Market Signal Briefing

Key Takeaways Northern Trust posted Q3 EPS of $2.29, topping estimates and up from $2.22 a year earlier.Higher net interest income and growth in AUC and AUM supported quarterly financials.Expenses climbed 4.6% while other non-interest income declined nearly 19% year over year.
Northern Trust Corporation’s (NTRS - Free Report) third-quarter 2025 earnings per share (EPS) of $2.29 beat the Zacks Consensus Estimate of $2.26. In the prior-year quarter, the company reported an EPS of $2.22.

NTRS results benefited from a rise in net interest income (NII). Also, an increase in total assets under custody (AUC) and assets under management (AUM) balances supported the financials. However, elevated expenses and reduced other fee income were concerning.

Net income (GAAP basis) was $457.6 million, down 1.6% from the prior-year quarter.

NTRS’ Revenues & Expenses RiseQuarterly total revenues (GAAP basis) of $2.02 billion increased 2.8% year over year. However, the top line missed the Zacks Consensus Estimate by nearly 1%.

NII on a fully taxable equivalent basis was $596.3 million in the quarter under review, up 4.7% year over year. The net interest margin was 1.70%, up 2 basis points from the prior-year quarter.

Trust, investment and other servicing fees totaled $1.26 billion, up 5.7% year over year.

Other non-interest income decreased 19.3% to $169.1 million from the year-ago quarter. The decline was driven by a decrease in other operating income.

Non-interest expenses rose 4.7% year over year to $1.42 billion in the reported quarter. The rise primarily stemmed from an elevation in all components except for outside services and other operating expenses.

Northern Trust’s AUC & AUM RiseAs of Sept. 30, 2025, Northern Trust’s total AUC increased 4.7% year over year to $14.4 trillion. Also, total AUM rose 9.3% year over year to $1.8 trillion.

NTRS’ Credit Quality: Mixed BagTotal allowance for credit losses was $206.7 million, down 6% year over year.

Total non-accrual assets increased to $78.8 million as of Sept. 30, 2025, from $73.1 million in the year-ago period. NTRS reported provision benefits of $17 million in the third quarter compared with a provision for credit losses of $8 million in the year-ago quarter.

Northern Trust’s Capital & Profitability Ratios DeclineUnder the Standardized Approach, as of Sept. 30, 2025, the Common Equity Tier 1 capital ratio was 12.4%, down from 12.6% in the prior-year quarter. The total capital ratio was 15.1%, down from 15.6% in the year-ago quarter. The Tier 1 leverage ratio was 8.0%, down from 8.1% in the prior-year quarter.

The return on average common equity was 14.8% compared with the year-earlier quarter’s 15.4%.

NTRS’ Capital Distribution ActivitiesIn the reported quarter, Northern Trust returned $431.3 million to shareholders through share repurchases and dividends.

Our View on Northern TrustA rise in NII drove the company’s third-quarter performance. Its increasing AUC and AUM balances are likely to support financials. However, a decline in fee income and a rise in expenses will likely impede growth.

Currently, Northern Trust carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other BanksComerica Incorporated (CMA - Free Report) has reported third-quarter 2025 earnings per share of $1.35, beating the Zacks Consensus Estimate of $1.28. In the prior-year quarter, the company reported an EPS of $1.37.

CMA’s results have benefited from a rise in NII and deposit balance.  Yet, lower loan balances, a decline in non-interest income, a rise in expenses, and weak asset quality were concerning.

Fifth Third Bancorp (FITB - Free Report) reported third-quarter 2025 adjusted earnings per share of 93 cents, surpassing the Zacks Consensus Estimate of 87 cents. In the prior-year quarter, the company posted an EPS of 85 cents.

FITB’s results have benefited from a rise in net interest income, fee income and loan balances. However, higher expenses and weak asset quality were headwinds.

-

Shareholders should contact the firm immediately as there may be limited time to enforce your rights.

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) breached their fiduciary duties to shareholders.

If you currently own Acadia stock and acquired shares on or before September 9, 2019, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected]. Our firm would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

Why Your Participation Matters:

Shareholder involvement can help improve a company’s policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

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

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Meta Platforms, Inc. (NASDAQ:META) confirmed on Wednesday that about 600 roles will be eliminated from its artificial intelligence division as part of an effort to streamline operations and become more agile.

META stock is moving. See the real-time price action here.
Job CutsThe decision was disclosed in an internal memo from Chief AI Officer Alexandr Wang, who joined the company in June following Meta's $14.3 billion investment in Scale AI.

Read Next: Latest Beyond Meat Short-Seller? Martin Shkreli, Of Course

The layoffs will affect staff in AI infrastructure, Fundamental Research and product-related teams, according to Axios.

Some employees were informed Wednesday that their official end date is Nov. 21. Until then, they will remain on a nonworking notice period without system access, but can apply for new internal positions.

Meta will provide 16 weeks of severance pay plus two additional weeks for each full year of service, minus the notice period.

AI StrategyThe company has been restructuring its AI strategy to compete with OpenAI and Google, investing heavily in computing resources and hiring.

CEO Mark Zuckerberg has expressed dissatisfaction with Meta's AI momentum, particularly after the lukewarm reception of the Llama 4 models launched in April.

Following the Scale AI deal, he introduced Meta Superintelligence Labs, led by Wang and former GitHub CEO Nat Friedman.

In July's earnings update, Meta projected 2025 expenses between $114 billion and $118 billion, raising its earlier forecast and noting that AI spending will drive even higher growth in 2026.

The company is set to report its third-quarter results next week.

Read Next: 

Elon Musk Says Head Of NASA Has ‘2 Digit IQ’ — SpaceX’s Moon Deal Hangs In Balance
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Q3: 2025-10-22 Earnings SummaryEPS of $0.95 beats by $0.07

 |

Revenue of

$275.68M

(7.26% Y/Y)

misses by $4.50M

BankUnited, Inc. (NYSE:BKU) Q3 2025 Earnings Call October 22, 2025 9:00 AM EDT

Company Participants

Jacqueline Bravo - Corporate Secretary
Raj Singh - Chairman, President & CEO
Thomas Cornish - Chief Operating Officer
Leslie Lunak - Chief Financial Officer

Conference Call Participants

Benjamin Gerlinger - Citigroup Inc., Research Division
David Rochester - Cantor Fitzgerald & Co., Research Division
Wood Lay - Keefe, Bruyette, & Woods, Inc., Research Division
Jared David Shaw - Barclays Bank PLC, Research Division
Timur Braziler - Wells Fargo Securities, LLC, Research Division
Jon Arfstrom - RBC Capital Markets, Research Division
David Bishop - Hovde Group, LLC, Research Division
Stephen Scouten - Piper Sandler & Co., Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to the BankUnited Third Quarter 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Jackie Bravo, Corporate Secretary. Ma'am, please go ahead.

Jacqueline Bravo
Corporate Secretary

Thank you, Michelle. Good morning, and thank you, everyone, for joining us today for BankUnited, Inc. Third Quarter 2025 Results Conference Call. On the call this morning are Raj Singh, Chairman, President and CEO; Leslie Lunak, Chief Financial Officer; Jim Mackey, Incoming Chief Financial Officer; and Tom Cornish, Chief Operating Officer.

Before we start, I'd like to remind everyone that this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflects the company's current views with respect to, among other things, future events and financial performance. Any forward-looking statements made during this call are based on the historical performance of the company and its subsidiaries or on the company's current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the company as the future plans, estimates or expectations contemplated

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Brossard, Québec - TheNewswire - October 22, 2025 – Windfall Geotek (CSE: WIN) (the “Company”), a leader in the use of Artificial Intelligence (AI) since 2005 in the mining sector for Digital Exploration, announces that it will conduct a non-brokered private placement (the “Offering”) of up to 25,000,000 units of the Company (each, a “Unit”) at a price of $0.02 per Unit, for maximum gross proceeds of up to $500,000. Each Unit is comprised of one (1) common share of the Company and one common share purchase warrant (a “Warrant”), each Warrant entitling the holder to purchase a common share of the Company (a “Warrant Share”) at an exercise price of $0.05 per Warrant Share for a period of two (2) years following the closing of the Offering.

The net proceeds raised from the Offering will be used for working capital and bona fide debt settlement, excluding accrued salaries to officers or directors of the Company and payment for investor relations activities.

In connection with closing of the Offering, the Company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to the Offering.  Completion of the Offering remains subject to regulatory approval.

About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005

Windfall Geotek is a services company using Artificial Intelligence (AI). Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. Windfall has been instrumental in integrating Artificial Intelligence into mineral exploration. Windfall Geotek has evolved into a pioneer in AI-driven exploration, leveraging innovative data analysis to identify high-potential mineral targets. Windfall is focused on validating AI-generated targets, enhancing shareholder value, and expanding Windfall’s applications into areas such as landmine detection.

For further information, please contact:

Michel Fontaine

Founder, President & CEO

Telephone: 514-994-5843

Email: [email protected]

Website: www.windfallgeotek.com

Additional information about the Company is available under Windfall Geotek’s profile on SEDAR at www.sedar.com. Neither the TSX Venture Exchange nor does its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS This news release may contain forward‐looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release

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Shareholders should contact the firm immediately as there may be limited time to enforce your rights.

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Virgin Galactic Holdings, Inc. (NYSE: SPCE) breached their fiduciary duties to shareholders.

If you currently own Virgin Galactic stock and acquired shares on or before July 10, 2019, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected]. Our firm would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

Why Your Participation Matters:

Shareholder involvement can help improve a company’s policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

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

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CINCINNATI--(BUSINESS WIRE)--Fifth Third Bancorp (Nasdaq: FITB) will participate in the 2025 BancAnalysts Association of Boston Conference on November 7, 2025, at approximately 9:00 AM ET. Jamie Leonard, executive vice president and chief operating officer, and Bryan Preston, executive vice president and chief financial officer, will represent the Company.

Audio webcast and any presentation slides may be viewed live and for approximately 14 days after the conference through the Investor Relations section of www.53.com. Additionally, any slides used in the presentation will be made available in a printer-friendly format on the Company’s website.

About Fifth Third Bancorp

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com.

Category: Conferences

Q3: 2025-10-22 Earnings SummaryEPS of $6.98 beats by $0.14

 |

Revenue of

$1.43B

(-4.76% Y/Y)

misses by $56.64M

Lennox International Inc. (NYSE:LII) Q3 2025 Earnings Call October 22, 2025 9:30 AM EDT

Company Participants

Chelsey Pulcheon
Alok Maskara - CEO, President & Director
Michael Quenzer - Executive VP & CFO

Conference Call Participants

Ryan Merkel - William Blair & Company L.L.C., Research Division
Damian Karas - UBS Investment Bank, Research Division
Nigel Coe - Wolfe Research, LLC
Joseph O'Dea - Wells Fargo Securities, LLC, Research Division
Julian Mitchell - Barclays Bank PLC, Research Division
Thomas Moll - Stephens Inc., Research Division
Christopher Snyder - Morgan Stanley, Research Division
Noah Kaye - Oppenheimer & Co. Inc., Research Division
Jeffrey Sprague - Vertical Research Partners, LLC
Joseph Ritchie - Goldman Sachs Group, Inc., Research Division
Jeffrey Hammond - KeyBanc Capital Markets Inc., Research Division
Deane Dray - RBC Capital Markets, Research Division
C. Stephen Tusa - JPMorgan Chase & Co, Research Division
Brett Linzey - Mizuho Securities USA LLC, Research Division

Presentation

Operator

Welcome to the Lennox Third Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. I would now like to turn the conference over to Chelsey Pulcheon from Lennox Investor Relations. Chelsey, please go ahead.

Chelsey Pulcheon

Thank you, Katie. Good morning, everyone. Thank you for joining us as we share our 2025 third quarter results. Joining me today is CEO, Alok Maskara; and CFO, Michael Quenzer. Each will share their prepared remarks before we move to the Q&A session.

Turning to Slide 2. A reminder that during today's call, we will be making certain forward-looking statements, which are subject to numerous risks and uncertainties as outlined on this page. We may also refer to certain non-GAAP financial measures that management considers relevant indicators of underlying business performance. Please refer to our SEC filings available on our Investor Relations website for additional details, including a reconciliation of GAAP to non-GAAP measures. The earnings release, today's presentation and the webcast archive link for today's

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BETHLEHEM, Pa., Oct. 22, 2025 (GLOBE NEWSWIRE) -- Embassy Bank for the Lehigh Valley has been named “Best Bank” in The Morning Call’s 2025 Readers’ Choice Awards, marking its 11th win and reaffirming its commitment to exceptional service and community values.

“We are deeply honored to receive this recognition from our community,” said David M. Lobach, Jr., Chairman, President and CEO of Embassy Bank. “Winning this award for the 11th time is a testament to the trust our customers place in us and the dedication of our entire team. We’re proud to be a true Lehigh Valley bank — built here, based here, and focused on serving the people who live here.”

Additional Honors in 2025

Earlier this year, Embassy was named Best Bank & Best Mortgage Company in the Who’s Who in Business survey by Lehigh Valley Style magazine — its fourth consecutive year earning both titles. Additionally, Bauer Financial awarded Embassy a 5-star rating, recognizing its superior financial strength and stability.

Continued Market Share Growth

According to the FDIC’s Summary of Deposits as of June 30, 2025, Embassy Bank continues to grow its presence in the Lehigh Valley. The bank now ranks fourth in total deposit market share across Lehigh and Northampton Counties combined — and notably, it was the only bank among the top four to increase its market share during the reporting period. While other institutions saw declines, Embassy’s growth underscores its strong customer relationships and expanding footprint in the region.

About Embassy Bank

Embassy Bank For the Lehigh Valley, a subsidiary of Embassy Bancorp, Inc., is a full-service community bank with over $1.7 billion in assets. Since 2001, it has proudly served individuals and businesses throughout Pennsylvania’s Lehigh Valley through ten branch locations and a comprehensive suite of digital banking services.

Contact:
David M. Lobach, Jr.
Chairman, President and CEO
(610) 882-8800

In conjunction with Nasdaq, TMX VettaFi’s Head of Research Todd Rosenbluth co-hosted an Asset Allocation Summit webinar session that targeted a growing fixed income space that continues to evolve. With fixed income ETFs crossing $325 billion in inflows in mid-October, investor interest will only increase, with options aplenty. Justin Danfield, a fixed income ETF specialist with Invesco, was one of the guests providing ETF options that best suit the current market conditions.

Investors can agree that market uncertainty isn’t just associated with equities. Tariffs and geopolitical tensions are also permeating the fixed income market, but the majority of that uncertainty centers around interest rates. Using the CME Group’s FedWatch as a gauge, over 90% are forecasting the Fed will institute two more rate cuts before 2025 turns into 2026. The panel of speakers that included Danfield was asked to posit on how many rate cuts to expect.

“We see two cuts by the end of the year,” Danfield forecasted. He added that they think “inflation [tariff-induced] could pick up.”

“I think all eyes are on the labor market. And if that sees anymore weakening, I think we could continue to see cuts,” he added.

Venturing Out on the Yield Curve & Munis
With the anticipation of interest rates and subsequently yields falling, investors may be wondering how to sustain the income they’ve been accustomed to the last few years. One of the ways Danfield noted is to venture further out on the yield curve, starting with intermediate bonds. They can strike the balance between increasing income as well as mitigating rate risk.

“So investors can really look beyond the rate cuts, whether it’s going to be one or two this year, and start to allocate to intermediate credit,” he noted.

Municipal bonds have been one of the corners of the bond market getting more interest with their strong credit fundamentals and attractive yields. Of course, the federal tax-free income is an obvious benefit, but the ETF marketplace is full of fresh opportunities to slice and dice muni exposure.

“We’ve seen interest on indexed products in the long end for those wanting to capture those high yields,” Danfield said. He added that active fixed income ETFs in muni debt is also garnering increased interest. “You’re starting to see investors open up to a variety of muni strategies.”

Invesco offers its BulletShares suite that includes municipal bond exposure. Danfield mentioned two: the Invesco BulletShares 2030 Municipal Bond ETF (BSMU) and the Invesco BulletShares 2029 Municipal Bond ETF (BSMT). The product suite is unique in that it gives the principal back to investors once maturity dates are reached. That makes them ideal for building bond ladders.

“Individual bondlike experience in the ease of an ETF wrapper,” Danfield said.

Flexible Options in Today’s Market
The opportunities in fixed income ETFs are vast, creating opportunities for providers to create income-producing funds that can suit today’s uncertain environment. As mentioned, interest in active funds is picking up. Invesco has the actively managed Invesco Variable Rate Investment Grade ETF (VRIG) that invests in a variety of debt to extract diversified yield opportunities in various credit markets.

“It’s a collection of high-quality, structured credit,” Danfield said of VRIG, adding that investors are “getting a multisector approach. They’re getting access to cross-structured credit from mortgages, commercial mortgage-backed securities (CMBS), and asset-backed securities (ABS) while keeping that high quality.”

Another fund investors may want to consider is the Invesco Equal Weight 0-30 Year Treasury ETF (GOVI), which provides more nuanced exposure to Treasuries using a laddering approach without the use of individual bonds. It tracks the ICE 1-30 Year Laddered Maturity US Treasury Index (Index), which includes up to 30 U.S. Treasuries representing the annual February maturity ladder across the yield curve.

These options are just a smidgen of what the ETF marketplace has to offer as the space continues to evolve and innovate. But Danfield noted that the way fixed income should slot into a portfolio really boils down to the basics.

“There’s a lot of shiny tools out there,” he explained. In the end, however, “it really is a ballast for a portfolio.”

Click here to watch the full webinar and earn continuing education (CE) credits in the process.

For more news, information, and analysis, visit the Innovative ETFs Content Hub.

Earn free CE credits and discover new strategies

Image Credits:Amazon

11:33 AM PDT · October 22, 2025

Amazon announced on Wednesday that it’s developing AI-powered smart glasses for its delivery drivers. The idea behind the glasses is to give delivery drivers a hand-free experience that reduces the need to keep looking between their phone, the package they’re delivering, and their surroundings.

The e-commerce giant says the glasses will allow delivery drivers to scan packages, follow turn-by-turn walking directions, and capture proof of delivery, all without using their phones. The glasses use AI-powered sensing capabilities and computer vision alongside cameras to create a display that includes things like hazards and delivery tasks.

Amazon likely hopes that the new glasses will shave time off of each delivery by providing delivery drivers with detailed directions and information about hazards directly in their line of sight.

Image Credits:Amazon
When a driver parks at a delivery location, Amazon says the glasses automatically activate. The glasses help the driver locate the package inside the vehicle and then navigate to the delivery address. The glasses can provide easy-to-follow directions in places like multi-unit apartment complexes and business locations.

The glasses are paired with a controller worn in the delivery vest that contains operational controls, a swappable battery, and a dedicated emergency button.

Amazon notes that the glasses also support prescription lenses and transitional lenses that automatically adjust to light.

Image Credits:Amazon
The retailer is currently trialing the glasses with delivery drivers in North America and plans to refine the technology before a wider rollout.

Techcrunch event

San Francisco
|
October 27-29, 2025

The announcement doesn’t come as a surprise, as Reuters reported last year that Amazon was working on the smart glasses.

In the future, Amazon says the glasses will be able to provide drivers with “real-time defect detection” that could notify them if they accidentally drop off a package at the wrong address. The glasses will also be able to detect pets in yards and automatically adjust to hazards like low light conditions.

Also on Wednesday, Amazon unveiled a new robotic arm called “Blue Jay” that can work alongside warehouse employees to pick items off shelves and sort them. Additionally, the tech giant announced a new AI tool called Eluna that will help provide operational insights at Amazon warehouses.

Aisha is a consumer news reporter at TechCrunch. Prior to joining the publication in 2021, she was a telecom reporter at MobileSyrup. Aisha holds an honours bachelor’s degree from University of Toronto and a master’s degree in journalism from Western University.

You can contact or verify outreach from Aisha by emailing [email protected] or via encrypted message at aisha_malik.01 on Signal.

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ALPEK, S.A.B. de C.V. (OTCPK:ALPKF) Q3 2025 Earnings Call October 22, 2025 11:30 AM EDT

Company Participants

Barbara Amaya - Investor Relations Officer
Jorge P. Young Cerecedo - Chief Executive Officer
José Pons - CFO and Director of Administration & Finance

Conference Call Participants

Thiago Casqueiro - Morgan Stanley, Research Division
Ben Isaacson - Scotiabank Global Banking and Markets, Research Division
Leonardo Marcondes - BofA Securities, Research Division
Pablo Ricalde Martinez - Itaú Corretora de Valores S.A., Research Division
João Pedro Reis Barichello
Rodrigo Reis de Almeida - Santander Investment Securities Inc., Research Division
Laura Acosta

Presentation

Barbara Amaya
Investor Relations Officer

Good morning, everyone. Welcome to Alpek's Third Quarter 2025 Earnings Webcast. I am Barbara Amaya, Alpek's IRO, and I am pleased to be here today with Jorge Young, our CEO; and José Carlos Pons, our CFO, who will be presenting today's material.

Today's agenda will cover the following topics. First, Jorge will provide an overview of the quarter. Then Jose Carlos will cover the financial results in greater detail as well as the process regarding the merger of Controladora Alpek with Alpek, following the successful completion of regulatory approval. Afterwards, Jorge will discuss the outlook for the remainder of 2025 and an update on [indiscernible]. Finally, we will conclude with a Q&A session.

Please note that the information discussed today may include forward-looking statements regarding the company's future financial performance and prospects, which are subject to certain risks and uncertainties. Actual results may differ materially, and the company cautions the market not to rely unduly on these forward-looking statements. Alpek undertakes no obligation to publicly update or revise any forward-looking statements, whether it is as a result of new information, future events or otherwise. We express our financial results in U.S. dollars unless otherwise specified. For your convenience, this webcast is being recorded and will be available on our website.

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Key Takeaways
Another meme stock frenzy is underway, sparking massive moves for shares of Beyond Meat and Krispy Kreme.Beyond Meat's stock price more than doubled Wednesday morning, touching its highest level in more than a year, before giving back most of those gains in the afternoon.Shares of Krispy Kreme, the beaten-down maker of sweet treats, have soared the past two days.

If you're old enough to remember when shares of Beyond Meat traded for under a buck apiece, read on. (It was earlier this week.)

Those days seem quaint now, with the stock moving as high as $7.69 this morning—its highest level since August of last year and up about 1,400% from its closing low this year of 52 cents, set last Thursday. (The stock had given back most of its early-session gains by Wednesday afternoon, displaying the volatility that is typical of meme plays, and was trading at $3.90 recently.)

Beyond (BYND) seems to be the meme stock of the moment, though others are vying for the pantheon: Krispy Kreme (DNUT), for example, which at 2025 intraday lows of $2.50 was down 75% for the year as of June, is now trading some 65% above those prices. Both stocks remain well off their historical highs.

Grabbing at a lightning bolt is no easy feat. JPMorgan analysts tapped both of those companies as compelling short ideas earlier this month, citing "eroding market share in a declining category" in Beyond's case and and an "overburdened balance sheet" in Krispy Kreme's.

Why This Matters to Investors
The end of a particular meme-stock run can feel as hard to time as its beginning. In the meantime, they're a signal of investor appetite for the possibility of quick action on stocks that might be lightly traded otherwise. The dramatic recent gains in shares of Beyond Meat and Krispy Kreme are just the latest examples.

Some news around the stocks has likely helped drive or sustain momentum. On Monday, Roundhill added Beyond to its Meme Stock ETF (MEME), launched in early October. (Other names in the ETF include OpenDoor (DOOR) and Plug Power (PLUG); its price is roughly flat since it arrived.) Beyond announced wider availability in Walmart (WMT) stores earlier this week. And Krispy Kreme has stepped up its overseas expansion plans.

But the dramatic short-term move in stocks like these also signals a continued investor willingness to take fliers on companies they think others can get behind—whether driven by the belief that a fallen stock will rebound, convincing arguments for a turnaround, or the possibility of a short squeeze, where people who bet against the shares are forced to buy them to stem losses.

Krispy Kreme and Beyond have the added attraction of widely known brand names, a commonality among some meme stocks. Knowing where meme traders might turn their attentions next can be tricky to say the least—and their brand of trading may fall out of fashion—but for now, there's sizzle to be had.

Do you have a news tip for Investopedia reporters? Please email us at

[email protected]

Key Takeaways Pegasystems' Q3 earnings rose 58% Y/Y to $0.30 per share, surpassing the consensus estimate by 66.67%.
Revenues climbed 17% to $381.35M, fueled by AI-integrated workflows and rising cloud subscriptions.
Total ACV advanced 14% and backlog jumped 19%, signaling sustained demand and future growth visibility.

Pegasystems (PEGA - Free Report) reported third-quarter 2025 non-GAAP earnings of 30 cents per share, which beat the Zacks Consensus Estimate by 66.67% and increased 58% year over year.

Revenues of $381.35 million beat the Zacks Consensus Estimate by 7.42% and increased 17% year over year.

Pegasystems’ strong third-quarter 2025 performance is driven by its unique AI strategy, led by the Pega Blueprint platform. Growth was fueled by AI-integrated workflows, rising cloud subscriptions, and disciplined execution, resulting in higher ACV, backlog, and margin gains.

PEGA stock rallied 22.4% in the year-to-date period, outperforming the Zacks Computer and Technology sector’s rise of 19.6%

PEGA’s Quarterly PerformanceSubscription services revenues, comprising Pega Cloud and Maintenance, generated $264.2 million (contributing 69% to total revenues), up 18% on a year-over-year basis.

Subscription license revenues (16% of total revenues) were $60.6 million, representing a 33% year-over-year growth.

Total Subscription revenues, consisting of both subscription services and subscription licenses, rose 20% year over year to $324.8 million (contributing 85% to total revenues).

Consulting revenues (15% of the total revenues) were $56.4 million. The reported figure is up 4% year over year.

Perpetual license revenues (41.4% of the total revenues) were $158 million, declining 65% year over year. This segment remains a negligible contributor compared to others.

Pega Cloud's Annual Contract Value (ACV) increased 27% year over year to 815 million.

Maintenance and Subscription licenses, collectively referred to as Client Cloud ACV, rose 3% year over year to $742 million.

The company reported that Total ACV increased 14% year over year on a reported and constant-currency basis, reaching $1.557 billion.

The company's backlog grew 19% year over year on a reported basis and 18% on a constant currency basis, underscoring the sustained demand for its services and products and future revenue visibility.

Pegasystems’ Q3 Operating ResultsIn the third quarter of 2025, the gross margin expanded 190 basis points (bps) year over year to 72.3%.

Total operating expenses increased 8.7% year over year to $261 million. As a percentage of revenues, operating expenses decreased 550 bps.

The company reported an operating income of $14.5 million, down 224.1% year over year. The operating margin expanded 740 bps from the year-ago quarter to 3.8%.

PEGA’s Balance Sheet & Cash FlowAs of Sept. 30, 2025, cash and cash equivalents and marketable securities were $351.3 million compared with $411.6 million as of June 30, 2025.

Operating cash flow rose more than 38% year over year to $347 million, while free cash flow grew 38% to approximately $338 million.

PEGA repurchased 8.7M shares for $393 million in the year-to-date period.

PEGA’s Zacks Rank & Stocks to ConsiderCurrently, Pegasystems carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Computer and Technology sector are Alkami Technology (ALKT - Free Report) , AMETEK (AME - Free Report) and Celestica (CLS - Free Report) . While Alkami Technology sports a Zacks Rank #1 (Strong Buy), AMETEK and Celestica carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Alkami Technology is set to report third-quarter 2025 results on Oct. 30. Alkami Technology shares have lost 35.1% year to date.

AMETEK is slated to report third-quarter 2025 results on Oct. 30. AMETEK shares have gained 4.5% year to date.

Celestica is set to report third-quarter 2025 results on Oct. 27. Celestica shares have surged 186.8% year to date.

By Reuters

October 22, 20256:37 PM UTCUpdated ago

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CompaniesOct 22 (Reuters) - Exxon Mobil

(XOM.N), opens new tab said on Wednesday it is working to discontinue operations and taking steps to exit the Sakhalin-1 oil and gas project.

The U.S. energy major added it will make no new investments in Russia and will fully comply with all sanctions.

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Reporting by Vallari Srivastava in Bengaluru; Editing by Shreya Biswas

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Coca-Cola has started selling soda with cane sugar in the US after President Trump demanded the company make an American version of its Mexican Coke. 

Starting this fall, the company is selling “a new 12-oz single-serve glass bottle in select US markets, offering consumers a classic and timeless way to enjoy their Coca-Cola Original Taste made with US cane sugar,” a Coca-Cola spokesperson told The Post.

The company in July announced the new soda was coming to the US, after Trump claimed the company had “agreed” to start adding “REAL cane sugar” in American Coke.

Coca-Cola has started selling soda with cane sugar in the US following President Trump’s demand. Maksim – stock.adobe.com
“You’ll see,” the president wrote. “It’s just better!”

Several international versions of Coke use cane sugar, including Mexican Coke, which the company started importing to Texas in the early 2000s. It has since gained a cultlike following.

Fans of Mexican Coke have argued cane sugar gives the soda a “cleaner,” “sharper” taste. 

Participants in blind taste tests also tend to choose the cane sugar-sweetened option, according to the New York Times. 

Coca-Cola already uses cane sugar in other beverages sold in the US, including Simply Lemonade, Gold Peak iced tea and Costa canned coffee.

It made the switch to cheaper high-fructose corn syrup in its namesake soft drinks years ago.

But Health Secretary Robert F. Kennedy Jr. has railed against the ingredient during his “Make America Healthy Again” campaign, even calling it “poison.”

Trump in July claimed the company had “agreed” to start adding “REAL cane sugar” in American Coke. Getty Images
“Clearly it is linked to the obesity epidemic. It’s linked to the diabetes epidemic,” Kennedy said in 2023 on “The Breakfast Club,” a radio show.

“If you’re going to drink Coca-Cola, drink a Mexican Coke because they don’t have it in it.”

After Steak ‘n Shake announced it would start offering Coca-Cola with real cane sugar at its restaurants, Kennedy tweeted: “MAHA is winning.”

The company’s rollout of real cane sugar Coke will be staggered as it faces several supply chain snags. 

“It’s going to be a measured rollout,” Chief Financial Officer John Murphy told Bloomberg. “There is only a certain amount of cane sugar available in the United States.”

The company’s rollout of real cane sugar Coke will be staggered as it faces several supply chain snags.  Adriana – stock.adobe.com
The cane sugar soda comes in Coca-Cola’s iconic glass bottles – and limited production capacity for this bottling process presents another challenge.

“If you look at the success of Mexican Coke in the United States, it’s a combination of the product and the package and we’re very keen to offer that same combination using American cane sugar,” Murphy told the outlet.

The ability to bottle the cane sugar drink in glass bottles needs to expand before the new drink can be distributed nationwide, according to Murphy.

Experts have warned that swapping out one sugar with another won’t do much to make the drinks healthier. Rather, consumers should be focused on drinking fewer sugary beverages. 

Health Secretary Robert F. Kennedy Jr. has railed against the use of high-fructose corn syrup. Bonnie Cash/UPI/Shutterstock
“Our bodies aren’t going to know if that’s cane sugar or high-fructose corn syrup,” Caroline Susie, spokesperson for the Academy of Nutrition and Dietetics and a registered dietitian nutritionist, told Health.

“We just know that it is sugar and we need to break that down,” she added.

The FDA has said it is “not aware of any evidence” that there is a difference in safety between high-fructose corn syrup and other sweeteners, like sucrose or honey.

Coca-Cola – like many other food companies – has lately seen success in its healthier products, like BodyArmor and Smartwater. 

In the third quarter, Coca-Cola Zero Sugar volumes jumped 14% globally.

Wedbush Analyst Alicia Reese says Netflix's tax hit in Brazil was only one of the disappointments in the streaming giant's earnings. She joins “Bloomberg Tech” and explains why Netflix has to “knock it out of the park” with each earnings report.

Mifflintown, PA, Oct. 22, 2025 (GLOBE NEWSWIRE) -- Juniata Valley Financial Corp. (OTCQX:JUVF) (“Juniata”), announced net income for the three months ended September 30, 2025 of $2.1 million, an increase of 25.6% compared to net income of $1.6 million for the three months ended September 30, 2024. Earnings per share, basic and diluted, increased 24.2%, to $0.41, during the three months ended September 30, 2025, compared to $0.33 during the three months ended September 30, 2024. Net income was $6.0 million for the nine months ended September 30, 2025, an increase of 26.1% compared to net income of $4.7 million for the nine months ended September 30, 2024. Earnings per share, basic and diluted, increased 25.3%, to $1.19, during the nine months ended September 30, 2025, compared to $0.95 during the nine months ended September 30, 2024.

President’s Message

President and Chief Executive Officer, Marcie A. Barber stated, “We are excited to announce third quarter net income of $2.1 million. Our growth in earnings was primarily due to the continued improvement in our net interest margin, which increased 31 basis points over last year’s quarter, achieved through disciplined loan and deposit pricing. Focused customer acquisition efforts have resulted in strong growth in loan outstandings and increases in core deposits to support that growth. Credit quality remains strong with nonperforming loans totaling 0.1% of the total loan portfolio and delinquent and nonperforming loans comprising 0.2% of the portfolio. We anticipate healthy loan activity throughout the remainder of 2025 and into next year.”     

Financial Results Year-to-Date

Annualized return on average assets for the nine months ended September 30, 2025 was 0.92%, an increase of 26.0% compared to the annualized return on average assets of 0.73% for the nine months ended September 30, 2024. Annualized return on average equity for the nine months ended September 30, 2025 was 15.65%, an increase of 6.5% compared to the annualized return on average equity of 14.70% for the nine months ended September 30, 2024.

Net interest income was $18.6 million during the nine months ended September 30, 2025 compared to $17.1 million during the comparable 2024 period. Average earning assets decreased $3.8 million, or 0.4%, to $852.4 million, during the nine months ended September 30, 2025 compared to the same period in 2024, due primarily to a decrease of $18.6 million, or 5.9%, in average investment securities as principal paydowns on the mortgage-backed securities portfolio were used for funding needs rather than being reinvested into the securities portfolio. This decline was partially offset by a $15.7 million, or 2.9%, increase in average loans comparing the nine month periods. Average interest bearing liabilities decreased by $7.6 million, or 1.2%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. This decrease was primarily due to a decline of $22.4 million, or 30.7%, in average borrowings and other interest bearing liabilities, which was partially offset by an increase in average time deposits of $15.1 million, or 7.4%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

The yield on earning assets increased 17 basis points, to 4.50%, for the nine months ended September 30, 2025 compared to same period in 2024 driven by an increase in loan yields of 16 basis points, while the cost to fund interest earning assets with interest bearing liabilities decreased eight basis points, to 2.23%. The net interest margin, on a fully tax equivalent basis, increased from 2.70% for the nine months ended September 30, 2024 to 2.94% for the nine months ended September 30, 2025.

Juniata recorded a provision for credit losses of $669,000 in the nine months ended September 30, 2025 compared to a provision for credit losses of $471,000 in the nine months ended September 30, 2024. The increase in the provision for credit losses between nine month periods was primarily the result of 8.2% loan growth as of September 30, 2025 compared to December 31, 2024, in contrast to 2.4% loan growth during the same period in 2024.

Non-interest income was $4.3 million for the nine months ended September 30, 2025 compared to $4.2 million for the nine months ended September 30, 2024. Most significantly impacting the comparative nine month periods was an increase of $100,000 in customer service fees in the 2025 period, which was partially offset by a decrease of $79,000 in commissions from sales of non-deposit products in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 due to the transition to a new wealth management business model in 2025.

Non-interest expense was $15.2 million for the nine months ended September 30, 2025 compared to $15.4 million for the nine months ended September 30, 2024, a decrease of 1.1%. Most significantly impacting non-interest expense in the comparative nine month periods was a decrease in employee benefits expenses of $209,000 due to a decline in medical claims expenses for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Also contributing to the decrease in non-interest expense between the comparative nine month periods were decreases of $121,000 in professional fees and $55,000 in FDIC insurance premiums. These decreases were partially offset by increases of $94,000 in equipment expense and $164,000 in the provision for unfunded loan commitments, which is included in other non-interest expense, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

An income tax provision of $1.1 million was recorded for the nine months ended September 30, 2025 compared to an income tax provision of $767,000 recorded for the nine months ended September 30, 2024, primarily due to the increase in taxable income in the 2025 period.

Financial Results for the Quarter

Annualized return on average assets for the three months ended September 30, 2025 was 0.94%, an increase of 23.7%, compared to 0.76% for the three months ended September 30, 2024. Annualized return on average equity for the three months ended September 30, 2025 was 15.47%, an increase of 5.1%, compared to 14.72% for the three months ended September 30, 2024.

Net interest income was $6.6 million for the three months ended September 30, 2025 compared to $5.8 million for the three months ended September 30, 2024. Average interest earning assets increased 1.4%, to $864.6 million, for the three months ended September 30, 2025 compared to the same period in 2024, due to an increase of $31.0 million, or 5.7%, in average loans, which was partially offset by a $19.1 million, or 6.2%, decrease in average investment securities. Average interest bearing liabilities increased by $4.4 million, or 0.7%, for the three months ended September 30, 2025 compared to the three months ended September 30, 2024. This increase was primarily due to an increase of $19.7 million, or 3.6%, in average interest bearing deposits, which was partially offset by a decrease of $15.3 million, or 23.4%, in average borrowings and other interest bearing liabilities for the three months ended September 30, 2025 compared to the three months ended September 30, 2024.

The yield on earning assets increased 18 basis points, to 4.59%, for the three months ended September 30, 2025 compared to same period in 2024, driven by an increase in loan yields of 12 basis points, while the cost to fund interest earning assets with interest bearing liabilities decreased 16 basis points, to 2.22%. The net interest margin, on a fully tax equivalent basis, increased from 2.73% for the three months ended September 30, 2024 to 3.04% for the three months ended September 30, 2025.

Juniata recorded a provision for credit losses of $216,000 for the three months ended September 30, 2025 compared to a provision for credit losses of $232,000 for the three months ended September 30, 2024.

Non-interest income was $1.5 million for the three months ended September 30, 2025 compared to $1.4 million for the three months ended September 30, 2024. Most significantly impacting the comparative three month periods was an increase of $99,000 in fees derived from loan activity primarily due to increases in title insurance commissions, as well as increases in letter of credit and guidance line fees. These increases were partially offset by a decrease of $38,000 in commissions from sales of non-deposit products in the three months ended September 30, 2025 compared to the three months ended September 30, 2024.

Non-interest expense was $5.4 million for the three months ended September 30, 2025 compared to $5.1 million for the three months ended September 30, 2024. Most significantly impacting non-interest expense in the comparative three month periods was an increase of $328,000 in employee compensation expense. Also contributing to the increase in non-interest expense between the comparative three month periods was an increase of $161,000 in other non-interest expense primarily due to an increase of $80,000 in expenses associated with the changes to the wealth management department, as well as an increase of $39,000 in the provision for unfunded commitments. Partially offsetting these increases was a decrease of $79,000 in employee benefits expense due to a decline in medical claims expense in the three months ended September 30, 2025 compared to the three months ended September 30, 2024.

An income tax provision of $357,000 was recorded for the three months ended September 30, 2025 compared to an income tax provision of $270,000 recorded for the three months ended September 30, 2024, primarily due to greater taxable income in the 2025 period.

Financial Condition

Total assets as of September 30, 2025 were $880.5 million, an increase of $31.6 million, or 3.7%, compared to total assets of $848.9 million at December 31, 2024. Total loans increased by $43.9 million, or 8.2%, as of September 30, 2025 compared to year-end 2024 mainly due to increases in commercial and consumer real estate loans. This increase was partially offset by a $10.2 million, or 4.0%, decrease in debt securities as of September 30, 2025 compared to December 31, 2024, as cash flows were used for funding needs rather than being reinvested into the investment portfolio. Total deposits increased by $27.6 million, or 3.7%, as of September 30, 2025 compared to December 31, 2024 due to increases in both non-interest and interest bearing deposits. Long-term debt decreased by $5.0 million, or 100.0%, as of September 30, 2025 compared to year-end 2024 due to the maturity of the remaining FHLB long-term advance in June 2025. Total capital increased $7.5 million, or 15.9%, as of September 30, 2025 due to an increase in undivided profits and a decline in other comprehensive losses compared to year-end 2024.

Juniata maintained a strong liquidity position as of September 30, 2025, with additional borrowing capacity with the Federal Home Loan Bank of Pittsburgh of $214.7 million and $50.6 million in additional borrowing capacity from the Federal Reserve’s Discount Window. In addition, Juniata has internal authorization for brokered deposits of up to $175.0 million. Juniata had no brokered deposits outstanding as of September 30, 2025.

Subsequent Event

On October 21, 2025, the Board of Directors declared a cash dividend of $0.22 per share to shareholders of record on November 17, 2025, payable on December 1, 2025.

Management considers subsequent events occurring after the statement of condition date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements with the Securities and Exchange Commission. Accordingly, the financial information in this release is subject to change.

The Juniata Valley Bank, the principal subsidiary of Juniata Valley Financial Corp., is headquartered in Mifflintown, Pennsylvania, with fourteen community offices located in Juniata, Mifflin, Perry, Franklin, McKean and Potter Counties. More information regarding Juniata Valley Financial Corp. and The Juniata Valley Bank can be found online at www.JVBonline.com. Juniata Valley Financial Corp. trades through the OTCQX Best Market under the symbol JUVF.

Forward-Looking Information
*This press release may contain “forward looking” information as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the current views of Juniata’s management with respect to, among other things, future events and Juniata’s financial performance. When words such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or similar expressions are used in this release, Juniata is making forward-looking statements. Such information is based on Juniata’s current expectations, estimates and projections about future events and financial trends affecting the financial condition of its business, many of which, by their nature, are inherently uncertain and beyond the control of Juniata. These statements are not historical facts or guarantees of future performance, events or results and are subject to risks, assumptions and uncertainties that are difficult to predict. If one or more events related to these or other risks or uncertainties materializes, or if underlying assumptions prove to be incorrect, actual results may differ materially from this forward-looking information. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and many factors could affect future financial results. Juniata undertakes no obligation to publicly update or revise forward looking information, whether because of new or updated information, future events, or otherwise. For a more complete discussion of certain risks and uncertainties affecting Juniata, please see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Statements” set forth in the Juniata’s filings with the Securities and Exchange Commission.

Financial Statements

Juniata Valley Financial Corp. and Subsidiary
Consolidated Statements of Financial Condition

       (Dollars in thousands, except share data)    (Unaudited)       September 30, 2025 December 31, 2024ASSETS      Cash and due from banks $5,585  $5,064 Interest bearing deposits with banks  4,893   5,934 Cash and cash equivalents  10,478   10,998        Equity securities  1,218   1,189 Debt securities available for sale  61,460   64,623 Debt securities held to maturity (fair value $181,592 and $182,773, respectively)  184,557   191,627 Restricted investment in bank stock  2,508   2,530 Total loans  577,722   533,869 Less: Allowance for credit losses  (6,834)  (6,183)Total loans, net of allowance for credit losses  570,888   527,686 Premises and equipment, net  9,171   9,382 Bank owned life insurance and annuities  15,990   15,214 Investment in low income housing partnerships  591   832 Core deposit and other intangible assets  207   258 Goodwill  9,812   9,812 Mortgage servicing rights  62   69 Deferred tax asset, net  8,547   9,842 Accrued interest receivable and other assets  4,978   4,812 Total assets $880,467  $848,874 LIABILITIES AND STOCKHOLDERS' EQUITY        Liabilities:        Deposits:        Non-interest bearing $207,419  $196,801 Interest bearing  568,159   551,156 Total deposits  775,578   747,957        Short-term borrowings and repurchase agreements  42,744   42,242 Long-term debt  —   5,000 Other interest bearing liabilities  713   830 Accrued interest payable and other liabilities  6,431   5,388 Total liabilities  825,466   801,417 Commitments and contingent liabilities      Stockholders' Equity:        Preferred stock, no par value: Authorized - 500,000 shares, none issued  —   — Common stock, par value $1.00 per share: Authorized 20,000,000 shares; Issued - 5,151,279 shares at September 30, 2025 and December 31, 2024; Outstanding - 5,018,799 shares at September 30, 2025 and 5,003,384 shares at December 31, 2024  5,151   5,151 Surplus  24,781   24,896 Retained earnings  55,793   53,126 Accumulated other comprehensive loss  (28,584)  (33,320)Cost of common stock in Treasury: 132,480 shares at September 30, 2025; 147,895 shares at December 31, 2024  (2,140)  (2,396)Total stockholders' equity  55,001   47,457 Total liabilities and stockholders' equity $880,467  $848,874  Juniata Valley Financial Corp. and Subsidiary
Consolidated Statements of Income (Unaudited)

               Three Months Ended  Nine Months Ended (Dollars in thousands, except share and per share data) September 30,  September 30,      2025    2024 2025    2024Interest income:        Loans, including fees $8,624 $7,979 $24,517 $23,224Taxable securities  1,325  1,421  4,062  4,341Tax-exempt securities  30  30  90  89Other interest income  17  24  54  116Total interest income  9,996  9,454  28,723  27,770Interest expense:                Deposits  2,903  2,879  8,595  8,243Short-term borrowings and repurchase agreements  530  741  1,501  2,151Long-term debt  —  31  51  237Other interest bearing liabilities  7  8  21  25Total interest expense  3,440  3,659  10,168  10,656Net interest income  6,556  5,795  18,555  17,114Provision for credit losses  216  232  669  471Net interest income after provision for credit losses  6,340  5,563  17,886  16,643Non-interest income:                Customer service fees  474  473  1,400  1,300Debit card fee income  458  428  1,330  1,302Earnings on bank-owned life insurance and annuities  71  60  190  174Trust fees  106  108  349  359Commissions from sales of non-deposit products  60  98  230  309Fees derived from loan activity  202  103  475  451Change in value of equity securities  64  70  76  66Gain from life insurance proceeds  —  —  20  —Other non-interest income  82  105  270  259Total non-interest income  1,517  1,445  4,340  4,220Non-interest expense:                Employee compensation expense  2,577  2,249  6,650  6,689Employee benefits  476  555  1,524  1,733Occupancy  278  320  945  979Equipment  251  248  711  617Data processing expense  734  684  2,141  2,162Professional fees  256  297  709  830Taxes, other than income  45  60  171  154FDIC Insurance premiums  126  141  380  435Amortization of intangible assets  16  22  51  64Amortization of investment in low-income housing partnerships  80  81  241  242Other non-interest expense  605  444  1,671  1,453Total non-interest expense  5,444  5,101  15,194  15,358Income before income taxes   2,413  1,907  7,032  5,505Income tax provision  357  270  1,057  767Net income $2,056 $1,637 $5,975 $4,738Earnings per share                Basic $0.41 $0.33 $1.19 $0.95Diluted $0.41 $0.33 $1.19 $0.95

Key Takeaways HBAN closed its $1.9B all-stock merger with Veritex, expanding its Texas presence and branch network.The combined company holds $223B in assets and expects stronger loan and deposit growth post-merger.HBAN raised its 2025 NII growth outlook to 10-11% and projects efficiency gains and higher ROTCE.
Huntington Bancshares, Inc. (HBAN - Free Report) has completed its merger with Veritex Holdings, Inc. in a $1.9 billion all-stock transaction, strengthening its commitment to the Texas market.

Both Huntington and Veritex customers will continue to bank as normal at their existing branches. Veritex customer accounts will be converted to Huntington's systems in the first quarter of 2026.

Strategic Implications of HBAN - Veritex MergerThe merger with Veritex represents HBAN’s strategic plan to accelerate its strong organic growth in Texas by expanding its presence in Dallas/Fort Worth and Houston.

The combined company has nearly $223 billion in assets, $176 billion in deposits and $148 billion in loans. With Veritex's 31 branches in Texas, Huntington will have more than 1,000 branches in its network. Huntington plans to maintain Veritex's branch network and invest in growing it over time. 

During the third-quarter earnings call, HBAN management stated that the integration is expected to generate about $20 million in core pre-provision net revenue benefits in the fourth quarter of 2025. Further, the company expects efficiency ratio improvement of around 1 percentage point and a 30-basis-point lift in return on average tangible common equity (ROTCE) for 2025, with greater opportunity anticipated from revenue growth synergies.

Also, as the Veritex acquisition accelerated Texas expansion, Huntington now expects net interest income (NII) to grow between 10% and 11% compared with the prior outlook of 8% to 9%. This improvement is supported by continued strength in both loan and deposit growth. Inclusive of Veritex, average deposit balance growth is projected to be in the range of 6.5% to 7%. Loan growth is expected to reach approximately 9% to 9.5% for the year.

Additionally, Huntington projects mid to high single-digit loan growth in 2026, driven by expansion in high-growth markets like Texas and sustained operational efficiency.

HBAN’s Prior Efforts to Expand in TexasIn March 2024, HBAN announced plans to expand its commercial banking business in Texas, following its footprint extension in the Dallas-Fort Worth area in early 2024.

As part of its ongoing geographic and vertical expansion, the company broadened its middle-market banking presence in Texas. In January 2025, Huntington introduced two new verticals, the Financial Institutions Group and the Aerospace & Defense Group, as part of its ongoing geographic and vertical expansion. Both verticals offer advisory services and corporate banking solutions, including liquidity and treasury management, capital markets and corporate finance.

These strategic efforts are expected to strengthen Huntington’s commercial banking capabilities, broaden its market presence and attract new customer segments across the region.

HBAN’s Price Performance & Zacks RankOver the six months, shares of Huntington have risen 14.6% compared with the industry’s growth of 9.5%.

Image Source: Zacks Investment Research

HBAN currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Finance Firms Taking Similar StepsEarlier this month, Rocket Companies, Inc. (RKT - Free Report) completed the acquisition of Mr. Cooper Group Inc. in a $14.2 billion all-stock transaction. As a result of the acquisition, the combined company is expected to serve nearly 10 million clients, managing a $2.1 trillion unpaid principal balance, which represents roughly one in every six mortgages across the country.

The combination unites Mr. Cooper’s servicing operations with RKT’s scale in mortgage origination and its growing real estate and technology platform. Together, the companies will create a comprehensive homeownership ecosystem spanning mortgage origination, servicing, real estate search, title, and closing. As part of the transaction, Mr. Cooper and its servicing operations will transition under the Rocket brand.

In the same month, Fifth Third Bancorp (FITB - Free Report) entered a definitive merger agreement to acquire Comerica Incorporated in an all-stock transaction valued at $10.9 billion. The transaction is projected to close at the end of the first quarter of 2026.

The impending acquisition serves as a strategic acceleration of FITB’s long-term growth plan, enhancing scale, profitability and geographic reach. By integrating Fifth Third’s retail and digital banking platforms with Comerica’s strong middle-market expertise and attractive regional footprint, the merger enhances FITB’s presence across high-growth markets.

Key Takeaways
Uno cards, Hot Wheels cars and American Girl dolls are popular purchases, according to Mattel, while Barbie and Polly Pocket sales have slowed.Mattel says it is on track to meet its 2025 sales goal despite retailers shifting more of their orders to the fourth quarter.

Uno is still number one.

The multi-colored game deck is the top-selling card game and has grown for nine quarters in a row, according to Mattel (MAT), its parent company, which late Tuesday briefed analysts about the trends the toy and game giant sees heading into the holiday shopping season.

Among those trends: American Girl doll sales are on the rise, with Mattel saying that the segment had its fourth consecutive quarter of growth during the period ending Sept. 30; other popular items included Hot Wheels cars, Monster High dolls and toys related to the Jurassic Park and Wicked movies. Sales of Barbie and Polly Pocket toys trailed off, executives said on a conference call.

Mattel's quarterly sales fell 6% year-over-year, and its net income fell 25%. The company said its numbers fell because retailers changed order methods in the face of tariffs. It expects to make up the sales in the months ahead, and reiterated its full-year forecast of 1% to 3% sales growth, though some analysts observed that the third-quarter performance adds pressure on the company to close the year strong.

"Near-term uncertainty could weigh on the shares despite an overall better '26 outlook," UBS wrote Wednesday.

What This News Means for Consumers
Both Mattel and Hasbro have said they would raise prices in response to tariffs, though Mattel said today that it's done raising prices for the year. Both companies likely have greater ability to limit price increases than smaller toy and game companies with less negotiating power.

Fewer retailers are picking up products abroad, and more are relying on Mattel to import and warehouse goods, despite it costing retailers more, CFO Paul Ruh said. This gives retailers "more flexibility to commit to orders" amid shifting trade policies and consumer dynamics, Ruh said. (Both ordering options present Mattel with similar "economics," he said.)

Retailers tend to place domestic shipment orders closer to when they need merchandise, which has shifted many orders into the fourth quarter, Mattel said. "They want to be ready for the season, and they're stocking up," Ruh said, according to a transcript made available from AlphaSense. "These trends are tracking in line, actually, with our full year outlook."

Mattel raised prices in recent months in response to tariffs. It won't consider additional increases until 2026, Ruh said. The new prices haven't weighed on consumer demand, the company said.

Additional insight on how the toy industry is faring may come on Thursday, when Hasbro (HAS) is slated to discuss its results with investors.

Mattel shares, recently off less than 1%, are up about 6% so far this year.

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Carrefour SA (OTCPK:CRRFY) Q3 2025 Sales Call October 22, 2025 12:15 PM EDT

Company Participants

Matthieu Malige - Chief Financial Officer

Conference Call Participants

Frederick Wild - Jefferies LLC, Research Division
Robert Joyce - BNP Paribas Exane, Research Division
François Digard - Kepler Cheuvreux, Research Division
Geoffroy Michalet - ODDO BHF Corporate & Markets, Research Division
Sreedhar Mahamkali - UBS Investment Bank, Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to the Carrefour Q3 2025 Sales Conference Call. [Operator Instructions]. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Matthieu Malige, CFO. Please go ahead, sir.

Matthieu Malige
Chief Financial Officer

Thank you. Good afternoon to all of you, and thank you for attending our 2025 Q3 sales call. I'm here with Sebastien Valentin, Head of Investor Relations and our IR team.

Before we get into the numbers, I would like to remind you that Carrefour's operations in Italy are now accounted for as discontinued operations in accordance with the IFRS 5 accounting standard. As a reminder, the key restated figures for 2024 and H1 2025 were posted a few weeks ago and are available in the Finance section of our website.

Let me start with a few key highlights before we get into the details of our third quarter sales. This quarter, we delivered positive like-for-like growth across France, Europe and Latin America, resulting in the total group sales up 2.1% on a like-for-like basis. That performance was clearly driven by food sales up 2.9% like-for-like over the quarter at group level. Throughout the quarter, we continued to see dynamic markets in Europe, notably in France and Spain.

In France, the positive momentum initiated in the second quarter is confirmed, driven by growth in both

Recommended For You

On this week’s episode of ETF Prime, Nate Geraci hosted a detailed discussion featuring Matt Kaufman, the global head of ETFs for Calamos Investments about the Calamos Autocallable Income ETF (CAIE), the first auto callable ETF on the market, which launched in June. David Mann, head of ETF product and capital markets at Franklin Templeton, also joined the podcast. He discussed Franklin Templeton’s achievement of surpassing $50 billion in global ETF assets and much more. 

Matt Kauffman on Autocallable Mechanics
CAIE has quickly become Calamos’ most popular ETF, surpassing $300 million in assets under management in just a couple of months. According to Kaufman, auto callable ETFs are structured similarly to bonds but linked to equity indices, paying monthly income and returning principal if the underlying equity does not fall below a predefined barrier.

Throughout the interview, Geraci asked clarifying questions on autocallable mechanics, coupon drivers, and risk factors for better investor understanding. He also stressed the importance of transparency and investor education, especially as product complexity increases.

Kaufman explained the mechanics, including reference indices, coupon and principal barriers (e.g., 40% downside thresholds), and a “laddered” approach to diversify risk. CAIE’s coupon rates have recently exceeded 14%, reflecting the tradeoff between higher income and exposure to deep equity market tail risk with limited upside potential. 

The conversation contrasted autocallable ETFs with more familiar covered call and equity premium income ETFs, noting that CAIE offers more stable payouts and tax advantages, with nearly all coupons treated as return of capital. Kaufman emphasized that advisors often use CAIE as an equity or high-yield bond replacement, as its volatility profile tracks the S&P 500 over time.

Kaufman also previewed the upcoming Calamos US Tech Autocallable Income ETF (CAIQ), which tracks the NASDAQ 100 and offers potentially higher income due to increased index volatility, while maintaining a diversified laddered portfolio structure.

David Mann on Franklin Templeton’s ETF Growth and Market Positioning
Mann highlighted the drivers behind this growth, including a broad lineup of smart beta, index, and active strategies — with particular success in active ETFs and single-country funds.

Mann noted strong inflows into flagship funds such as the Franklin International Low Volatility High Dividend ETF (LVHI) and the Putnam Focus Large Cap Value ETF (PVAL). He explained that regulatory changes and investor demand for proven active strategies have contributed to active ETF growth.

Mann also shared cautionary insights regarding the newly approved ETF share class structure, suggesting its impact might be limited compared to the momentum behind active ETFs. 

Listen to the entire episode here:
For more ETF Prime podcast episodes, visit our ETF Prime Content Hub. 

Earn free CE credits and discover new strategies

The crypto market is moving, and November could be an important month for certain altcoins. Looking at macro trends can help identify potential opportunities. Gold recently reached high levels, with indicators showing extreme overbought conditions. Historically, when gold peaks like this, money flows into Bitcoin first. Bitcoin gains then support Ethereum, large-cap altcoins, and eventually smaller projects. Here are five altcoins to watch:

Chainlink (LINK) is trading around $18 with a $12 billion market cap. Its all-time high price was near $50. The asset is near a bottom after pulling back from $27. Support around $13 to $15 could trigger a rebound. 

Chainlink serves as a reliable oracle protocol, connecting decentralized finance applications to real-world data. Analysts project a move above $28 if momentum returns.

Ondo (ONDO) trades near $0.71 with a $2.3 billion market cap. Its all-time high was over $2. The weekly chart shows strong support tested several times, indicating an accumulation phase. Resistance between $1.17 and $1.70 is the next target. Ondo focuses on tokenizing real-world assets, positioning it for long-term growth.

Internet Computer (ICP) is downtrending, trading around $3 with a $1.7 billion market cap. Support levels from November 2022 remain relevant. ICP supports smart contracts, AI, and big data applications. Analysts expect a rebound once the stochastic RSI shows a bullish crossover and price confirms support. Initial resistance sits near $4.50.

SEI (SEI) trades around $0.19 with a $1.2 billion market cap. SEI is built for decentralized exchanges, processing thousands of transactions quickly and cheaply. Its native order matching engine reduces latency and costs. 

Backed by institutions like Coinbase and Circle, SEI is well-positioned for growth in trading-focused applications.

Sui (SUI) trades around $2.56 with a $9 billion market cap, down from nearly $5. The project combines Web3 and Web2 features, offering high-speed and secure blockchain infrastructure. Support near $2 could mark a bottom, with resistance between $3.17 and $4.40. On-chain activity is strong, including high decentralized exchange volume.

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Crypto ETF race heats up with 155 filings, and Solana leads altcoin demand, while bullish catalysts could lift SOL toward $235.

Izabela Anna2 min read

22 October 2025, 04:58 PM

The race to launch crypto exchange-traded products (ETPs) in the United States is intensifying, with asset managers rushing to capitalize on a more favorable regulatory climate. According to Bloomberg analyst Eric Balchunas, there are now over 155 crypto ETP filings covering 35 different digital assets. He expects this number could exceed 200 within the next year, signaling what he described as a “total land rush.” 

Regulatory Optimism Sparks ETF BoomLast month, the SEC introduced Generic Listing Standards providing clear guidelines for crypto ETF submissions. If an application meets these criteria, it can bypass the traditionally lengthy 19b-4 approval process. This streamlined framework has encouraged asset managers to submit a record number of filings this year.

Besides Bitcoin and Ethereum, the big winner among altcoins appears to be Solana (SOL). The token has seen 23 ETF applications matching Bitcoin in volume and surpassing other major cryptocurrencies like XRP, Cardano, and Dogecoin. 

According to The Future Of Money data, pending SEC approvals could soon include altcoin ETFs for LTC, SOL, XRP, ADA, DOGE, and HBAR, with review deadlines between October 2 and 26. These developments reflect a growing appetite among institutional investors to gain exposure to a diversified crypto portfolio.

Solana Price Outlook and Market CatalystsDespite the regulatory excitement, Solana’s price has struggled in recent days. SOL trades at $184.65, down 4.64% in 24 hours and over 8% in the past week. However, traders believe a rebound may be imminent. Matthew Dixon, a market analyst, noted that SOL recently bounced from a local low of $172, showing the start of an impulsive upward move.

Source: X

According to his analysis, the correction phase appears complete, and bullish momentum could soon resume. Key resistance levels stand at $196.7, $203, and $211.5, with a potential target near $235 if momentum accelerates. Additionally, macro events such as the upcoming interest rate decision, government funding progress, and ETF approvals could act as major catalysts for Solana’s next leg higher.

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Izabela Anna

Izabela Anna is a knowledgeable freelance journalist, who boasts over five years of experience covering the cryptocurrency market. Her tenure has seen her navigate through the ebbs and flows of multiple market cycles, giving her a deep understanding within. Her journalistic focus lies in dissecting price action dynamics, scrutinizing the on-chain landscape, and providing insights from a technical perspective, making her a trusted voice in the realm of cryptocurrency reporting.

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Latest Solana (SOL) News Today

Dogecoin is back pressing a long-standing resistance cluster as two prominent traders map the next pivotal steps. Cantonese Cat highlights a stubborn monthly Fibonacci ceiling at the 0.886 retracement—marked on his chart at $0.26633—while top trader Kaleo (who is leading the Synthetix trading challenge) points to a thin-liquidity pocket on lower time frames that he believes could enable a “swift reclaim” of $0.25.

Long-Term Perspective On Dogecoin
On the monthly grid shared by Cantonese Cat, the key levels are unambiguous. DOGE’s primary resistance remains the 0.886 retracement at $0.26633, just below the cycle reference at 1.000, labeled $0.73905.

Support beneath price lines up with the 0.786 retracement at $0.10879, followed by 0.707 at $0.05363 and 0.618 at $0.02417. The current monthly candle sits near $0.19–$0.20 with roughly ten days left on the bar, holding within a consolidation corridor bounded by $0.10879–$0.26633 after an aggressive spike that wicked into 0.786—what the analyst called a “scam wick.”

His read: DOGE “is having a hard time breaking above 0.886 for good,” because a clean breach would be “incredibly bullish,” and he expects another challenge of that level in Q4 2025.

Dogecoin monthly chart analysis | Source: X @cantonmeow
The levels on the chart contextualize DOGE’s multi-quarter structure. Since the 2021 blow-off, price has respected the Fibonacci ladder, repeatedly orbiting between the 0.707 and 0.886 bands. The failed pushes toward $0.26633 and the quick rejection wicks underscore how supply continues to reload at that shelf, while the sharp but short-lived pierce to the $0.10879 region confirms dip demand at the 0.786 handle without establishing acceptance below it.

With the candle bodies clustered mid-range and the tails testing both extremes, the pair has carved a high-time-frame equilibrium that will likely resolve on a monthly close through either $0.26633 or a breakdown back toward $0.10879.

What Needs To Happen Short-Term?
Kaleo’s intraday view isolates the path that could force that higher-time-frame decision. His 4-hour chart plots a descending trendline from the local high through successive lower highs, currently intersecting near the $0.20–$0.21 zone where DOGE is trading around $0.203–$0.204.

Dogecoin 4-hour chart analysis | Source: X @CryptoKaleo
A visible range volume profile shows a prominent node around $0.20–$0.21 and a conspicuous low-volume pocket above, running through the low-$0.20s toward a green supply band capped near $0.25. He describes “A LOT of thin air to fill from the market nuke a couple weeks back,” referencing the vertical liquidation that drove DOGE from the mid-$0.20s to sub-$0.12 in a single cascade before rebounding.

Related Reading: Is The Dogecoin Bull Run Over? Analyst Sees Echoes Of 2021

Technically, that setup is straightforward: reclaim the descending trendline and hold above the point-of-control zone around $0.20–$0.21, and price enters the low-resistance void toward the prior distribution near $0.24–$0.25. Fail the reclaim, and the red horizontal basing area around ~$0.19 becomes the immediate pivot, with the extreme downside reference from the “nuke” still visible near the mid-$0.15s before the monthly 0.786 at $0.10879 re-enters view.

The interplay between these charts is the crux. On the high time frame, $0.26633 is the “final boss” that has repeatedly turned price; on the low time frame, the route to re-test that wall starts with a squeeze through a low-volume corridor into $0.25. A decisive monthly close above $0.26633 would flip the market’s most consequential resistance into support and shift the conversation toward the 1.000 reference at $0.73905, but—per Cantonese Cat’s caution—that outcome isn’t confirmed by the current structure.

At press time, DOGE traded at $0.191.

DOGE remains above the trendline, 1-day chart | Source: DOGEUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com