA ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS, AS APPLICABLE, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT AKZONOBEL, AXALTA, THE PROPOSED TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus and other relevant documents filed by AkzoNobel and Axalta with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC from Axalta’s investor relations webpage at https://ir.axalta.com/sec-filings/all-sec-filings or from AkzoNobel’s investor relations webpage at https://www.akzonobel.com/en/investors.

The contents of this communication should not be construed as financial, legal, business, investment, tax or other professional advice. Each recipient should consult with its own professional advisors for any such matter and advice.

Participants in the Solicitation
This communication is not a solicitation of proxies in connection with the proposed transaction. However, under SEC rules, AkzoNobel, Axalta and certain of their respective directors and executive officers and other members of their respective management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests in the proposed transaction, by security holdings or otherwise, will be set forth in the proxy statement/prospectus and other relevant materials when it is filed with the SEC. Information regarding the directors and executive officers of Axalta is contained in Axalta’s proxy statement for its 2025 annual meeting of stockholders, filed with the SEC April 22, 2025, its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on February 13, 2025, subsequent statements of beneficial ownership on file with the SEC, including the Initial Statements of Beneficial Ownership on Form 3, Statements of Change in Ownership on Form 4 or Annual Statements of Beneficial Ownership on Form 5 filed with the SEC on: 2/19/2025, 2/19/25, 2/19/2025, 2/19/25, 2/19/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/4/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 3/6/2025, 8/5/2025, 8/18/2025, 8/21/2025, 9/23/2025 and 9/23/2025, and other filings made from time to time with the SEC. Information about AkzoNobel’s supervisory board members and members of the board of management is set forth in AkzoNobel’s latest annual report, as filed with the AFM, the Dutch trader register and on its website at https://www.akzonobel.com/en/investors/results-center, and as updated from time to time via filings made by AkzoNobel with the AFM. Additional information regarding the interests of persons who may, under the rules of the SEC, be deemed participants in the solicitation of Axalta security holders in connection with the proposed transaction, which may, in some cases, be different than those of Axalta’s shareholders generally, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement/prospectus and other relevant materials when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Market data
Information provided herein as it relates to the market environment in which each of AkzoNobel and Axalta operate or any market developments or trends is based on data and reports prepared by third parties and/or AkzoNobel or Axalta based on internal information and information derived from such third-party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data.

Cautionary Statement Concerning Forward-Looking Statements
This communication contains forward-looking statements as that term is defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, regarding, among other things, statements about management’s expectations of AkzoNobel’s and Axalta’s future operating and financial performance, product development, market position, and business strategy. Such forward-looking statements can sometimes be identified by the use of forward-looking terms such as “believes,” “expects,” “may,” “will,” “shall,” “should,” “would,” “could,” “potential,” “seeks,” “aims,” “projects,” “predicts,” “is optimistic,” “is confident,” “intends,” “plans,” “estimates,” “targets,” “anticipates,” “continues” or other comparable terms or negatives of these terms, but not all forward-looking statements include such identifying words. You are cautioned not to rely on these forward-looking statements. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. We can give no assurance that such plans, estimates or expectations will be achieved and therefore, actual results may differ materially from any plans, estimates or expectations in such forward-looking statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include: a condition to the closing of the proposed transaction may not be satisfied; the occurrence of any event that can give rise to termination of the proposed transaction; a regulatory approval that may be required for the proposed transaction is delayed, is not obtained or is obtained subject to conditions that are not anticipated; AkzoNobel and Axalta are unable to achieve the synergies and value creation contemplated by the proposed transaction; AkzoNobel and Axalta are unable to promptly and effectively integrate their businesses; management’s time and attention is diverted on transaction related issues; the possibility that competing offers or acquisition proposals may be made; disruption from the proposed transaction makes it more difficult to maintain business, contractual and operational relationships; the credit ratings of AkzoNobel or Axalta decline following the proposed transaction; legal proceedings are instituted against AkzoNobel or Axalta, including resulting expense or delay; AkzoNobel or Axalta is unable to retain or hire key personnel; the communication or the consummation of the proposed acquisition has a negative effect on the market price of the capital stock of AkzoNobel or Axalta or on AkzoNobel’s or Axalta’s operating results; evolving legal, regulatory and tax regimes; changes in economic, financial, political and regulatory conditions, in the Netherlands, the United States and elsewhere, and other factors that contribute to uncertainty and volatility, natural and man-made disasters, civil unrest, pandemics (e.g., the coronavirus (COVID-19) pandemic), geopolitical uncertainty, and conditions that may result from legislative, regulatory, trade and policy changes associated with the current or subsequent United States or Netherlands administration; the ability of AkzoNobel or Axalta to successfully recover from a disaster or other business continuity problem due to a hurricane, flood, earthquake, terrorist attack, war, pandemic, security breach, cyber-attack, power loss, telecommunications failure or other natural or man-made event, including the ability to function remotely during long-term disruptions; the impact of public health crises, such as pandemics and epidemics and any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets, including any quarantine, “shelter in place,” “stay at home,” workforce reduction, social distancing, shut down or similar actions and policies; actions by third parties, including government agencies; the risk that disruptions from the proposed transaction will harm AkzoNobel’s or Axalta’s business, including current plans and operations and/or divert management’s attention from AkzoNobel’s or Axalta’s ongoing business operations; certain restrictions during the pendency of the acquisition that may impact AkzoNobel’s or Axalta’s ability to pursue certain business opportunities or strategic transactions; AkzoNobel’s or Axalta’s ability to meet expectations regarding the accounting and tax treatments of the proposed transaction; the risks and uncertainties discussed in AkzoNobel’s latest annual report as filed with the AFM, the Dutch trader register and on its website at https://www.akzonobel.com/en/investors/results-center; and the risks and uncertainties discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in Axalta’s reports filed with the SEC. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the proxy statement/prospectus. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. We caution you not to place undue reliance on any of these forward-looking statements as they are not guarantees of future performance or outcomes and that actual performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Except as required by law, neither AkzoNobel nor Axalta assumes any obligation to update or revise the information contained herein, which speaks only as of the date hereof.

Non-GAAP and Non-IFRS Financial Measures
This communication contains certain non-GAAP financial measures and/or non-IFRS financial measures that AkzoNobel and Axalta believe are helpful in understanding the anticipated strategic and financial benefits of the proposed transaction. AkzoNobel's and Axalta's management regularly use a variety of financial measures that are not in accordance with GAAP or IFRS for forecasting, budgeting and measuring financial performance. The non-GAAP financial measures and/or non-IFRS financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP or IFRS measures. While AkzoNobel and Axalta believe that these non-GAAP financial measures and/or non-IFRS financial measures provide meaningful information to help shareholders understand the anticipated strategic and financial benefits of the proposed transaction, there are limitations associated with the use of these non-GAAP financial measures and/or non-IFRS financial measures. These non-GAAP financial measures and/or non-IFRS financial measures are not prepared in accordance with GAAP or IFRS, are not reported by all of AkzoNobel’s or Axalta’s competitors and may not be directly comparable to similarly titled measures of AkzoNobel’s or Axalta’s competitors due to potential differences in the exact method of calculation.

AkzoNobel Contacts

Investor Contact
Kenny Chae
+31 (0)88 - 969 0139
[email protected]

Media Contact
Diana Abrahams
+31 (0)88 - 969 7833
[email protected]

Axalta Contacts

Investor Contact
Colleen Lubic
+1 (610) 999-9407
[email protected]

Media Contact
Patricia Morschel
+1 (302) 290-3906
[email protected]

______________________________

1 Includes approximately $600 million of run-rate synergies.
2 Adjusted Free Cash Flow calculated as reported Free Cash Flow including post-tax synergies and excluding identified items.
3 Combined financial figures do not include adjustments necessary to align to a consistent accounting standard or set of accounting policies. All combined company financial figures represent the addition of each company's as reported metrics inclusive of synergies where applicable.

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Q3: 2025-11-17 Earnings SummaryEPS of $0.46 beats by $0.01

 |

Revenue of

$875.65M

(17.04% Y/Y)

beats by $13.97M

XP Inc. (XP) Q3 2025 Earnings Call November 17, 2025 5:00 PM EST

Company Participants

Andre Parize - Chief Investor Relations Officer
Thiago Maffra - Chief Executive Officer
Victor Mansur - Chief Financial Officer

Conference Call Participants

Eduardo Rosman - Banco BTG Pactual S.A., Research Division
Yuri Fernandes - JPMorgan Chase & Co, Research Division
Mario Pierry - BofA Securities, Research Division
Gustavo Schroden - Citigroup Inc., Research Division
Daniel Vaz - J. Safra Corretora de Valores e Cambio Ltda, Research Division
Thiago Bovolenta Batista - UBS Investment Bank, Research Division
Daer Labarta - Goldman Sachs Group, Inc., Research Division
Marcelo Mizrahi - Banco Bradesco BBI S.A., Research Division

Presentation

Andre Parize
Chief Investor Relations Officer

Good evening, everyone. I'm Andre Parize. Investor Relations Officer at XP. And it's a pleasure to be here with you today. On behalf of the company, I would like to thank you all for your interest and welcome you to our third quarter 2025 earnings call.

Today's presentation will be led by our CEO, Thiago Maffra, and our CFO, Victor Mansur, who will both be available for the Q&A session right after the presentation.

If you would like to ask a question, please use the raise hand feature on Zoom, and we will address them in the order we received. [Operator Instructions].

Before we begin, please refer to our legal disclaimers on Page 2, where we provide additional information regarding forward-looking statements. You can also find more information in the SEC filings section on our IR website.

Now I'll turn it over to Thiago Maffra. Good evening, Maffra.

Thiago Maffra
Chief Executive Officer

Thank you, Andre. Good evening, everyone. I appreciate you all joining us today for the third quarter 2025 earnings call. 2025 has been a very important year for XP as we have achieved significant progress on our agenda of excellence from the launch of

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Contact

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Investors and equity analysts:                       

Head of IR & ESG                                          Senior Investor Relations Officer
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AS 77 2025 - Alm. Brand Group hosts Capital Markets Day and releases financial targets for 2028

Alm. Brand - CMD 2025 - Unfolding the scale potential

Firefly, a compact electric vehicle brand owned by China's Nio , is seeking growth in right-hand drive markets that are free from punitive tariffs on Chinese EVs and is preparing to ramp up deliveries to those destinations next year.

Press release

Trifork partners with Loft Dynamics to scale qualified pilot training on Apple Vision Pro

San Francisco and Dübendorf, Switzerland — November 18, 2025 — Loft Dynamics, the pioneer behind the world’s first EASA- and FAA-qualified virtual reality flight simulators, announced a strategic partnership with Trifork, a global technology company and leader in spatial computing. Together, the companies are developing an industry-defining solution called LoftHOME, an at-home pilot training kit that extends Loft Dynamics’ qualified training ecosystem to Apple Vision Pro. This will allow Loft Dynamics to bring its high-fidelity, regulator-approved flight instruction to pilots anywhere, anytime and at scale.

For decades, pilot training has relied on full-motion simulators, which are trusted but costly and cumbersome, limited in number, and often far from where pilots live and work. That model restricts how often pilots can train and how flexibly operators can schedule instruction. LoftHOME aims to change that by delivering the same realism and rigor trusted by regulators in a flexible, immersive format on Apple Vision Pro.

LoftHOME: A seamless training flow from home to simulator and back 

The LoftHOME experience follows the complete training flow, from cockpit familiarization and procedure rehearsal in an immersive 3-D environment to briefing, in-simulator instruction, and post-simulator debriefing. It can be used with or without a Loft Dynamics simulator. Pilots and instructors can even join simulator sessions remotely, using the same software and environments found in Loft Dynamics’ full-motion simulators. The result is a seamless, connected learning journey that extends from home to training center and back again.

A shared vision for accessible, continuous training

“Our vision has always been to make the highest-quality pilot training safe and universally accessible,” said Fabi Riesen, founder and CEO of Loft Dynamics. “With Trifork, we’re bringing incredibly realistic, regulator-backed training into pilots’ everyday environments via Apple Vision Pro, from their living rooms to the airport gate. The goal isn’t just convenience; it’s continuity: a connected training ecosystem that links remote rehearsal with qualified simulator instruction, empowering pilots, instructors, and operators to train more often and more effectively. Trifork is the ideal partner to help scale this vision and deliver lasting impact across the aviation ecosystem.”

Engineering scale meets regulatory trust

“Trifork is pioneering spatial computing solutions that reshape how enterprises learn, train, and operate,” said Karan Yadav, CEO of Trifork North America and global lead for spatial computing. “Our work with organizations like Lufthansa Aviation Training shows how immersive tools can create real operational gains. This partnership with Loft Dynamics enables a new, flexible training model that can expand from initial skills development to regulated, multi-crew, airline-level instruction, all with a flexible, efficient and scalable spatial computing solution.”

What’s next?

Loft Dynamics and Trifork will launch pilot programs for LoftHOME with select airlines and training centers before expanding to additional use cases, including aircraft transition, multi-crew cooperation, and operational and emergency procedures. Each is designed to connect at-home rehearsal with in-center, regulator-credited training.

About Loft Dynamics

Loft Dynamics AG is the global leader in virtual reality (VR) flight training, and the first company with VR simulators qualified by both the FAA and EASA. Trusted by Alaska Airlines, Airbus Helicopters, the Los Angeles Police Department, and more, we serve the full aviation ecosystem – spanning commercial airlines, eVTOLs, and diverse helicopter operators, as well as schools, OEMs, governments, and regulators. Our mission is to make pilot training safer and more accessible, affordable and scalable than ever before. We produce full-motion VR simulators for helicopters, airlines, and eVTOLs that are ten times smaller and significantly more cost-effective than legacy simulators. We also provide a connected suite of solutions that integrate our simulators worldwide, including at-home training kits, virtual instruction from the world’s top pilots and AI-driven training intelligence. Loft Dynamics is leading a global paradigm shift in pilot training and powering the next generation of highly skilled pilots. Learn more at LoftDynamics.com.

Contact: [email protected]

About Trifork Group

Trifork (Nasdaq Copenhagen: TRIFOR) is a pioneering global technology company, empowering enterprise and public sector customers with innovative digital products and solutions. With 1,197 employees across 16 countries, Trifork specializes in designing, building, and operating advanced software in public administration, healthcare, financial services, manufacturing, energy, aviation, and retail. The Group’s R&D arm, Trifork Labs, drives innovation by investing in and developing synergistic, high-potential technology companies. Learn more at trifork.com.

Contact: Frederik Svanholm, Group Investment Director, +41 79 357 7317, [email protected]

Loft Dynamics partnership

Iris Coleman
Nov 18, 2025 05:34

OKX has announced the listing of Horizen (ZEN) for spot trading, with deposits opening on November 17, 2025, and trading commencing the following day.

OKX, a leading cryptocurrency exchange, has announced the addition of Horizen (ZEN) to its spot trading platform. This move underscores OKX's commitment to expanding its range of tradable digital assets, according to OKX.

Listing Timeline
The listing process for Horizen (ZEN) is set to unfold over several phases. Deposits for ZEN began at 13:00 UTC on November 17, 2025. A pre-open session is scheduled from 5:00 to 6:00 UTC on November 18, 2025, allowing traders to prepare for the market. Spot trading for the ZEN/USDT pair will commence at 6:00 UTC on the same day, with withdrawals becoming available at 8:00 UTC.

Risk Control Measures
OKX has implemented robust risk control measures to ensure a stable trading environment. The platform will employ index-based price limit rules during both the pre-open session and continuous trading. These rules are designed to mitigate volatility and protect traders from extreme market fluctuations. OKX has stated that it may adjust parameters or switch calculation methods based on market conditions without prior notice.

About Horizen
Horizen is a blockchain ecosystem that emphasizes privacy and scalability through the use of side chains. It provides a flexible platform for businesses and developers to create both public and private blockchains, as well as decentralized applications. The asset is identified by the ticker ZEN, and operates on a base chain with the contract address 0xf43eb8de897fbc7f2502483b2bef7bb9ea179229.

Market Implications
The inclusion of Horizen on OKX's trading platform is expected to enhance liquidity and accessibility for ZEN, potentially attracting a broader investor base. This listing could be particularly beneficial for traders looking to diversify their portfolios with privacy-focused blockchain assets.

OKX continues to expand its offerings, keeping pace with the evolving demands of the cryptocurrency market. By integrating Horizen, the exchange not only broadens its asset portfolio but also reaffirms its position as a versatile trading platform catering to diverse investor interests.

Image source: Shutterstock

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El Salvador has purchased 1098.19 BTC over the past 7 days, increasing its total holdings to 7474.37 BTC, worth $688 million.

The recent wallet activity signals progress in creditor repayments as legal proceedings and asset management efforts continue for Mt. Gox.

Key Takeaways

Mt. Gox moved $936 million in Bitcoin after eight months of inactivity.
The movement relates to the exchange's ongoing court-supervised creditor repayment process.

Mt. Gox, the defunct crypto exchange, moved $936 million worth of Bitcoin today after remaining dormant for eight months. The transfer involved shifting Bitcoin to a new wallet address, marking the first major activity from the exchange’s holdings since March.

The movement comes as Mt. Gox continues its court-supervised creditor repayment process. The rehabilitation trustee has extended the deadline for creditor reimbursements to allow more time for managing Bitcoin distributions.

Mt. Gox has been gradually shifting Bitcoin to new addresses as part of its ongoing efforts to repay creditors. The exchange collapsed in 2014 following a massive hack that resulted in the loss of around 850,000 Bitcoin.

The latest wallet activity suggests preparations may be underway for additional creditor payments, though the exchange has not disclosed specific timelines for distributions. Mt. Gox began returning funds to creditors in 2024 after years of legal proceedings.

Disclaimer

Follow up to the hour updates on what is happening in crypto today, November 18. Market movements, crypto news, and more!

Journalist

Posted: November 18, 2025

Key Takeaways
Will UNI’s uptrend continue now?
It might, but the lack of demand and on-chain accumulation may be a worrying sign of weakness from the buyers.

What can investors expect next?
The $8-$8.6 resistance zone will be a tough nut to crack. Underwater holders would add to the selling pressure if they look to exit the market at break-even. 

On Monday, 17 November, Lookonchain reported that a wallet linked to Amber Group had accumulated 1.41 million Uniswap [UNI] tokens. The analysis went further, noting that 1.39 million tokens were deposited to Coinbase Prime, likely for custody.

Accumulation of this kind is encouraging news. Earlier this month, UNI saw a rally from $4.73 to $10.3. It broke a key swing level at $8.6, and shifted the market structure on the 1-day timeframe bullishly.

An AMBCrypto report last week highlighted that a price dip to $6.86 might be likely at that time. This price dip has since come to pass, and Uniswap has bounced by 8.9% in the last four days. Now, the $8-level serves as resistance to the bulls.

At the time of writing, on-chain metrics indicated there’s a good chance of further gains. However, the selling pressure, despite the upward price trend, might be a worry.

Difficulties ahead for Uniswap bulls
On 11 November, when Uniswap was trading at $10, the mean coin age saw a sizeable drop. At the same time, the age consumed metric jumped higher. Together, these two metrics revealed a flurry of previously dormant tokens being moved on-chain.

This kind of movement generally reflects selling intent, and may be followed by a price correction to $6.86. During and after this correction, it was hoped that the mean coin age would begin to trend higher again.

It did not, and it has slowly slid lower. This lack of network-wide accumulation seemed to be a sign that investors on-chain did not believe in the bullish chances of UNI. The MVRV ratio fell into negative territory too to show that holders were, on average, facing a loss.

The lack of confidence and holders at a loss mean that any price bounce could run into selling pressure from holders trying to exit at break-even.

Finally, the exchange netflow metric for the token showed high inflows on 10-11 November, in agreement with AMBCrypto’s assessment of a hike in sell pressure.

On a positive note, the 10k-1M UNI holding wallets have grown in number over the last two months. Not all whale wallets have bought more UNI. However, the behavior of this cohort is still interesting.

Source: UNI/USDT on TradingView

Despite the bullish daily structure, the OBV appeared to be in a severe downtrend at press time. It made a lower low during the retracement, highlighting heavy sell pressure.

Unless organic demand grows quickly, it might be difficult for bulls to keep the rally going beyond the $8-$8.6 resistance zone.

One analyst noted $80,000 as a critical threshold, where a break below could lead to lows of around $74,000 seen in February.

Bitcoin continued its downtrend on Monday night, falling under $90K for the first time in seven months as a bearish sentiment gets hold of the crypto market. Even with the recent downturn and the tailwinds the industry is facing, bulls keep being positive.

Can the Ripple price hold near $2.15, or is the market preparing for another move toward lower levels?

Summary

XRP is trading near $2.15 after a steep slide from its July peak, with weak buying interest across key levels.
Technical indicators show soft momentum, and analysts warn that losing $2.12 could open a path toward $2.10 and $2.05.
ETF launches are drawing attention, but price action remains muted as many holders sit on losses and selling pressure stays elevated.

Ripple is under pressure. XRP is trading near $2.15 after a 5% decline in the past 24 hours and is now about 40% below its July peak of $3.65.

Analysts say the market structure has weakened as Bitcoin (BTC) has slipped below $90,000, mainly because a large share of Ripple (XRP) holders are sitting on losses, increasing the risk of further selling if sentiment deteriorates.

Tony Sycamore of IG Australia notes that the drop caught both long-term holders and new buyers off guard. Many had positioned for continued upside, while late entrants bought near the top out of fear of missing out.

Technical indicators are not offering support. XRP is below $2.20 and under the 100-hour simple moving average. A downward trend line near $2.22 continues to cap any attempt at recovery. The token also remains below the 23.6% Fibonacci retracement level, showing weak buying interest at current prices.

XRP price chart | Source: crypto.news
Momentum signals point the same way. The hourly MACD is firmly negative, and the RSI has slipped below 50. Analysts say that failure to clear $2.22 keeps the $2.12 support exposed. If that level breaks, a move toward $2.10 and $2.05 becomes likely.

This weakness appears even as investor interest in XRP ETFs is rising. The recent ETF launch attracted more attention than any other US ETF debut of 2025. Four additional spot XRP ETFs from Franklin Templeton, Bitwise, 21Shares, and CoinShares are set to follow.

JPMorgan estimates that these ETFs could draw $4–8 billion in their first year, adding institutional capital that XRP has not consistently received. A previous XRPR ETF launch in the US drove an 18% price gain ahead of trading and quickly gathered $150 million in assets.

Market behaviour today, however, has been muted. Prices continue to fall despite positive ETF activity, which shows that technical weakness and cautious sentiment are dominating near-term movement.

Some analysts argue that XRP may be stabilizing above $2, but they also point out that any meaningful reversal would require a move above $2.62. CoinGlass data shows heavy supply zones between $2.34 and $2.67, signalling that attempts to recover are likely to meet resistance.

Sycamore notes that a broader recovery requires a break back above $2.70 after clearing several intermediate hurdles including $2.22, $2.28, $2.32, and $2.40.

If buyers fail to protect $2.10, the decline could speed up, opening the path to $2.05 and potentially $1.88, which is about 12% lower than current levels. The next two trading sessions will show whether incoming ETF-driven demand can counter the ongoing pressure created by retail holders still underwater.

Bitcoin plunged under the $90,000 mark on Tuesday in Hong Kong trading, extending a sharp multi-week selloff that has erased all of its gains for 2025 and pushed sentiment to its lowest levels since the 2022 bear market. The move down to $89,420 on Coinbase — the lowest price since February — comes just weeks after the cryptocurrency hit a record high above $126,000, underscoring how quickly market momentum has shifted.

The decline accelerated after Bitcoin failed to reclaim the key $93,700 support level over the weekend. Breaking below its 200-day moving average triggered a bearish “death cross” between the 50-day and 200-day trendlines, a technical signal that often aligns with extended drawdowns when liquidity is waning. Current conditions reflect that pattern, with market depth thinning out and demand from major spot Bitcoin ETFs stalling.

U.S. spot Bitcoin ETFs, which saw over $25 billion in inflows earlier this year, have recorded nearly two weeks of flat activity. Investors appear cautious amid fears that the Trump administration’s tariff agenda could fuel inflation and push the Federal Reserve to delay anticipated interest-rate cuts. Corporate buyers that aggressively accumulated BTC in early 2025 have also pulled back.

Retail sentiment has deteriorated sharply. The crypto Fear & Greed Index fell to 11, signaling “extreme fear,” while Bitcoin’s social dominance surged as traders shift attention away from altcoins toward BTC during what may be a capitulation phase. Analysts caution that if Bitcoin cannot reclaim the $93,000 level soon, it could slide into a liquidity pocket between $86,000 and $88,000.

Still, some market observers believe the severe sentiment shock could set the stage for a short-term relief rally if ETF flows stabilize and macro data turns less hawkish. Investor Dan Tapiero noted that some capital may be rotating into stablecoins and tokenized real-world assets, but maintains that Bitcoin’s long-term fundamentals and institutional adoption remain strong, calling the current volatility “just noise.”

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

An influential cryptocurrency analyst predicted Monday when Bitcoin (CRYPTO: BTC) is likely to hit its bottom, even as the leading cryptocurrency crashed below $90,000.

Another Year Of Bearish Pain?Ali Martinez made a bold prediction for X, saying that the apex cryptocurrency would bottom in October 2026. They based their projection on the historical trend of Bitcoin bear markets lasting “364 days.”

Martinez cited examples from the 2017-18 market, where BTC bottomed in December 2018 after peaking in December 2017, and the 2021-22 market, when the leading cryptocurrency hit its lowest point in November 2022 after peaking a year ago.

“Assuming Bitcoin reached a market top on Oct. 6 at $126,200, the next market bottom could be in October 2026, presenting an ideal buying opportunity,” the analyst stated.

See Also: Nayib Bukele Goes ‘Hooah’ As El Salvador Buys $98 Million Worth Of Bitcoin In A Day Amid Crypto Meltdown

Crypto Market Retreats From HighsMartinez’s prediction comes at a time when leading cryptocurrencies, including Bitcoin, are experiencing sharp declines. Late Monday, Bitcoin sank below $90,000, marking its lowest point in nearly seven months.

Capital markets commentator The Kobeissi Letter highlighted that since Bitcoin’s all-time high, the cryptocurrency market has erased $1.2 trillion in market capitalization, amounting to 28% of its total value.

“It’s safe to say that crypto just experienced its ‘2025 bear market,'” The Kobeissi Letter remarked.

The Peaks And The TroughsWhile the likes of Martinez are already discussing market bottoms, popular Wall Street Strategist Tom Lee didn’t support the idea that the market has peaked, instead suggesting that the "next" cryptocurrency cycle top is 12–36 months away.

Meanwhile, the market’s “Extreme Fear” sentiment intensified,  according to the Crypto Fear & Greed Index, hitting levels last seen in the last week of February.

Price Action: At the time of writing, BTC was exchanging hands at $89,836.72, down 5.55% in the last 24 hours, according to data from Benzinga Pro.

Read Next: 

The Real Reason Behind Bitcoin’s Drop From $126,000 To $95,000 In 6 Weeks
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo by Frame Stock Footage via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The crypto market is set for a major shift as two new spot Solana ETFs begin trading today, expanding investor options even as SOL’s price faces sharp swings. Bloomberg ETF analysts confirmed that the Fidelity Solana ETF (FSOL) and the Canary Marinade Solana ETF (SOLC) will officially launch on Tuesday, bringing the total number of spot Solana ETFs in the U.S. market to five.

Fidelity’s FSOL becomes effective following an 8-A filing and will trade on NYSE Arca under the ticker FSOL. With a management fee of 0.25%, Fidelity enters the Solana ETF arena as one of the most influential asset managers to back SOL directly. Bloomberg’s Eric Balchunas highlighted that Fidelity is the largest asset manager participating in Solana ETFs so far, noting that BlackRock continues to limit its ETF lineup to Bitcoin and Ethereum. Bitwise’s BSOL has already surpassed $450 million in assets under management, signaling strong institutional interest.

Canary Capital, in collaboration with Marinade Finance, is also debuting the Canary Marinade Solana ETF (SOLC) on Nasdaq. The fund, which integrates Marinade as its staking partner, will carry a management fee of 0.50%. Bloomberg analyst James Seyffart confirmed the launch, emphasizing growing competition as new Solana ETFs enter the market.

Despite consistent inflows—nearly $400 million across all Solana ETFs—SOL’s price has been under pressure. The token dropped more than 20% over the past week and fell 9% today, currently trading around $134.35. Still, Solana rebounded more than 3% from its daily low, supported by a 60% surge in trading volume. Derivatives data from CoinGlass shows rising bullish sentiment, with total futures open interest climbing to $7.43 billion.

As institutional participation increases with these ETF launches, market watchers anticipate renewed momentum for Solana despite short-term volatility.

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The digital bank stock is up 81% this year.

Cathie Wood is known for her trend-setting tech sector investments, and she has become one of the most-watched investors, since followers watch to see what she'll spot before the market does.

She is firmly committed to tech disruptors, and her company's exchange-traded funds (ETF) sport curated groups of innovative tech stocks.

Unsurprisingly, SoFi Technologies (SOFI 2.80%) holds a significant position in the Ark Fintech Innovation ETF (ARKF 2.92%), which focuses on financial technology disruption. The digital bank continues to electrify the market and launch new, innovative financial products, demonstrating incredible growth and resilience.

SoFi accounts for 3.8% of the fintech ETF, but Ark was selling shares last week. Is this a signal as to how Wood feels about SoFi? And should you follow her lead?

Image source: SoFi.

Why SoFi stock has exploded
SoFi was one of the earlier digital banks to land on the scene. These days, probably every bank has an online portal, but SoFi is completely online and has no branches. While that might not appeal to some customers who want the security of having a bank they can walk into, it's attracting millions of users who prefer robust tech investments over costly real estate. This is a mostly younger clientele, and it's SoFi's sweet spot. The bank targets students and young professionals, people who are used to doing everything with their phone and want that experience for managing their finances.

Management has concentrated its efforts on developing a full platform to meet the needs of this population. Its strategy is to onboard these younger users and grow with them along their financial journeys. Since these users are often just getting started, that creates a reliable long-term revenue opportunity as a user needs more services, like graduating from a student loan to a savings account and a credit card, and then perhaps to an investment account and so on. Marketing costs have been one of SoFi's major expenses, but as it scales and cross-sells new products, it's making more money without adding customer acquisition costs.

Right now, it continues to break records each quarter for the amount of new customers it adds to the platform. Even when this eventually tapers off, it will still have high growth opportunities as these customers age and increase engagement with the platform.

More market share to capture, more disruptions coming
In the meantime, it's adding customers at a fast pace, including 905,000 new users in the third quarter, a 34% increase year over year, and one of the ways it's attracting new business is by adding innovative services.

It recently brought back cryptocurrency trading, for example, which it had to cut out when it got a bank charter due to regulatory measures. Those measures have changed, and SoFi recently relaunched the product. It is the only nationally chartered bank where customers can buy, sell, and trade certain cryptocurrencies straight from their SoFi Money app, using funds in their accounts instead of needing to open a separate account for cryptocurrency trading purposes.

It had also already announced that it's going to offer global remittances, a type of international wire transfer, straight on the app using the blockchain network. Management has committed to launching other blockchain-based products to make money management easy, quick, and cost-effective.

Today's Change

(

-2.80

%) $

-0.78

Current Price

$

27.04

Right up Cathie Wood's alley
Wood is usually a big fan of these kinds of products, so it's surprising that she was selling SoFi stock last week.

There could be various reasons why she was selling. One is just to free up cash, since she was buying other stocks for the fintech ETF, including DoorDash and Bitmine Immersion Technologies.

Another is that as SoFi stock rises, it's become more expensive. She hasn't sold that much of SoFi, and I wouldn't look at this trade as an indication of lost confidence in SoFi or its opportunities. It's likely to be a bit of both the reasons mentioned. Considering how much SoFi stock has rocketed higher this year, it's a good candidate for selling off a small portion if she needs the money for another opportunity.

Don't forget, she runs an investment company, so her job is to maximize gains, and her style is to take risks. The average investor may be better off finding a great stock like SoFi and holding on to it for many years as it continues to thrive.

On the other hand, demand expectations improved slightly as the U.S. government reopened, restoring activity across key sectors. Travel, holiday spending, and workforce mobility are likely to lift near-term consumption. However, structural oversupply remains the dominant force in the market. Until inventories tighten or supply risks intensify, oil prices may struggle to move higher despite occasional support from geopolitical events.

WTI Crude Oil (CL) Technical Analysis
WTI Oil Daily Chart – Consolidation
The daily chart for WTI crude oil (CL) indicates that the price is consolidating below the key $60 level, exhibiting negative price action. A break above $62.50 would signal further upside potential toward the $66 area. However, as long as the price remains below the 200-day SMA, the overall trend in the oil market remains bearish. Additionally, the RSI remains below the midpoint, signaling that sellers continue to drive weakness and negative momentum in the oil market.

LONDON--(BUSINESS WIRE)-- #Consumer--Latest research from Omdia shows that the Southeast Asia's smartphone market declined 1% in 3Q25, with shipments totaling 25.6 million units - the third consecutive quarter of year-on-year contraction. Samsung led the region with 4.6 million units and an 18% share, driven by its premium-leaning portfolio in higher-ASP markets such as Thailand, Vietnam and Malaysia. This helped offset competitors' gains in more price-sensitive markets like Indonesia and the Philippines.

Bitcoin is on the brink of registering one of the worst months in its market history, with ETF outflows accelerating, quarterly returns weakening and market sentiment plunging into extreme fear. The sudden reversal comes after the leading cryptocurrency slipped below the $100,000 mark, losing a key psychological level that once attracted strong institutional buying.

However, it is unclear whether El Salvador actually bought 1,090 BTC, as its deal with the IMF required the country to cease new purchases.