Market Signal Briefing

Sugar Land, TX, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Woojer, the global leader in immersive haptic audio technology, has announced a strategic partnership with Texas Logistic & Fulfillment Services, one of the most advanced third-party logistics (3PL) providers in the United States.

Oct 28 (Reuters) - Teradyne

(TER.O), opens new tab on Tuesday forecast fourth-quarter revenue above Wall Street expectations, banking on robust demand for its chip-testing equipment, and named a new chief financial officer.

Shares of the company surged more than 21% in extended trading, after it also surpassed estimates for third-quarter revenue.

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Teradyne said Michelle Turner, former CFO at defense contractor L3Harris Technologies

(LHX.N), opens new tab, has been appointed as its finance chief effective November 3. Turner will succeed Sanjay Mehta, who has been the company's CFO since 2019 and plans to retire in 2026.

It forecast fourth-quarter revenue to be between $920 million and $1 billion, compared with analysts' average estimate of $814.3 million, according to data compiled by LSEG.

The upbeat outlook underscores how the artificial intelligence investment boom is reverberating across the semiconductor supply chain, driving demand for companies such as Teradyne that provide testing and automation tools essential for chip quality assurance and mass production.

Teradyne's fourth-quarter sales are expected to increase 25% sequentially and 27% from the year earlier, CEO Greg Smith said.

The company also expects adjusted earnings per share to be between $1.20 and $1.46 for the fourth quarter, while analysts estimate $1.02.

Its third-quarter revenue of $769.2 million beat expectations of $743.8 million.

Reporting by Kritika Lamba and Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar

Our Standards: The Thomson Reuters Trust Principles., opens new tab

EDMONTON, AB / ACCESS Newswire / October 28, 2025 / Agereh Technologies Inc. ("Agereh" or the "Company") (TSXV:AUTO)(OTCQB:CRBAF) announces that the Company has completed the debt settlement that was announced on October 20, 2025 having received approval of the Board of Directors and the TSX Venture Exchange. 1,574,158 common shares of the Company ("Settlement Shares") were issued in that transaction in settlement of $393,540 outstanding debt (the "Debt") at $0.25 per Settlement Share (the "Shares for Debt Transaction").

HomeIndustriesFood/Beverages/TobaccoEarnings ResultsEarnings ResultsMondelez says it reached ‘peak cost’Published: Oct. 28, 2025 at 5:56 p.m. ET

Mondelez International Inc., the maker of Oreo cookies, Ritz crackers and Sour Patch Kids candy, said late Tuesday it reached “peak costs” and dialed down its expectations for the year.

Chicago-based Mondelez MDLZ said that it expected “challenging conditions” to continue in some markets, although it was encouraged by a recent moderation in cocoa prices and signs of a strong cocoa crop this year. Mondelez’s brands also include chocolate and candy maker Cadbury, Toblerone and Brazil’s Lacta chocolates.

About the Author

Claudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter @ClaudiaAssisMW.

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NEW YORK, Oct. 28, 2025 (GLOBE NEWSWIRE) -- A securities fraud class action lawsuit against KinderCare Learning Companies, Inc. (NYSE:KLC) is pending. The lawsuit was filed by Robbins Geller Rudman & Dowd LLP. A previous press release stated incorrectly that Levi & Korsinsky filed the case. This press release makes that correction. There are no other changes. If you suffered a loss on your investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/kindercare-learning-companies-inc-lawsuit-submission-form

or contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

THE LAWSUIT: A class action securities lawsuit was filed against KinderCare Learning Companies, Inc. that seeks to recover losses on behalf of KinderCare Learning Companies, Inc. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of all purchasers of KinderCare common stock in or traceable to the Company’s October 2024 initial public offering.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (a) numerous incidents of child abuse, neglect, and harm had occurred at KinderCare facilities; (b) KinderCare did not provide the “highest quality care possible” at its facilities, and, indeed, in numerous instances had failed to provide even basic care, meet minimum standards in the child care industry, or comply with the laws and regulations governing the care of children; and (c) as a result of (a)-(b) above, KinderCare was exposed to a material, undisclosed risk of lawsuits, adverse regulatory action, negative publicity, reputational damage, and business loss.

WHAT'S NEXT? If you suffered a loss in KinderCare Learning Companies, Inc. stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/kindercare-learning-companies-inc-lawsuit-submission-form to learn about your rights to seek a recovery. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/

SOURCE: Levi & Korsinsky, LLP

, /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) will announce its financial results for the third quarter on Thursday, November 6, 2025, after the close of U.S.-based financial markets. Howard Robin, President and Chief Executive Officer, will host a conference call to review the results beginning at 5:00 p.m. Eastern Time/2:00 p.m. Pacific Time.

This press release and live audio-only webcast of the conference call can be accessed through a link that is posted on the Home Page and Investors section of the Nektar website: https://ir.nektar.com/. The web broadcast of the conference call will be available for replay through December 6, 2025.

To access the conference call, please pre-register at Nektar Earnings Call Registration. All registrants will receive dial-in information and a PIN allowing them to access the live call. 

About Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar's lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one in atopic dermatitis, one in alopecia areata, and in one Phase 2 clinical trial in Type 1 diabetes mellitus. Nektar's pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's natural ability to fight cancer, in several ongoing clinical trials.

Nektar is headquartered in San Francisco, California. For further information, visit www.nektar.com and follow us on LinkedIn.

Contacts:

For Investors:

Vivian Wu
[email protected]

Corey Davis, Ph.D.
LifeSci Advisors, LLC
[email protected] 
212-915-2577

Ahu Demir, Ph.D.
LifeSci Advisors, LLC
[email protected] 
212-915-3820

For Media:

Jonathan Pappas
LifeSci Communications
857-205-4403
[email protected] 

SOURCE Nektar Therapeutics

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PANAMA CITY , Oct. 28, 2025 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX, "Bladex", or "the Bank"), a Panama-based multinational bank originally established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade and economic integration in the Region, announced today its results for the Third Quarter ("3Q25") and nine months ("9M25") ended September 30, 2025.

NEW YORK, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Kirby McInerney LLP reminds Baxter International, Inc. (“Baxter” or the “Company”) (NYSE:BAX) investors of the December 15, 2025 deadline to seek the role of lead plaintiff in a pending federal securities class action.

If you purchased or otherwise acquired Baxter securities, have information, or would like to learn more, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or fill out the form below, to discuss your rights or interests.

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Happened?

On April 7, 2025, safety concerns regarding Baxter’s Novum IQ Large Volume Pump (“Novum LVP”), a device used for the delivery of intravenous fluids that carry medications, blood products, and nutrients to patients, began to surface after a Missouri news outlet reported serious safety issues relating to inaccurate infusion with the Novum LVPs based on information from a whistleblower. Just weeks after the whistleblower report, on April 24, 2025, Baxter sent customers a warning letter about potential underinfusion risks associated with the Novum LVP, disclosing only one serious injury linked to this issue. Then, on July 14, 2025, Baxter issued a second warning letter reiterating the underinfusion risks and adding the risk of overinfusion with the Novum LVP. The letter also revealed that Baxter had received 79 reports of serious injury and two reports of patient deaths related to the Novum LVP. Finally, on July 31, 2025, the Company announced that it had decided to “voluntarily and temporarily pause shipments and planned installations of the Novum LVP” and that the Company was “unable to currently commit to an exact timing for resuming shipment and installation for Novum LVPs.” On this news, the price of Baxter shares declined by $6.29 per share, or approximately 22.4%, from $28.05 per share on July 30, 2025, to close at $21.76 on July 31, 2025.

What Is The Lawsuit About?

The lawsuit has been filed on behalf of investors who purchased securities during the period of February 23, 2022 through July 30, 2025, inclusive (“the Class Period”). The lawsuit alleges that, throughout the Class Period, Defendants misled investors by failing to disclose that: (i) the Novum LVP suffered systemic defects that caused widespread malfunctions, including underinfusion, overinfusion, and complete non-delivery of fluids, which exposed patients to risks of serious injury or death; (ii) Baxter was notified of multiple device malfunctions, injuries, and deaths from these defects; (iii) Baxter’s attempts to address these defects through customer alerts were inadequate remedial measures, when design flaws persisted and continued to cause serious harm to patients; and (iv) as a result, there was a heightened risk that customers would be instructed to take existing Novum LVPs out of service and that Baxter would completely pause all new sales of these pumps.

[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]

What Should I Do?

If you purchased or otherwise acquired Baxter securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

[WHAT IS A SECURITIES CLASS ACTION?]

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP        
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
[email protected]

By

PYMNTS
 | 
October 28, 2025

 | 

Highlights

SoFi’s personal loan charge-offs fell to 2.60% from 2.83% in Q2, while 90-day delinquencies held at 43 basis points. Student loan charge-offs eased to 0.69%.

SoFi originated $3.4 billion in loans for third parties and completed a $466 million securitization as buyers increased commitments.

The company launched SoFi Pay, an AI-powered Cash Coach, and previewed a 2026 stablecoin initiative alongside plans to relaunch crypto trading.

SoFi reported its Q3 earnings Tuesday morning (Oct. 28), and the message was straightforward: Its mostly prime borrowers look resilient, and their spending is steady.

Pressed by analysts on consumer credit, CEO Anthony Noto said the company’s real-time view across checking, investing and lending shows “very strong” credit performance and day-to-day activity. 

“The first message is our credit performing very well … not just the performance of credit, but the spending that we see in SoFi Money [digital banking], the engagement that we see in SoFi Invest and general behavior overall,” Noto told analysts. 

CFO Chris Lapointe underscored that assessment, saying “the health of our consumer remains strong and our credit continues to improve.” Personal‑loan borrowers carry a weighted‑average FICO of 745; student‑loan borrowers average a 773, LaPointe said. The personal‑loan annualized charge‑off rate fell to 2.60% from 2.83% last quarter, with 90‑day delinquencies holding at 43 basis points. Student‑loan charge‑offs eased to 0.69%, with 90‑day delinquencies at 14 basis points. 

On the macro backdrop, Noto said the company is positioned to do well if rates stay where they are and to benefit if they fall. Lower rates would “meaningfully” lift student‑loan refinancing and help home‑equity and mortgage demand, he said.

The company expects to maintain healthy net‑interest margins and has historically run a 65-70% deposit rate, LaPointe noted. LaPointe said SoFi card and deposit spend totaled nearly $20 billion in annualized transactions, up 55% year over year, which he interpreted as evidence of healthy consumer activity.

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Capital Markets
He also described a “flight to quality” among capital‑markets partners, with several upsizing commitments to buy SoFi‑originated loans. The Loan Platform Business originated $3.4 billion for third parties in Q3, and SoFi executed a $466 million securitization backed by those loans.

Management said buyers are consolidating toward platforms they view as higher quality, and several partners increased commitments heading into Q4. There was some investor concern in that area, but at least one Wall Street analyst firm filed a bullish report after the call.

“Investor attention is focused on signs of deteriorating consumer health and private credit exposure,” wrote Andrew Jeffrey at analyst firm William Blair. “However, SoFi continues to fire on all cylinders. The company saw 20-basis-point-plus improvements in losses across personal and student loans while delinquencies were about stable sequentially, all while accelerating core origination (excluding LPB) growth to about 23% from 19%, quarter over quarter. Personal loan NCOs were the lowest in two years. Despite macro concerns around private credit, SoFi suggested it has seen an uptick in demand, with $3.4 billion of originations in the third quarter. We believe SoFi is benefiting from a flight to quality driven by superior loan performance.”

Other developments from the call:

Product pipeline: SoFi launched SoFi Pay, a blockchain‑enabled remittance service, and said it will relaunch crypto trading, letting members buy, sell and hold dozens of tokens within the SoFi app while previewing plans for a SoFi‑branded stablecoin in 2026. The firm also rolled out an AI‑powered Cash Coach and teased a coming SoFi Smart Card with rewards and credit‑builder features. 
Student loans: Asked about potential federal moves, including possible sales of government‑held student‑loan portfolios, Noto said SoFi would “absolutely dig into it” for both acquisition and servicing opportunities and stands ready to fill gaps if federal lending limits tighten. 

SoFi reported record GAAP net revenue of $961.6 million (adjusted: $949.6 million) and net income of $139 million for Q3. The company added a record 905,000 new members, bringing total membership to 12.6 million, and 1.4 million new products for 18.6 million total products. Fee‑based revenue hit a quarterly record, and deposits grew to $32.9 billion.

Management raised full‑year 2025 guidance for adjusted revenue, adjusted EBITDA and adjusted EPS. The company raised its 2025 guidance again, projecting $3.54 billion in adjusted revenue and $1 billion in adjusted EBITDA, signaling confidence in sustained growth.

Quarterly Revenue Increased 192.5% Year over Year to $12.8 Million Driven by Higher SSi Mantra 3 Unit Sales

Fort Lauderdale, FL, October 28, 2025 – PRISM MediaWire (Press Release Service – Press Release Distribution) – SS Innovations International, Inc. (the “Company” or “SS Innovations”) (Nasdaq: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today announced unaudited financial results for the three and nine months ended September 30, 2025.  The Company also filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, with the Securities and Exchange Commission on October 28, 2025.

Third Quarter 2025 Overview

Revenue increased 192.5% to $12.8 million from $4.4 million in the third quarter of 2024.
Gross margin of 48.1% compared to 52.8% in the third quarter of 2024.
Gross profit rose 166.0% to $6.2 million from $2.3 million in the third quarter of 2024.  
Net loss of $3.7 million, or $(0.02) per diluted share, compared to a net loss of $3.2 million, or $(0.02) per diluted share, in the third quarter of 2024.
SSi Mantra surgical robotic system installations totaled 27, up 350.0% from 6 installations in the third quarter of 2024 and up 17.4% from 23 installations in the second quarter of 2025.

First Nine Months 2025 Overview

Revenue increased 123.0% to $28.0 million from $12.5 million in the first nine months of 2024.
Gross margin expanded to 47.1% from 35.8% in the first nine months of 2024.
Gross profit rose 193.7% to $13.2 million from $4.5 million in the first nine months of 2024. 
Net loss of $9.7 million, or $(0.05) per diluted share, compared to net loss of $17.2 million, or $(0.10) per diluted share, in the first nine months of 2024.
SSi Mantra surgical robotic system installations totaled 63, up 152.0% from 25 installations in the first nine months of 2024.

As of September 30, 2025

Long-term debt of $0.
Cash and cash equivalents totaled $5.7 million, excluding restricted cash.     
SSi Mantra cumulative installed base totaled 127 in seven countries and cumulative surgeries reached 6,057, including 56 telesurgeries and 319 cardiac procedures.

CEO Commentary

Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, “We delivered strong revenue growth in the third quarter of 2025, driven by higher unit sales of our advanced, cost-effective SSi Mantra 3 surgical robotic system in India and abroad.  The SSi Mantra’s rapidly expanding installed base and increasing utilization reflect its cost advantages, ease of use, differentiated features, and compelling surgical outcomes.” 

Dr. Srivastava continued, “We’ve become a leader in the large and growing India market and remain committed to democratizing access globally to cutting edge surgical robotic care.  We now have regulatory approval for the SSi Mantra in seven countries and are taking steps to enter the U.S. and European Union markets. In September 2025, we successfully completed a human factors validation study at Johns Hopkins Hospital.  This study will be an integral component of our upcoming 510(k) premarket notification, which we anticipate submitting to U.S. Food and Drug Administration (the “FDA”) in the fourth quarter of 2025.  We also continue along the pathway towards a European Union CE marking certification in the first half of 2026.  In conclusion, we are making good progress towards important regulatory milestones and remain well positioned for continuing robust organic growth in our existing markets.”

Select Business Highlights in Third Quarter 2025

On September 9, 2025, the Company announced the successful completion of the first robotic telesurgery performed with the SSi Mantra surgical robotic system from the Mantra M mobile robotic telesurgery unit.
On September 16, 2025, the Company announced the successful completion of the world’s first pediatric pyeloplasty telesurgery utilizing the SSi Mantra surgical robotic system.
On September 26, 2025, the Company announced the appointment of Naveen Kumar Amar as Chief Financial Officer.
In September 2025, the Company successfully completed a human factors validation study for the SSi Mantra at Johns Hopkins Hospital.  This study will be a key component of the Company’s 510(k) premarket notification, which is expected to be submitted to the FDA in the fourth quarter of 2025.

Revenue Breakdown and Summary of Installations / Surgeries

1 at period end

Upcoming Investor Conferences
SS Innovations is scheduled to participate in the following upcoming investor conferences:

UBS Global Healthcare Conference
Palm Beach Gardens, FL
Tuesday, November 11, 2025
Management will be available for one-on-one and small group meetings throughout the day.

Stifel 2025 Healthcare Conference
New York, NY
Wednesday, November 12, 2025
Group presentation: 4:40 p.m. Eastern Time
Management will be available for one-on-one and small group meetings throughout the day.

A live webcast and replay of the Stifel group presentation will be accessible on the Company’s website at https://ssinnovations.com/investor-overview/.

About SS Innovations
SS Innovations International, Inc. (Nasdaq: SSII) develops innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger segment of the global population. The Company’s product range includes its proprietary “SSi Mantra” surgical robotic system and its comprehensive suite of “SSi Mudra” surgical instruments, which support a variety of surgical procedures including robotic cardiac surgery. An American company headquartered in India, SS Innovations plans to expand the global presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions. Visit the Company’s website at ssinnovations.com or LinkedIn for more information and updates.

About the SSi Mantra
The SSi Mantra surgical robotic system is a user-friendly, modular, multi-arm system with many advanced technology features, including: 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, a touch panel monitor for all patient related information display, a virtual real-time image of the robotic patient side arm carts, and the ability for superimposition of 3D models of diagnostic imaging. A vision cart provides the table-side team with the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The SSi Mantra utilizes over 40 different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery. The SSi Mantra has been clinically validated in India in more than 100 different types of surgical procedures.

Forward Looking Statements
This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “will,” “intend,” “may,” “plan,” “project,” “should,” “could,” “seek,” “designed,” “potential,” “forecast,” “target,” “objective,” “goal,” or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SS Innovations’ future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Investor Contact:
The Equity Group        
Kalle Ahl, CFA                
T: (303) 953-9878        
[email protected]

Devin Sullivan, Managing Director
T: (212) 836-9608
[email protected]

Media Contact:
RooneyPartners LLC
Kate Barrette
T: (212) 223-0561
[email protected]

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Source: SS Innovations International, Inc.

October 28, 2025 17:01 ET

 | Source:

Centerra Gold Inc

TORONTO, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that its Board of Directors has approved a quarterly dividend of C$0.07 per common share – approximately C$14.1 million or US$10.1 million in aggregate. The quarterly dividend is payable on November 26, 2025, to shareholders of record as of the close of business on November 13, 2025. The dividend is an eligible dividend for Canadian income tax purposes.

In accordance with Centerra’s dividend policy, the timing and quantum of dividends are to be determined by the Board of Directors from time-to-time based on, among other things, the Company’s operating results, cash flow and financial conditions, current and anticipated capital requirements, and general business conditions.

About Centerra Gold
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra’s shares trade on the Toronto Stock Exchange (“TSX”) under the symbol CG and on the New York Stock Exchange (“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.

For more information: 
Lisa Wilkinson
Vice President, Investor Relations & Corporate Communications
(416) 204-3780
[email protected]

Additional information on Centerra is available on the Company’s website at www.centerragold.com, on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.

Standard Chartered Chief Sustainability Officer Marisa Drew discusses why she believes purpose and profit can go hand in hand.

Q3: 2025-10-27 Earnings SummaryEPS of $0.52 beats by $0.03

 |

Revenue of

$418.60M

(18.32% Y/Y)

beats by $9.58M

TMX Group Limited (TSX:X:CA) Q3 2025 Earnings Call October 28, 2025 8:00 AM EDT

Company Participants

Amin Mousavian - Vice President of Investor Relations, Treasury & Administration
John McKenzie - CEO & Director
David Arnold - Chief Financial Officer

Conference Call Participants

Benjamin Budish - Barclays Bank PLC, Research Division
Etienne Ricard - BMO Capital Markets Equity Research
Aravinda Galappatthige - Canaccord Genuity Corp., Research Division
Stephen Boland - Raymond James Ltd., Research Division
Jaeme Gloyn - National Bank Financial, Inc., Research Division
Graham Ryding
Bart Dziarski - RBC Capital Markets, Research Division

Presentation

Operator

Thank you for standing by. This is your conference operator. Welcome to the TMX Group Limited Third Quarter 2025 Results Conference Call. [Operator Instructions] The conference call is being recorded. [Operator Instructions] I would now like to turn the conference over to Mr. Amin Mousavian, Vice President of Investor Relations and Treasurer and Interim Chief Risk Officer. Please go ahead, Mr. Mousavian.

Amin Mousavian
Vice President of Investor Relations, Treasury & Administration

Good morning, everyone. We join you from our Montreal office today to discuss the 2025 third quarter results for TMX Group. We announced our results for another outstanding quarter and our fifth consecutive double-digit revenue growth, highlighting strong performance across all of our business units. Copies of our press release and MD&A are available on tmx.com under Investor Relations.

This morning, we have with us John McKenzie, our Chief Executive Officer; and David Arnold, our Chief Financial Officer. Following the opening remarks, we'll have a question-and-answer session. Before we begin, let's cover our forward-looking legal disclosure.

Certain statements made during the call may relate to future events and expectations and constitute forward-looking information within the meaning of the Canadian securities law. Actual results may differ materially from these expectations and additional information is contained in our press release and periodic

Recommended For You

NEW YORK, Oct. 28, 2025 (GLOBE NEWSWIRE) -- A securities fraud class action lawsuit against Dow Inc. (NYSE: DOW) is pending. The lawsuit was filed by Pomerantz LLP. A previous press release stated incorrectly that Levi & Korsinsky filed the case. This press release makes that correction. There are no other changes. If you suffered a loss on your investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/dow-inc-lawsuit-submission-form

or contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

THE LAWSUIT: A class action securities lawsuit was filed against Dow Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between January 30, 2025 and July 23, 2025.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Dow’s ability to mitigate macroeconomic and tariff-related headwinds, as well as to maintain the financial flexibility needed to support its lucrative dividend, was overstated; (ii) the true scope and severity of the foregoing headwinds’ negative impacts on Dow’s business and financial condition was understated, particularly with respect to competitive and pricing pressures, softening global sales and demand for the Company’s products, and an oversupply of products in the Company’s global markets; and (iii) as a result, defendants’ public statements were materially false and misleading at all relevant times.

WHAT'S NEXT? If you suffered a loss in Dow Inc. stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/dow-inc-lawsuit-submission-form to learn about your rights to seek a recovery. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/

SOURCE: Levi & Korsinsky, LLP

WESTFORD, Mass., Oct. 28, 2025 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) reported its financial results for the third quarter ended September 27, 2025.

Third Quarter Financial Highlights

Revenue was $272 million in both periodsGross margin increased 50 basis points to 45.2%Net income decreased 12% to $28 millionGAAP EPS decreased 12% to $2.35Adjusted EPS decreased 9% to $2.59Adjusted EBITDA decreased 8% to $58 million and represented 21.4% of revenueOperating cash flow decreased 10% to $47 million
Note: Percent changes above are based on comparison to the prior year period. All references to earnings per share (EPS) are to our EPS as calculated on a diluted basis. Adjusted EPS, adjusted EBITDA, adjusted EBITDA margin, free cash flow, and changes in organic revenue are non-GAAP financial measures that exclude certain items as detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”

Management Commentary
“Despite a persistent softness in demand for capital equipment and continued global trade uncertainties, our businesses executed well and delivered solid gross margin performance during the quarter,” said Jeffrey L. Powell, president and chief executive officer of Kadant Inc. “Our businesses exceeded our earnings expectations led by record revenue performance in our aftermarket parts business.”

Third Quarter 2025 Compared to 2024
Revenue was $271.6 million in both periods. Organic revenue decreased four percent, which excludes increases of two percent from an acquisition and two percent from the favorable effect of foreign currency translation. Gross margin was 45.2 percent compared to 44.7 percent in 2024.

Net income was $27.7 million, decreasing 12 percent compared to $31.6 million in 2024. GAAP EPS decreased 12 percent to $2.35 compared to $2.68 in 2024 and adjusted EPS decreased nine percent to $2.59 compared to $2.84 in 2024. Adjusted EPS excludes acquisition-related costs of $0.22 and other costs of $0.02 in 2025 and acquisition-related costs of $0.15 in 2024.

Adjusted EBITDA decreased eight percent to $58.0 million and represented 21.4 percent of revenue compared to a record $63.3 million and 23.3 percent of revenue in 2024. Operating cash flow decreased 10 percent to $47.3 million compared to $52.5 million in 2024. Free cash flow decreased nine percent to $44.1 million compared to $48.3 million in 2024.

Bookings decreased one percent to $238.4 million compared to $240.3 million in 2024. Organic bookings decreased four percent, which excludes increases of one percent from an acquisition and two percent from the favorable effect of foreign currency translation.

Summary and Outlook
“We anticipate healthy demand for aftermarket parts and improving order activity for our capital equipment in the fourth quarter following prolonged delays in project execution,” continued Mr. Powell. “We are incorporating our recent acquisitions into our guidance and now expect revenue of $1.036 to $1.046 billion in 2025, revised from our previous guidance of $1.020 to $1.040 billion. We are maintaining our adjusted EPS guidance of $9.05 to $9.25. The 2025 adjusted EPS guidance excludes $0.51 of acquisition-related costs and $0.02 of other costs, revised from $0.16 of acquisition-related costs in our previous guidance. We now expect GAAP EPS of $8.52 to $8.72 in 2025, revised from our previous GAAP EPS guidance of $8.89 to $9.09. For the fourth quarter of 2025, we expect revenue of $270 to $280 million, GAAP EPS of $1.91 to $2.11 and, after excluding $0.14 of acquisition-related costs, adjusted EPS of $2.05 to $2.25.”

Conference Call
Kadant will hold a webcast with a slide presentation for investors on Wednesday, October 29, 2025, at 11:00 a.m. Eastern Time to discuss its third quarter financial performance, as well as future expectations. To listen to the call live and view the webcast, go to the “Investors” section of the Company’s website at kadant.com. Participants interested in joining the call’s live question and answer session are required to register by clicking here or selecting the Q&A link on our website to receive a dial-in number and unique PIN. It is recommended that you join the call 10 minutes prior to the start of the event. A replay of the webcast presentation will be available on our website through November 28, 2025.

Prior to the call, our earnings release and the slides used in the webcast presentation will be filed with the Securities and Exchange Commission and will be available at sec.gov. After the webcast, Kadant will post its updated general investor presentation incorporating the third quarter results on its website at kadant.com under the “Investors” section.

Use of Non-GAAP Financial Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including increases or decreases in revenue excluding the effect of acquisitions and foreign currency translation (organic revenue), adjusted operating income, adjusted net income, adjusted EPS, earnings before interest, taxes, depreciation, and amortization (EBITDA), adjusted EBITDA, adjusted EBITDA margin, and free cash flow.

We use organic revenue to understand our trends and to forecast and evaluate our financial performance and compare revenue to prior periods. Organic revenue excludes revenue from acquisitions for the four quarterly reporting periods following the date of the acquisition and the effect of foreign currency translation. Revenue in the third quarter of 2025 included $5.9 million from an acquisition and a favorable foreign currency translation effect of $4.2 million compared to the third quarter of 2024. Revenue in the first nine months of 2025 included $14.8 million from acquisitions and a favorable foreign currency translation effect of $0.5 million compared to the first nine months of 2024. Our other non-GAAP financial measures exclude acquisition costs, amortization expense related to acquired profit in inventory and backlog, and other income or expense, as indicated. Collectively, these items are excluded as they are not indicative of our core operating results and are not comparable to other periods, which have differing levels of incremental costs, expenditures or income, or none at all. Additionally, we use free cash flow in order to provide insight on our ability to generate cash for acquisitions and debt repayments, as well as for other investing and financing activities.

We believe these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, operating results, or future outlook. We believe that the inclusion of such measures helps investors gain an understanding of our underlying operating performance and future prospects, consistent with how management measures and forecasts our performance, especially when comparing such results to previous periods or forecasts and to the performance of our competitors. Such measures are also used by us in our financial and operating decision-making and for compensation purposes. We also believe this information is responsive to investors' requests and gives them additional measures of our performance.

The non-GAAP financial measures included in this press release are not meant to be considered superior to or a substitute for the results of operations or cash flows prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this press release have limitations associated with their use as compared to the most directly comparable GAAP measures, in that they may be different from, and therefore not comparable to, similar measures used by other companies.

Third Quarter

Adjusted operating income, adjusted EBITDA, and adjusted EBITDA margin exclude:

Pre-tax acquisition costs of $2.3 million in 2025 and $0.5 million in 2024.Pre-tax amortization of acquired profit in inventory and backlog of $0.6 million in 2025 and $1.9 million in 2024.Pre-tax impairment costs of $0.3 million in 2025.Pre-tax indemnification asset provision of $0.2 million in 2024. Adjusted net income and adjusted EPS exclude:

After-tax acquisition costs of $2.2 million ($2.3 million net of tax of $0.1 million) in 2025 and $0.4 million ($0.5 million net of tax of $0.1 million) in 2024.After-tax amortization of acquired profit in inventory and backlog of $0.5 million ($0.6 million net of tax of $0.1 million) in 2025 and $1.4 million ($1.9 million net of tax of $0.5 million) in 2024.After-tax impairment costs of $0.2 million ($0.3 million net of tax of $0.1 million) in 2025.
Free cash flow is calculated as operating cash flow less:

Capital expenditures of $3.2 million in 2025 and $4.2 million in 2024.
First Nine Months

Adjusted operating income, adjusted EBITDA, and adjusted EBITDA margin exclude:

Pre-tax acquisition costs of $3.5 million in 2025 and $2.5 million in 2024.Pre-tax amortization of acquired profit in inventory and backlog of $1.2 million in 2025 and $6.2 million in 2024.Pre-tax impairment costs of $0.3 million in 2025.Pre-tax indemnification asset provision of $0.2 million in 2024. Adjusted net income and adjusted EPS exclude:

After-tax acquisition costs of $3.4 million ($3.5 million net of tax of $0.1 million) in 2025 and $2.1 million ($2.5 million net of tax of $0.4 million) in 2024.After-tax amortization of acquired profit in inventory and backlog of $0.9 million ($1.2 million net of tax of $0.3 million) in 2025 and $4.7 million ($6.2 million net of tax of $1.5 million) in 2024.After-tax impairment costs of $0.2 million ($0.3 million net of tax of $0.1 million) in 2025.
Free cash flow is calculated as operating cash flow less:

Capital expenditures of $11.0 million in 2025 and $15.4 million in 2024.
Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in this press release.

Financial Highlights (unaudited)    (In thousands, except per share amounts and percentages)           Three Months Ended Nine Months EndedConsolidated Statement of IncomeSeptember 27,
2025 September 28,
2024 September 27,
2025 September 28,
2024Revenue$271,567  $271,614  $766,044  $795,354 Costs and Operating Expenses:       Cost of revenue 148,906   150,175   416,011   441,066 Selling, general, and administrative expenses 75,839   69,043   221,001   209,352 Research and development expenses 3,919   3,409   11,166   10,621 Other costs 287   —   287   —   228,951   222,627   648,465   661,039 Operating Income 42,616   48,987   117,579   134,315 Interest Income 373   407   1,329   1,386 Interest Expense (3,089)  (5,516)  (10,249)  (15,386)Other Expense, Net (19)  (16)  (52)  (48)Income Before Provision for Income Taxes 39,881   43,862   108,607   120,267 Provision for Income Taxes 11,766   11,964   29,416   31,810 Net Income 28,115   31,898   79,191   88,457 Net Income Attributable to Noncontrolling Interests (393)  (312)  (1,247)  (891)Net Income Attributable to Kadant$27,722  $31,586  $77,944  $87,566         Earnings per Share Attributable to Kadant:       Basic$2.35  $2.69  $6.62  $7.46 Diluted$2.35  $2.68  $6.61  $7.44         Weighted Average Shares:       Basic 11,777   11,745   11,771   11,737 Diluted 11,802   11,780   11,790   11,763                   Three Months Ended
 Three Months Ended
Adjusted Net Income and Adjusted Diluted EPS (a)September 27,
2025
 September 27,
2025
 September 28,
2024
 September 28,
2024
Net Income and Diluted EPS Attributable to Kadant, as Reported$27,722  $2.35  $31,586  $2.68 Adjustments, Net of Tax:           Acquisition Costs 2,172   0.18   398   0.03 Acquired Profit in Inventory and Backlog Amortization 459   0.04   1,432   0.12 Other Costs 216   0.02   —   — Adjusted Net Income and Adjusted Diluted EPS (a)$30,569  $2.59  $33,416  $2.84              Nine Months Ended  Nine Months Ended  September 27,
2025
 September 27,
2025
 September 28,
2024
 September 28,
2024
Net Income and Diluted EPS Attributable to Kadant, as Reported$77,944  $6.61  $87,566  $7.44 Adjustments, Net of Tax:           Acquisition Costs 3,390   0.29   2,126   0.18 Acquired Profit in Inventory and Backlog Amortization 925   0.08   4,730   0.40 Other Costs 216   0.02   —   — Adjusted Net Income and Adjusted Diluted EPS (a)$82,475  $7.00  $94,422  $8.03                   Three Months Ended   Increase
(Decrease)
Excluding Acquisitions
and FX (a,b)Revenue by SegmentSeptember 27,
2025 September 28,
2024 Increase
(Decrease) Flow Control$94,839  $97,521  $(2,682) $(4,696)Industrial Processing 106,393   110,696   (4,303)  (11,202)Material Handling 70,335   63,397   6,938   5,745  $271,567  $271,614  $(47) $(10,153)        Percentage of Parts and Consumables Revenue 69%  65%             Nine Months Ended Increase
(Decrease)
 Increase
(Decrease)
Excluding Acquisitions
and FX (a,b) September 27,
2025 September 28,
2024  Flow Control$283,227  $276,493  $6,734  $(1,748)Industrial Processing 291,854   331,310   (39,456)  (43,977)Material Handling 190,963   187,551   3,412   1,137  $766,044  $795,354  $(29,310) $(44,588)        Percentage of Parts and Consumables Revenue 72%  65%             Three Months Ended Increase
(Decrease)
 Increase
(Decrease)
Excluding Acquisitions
and FX (b)Bookings by SegmentSeptember 27,
2025 September 28,
2024  Flow Control$93,844  $88,981  $4,863  $2,877 Industrial Processing 85,162   89,319   (4,157)  (7,877)Material Handling 59,349   62,005   (2,656)  (3,615) $238,355  $240,305  $(1,950) $(8,615)        Percentage of Parts and Consumables Bookings 74%  72%             Nine Months Ended Increase

 Increase
(Decrease)
Excluding Acquisitions
and FX (b) September 27,
2025 September 28,
2024  Flow Control$286,886  $277,749  $9,137  $(244)Industrial Processing 282,902   275,910   6,992   6,197 Material Handling 194,160   186,798   7,362   4,692  $763,948  $740,457  $23,491  $10,645         Percentage of Parts and Consumables Bookings 71%  71%                  Three Months Ended Nine Months EndedAdditional Segment InformationSeptember 27,
2025 September 28,
2024 September 27,
2025 September 28,
2024Gross Margin:       Flow Control 51.9%  51.8%  53.0%  52.9%Industrial Processing 43.6%  44.0%  43.4%  42.3%Material Handling 38.5%  35.0%  38.3%  36.2%Consolidated 45.2%  44.7%  45.7%  44.5%        Operating Income:       Flow Control$22,342  $24,281  $69,537  $69,521 Industrial Processing 18,828   25,969   51,146   70,060 Material Handling 12,533   8,793   30,007   25,522 Corporate (11,087)  (10,056)  (33,111)  (30,788) $42,616  $48,987  $117,579  $134,315         Adjusted Operating Income (a,c):       Flow Control$22,491  $25,671  $70,325  $72,146 Industrial Processing 21,817   26,539   55,141   72,776 Material Handling 12,565   9,019   30,226   28,809 Corporate (11,087)  (10,056)  (33,111)  (30,788) $45,786  $51,173  $122,581  $142,943         Capital Expenditures:       Flow Control$1,213  $1,894  $4,102  $5,729 Industrial Processing 783   1,209   3,703   5,943 Material Handling 1,198   1,074   3,190   3,737 Corporate —   8   3   21  $3,194  $4,185  $10,998  $15,430          Three Months Ended Nine Months EndedCash Flow and Other DataSeptember 27,
2025 September 28,
2024 September 27,
2025 September 28,
2024Operating Cash Flow$47,252  $52,478  $110,569  $103,375 Capital Expenditures (3,194)  (4,185)  (10,998)  (15,430)Free Cash Flow (a)$44,058  $48,293  $99,571  $87,945         Depreciation and Amortization Expense$12,397  $12,775  $36,479  $36,505  Balance Sheet DataSeptember 27,
2025
 December 28,
2024
Assets     Cash, Cash Equivalents, and Restricted Cash$126,913  $95,946 Accounts Receivable, Net 158,781   142,462 Inventories 179,705   146,092 Contract Assets 9,866   18,408 Property, Plant, and Equipment, Net 177,381   170,331 Intangible Assets 270,775   279,494 Goodwill 497,088   479,169 Other Assets 111,725   98,443  $1,532,234  $1,430,345 Liabilities and Stockholders' Equity     Accounts Payable$50,625  $51,062 Debt Obligations 256,020   286,504 Other Borrowings 1,985   2,023 Other Liabilities 262,097   232,628 Total Liabilities 570,727   572,217 Stockholders' Equity 961,507   858,128  $1,532,234  $1,430,345         Three Months Ended Nine Months EndedAdjusted Operating Income and Adjusted EBITDA Reconciliation (a)September 27,
2025 September 28,
2024 September 27,
2025 September 28,
2024Consolidated         Net Income Attributable to Kadant$27,722  $31,586  $77,944  $87,566   Net Income Attributable to Noncontrolling Interests 393   312   1,247   891   Provision for Income Taxes 11,766   11,964   29,416   31,810   Interest Expense, Net 2,716   5,109   8,920   14,000   Other Expense, Net 19   16   52   48   Operating Income 42,616   48,987   117,579   134,315   Acquisition Costs 2,253   469   3,498   2,533   Acquired Profit in Inventory Amortization (d) 465   1,205   500   4,065   Acquired Backlog Amortization (e) 165   687   746   2,181   Other Costs 287   —   287   —   Indemnification Asset Provision (f) —   (175)  (29)  (151)  Adjusted Operating Income (a) 45,786   51,173   122,581   142,943   Depreciation and Amortization 12,232   12,088   35,733   34,324   Adjusted EBITDA (a)$58,018  $63,261  $158,314  $177,267   Adjusted EBITDA Margin (a,g) 21.4%  23.3%  20.7%  22.3%          Flow Control         Operating Income$22,342  $24,281  $69,537  $69,521   Acquisition Costs 2   71   41   637   Acquired Profit in Inventory Amortization (d) —   728   35   963   Acquired Backlog Amortization (e) 147   629   610   882   Indemnification Asset (Provision) Reversal (f) —   (38)  102   143   Adjusted Operating Income (a) 22,491   25,671   70,325   72,146   Depreciation and Amortization 3,174   2,981   9,267   7,561   Adjusted EBITDA (a)$25,665  $28,652  $79,592  $79,707   Adjusted EBITDA Margin (a,g) 27.1%  29.4%  28.1%  28.8%          Industrial Processing         Operating Income$18,828  $25,969  $51,146  $70,060   Acquisition Costs 2,237   154   3,449   842   Acquired Profit in Inventory Amortization (d) 465   477   465   2,062   Other Costs 287   —   287   —   Indemnification Asset Provision (f) —   (61)  (206)  (188)  Adjusted Operating Income (a) 21,817   26,539   55,141   72,776   Depreciation and Amortization 5,221   5,204   14,850   15,458   Adjusted EBITDA (a)$27,038  $31,743  $69,991  $88,234   Adjusted EBITDA Margin (a,g) 25.4%  28.7%  24.0%  26.6%          Material Handling         Operating Income$12,533  $8,793  $30,007  $25,522   Acquisition Costs 14   244   8   1,054   Acquired Profit in Inventory Amortization (d) —   —   —   1,040   Acquired Backlog Amortization (e) 18   58   136   1,299   Indemnification Asset (Provision) Reversal (f) —   (76)  75   (106)  Adjusted Operating Income (a) 12,565   9,019   30,226   28,809   Depreciation and Amortization 3,824   3,891   11,580   11,269   Adjusted EBITDA (a)$16,389  $12,910  $41,806  $40,078   Adjusted EBITDA Margin (a,g) 23.3%  20.4%  21.9%  21.4%        Corporate         Operating Loss$(11,087) $(10,056) $(33,111) $(30,788)  Depreciation and Amortization 13   12   36   36   EBITDA (a)$(11,074) $(10,044) $(33,075) $(30,752)          (a) Represents a non-GAAP financial measure.          (b) Represents the increase (decrease) resulting from the exclusion of acquisitions and from the conversion of current period amounts reported in local currencies into U.S. dollars at the exchange rate of the prior period compared to the U.S. dollar amount reported in the prior period.          (c) See reconciliation to the most directly comparable GAAP financial measure under “Adjusted Operating Income and Adjusted EBITDA Reconciliation.”          (d) Represents amortization expense within cost of revenue associated with acquired profit in inventory.          (e) Represents intangible amortization expense associated with acquired backlog.          (f) Represents the provision for or reversal of indemnification assets related to the establishment or release of tax reserves associated with uncertain tax positions.          (g) Calculated as adjusted EBITDA divided by revenue in each period.           About Kadant
Kadant Inc. is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing®. The Company’s products and services play an integral role in enhancing efficiency, optimizing energy utilization, and maximizing productivity in process industries. Kadant is based in Westford, Massachusetts, with approximately 3,900 employees in 22 countries worldwide. For more information, visit kadant.com.

Safe Harbor Statement
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our future financial and operating performance, demand for our products, and economic and industry outlook. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading “Risk Factors” in Kadant’s Annual Report on Form 10-K for the fiscal year ended December 28, 2024 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; our acquisition strategy; levels of residential construction activity; reductions by our wood processing customers of their capital spending or production of oriented strand board; changes to the global timber supply; development and use of digital media; cyclical economic conditions affecting the global mining industry; demand for coal, including economic and environmental risks associated with coal; failure of our information systems or breaches of data security and cybersecurity incidents; implementation of our internal growth strategy; competition; our ability to successfully manage our manufacturing operations; supply chain constraints, inflationary pressure, price increases or shortages in raw materials; loss of key personnel and effective succession planning; future restructurings; protection of intellectual property; changes to tax laws and regulations; climate change; adequacy of our insurance coverage; global operations; policies of the Chinese government; the variability and uncertainties in sales of capital equipment in China; currency fluctuations; changes to government regulations and policies around the world; compliance with government regulations and policies and compliance with laws; environmental laws and regulations; environmental, health and safety laws and regulations impacting the mining industry; our debt obligations; restrictions in our credit agreement and note purchase agreement; soundness of financial institutions; fluctuations in our share price; and anti-takeover provisions.

Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
[email protected]

Media Contact Information:
Wes Martz, 978-776-2000
[email protected]

LEXINGTON, Ky.--(BUSINESS WIRE)--Viamedia's antitrust case against Comcast will go to trial October 5, 2026, reinforcing the fight for open competition in TV and digital ad markets.

LEXINGTON, Mass., Oct. 28, 2025 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (the “Company”), an innovative life sciences technology company providing mission-critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products, will release third quarter 2025 financial results prior to the market open on Friday, November 7, 2025.

In conjunction with the release, the Company’s management team will host a webcast conference call at 8:30 a.m. ET on Friday, November 7, 2025. The live audio webcast will be accessible on the Company’s website and can be accessed with this link. The webcast will be archived and available for replay after the event.

About Rapid Micro Biosystems

Rapid Micro Biosystems is an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products such as biologics, vaccines, cell and gene therapies, and sterile injectables. The Company’s flagship Growth Direct system automates and modernizes the antiquated, manual microbial quality control (“MQC”) testing workflows used in the largest and most complex pharmaceutical manufacturing operations across the globe. The Growth Direct system brings the quality control lab to the manufacturing floor, unlocking the power of MQC automation to deliver the faster results, greater accuracy, increased operational efficiency, better compliance with data integrity regulations, and quicker decision making that customers rely on to ensure safe and consistent supply of important healthcare products. The Company is headquartered Lexington, Massachusetts and has U.S. manufacturing in Lowell, Massachusetts, with global locations in Switzerland, Germany, and the Netherlands. For more information, please visit www.rapidmicrobio.com or follow the Company on X (formerly known as Twitter) at @rapidmicrobio or on LinkedIn. 

, /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) ("Kulicke & Soffa", "K&S" or the "Company"), a global leader in semiconductor assembly technology, today announced that a conference call is scheduled to discuss the Company's fourth fiscal quarter 2025 financial results and its business outlook, on Thursday, November 20, 2025, at 8:00 am ET.

The Company will issue its fourth fiscal quarter 2025 financial results Wednesday, November 19, 2025, at approximately 4:00 pm ET.

To access the conference call, interested parties may call +1-877-407-8037 or internationally +1-201-689-8037. A live webcast and replay of the webcast will also be available at investor.kns.com.

A replay will be available from approximately one hour after the completion of the call through December 4, 2025, by calling toll-free +1-877-660-6853 or internationally +1-201-612-7415 and using the replay ID number of 13750876.

About Kulicke & Soffa

Kulicke and Soffa is a global leader in semiconductor assembly technology, advancing device performance across automotive, compute, industrial, memory and communications markets. Founded on innovation in 1951, K&S is uniquely positioned to overcome increasingly dynamic process challenges – creating and delivering long-term value by aligning technology with opportunity.

Contacts

Kulicke & Soffa
Marilyn Sim
Public Relations
P: +65-6880-9309
[email protected]

Kulicke & Soffa
Joseph Elgindy
Investor Relations
P: +1-215-784-7500
[email protected]

SOURCE Kulicke & Soffa Industries, Inc.

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Lester Wong to Serve as Interim CEO; Board of Directors Initiates Process to Identify Permanent Successor; Dr. Fusen Chen to Retire for Health Reasons

, /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) ("Kulicke & Soffa", "K&S", "we" or the "Company") today announced that Dr. Fusen Chen has agreed to retire from his position as President and CEO, and as a member of the Board, effective December 1, 2025, due to health reasons. Following the effective date, Dr. Chen will serve as an advisor to the Board for a 12-month period. The Board has initiated a process to identify the Company's next permanent CEO. The search will include internal and external candidates.

Effective immediately, the Board of Directors has appointed Lester Wong, the Company's current Executive Vice President, Finance and IT and Chief Financial Officer, as the Company's Interim CEO. As Dr. Chen transitions from his role and in leading up to his retirement, he will support Lester Wong in ensuring a smooth transition and handover. Mr. Wong will also continue in his existing roles during this transitional period.

"We are profoundly grateful to Fusen for his visionary leadership, unwavering commitment, and remarkable achievements during his nine-year tenure as CEO and President," said Peter Kong, Chairman of the K&S Board. "Fusen's dedication to innovation and operational excellence has enabled K&S to grow and create value for shareholders. His leadership has solidified the Company's core served market positions while accelerating its position at the forefront of advanced packaging and dispense technologies. His legacy will continue to inspire our organization for years to come. On behalf of the Board and the entire K&S family, I extend our heartfelt thanks and wish Fusen good health and success in his next chapter."

"It has been a great honor to serve as Kulicke & Soffa's CEO," said Dr. Fusen Chen, President and CEO of K&S. "I thank our incredible team for their support. Together, we have navigated unprecedented global challenges with resilience and agility while building on the 75-year track record of innovation to unlock new opportunities across our markets, drive significant growth and create value for our shareholders. I am proud to have been a part of this progress and have the utmost confidence in K&S' future."

Mr. Kong added, "The Board has commenced a comprehensive search to identify the right leader to continue driving K&S' strong momentum, expand our market share, further enhance our diverse portfolio and help our customers address critical challenges in the industry. As Executive Vice President and CFO, Lester has played an instrumental role in the Company's success and we are confident that he will continue to drive K&S' growth and innovation during this interim period."

Mr. Kong concluded, "Together with the Board, I will assist Lester and the Executive Leadership Team in ensuring the continuity of leadership, stability and strategic focus of the Company. We believe this collaborative approach is critical as the Company is ushering through a period of exciting growth, driven by continued core-market improvement and capacity expansion, coupled with strong demand in sectors like AI, electric vehicles, and power semiconductors. We are investing in next-generation solutions such as ATPremier MEM PlusTM and expanding our capabilities in fluxless thermocompression bonding and chiplet integration. With a solid financial foundation and a clear strategic roadmap, we are well-positioned to support our customers' evolving needs and deliver long-term value."

"I look forward to assuming the interim CEO position and working closely with Peter, the Board and the entire Executive Leadership Team as the Board conducts its search for a permanent CEO to lead K&S into its next phase," said Lester Wong, Executive Vice President, Finance and IT and CFO of K&S. "I am confident in the clear strategy we've established, which positions us to continue driving our leadership across semiconductor assembly technology and unlock meaningful value for our shareholders."

K&S Reaffirms its Fourth Quarter Fiscal 2025 Outlook

In connection with today's announcement, the Company reaffirmed its fourth quarter fiscal 2025 outlook. The Company intends to announce its fourth quarter fiscal 2025 financial results on November 19, 2025.

About Lester Wong

Mr. Wong, 59, has been the Company's Chief Financial Officer since December 2018, and was promoted to Executive Vice President, from Senior Vice President, on January 1, 2022. Prior to that, Mr. Wong served as General Counsel & Senior Vice President, Legal Affairs beginning in September 2011. Mr. Wong has over 20 years of legal leadership at U.S. listed and Asian-based companies, with a wealth of experience in global corporate law. Previously, Mr. Wong served as General Counsel and held other senior legal positions at publicly traded companies including Gigamedia Limited and CDC Corporation.

About Kulicke & Soffa

Kulicke & Soffa is a global leader in semiconductor assembly technology, advancing device performance across automotive, compute, industrial, memory and communications markets. Founded on innovation in 1951, K&S is uniquely positioned to overcome increasingly dynamic process challenges – creating and delivering long-term value by aligning technology with opportunity.

Contacts

Kulicke & Soffa
Marilyn Sim 
Public Relations 
+65-6880 9309 
[email protected]       

Kulicke & Soffa
Joseph Elgindy
Finance
+1-215-784-7500 
[email protected]

SOURCE Kulicke & Soffa Industries, Inc.

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NEW YORK, Oct. 28, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Fly-E Group, Inc. (NASDAQ: FLYE) between July 15, 2025 and August 14, 2025, both dates inclusive (the “Class Period”), of the important November 10, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Fly-E securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Fly-E class action, go to https://rosenlegal.com/submit-form/?case_id=44575 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 10, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. 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 achieved the largest ever securities class action settlement against a Chinese Company at the time. 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 hundreds of millions 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.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the safety of Fly-E’s lithium battery which in turn took a material toll on its E-vehicle sales revenue, despite making lofty long-term projections, Fly-E’s forecasting processes fell short as sales continued to decline and operating expenses increased, ultimately, derailing Fly-E’s revenue projections. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Fly-E class action, go to https://rosenlegal.com/submit-form/?case_id=44575 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

, /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Closed-End Opportunity Fund, Inc. (NYSE: FOF) (the "Fund") with information regarding the sources of the distribution to be paid on October 31, 2025 and cumulative distributions paid fiscal year-to-date.

In December 2021, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares.

The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.

DISTRIBUTION ESTIMATES

October 2025

YEAR-TO-DATE (YTD)

October 31, 2025*

Source

Per Share
Amount

% of Current
Distribution

Per Share
Amount

% of 2025
Distributions

Net Investment Income

$0.0320

36.78 %

$0.2734

31.43 %

Net Realized Short-Term Capital Gains

$0.0177

20.34 %

$0.0180

2.07 %

Net Realized Long-Term Capital Gains

$0.0351

40.34 %

$0.4876

56.05 %

Return of Capital (or other Capital Source)     

$0.0022

2.54 %

$0.0910

10.45 %

Total Current Distribution

$0.0870

100.00 %

$0.8700

100.00 %

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.

* THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES

The Fund's Year-to-date Cumulative Total Return for fiscal year 2025 (January 1, 2025 through September 30, 2025) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2025. In addition, the Fund's Average Annual Total Return for the five-year period ending September 30, 2025 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2025. The performance and distribution rate information disclosed in the table is based on the Fund's net asset value per share (NAV). The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market.

Fund Performance and Distribution Rate Information :

Year-to-date January 1, 2025 to September 30, 2025          

Year-to-date Cumulative Total Return1

15.82 %

Cumulative Distribution Rate2

6.69 %

Five-year period ending September 30, 2025

Average Annual Total Return3

12.09 %

Current Annualized Distribution Rate4

8.02 %

1.

Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.

2.

Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2025 through October 31, 2025) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of September 30, 2025.

3.

Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending September 30, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.

4.

The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of September 30, 2025.

Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.

Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Website: https://www.cohenandsteers.com
Symbol: (NYSE: CNS)

SOURCE Cohen & Steers, Inc.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

The “Trump Insider whale” has reportedly opened a $430 million long position in Bitcoin and Ethereum. This comes ahead of the Fed rate cut decision to be revealed at the conclusion of the FOMC meeting.

Whale Reloads $430M Long Ahead of Fed Decision
Data showed that the Trump Insider whale has placed a $430 million leveraged long on Bitcoin and Ethereum. The whale is also known for achieving an extraordinary 12-for-12 winning streak on prior trades. 

🚨 BREAKING

TRUMP INSIDER JUST OPENED A NEW $430 MILLION LONG ON $BTC AND $ETH

HE’S 12/12 ON TRADES (100% WIN RATE) AND ALREADY UP $35 MILLION IN JUST A FEW DAYS.

HE DEFINITELY KNOWS SOMETHING 👀 pic.twitter.com/G7vEKhR1ha

— 0xNobler (@CryptoNobler) October 28, 2025

This comes after the entity began to close its Bitcoin shorts as the crypto market stabilized.  This trader became popular after it correctly shorted the market before the so-called “Trump tariff crash.” As last reported, the trader pocketed $2.38 million after closing $86.6 million in short positions earlier this month.

However, some experts suggest it could be another insider whale who opened a $255 million long position in BTC and ETH earlier this month, just after Donald Trump confirmed a meeting with Chinese President Xi Jinping during the APEC summit.

Meanwhile, analysts believe this latest move could be another strategic play ahead of tomorrow’s Fed Rate Cut announcement. A Fed rate cut decision could inject fresh volatility into both traditional and digital asset markets.

Fed Rate Cut Looms Over Markets
The Federal Open Market Committee (FOMC) meeting, which began today (October 28) and concludes tomorrow, is expected to produce a key policy update that could affect the crypto market.

Investors are on edge as Federal Reserve Chair Jerome Powell prepares to deliver his remarks at 2:30 PM ET on Wednesday. He is expected to share the central bank’s stance on employment, inflation, and the state of the economy in 2026.

The October session is particularly significant following the Fed’s first rate cut of the year. They implemented a 25-basis-point reduction that brought the benchmark range down to 4.0%–4.25%. Notably, 98% of Polymarket traders are betting on a possible 25bps cut tomorrow.  

Source: Polymarket
The FOMC, which comprises 12 voting members, meets 8 times a year to determine interest rates and conduct open-market operations. Its decisions have an impact on stock prices, mortgage rates, and cryptocurrency liquidity, among other global markets.

Experts are interpreting the Trump Insider’s aggressive long as a calculated bet that the Fed rate cut cycle will push capital back into risk assets. Lower rates typically weaken the U.S. dollar and encourage flows into alternative investments such as Bitcoin.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

This shift was likely caused by many factors in market appetite, user preferences, and structural changes that significantly impacted flows.

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

After a decade of fund issuers trying to offer US bitcoin ETFs, those launches in January 2024 were a huge deal. Ether ETFs then hit US markets six months later.

Today marks yet another date to remember, with the Bitwise Solana Staking ETF (BSOL) going live on the New York Stock Exchange.

“This is one of the big assets; it’s on the Mount Rushmore of crypto,” Bitwise CIO Matt Hougan told me. “We don’t have that many of these launches, so this is a really exciting moment.”

Solana’s market cap is roughly $110 billion — behind only BTC ($2.3 trillion), ETH ($495 billion), tether ($183 billion), XRP ($158 billion) and BNB ($156 billion).

Before we get into the demand for a US solana ETF, let’s start with launch timing — as Bitwise got to market ahead of competitors. Hougan admitted to me that a legal mind — like that of Multicoin Capital general counsel Greg Xethalis — could perhaps more eloquently explain what went down:

Loading Tweet..

The Bitwise S-1 filed on Oct. 8 included the necessary language that Bloomberg Intelligence analyst James Seyffart pointed out (below). That gave BSOL a path to launch 20 days later. 

Loading Tweet..

“As an issuer, you can’t let the government being dysfunctional halt your business plans; we don’t know when the shutdown will be over,” Hougan said. “These filings were complete, they were ready and so under the rules set up in the [Investment Company Act of 1940] they sort of marched to market if you don’t have that delaying amendment.”

Bitwise intends to stake 100% of the Fund’s SOL holdings — aiming to maximize exposure to average staking rewards around 7%. BSOL looks to meet redemptions on a T+2 basis given a typical “cooldown” period — to unstake SOL — of 48 hours or less. During extraordinary circumstances, Page 90 of the fund’s S-1 describes what would happen:

With that out of the way, what sort of demand will we even see for SOL ETFs?

Hougan himself said at DAS London earlier this month that many institutional investors driving this bull market “can’t pronounce solana.” BlackRock’s Matt Kunke told me on stage at the same event that the world’s largest asset manager was holding off on pursuing a SOL ETF given many institutions still need education on BTC and ETH. 

What a bunch of institutions/financial advisers do want to invest in, though, is stablecoin and tokenization growth, Hougan argued. It’s hard to find people bearish about the potential of those segments. Stablecoin market cap is nearing $300 billion, while the tokenized real-world assets (RWAs) market stands at roughly $35 billion.   

While ETH is the dominant player here, Solana has a material and growing share. Solana Policy Institute president Kristin Smith labeled the blockchain as “critical financial infrastructure for the future of the digital economy.”

This chart from RWA.xyz chart shows the value of stablecoins/tokenized RWAs on each chain:

“It’s hard to know over the next five years who will win,” Hougan said. “So I think from the traditional audience, they’re going to want to own both ETH and solana.”

US bitcoin ETFs had unprecedented success out of the gate. ETH products initially saw underwhelming interest — though flows have picked up in recent months, Blockworks Research data shows:

Narrative and timing are critical for ETF launches to be successful. BSOL comes to market when this stablecoin/tokenization theme is more defined. ETH ETFs didn’t have that tailwind back in July 2024.

Thus, Hougan said of solana products: “Adjusted for size, I think it may be the most successful ETP launch of all time.”

Not necessarily anywhere near the $38 billion or so of net inflows bitcoin ETFs saw in their first year, he clarified — calling that an “absurd comparison.” But flows that represent a larger percentage of the much smaller SOL market cap. 

While we focused on SOL today, it’s worth noting that Canary Capital’s hedera (HBAR) and litecoin (LTC) ETFs also went live today on the Nasdaq.

The government will likely need to reopen before we get the full flood of crypto ETF launches the market ultimately expects. When that happens is anyone’s guess.

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TagsBitwiseETFsForward Guidance newsletterMatt HouganSolana

Key NotesThe payment giant plans to enter the $4.30 trillion monthly stablecoin market dominated by Tether and Circle with its 2026 launch.A Digital Asset Network will enable crypto-to-cash conversions at Western Union retail locations worldwide for wallet users.CEO McGranahan credits favorable US regulations like the GENIUS Act as catalysts for the strategy amid declining revenues.
Western Union announced on Oct. 28 plans to launch a US Dollar Payment Token stablecoin built on the Solana

SOL
$197.4

24h volatility:
1.5%

Market cap:
$108.49 B

Vol. 24h:
$6.89 B

blockchain. The company expects USDPT to become available in the first half of 2026.

The stablecoin will be issued by Anchorage Digital Bank, a federally regulated institution, according to a press release published by the company. Western Union said users will access USDPT through partner exchanges. The company stated the initiative combines its global digital footprint with Solana’s blockchain technology and Anchorage Digital’s issuance platform and custody solutions.

Digital Asset Network for Global Cash Access
Western Union also unveiled plans for a Digital Asset Network designed to provide cash off-ramps for digital assets. The network will partner with wallets and wallet providers to enable customers to convert crypto holdings into fiat currency through Western Union’s retail locations worldwide.

Stablecoin metrics | Source: RWA.xyz

The stablecoin sector recorded $4.30 trillion in monthly transfer volume as of Oct. 28, representing a 35.68% increase over the prior 30 days, based on data from RWA.xyz. Monthly active addresses grew 20.89% to 32.41 million during the same period.

Tether Holdings maintains market dominance with $179 billion in market capitalization, controlling 60.47% of the sector. Circle holds the second position with $73 billion, accounting for 24.68% of the market.

CEO Cites Regulatory Shift as Catalyst
Western Union President and CEO Devin McGranahan said the initiative allows the company to own the economics associated with stablecoins. The executive pointed to recent US regulatory developments, including the GENIUS Act, as factors supporting Western Union’s stablecoin strategy. The company reported a 6% revenue decline in its first quarter, prompting efforts to revive growth through digital asset integration.

The announcement coincides with the first US spot Solana ETP launch on the NYSE, as Bitwise’s $BSOL began trading on Oct. 28.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News

As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.

Zoran Spirkovski on X