Senátor Richard Blumenthal vyšetřuje platby Tetheru poradenské firmě Nxum, kterou Bo Hines spoluzaložil. Hines je někdejší poradce Bílého domu pro kryptoměny.
Former White House crypto adviser Bo Hines, who is CEO of Tether's U.S. arm, is under scrutiny from a Senate Democrat for payments made to his consulting firm. (Jesse Hamilton/CoinDesk)Summary
U.S. Senator Richard Blumenthal keeps digging into Tether on behalf of the Senate Permanent Subcommittee on Investigations, this time looking at recent reports that a firm owned by former White House crypto adviser Bo Hines took millions while he was still helping shape stablecoin policy. Blumenthal, the ranking Democrat on the subcommittee, sent letters to Tether and the firm, Nxum, that was co-founded by Hines, who took a job as Tether’s top U.S. executive after leaving the White House. U.S. Senator Richard Blumenthal has added another Tether probe to the many irons he has in crypto fires, this time demanding answers about reported payments the company made to a firm owned by Bo Hines — the former White House crypto adviser who is now in charge of the U.S. arm of Tether.
Blumenthal, the ranking Democrat on the Senate's Permanent Subcommittee on Investigations, sent letters Thursday to Tether and to the consulting company Hines started with his father and another partner, Nxum Group.
"The highly unusual terms and nature of Tether’s business relationship with both Nxum and Bo Hines raise alarming ethical and legal concerns, indicating that Tether was likely well aware of the illegality and impropriety of issuing payments to a current White House official with such a direct role in shaping cryptocurrency legislation that was instrumental to its business," Blumenthal wrote to Tether CEO Paolo Ardoino.
The Wall Street Journal reported last week that Nxum had received large payments for consulting work for Tether when Hines was still advising President Donald Trump and his administration on crypto policy (including on stablecoin issuers significant to Tether). Blumenthal requested details of those business arrangements.
“Tether is aware of the allegations reported in The Wall Street Journal that form the basis of Senator Blumenthal’s letter,” the company said in a statement. “External counsel previously conducted an in-depth internal investigation into the matter, which found no evidence of wrongdoing.”
CoinDesk had been first to report earlier that Hines' company — which had little track record or experience in politics — was making millions of dollars as the main campaign-advertising provider for a political action committee associated with Tether.
Hines' family firm, Nxum, has recently hired another official that worked as a White House crypto adviser, Harry Jung. The office that advised Trump on crypto issues has since gone vacant, with the departure of Patrick Witt, who had replaced Hines as its executive director.
Blumenthal has been focusing significant attention on crypto, including on Trump's memecoin, crypto backers of the president's projects, Trump family crypto firm World Liberty Financial, activities at Binance and especially on Tether. He issued a report on its financial connections to Iran, and he more recently demanded answers about Tether's connection to its U.S. financial partner, Cantor Fitzgerald.
Tether's Ardoino criticized the senator's work this week, saying Blumenthal ignored important information and shared his report with the press before giving the company a look or a chance to respond.
Though Blumenthal's party has been in the Senate minority during Trump's time in office, the still-narrow odds of Democrats taking back that chamber have improved in recent weeks. If Blumenthal returns to chair the investigations subcommittee, it would grant him significantly greater powers to subpoena and control the agenda, and he's made it clear that crypto would be high on his list of topic areas. Prediction market Kalshi gives Democrats a 69% chance at the moment.
Read More: Top Democrat among Senate investigators probes ties between Cantor Fitzgerald, Tether
UPDATE (October 22, 2026, 23:36 UTC): Adds comment from Tether.
Saab ve třetím čtvrtletí získal nové zakázky v hodnotě 65,8 miliardy SEK, což je meziročně více než trojnásobek, včetně kontraktu na 16 stíhaček Gripen E pro Ukrajinu v hodnotě 24,6 miliardy SEK.
Swedish defense giant Saab reported better-than-expected third-quarter earnings and revenue on Friday, as new orders more than tripled from a year earlier, boosted by a deal to supply Gripen fighter jets to Ukraine.
New orders came in at 65.8 billion Swedish kronor ($6.6 billion), up from 20.9 billion kronor a year earlier, beating FactSet expectations of 56.4 billion kronor.
Third-quarter sales reached 20.6 billion kronor, ahead of FactSet expectations of 20 billion kronor. Earnings before interest and taxes (EBIT) came in at 1.95 billion kronor, also beating forecasts of 1.9 billion kronor.
The results come as European governments race to turn defense spending pledges into military capability.
Saab's order intake included a 24.6 billion kronor contract for 16 Gripen E fighter jets for Ukraine, signed in June and booked in the third quarter. Deliveries are scheduled for 2029-2030.
"The growing customer demand is reflected in major contract awards, including Gripen for Ukraine, GlobalEye and an order related to Germany's new frigates," CEO Micael Johansson said in a statement.
Orders booked in the quarter also include a 10.1 billion kronor order for its military surveillance aircraft GlobalEye to an undisclosed customer in the Middle East, and an 8.7 billion kronor order for systems for German frigates.
European defense stocks over the past 12 months.
Saab, whose products range from Gripen fighter jets and submarines to missiles and advanced electronics, has seen exponential order growth since Russia's full-scale invasion of Ukraine in early 2022.
Even with an ever-growing order book, booming sales, and increasing profitability, Saab stock, like many of its peers, has taken a hit in recent months as some investors question whether valuations have run ahead of the industry's ability to deliver.
BNB Chain se ve 3. čtvrtletí 2026 stala lídrem v obchodování s tokenizovanými akciemi s objemem 25,6 miliardy USD a hodnotou nabídky tokenizovaných akcií ve výši 1,13 miliardy USD.
BNB Chain has emerged as the leading blockchain for tokenized-equity trading in the third quarter of 2026, recording approximately $25.6 billion in transactions and $1.13 billion in tokenized stock supply.
Summary
BNB Chain recorded $25.6 billion in tokenized-equity trading during Q3 2026, roughly eleven times the previous quarter. Blockworks ranked BNB Chain first among tracked networks for tokenized-equity trading, supply and holder count. Tokenized-equity supply reached $1.13 billion, while the network recorded approximately 1.8 million holders at quarter-end. Network revenue rose 54% to $54.2 million, although average daily active addresses declined 14%. Lending deposits grew 42% to $3.57 billion, with tokenized equities accounting for less than 2%. Meanwhile, the network ranked first among tracked chains for tokenized-equity trading volume, outstanding supply and holder count, according to the Blockworks Q3 token-holder report. The report recorded growth in lending deposits and network revenue, although some user activity indicators declined.
BNB Chain had a huge Q3, ranking #1 among all chains in tokenized equity trading volume, supply and holders.
The latest quarterly report by @Blockworks shows how that momentum extended into stronger network earnings, growing lending markets, core infrastructure upgrades, BNB… https://t.co/15ZF2KWf83
— BNB Chain (@BNBCHAIN) October 22, 2026 BNB Chain leads tokenized equity trading across tracked networks Tokenized-equity trading reached $25.6 billion during Q3, compared with $2.4 billion in the preceding quarter. Decentralized exchange venues accounted for $24.4 billion, while Ondo Global Markets contributed another $1.2 billion.
Blockworks compared $45.8 billion in tokenized-asset DEX trading across its tracked networks, excluding pairs involving memecoins. Within that dataset, BNB Chain held more than half the volume, ahead of Robinhood Chain’s $10.2 billion and Solana’s $6.4 billion.
BNB Chain tokenized equities trading volume by venue, source: Blockworks The trading surge followed bStocks’ June 11 launch, making Q3 its first complete reporting quarter. Activity peaked on July 26, when tokenized-asset DEX trading reached $1.2 billion in a single day.
Much of that activity centered on QQQB, the tokenized Invesco QQQ ETF product, which generated approximately 80% of bStocks’ DEX volume. Other traded products included SPCXB, SPYB and NVDAB, while the Native trading venue handled approximately 36% of bStocks volume.
Although trading accelerated, volumes moderated after the July peak. From mid-August, weekly activity generally ranged between $600 million and $1.1 billion, with one week in September reaching $2.1 billion.
Tokenized stock supply doubles to $1.13 billion By September 30, BNB Chain held approximately $1.13 billion in tokenized public equities, compared with $560 million at the end of Q2. That represented 39% of the $2.89 billion supply tracked across blockchains.
The report placed the network’s tokenized-equity holder count at approximately 1.8 million, equivalent to 38% of its tracked cross-chain total. bStocks accounted for $810 million of the network’s tokenized-equity supply.
BNB Chain’s position comes during growing competition among blockchain networks supporting tokenized financial products. A recent tokenized-equities market report found that DEX activity had spread across multiple networks as issuers expanded their product offerings.
Robinhood Chain’s DeFi total value locked stood near $1.14 billion on October 22, according to DefiLlama. However, that figure measures deposits across decentralized finance applications and cannot be directly compared with BNB Chain’s tokenized-equity supply or quarterly trading volume.
BNB Chain revenue climbs 54% despite lower active addresses Network real economic value, or REV, reached $54.2 million during Q3, rising 54% from $35.2 million in Q2. The total consisted of $49.1 million in transaction fees and $5.1 million in payments associated with maximal extractable value.
Blockworks calculated token-holder net income at $45.1 million, up 57% from the preceding quarter. Under its methodology, the measure combines delegator rewards and BNB burned through the BEP-95 mechanism.
BNB Chain transactions, source: Blockworks BNB Smart Chain processed 1.51 billion transactions, an increase of 7.5%, while average transaction fees climbed to $0.032. Daily active addresses, however, declined 14% to 2.10 million, indicating that transaction growth did not coincide with growth in active addresses.
The Pasteur hard fork activated on August 25, changing the network’s block-building process. Its BidBlock V2 system subsequently produced approximately 98% of blocks and averaged 28% more gas per block than the previous approach.
Lending deposits rise as BNB supply continues falling Lending deposits reached $3.57 billion at quarter-end, growing 42% from $2.51 billion, while outstanding borrowing climbed 33% to $940 million. Tokenized equities used in lending markets grew from $6 million to $62 million, although they represented less than 2% of total deposits.
Meanwhile, stablecoin supply declined 4.6% to $13.22 billion, largely because of lower USD1 balances. Non-stablecoin real-world asset supply increased 24% to $4.96 billion, including $3.77 billion in tokenized Treasuries.
BNB Chain RWA supply by asset class, source: Blockworks BNB’s quarterly supply reductions continued after the reporting period. The network’s 37th quarterly token burn removed approximately 1.646 million BNB on October 19, worth around $1.2 billion at the time.
In an October 21 update, BNB Chain said the remaining supply stood near 131.51 million BNB. The network continues using quarterly auto-burns and BEP-95 transaction-fee burns toward its long-term target of 100 million BNB.
Circle spustil Circle Match, systém hodinových aukcí pro institucionální emisi a zpětný odkup USDC. Spárovaní emitenti získají slevu na poplatcích, zatímco poplatky za odkupy jsou omezeny sazbou Express.
Circle has launched a new way for big players to move between dollars and USDC. Once an hour, buyers and sellers meet in an auction instead of each dealing with Circle separately.
The service, called Circle Match, went live on October 22, 2026. It runs hourly batch auctions that pair USDC mint orders with redemption orders. Minters whose orders get matched receive a rebate, and redeemers clear at or below Circle’s Express rate.
How the hourly auction works Start with the basics. Minting means handing over US dollars and getting freshly created USDC. Redeeming is the reverse: you return USDC and receive dollars.
The auctions run hourly. Orders are batched, then cleared at a single, uniform clearing fee expressed in basis points. A basis point is one hundredth of a percent, the unit traditional finance uses when pennies matter.
The fee split is where it gets interesting. Matched mint orders receive a full rebate of that clearing fee. Redemption participants pay it, but their cost is capped by Circle’s Express rate.
So minters can get paid for showing up, while redeemers get to name their price, with a guaranteed ceiling. Those selling USDC back to Circle will never pay more than they would through the Express route, and they may pay less.
Throughout the process, USDC stays pegged 1:1 to the US dollar. The auction determines the fee, not the exchange rate.
Prefunding, segregated accounts and the $100 floor Circle Match runs on a prefunded model. Every participant must put assets in place before the auction clears.
On the redemption side, participants reserve USDC from their existing Circle Mint wallets. On the mint side, participants wire US dollars into a segregated Match fiat account.
When the auction settles, those wired deposits become restricted, Match-only USDC. The tokens are earmarked for the matching system rather than floating freely.
Prefunding means no one is promising money they have not yet delivered. That sharply reduces counterparty risk, the danger that the other side of a trade fails to pay up.
It also allows atomic settlement. Both legs of a matched trade complete together, or neither does.
The minimum order size for redemption is $100 USDC. Access is not open to the general public. Only eligible Circle Mint customers can use the service.
Why Circle is building this Circle Mint is the channel institutional customers already use to create and redeem USDC directly with the issuer. Circle Match sits on top of that relationship, reusing existing Mint wallets for redeemers.
That design choice matters. Institutions do not need to open an entirely new pipeline to participate. They plug into infrastructure they already rely on, then choose whether to route orders through the hourly auction.
Participants have the flexibility of setting their fee parameters, which can lead to cost reductions for matched volumes when compared to traditional methods of minting or redeeming USDC.
What this means for USDC and its users For institutional desks, the most immediate effect is cost. Minters that get matched can earn a rebate rather than paying to enter. Redeemers gain price control while keeping the Express rate as a backstop.
The tradeoff is time. An hourly auction is not instant. Firms that need dollars immediately may still prefer the Express route, which the auction treats as its ceiling.
The prefunding requirement means locking up capital before the auction clears. Institutions will weigh the potential rebate or fee savings against keeping that money parked in advance.
Matching works best when mint and redemption demand roughly balance. In a stretch where nearly everyone wants out, there may be few minters to pair with, and redeemers would fall back toward the Express rate.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
ValueChain‘s SoDEX trading and wealth application has integrated Morpho, the on-chain credit network that reported more than $16 billion in deposits as of October 2026. The integration allows SoDEX users to deposit USDC into a Morpho Vault curated by Unified Labs, earning yield generated by borrowing activity across the markets to which the vault allocates. The product is live now at sodex.com/wealth.
The vault’s allocation policy, collateral parameters and risk limits are set by Unified Labs, which describes itself as Asia’s first institutional-grade risk curator focused on the intersection of real-world assets and decentralised finance. Deposits and redemptions are handled within the SoDEX interface, removing the need for a separate wallet connection or a standalone DeFi workflow.
How the product works
The earn product sits inside SoDEX Wealth and is enabled by the ValueChain-Base bridge, which routes stablecoin deposits from ValueChain’s layer-one blockchain onto the Base network where the Morpho Vault operates. Yield accrues from borrowing demand rather than from token emissions, a structural distinction that matters to institutions and advisers assessing sustainability of returns. The release did not disclose an indicative annual percentage yield or detail the specific collateral types the vault currently accepts.
May Wang, co-founder of ValueChain, framed the integration as a diversification of the ecosystem’s opportunity set further along the risk spectrum, consistent with ValueChain’s stated aim of giving self-custodial investors access to a range of on-chain financial products alongside spot and perpetuals trading and AI-powered research.
For Morpho, the deal is primarily a distribution move into Asia-Pacific. Shanshan Shui, APAC go-to-market lead at Morpho, said the integration allows the protocol to reach SoDEX and SoSoValue users inside their existing interface, rather than requiring those users to navigate to Morpho directly.
Market context
The integration illustrates a structural pattern that has accelerated across the DeFi and crypto-adjacent fintech space: protocols such as Morpho, Aave and Compound are increasingly positioned as shared yield infrastructure that product teams embed rather than replicate. Morpho’s publicly listed partners include Coinbase, Robinhood and Société Générale, which signals an appetite among regulated and semi-regulated distribution platforms to access on-chain credit yield without building the underlying credit infrastructure themselves.
From a regulatory standpoint, the product occupies a zone that regulators in multiple jurisdictions are actively examining. In the European Union, the Markets in Crypto-Assets regulation came into full application in 2024 and covers certain stablecoin and crypto-asset service activities, though pure DeFi protocols sit in a grey area pending further Commission guidance. In Singapore, where ValueChain is based, the Monetary Authority of Singapore has indicated that yield-bearing digital-asset products may attract licensing requirements depending on their structure. Neither ValueChain nor Morpho addressed the regulatory framing of the earn product in the release.
Unified Labs’ role as vault curator is the risk-management layer that makes the product viable for a broader audience. Louis Wan, co-founder and chief executive of Unified Labs, said Morpho is becoming the yield layer that fintech platforms integrate rather than rebuild, which captures the infrastructure logic of the arrangement. Whether the vault’s curated parameters are sufficient to satisfy institutional or regulated-platform risk standards will depend on how Unified Labs documents and publishes its collateral and allocation methodology over time.
AI level 1 of 5: written by Darlyn Ho; AI helped with tone, structure or wording; edited and signed off by Mark Walker, Editorial Director. What the levels mean
Zcash za posledních 24 hodin klesl o 3,78 % na zhruba 1 225 USD, zatímco otevřený zájem na futures kontraktech na ZEC se snížil o 12,45 % na 2,37 miliardy USD.
Zcash price has fallen 3.78% over the past 24 hours to approximately $1,225 on October 23, as traders reduced derivatives exposure following the cryptocurrency’s recent recovery.
Summary
Zcash price fell 3.78% to approximately $1,225 on October 23, extending its volatile October trading pattern. ZEC futures open interest dropped 12.45% to $2.37 billion, pointing to reduced outstanding derivatives exposure. Technical indicators show resistance near $1,234 and $1,250, while $1,200 remains an important support area. Analyst Ali Martinez identified a potential recovery toward $1,350 if ZEC can defend its nearby support levels. Zcash’s upcoming NU7 upgrade remains a development catalyst, although its market impact is not guaranteed. At the same time, ZEC open interest declined 12.45% to $2.37 billion, while futures trading volume fell 10.28% to $7.23 billion, as per CoinGlass derivatives data. The simultaneous declines in price and outstanding positions suggest traders have been closing leveraged positions, although the figures do not establish whether long liquidations or voluntary exits drove the selloff.
The latest crypto.news price data places ZEC between a 24-hour low of $1,187.54 and a high of $1,281.24. The cryptocurrency has lost approximately 24.19% over the past month, despite recovering from lower prices recorded during October.
At approximately $1,225, ZEC remains around 14.8% below its October 1 opening price of $1,438.21. The token’s market capitalization stands near $20.82 billion, with daily spot trading volume approaching $1 billion across the reported market snapshot.
Much of the selling follows a period of considerable price volatility. ZEC recently recovered toward $1,300, giving short-term holders an opportunity to secure gains after the rebound, although available data cannot confirm how much selling came from profit-taking.
On October 19, crypto.news reported on Zcash’s recovery above $1,100 following a decline toward $1,050. That report recorded $2.29 billion in futures open interest and $13.55 million in daily liquidations, showing that leveraged trading remained substantial during the rebound.
ZEC derivatives open interest drops 12.45% The latest contraction in open interest indicates that the total value of outstanding ZEC futures positions has fallen. At $2.37 billion, however, derivatives exposure remains substantial compared with the cryptocurrency’s daily spot trading activity.
Zcash (ZEC) open interest, source: CoinGlass Futures turnover reached approximately $7.23 billion during the reported period, considerably exceeding spot volume. The difference reflects activity across derivatives and spot markets with different trading mechanisms and should not be interpreted as an equivalent amount of selling pressure.
Previous ZEC leveraged trading analysis documented a similar contraction in September, when open interest on OKX declined faster than the underlying price. That episode showed traders reducing outstanding exposure during a correction without establishing which side initiated the move.
For October 23, falling price and open interest are consistent with a reduction in leveraged positioning. Confirming forced long liquidations would require matching liquidation records, funding rates and directional positions over the same reporting period.
Zcash price prediction: Can ZEC reclaim $1,350? The technical outlook remains mixed, with ZEC trading above its nine-day moving average of $1,199.81 but below its 21-day moving average of $1,233.95. This positioning suggests the latest recovery has not yet overcome resistance from the longer short-term average.
The nine-day average remains below the 21-day average, preserving a bearish crossover. Meanwhile, the Relative Strength Index stands at 48.78, above its signal average of 45.84 but still below the neutral 50 level.
Zcash (ZEC) price chart, source: TradingView Crypto analyst Ali Martinez identified a TD Sequential sell signal near $1,350, followed by a reported 6.44% correction. He subsequently highlighted a buy signal and suggested that holding $1,250 could allow ZEC to recover toward $1,350.
However, with Zcash price trading near $1,225 in the latest snapshot, the $1,250 level now represents an area the market must reclaim. A sustained move above $1,233.95 and $1,250 could improve the recovery outlook, with $1,350 becoming the next notable resistance.
Another analyst, Crypto Yoda, identified $1,360 as an important breakout level after ZEC moved beyond a descending channel. The analyst suggested $1,700 as a possible subsequent target if buyers establish support above that resistance.
$ZEC FINALLY BROKE THE BS DOWNWARD TREND
Been stuck in that descending channel for weeks, and now we’re finally seeing some strength
$1,360 i would like to see
If bulls can flip that resistance, $1,700 comes back into the picture
Not calling it a guaranteed moonshot, but i… pic.twitter.com/BfGNo0h2Rt
— Crypto Yoda (@_CryptoYoda) October 22, 2026 On the downside, losing $1,199.81 would leave the recent low near $1,187.54 exposed. Further weakness could bring the $1,100–$1,000 support region into consideration, particularly if falling prices coincide with another contraction in futures positioning.
Zcash NU7 upgrade remains a November catalyst Beyond derivatives activity, investors are monitoring the proposed NU7 network upgrade, with developers targeting an activation around November 5. The changes include reducing target block times from 75 seconds to 25 seconds while maintaining approximately the same issuance rate over time.
The NU7 upgrade timetable includes changes to older transaction formats and a mechanism reserving part of transaction fees for future miner rewards. The November activation remains subject to the network’s final upgrade configuration and implementation requirements.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Návrh Bitcoin Improvement Proposal (BIP) 360 pouze snižuje riziko kvantových útoků tím, že omezuje expozici veřejných klíčů; plná postkvantová ochrana vyžaduje nové opkódy.
On 2nd September 2026, engineers within the Tezos ecosystem built a post-quantum previewnet, covering user keys, consensus, and randomness generation.
Though the launch was experimental, it was still further than any major chain has ever gone.
The market noticed. In fact, AMBCrypto reported that XTZ rallied by 30% after the news, hitting a four-month high on an 878% volume surge. Open Interest climbed by 44%, while derivatives volume spiked by 272%.
Tezos’s co-founder Arthur Breitman has been blunt about the stakes. Previously, he has called Bitcoiners’ quantum theories “half-baked crank theories about quantum mechanics.” However, in a recent conversation with AMBCrypto, he clarified,
The crank theories represent a small group of people, though there’s a broader group that sees no urgency, or believes Bitcoin can handle post quantum without any soft or hard fork.
Urgency comes from Google’s “9-minute problem” What exacerbated the debate on crypto and quantum computers? Well, in March 2026, Google published a research paper that compressed the timeline of the quantum threat from a “2040s problem” to a preparation window for “2030–2035.”
The paper cut the estimated physical qubits needed to break Bitcoin’s elliptic curve cryptography by roughly 20x — From millions to fewer than 500,000.
That paper triggered a scramble in the industry. What was even more notable was the “9-minute problem.” For the uninitiated, public keys are exposed in Bitcoin’s mempool while the network confirms it.
Google’s paper also claimed a powerful enough quantum computer could potentially extract a key within approximately 9 minutes under specific assumptions. And Bitcoin’s average block time is 10 minutes.
Google puts the odds of a successful hijack at 41% — not a guarantee, but much too close for comfort.
However, Maksym Sakharov, CEO & Co-Founder of WeFi, told AMBCrypto,
I would be careful about treating the 41% figure as a prediction of what will happen in practice.
He explained,
Google’s paper models a specific attack scenario under a defined set of assumptions, including a sufficiently capable fault-tolerant quantum computer, a public key becoming available almost immediately, and conditions that can favor either the attacker or the legitimate user depending on network behavior.
According to Google’s paper, the attack doesn’t need to crack your cold wallet or steal your seed phrase. It just needs to catch your transaction in that brief window when your key is visible.
Sakharov, talking about the long-term, hypothesized,
Preparation matters more than prediction. The objective should be to ensure that migration paths, governance, and upgrade mechanisms are in place well before advances in quantum computing become an operational concern.
It’s not so easy for Bitcoin For Bitcoin, however, the problem can get even more complicated. Glassnode’s May 2026 research found that over 6 million Bitcoin, or roughly 30% of BTC’s current supply, sits in addresses where the public key is already visible on-chain. That’s roughly $500–600 billion ripe for the taking.
And yet, the contrast between the exchanges is striking. About 1.66 million BTC held on exchanges falls into the exposed category — roughly 40% of all operationally exposed Bitcoin. Coinbase has 5% exposure; Fidelity at 2%.
Binance sits at 85%. Bitfinex, Robinhood, and several others are at or near 100%.
Christopher Smith, co-founder and CEO of Quantus, elaborated on Bitcoin’s exposure problem in conversation with AMBCrypto.
It’s a solvable technical problem, but the social coordination is the difficult part. For various reasons, Bitcoin has cultivated a culture of not changing, but it really is a cultural issue more than a technical issue. If we had a post-quantum address type, then most big addresses could migrate within a few months.
He continued,
The bigger issues are that post-quantum addresses could take years to ship, and nobody has a politically viable solution for Satoshi’s coins, which are currently an $80B quantum canary.
Smith’s argument highlights one of Bitcoin’s unresolved questions. The harder decisions will involve coins that will never migrate, including Bitcoin founder Satoshi’s 1.1 million stash.
Coinbase’s Quantum Advisory Council understands these concerns as well and has thus outlined three options: freeze, burn, or do nothing and take the loss. However, each option here clashes with Bitcoin’s core principles in some way.
So, what’s the solution? For Bitcoin’s network to become quantum-proof, starting today means completion on around 2033. This would uncomfortably overlap with Google’s 2030–2035 preparation window.
One must also remember that Bitcoin’s governance is notoriously slow. It’s an open secret. SegWit took over eight years from conception to adoption, and Taproot underwent the same journey in nearly seven years.
For casual observers on the scene, Bitcoin’s BIP-360 may seem like the solution. It is the network’s quantum-resistance proposal that introduces a new address type called P2MR (Pay-to-Merkle-Root), removes Taproot’s key-path spending, and uses hash-based commitments.
However, be warned, BIP-360 is not quantum-proof. In fact, it does not answer the Bitcoin network’s concerns. As Christopher Smith told AMBCrypto,
The quantum safety of a BIP360 address is the same as a P2PKH address. To make a fully post-quantum address type, we need post-quantum op codes, which requires a decision on which post-quantum algorithm to support, and there is no official process for this.
In a nutshell, BIP-360 has critical limits that cannot be ignored.
First of all, it doesn’t replace Bitcoin’s cryptography as ECDSA and Schnorr signatures remain in use. P2MR reduces exposure by forcing spending through script paths, but it’s merely a risk-reduction measure.
Also, BIP-360 will not migrate existing coins automatically. There is a 2-step process here. To begin with, every wallet, exchange, and custodian needs to support the new quantum-proof addresses. Next, users will have to voluntarily move funds. That coordination hasn’t started yet, and there’s no timeline as to when it will.
Breitman has a word of advice though,
Offer hash-based signatures now. The chain can soft-fork very quickly in an emergency, I believe it will, and that’s a good thing. But users can be very slow moving, and they need to be given ample time, several years, to migrate.
What are the market’s altcoins doing? Altcoin networks have already started their push towards making crypto future-ready, in a sense. The most notable example is the Tezos network, whose post-quantum previewnet went live on 2nd September 2026, with tz5 accounts using ML-DSA-44 signatures.
The network also supports STARK-based consensus aggregation, a ZODA data availability layer, and TzEL private payments on testnet, making it the most comprehensive quantum-resistant network out of any major chain.
According to Breitman,
Starks have come a long way in terms of proving speed and ease of deployment, and they pair very nicely with hash-based signatures.
As far as the rest of the market is concerned, Native Falcon-1024 accounts have been live on Algorand’s mainnet since v5.0.0 in August 2026. Since then, the network has processed over 500,000+ post-quantum-signed transactions. Right now, Falcon-1024 is a NIST Level 5 standard — the highest security category.
The Quantum Resistant Ledger, also dubbed to be the “original post-quantum blockchain,” has been running XMSS since June 2018. That’s eight years of quantum-resistant operations!
The list will be incomplete without mentioning Ethereum since it has released a roadmap targeting full quantum protection by 2029. Account abstraction, also dubbed EIP-8141, will let users switch to quantum-resistant signatures before the protocol-wide migration begins.
‘Quantum-ready’ is already becoming a narrative Today, a network being ‘quantum-ready’ is more than just a talking point. For traders, the differentiator is quite simple — which chains look ready, and which are still dragging their feet?
Currently, only Tezos, Algorand, and QRL have real implementations. Though it is a start, it is concerning, as none of the major altcoin networks, with the exception of Ethereum, even have a concrete roadmap.
Bitcoin does not even have its head in the game.
The window between “we have time” and “we’re out of time” is narrowing. If the transition to post-quantum cryptography arrives sooner, the networks that began preparing early will be the victors.
Maksym Sakharov mulled,
The strongest ecosystems are already thinking about cryptographic migration as part of their long-term roadmap rather than as a future emergency. Good financial infrastructure is designed around the assumption that today’s strongest cryptography will eventually be replaced by
something stronger.
For now, the market is watching, and the chains already in the game have a head start.
For individual users, though, the takeaway is simpler: DYOR. As Sakharov put it,
Individual users cannot realistically prepare for advances in cryptography on their own. Their long-term protection will depend far more on whether the infrastructure they rely on is designed to adapt as security standards evolve.
Final Summary Quantum computers can theoretically steal exposed Bitcoin keys in nine minutes — under the 10-minute window needed for Bitcoin’s mempool. Tezos, Algorand, and QRL are already quantum-ready, while Bitcoin’s BIP-360 is just a risk-reduction measure, not a solution.
CRO testuje pásmo 0,055–0,056 USD, zatímco oživení naráží na rezistenci v pásmu 0,058–0,060 USD. Podle Tokenomistu je další odemčení 1,2 miliardy CRO plánováno na 16. listopad.
Cronos [CRO] went down toward the $0.056 price area on October 22, giving back most of the recent recovery it saw. The daily chart showed it near the $0.05609 price area, down about 3.69% from the price it started trading from.
The pullback it saw leaves buyers defending the $0.055–$0.056 area while another scheduled token release approaches in November. Holding this range could allow it to try a fresh recovery attempt, but it still faces a hurdle near $0.060.
CRO’s recovery runs into trouble CRO climbed toward the $0.070 price area in late September, but that advance gave way to a steady October decline as it couldn’t hold it. Its recent attempts to recover have struggled around the $0.058–$0.059 price area.
The latest trend at the time of this writing brought the price back toward the lower end of its recent trading range.
Source: TradingView CRO also traded below its displayed moving averages. Three of those lines were around the $0.060 price area, making that area into a potential obstacle to recovery.
Trading volume has dropped compared with September’s rally. This means that participation has become quieter, which is a sign that there is no evidence of a strong buying return.
Another token unlock approaches Tokenomist’s data shows that about 1.2 billion CRO was unlocked from the Cronos Strategic Reserve on October 17. The platform says that it is about 2.3% of the circulating supply.
Another release of about the same size is set to happen on November 16, according to Tokenomist.
These figures add context to the supply that will increase in the coming weeks, but an unlock does not mean that the tokens were sold. CRO’s decline also began before October 17, so the broader price fall and the unlock are not likely to be related.
Source: Tokenomist Tokenomist separately reports that 228 million CRO were burnt over the past 30 days.
The levels that could shape CRO’s next move The immediate question is whether CRO can hold $0.055–$0.056. Its price could weaken further if it closes around that area, followed by difficulty recovering it.
If this happens, it could find support around the $0.053–$0.054 price area.
For it to recover, it will first need to move to the $0.058 price area and then the $0.060 price area. Holding above the latter would improve its trend, and bring the $0.065 area into consideration.
For now, CRO remains below those recovery levels, and buyers are finding it hard to establish a sustained turnaround.
Final Summary CRO is testing $0.055–$0.056, while recovery faces resistance around $0.058–$0.060. Tokenomist lists another 1.2 billion CRO unlock for November 16; the schedule does not confirm selling.
United Overseas Bank strategists (UOB) Quek Ser Leang and Lee Sue Ann report that EUR/USD outperformed modestly as the US Dollar (USD) softened, but price action remains choppy and largely directionless. In the near term, they expect intraday ranges around 1.1185–1.1250, while over the next 1–3 weeks the Euro (EUR) is seen consolidating in a narrower 1.1170–1.1270 band, with a corrective recovery potentially extending above the 21-day EMA.
Euro seen consolidating in tighter band"24-HOUR VIEW: Following Wednesday’s price action, we highlighted yesterday that “momentum indicators are mostly flat and today,” and we expected EUR “to range-trade between 1.1210 and 1.1250.” EUR subsequently rose to 1.1256, declined to 1.1188 and then rebounded to close at 1.1214 (-0.16%). We are not able to derive much from the price action. Today, EUR could trade between 1.1185 and 1.1250."
"1-3 WEEKS VIEW: We have been expecting EUR to trade in a range since late last week. Yesterday (22 Oct, spot at 1.1230), we stated that “the price movements since then still appear to be part of a range-trading phase, but a narrower 1.1170/1.1270 range is likely sufficient to contain EUR for now.” We continue to hold the same view."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Aave founder Stani stated in a Q3 live stream that Aaveonomics 3.0 will include AAVE repurchases, staking, and burns. AAVE repurchases have been suspended since April 19, the day after the rsETH exploit incident. Since then, the DAO has committed 25,000 ETH to DeFi United to cover losses, and arranged a credit line of up to 30,000 ETH from Mantle. Ahead of the repurchase suspension, a forum proposal had suggested cutting the annual repurchase budget from roughly $50 million to $30 million.
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Alliance Partner on a16z’s Shift: To Drive Crypto Talent to Build Cutting-Edge Technology
Imran, general partner at Alliance, took to X this morning to share his views on a16z crypto’s shift toward frontier technology sectors. He noted that a16z led Coinbase’s 2013 funding round via Chris Dixon, providing early validation for the crypto industry; Marc Andreessen’s 2014 New York Times op-ed, “Why Bitcoin Matters,” was a key factor in his decision to enter the Bitcoin space. At the time, few institutions and funds were willing to publicly back crypto, with a16z and USV standing out as two that took brand risk. Imran argued that the current development of AI infrastructure owes much to Bitcoin mining infrastructure and talent that has moved from crypto to AI. The shift to frontier technologies including robotics, biotech, AI, energy, and computing power means the talent and capabilities the crypto industry has built over the past decade can be applied to the broader frontier tech space. Citing data centers as an example, he noted that public and government pushback against data centers is growing, much like earlier resistance to crypto—yet today nearly all traditional financial institutions have embraced crypto to some extent. Yesterday’s news: a16z’s flagship blockchain fund will drop the “Crypto” moniker and rebrand as “a16z Frontier.”
6 minutes ago
ZhenFund has launched Ask AI, but it only comes with a single Markdown file.
Beating AI News Brief: ZhenFund has launched "Ask AI" on its official website, enabling entrepreneurs to directly inquire about the firms ZhenFund has invested in, its recent focus sectors, and relevant events tailored to them. The setup is straightforward: ZhenFund has compiled public information including its investment team, portfolio companies, focus areas, startup events, and contact details into a bilingual (Chinese-English) `zhenfund.md` file. Clicking any AI entry point redirects users to one of four platforms—Kimi, ChatGPT, Claude, or DeepSeek—with a pre-filled prompt that instructs the model to first read the `zhenfund.md` file before answering the entrepreneur’s questions.
6 minutes ago
SK Hynix leads AI stock rebound, with South Korean stocks rising over 4% and its US-listed shares gaining 5.5% in after-hours trading.
Midday today, leading chip stock SK Hynix opened lower but rebounded, now up 4%. Driven by the move, South Korea’s KOSPI index turned positive, recovering from an opening 4% decline to a 0.08% gain. Additionally, SK Hynix’s after-hours trading in the US market has risen 5.5%, currently quoted at $138.95.
6 minutes ago
Crypto influencer Kimchi received 1.35 billion PUMP tokens, allegedly as platform endorsement fees.
According to Lookonchain monitoring, crypto influencer Kimchi has removed the '@Pumpfun' tag from his bio just two days after endorsing pump.fun. Additionally, over the past two days, Pumpfun’s revenue has dropped by 16% from $1.61 million to $1.35 million, while the number of active addresses has fallen by 11% from 178,539 to 159,492. Kimchi’s wallet address recently received 1.35 billion PUMP tokens, worth approximately $6.25 million, which is suspected to be the platform’s endorsement fee.
6 minutes ago
Bank of Korea will require users who have cross-border transferred crypto assets to submit their end-of-month balances starting December 2.
According to Digital Asset, the Bank of Korea will require virtual asset transfer service providers to submit monthly reports to the foreign exchange information system starting December 2. The reports must cover end-of-month holdings of users who have made cross-border crypto asset transfers to overseas exchanges, personal wallets, or other destinations since July 19, 2024—even if no cross-border transactions occurred in the reporting month. Submissions include holding amounts, South Korean won-converted balances, and total monthly cross-border inflows and outflows. Dormant accounts, delisted assets, and staked assets are also within scope, with reports due by 17:30 on the 10th of the following month. It remains undecided whether cross-border transfer records prior to the system’s implementation will need to be retroactively submitted.
6 minutes ago
Hong Kong-listed AI stocks are rallying, with Zhipu AI up over 6% and MINIMAX surging more than 9%.
According to Bitget market data, Hong Kong-listed artificial intelligence stocks are rallying: Zhipu rose over 6%, MINIMAX-W gained more than 9%, Xunce climbed over 5%, and Xiaomi advanced more than 4%.
Aave V4 ve spolupráci se Sentora spustilo první externě spravované úvěrové trhy na síti Ethereum, které umožňují půjčky v RLUSD, PYUSD a OUSD proti vybranému kolaterálu.
Aave has launched its first externally curated lending markets on V4 through a partnership with institutional DeFi platform Sentora, allowing users to borrow three stablecoins against selected crypto assets on Ethereum.
Summary
Aave V4 has launched its first externally curated lending markets, with Sentora managing three new markets on Ethereum.
Users can borrow RLUSD and OUSD against USDe, PRIME, mWIN and PST, while the Bluechip market supports RLUSD, PYUSD and OUSD borrowing against kBTC.
Sentora manages collateral requirements, interest rates and liquidation parameters, while Aave DAO retains ownership of the underlying contracts.
Risk increasing changes are subject to a 48 hour timelock, and new collateral assets must undergo Aave governance review before listing.
According to Aave’s official announcement, Sentora is managing three markets that support borrowing Ripple’s RLUSD, PayPal’s PYUSD and Origin’s OUSD, with each market operating under its own collateral requirements and risk controls.
The launch introduces external market curation to Aave V4, allowing independent risk managers to operate dedicated lending markets using the protocol’s infrastructure while remaining subject to safeguards established by Aave governance.
Sentora is responsible for managing the markets and setting their risk parameters, including which assets borrowers can use as collateral. Aave DAO retains ownership of the underlying contracts and oversight of changes that could expose lenders to additional risks.
Users can access the three markets through Aave Pro, the platform’s interface for its curated lending products.
Sentora brings three lending markets to Aave V4
All three markets operate through a dedicated Sentora Liquidity Hub on Ethereum, which holds the assets available for borrowing and supplies liquidity to the individual lending markets.
The RLUSD Yield market allows users to borrow RLUSD against four collateral assets comprising USDe, PRIME, mWIN and PST. Sentora’s OUSD Yield market accepts the same collateral but allows users to borrow OUSD instead.
A third market, called Bluechip, supports borrowing RLUSD, PYUSD and OUSD against kBTC, a Bitcoin-backed asset.
Each market has separate borrowing conditions despite drawing liquidity from the same Hub. Sentora manages the collateral settings, interest rate curves, price oracles and liquidation parameters that determine how loans operate.
In its October 22 research article on Aave V4, Sentora described the launch as the first governance-approved Hub and Spoke deployment operated by an external curator on Ethereum.
The company’s published architecture diagram identifies another market, PYUSD Yield, as planned, although its collateral assets have not been confirmed. Only the three announced markets are currently listed as active.
Sentora has previously worked on stablecoin lending through other DeFi protocols. In August, crypto.news reported that the company had approved FXRP as collateral in its RLUSD lending vault on Morpho, allowing XRP holders to borrow the stablecoin using a bridged representation of their tokens.
How Aave V4 separates liquidity and lending risks
Aave V4 uses a Hub and Spoke architecture that separates where lending liquidity is held from the individual markets where users deposit collateral and borrow assets.
Liquidity Hubs hold available funds and maintain the accounting for supplied assets. Individual Spokes connect to those Hubs and determine which assets borrowers can use, how much they can borrow and when their positions become eligible for liquidation.
According to Sentora’s technical explanation, each Spoke receives borrowing and supplying limits from its connected Hub. Those limits control how much liquidity a market can draw or contribute, while emergency controls can restrict activity when necessary.
Individual borrowing positions are accounted for separately within each Spoke. A user can therefore maintain positions in different markets without having their collateral and debt combined into one position.
The architecture has already supported other specialized lending products. In September, Aave introduced an equities market on Base that accepts seven Coinbase tokenized stocks as collateral for USDC loans, with an initial borrowing cap of $21 million.
Aave Labs subsequently reported that V4 deposits had surpassed $1 billion during September, alongside $310 million in active loans.
Borrowing costs under V4 depend partly on how much of an asset’s available liquidity has been used. Higher utilization generally raises borrowing rates and the interest available to suppliers.
Aave V4 supports an additional risk premium based on collateral quality, meaning borrowers using riskier assets may face higher interest charges.
Aave DAO retains control over market safeguards
Although Sentora manages its lending markets independently, the arrangement does not give the company unrestricted control over the underlying Aave contracts.
Aave governance retains ownership of the contracts and establishes safeguards that apply to externally curated Hubs.
Any change that raises market risk must pass through a 48-hour timelock before taking effect. New assets require governance review before they can be added to the markets.
Sentora said its institutional DeFi platform has allocated more than $2 billion across onchain strategies and incorporates more than 1,000 risk models into each strategy.
Its Sentora Risk Radar system provides block-level economic risk analytics across more than 40 DeFi protocols on over 12 blockchain networks. Coverage now includes Aave V4, beginning with the Sentora-managed Hub and its lending markets.
Aave has meanwhile received a proposal from Babylon Labs to support stablecoin borrowing against native Bitcoin held in vaults on the Bitcoin blockchain. The October 14 proposal remains subject to governance approval, finalized risk settings and security checks before deployment.
GBP/NZD ve čtvrtek rostl poté, co inflace na Novém Zélandu ve třetím čtvrtletí zpomalila ze 4,1 % na 3,7 %, tedy pod tržní očekávání ve výši 3,8 %, což oslabilo sázky na zvýšení úrokových sazeb ze strany RBNZ.
The Pound-New Zealand Dollar could remain supported if weak UK data is limited, while softer New Zealand inflation may keep RBNZ hike bets under pressure.
The Pound New Zealand Dollar (GBP/NZD) exchange rate rose on Thursday as softer New Zealand inflation dented the ‘Kiwi’.
At the time of writing, GBP/NZD traded at NZ$2.3560, up 0.3% on the day.
Latest — Exchange Rates:
Pound to New Zealand Dollar (GBP/NZD): 2.356379 (+0.34%)
Euro to New Zealand Dollar (EUR/NZD): 1.974324 (+0.24%)
New Zealand Dollar to Dollar (NZD/USD): 0.567929 (-0.43%)
DAILY RECAP:
The New Zealand Dollar (NZD) fell during Thursday’s Asian trading session as markets digested the latest New Zealand inflation figures.
Price pressures cooled more than forecast in the third quarter. Inflation eased from 4.1% to 3.7%, below market expectations for 3.8%.
The data dampened bets that the Reserve Bank of New Zealand (RBNZ) would raise interest rates at its policy decision next week, which put pressure on the ‘Kiwi’.
Additionally, a souring market mood dented demand for the risk-sensitive New Zealand Dollar.
Meanwhile, the Pound (GBP) attracted limited support on Thursday, with Sterling seemingly enjoying the afterglow of high-impact data published earlier in the week.
Tuesday’s jobs report showed an unexpected decline in unemployment, while Wednesday’s consumer price index revealed a sharper-than-forecast rise in inflation.
Taken together, these releases fuelled bets that the Bank of England (BoE) could shift to a more hawkish approach to monetary policy over the coming months, which continued providing the Pound with support into Thursday’s session.
Near-Term GBP/NZD Forecast: Downbeat UK Data to Dent Sterling?
Looking ahead, Sterling could face headwinds through the final session of the week as markets react to new economic data.
The UK’s latest retail sales figures are forecast to show a 0.1% contraction in sales growth in September, which could raise concerns about the country’s economic resilience.
Later in the morning, the preliminary PMI results for October are expected to show that activity in the UK services and manufacturing sectors slowed. This could increase pressure on the Pound.
Elsewhere, market risk appetite may impact GBP/NZD. If a risk-off mood prevails, the risk-sensitive New Zealand Dollar may face resistance.
Exchange Rates UK Research
Our currency coverage draws on live market data, official economic releases and published bank research.
Grayscale has named the top 10 crypto assets by tokenholder yield and adjusted earnings yield. HYPE leads the first ranking at 8.0%, while CAKE tops the second at 14.4%.
The report argues that investors can value many crypto assets, unlike Bitcoin, using their cash flows.
Crypto valuations don’t have to rely on narratives alone. Many crypto assets can be… pic.twitter.com/up8RqIdZzx
— Grayscale (@Grayscale) October 22, 2026 Which Crypto Tokens Actually Reward Their Holders?Hyperliquid (HYPE) leads Grayscale’s ranking with an 8.0% tokenholder yield. Lighter (LIT) follows closely at 7.9%.
PancakeSwap (CAKE) comes third at 2.6%, followed by Aerodrome (AERO) and Uniswap (UNI).
But the rankings reveal something more troubling.
Five of the top 10 tokens have negative holder yields.
Curve Finance (CRV) sits at the bottom with -5.5%, while Jupiter (JUP) records -2.6%.
The reason is dilution.
Grayscale calculates tokenholder yield by adding staking rewards and buybacks, then subtracting newly issued tokens. When issuance outweighs those benefits, holders face dilution despite the protocol’s economic activity.
Can Crypto Be Valued Like Stocks?Grayscale’s second ranking reveals another surprise.
PancakeSwap leads adjusted earnings yield at 14.4%, followed by Lighter at 14.1% and HYPE at 9.8%.
Jupiter offers an interesting example. Its adjusted earnings yield reaches 3.5%, yet its tokenholder yield remains negative.
A profitable crypto protocol does not automatically make its token rewarding to hold.
Grayscale’s research head, Zach Pandl, argues that Bitcoin resembles digital gold, while many other crypto assets can be valued using cash flows.
“Crypto valuations don’t have to rely on narratives alone.”
Protocols generate earnings through trading and lending fees. Buybacks and burns can help transfer that value to holders, although token issuance may offset the gains.
The rankings offer investors a way to examine the economics behind crypto valuations.
They also expose a weakness in an industry where growing revenue can coexist with disappointing returns for tokenholders.
Zakladatel DFINITY Dominic Williams obvinil NEAR Intents z neoprávněného použití technologie threshold ECDSA, na kterou má Internet Computer výhradní licenci.
DFINITY founder Dominic Williams has published an accusation alleging that NEAR Intents’ chain abstraction feature unauthorizedly uses DFINITY’s threshold ECDSA signature technology, which is exclusively licensed for the Internet Computer. He noted the related work was advanced by an individual who was dismissed by DFINITY in 2021. Citing academic papers and GitHub records, Williams said NEAR has been using the algorithm for roughly two and a half years, and is now attempting to switch to a slower scheme requiring three rounds of signature interactions. He questioned the project’s decentralization and user security. Williams added that the matter involves legal issues and needs resolution, though his article did not disclose any lawsuits filed.
Relevant content
SK Hynix leads AI stock rebound, with South Korean stocks rising over 4% and its US-listed shares gaining 5.5% in after-hours trading.
Midday today, leading chip stock SK Hynix opened lower but rebounded, now up 4%. Driven by the move, South Korea’s KOSPI index turned positive, recovering from an opening 4% decline to a 0.08% gain. Additionally, SK Hynix’s after-hours trading in the US market has risen 5.5%, currently quoted at $138.95.
17 minutes ago
Crypto influencer Kimchi received 1.35 billion PUMP tokens, allegedly as platform endorsement fees.
According to Lookonchain monitoring, crypto influencer Kimchi has removed the '@Pumpfun' tag from his bio just two days after endorsing pump.fun. Additionally, over the past two days, Pumpfun’s revenue has dropped by 16% from $1.61 million to $1.35 million, while the number of active addresses has fallen by 11% from 178,539 to 159,492. Kimchi’s wallet address recently received 1.35 billion PUMP tokens, worth approximately $6.25 million, which is suspected to be the platform’s endorsement fee.
17 minutes ago
Bank of Korea will require users who have cross-border transferred crypto assets to submit their end-of-month balances starting December 2.
According to Digital Asset, the Bank of Korea will require virtual asset transfer service providers to submit monthly reports to the foreign exchange information system starting December 2. The reports must cover end-of-month holdings of users who have made cross-border crypto asset transfers to overseas exchanges, personal wallets, or other destinations since July 19, 2024—even if no cross-border transactions occurred in the reporting month. Submissions include holding amounts, South Korean won-converted balances, and total monthly cross-border inflows and outflows. Dormant accounts, delisted assets, and staked assets are also within scope, with reports due by 17:30 on the 10th of the following month. It remains undecided whether cross-border transfer records prior to the system’s implementation will need to be retroactively submitted.
17 minutes ago
Hong Kong-listed AI stocks are rallying, with Zhipu AI up over 6% and MINIMAX surging more than 9%.
According to Bitget market data, Hong Kong-listed artificial intelligence stocks are rallying: Zhipu rose over 6%, MINIMAX-W gained more than 9%, Xunce climbed over 5%, and Xiaomi advanced more than 4%.
17 minutes ago
Kimchi1x removes Pump.fun from bio as platform revenue drops 16% in 2 days
Just 2 days later, @kimchi1x removed @Pumpfun from his bio.
Interestingly, over those 2 days, Pumpfun's revenue dropped 16% from $1.61M to $1.35M, while active addresses fell 11% from 178,539 to 159,492.
Meanwhile, @kimchi1x may have received 1.35B $PUMP ($6.25M) in marketing
17 minutes ago
OpenAI’s 28-day product sprint (Day 18): The company rolled out a series of updates, and released another Reset feature.
Beating AI News Flash: OpenAI’s Head of Product and Platform Tibo Sottiaux announced Day 18 of the company’s 28-day product sprint, with multiple key updates: The Decisions API moved from public beta to general availability, enabling applications to quickly complete classification and next-step selection; OpenAI has transferred its cross-model API specification Open Responses to the Linux Foundation’s Agentic AI Foundation, alongside a series of performance optimizations. New enterprise partnership progress was also revealed: Uber announced it is expanding ChatGPT Work from an initial 1,000-person pilot to over 30,000 employees globally, while its engineering team will continue using Codex. However, Sottiaux added a final note: “But yes… we’re resetting quotas today too!” The Day 17 quota reset had just been credited, and another round was scheduled for Day 18. He stated the new quota reset is expected to take effect before 1:00 AM Beijing Time on October 24, and will come with a minor, undisclosed update.
Gold recently broke the support zone between the key support level 4100.00 (which has been reversing the price from the end of September, stopping waves iii, v and 2) and the lower daily Bollinger Band.
The breakout of this support zone accelerated the active downward impulse, which started earlier from the top of wave ii at 4400.00 in the middle of September.
Given the clear daily downtrend, Gold can be expected to fall further toward the next support level 3970.00 – which stopped all downward waves from July.
FxProhttp://www.fxpro.co.uk/?ib=606792
FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.
Goldman Sachs vyčlenil 500 milionů USD na další fázi programu 10 000 Small Businesses a spustil institut pro AI ve spolupráci se společnostmi Anthropic, Google, Meta a OpenAI.
New initiative brings together leading AI companies to equip Main Street for the AI economy
NEW YORK--(BUSINESS WIRE)--Goldman Sachs today announced the launch of the Goldman Sachs Small Business AI Institute, a significant extension of its signature 10,000 Small Businesses program aimed at supporting AI adoption and application. The Institute is partnering with the world’s leading AI companies – Anthropic, Google, Meta and OpenAI – to provide entrepreneurs across America with the training and tools they need to integrate AI into their operations and grow and scale their businesses.
The Institute is part of a new $500 million commitment the firm is making to fund the next chapter of 10,000 Small Businesses and deliver education, access to capital and support services to another 10,000 businesses. Since its launch in 2010, nearly 20,000 entrepreneurs across all 50 states and four U.S. territories have completed the program. Graduates add jobs four times faster than similarly-sized U.S. businesses and together represent more than $32 billion in annual revenue and over 350,000 jobs.
"Goldman Sachs has invested in small businesses for more than 15 years, because that is where job creation happens," said David Solomon, Chairman and CEO of Goldman Sachs. "Every major technology shift has rewarded the businesses that adapt most quickly. This commitment makes sure the entrepreneurs who are creating America's jobs can lead in the AI economy."
The Institute will focus on three key pillars: delivering high-quality AI education to small business owners across the country, publishing research on AI use by small businesses and supporting AI-enabled expansions to access to capital for small businesses.
As part of its initial activities, the Institute will develop a new learning series with Anthropic on applied AI for small businesses, hands-on workshops for Goldman Sachs’ 10,000 Small Businesses alumni and research collaborations on small business AI use. In addition, the Institute will work with Google to deliver its Grow with Google AI Professional certificate to almost 20,000 small business owners and their employees, including three months of no-cost access to Google AI Pro. Meta will collaborate with the Institute to help support entrepreneurs with AI tools and training for their businesses through Muse for Small Business. The Institute is also partnering with OpenAI to deliver tailored AI workshops across the country with 10,000 Small Businesses community college partners.
“We believe AI will create the greatest boom in entrepreneurship and small businesses that the world has ever seen. This is an incredible moment for anyone with an idea for a new endeavor because the gap between imagining it and bringing it to life is getting much smaller. We're excited to work with Goldman Sachs to help more entrepreneurs build and grow with ChatGPT,” said Sam Altman, Co-founder and CEO of OpenAI.
“Small businesses make up a significant share of the American economy, but they have never had the resources of bigger companies. AI is the first technology that can finally close that gap, and Anthropic is committed to making sure those gains reach startups and family businesses, not just large enterprises. We're glad to work with Goldman Sachs to help these small business owners rely on Claude to improve how work gets done and even build AI into their product offerings," said Daniela Amodei, Co-founder and President of Anthropic.
"Small businesses are the economic engine and heart of communities, and new technologies give them a powerful way to accelerate growth, profitability and hiring,” said Ruth Porat, President and Chief Investment Officer of Alphabet and Google. “By partnering with Goldman Sachs and the Small Business AI Institute, we are putting practical tools and training directly into the hands of nearly 20,000 entrepreneurs—helping them build for their future."
“Muse for Small Business has affirmed our longstanding belief in the importance of small businesses to both Meta and the economy. Small business owners are entrepreneurs, job creators and revenue drivers and we are proud to empower over 200 million of them on our platforms. We're excited to join Goldman Sachs' Small Business AI Institute to continue to bring the benefits of super intelligence to small business owners,” said Dina Powell McCormick, President and Vice Chairman of Meta.
According to a survey released today of over 2,400 10,000 Small Businesses graduates, 86 percent reported using AI in their business – a dramatic increase from 56 percent in 2024. However, only 15 percent said that AI is fully integrated into their core operations. More than three-quarters of graduates said they could use additional training and resources.
“The AI economy is a small business economy,” said Asahi Pompey, global head of Corporate Engagement at Goldman Sachs. “We want to enable AI adoption by delivering support that is practical, accessible and immediate."
For more information on the Goldman Sachs Small Business AI Institute, visit gs.com/SBAI.
About Goldman Sachs 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is $1.25 billion commitment to help entrepreneurs create jobs and economic opportunity by providing a comprehensive business education program and access to capital and business support services. Since its launch over 15 years ago, 10,000 Small Businesses has served nearly 20,000 small businesses across the United States. The program has reached businesses from all 50 states, Puerto Rico, and Washington, D.C. Learn more at www.gs.com/10ksb.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
MONETA meziročně zvýšila svůj čistý zisk o 12,7 procenta na 5,5 miliardy Kč. To představuje návratnost hmotného kapitálu ve výši 23,9 procenta. Prezentace finančních výsledků je dostupná zde a na odkazu:
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23.10.2026
7:55MONETA Money Bank, a.s.: Čistý zisk za tři čtvrtletí 2026 vzrostl na 5,5 mld. Kč
6:01Umělá inteligence jako hrozba lidstvu?
22.10.2026
22:01Akcie prudce oslabily, technologický sektor zasáhl výprodej a trh přešel do režimu „risk off“
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15:03Rostoucí zásoby a výprodej AI akcií srážejí ceny mědi
13:25Meta: Reklamní stroj nadále financuje útok na špičku AI, účet ale začíná být opravdu velký
13:02Spotify dál roste, reklama ale zůstává slabinou. Audioknihy mají být dalším motorem
12:05Kde letos zakončí evropské akcie? Analytici se rozcházejí nejvíce za sedm let
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Wells Fargo oznámila, že Kleber Santos se stane generálním ředitelem spotřebitelského bankovnictví a úvěrů, zatímco Saul Van Beurden se bude výhradně soustředit na vedení AI v celé Wells Fargo.
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced that Kleber Santos will become CEO of Consumer Banking and Lending (CBL), and Saul Van Beurden will focus exclusively on leading AI across Wells Fargo. The two executives have served as co-CEOs of CBL since its formation last year, while Van Beurden also established and has led the company’s AI efforts.
“We have significant opportunities to grow our consumer businesses and to use AI to transform how we operate and serve our customers,” said Charlie Scharf, Chairman and CEO of Wells Fargo. “Kleber and Saul have built strong momentum in both areas, and having each focus fully on these priorities will help us accelerate that progress.”
Santos will assume full responsibility for CBL, building on growth across Consumer Deposits, Credit Cards, Business Banking, and Auto lending.
Van Beurden will focus on building Wells Fargo’s capabilities for enterprise-scale AI adoption, working closely with Bridget Engle, head of Technology, and with our business leaders to drive transformation across the company, and on strengthening the company’s work with leading AI companies.
Both executives will continue to report to Scharf and serve on Wells Fargo’s Operating Committee.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $2.3 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 38 on Fortune’s 2026 rankings of America’s largest corporations. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com
LinkedIn: https://www.linkedin.com/company/wellsfargo
Cautionary Statement about Forward-Looking Statements
This news release contains forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov.
Gilead koupí od PepStar program inhibitorů IL-23R včetně HCXT-2001 za 1,275 miliardy USD jako počáteční hotovostní platbu, která podléhá obvyklým úpravám a je splatná při dokončení transakce; dokončení transakce se očekává ve čtvrtém čtvrtletí roku 2026.
-- Clinical Program Adds a Potentially Differentiated Oral Peptide IL-23 Receptor Inhibitor to Gilead’s Inflammation Portfolio --
-- HCXT-2001 Has Potential as a Monotherapy or in Combination with Other Gilead Programs to Address Unmet Needs in Immune-Mediated Inflammatory Diseases --
FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) today announced that it has entered into a definitive agreement to acquire an oral IL-23R inhibitor program, including lead asset HCXT-2001, from PepStar Therapeutics Limited, a privately held, clinical-stage biotechnology company.
“HCXT-2001 adds a potentially differentiated oral approach to our growing inflammation pipeline, reflecting our commitment to addressing significant unmet patient needs,” said Dietmar Berger, MD, PhD, Chief Medical Officer of Gilead.
Share Key Highlights
HCXT-2001 is an investigational, clinical-stage, oral, macrocyclic peptide inhibitor of IL-23R with an extended half-life, offering a potentially differentiated approach to oral IL-23 pathway inhibition. IL-23R is a clinically validated target in immune-mediated inflammatory diseases, including Inflammatory Bowel Diseases (IBD), with potential applications in psoriasis. The transaction provides Gilead with worldwide rights to the IL-23R inhibitor program, including HCXT-2001, and further strengthens Gilead’s growing inflammation and immunology portfolio, where the company is building depth and optionality in selected immune-mediated diseases through multiple complementary mechanisms and modalities. “HCXT-2001 adds a potentially differentiated oral approach to our growing inflammation pipeline, reflecting our commitment to addressing significant unmet patient needs,” said Dietmar Berger, MD, PhD, Chief Medical Officer of Gilead. “We see potential for HCXT-2001 alone or in combination, including with emvistegrast, as a daily oral treatment for people living with IBD.”
“We are excited for Gilead to take HCXT-2001 forward and believe their scientific expertise and global development capabilities can help realize the full potential of this novel oral IL-23R inhibitor,” said Haibing Guo, Founder and CEO of PepStar. “This transaction marks a major milestone for our company and underscores the strength of our proprietary oral peptide platform. I feel incredibly proud of what our team has accomplished in just three years and excited about what lies ahead as we continue bringing innovative medicines to patients around the world.”
Transaction Details
Under the terms of the agreement, Gilead will acquire an oral IL-23R inhibitor program, including lead asset HCXT-2001, from PepStar for $1.275 billion in upfront cash consideration, subject to customary adjustments, which is payable at closing. Closing of the transaction is subject to certain customary conditions. The transaction is expected to close in the fourth quarter of 2026.
This transaction is expected to reduce Gilead's GAAP and non-GAAP EPS by approximately $0.79 to $0.83 in the fourth quarter of 2026.
Lazard is acting as the exclusive financial advisor for Gilead. Centerview Partners LLC is acting as the exclusive financial advisor for PepStar. Covington & Burling LLP and Mayer Brown LLP are serving as legal counsel to Gilead. Sidley Austin LLP is representing PepStar and Wilson Sonsini Goodrich & Rosati LLP are serving as patent counsel to PepStar.
Advancing Gilead's Commitment to Inflammation
Gilead is committed to advancing innovative treatments with the potential to transform care for people living with chronic inflammatory conditions.
The company is building a disciplined, differentiated inflammation portfolio focused on significant unmet needs across immune-mediated diseases. By combining immunology expertise, precision oral medicines and a deep internal pipeline spanning complementary scientific approaches, Gilead has the optionality to advance both monotherapies and future combinations that address underlying drivers of disease and improve outcomes that matter most to patients.
Our areas of focus include inflammatory bowel disease, type 2 inflammatory diseases, lupus and B cell-mediated autoimmune diseases.
About HCXT-2001
HCXT-2001 is an investigational oral macrocyclic peptide inhibitor of IL-23R with an extended half-life currently in Phase 1 clinical trials, originally developed by PepStar Therapeutics Limited. Its safety and efficacy have not been established, and it has not been approved by any regulatory authority.
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, cancer, and inflammation. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, Calif.
Gilead Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the ability of Gilead and PepStar to complete the acquisition transaction in a timely manner or at all; the possibility that various closing conditions for the acquisition may not be satisfied or waived, including the possibility that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the acquisition; uncertainties relating to the timing or outcome of any filings and approvals relating to the acquisition; difficulties or unanticipated expenses in connection with integrating HCXT-2001 and related acquired assets; the effects of the acquisition on relationships with business partners or governmental entities; the risk that Gilead may not realize the expected benefits of this acquisition; the ability of Gilead to advance the acquired pipeline assets, including HCXT-2001, and successfully commercialize such assets following the acquisition; Gilead’s ability to initiate, progress or complete clinical trials or studies within currently contemplated timelines or at all, and the possibility of unfavorable results from ongoing or additional clinical trials or studies, including those involving HCXT-2001 and/or emvistegrast; uncertainties relating to regulatory applications and related filing and approval timelines, including potential applications for programs and/or indications currently or prospectively under evaluation, and the risk that any regulatory approvals, if granted, may be subject to significant limitations on use or subject to withdrawal or other adverse actions by the applicable regulatory authority; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.
Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc., or its related companies.
For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on X/Twitter (@Gilead Sciences) and LinkedIn (@Gilead-Sciences).
NEW YORK, Oct. 22, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.31 per share on the company's outstanding common stock. The dividend is payable on December 18, 2026 to shareholders of record at the close of business on December 4, 2026. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading technology platform that powers the world’s economies. We architect the infrastructure of the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying advanced technology, data, and intelligence solutions that enable our clients to capture opportunities, navigate risk, and strengthen resilience. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance, and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, information regarding our dividend program and future payment obligations. Forward-looking statements involve a number of risks, uncertainties, or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Media Relations Contact:
David Lurie
+1.914.538.0533 [email protected]
Investor Relations Contact:
Ato Garrett
+1.212.401.8737 [email protected]
TradePMR by Robinhood integrovala webovou verzi ICE Connect Wealth do platformy Fusion®, čímž registrovaným investičním poradcům (RIA) zpřístupnila tržní data, výzkum a obchodní nástroje v jednom prostředí.
ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), one of the world's leading providers of financial market technology and data powering global capital markets, and TradePMR by Robinhood (“TradePMR”), a leading technology and custodial services provider for registered investment advisors (RIAs), announced today that access to the web-based version of the ICE Connect Wealth offering has been integrated into Fusion®, TradePMR's purpose-built advisor platform. 1
The ICE Connect Wealth offering provides comprehensive tools to analyze portfolio and market data, provide trade support for private labels, and access to ICE-provided tools and data. TradePMR’s Fusion® platform provides RIAs with tools to help manage their business and support their clients’ evolving needs.
“ICE and TradePMR have a long-standing relationship working together to provide solutions for the wealth management community, including the ICE Bonds Private Label solution which allows thousands of investment managers to search and trade fixed income securities,” said Chris Edmonds, President of Fixed Income & Data Services at ICE. “Client access to ICE Connect Wealth through TradePMR’s Fusion® platform unites the power of market research and data with a full suite of trading, execution and client management solutions on one convenient platform.”
“Financial advisors need technology that makes it easier to manage their clients’ investments and spend more time delivering value,” said R. Scott Victoria, President and COO, TradePMR by Robinhood. “By integrating ICE Connect Wealth with our Fusion® platform, we’re giving advisors access to additional research and trading tools within their existing workflows, helping them make more informed investment decisions, operate more efficiently and ultimately deliver a better experience for their clients.”
ICE Connect brings together a range of cross-asset real-time data, news and analytics for global markets. The platform helps customers manage price and currency risks and streamline workflows. ICE Connect is part of ICE's Fixed Income and Data Services business, which provides comprehensive fixed income execution, clearing and data solutions that can help enhance market insights, manage risks and uncover investment opportunities.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 5, 2026.
About TradePMR by Robinhood
TradePMR is a premier provider of technology, custodial, operational, and trading support for independent registered investment advisors (RIAs) for 400 RIA firms with more than $50 billion in assets under advisement. For more than 25 years, the firm has equipped growth-minded advisors with the tools needed to build stronger, more efficient businesses. Following its integration with Robinhood in 2025, TradePMR combines its rich industry track record with Robinhood's expansive resources to deliver service tailored to the needs of RIAs and their clients. Headquartered in Clearwater, Florida, Brokerage and custodial services are provided by Trade-PMR, Inc., Member SIPC, which clears through Wells Fargo Clearing Services, LLC. Trade-PMR, Inc. is a wholly owned subsidiary of Robinhood Markets, Inc.
ICE Connect Wealth is an ICE offering. TradePMR does not control and is not responsible for the content or accuracy of ICE data or analytics, and inclusion of ICE Connect Wealth within Fusion® is not a recommendation of any security or investment strategy. Neither ICE nor TradePMR provides investment advice through the integration.
Visit www.TradePMR.com to learn more, or follow the firm on X, Facebook, and LinkedIn for the latest news, updates, and event information.
1 Access to ICE Connect Wealth is available to eligible TradePMR advisors under a separate agreement with ICE and is subject to ICE's terms, entitlements, and applicable fees.
ICE rozšířila svůj model portfoliového maržování IRM 2 na britské a evropské úrokové a dluhopisové futures a opční kontrakty, včetně Euribor, €STR, SONIA, SARON a Gilts.
LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading provider of financial market technology and data powering global capital markets, today announced the expansion of its Value-at-Risk (VaR)-based portfolio margining methodology, ICE Risk Model 2 (IRM 2), to ICE’s interest rate and fixed income derivatives complex.
ICE’s U.K. and European interest rate and fixed income futures and options, including Euribor, €STR, SONIA, SARON, and Gilts, plus key related spread contracts, join more than 1,300 contracts already margined under IRM 2 across ICE’s energy and financial markets.
“Bringing interest rates onto IRM 2 is the next major step in rolling out our new risk model,” said Hester Serafini, President of ICE Clear Europe. “Margin should reflect the risk of positions a member holds, so IRM 2 looks at the whole portfolio and measures risk with greater precision, giving credit where exposures offset one another. Backed by our continued investment in clearing and risk technology, IRM 2 adapts as markets move, and we thank our customers for their continued trust and collaboration.”
“The move to IRM 2 comes during a record year for ICE’s interest rate products,” said Caterina Caramaschi, VP of Financial Derivatives at ICE. “Diverging central bank policy paths are driving demand for more sophisticated risk tools. Rates exposures across currencies and tenors move in relation to one another, and clients need a margin model that reflects those relationships. With IRM 2, clients can manage multi-currency interest rate risk on ICE with greater capital efficiency.”
IRM 2 uses anti-procyclical features to avoid “big step” margin changes while remaining resilient in stress events, and its Filtered Historical Simulation VaR approach captures diversification across related benchmarks and currencies.
In addition, ICE has broadened its multi-currency rates offering this year with new STIR futures covering Japanese, Swedish, Norwegian, South African and Australian markets, and these contracts will migrate to IRM 2 in due course.
Across ICE’s interest rates and fixed income complex, open interest is up 23% year-over-year, while average daily volume is up 47% year-to-date.
For more information on IRM 2, please visit: www.ice.com/clearing/margin-models/irm-2.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 5, 2026.
LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC) (“Kilroy” or the “Company”) today reported financial and operational results for the third quarter ended September 30, 2026.
“Momentum in our West Coast markets continued to accelerate in the third quarter, with over 800,000 square feet of long-term leases signed, representing one of the Company’s highest quarterly leasing volumes since 2019,” said Angela Aman, Chief Executive Officer. “The breadth of activity was particularly notable, as we recorded sequential leased occupancy gains across all five of our regions and strong re-leasing spreads, driven by activity from a wide variety of users and industries. Looking ahead, our high-quality portfolio, solid balance sheet, and nimble approach position us well to capitalize on the real-time fundamental improvements we are seeing across our regions.”
Financial Results
Revenues of $271.6 million for the quarter ended September 30, 2026, as compared to $279.7 million for the quarter ended September 30, 2025 Net income available to common stockholders of $15.5 million, or $0.13 per diluted share, for the quarter ended September 30, 2026, as compared to $156.2 million, or $1.31 per diluted share, for the quarter ended September 30, 2025 Funds from operations (“FFO”) of $104.6 million, or $0.88 per diluted share, for the quarter ended September 30, 2026, as compared to $130.6 million, or $1.08 per diluted share, for the quarter ended September 30, 2025 Leasing and Occupancy
Stabilized Portfolio was 76.9% occupied and 83.0% leased at September 30, 2026, representing 610 basis points of leases signed but not yet commenced Excluding Kilroy Oyster Point Phase 2 (“KOP 2”), the Stabilized Portfolio was 80.7% occupied and 84.8% leased at September 30, 2026, representing 410 basis points of leases signed but not yet commenced During the quarter, signed approximately 815,000 square feet of leases Leasing activity was comprised of 345,000 square feet of new leasing on previously vacant space, 127,000 square feet of new leasing on currently occupied space, and 343,000 square feet of renewal leasing Renewal leasing included a 12-year, approximately 243,000 square-foot renewal at Crossing 900 with Box, Inc., a leading content management company Leasing activity during the quarter included approximately 12,000 square feet of short-term leasing GAAP and cash rents on leases signed during the quarter increased 30.6% and 9.7%, respectively, from prior levels on Second Generation leasing, excluding short-term leasing Excluding leases signed on space vacant for more than 12 months, GAAP and cash rents on leases signed during the quarter increased 37.9% and 13.9%, respectively Land Site Under Contract
In August, entered into an agreement, subject to a non-refundable deposit, to sell the land at Kilroy East Village in San Diego for $19.5 million in gross sales proceeds. The transaction is anticipated to close during the fourth quarter Balance Sheet / Liquidity
In July, repaid the outstanding $200.0 million of 4.350% Private Placement Senior Notes Series B due October 2026, at par Dividend
The Board of Directors declared and paid a regular quarterly cash dividend on its common stock of $0.54 per share, equivalent to an annual rate of $2.16 per share. The dividend was paid on October 14, 2026 to stockholders of record on September 30, 2026 (the ex-dividend date) Net Income Available to Common Stockholders / FFO Guidance
The Company is updating Nareit-defined FFO per share guidance for the full year 2026 to $3.55 to $3.59 per diluted share, from the previous range of $3.49 to $3.63. The table below reflects key assumptions for 2026 guidance.
Key Assumptions
July 2026 Assumptions
Current Assumptions
Average full year occupancy
76.50% to 78.00%
77.00% to 77.50%
Average full year occupancy excluding KOP 2
80.50% to 81.50%
80.75% to 81.25%
Same Property Cash Net Operating Income (“NOI”) growth (1)
0.25% to 1.25%
0.75% to 1.00%
NOI from Development Properties (2)
$(22.5) to $(24.0) million
+/- $(21.0) million
Non-Cash GAAP NOI adjustments (1) (3)
$13.0 to $15.0 million
$13.0 to $14.0 million
GAAP lease termination fee income
$3.0 to $4.5 million
$1.1 to $1.5 million
General and administrative and Leasing costs
$(87.5) to $(89.5) million
$(89.5) to $(90.5) million
Interest income
$2.0 to $3.0 million
+/- $3.0 million
Gross interest expense
$(208.0) to $(209.5) million
$(207.5) to $(208.5) million
Capitalized interest (4)
$48.5 to $49.5 million
$49.0 to $49.5 million
Total development spending (5)
+/- $150.0 million
+/- $150.0 million
Operating property dispositions
$347.5 to $500.0 million
$347.5 to $500.0 million
Full Year 2026 Range
as of July 2026
Full Year 2026 Range
as of October 2026
Low End
High End
Low End
High End
$ and shares/units in thousands, except per share/unit amounts
Net income available to common stockholders per share - diluted
$
0.08
$
0.22
$
0.23
$
0.27
Weighted average common shares outstanding - diluted (6)
118,100
118,100
117,500
117,500
Net income available to common stockholders
$
9,055
$
25,743
$
26,607
$
31,375
Adjustments:
Net income attributable to noncontrolling common units of the Operating Partnership
300
300
300
300
Net income attributable to noncontrolling interests in consolidated property partnerships
17,000
17,000
17,000
17,000
Depreciation and amortization of real estate assets
379,400
379,400
369,000
369,000
Gain on sale of depreciable operating property
(23,525
)
(23,525
)
(23,525
)
(23,525
)
Impairment of real estate assets
61,778
61,778
61,778
61,778
Funds From Operations attributable to noncontrolling interests in consolidated property partnerships
(28,000
)
(28,000
)
(28,000
)
(28,000
)
Funds From Operations (1)
$
416,008
$
432,696
$
423,160
$
427,928
Weighted average common shares/units outstanding – diluted (7)
119,200
119,200
119,200
119,200
Nareit Funds From Operations per common share/unit – diluted (1)
$
3.49
$
3.63
$
3.55
$
3.59
________________________
(1)
For additional information, please refer to pages 36-38 “Management Statements on Non-GAAP Supplemental Measures” of the Company’s Supplemental Financial Report furnished on Form 8-K.
(2)
NOI from Development Properties is primarily attributable to the Company’s KOP 2 project. 2026 guidance assumes the continued capitalization of the Company’s Flower Mart project through year end.
(3)
Non-Cash GAAP NOI adjustments include the following items: Deferred income and lease incentives, net, Amortization of deferred revenue related to tenant-funded tenant improvements, Straight-line rents, net, Amortization of net below market rents, Deferred settlement and restoration fee income, and Other.
(4)
2026 capitalized interest guidance assumes the continued capitalization of the Company’s Flower Mart project through year end.
(5)
Total development spending includes recently stabilized, in-process, and future development projects.
(6)
Calculated based on estimated weighted average shares outstanding, including non-participating share-based awards and the dilutive impact of contingently issuable shares.
(7)
Calculated based on the weighted average shares outstanding, including participating and non-participating share-based awards, and the dilutive impact of contingently issuable shares, and assuming the exchange of all common limited partnership units outstanding. Reported amounts are attributable to common stockholders, common unitholders, and restricted stock unitholders.
The Company’s guidance estimates for the full year 2026, and the reconciliation of Net income available to common stockholders per share - diluted and FFO per share and unit - diluted included within this press release, reflect management’s views on current and future market conditions, including assumptions with respect to rental rates, occupancy levels, and the earnings impact of the events referenced in this press release. These guidance estimates do not include the impact on the Company’s operating results from any events outside of the Company’s control, as the timing and magnitude of any such events are not known at the time the Company provides guidance. There can be no assurance that the Company’s actual results will not differ materially from these estimates.
Conference Call and Audio Webcast
The Company’s management will discuss third quarter results and the current business environment during the Company’s October 23, 2026 earnings conference call. The call will begin at 10:00 a.m. Pacific Time and last approximately one hour. To participate and obtain conference call dial-in details, register by using the following link, https://events.q4inc.com/analyst/810842787?pwd=5kxxJfrm. Those interested in listening via the Internet can access the conference call at https://events.q4inc.com/attendee/810842787. It may be necessary to download audio software to hear the conference call.
About Kilroy Realty Corporation
Kilroy is a leading U.S. landlord and developer, with operations in the San Francisco Bay Area, Los Angeles, Seattle, San Diego, and Austin. The Company has earned global recognition for sustainability, building operations, innovation, and design. As a pioneer and innovator in the creation of a more sustainable real estate industry, the Company’s approach to modern business environments helps drive creativity and productivity for some of the world’s leading technology, media, life science, and professional services companies.
The Company is a publicly traded real estate investment trust (“REIT”) and member of the S&P MidCap 400 Index with more than seven decades of experience managing, developing, and acquiring office, life science, and mixed-use projects.
As of September 30, 2026, Kilroy’s stabilized portfolio totaled approximately 17.1 million square feet of primarily office and life science space that was 76.9% occupied and 83.0% leased. The Company also has 608 residential units in San Diego with a quarterly average occupancy of 94.8%.
A Leader in Sustainability and Commitment to Corporate Social Responsibility
Kilroy has a longstanding commitment to sustainability and continues to be a recognized leader in our sector. For over a decade, the Company and its sustainability initiatives have been recognized with numerous honors, including earning the GRESB five star rating and being named a sector and regional leader in the Americas. Other honors have included the Nareit Leader in the Light Award, being listed on the Dow Jones Sustainability World Index, being named ENERGY STAR Partner of the Year, and receiving the ENERGY STAR highest honor of Sustained Excellence.
Kilroy is proud to have achieved carbon neutral operations across our portfolio since 2020. The Company also has a longstanding commitment to maintain high levels of LEED, Fitwel, and ENERGY STAR certifications across the portfolio.
Kilroy is committed to cultivating a company culture that makes a positive difference in our employees’ lives by focusing on development, celebrating our unique backgrounds, promoting employee health and wellness, and dedicating ourselves to being a responsible corporate citizen through our community service and philanthropic efforts.
More information is available at http://www.kilroyrealty.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs, and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends, and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results, and events may vary materially from those indicated or implied in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results, or events. Numerous factors could cause actual future performance, results, and events to differ materially from those indicated in the forward-looking statements, including, among others: global market and general economic conditions, including actual and potential tariffs and periods of heightened inflation, and their effect on our liquidity and financial conditions and those of our tenants; adverse economic or real estate conditions generally, and specifically, in the States of California, Texas, and Washington; risks associated with our investment in real estate assets, which are illiquid, and with trends in the real estate industry; defaults on or non-renewal of leases by tenants; any significant downturn in tenants’ businesses, including bankruptcy, lack of liquidity or lack of funding, and the impact labor disruptions or strikes, such as episodic strikes in the media industry, may have on our tenants’ businesses; our ability to re-lease property at or above current market rates; reduced demand for office space, including as a result of remote working and flexible working arrangements that allow work from remote locations other than an employer's office premises; costs to comply with government regulations, including environmental remediation; the availability of cash for distribution and debt service, and exposure to risk of default under debt obligations; increases in interest rates and our ability to manage interest rate exposure; changes in interest rates and the availability of financing on attractive terms or at all, which may adversely impact our future interest expense and our ability to pursue development, redevelopment, and acquisition opportunities and refinance existing debt; a decline in real estate asset valuations, which may limit our ability to dispose of assets at attractive prices, or obtain or maintain debt financing, and which may result in write-offs or impairment charges; significant competition, which may decrease the occupancy and rental rates of properties; potential losses that may not be covered by insurance; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired, developed, and redeveloped properties; the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts; delays or refusals in obtaining all necessary zoning, land use, and other required entitlements, governmental permits and authorizations for our development and redevelopment properties; increases in anticipated capital expenditures, tenant improvement, and/or leasing costs; defaults on leases for land on which some of our properties are located; adverse changes to, or enactment or implementations of, tax laws or other applicable laws, regulations, or legislation, as well as business and consumer reactions to such changes; risks associated with joint venture investments, including our lack of sole decision-making authority, our reliance on co-venturers’ financial condition, and disputes between us and our co-venturers; environmental uncertainties and risks related to natural disasters; risks associated with climate change and our sustainability strategies, and our ability to achieve our sustainability goals; and our ability to maintain our status as a REIT. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the dates on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.
KILROY REALTY CORPORATION
SUMMARY OF QUARTERLY RESULTS
(unaudited; in thousands, except per share data)
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Revenues
$
271,604
$
279,744
$
814,028
$
840,480
Net income available to common stockholders
$
15,506
$
156,220
$
16,144
$
263,677
Weighted average common shares outstanding – basic
116,309
118,296
116,741
118,259
Weighted average common shares outstanding – diluted
117,240
118,822
117,544
118,724
Net income available to common stockholders per share – basic
$
0.13
$
1.32
$
0.14
$
2.22
Net income available to common stockholders per share – diluted
$
0.13
$
1.31
$
0.14
$
2.21
Funds From Operations (1)(2)
$
104,633
$
130,561
$
322,817
$
388,762
Weighted average common shares/units outstanding – basic (3)
117,978
119,870
118,390
119,823
Weighted average common shares/units outstanding – diluted (4)
118,910
120,397
119,193
120,288
Funds From Operations per common share/unit – basic (2)
$
0.89
$
1.09
$
2.73
$
3.24
Funds From Operations per common share/unit – diluted (2)
$
0.88
$
1.08
$
2.71
$
3.23
Common shares outstanding at end of period
116,309
118,304
Common partnership units outstanding at end of period
1,134
1,151
Total common shares and units outstanding at end of period
117,443
119,455
September 30,
2026
September 30,
2025
Stabilized office portfolio occupancy rates: (5)
San Francisco Bay Area
75.3
%
85.7
%
Los Angeles
72.2
%
74.0
%
Seattle
79.5
%
80.6
%
San Diego
83.4
%
82.8
%
Austin
84.0
%
82.2
%
Weighted average total
76.9
%
81.0
%
Total square feet of stabilized office properties owned at end of period: (5)
San Francisco Bay Area
6,456
5,565
Los Angeles
4,246
4,568
Seattle
2,997
2,996
San Diego
2,689
2,923
Austin
759
759
Total
17,147
16,811
________________________
(1)
Reconciliation of Net income available to common stockholders to Funds From Operations available to common stockholders and unitholders and management statement on Funds From Operations are included after the Consolidated Statements of Operations.
(2)
Reported amounts are attributable to common stockholders, common unitholders, and restricted stock unitholders.
(3)
Calculated based on weighted average shares outstanding, including participating share-based awards (i.e., certain time-based restricted stock units) and assuming the exchange of all common limited partnership units outstanding.
(4)
Calculated based on weighted average shares outstanding, including participating and non-participating share-based awards, dilutive impact of contingently issuable shares, and assuming the exchange of all common limited partnership units outstanding.
(5)
Occupancy percentages and total square feet reported are based on the Company’s stabilized office portfolio for the periods presented.
KILROY REALTY CORPORATION
CONSOLIDATED BALANCE SHEETS
(unaudited; in thousands)
September 30, 2026
December 31, 2025
ASSETS
Real Estate Assets:
Land
$
1,730,514
$
1,641,913
Buildings and improvements
9,103,217
8,505,486
Undeveloped land and construction in progress
1,627,372
2,387,742
Total real estate assets held for investment
12,461,103
12,535,141
Accumulated depreciation and amortization
(3,014,889
)
(2,843,811
)
Total real estate assets held for investment, net
9,446,214
9,691,330
Real estate and other assets held for sale, net
—
115,155
Cash and cash equivalents
94,301
179,316
Restricted cash
250
—
Marketable securities
34,025
30,807
Current receivables, net
16,818
12,765
Deferred rent receivables, net
420,433
424,794
Deferred leasing costs and acquisition-related intangible assets, net
272,405
278,232
Right of use ground lease assets, net
127,261
128,116
Prepaid expenses and other assets, net
64,065
54,561
TOTAL ASSETS
$
10,475,772
$
10,915,076
LIABILITIES AND EQUITY
Liabilities:
Secured debt, net
$
588,777
$
592,685
Unsecured debt, net
3,748,263
3,996,774
Unsecured line of credit
40,000
—
Accounts payable, accrued expenses, and other liabilities
309,288
288,963
Ground lease liabilities
126,979
127,628
Accrued dividends and distributions
63,430
65,009
Deferred revenue and acquisition-related intangible liabilities, net
112,854
125,628
Rents received in advance and tenant security deposits
82,705
75,701
Liabilities related to real estate assets held for sale
—
4,945
Total liabilities
5,072,296
5,277,333
Equity:
Stockholders’ Equity
Common stock
1,163
1,184
Additional paid-in capital
5,171,034
5,230,747
Retained earnings
10,558
188,876
Total stockholders’ equity
5,182,755
5,420,807
Noncontrolling Interests
Common units of the Operating Partnership
50,512
51,911
Consolidated property partnerships
170,209
165,025
Total noncontrolling interests
220,721
216,936
Total equity
5,403,476
5,637,743
TOTAL LIABILITIES AND EQUITY
$
10,475,772
$
10,915,076
KILROY REALTY CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited; in thousands, except per share data)
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Revenues
Rental income
$
266,750
$
274,909
$
800,401
$
826,224
Other property income
4,854
4,835
13,627
14,256
Total revenues
271,604
279,744
814,028
840,480
Expenses
Property expenses
64,639
61,764
184,056
179,053
Real estate taxes
30,253
25,878
87,337
81,008
Ground leases
3,217
3,018
9,682
9,057
General and administrative expenses
18,408
18,247
58,040
53,623
Leasing costs
2,980
2,610
8,804
7,760
Depreciation and amortization
93,165
87,487
281,069
262,231
Total expenses
212,662
199,004
628,988
592,732
Other Income (Expenses)
Interest income
620
3,119
2,821
4,765
Interest expense
(39,376
)
(32,152
)
(119,521
)
(94,144
)
Other income
83
91
224
124
Gains on sales of depreciable operating properties
—
110,484
23,525
127,038
Impairment of real estate assets
—
—
(61,778
)
—
Total other (expenses) income
(38,673
)
81,542
(154,729
)
37,783
Net income
20,269
162,282
30,311
285,531
Net income attributable to noncontrolling common units of the Operating Partnership
(151
)
(1,524
)
(159
)
(2,562
)
Net income attributable to noncontrolling interests in consolidated property partnerships
(4,612
)
(4,538
)
(14,008
)
(19,292
)
Total net income attributable to noncontrolling interests
(4,763
)
(6,062
)
(14,167
)
(21,854
)
Net income available to common stockholders
$
15,506
$
156,220
$
16,144
$
263,677
Weighted average shares of common stock outstanding – basic
116,309
118,296
116,741
118,259
Weighted average shares of common stock outstanding – diluted
117,240
118,822
117,544
118,724
Net income available to common stockholders per share – basic
$
0.13
$
1.32
$
0.14
$
2.22
Net income available to common stockholders per share – diluted
$
0.13
$
1.31
$
0.14
$
2.21
KILROY REALTY CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited; in thousands, except per share data)
Nine Months Ended September 30,
2026
2025
Cash flows from operating activities:
Net income
$
30,311
$
285,531
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of real estate assets and leasing costs
276,753
258,058
Depreciation of non-real estate furniture, fixtures, and equipment
4,316
4,173
Revenues deemed uncollectible
825
990
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements
(9,886
)
(11,097
)
Straight-line rents, net
3,633
9,270
Non-cash amortization of net below-market rents
(1,974
)
(2,455
)
Non-cash amortization of deferred financing costs and debt discounts
6,166
3,615
Non-cash amortization of share-based compensation awards
11,177
13,945
Amortization of right of use ground lease assets
855
826
Gains on sales of depreciable operating properties
(23,525
)
(127,038
)
Impairment of real estate assets
61,778
—
Net change in other operating assets
(7,765
)
(17,660
)
Net change in other operating liabilities
32,386
39,077
Net cash provided by operating activities
385,050
457,235
Cash flows from investing activities:
Expenditures for development and redevelopment properties and undeveloped land
(164,822
)
(123,857
)
Expenditures for operating properties and other capital assets
(114,951
)
(74,507
)
Net proceeds received from dispositions of real estate assets
330,341
392,453
Investment in unconsolidated investment fund
(1,629
)
—
Expenditures for acquisitions of operating properties
—
(205,008
)
Net cash provided by (used in) investing activities
48,939
(10,919
)
Cash flows from financing activities:
Distributions to noncontrolling interests in consolidated property partnerships
(17,832
)
(26,312
)
Dividends and distributions paid to common stockholders and common unitholders
(191,355
)
(193,356
)
Taxes paid upon net share settlement of restricted share units
(6,970
)
(6,419
)
Principal payments and repayments of secured debt
(4,847
)
(4,662
)
Financing costs
(15,079
)
(4,805
)
Repurchase of common stock
(72,671
)
—
Repayments of unsecured debt
(250,000
)
(400,000
)
Borrowings on unsecured revolving credit facility
105,000
65,000
Repayments on unsecured revolving credit facility
(65,000
)
(65,000
)
Proceeds from the issuance of unsecured debt
—
395,964
Net cash used in financing activities
(518,754
)
(239,590
)
Net (decrease) increase in cash and cash equivalents and restricted cash
(84,765
)
206,726
Cash and cash equivalents, beginning of period
179,316
165,690
Cash and cash equivalents and restricted cash, end of period
$
94,551
$
372,416
KILROY REALTY CORPORATION
FUNDS FROM OPERATIONS
(unaudited; in thousands, except per share data)
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Net income available to common stockholders
$
15,506
$
156,220
$
16,144
$
263,677
Adjustments:
Net income attributable to noncontrolling common units of the Operating Partnership
151
1,524
159
2,562
Net income attributable to noncontrolling interests in consolidated property partnerships
4,612
4,538
14,008
19,292
Depreciation and amortization of real estate assets
91,737
86,080
276,753
258,058
Gains on sales of depreciable operating properties
—
(110,484
)
(23,525
)
(127,038
)
Impairment of real estate assets
—
—
61,778
—
Funds From Operations attributable to noncontrolling interests in consolidated property partnerships
(7,373
)
(7,317
)
(22,500
)
(27,789
)
Funds From Operations (1)(2)(3)
$
104,633
$
130,561
$
322,817
$
388,762
Weighted average common shares/units outstanding – basic (4)
117,978
119,870
118,390
119,823
Weighted average common shares/units outstanding – diluted (5)
118,910
120,397
119,193
120,288
Funds From Operations per common share/unit – basic (2)
$
0.89
$
1.09
$
2.73
$
3.24
Funds From Operations per common share/unit – diluted (2)
$
0.88
$
1.08
$
2.71
$
3.23
________________________
(1)
The Company calculates Funds From Operations available to common stockholders and common unitholders (“FFO”) in accordance with the 2018 Restated White Paper on FFO approved by the Board of Governors of Nareit. The White Paper defines FFO as net income or loss (calculated in accordance with GAAP), excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity. The reconciling items include amounts to adjust earnings from consolidated partially-owned entities and equity in earnings of unconsolidated affiliates to FFO. Our calculation of FFO includes the amortization of deferred revenue related to tenant-funded tenant improvements and excludes the depreciation of the related tenant improvement assets. We also add back net income attributable to noncontrolling common units of the Operating Partnership because we report FFO attributable to common stockholders and common unitholders.
Management believes that FFO is a useful supplemental measure of the Company’s operating performance. The exclusion from FFO of gains and losses from the sale of operating real estate assets allows investors and analysts to readily identify the operating results of the assets that form the core of the Company’s activity and assists in comparing those operating results between periods. Also, because FFO is generally recognized as the industry standard for reporting the operations of REITs, it facilitates comparisons of operating performance to other REITs. However, other REITs may use different methodologies to calculate FFO, and accordingly, the Company’s FFO may not be comparable to all other REITs.
Implicit in historical cost accounting for real estate assets in accordance with GAAP is the assumption that the value of real estate assets diminishes predictably over time. Since real estate values have historically risen or fallen with market conditions, many industry investors and analysts have considered presentations of operating results for real estate companies using historical cost accounting alone to be insufficient. Because FFO excludes depreciation and amortization of real estate assets, management believes that FFO along with the required GAAP presentations provides a more complete measurement of the Company’s performance relative to its competitors and a more appropriate basis on which to make decisions involving operating, financing, and investing activities than the required GAAP presentations alone would provide.
FFO should not be viewed as an alternative measure of the Company’s operating performance since it does not reflect either depreciation and amortization costs or the level of capital expenditures and leasing costs necessary to maintain the operating performance of the Company’s properties, which are significant economic costs and could materially impact the Company’s results from operations.
(2)
Reported amounts are attributable to common stockholders, common unitholders, and restricted stock unitholders.
(3)
FFO available to common stockholders and unitholders includes amortization of deferred revenue related to tenant-funded tenant improvements of $3.4 million and $3.6 million for the three months ended September 30, 2026 and 2025, respectively, and $9.9 million and $11.1 million for the nine months ended September 30, 2026 and 2025, respectively.
(4)
Calculated based on weighted average shares outstanding, including participating share-based awards (i.e., certain time-based restricted stock units) and assuming the exchange of all common limited partnership units outstanding.
(5)
Calculated based on weighted average shares outstanding, including participating and non-participating share-based awards, dilutive impact of contingently issuable shares, and assuming the exchange of all common limited partnership units outstanding.
Cheniere uzavřela se společností QatarEnergy dlouhodobé smlouvy na dodávky 4 milionů tun LNG ročně až do konce roku 2054. Dodávky mají začít na začátku 30. let.
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE: LNG) announced today that its subsidiaries, Sabine Pass Liquefaction, LLC (“SPL”) and Corpus Christi Liquefaction, LLC (“CCL”), have each entered into long-term liquefied natural gas (“LNG”) sale and purchase agreements (“SPA”) with QatarEnergy to supply a total of 4 million tonnes per annum (“mtpa”) of LNG through 2054.
Under the SPAs, QatarEnergy has agreed to purchase 2 mtpa of LNG from each of SPL and CCL on a free-on-board (FOB) basis for a purchase price indexed to the Henry Hub price plus a fixed fee. Deliveries under the SPAs will begin in the early 2030s and continue through the end of 2054, with 1 mtpa of the SPL SPA subject to a positive Final Investment Decision with respect to the first phase of the SPL Expansion Project.
“These pivotal, multi-decade agreements with QatarEnergy, one of the world’s most important energy companies and a cornerstone of the global LNG industry, represent a major long-term commercial commitment and reinforce Cheniere’s position as the leader in U.S. LNG,” said Jack Fusco, Chairman, President and Chief Executive Officer. “We take pride that Cheniere’s track record of operational excellence, reliability and long-term customer focus provided the foundation for this landmark commercial relationship with QatarEnergy. We look forward to reliably supplying QatarEnergy from both Sabine Pass and Corpus Christi into the second half of this century.”
SPL Expansion Project
Through Cheniere Energy Partners, L.P. (NYSE: CQP), we are developing an expansion of the existing Sabine Pass Liquefaction Project (“SPL Project”) with an expected total peak production capacity of up to approximately 20 mtpa of LNG (the “SPL Expansion Project”), inclusive of estimated debottlenecking opportunities, which would grow the total production capacity of the SPL Project to over 50 mtpa of LNG. We expect to execute the SPL Expansion Project in a phased approach. The first phase is expected to include a single train, Train 7, and a boil-off gas re-liquefaction unit, along with supporting infrastructure and tie-ins to the existing Sabine Pass LNG terminal, and has an expected total production capacity of over 6 mtpa of LNG, inclusive of estimated debottlenecking opportunities. In May 2026, the lump sum, turnkey engineering, procurement, and construction (EPC) contract with Bechtel Energy, Inc. (“Bechtel”) for the first phase of the SPL Expansion Project was signed, and Bechtel was released to commence early engineering and procurement under a limited notice to proceed (LNTP).
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of LNG in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 56 mtpa of LNG in operation and an additional approximately 5 mtpa of expected production capacity under construction, inclusive of estimated debottlenecking opportunities. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, Dubai and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding regulatory authorization and approval expectations, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third-parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, share repurchases and execution on the capital allocation plan, and (viii) statements relating to our goals, commitments and strategies in relation to environmental matters. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Finanční ředitel společnosti Kinsale Capital Bryan P. Petrucelli odejde 2. března 2027 do důchodu; nahradí ho Christopher R. Tangard. Petrucelli se 22. října 2026 stane členem představenstva.
RICHMOND, Va.--(BUSINESS WIRE)--Kinsale Capital Group, Inc. (NYSE: KNSL) (the “Company”) announced today that Bryan P. Petrucelli, Executive Vice President, Chief Financial Officer and Treasurer, has been elected to the Company’s Board of Directors, effective October 22, 2026. Mr. Petrucelli also informed the Company that he intends to retire from his executive role on March 2, 2027. Christopher R. Tangard will succeed him as Executive Vice President, Chief Financial Officer and Treasurer effective upon Mr. Petrucelli’s retirement.
“Since Kinsale was founded in 2009, Bryan has played an integral role in our success, helping build the strong financial foundation and capital position that have supported our growth. I want to thank Bryan for his integrity, unwavering commitment to financial excellence, and sound business judgment. He has been a trusted partner throughout Kinsale’s evolution, and his leadership has left a lasting mark on our organization. While we wish Bryan well in his retirement from his executive role, we are pleased that he will continue to serve Kinsale as a Director. His deep understanding of our culture and strategy, together with his strong alignment with stockholder interests, makes him a valuable addition to our Board,” said Chairman, President and Chief Executive Officer, Michael P. Kehoe.
“Chris is a highly respected member of Kinsale’s senior leadership team. He understands how our technology-enabled, cost-efficient business model drives our success and has the expertise to lead our financial operations while supporting our long-term strategic priorities. I have great confidence in Chris’ ability to build on our strong foundation through disciplined financial stewardship and deliver best-in-class results for our stakeholders,” Mr. Kehoe continued.
“It has been a privilege to serve as Kinsale’s CFO and to work alongside such a talented team. I believe Chris is the right leader for our next chapter. He brings the experience, judgment and integrity needed to help Kinsale continue delivering profitable growth and creating long-term value for our stockholders. I look forward to supporting him during the transition and working with him as a member of the Board as we continue building Kinsale into the best excess and surplus lines company in the industry,” said Mr. Petrucelli.
Mr. Tangard has served as Senior Vice President, Chief Accounting Officer of the Company since March 2024. Mr. Tangard joined Kinsale in June 2019 as Director, Internal Audit and was promoted to Assistant Vice President, Internal Audit in March 2021 and to Vice President, Finance in March 2023, before assuming his current role. Prior to joining Kinsale, Mr. Tangard served as a Senior Manager in the audit practice of KPMG LLP.
Mr. Tangard holds a Bachelor of Arts in Economics and Commerce from Hampden-Sydney College and a Master of Accounting from William & Mary and is a Certified Public Accountant.
About Kinsale Capital Group, Inc.
Kinsale Capital Group, Inc. is a specialty insurance group headquartered in Richmond, Virginia, focusing on the excess and surplus lines market.
FMC snížila výhled na 3. čtvrtletí kvůli nákladům ve výši 625 až 675 mil. USD; očekává tržby ve výši 65 až 125 mil. USD a upravený ukazatel EBITDA v rozmezí −565 až −510 mil. USD.
Investigation centers on the October 15, 2026 news about FMC Corporation; investors with losses may have potential claims to recover them
LOS ANGELES--(BUSINESS WIRE)--FMC Corporation ("FMC" or the "Company") investors who lost money may have claims to recover their losses. The Law Offices of Frank R. Cruz today announced it is investigating potential securities fraud claims on behalf of investors in FMC Corporation (NYSE: FMC), examining whether the Company may have violated the federal securities laws. The investigation centers on the disclosure about FMC Corporation on October 15, 2026.
If you lost money on FMC Corporation securities, share your FMC Corporation loss information with the firm to learn about potentially pursuing a claim to recover your losses.
FMC Corporation investigation at a glance
Date of disclosure: October 15, 2026Share price decline: $2.47 per share, or 30.53%Closing price: $5.62 on October 15, 2026What happened?
On October 15, 2026, FMC provided an update to third quarter guidance, revealing third quarter adjusted EBITDA was expected to be negative $565 million to negative $510 million and revenue was expected to be $65 million to $125 million. The Company stated revised expectations now include commercial actions which are resulting in approximately $625 million to $675 million in charges impacting revenue and Adjusted EBITDA.
On this news, FMC stock fell $2.47 or 30.53%, to close at $5.62 on October 15, 2026.
"FMC Corporation shares dropped 30.53% after it was disclosed on October 15, 2026 that FMC had lowered its third quarter guidance, projecting adjusted EBITDA of negative $565 million to negative $510 million and revenue of $65 million to $125 million due to approximately $625 million to $675 million in charges tied to commercial actions. Our investigation will look at whether investors had complete and accurate information before that disclosure," said Frank R. Cruz of The Law Offices of Frank R. Cruz.
What should FMC Corporation investors do now?
The Law Offices of Frank R. Cruz is investigating potential claims on behalf of FMC Corporation investors. Investors who lost money can visit the FMC Corporation investigation page, email [email protected], or call 310-914-5007.
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
Questions and answers about the FMC Corporation investigation
Who is eligible? Investors who purchased FMC Corporation securities and suffered losses may have claims, and can contact the firm to find out whether the FMC Corporation investigation affects them.
What does a securities fraud investigation involve? In the FMC Corporation investigation, The Law Offices of Frank R. Cruz is examining whether the Company or its executives may have made false or misleading statements to investors in violation of the federal securities laws.
Is there a lawsuit? This release announces an investigation by The Law Offices of Frank R. Cruz, not a lawsuit. If a securities class action is later filed against FMC Corporation, investors may be able to seek appointment as lead plaintiff.
How are attorneys' fees handled? The Law Offices of Frank R. Cruz works on contingency, so investors pay no attorneys' fees unless there is a recovery, and any fees require court approval.
Information for whistleblowers
Anyone with non-public information about FMC Corporation should consider their options to assist the investigation or participate in the SEC Whistleblower Program. The program allows whistleblowers who provide original information leading to a successful SEC enforcement action to receive awards of 10 to 30 percent of the sanctions collected, when those sanctions exceed $1 million. For more information, contact Frank R. Cruz at 310-914-5007 or email [email protected].
About The Law Offices of Frank R. Cruz
The Law Offices of Frank R. Cruz investigates and prosecutes securities fraud and corporate malfeasance class actions. With nearly 20 years of litigation experience, the firm focuses on complex securities class actions and gives each client personal, one-on-one attention throughout the legal process.
Prior results do not guarantee a similar outcome.
Related links
FMC Corporation investigation page, The Law Offices of Frank R. CruzFMC Third Quarter UpdateFMC Corporation SEC filings index, EDGARSEC Whistleblower ProgramThe Law Offices of Frank R. CruzFollow The Law Offices of Frank R. Cruz for updates on Twitter: twitter.com/FRC_LAW
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
AmeriServ Bank převedla svůj program investičních služeb do skupiny Ameriprise Financial Institution Group; její poradci spravují klientská aktiva v hodnotě přibližně 525 milionů USD.
, /PRNewswire/ -- AmeriServ Bank has transitioned its investment services program to the Ameriprise Financial Institution Group (AFIG). The bank is headquartered in Johnstown, Pennsylvania. AmeriServ's financial advisors help clients manage approximately $525 million in assets across the state of Pennsylvania and Western Maryland. Through Ameriprise Financial, AmeriServ Bank clients will have access to a full range of leading services and solutions including:
Personalized advice and financial planning capabilities tailored to their individual needs.
Robust investment products to help them achieve their financial goals with more confidence.
Digital capabilities that allow clients to connect with their advisors where and how they want—face-to-face, online, video or phone meetings.
AmeriServ Board of Directors Chairman J. Michael Adams, Jr. elaborates, "We at AmeriServ are pleased and proud to join the Ameriprise (AMP) family of community bank partners. Moreover, we are tremendously excited about the key partnerships we have developed in 2026 with not only Ameriprise, but also SB Value Partners, LP and Federated Hermes. Together, we believe this trifecta can offer Pennsylvanians a unique, best-in-class wealth management value proposition. Our strategic plans are designed to grow the AmeriServ Wealth Management complex, which should increase ASRV intrinsic value for all shareholders, employees and partners alike. We are executing this plan with laser-like focus and speed as we close out '26 and look forward to an exciting '27."
About AmeriServ (ASRV)
AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank, located in Johnstown, PA. The bank provides full-service banking and wealth management services through 16 community offices in southwestern Pennsylvania and Hagerstown, Maryland. The Company also operates loan production offices in Altoona and Monroeville, Pennsylvania. As of September 30, 2026, the Company had total assets of $1.45 billion and a book value of $7.18 per common share.
AmeriServ Wealth and Capital Management, a division of AmeriServ Financial Bank, currently has $2.8 billion of customer assets under management and administration. AmeriServ Financial, Inc. is publicly traded on the NASDAQ stock exchange under the symbol ASRV.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 130 years1. With extensive investment advice, global asset management capabilities and insurance solutions, and a nationwide network of more than 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.
About Ameriprise Financial Institutions Group (AFIG)
With more than 30 years2 serving the investment program needs of banks and credit unions, Ameriprise Financial Institutions Group brings a depth of understanding, experience, and knowledge to the financial institutions space – helping deliver value for clients/members while driving revenue for the financial institutions. To find out why financial institutions are partnering with Ameriprise Financial, visit ameriprise.com/afig.
Ameriprise Financial Services has a partnership with this financial institution to provide financial planning services and solutions to clients. The financial institution is not an investment client of Ameriprise but has a revenue sharing relationship with us that creates a conflict of interest.
1 Company founded June 29, 1894
2 Investment Professionals, Inc (IPI) was founded in 1992 and specialized in the on-site delivery of investment programs for financial institutions. Ameriprise Financial, Inc. acquired IPI in 2017, bringing together the years of experience of the two organizations.
Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.
Ameriprise Financial Services partners with financial institutions to provide investment advisory, brokerage and insurance services to their clients. This is a contractual relationship, which earns the financial institution compensation from Ameriprise for successful referrals. In most cases, the financial institution also receives a majority of the commissions and fees generated by Ameriprise financial advisors for the services noted above. This applies as long as the referred client maintains a relationship with Ameriprise. Non-licensed employees of the financial institutions may receive incentives from their employer for referring clients to Ameriprise. These incentives create a conflict of interest.
Forward-Looking Statements
This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, market conditions, dividend program, and future payment obligations. These statements may be identified by such forward-looking terminology as "continuing," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy," or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the financial markets, the level of inflation, and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; competition levels; loan and investment prepayments differing from our assumptions; insufficient allowance for credit losses; a higher level of loan charge-offs and delinquencies than anticipated; material adverse changes in our operations or earnings; a decline in the economy in our market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume or an inability to close loans currently in the pipeline; changes in laws and regulations; adoption, interpretation and implementation of accounting pronouncements; operational risks, including the risk of fraud by employees, customers or outsiders; unanticipated effects to our banking platform, including risks and unanticipated costs related to a core system migration; developments in technology, such as artificial intelligence, and our ability to incorporate innovative technologies in our business and provide products and services that satisfy our customers' expectations for convenience and security; and the inability to successfully implement or expand new lines of business or new products and services. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement.
Zlato XAU/USD se po poklesu pod 4 000 USD na tříměsíční minimum mírně odrazilo, růst však omezuje očekávání, že Fed v prosinci zvýší sazby, kterému trh přisuzuje 80% pravděpodobnost.
Gold (XAU/USD) rebounds slightly after dropping to a fresh three-month low, below the $4,000 psychological mark during the Asian session on Friday, though the upside seems limited. The Federal Reserve (Fed) recently signaled that there is no urgency to raise interest rates. Traders, however, are still pricing in around an 80% chance that the US central bank will raise borrowing costs again at its December policy meeting. Moreover, oil-driven inflation fears underpin prospects for further Fed tightening, which turns out to be a key factor driving flows away from the non-yielding bullion.
In fact, crude oil prices sit near a one-month peak, touched on Tuesday, due to supply concerns stemming from escalating conflict in the Middle East. The fighting between Saudi Arabia and Yemen's Iran-backed Houthi movement has escalated sharply, leading to Houthi drone and missile strikes on the kingdom's airports and critical energy infrastructure. In further developments, Iran’s Islamic Revolutionary Guard Corps (IRGC) said that renewed US attacks could prompt Tehran to invade neighbouring countries and hit bases used in US military operations as part of its new offensive strategy.
This comes on top of a report that the US and Israel have drawn up plans for a short but intense military campaign against Iran after the US midterm elections and keeps the geopolitical risk premium in play. Moreover, hawkish Fed expectations help the safe-haven USD to recover slightly from a three-week low, which exerts additional downward pressure on the Gold price. Traders, however, might refrain from placing fresh directional bets and opt to wait for more cues about the Fed's policy path. Hence, the focus will remain on next week's highly anticipated two-day FOMC meeting.
The Fed will announce its decision on Wednesday and is widely expected to leave interest rates unchanged. In the absence of updated economic projections, investors will scrutinize the accompanying policy statement and Fed Chair Kevin Warsh's comments during the post-meeting press conference. This will be followed by the release of the Advance US Q3 GDP report and the US Personal Consumption Expenditures (PCE) Price Index – the Fed's preferred inflation gauge – next Thursday, which will play a key role in influencing the USD and provide a fresh impetus to the Gold price.
XAU/USD daily chart
Technical AnalysisThe overnight breakdown below a short-term trading range support and a sustained close below the $4,100 mark was seen as a key trigger for XAU/USD bears. Moreover, the Relative Strength Index at 34.34 hovers just above oversold territory, and the Moving Average Convergence Divergence (MACD) at -6.51 stays in negative territory, hinting that downside pressure persists despite some early signs of stabilization. The precious metal, however, shows some resilience below the $4,000 psychological mark, warranting some caution before positioning for further losses.
Meanwhile, any attempted recovery is more likely to attract fresh sellers and fizzle out near the trading range support breakpoint, now turned resistance, near the $4,065-$4,070 region. This is followed by the $4,100 round figure, which, if conquered, could trigger a short-covering rally and lift the XAU/USD pair to the $4,170 intermediate hurdle en route to the $4,200 mark. Sustained strength and acceptance above the latter is needed to back the case for a sustained near-term recovery.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Fed FAQs
Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates.
When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money.
When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions.
The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
Fond ARK Next Generation Internet ETF společnosti Cathie Wood ve středu nakoupil 18 783 akcií Netflixu za zhruba 1,2 milionu USD poté, co akcie Netflixu ve středu klesly o 5 %.
Cathie Wood might not have the following that she once did when her flagship fund, ARK Innovation ETF, more than doubled in 2020, but investors still keep track of her moves.
Ark Invest, her investment company, is the rare fund manager that discloses its moves on a daily basis, and Wood has always been open with her thinking and analysis, as she's known primarily for betting on disruptive innovation with stocks like Tesla.
So it was noteworthy that Ark added to its holdings of Netflix (NFLX +3.09%) on Wednesday, after the leading streamer delivered a disappointing third-quarter earnings report the night before, showing the company continues to struggle with weak engagement and slowing growth.
Wood's ARK Next Generation Internet ETF (Nasdaq: ARKW) bought 18,783 shares of the stock on Wednesday, or approximately $1.2 million worth of the stock.
Cathie Wood. Image source: Getty Images.
Wood's history with NetflixMost investors believe that Netflix's days as a disruptor are over, as it has become the incumbent in streaming, with legacy media companies now challenging it. The traditional cable ecosystem is quickly becoming a relic of the past.
Wood seems to have made a similar conclusion. Ark first invested in Netflix in 2016, and Ark accumulated its stake through 2020. As the business seemed to mature in 2021 and then briefly declined in 2022, Ark cut its stake and eventually exited the position by the third quarter of that year.
However, attracted by the company's launch of an advertising tier and its push into live entertainment, Ark reopened its position in Netflix last October.
The recent purchases, especially following the 5% slide on Wednesday, fit with Ark's strategy of buying out-of-favor growth stocks.
NFLX Netflix$67.05+$2.01 (+3.09%)
NASDAQ · As of 4:00 PM ET 10/22/26
Netflix's problems are real. Total viewing hours on the platform rose just 2% in the first half of the year, and it's losing viewing share to competitors like YouTube. According to Nielsen, its share of the U.S. audience fell from 8.8% to 7.8% in the year ended last July, while other streamers gained ground.
It also just cut its 2026 advertising revenue guidance from $3 billion to $2.7 billion due to technical challenges with its ad product, and the company has pulled back from sharing certain metrics with investors, such as subscriber growth. It also said it would only share engagement data once a year, which could lead to wild swings in the stock when it reports that number.
Overall, Netflix could certainly head lower in the near-term as the trend of slowing growth is set to continue at least into the fourth quarter. However, over the long term, the stock looks like a good bet to recover as the company should find its way back to putting out hits, and it just brought on a new Chief Content Officer, Peter Rice, to help on that front.
Buying the stock here with the price-to-earnings ratio at around 21 should pay off over the long term, though investors shouldn't expect a quick recovery, given the challenges facing the company.
LianLian Global uzavřela partnerství se společností PayPal, které jejím klientům umožní vyplácet tvůrce a dodavatele na účty PayPal na 96 trzích a na účty Venmo v USA.
Social commerce, marketplaces and eCommerce players served by LianLian Global can now pay creators, influencers, developers, and independent contractors directly to their PayPal and Venmo wallets.
, /PRNewswire/ -- LianLian Global today announced it has partnered with PayPal (NASDAQ: PYPL) to enable its social commerce, marketplace and e-commerce clients to send payouts directly to PayPal accounts globally and to Venmo accounts in the U.S.
The creator and gig economy runs on fast, low-friction payouts. Brands are expected to spend $32.6 billion on creators in 2026 and roughly 50 million people worldwide create content professionally or semi-professionally (Gigapay Global Creator Economy Report 2026). Many of these recipients already hold a PayPal or Venmo account: PayPal had over 400 million active accounts across approximately 200 markets at the end of Q2 2026, and Venmo reached 67 million monthly active accounts in Q4 2025.
Paypal Payouts is live in 96 global markets and 24 currencies. It allows merchants to send to any email address, mobile number, or Venmo user handle, with or without an existing PayPal or Venmo account.
To support enterprises expanding globally, LianLian Global provides digital payment services including pay-in, pay-out, acquiring, foreign exchange, virtual cards and payment aggregation. To date, its parent company Lianlian DigiTech has served more than 13.3 million clients. Its services reach more than 200 countries and regions, support transactions and settlement in more than 140 currencies, and connect with more than 180 global e-commerce platforms.
The partnership combines LianLian Global's cross-border collection, FX and compliance infrastructure with PayPal's global wallet network. Key offerings include:
Pay to PayPal: Payouts from LianLian Global clients to PayPal account holders in 96 markets, using only the recipient's email or phone number
Pay to Venmo: Domestic U.S. payouts to Venmo users, including creators, influencers and independent contractors
PayPal Payouts for Platforms: Mass disbursements for social commerce, marketplaces and affiliate platforms paying large numbers of sellers, creators and contractors
Speed to settle: Save time and money by eliminating check runs and postage; no need for routing numbers and bank accounts.
Sandra Lam, Deputy CEO of US at LianLian Global: "Social commerce is creating a new economy, where creators, influencers and independent sellers drive discovery and sales alongside the platforms they sell on. Paying these participants fast, across borders and in small amount is what powers the network effect of social commerce. We see our work with Paypal as a key step in building the payout rails for the global gig economy."
The collaboration expands LianLian Global's payout coverage and supports its growth in the U.S. and global markets as cross-border platforms scale their creator and contractor programs.
3 Low-Rated Stocks Analysts May Be Underestimating Ahead of Q3 EarningsSouthern Copper NYSE: SCCO reported record quarterly net sales, adjusted EBITDA and net income for the second consecutive quarter, supported by substantially higher copper and by-product prices, while production was broadly stable and the company advanced several expansion projects in Peru and Mexico.
Vice President of Finance, Treasurer and CFO Raul Jacob said third-quarter net sales rose 39% year over year to $4.7 billion. Copper accounted for 74% of sales, while molybdenum, silver and zinc represented 12%, 7% and 4%, respectively.
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Copper’s Record Rally Highlights a Deeper Supply ProblemThe company reported record adjusted EBITDA of $3 billion, up 54% from the third quarter of 2025, with an adjusted EBITDA margin of 65%, compared with 59% a year earlier. Net income reached a record $1.8 billion, a 63% increase from $1.1 billion in the prior-year quarter. The net income margin expanded to 38% from 33%.
“We are very pleased to report strong third quarter performance as we hit record highs for net sales, adjusted EBITDA, and net income for the second consecutive quarter,” Jacob said.
Higher Prices Offset Production Pressures
Copper Is the AI Trade No One Priced In—3 Miners With the Most to GainCopper production totaled 232,396 tons during the quarter, down 1% from a year earlier. Production in Peru declined 6%, reflecting lower ore grades and recoveries at the Toquepala and Cuajone mines. That decline was partly offset by a 2.5% increase in Mexico, driven largely by higher output from Buenavista and IMMSA operations.
For the first nine months of 2026, copper production declined 2.9% to 693,602 tons. Southern Copper expects to produce 918,000 tons of copper during 2026, 0.7% above its initial plan.
Market pricing was a significant contributor to the company’s results. The average London Metal Exchange copper price rose 44% to $6.41 per pound from $4.24 per pound in the third quarter of 2025. The average COMEX copper price increased 34% to $6.48 per pound, Jacob said.
Southern Copper estimated that global copper inventories totaled 1.105 million tons as of Oct. 9, covering approximately 14 days of global demand. Based on prevailing supply-and-demand conditions, the company expects either a slight deficit or slight surplus in the copper market during 2026.
By-product prices also rose sharply. Molybdenum averaged $32.93 per pound, up 36% year over year, while silver averaged $62.80 per ounce, up 59%. Zinc prices increased 36%, according to the company.
Cash Costs Fall as By-Product Credits Rise
Total operating costs and expenses increased 17%, or $223 million, from the prior-year quarter. Jacob cited higher diesel and fuel costs, worker participation, inventory consumption, depreciation, power and labor costs. Those increases were partially offset by a $22 million translation difference and exchange-rate effects on local-currency costs.
Operating cash cost per pound of copper, net of by-product credits, fell 77% to $0.09 in the third quarter from $0.52 a year earlier. The company attributed the decline primarily to a 31% increase in by-product revenue credits, which totaled $1.2 billion, or $2.36 per pound.
Cash costs before by-product credits were $2.46 per pound, up 10% from the comparison period cited by the company, as higher production and administrative costs were partly offset by premiums and treatment and refining benefits. Jacob said Southern Copper expects fourth-quarter cash costs before by-product credits to be in line with or slightly better than the third-quarter level, though he noted that costs remain difficult to forecast.
Expansion Projects Target More Than 1 Million Tons of Copper
Southern Copper’s capital investment program for the decade exceeds $21 billion. The company said projects under construction at Tía María in Peru and El Pilar in Mexico are expected to add a combined 156,000 tons of refined copper production annually, allowing the company to surpass 1 million tons of annual copper production.
Tía María is expected to produce 120,000 tons of SX-EW copper cathodes annually in its early years. Operations are scheduled to begin in the first half of 2028. As of Sept. 30, the project was 50% complete, with $884 million invested and $1.1 billion committed. Jacob said the revised timing reflected the additional time needed for mechanical assembly and engineering work. He did not provide an updated capital-cost estimate during the call.
El Pilar, in Mexico’s Sonora state, is expected to produce 36,000 tons of copper cathodes annually. The $551 million project began early site preparation in September, with construction expected to begin in the first quarter of 2027 and production targeted for the second half of 2029.
The company also outlined longer-term Peruvian projects:
Los Chancas: Expected annual production of 130,000 tons of copper and 7,500 tons of molybdenum, with estimated capital investment of $2.6 billion and a planned 2031 start. The company said illegal miners must be removed from its concession before development can proceed at a faster pace.
Michiquillay: Expected to produce 225,000 tons of copper annually, along with molybdenum, gold and silver by-products. Southern Copper estimates investment of approximately $2.5 billion and expects production by 2032.
Cuajone expansion: The company is evaluating an increase in milling capacity from 90,000 to 120,000 tons per day, requiring estimated capital spending of $680 million. The expansion could add average annual production of 55,000 tons of copper and 1,400 tons of molybdenum. Southern Copper is also studying a potential expansion to 150,000 tons per day.
Dividend Declaration
Southern Copper announced a quarterly cash dividend of $1.30 per common share and a stock dividend of 0.0126 common shares per share. Both are payable Nov. 19 to shareholders of record as of Nov. 3, 2026.
About Southern Copper (NYSE:SCCO)Southern Copper Corporation NYSE: SCCO is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.
Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Southern Copper Right Now?Before you consider Southern Copper, you'll want to hear this.
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SummaryBoston Scientific remains a 'hold' as growth decelerates and competitive pressures intensify, particularly in Watchman and electrophysiology segments.Management has shifted the growth focus to Interventional Cardiology, Endoscopy, and Neuromodulation, but meaningful improvements are not expected until 2028.Recent product recalls, a cybersecurity incident, and repeated guidance cuts further cloud near-term visibility and risk further downward revisions.Despite improved margins and a strong innovation pipeline, BSX's risk/reward profile is not compelling enough for a buy at current valuation.Solskin/DigitalVision via Getty Images
Boston Scientific (BSX) is headquartered in Massachusetts and was founded in 1979. As a specialist in medical devices, their business is driven by two key segments: Cardiovascular and MedSurg. The former represented about 2/3rd of their Q2 2026 revenue, in
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Rosen Law Firm vyšetřuje možné nároky akcionářů společnosti J.B. Hunt v souvislosti s údajně zavádějícími informacemi. Společnost ve třetím čtvrtletí očekávala náklady o zhruba 25 milionů USD vyšší než ve druhém čtvrtletí.
New York, New York--(Newsfile Corp. - October 22, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) resulting from allegations that J.B. Hunt may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased J.B. Hunt securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/cases/jb-hunt-transport-services-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
WHAT IS THIS ABOUT: On September 16, 2026, CNBC published an article entitled "J.B. Hunt stock plunges 10% after company warns third-quarter earnings will fall." The article further stated that J.B. Hunt's Chief Financial Officer had "said between costs for recruiting, advertising, onboarding, training and sign-on bonuses, the company expects to see about $25 million more in the third quarter compared with the second quarter."
On this news, J.B. Hunt's shares fell sharply in intraday trading on September 16, 2026.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
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SpaceX is in talks with cellular infrastructure companies to secure access to at least 80,000 sites across the United States, Bloomberg News reported on Thursday, citing people familiar with the matter.
The agreements would potentially solidify the company's path toward building a fourth nationwide wireless carrier.
SpaceX, which is buying nationwide low-band spectrum, is in talks with mobile infrastructure provider Crown Castle (CCI.N), according to the report
TD Cowen estimated a nationwide terrestrial network would cost more than $80 billion, requiring many years and billions in additional spending
The 80,000 sites would equal half the 158,500 purpose-built cell towers operational in the US last year, according to the Wireless Infrastructure Association
Crown Castle operates about 40,000 US cell towers, while American Tower (AMT.N) has about 42,000 US sites; privately held Vertical Bridge owns around 18,000
Crown Castle CEO Christian Hillabrant said on Wednesday it was talking to "all parties", when asked about potential leases with SpaceX and Amazon (AMZN.O), but declined to discuss specific customers
Crown Castle, American Tower, Vertical Bridge and SpaceX did not immediately respond to Reuters requests for comment
Shares of wireless carriers AT&T (T.N), Verizon (VZ.N) and T-Mobile (TMUS.O) fell between 4.2% and 5% in extended trading
You can't say it wasn't predictable, but will it really happen?
Investors have long speculated that Elon Musk could combine his two trillion-dollar companies, Space Exploration Technologies (SPCX -9.14%) and Tesla (TSLA -3.08%) now that SpaceX is publicly traded, and just four months after SpaceX's IPO, Musk has expressed interest in doing so. Earlier this year, SpaceX acquired xAI, Musk's AI company, another sign that he is trying to consolidate his empire.
The boards of Tesla and SpaceX have formed special committees to determine whether a merger is in their best interest. Musk is not participating in the review, having recused himself, though he did call a combination of the two companies "a good idea," citing operational synergies in AI, chip manufacturing, robotics, and other areas.
However, there's one simple reason why SpaceX investors may want to avoid a merger with Tesla. Elon Musk's EV company looks grossly overvalued.
Image source: The Motley Fool.
Tesla's valuation problemThird-quarter earnings are now in for both SpaceX and Tesla, and while SpaceX reported revenue more than doubling, thanks to the explosive growth of its AI infrastructure business, Tesla just reported a quarter flat revenue growth at $28 billion. Automotive revenue was down 3% to $20.5 billion, while services was the only one of its three business segments to report growth. Total deliveries of Tesla vehicles fell 2% to 486,532.
Tesla investors and others who watch the stock will know this isn't a new pattern. On a trailing four-quarter basis, Tesla's revenue has been roughly flat since 2023.
Demand for its EVs seems to have plateaued for a number of reasons, including new competition, concerns about range anxiety from later adopters, and Musk's own involvement in politics. Plateauing growth wasn’t Tesla's plan though, as Musk said in 2021 that the company would increase its production by 50% annually, though it eventually stepped back from that forecast after badly missing it starting in 2023.
More recently, Musk has been shifting investor focus to autonomy, namely its self-driving cars and Optimus autonomous robots, though Optimus is not on the market yet, and Tesla's full self-driving requires driver supervision.
Musk's promises, which include that Optimus will be "the biggest product on earth,' have helped keep the stock price elevated. Tesla now has a market cap of $1.53 billion and a price-to-earnings ratio of around 200.
Its valuation is almost entirely based on future products, but the company keeps delaying the timing of their market launch.
TSLA Tesla$374.58-$11.89 (-3.08%)
NASDAQ · As of 4:00 PM ET 10/22/26
What SpaceX gets from TeslaTesla's technology infrastructure and its development thus far on products like Optimus and full self-driving are worth something, but they seem to be currently valued at a $1 trillion or more, given the flat growth in the overall business.
A merger between SpaceX and Tesla would hide that bloated valuation from investors, benefiting Musk. At this stage, SpaceX investors would seem to be overpaying for Tesla in a merger, and that could hold the combined company back, especially if products like Optimus fail to live up to Musk's expectations.
Musk says that Optimus will ramp up production next year. Let SpaceX investors wait to see what demand for the humanoid robot will really look like. Meanwhile, the Tesla chief has made endless promises about vehicle autonomy being around the corner, but Alphabet's Waymo has rapidly expanded around the country, while visions like the Cybercab have yet to pay off. Notably, Alphabet's stock doesn't seem to reflect Waymo's growth in any way.
Right now, a merger between SpaceX and Tesla would shortchange SpaceX investors, diluting them for an overpriced asset. SpaceX has plenty of its own risks, but it is growing rapidly thanks to its new AI infrastructure business, and Starlink is a clear profit center.
At this point, SpaceX investors should reject a merger with Tesla, at least until either Tesla's price comes down or the company shows that it can move the financial needle with one of its two autonomy businesses.
Akcie AMD ve čtvrtek klesly o 8,1 %, protože růst cen ropy zvýšil obavy z inflace a vyšších nákladů na financování infrastruktury pro umělou inteligenci.
Advanced Micro Devices (AMD -8.10%) stock fell 8.1% on Thursday, Oct. 22, as oil prices jumped amid renewed conflict in the Middle East.
The S&P 500 and the Nasdaq Composite lost 1.2% and 2.6%, respectively.
AMD Advanced Micro Devices$507.93-$44.79 (-8.10%)
NASDAQ · As of 4:00 PM ET 10/22/26
Oil adds pressure to an expensive build-outRenewed attacks in Saudi Arabia from Houthi rebels raised fears of further disruptions to oil supplies.
Image source: Getty Images.
Brent Crude, an international benchmark for oil prices, topped $112 a barrel on Thursday, the highest level since May of this year. High energy prices threaten to drive already elevated inflation even higher, and that makes the outlook for borrowing costs more complicated.
The AI infrastructure build-out is incredibly expensive and is more and more fueled by debt as the big tech sees its cash flows diminish. Meta Platforms' Q3 report showed aggressive capital spending continuing, leading to a negative free cash flow (FCF) for the first time since 2012. So while there is no sign of spending slowing down today, the concern is whether the current pace is sustainable if borrowing costs continue to rise and how that will impact AMD's bottom line.
There was another factor at play from Meta's earnings: the company approved a new non-voting share class explicitly to be used to raise capital without diluting CEO Mark Zuckerberg's voting power.
Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Meta Platforms. The Motley Fool has a disclosure policy.
Fiverr International ve svých čtvrtletních výsledcích očekává EPS ve výši 0,36 USD a tržby ve výši 84,48 milionu USD, což představuje meziroční pokles o 53,25 %, respektive o 21,71 %.
In the latest close session, Fiverr International (FVRR - Free Report) was up +1.19% at $8.49. This change outpaced the S&P 500's 1.21% loss on the day. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq lost 2.6%.
The online marketplace for freelance services's stock has dropped by 1.53% in the past month, falling short of the Retail-Wholesale sector's gain of 3.07% and the S&P 500's loss of 0.03%.
Investors will be eagerly watching for the performance of Fiverr International in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 29, 2026. The company's upcoming EPS is projected at $0.36, signifying a 53.25% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $84.48 million, indicating a 21.71% decrease compared to the same quarter of the previous year.
FVRR's full-year Zacks Consensus Estimates are calling for earnings of $1.78 per share and revenue of $364.96 million. These results would represent year-over-year changes of -39.66% and -15.3%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Fiverr International. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.38% lower. Fiverr International is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Fiverr International has a Forward P/E ratio of 4.71 right now. This indicates a discount in contrast to its industry's Forward P/E of 15.42.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 35% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
DraftKings podle generálního ředitele Jasona Robinse rychle pronikl mezi tři největší hráče na trhu s predikčními kontrakty a rozšiřuje nabídku i mimo oblast sportu.
MarketBeat Week in Review – 10/05 - 10/09DraftKings NASDAQ: DKNG CEO Jason Robins said the company has quickly become a top-three player in prediction markets after launching DraftKings Exchange only a few months ago, while emphasizing that its established sportsbook business remains central to its strategy amid legal uncertainty surrounding sports event contracts.
Speaking with CNBC correspondent Contessa Brewer at an industry event, Robins said DraftKings has gained share despite offering prediction products in a more limited set of states than some competitors. DraftKings does not offer sports prediction markets in states where it holds sports-betting licenses, a decision Robins said protects the company’s regulated gaming operations and relationships with state regulators.
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Prediction-market growth and legal uncertainty
DraftKings Stacks the Deck: The $800M Prediction PivotRobins said DraftKings sees itself as positioned to benefit whether sports prediction markets remain broadly permitted or face restrictions through court decisions. He said the company has not made prediction markets its sole business, unlike some companies that are more dependent on the category.
“We actually feel like we put ourselves in this win-win spot where no matter what the outcome of that whole process is, we are well-positioned going forward,” Robins said.
Wall Street Is Betting These 3 Beaten-Down Stocks Have More Room to RunHe said DraftKings would like to offer all of its products to customers, including both sportsbooks and prediction markets. Even if sports contracts were restricted, he said the company sees opportunities in non-sports categories such as elections and financial markets.
Robins said DraftKings was “pleasantly surprised” by interest in financial markets, an area he said he had previously underappreciated. The company plans to further develop its non-sports prediction offerings over the coming months before promoting them more heavily, he said.
Asked whether the lower-tax nature of prediction markets makes that model particularly appealing compared with state-regulated sportsbooks, Robins said he expects states could eventually seek to tax a permanent sports prediction-market business. He also said traditional sportsbooks offer a better overall experience for most customers, citing the continued dominance of sportsbook wagering over exchange-based betting in Europe.
Unified wallet and product strategy
Robins said DraftKings’ work on sportsbook technology and product development helped accelerate its prediction-market rollout. Certain technology components could be adapted for prediction products, while years of customer data and testing helped the company understand product design and messaging, he said.
The company has also moved to combine multiple offerings within a unified app and wallet, allowing customers to access products such as sportsbook, Jackpocket, prediction markets and iCasino without separate accounts or deposits where available.
Robins said the strategy is designed to reduce friction for customers and has become more practical as technology has improved app performance and personalization. He said DraftKings uses artificial intelligence and machine learning to make content more relevant, such as surfacing Milwaukee Brewers-related offerings for a customer who regularly engages with that team.
“If we’re not using the latest technologies to do that, we’re not going to live up to our customers’ standards,” Robins said.
Responsible gaming and marketing concerns
Brewer asked Robins about reporting that DraftKings uses AI to target losing customers. Robins rejected that characterization, saying the company’s use of AI is often overstated and that machine-learning tools are used to tailor relevant content rather than encourage harmful behavior.
He said DraftKings operates a responsible-engagement team that reviews accounts when the company identifies potential signs of problematic play. According to Robins, the company uses the same responsible-trading tools in its prediction products that it uses in online sports betting, even when it is not required to do so.
Robins said he personally reviewed the customer history cited in a ProPublica report and found that DraftKings had sent “hundreds” of responsible-gaming notices and that a VIP host had repeatedly offered options including cooling-off periods and deposit limits.
He said the company generally seeks to encourage customers to take voluntary action, rather than automatically restrict accounts in every case, because behavior patterns can be difficult to interpret and voluntary limits may be more effective than restrictions that could lead a customer to another platform.
Investor outlook
Robins said uncertainty around the legal status of prediction markets may be limiting investor enthusiasm for DraftKings’ growing presence in the sector. He said investors may assign more value to the business as the company demonstrates growth in non-sports markets and as legal outcomes become clearer.
“Public markets are the opposite,” Robins said of private markets’ appetite for uncertainty. “They do not like uncertainty. They want predictable, steady earnings.”
Robins said DraftKings expects to report earnings in two weeks.
About DraftKings (NASDAQ:DKNG)DraftKings Inc is a digital sports entertainment and gaming company that operates online and mobile platforms for sports betting, casino gaming and daily fantasy sports. Its offerings include the DraftKings Sportsbook, DraftKings Casino and daily fantasy contests covering a range of professional and collegiate sports.
The company also provides related entertainment and media content through DraftKings Network, along with free-to-play games, promotions and other interactive products designed to complement its sports and gaming platforms.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Po dokončení fúze a získání konečného regulačního schválení se společnost Black Hills Corp. přejmenuje na Bright Horizon Energy Corporation a její akcie se budou na NYSE obchodovat pod symbolem HZN.
The Montana Public Service Commission is expected to consider the merger prior to Nov. 12, 2026, and completion remains subject to satisfactory final regulatory approval by the Commission.Trading under new company name and ticker symbol is only expected upon completion of the merger. RAPID CITY, S.D. and BUTTE, Mont. and SIOUX FALLS, S.D., Oct. 22, 2026 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) and NorthWestern Energy Group, Inc. d/b/a NorthWestern Energy (Nasdaq: NWE) today announced plans for the name and ticker symbol of the combined company in the event their proposed merger receives final, satisfactory regulatory approval and is completed. If the proposed merger is approved and completed, Black Hills Corp. will be renamed Bright Horizon Energy Corporation (“Bright Horizon Energy”), its common stock will trade on the New York Stock Exchange (NYSE) under the ticker symbol “HZN,” and NorthWestern Energy will become a wholly owned subsidiary of Bright Horizon Energy.
There is no action required by shareholders in connection with the name and ticker symbol change. Shares of Black Hills Corp. will continue trading under the symbol “BKH” on the NYSE and shares of NorthWestern Energy will continue trading under the symbol “NWE” on the Nasdaq while the merger is pending.
The merger has previously received approvals from shareholders of both companies, the regulatory commissions of Nebraska and South Dakota, the Federal Energy Regulatory Commission, and clearance under the Hart-Scott-Rodino Act.
About Black Hills Corp.
Black Hills Corp. (NYSE: BKH) is a customer-focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.37 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.
About NorthWestern Energy
NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, provides essential energy infrastructure and valuable services that enrich lives and empower communities while serving as long-term partners to our customers and communities. We work to deliver safe, reliable, and innovative energy solutions that create value for customers, communities, employees, and investors. We do this by providing low-cost and reliable service performed by highly adaptable and skilled employees. We provide electricity and / or natural gas to approximately 850,300 customers in Montana, South Dakota, Nebraska, and Yellowstone National Park. Our operations in Montana and Yellowstone National Park are conducted through our subsidiary, NW Corp, and our operations in South Dakota and Nebraska are conducted through our subsidiary, NWE Public Service. We have provided service in South Dakota and Nebraska since 1923 and in Montana since 2002.
Forward Looking Statements
Information in this communication, other than statements of historical facts, may constitute forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements about the planned name and ticker symbol of the combined company, its exchange listing, expectations regarding regulatory approvals and the timing thereof and other statements that are not historical facts. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “targets,” “scheduled,” “plans,” “intends,” “goal,” “anticipates,” “expects,” “believes,” “forecasts,” “outlook,” “estimates,” “potential,” or “continue” or negatives of such terms or other comparable terminology. The forward-looking statements are based on Black Hills and NorthWestern Energy’s current expectations, plans and estimates. Black Hills and NorthWestern Energy believe these assumptions to be reasonable, but there is no assurance that they will prove to be accurate. All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of Black Hills or NorthWestern Energy to differ materially from any results expressed or implied by such forward-looking statements. Such factors include, among others, (1) the risk of delays in consummating the potential transaction, including as a result of required regulatory approvals, which may not be obtained on the expected timeline, or at all, (2) the risk of any event, change or other circumstance that could give rise to the termination of the merger agreement, (3) the risk that required regulatory approvals are subject to conditions not anticipated by Black Hills and NorthWestern Energy, (4) the possibility that any of the anticipated benefits and projected synergies of the potential transaction will not be realized or will not be realized within the expected time period, (5) disruption to the parties’ businesses as a result of the announcement and pendency of the transaction, including potential distraction of management from current plans and operations of Black Hills or NorthWestern Energy and the ability of Black Hills or NorthWestern Energy to retain and hire key personnel, (6) reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the transaction, (7) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (8) the outcome of any legal or regulatory proceedings that may be instituted against Black Hills or NorthWestern Energy related to the merger agreement or the transaction, (9) the risks associated with third party contracts containing consent and/or other provisions that may be triggered by the proposed transaction, (10) legislative, regulatory, political, market, economic and other conditions, developments and uncertainties affecting Black Hills’ or NorthWestern Energy’s businesses; (11) the evolving legal, regulatory and tax regimes under which Black Hills and NorthWestern Energy operate; (12) restrictions during the pendency of the proposed transaction that may impact Black Hills’ or NorthWestern Energy’s ability to pursue certain business opportunities or strategic transactions; and (13) unpredictability and severity of catastrophic events, including, but not limited to, extreme weather, natural disasters, acts of terrorism or outbreak of war or hostilities, as well as Black Hills’ and NorthWestern Energy’s response to any of the aforementioned factors.
Additional factors which could affect future results of Black Hills and NorthWestern Energy can be found in Black Hills’ Registration Statement on Form S-4 as well as its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and NorthWestern Energy’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, in each case filed with the SEC and available on the SEC’s website at http://www.sec.gov. Black Hills and NorthWestern Energy disclaim any obligation and do not intend to update or revise any forward-looking statements contained in this communication, which speak only as of the date hereof, whether as a result of new information, future events or otherwise, except as required by federal securities laws.
No Offer or Solicitation
This document is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any 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 offering 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.
Black Hills Corp. ContactsNorthWestern Energy ContactsInvestorsInvestorsSal DiazTravis [email protected]@northwestern.com MediaMedia24-Hour Media Relations LineJo Dee Black888-242-3969866-622-8081 [email protected]
For the quarter ended September 2026, Kinsale Capital Group, Inc. (KNSL - Free Report) reported revenue of $454.8 million, down 8.6% over the same period last year. EPS came in at $5.70, compared to $5.21 in the year-ago quarter.
The reported revenue represents a surprise of -5.02% over the Zacks Consensus Estimate of $478.84 million. With the consensus EPS estimate being $4.95, the EPS surprise was +15.15%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Kinsale Capital Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Expense Ratio: 22% versus the five-analyst average estimate of 21.5%.Combined Ratio: 75.4% versus 80% estimated by five analysts on average.Loss Ratio: 53.4% versus the five-analyst average estimate of 58.5%.Revenues- Net investment income: $58.27 million versus $58.31 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +17.5% change.Revenues- Other income: $0.15 million versus $0.4 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -80.5% change.Revenues- Net Earned Premiums: $423.47 million versus $408.72 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +3.1% change.Revenues- Fee Income: $11.1 million versus the four-analyst average estimate of $11.58 million. The reported number represents a year-over-year change of +7.8%.View all Key Company Metrics for Kinsale Capital Group here>>>
Shares of Kinsale Capital Group have returned +11% over the past month versus the Zacks S&P 500 composite's no change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
WSFS Financial (WSFS - Free Report) reported $287.57 million in revenue for the quarter ended September 2026, representing a year-over-year increase of 6.3%. EPS of $1.75 for the same period compares to $1.40 a year ago.
The reported revenue represents a surprise of +0.04% over the Zacks Consensus Estimate of $287.45 million. With the consensus EPS estimate being $1.61, the EPS surprise was +8.7%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how WSFS performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 56.1% versus 58.1% estimated by four analysts on average.Net Interest Margin: 3.9% versus the four-analyst average estimate of 3.9%.Net charge-offs to average gross loans: -0% versus the three-analyst average estimate of 0.3%.Common equity Tier 1 capital: 13.7% versus 13.4% estimated by two analysts on average.Total risk-based capital: 15.5% versus 15.1% estimated by two analysts on average.Leverage Ratio: 10.4% versus 10.1% estimated by two analysts on average.Net Interest Income: $196.59 million versus $196.79 million estimated by four analysts on average.Mortgage banking activities, net: $0.97 million versus the three-analyst average estimate of $1.7 million.Total Non-Interest Income: $90.98 million versus the three-analyst average estimate of $90.97 million.Investment management and fiduciary revenue: $53.93 million versus the two-analyst average estimate of $48.51 million.Credit/debit card and ATM income: $14.82 million versus $15.37 million estimated by two analysts on average.Other income: $11.96 million compared to the $15.42 million average estimate based on two analysts.View all Key Company Metrics for WSFS here>>>
Shares of WSFS have returned -0.2% over the past month versus the Zacks S&P 500 composite's no change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
7 Best Stocks for the Next 30 Days
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Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
Ameris Bancorp ve čtvrtletí vykázala upravený zisk 1,73 USD na akcii, čímž překonala odhad 1,68 USD na akcii, zatímco tržby ve výši 322,79 milionu USD zaostaly za očekáváním o 1,19 %.
Ameris Bancorp (ABCB - Free Report) came out with quarterly earnings of $1.73 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $1.53 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +2.98%. A quarter ago, it was expected that this bank would post earnings of $1.66 per share when it actually produced earnings of $1.6, delivering a surprise of -3.61%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Ameris Bancorp, which belongs to the Zacks Banks - Southeast industry, posted revenues of $322.79 million for the quarter ended September 2026, missing the Zacks Consensus Estimate by 1.19%. This compares to year-ago revenues of $315.19 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Ameris Bancorp shares have added about 8.6% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for Ameris Bancorp?While Ameris Bancorp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Ameris Bancorp was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.69 on $325.79 million in revenues for the coming quarter and $6.61 on $1.29 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
First Community Bancshares (FCBC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026.
This holding company for First Community Bank is expected to post quarterly earnings of $0.77 per share in its upcoming report, which represents a year-over-year change of +10%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
First Community Bancshares' revenues are expected to be $47.48 million, up 12.5% from the year-ago quarter.
Sallie Mae (SLM - Free Report) reported $339.32 million in revenue for the quarter ended September 2026, representing a year-over-year decline of 9%. EPS of -$0.19 for the same period compares to $0.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $353.66 million, representing a surprise of -4.05%. The company delivered an EPS surprise of -258.33%, with the consensus EPS estimate being $0.12.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Sallie Mae performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 4.9% versus 4.9% estimated by two analysts on average.Efficiency Ratio: 58.8% versus 47.7% estimated by two analysts on average.Net Interest Income: $339.32 million versus the two-analyst average estimate of $349.1 million.Gains (losses) on sales of loans, net: $3.65 million versus the two-analyst average estimate of $47.28 million.Total Non-Interest Income: $36.15 million versus $102.97 million estimated by two analysts on average.View all Key Company Metrics for Sallie Mae here>>>
Shares of Sallie Mae have returned -3.3% over the past month versus the Zacks S&P 500 composite's no change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Akcie společnosti Super Micro Computer od oznámení jejího zařazení do indexu S&P 500 klesly o 60,86 % na 35,44 USD; indexové fondy včetně VOO je musely nakoupit.
When Super Micro Computer joined the S&P 500, index funds had no choice but to buy in at the peak of the hype. What happened next reveals a hidden cost that never appears on any fee disclosure.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
On March 1, 2024, the day its addition to the S&P 500 was announced, Super Micro Computer (NASDAQ:SMCI | SMCI Price Prediction) closed at a split-adjusted $90.55. As of October 21, 2026, it traded at $35.44. From that announcement close, the dividend-adjusted price change is -60.86%. If you own Vanguard S&P 500 ETF (NYSEARCA:VOO), your fund had to buy the stock anyway.
Look at the headlines from that day. CNBC wrote that Super Micro was joining the index after its price soared more than twentyfold in two years. Reuters reported that the shares surged on the news. The stock was announced for inclusion on March 1 and entered the index soon thereafter. The figures in this article all start from the announcement date, not from Super Micro’s first day inside the index.
Your Fund’s Rulebook Buys Stocks Without Judging the Price
Vanguard’s April 28, 2026 prospectus spells out the mechanism clearly. The fund “attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.”
Read that as a rule, because that is how the fund works. The announcement moves the price. Then the fund purchases after the news that raised the stock is already public. Index funds are price-takers (buyers who accept any price) at inclusion. They have no option to wait for a better entry.
Your Fee Is Tiny, and Timing Never Appears on the Bill
The visible cost is minimal. Total annual expenses run 0.03%. The prospectus puts that at $3 in the first year on a $10,000 investment and $39 over 10 years, assuming a 5% annual return. Portfolio turnover was 1% in the first half of 2026, which keeps trading costs and tax drag low.
The fee line leaves out what the fund paid to own a stock just after the market had already priced in the good news. That cost shows up only in returns, and no factsheet lists it.
One Holding Among Hundreds Has Limited Reach
Keep this in proportion. As of June 30, 2026, the fund held 519 stocks and $1,675,038 million in net assets. A single holding in a portfolio that size has limited effect on the whole fund. The ETF itself has returned 14.4% year-to-date and 16.58% over the past year.
Super Micro has also swung hard in both directions since the announcement. The stock is up 21.08% year-to-date, down 35.61% over the past year, and up nearly 9% during the October 21 session, after preliminary sales figures lifted AI stocks, according to Bloomberg. Some index additions rise after they join. Super Micro is one example of a structural feature. It does not prove a rule.
The same market-cap rules also pour money into whatever has already run. Information technology made up 38.0% of the fund’s net assets at midyear. That concentration is a second cost an index buyer accepts without being asked.
Switching to a Twin Fund Leaves the Mechanism in Place
iShares Core S&P 500 ETF (NYSEARCA:IVV) tracks the same index, so it works on the same addition calendar. Changing issuers changes the logo, and the buying schedule remains the same. Avoiding post-inclusion timing would mean a fund whose managers judge prices, and that brings higher fees and a manager who can also be wrong. The rules that purchase Super Micro are the same rules that keep this fund cheap, diversified, and free of any manager’s guesswork.
What This Means for Your Retirement Account
For a long-term holder adding money steadily, the cost of inclusion timing is usually a rounding error. It is part of what you get for paying $3 a year per $10,000. It starts to matter when a hot stock joins at a significant weight, or when the index’s largest sector already represents nearly 40% of your portfolio. Index funds do sometimes buy at the wrong time, by design. The question worth asking is whether you understand when your index fund purchases, and whether you can live with that schedule.
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Bloom Energy ve čtvrtletí do září 2026 dosáhla upraveného zisku 0,94 USD na akcii a tržeb 1,24 miliardy USD, čímž překonala očekávání o 32,39 %, respektive 15,41 %.
Bloom Energy (BE - Free Report) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +32.39%. A quarter ago, it was expected that this developer of fuel cell systems would post earnings of $0.39 per share when it actually produced earnings of $0.78, delivering a surprise of +100%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Bloom Energy, which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $1.24 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 15.41%. This compares to year-ago revenues of $519.05 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Bloom Energy shares have added about 174.5% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for Bloom Energy?While Bloom Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Bloom Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.85 on $1.27 billion in revenues for the coming quarter and $2.68 on $4.14 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Alternative Energy - Other is currently in the top 43% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
XPLR Infrastructure (XIFR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026. The results are expected to be released on November 3.
This limited partnership for clean-energy projects is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of +62.2%. The consensus EPS estimate for the quarter has been revised 6.8% higher over the last 30 days to the current level.
XPLR Infrastructure's revenues are expected to be $294.91 million, down 6.4% from the year-ago quarter.
Comfort Systems ve čtvrtletí skončeném v září 2026 zvýšil upravený zisk na akcii (EPS) na 13,91 USD a tržby na 3,77 miliardy USD, čímž překonal odhady analytiků.
Comfort Systems (FIX - Free Report) came out with quarterly earnings of $13.91 per share, beating the Zacks Consensus Estimate of $12.71 per share. This compares to earnings of $8.25 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +9.44%. A quarter ago, it was expected that this heating, ventilation and air conditioning company would post earnings of $10.38 per share when it actually produced earnings of $12.53, delivering a surprise of +20.71%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Comfort Systems, which belongs to the Zacks Building Products - Air Conditioner and Heating industry, posted revenues of $3.77 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 12.45%. This compares to year-ago revenues of $2.45 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Comfort Systems shares have added about 50.1% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for Comfort Systems?While Comfort Systems has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Comfort Systems was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $12.85 on $3.44 billion in revenues for the coming quarter and $48.40 on $12.93 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Air Conditioner and Heating is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Lennox International (LII - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026. The results are expected to be released on October 28.
This manufacturer of furnaces, air conditioners and other products is expected to post quarterly earnings of $7.18 per share in its upcoming report, which represents a year-over-year change of +2.9%. The consensus EPS estimate for the quarter has been revised 3.7% lower over the last 30 days to the current level.
Lennox International's revenues are expected to be $1.57 billion, up 10% from the year-ago quarter.
First Interstate BancSystem ve 3. čtvrtletí 2026 vykázala výnosy ve výši 250,6 mil. USD, což představuje meziroční pokles o 0,5 %, a EPS 0,65 USD oproti odhadu 0,70 USD.
For the quarter ended September 2026, First Interstate BancSystem (FIBK - Free Report) reported revenue of $250.6 million, down 0.5% over the same period last year. EPS came in at $0.65, compared to $0.69 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $248.88 million, representing a surprise of +0.69%. The company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being $0.70.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Interstate BancSystem performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net FTE interest margin ratio: 3.6% versus 3.5% estimated by four analysts on average.Net charge-offs to average loans: 0.3% versus the four-analyst average estimate of 0.3%.Efficiency Ratio: 61.7% compared to the 63.7% average estimate based on four analysts.Total risk-based capital to total risk-weighted assets: 17.2% compared to the 17.7% average estimate based on two analysts.Average Balance - Total interest earning assets: $23.18 billion versus $23.36 billion estimated by two analysts on average.Leverage ratio: 9.5% versus 9.8% estimated by two analysts on average.Total non-performing loans: $151.1 million versus the two-analyst average estimate of $147.91 million.Total non-performing assets: $155 million compared to the $153.68 million average estimate based on two analysts.Tier 1 risk-based capital to total risk-weighted assets: 14.4% versus 14.9% estimated by two analysts on average.Net Interest Income: $206.2 million versus the four-analyst average estimate of $204.89 million.Total noninterest Income: $43.3 million compared to the $42.6 million average estimate based on four analysts.Mortgage banking revenues: $1.5 million compared to the $1.56 million average estimate based on four analysts.View all Key Company Metrics for First Interstate BancSystem here>>>
Shares of First Interstate BancSystem have returned -1% over the past month versus the Zacks S&P 500 composite's no change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Associated Banc-Corp ve čtvrtletí končícím v září 2026 vykázala upravený zisk ve výši 0,76 USD na akcii, což odpovídalo odhadům, a výnosy ve výši 464,38 milionu USD.
Associated Banc-Corp (ASB - Free Report) came out with quarterly earnings of $0.76 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.73 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this bank holding company would post earnings of $0.72 per share when it actually produced earnings of $0.73, delivering a surprise of +1.39%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Associated Banc-Corp, which belongs to the Zacks Banks - Midwest industry, posted revenues of $464.38 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 0.08%. This compares to year-ago revenues of $386.49 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Associated Banc-Corp shares have added about 13.3% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for Associated Banc-Corp?While Associated Banc-Corp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Associated Banc-Corp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.79 on $470.65 million in revenues for the coming quarter and $2.95 on $1.78 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
First Financial Bancorp (FFBC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026. The results are expected to be released on October 27.
This holding company for First Financial Bank is expected to post quarterly earnings of $0.82 per share in its upcoming report, which represents a year-over-year change of +7.9%. The consensus EPS estimate for the quarter has been revised 3.5% higher over the last 30 days to the current level.
First Financial Bancorp's revenues are expected to be $270.2 million, up 14.9% from the year-ago quarter.
Hilltop Holdings vykázala za čtvrtletí EPS ve výši 0,44 USD, což je o 31,25 % pod odhadem, a tržby ve výši 309,51 milionu USD, oproti 330,2 milionu USD ve stejném období loňského roku.
Hilltop Holdings (HTH - Free Report) came out with quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -31.25%. A quarter ago, it was expected that this insurance holding compnay would post earnings of $0.42 per share when it actually produced earnings of $0.63, delivering a surprise of +50%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Hilltop Holdings, which belongs to the Zacks Banks - Southeast industry, posted revenues of $309.51 million for the quarter ended September 2026, missing the Zacks Consensus Estimate by 3.23%. This compares to year-ago revenues of $330.2 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Hilltop Holdings shares have added about 7.5% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for Hilltop Holdings?While Hilltop Holdings has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Hilltop Holdings was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.65 on $321.33 million in revenues for the coming quarter and $2.55 on $1.26 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Colony Bankcorp (CBAN - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on October 28.
This bank holding company is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +10.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Colony Bankcorp's revenues are expected to be $41.2 million, up 25.7% from the year-ago quarter.
Should You Invest in Hilltop Holdings Inc. (HTH)?
Before you invest in Hilltop Holdings Inc. (HTH), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
Oceaneering ve třetím čtvrtletí zvýšila tržby o 6 % na 785 milionů USD a upravený ukazatel EBITDA o 7 % na 119 milionů USD, což je nejvíce od roku 2015.
3 Swing Trades for Q3 Earnings SeasonOceaneering International NYSE: OII reported third-quarter 2026 revenue growth across all of its operating segments, with adjusted EBITDA reaching its highest quarterly level since the fourth quarter of 2015.
Revenue rose 6% from a year earlier to $785 million, while operating income increased 7% to $92 million and adjusted EBITDA climbed 7% to $119 million. Net income attributable to Oceaneering declined 26% to $52.6 million, or $0.52 per share, primarily because of a one-time loss associated with refinancing long-term debt during the quarter.
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President and Chief Executive Officer Rod Larson said the quarter reflected favorable pricing and project mix, led by Subsea Robotics, resilience in the Offshore Projects Group and improved performance in Integrity Management and Digital Solutions.
Subsea Robotics Margin Improves
Subsea Robotics, or SSR, generated $233 million in revenue and $75.4 million in operating income. The segment’s EBITDA margin reached 39%, its highest level since Oceaneering resegmented its businesses in 2020.
The improvement was driven by stronger remotely operated vehicle, or ROV, pricing in Europe, West Africa and Norway, as well as increased survey activity. Average revenue per utilized ROV day increased to $11,781 from $11,254 a year earlier. A one-time contractual cost recovery tied to U.S. Gulf operations also aided margins.
ROV fleet utilization remained at 65%, as increased activity in Europe, Guyana and West Africa offset lower activity in the U.S. Gulf. As of Sept. 30, Oceaneering had ROV contracts on 80 of the 136 floating rigs under contract, representing a 59% market share. Its fleet remained at 250 ROV systems.
The company secured about $180 million in ROV and survey awards across several regions during the quarter, with contract terms extending into 2031.
Orders, Defense Awards and Cash Generation
Manufactured Products reported operating income of $25.1 million, roughly flat from the prior-year quarter, despite an 8% increase in revenue. Operating margin declined slightly to 15%, largely reflecting lower Grayloc project activity and profitability relative to a particularly profitable order in the prior-year period.
Manufactured Products received approximately $160 million in new awards during the quarter and ended September with backlog of $435 million. Its trailing 12-month book-to-bill ratio was 0.77, though management said it remains confident it can achieve a full-year ratio of 0.9 to 1.0.
In Aerospace and Defense Technologies, or ADTech, revenue increased 7% to $135 million as a previously announced large-scale program reached full staffing for its current phase. Operating income fell 11% to $14.7 million and margin declined to 11%, reflecting greater pass-through activity and certain higher expenses.
ADTech also secured follow-on contracts for two U.S. Navy programs: a dry deck shelter program with potential value of $154 million over five years, and a submarine rescue systems contract with potential value of $67 million over 18 months.
Cash flow from operations totaled $163 million, while capital expenditures were $21.1 million. Free cash flow was $142 million, aided by lower cash taxes and delayed capital spending. Larson said capital expenditures and cash taxes are expected to rise in the fourth quarter, resulting in more moderate free cash flow generation.
Oceaneering ended the quarter with $735 million in cash, more than $1 billion in total liquidity and no borrowings under its revolving credit facility. The company repurchased about $5 million of stock during the quarter, primarily to offset dilution from employee equity grants.
Fourth-Quarter Outlook
For the fourth quarter, Oceaneering expects year-over-year consolidated revenue growth and adjusted EBITDA of $85 million to $95 million.
SSR revenue is expected to increase on higher ROV day rates and survey activity, though operating income is expected to decline due to geographic mix, rig-relocation mobilization costs and a greater mix of lower-margin survey work.
Manufactured Products is expected to post higher revenue and operating income.
Offshore Projects Group revenue is expected to be relatively flat, with lower operating income due to project mix and lower-margin U.S. Gulf work.
Integrity Management and Digital Solutions is expected to report higher revenue and operating income.
ADTech is expected to deliver higher revenue and operating income.
Unallocated expenses are projected to be in the $50 million range.
Initial 2027 Outlook Cites Deepwater and Defense Opportunities
Oceaneering initiated 2027 adjusted EBITDA guidance of $430 million to $480 million and said free cash flow should exceed its anticipated 2026 level. Management pointed to an improving global deepwater market, with floating rig activity expected to strengthen as rigs complete moves to new regions and begin drilling programs.
Larson said the broad guidance range primarily reflects the timing of SSR rig movements, potential international project awards in Offshore Projects Group and the timing of ADTech program starts amid the U.S. appropriations process.
“We have to make sure that we’re not overstating when it starts,” Larson said, describing management’s approach as cautious on the timing of expected market improvement rather than a change in its underlying outlook.
For 2027, the company expects SSR revenue and operating income to increase, supported by higher utilization and improved survey and tooling results. It expects Manufactured Products results to be relatively flat; Offshore Projects Group revenue to decline but margins to improve; and increased revenue, operating income and margins in both IMDS and ADTech.
Management identified Brazil, Guyana, the rest of Africa and Mozambique as areas of expected activity growth, while noting that the U.S. Gulf has already slowed and remains an area to monitor. Larson also cited potential opportunities in the Eastern Mediterranean, Norway and subsea tieback projects.
On capital allocation, management said it expects to continue investing in core energy businesses and may pursue selective ADTech acquisitions involving capabilities such as machining, workforce capacity, electronics or sensor technology. Larson said the company does not see a need to acquire high-multiple defense businesses simply to establish customer credibility. Oceaneering plans to continue repurchasing shares in 2027, with about 5 million shares remaining under its current authorization.
About Oceaneering International (NYSE:OII)Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.
Oceaneering also develops advanced technologies for government and commercial customers.
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