Market Signal Briefing

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5
min read ▪ by
James G.

Summarize this article with:

Ethereum’s latest rally has once again lost momentum, with the cryptocurrency struggling to stay above the $4,000 mark. With weak demand and declining spot ETF inflows weighing on sentiment, analysts warn that Ether (ETH) could face a deeper correction toward $3,100 if buyers fail to regain control.

In brief

Ethereum fails to sustain above $4,000, triggering renewed selling pressure and caution among traders.
Analysts warn a drop toward $3,100 is possible if buyers can’t regain control near the critical $4K resistance zone.
Spot ETF outflows and weak buyer participation highlight fading market confidence in Ethereum’s short-term strength.
A breakout above $4,000–$4,300 could mark the start of a new bullish phase, with $5,000 as the next key target.

Ethereum Technicals Flash Warning as $4,000 Zone Triggers Renewed Sell-Offs
Ether slipped to around $3,800 on Tuesday, marking another failed attempt to hold above $4,000. The pullback follows continued net redemptions from spot Ethereum ETFs and a weakening technical setup signaling a potential move lower.

Ether climbed 16% from its recent low of $3,500, but selling pressure quickly built near the $4,000 psychological level. Market watchers observed that this area has consistently acted as a strong resistance point.

Trader Philakone noted that Ethereum continues to face strong resistance near the $4,000 mark—a level that previously triggered a major sell-off in December 2024, resulting in a 66% decline.

Ethereum Bulls Face Critical $4,000 Test as Analysts Eye Breakout Zone
Crypto commentator Daan Crypto Trades emphasized that bulls must push and hold the price above $4,000 to confirm a recovery. He explained that repeated failures to break higher could signal further weakness in the short to mid term.

Other market analysts also weighed in on the topic:

Daan Crypto Trades noted that a daily close above $4,000 could help Ethereum re-enter its previous trading range and move away from recent lows.
He pointed out that the key resistance zone around $4,000–$4,100 will likely see a strong battle between buyers and sellers.
Jas Crypto added that this level will determine whether the current pullback develops into a deeper correction or serves as a brief pause before the next upward move.
According to him, the asset could potentially reach $5,000 if the bulls successfully defend the $4,000 price level.

Analysts agree that a sustained breakout above the $4,000–$4,300 zone would be the first sign of a new bullish phase.

Buyer Fatigue Limits Upside Momentum
Despite several rebound attempts, Ether’s price remains capped below $4,000 as buying interest continues to fade. Data from spot exchanges show weak participation from new buyers—signaling that the recent recovery lacks conviction.

The spot volume delta, a metric measuring the balance between buying and selling volumes, remains negative across major exchanges. This indicates that selling activity still outweighs buying pressure, reducing the likelihood of a strong breakout in the near term.

ETF activity further reinforces this trend. Data from SoSoValue showed that spot Ethereum ETFs have recorded outflows in six of the past eight trading days. 

On Monday alone, Ether investment vehicles experienced $145.7 million in investor redemptions, bringing total outflows for the past week to $640.5 million. For sentiment to improve, ETF inflows and broader market demand must return. Without fresh buying momentum, analysts warn that any move above $4,000 could be short-lived.

Bear Flag Breakdown Points to $3,100 Target
From a technical perspective, Ether’s price action has formed a bearish continuation pattern known as a “bear flag” on the 12-hour chart. The pattern confirmed when ETH fell below the flag’s lower boundary at $4,000 on Tuesday, signaling a potential move lower.

Here are other key technicals and trends to note:

The bear flag pattern points to a potential downside target near $3,120, indicating a possible 20% drop from current prices.
The Relative Strength Index (RSI) remains below the neutral 50 level, showing that market momentum still favors sellers.
Some traders maintain a positive outlook, viewing the recent decline as a healthy correction within Ethereum’s broader uptrend.
Analyst Jelle suggested that ETH may be retesting the key breakout level around $4,000 before attempting to resume its upward momentum.

While short-term signals suggest further weakness, many investors are watching closely to see whether bulls can reclaim $4,000. A decisive recovery above this level could shift market sentiment and reignite the push toward $5,000. Until then, Ethereum remains in a delicate position, balancing between a possible rebound and the risk of another leg down toward $3,100.

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James G.

James Godstime is a crypto journalist and market analyst with over three years of experience in crypto, Web3, and finance. He simplifies complex and technical ideas to engage readers. Outside of work, he enjoys football and tennis, which he follows passionately.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Jito banned 15 validators due to evidence of sandwich attacks, using a more sophisticated 'wide sandwich' approach.

TL;DR

1inch has launched a unified platform that integrates multiple blockchains and liquidity sources into a single interface, aiming to make decentralized finance (DeFi) more accessible and intuitive for everyday users.
Co-founder Sergej Kunz believes fragmentation has been the biggest obstacle to DeFi adoption.
The platform introduces a streamlined, user-centric design that could reshape how people interact with digital assets across the ecosystem.

The decentralized finance landscape has long suffered from a lack of coherence. Users often find themselves juggling multiple wallets, networks, and liquidity pools just to perform basic actions. Now, 1inch aims to change that by introducing a single, unified platform that bridges these isolated systems into one seamless experience with enhanced accessibility for both new and experienced users.

Co-founder Sergej Kunz explained that decentralization was never the problem—complexity was. He argued that blockchain ecosystems have grown into isolated “islands,” making navigation confusing for newcomers.

“We built 1inch.com so that anyone, even without technical background, can intuitively exchange assets across different networks,” Kunz said in an interview.

Unified Access Across Chains
According to Kunz, the new platform integrates liquidity from Ethereum, BNB Chain, Polygon, and several other major blockchains. Users can execute swaps, staking, and yield strategies without manually switching networks. This means fewer errors, faster transactions, and a smoother learning curve for those entering decentralized finance for the first time.

He compared the experience to mainstream tech platforms known for their simplicity.

“Crypto should be as effortless as using a smartphone app,” Kunz emphasized.

By abstracting away technical friction, 1inch hopes to make DeFi more inclusive and ready for mass adoption. The platform also introduces improved portfolio management tools and real-time analytics to help users make smarter financial decisions.

The platform’s backend uses an advanced routing algorithm that automatically finds the best trade paths and minimizes gas costs. This innovation aligns with 1inch’s long-term mission to merge usability with efficiency, two aspects that have rarely coexisted in decentralized systems.

Building The Future Of DeFi
For Kunz, the unified experience is not just a convenience upgrade but a necessary step for DeFi to evolve. He envisions a future where users interact with decentralized products without needing to understand the underlying blockchain mechanics.

“It should just work,” he said.

Industry analysts view this move as a potential turning point. By consolidating access to liquidity and simplifying user interaction, 1inch could bring decentralized finance closer to mainstream relevance, reducing reliance on centralized exchanges and empowering users with true financial autonomy.

Summary

Solana price prediction: SOL trades near $183 as ETF optimism builds following Hong Kong’s approval.
Break above $200 could target $230–$300; failure below $175 risks a dip to $160.
The Solana forecast depends on whether spot-ETF inflows evolve from hype into real institutional demand.

Solana price trades near $183 as anticipation grows around potential spot-SOL ETF approvals following Hong Kong’s regulatory green light. The market is now weighing whether this institutional milestone could fuel the next leg of SOL’s rally toward $300.

Solana price market status
Solana price 1D chart | source: crypto.news
As of October 22, 2025, SOL trades around $183, down slightly from last week’s local high near $197. The broader market has cooled after a volatile period, but Solana remains one of the few large-cap assets showing relative strength. Investor attention has shifted to the ETF narrative after Hong Kong approved a spot Solana ETF, set to begin trading later this month.

The development has revived optimism that similar filings could emerge in the U.S., following the precedent of Bitcoin and Ethereum ETFs earlier in the year. Trading volumes for SOL have remained robust, while funding rates show mild long positioning. Key short-term support sits near $175–$178, with resistance around $195–$200.

Upside case for Solana price
If ETF demand materializes and global regulators continue approving Solana-linked products, institutional access could become a major tailwind. A decisive breakout above $200 would signal renewed bullish momentum, potentially targeting $230–$250 in the medium term and $280–$300 if flows persist.

The ETF narrative also reinforces Solana’s broader ecosystem strength: high transaction throughput, DeFi revival, and growing developer activity. Should these fundamentals align with fresh institutional inflows, SOL could outperform the broader altcoin complex through Q4.

Bear case for SOL
If ETF hype fades or inflows underwhelm, Solana could face renewed pressure. A failure to hold $175 risks a pullback toward $160–$165, particularly if macro sentiment turns risk-off or Bitcoin dominance rises. Regulatory uncertainty outside Hong Kong and liquidity drainage from DeFi protocols could also limit upside momentum.

Technically, losing the $170 handle would invalidate near-term bullish setups and shift focus back toward long-term consolidation.

Solana price prediction based on current levels
At its current level near $183, SOL sits at a critical juncture. A sustained close above $195–$200 would confirm bullish continuation, opening the door to $230–$250 and potentially $300 on strong ETF inflows. Conversely, rejection below $175 would signal exhaustion and could trigger a retest of $160 support.

Overall, the Solana outlook remains cautiously bullish. ETF momentum is creating structural support, but traders will want confirmation through sustained volume and capital rotation before calling for a full breakout.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

TL;DR

Total buyback volume in 2025 exceeded $1.4 billion, according to CoinGecko.
Hyperliquid (HYPE) dominated the activity, repurchasing $644 million, nearly 50% of the total.
Projects like LayerZero (ZRO) and Pump.fun (PUMP) also executed massive buybacks.

The cryptocurrency market is experiencing unprecedented token buyback activity in 2025, exceeding $1.4 billion in aggregate volume between January 1 and October 15. According to a new CoinGecko report, the main driver of this trend was the decentralized exchange Hyperliquid (HYPE).

The HYPE team repurchased $644 million of its own tokens on the open market, accounting for nearly 50% of all buyback activity recorded in the crypto ecosystem this year.

Hyperliquid is not alone in this strategy. The cross-chain communication protocol LayerZero (ZRO) positioned itself as the second-largest buyer, initiating over $150 million in buybacks following its anticipated airdrop. It is closely followed by Pump.fun (PUMP), the popular memecoin launcher on Solana, which spent $138 million to remove 3% of its total supply.

Other notable players in the Solana ecosystem, such as the DEXes Raydium (RAY) and Jupiter (JUP), were also active, accumulating over $160 million in combined buybacks.

The Strategy: Reduce Supply and Demonstrate Confidence
This buyback trend is used as a powerful financial tool to stabilize or boost an asset’s value. As the CoinGecko crypto buybacks report highlights, these coordinated purchases by the issuer reduce the circulating supply available on the market, making the asset verifiably scarcer and, therefore, potentially more valuable. Furthermore, buybacks act as a strong price catalyst, as they demonstrate the team’s own confidence in the project’s future and help absorb existing selling pressure.

A clear example of the impact of these actions was the recent case of Ethena (ENA), whose token outperformed the entire market after its founder purchased $25 million worth of ENA. Although GMX (GMX) ranks 11th by total volume, its strategy of repurchasing 13% of its circulating supply (often redistributed to the community) shows the profound impact these tactics have on tokenomics and investor confidence.

Aster price has fallen 14% in 24 hours to $0.995, breaking below the key $1 support level and extending its two-week-long bearish trend.The Chaikin Money Flow shows rising outflows, while the RSI below 50.0 confirms increasing selling pressure and weakening market demand.If the downtrend continues, Aster could fall to $0.883; however, reclaiming $1.174 resistance could trigger a rebound and invalidate the bearish outlook.Aster (ASTER) has extended its losing streak, falling 14% in the past 24 hours to trade below the key $1 mark. The altcoin has struggled to recover amid persistent market weakness and growing investor skepticism. 

The loss of this psychological support reinforces the ongoing downtrend that has dominated Aster’s price action for nearly two weeks.

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Aster Holders Are SellingThe Chaikin Money Flow (CMF) indicator continues to show a steady decline, signaling increasing outflows from Aster investors. This trend reflects growing uncertainty and a shift toward risk aversion as market participants withdraw funds to secure profits or limit potential losses. The weakening inflows highlight a lack of buying confidence in the asset.

Many holders remain cautious about Aster’s short-term prospects, unsure whether the altcoin can rebound. The resulting outflows have intensified the selling pressure, driving prices lower and undermining recovery efforts.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

ASTER CMF. Source: TradingViewFrom a technical standpoint, Aster’s broader momentum appears increasingly bearish. The Relative Strength Index (RSI) has slipped below the neutral 50.0 mark, suggesting weakening market demand and rising selling activity.

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This decline indicates that sellers are regaining control, reinforcing the ongoing downtrend in Aster’s market performance.

A bearish RSI typically signals the start of a more extended correction phase, especially when combined with declining inflows and weak volume support. This could exacerbate price pressure, making it harder for Aster to establish a stable recovery base in the near term.

ASTER RSI. Source: TradingViewASTER Price Downtrend DominatesAster’s price is currently trading at $0.995, maintaining a clear downtrend that has persisted for roughly two weeks. The continued inability to break above resistance levels highlights the growing dominance of sellers and fading buyer interest across key trading zones.

In the past 24 hours, Aster fell below the $1.000 threshold following a 14% drop triggered by its failure to breach the descending trendline. If this decline extends, the token could fall to the $0.883 support level, where further losses may occur if sentiment fails to improve.

ASTER Price Analysis. Source: TradingViewHowever, if buyers reenter the market and investor confidence returns, Aster could rebound from the $1.000 support zone. A successful bounce could allow the cryptocurrency to test resistance at $1.174, potentially breaking the prevailing downtrend.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

XRP (CRYPTO: XRP) is down 4% to $2.39 on Wednesday as traders brace for a potential breakdown below $2.30 — the final support before a deeper retracement that could erase months of gains.

Bearish Triangle Breakdown Threatens Further Losses

XRP Price Action (Source: TradingView)

XRP has broken below a long-term symmetrical triangle that had guided its range since mid-summer. 

The token failed to recover the 20-day and 50-day exponential moving averages, now clustering between $2.55 and $2.72. 

This rejection leaves momentum tilted lower, with repeated tests of the $2.30–$2.40 band signaling exhaustion among buyers.

The daily RSI sits at 38, confirming weak momentum and limited follow-through on rebounds. 

Unless the RSI turns higher toward the neutral 50 level, oversold signals are unlikely to deliver a sustainable recovery.

Whale Activity Fades As Exchange Outflows Dominate

XRP Spot Inflow/Outflow Data (Source: Coinglass)

On-chain data from Coinglass shows persistent net outflows through October, indicating that investors are moving tokens back to exchanges rather than accumulating. 

The most recent reading on Oct. 22 logged $7.43 million in outflows as XRP traded near $2.39.

The second half of October has been notably quiet, with no large inflow spikes to counter selling. 

That absence of whale or institutional accumulation contrasts with the mid-summer period when inflows helped trigger relief rallies. 

XRP Technical Levels To WatchImmediate resistance is stacked near $2.55 at the 20-day EMA, followed by $2.61 at the 200-day EMA and $2.75 at the 50-day EMA. 

Bulls need a decisive daily close above this cluster to shift near-term tone back toward neutral.

On the downside, $2.30 remains the final defense zone. 

A confirmed breakdown below that base opens targets around $1.90 and $1.60, which align with liquidity gaps and the lower boundary of the broader chart structure.

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XRP Transforms Into Global Banking BridgeAccording to Xaif Crypto, a leading Germany-based analyst has declared that XRP is no longer “just a coin.” The cryptocurrency, long recognized for its speed and efficiency in cross-border payments, is now being positioned as a foundational bridge layer for global banking. 

Therefore, this transformation signals a major shift in how financial institutions may leverage blockchain technology to streamline liquidity and payments.

At the heart of this evolution is Ripple’s GTreasury Management software. Already deployed in over 13,000 banks worldwide, GTreasury has established a proven track record in simplifying treasury operations, reducing settlement times, and enhancing liquidity management. 

The software’s widespread adoption has drawn attention from institutional players seeking reliable, scalable blockchain solutions.

Ripple’s $1B recent GTreasury acquisition accelerates its expansion, enhancing banks’ ability to manage digital assets while seamlessly connecting with traditional financial systems. 

As a result, the German analyst highlights XRP’s emerging role as a bridge between legacy banking and blockchain, promising faster, cheaper cross-border transactions.

The Fed’s Bold Move: Payment Accounts for Fintech and Crypto — A Game-Changer for $XRPAccording to renowned market analyst X Finance Bull, the Federal Reserve is exploring the creation of “payment accounts” for fintech and cryptocurrency firms. 

Therefore, this announcement is a seismic shift in the U.S. financial landscape, signaling that digital assets are no longer on the fringes, they are moving closer to the heart of the banking system.

Notably, the potential impact on XRP is huge. As Ripple’s native asset and a proven bridge between traditional finance and blockchain, XRP stands to play a pivotal role if the Fed integrates fintech and crypto into U.S. payments. 

As a result, X Finance Bull views this as a key inflection point, XRP could evolve from a high-speed settlement token into a central pillar of the U.S. banking system.

Furthermore, the analyst calls this “super bullish for $XRP.” As XRP bridges traditional banking and crypto networks, digital assets are shifting from speculative investments to essential financial tools. Ripple stands to gain institutional demand, stronger liquidity, and greater regulatory influence, key drivers of market momentum.

ConclusionWith widespread adoption in thousands of banks, strategic acquisitions, and a strong focus on regulatory compliance, XRP is set to become the essential bridge linking traditional finance with blockchain’s speed, efficiency, and transparency.

On the other hand, the Fed’s exploration of payment accounts for fintech and crypto firms signals a historic shift in U.S. finance. For XRP, this isn’t just bullish, it positions the token as a key bridge linking traditional banking with the digital economy.

BNB price is off intraday lows as Binance Coin reacts to major news of its listing on Robinhood.

Summary

BNB traded off lows of $1,054 as the crypto community reacted to news of Robinhood listing.
Coinbase also announced support for the Binance coin, with BNB/USD trading pair set to go live.
The price of Binance coin hovered at $1,076

Robinhood has officially listed Binance’s native token, adding spot trading for one of the outstanding performers in the crypto market this cycle.

The move to add spot trading support for the exchange token comes amid a similar decision by Coinbase. The U.S.-based crypto exchange will add trading for the fourth ranked cryptocurrency by market on the BNB Smart Chain, with the BNB/USD pair going live once liquidity conditions are met.

Coinbase says trading for the token will be available in supported regions and jurisdictions.

BNB price today: What’s the reaction?
As the popular trading app announced support, the price of BNB (BNB) hovered around $1,054.

The altcoin was down more than 3% amid a broader market downturn. However, after the development, BNB inched up to highs of $1,096 and looked poised for a bullish flip. If the reaction strengthens on the bulls’ side, the token’s value could pop above $1,110.

BNB price chart. Source: crypto.news
Notably, Binance coin’s uptick in the past several months saw it hit the all-time high of $1,370.

Binance rival lists BNB – a new dawn?
Robinhood and Coinbase’s moves contrast sharply with the sentiment that has largely dominated the market: that centralized crypto exchanges have so far largely shunned tokens by rivals.

Earlier this month, Changpeng Zhao, founder and former CEO of Binance, pointed this out via X. It’s a scenario that followed accusations from across the industry that Binance continues to monetize token listings and does not list competitor tokens.

The listing news attracted commentary from CZ, who had earlier defended Binance and noted that the exchange has listed multiple Base tokens. Coinbase should take a similar step, CZ said via X on Oct. 16, 2025.

Moreover, I would urge Coinbase to list more @BNBChain projects. @Binance has listed several Base projects. Don't think Coinbase has listed a single @BNBChain project yet. And it's a more active chain.

Not a trade. Just recommending, given we are on the topic of being open,… https://t.co/16WkVUM6Om

— CZ 🔶 BNB (@cz_binance) October 16, 2025

BNB price remains near $1,076, down 1.5% in the past 24 hours.

Winnebago Industries, Inc. (NYSE:WGO) Q4 2025 Earnings Call October 22, 2025 10:00 AM EDT

Company Participants

Raymond Posadas - Vice President of Investor Relations & Market Intelligence
Michael Happe - CEO, President & Director
Bryan Hughes - SVP of Investor Relations, Finance, Information Technology and Business Development & CFO

Conference Call Participants

Scott Stember - ROTH Capital Partners, LLC, Research Division
James Hardiman - Citigroup Inc., Research Division
Craig Kennison - Robert W. Baird & Co. Incorporated, Research Division
Joseph Altobello - Raymond James & Associates, Inc., Research Division
Patrick Buckley - Jefferies LLC, Research Division
Charles Scholes - Truist Securities, Inc., Research Division
Noah Zatzkin - KeyBanc Capital Markets Inc., Research Division

Presentation

Operator

Welcome to Winnebago Industries Q4 and fiscal 2025 Financial Results 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, Raymond Posadas, Vice President of Investor Relations and Market Intelligence. Please go ahead, sir.

Raymond Posadas
Vice President of Investor Relations & Market Intelligence

Thank you, Towanda. Good morning, everyone, and thank you for joining us to discuss our fiscal 2025 fourth quarter and full year earnings results. This call is being broadcast live on our website at investor.wgo.net, and the replay of the call will be available on our website later today. The news release with our fourth quarter and fiscal 2025 results was issued and posted to our website earlier this morning. Please note that the earnings slide deck that follows along with our prepared remarks, is also available on the Investors section of our website under quarterly results.

Turning to Slide 2. Certain statements made during today's conference call regarding Winnebago Industries and its operations may be considered forward-looking statements under securities laws. The company cautions you that forward-looking statements involve a number

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Q3: 2025-10-21 Earnings SummaryEPS of $0.86 beats by $0.14

 |

Revenue of

$51.43M

(15.52% Y/Y)

beats by $368.40K

SmartFinancial, Inc. (NYSE:SMBK) Q3 2025 Earnings Call October 22, 2025 10:00 AM EDT

Company Participants

Nathan Strall - Head of Investor Relations
William Carroll - President, CEO & Director
Ronald Gorczynski - Executive VP & CFO
Wesley Welborn

Conference Call Participants

Brett Rabatin - Hovde Group, LLC, Research Division
Russell Elliott Gunther - Stephens Inc., Research Division
Catherine Mealor - Keefe, Bruyette, & Woods, Inc., Research Division
Stephen Moss - Raymond James & Associates, Inc., Research Division
Stephen Scouten - Piper Sandler & Co., Research Division

Presentation

Operator

Hello, everyone, and welcome to the SmartFinancial Third Quarter 2025 Earnings Release and Conference Call. My name is Ezra, and I will be your coordinator today. [Operator Instructions] We will be taking questions at the end of the presentation.

I will now hand you over to Nate Strall, Director of Investor Relations, to begin. Please go ahead.

Nathan Strall
Head of Investor Relations

Thanks, Ezra. Good morning, everyone, and thank you for joining us for SmartFinancial's Third Quarter 2025 Earnings Conference Call. During today's call, we will reference the slides and press release that are available in the Investor Relations section on our website, smartbank.com. Billy Carroll, our President and Chief Executive Officer, will begin our call, followed by Ron Gorczynski, our Chief Financial Officer, who will provide some comments and some additional commentary. We will be available to answer your questions at the end of the call.

Our comments include forward-looking statements. These statements are subject to risks and uncertainties, and the actual results could vary materially. We list the factors that might cause these results to differ materially in our press release and in our SEC filings, which are available on our website. We do not assume any obligation to update any forward-looking statements because of new information, early developments or otherwise, except as may be required by law.

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Wedbush analysts believe Microsoft Corp (NASDAQ:MSFT) has a “comfortable” lead in the AI revolution and expects the tech giant’s upcoming fiscal first quarter 2026 earnings and outlook to be “robust”.  

In a note to clients on Wednesday, the analysts stated that Microsoft’s stock, in their opinion, has yet to price in the next wave of Cloud and AI growth, given what they called the company’s strong competitive Cloud edge over Amazon and Google. 

“Our thesis remains that the Coud and AI monetization is going to comprise a larger piece of (Microsoft) going forward and will ultimately spur growth and margins over the coming years," the analysts wrote. 

They maintained their ‘Outperform’ rating and $625 per share target price on the stock, viewing Microsoft as being in the midst of hitting its next phase of AI monetization.  

Also weighing in on Microsoft's pending results were UBS analysts, who believe the company’s near-term catalysts “appear to be compelling”.  

These include the potential for Azure growth to exceed the high end of the guidance range of 37%, the ability of Microsoft to protect its earning per share with cost control measures, the pending announcement of the revised Microsoft-OpenAI partnership agreement as well as the potential for a large OpenAI-Microsoft deal. 

The analysts at UBS reiterated their 'Buy’ rating and $650 per share target price on Microsoft stock. 

Microsoft shares rose 1% to $522.80 in midday trading on Wednesday.   

San Rafael, CA, Oct. 22, 2025 (GLOBE NEWSWIRE) -- LRE & Co is pleased to announce that Dutch Bros has signed a lease for a new build-to-suit location at 3580 E Bidwell Drive in Folsom, California. The new drive-thru coffee shop is expected to open in the second quarter of 2026.

The 986-square-foot facility will include Dutch Bros' signature dual drive-thru lanes, capable of lining up to 20 vehicles, along with walk-up service windows to manage the anticipated high traffic at this prime Folsom location. The site has secured the necessary entitlements and is advancing through the final planning stages.

"We are excited to bring Dutch Bros to the Folsom community," said Akki Patel, CEO at LRE & Co. "Dutch Bros has been an exceptional partner to work with and represents a best-in-class brand in the specialty coffee sector. Their demonstrated success in Northern California, combined with Folsom's strong demographics and thriving retail environment, creates an ideal scenario for long-term success. We're confident this location will serve as an excellent addition to the East Bidwell Drive corridor."

As part of the build-to-suit arrangement, LRE & Co will oversee all aspects of construction for the new facility. The development team is currently finalizing the architecture and engineering contracts, with construction expected to begin after the permits are approved.

This Folsom location highlights Dutch Bros' ongoing expansion in the Sacramento area, building on its existing presence in Northern California, which includes an open and operational location in Vallejo.

Dutch Bros is known for its energetic culture and commitment to community involvement. It is also one of the fastest-growing quick-service beverage brands in the U.S., recently surpassing the 1,000-store mark across 18 states. The company has built a loyal following through its high-quality drinks, personalized service, secret menu, and dedication to supporting local communities.

Dutch Bros at Folsom, CA.

Dutch Bros at Folsom, CA.
Dutch Bros at Folsom, CA.

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.

Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.

Headquartered in Portsmouth, TowneBank (TOWN - Free Report) is a Finance stock that has seen a price change of -1.5% so far this year. The community bank is paying out a dividend of $0.27 per share at the moment, with a dividend yield of 3.22% compared to the Banks - Southeast industry's yield of 2.36% and the S&P 500's yield of 1.48%.

Looking at dividend growth, the company's current annualized dividend of $1.08 is up 8% from last year. Over the last 5 years, TowneBank has increased its dividend 4 times on a year-over-year basis for an average annual increase of 8.72%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. TowneBank's current payout ratio is 41%, meaning it paid out 41% of its trailing 12-month EPS as dividend.

TOWN is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2025 is $2.93 per share, with earnings expected to increase 34.40% from the year ago period.

Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. It's important to keep in mind that not all companies provide a quarterly payout.

For instance, it's a rare occurrence when a tech start-up or big growth business offers its shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, TOWN is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).

Key Takeaways Netflix Q3 earnings miss estimates due to $619M Brazilian tax dispute, shares fall 5-7% after hours.NFLX posts record advertising quarter, on track to more than double ad revenues in 2025 despite miss.KPop Demon Hunters becomes most-watched Netflix film ever with 325M views, drives merchandise deals.
Netflix (NFLX - Free Report) reported third-quarter 2025 earnings of $5.87 per share, which missed the Zacks Consensus Estimate by 14.8%. The shortfall was primarily attributed to a one-time $619 million expense related to an ongoing dispute with Brazilian tax authorities. The figure increased 8.7% from the year-ago quarter's $5.40 per share.

Netflix shares fell approximately 5-7% in after-hours trading following the earnings release, primarily due to the significant earnings per share miss. Despite the after-hours decline, Netflix has gained more than 48.6% over the past year, reflecting the company's strong operational performance, successful content strategy, and expanding advertising business.

Revenues increased 17.2% year over year (17% on a foreign exchange neutral basis), driven primarily by membership growth, higher subscription pricing, and increased advertising revenues. The figure missed the consensus mark by 0.12%.

The company emphasized that, absent the Brazilian tax expense, it would have exceeded its third-quarter operating margin forecast. Netflix stated that it does not expect this matter to have a material impact on future results. The Brazilian tax involves a 10% levy on certain payments made by Brazilian entities to operations outside the country.

Netflix moved away from reporting specific subscriber count, starting with the first quarter of 2025, preferring instead to focus on financial metrics and user engagement. While tech giants like Apple (AAPL - Free Report) and Amazon (AMZN - Free Report) do not reveal subscriber figures for their respective streaming services, other media companies do. Disney (DIS - Free Report) separately breaks out Disney+, Hulu and ESPN+ figures.

Record Engagement Fuels Growth Despite Operating Margin MissDespite the earnings miss, Netflix delivered a strong operational performance in the third quarter. The company achieved its highest quarterly viewing share ever in both the United States and the United Kingdom, with total viewing hours growing faster in the third quarter than in the first half of 2025.

All regions experienced healthy year-over-year revenue growth. UCAN (United States and Canada) revenue increased 17% year over year to approximately $5.07 billion, EMEA (Europe, Middle East and Africa) grew 18% to $3.7 billion, Latin America rose 10% to $1.37 billion, and Asia-Pacific surged 21% to $1.37 billion.

Operating income totaled $3.25 billion, up 12% year over year, but operating margin came in at 28%, significantly below the company's guidance of 31.5% due to the Brazilian tax dispute. Without this one-time expense, Netflix indicated that it would have exceeded its operating margin forecast.

Marketing expenses increased 22.3% year over year to $786.3 million. As a percentage of revenues, marketing expenses expanded 30 basis points (bps) on a year-over-year basis to 6.8%. Technology and development expenses increased 16.1% year over year to $853.6 million. As a percentage of revenues, technology and development expenses contracted 10 basis points (bps) on a year-over-year basis to 7.4%. General and administration expenses increased 9.7% year over year to $457.9 million. As a percentage of revenues, general and administration expenses contracted 30 bps on a year-over-year basis to 4%.

KPop Demon Hunters Becomes Cultural PhenomenonThe third quarter was dominated by the unprecedented success of the animated musical film KPop Demon Hunters, which has become Netflix's most-watched film of all time with more than 325 million views. The film, which premiered on June 20, 2025, has remained on Netflix's Global Top 10 list for 15 consecutive weeks through the third quarter, an unprecedented run for any title on the platform.

The film's impact extended beyond streaming, with a limited theatrical sing-along event in late August generating $17-$18 million in a single weekend across the United States, Canada, Australia, New Zealand, and the United Kingdom. The sing-along version was subsequently released on the platform on Aug. 25, further boosting viewership.

In an unprecedented cultural crossover, HUNTR/X, the fictional K-pop girl group at the center of KPop Demon Hunters, saw their single "Golden" reach No. 1 on the Billboard Hot 100 chart, marking a significant milestone. The film's success prompted Netflix to announce dual product partnerships with leading toy companies Hasbro and Mattel, with dolls, plush, roleplay items, and themed games slated for retail release in spring 2026.

Strong Second-Half Content Slate Drives ViewershipNetflix delivered a robust content slate in the third quarter, led by the highly anticipated return of Wednesday Season 2, which premiered on Aug. 6 with 13.4 million views in its first week. Part 2 of the season was released on Sept. 3. The series has accumulated 107 million views to date, placing it at No. 7 on Netflix's all-time list for English-language TV shows, though it still trails the first season's record-breaking 252.1 million views.

Other successful third-quarter releases included the cooking competition series Bon Appétit, the South Korean drama Your Majesty, and Happy Gilmore 2 starring Adam Sandler, which generated 14.7 million views and delighted audiences with the return of the beloved comedy character.

International content continued to perform strongly, with the British political thriller Hostage starring Julie Delpy and Corey Mylchreest generating 10.8 million views. The romantic drama My Oxford Year, also starring Mylchreest alongside Sofia Carson, attracted 5.9 million views.

Live Programming Achieves Major MilestoneThis Zacks Rank #3 (Hold) company scored a significant success in live programming with the broadcast of the Canelo vs. Crawford boxing match on Sept. 13, which topped the weekly TV list with 17.7 million views. The fight scored an estimated average minute audience of 36.6 million global viewers, making it the most-viewed men's championship boxing match of the 21st century. The event marked another win for Netflix's expansion into live sports programming. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Advertising Business Surges to Record HeightsNetflix recorded its best advertising sales quarter ever in the third quarter, with the company on track to more than double ad revenues in 2025, albeit from a relatively small base. The company doubled its upfront commitments in the United States during the quarter.

Co-CEO Greg Peters highlighted the company's progress in advertising technology, noting that in the fourth quarter, Netflix is using AI to test new ad formats "to generate the most relevant ad creative and placement for members, and for faster development of media plans." The company stated that these advancements will enable it to test, iterate, and innovate on dozens of ad formats by 2026.

Netflix also announced a partnership with Spotify to bring a select number of podcasts from Spotify Studios and The Ringer to Netflix's platform, further expanding its content offerings.

Netflix Declares All In on AI IntegrationNetflix declared itself "all in" on leveraging generative AI across its streaming platform during the third-quarter earnings discussion. The company emphasized that machine learning and AI have been powering title recommendations, production, and promotion technology for years, with generative AI presenting a significant opportunity across recommendations, advertising, and content creation. Earlier in 2025, Netflix used generative AI for the first time in final footage in the Argentine series The Eternaut, completing a building collapse sequence 10 times faster than traditional visual effects methods would have allowed.

Netflix provided concrete examples of AI implementation in recent productions: Happy Gilmore 2 used AI to de-age characters, while the upcoming series Billionaires' Bunker utilized AI in pre-production to design wardrobes and sets.

The company's embrace of AI extends beyond content creation. As previously noted, Netflix is using AI in its advertising business to test new ad formats, generate relevant ad creative and placement for members, and accelerate the development of media plans. The company has also been expanding its use of AI for personalization and search functionality, with multiple job listings indicating a focus on leveraging large language models for content discovery and recommendations.

Balance Sheet & Cash FlowNetflix had cash and cash equivalents as of Sept. 30, 2025, compared with $8.17 billion as of June 30, 2025.

Total debt was $14.46 billion as of Sept. 30, 2025, slightly below $14.5 billion as of the end of the previous quarter.

Streaming content obligations were $20.94 billion as of Sept. 30, 2025, compared with $20.96 billion as of June 30, 2025.

Netflix reported non-GAAP free cash flow of $2.66 billion compared with $2.26 billion in the previous quarter. This reflects improved operational efficiency and strong cash generation capabilities.

Net cash generated from operating activities in the third quarter was $2.82 billion compared with $2.32 billion in the prior-year period.

During the quarter, Netflix continued its capital allocation strategy, repurchasing shares under its existing $12 billion share repurchase authorization. The company established a commercial paper program in May 2025, providing enhanced flexibility with the ability to issue short-term, unsecured notes up to $3 billion.

Strong Q4 and Full-Year 2025 OutlookFor the fourth quarter of 2025, Netflix expects revenues of $11.96 billion, indicating growth of 16.7% year over year (16% on a foreign exchange neutral basis). Revenues are expected to be driven by continued growth in members, pricing adjustments, and advertising revenues.

The company projects fourth-quarter earnings per share of $5.45. Operating margin guidance for the fourth quarter is 23.9%, representing a two percentage point year-over-year improvement.

For full-year 2025, Netflix now expects revenues of $45.1 billion, representing 16% growth year over year (17% on a foreign exchange neutral basis). This is in line with the company's previous guidance range of $44.8-$45.2 billion. The company has adjusted its full-year operating margin forecast to 29% from the prior 30% projection, reflecting the impact of the Brazilian tax matter.

Netflix has increased its full-year 2025 free cash flow forecast to approximately $9 billion (plus or minus a few hundred million dollars), up from the prior forecast of $8.0-$8.5 billion. The improved forecast reflects the timing of cash payments and lower content spend.

Q4 Content Slate Features Major FranchisesNetflix's fourth-quarter 2025 slate features the highly anticipated fifth and final season of Stranger Things, along with new seasons of The Diplomat and Nobody Wants This. The platform will also release major film titles, including Guillermo del Toro's Frankenstein and Rian Johnson's Wake Up Dead Man: A Knives Out Mystery.

The unscripted lineup includes season 9 of Love is Blind, Building the Band, America's Team: The Gambler and His Cowboys, and a documentary about Victoria Beckham.

Netflix continues to expand its live programming strategy with the highly anticipated NFL Christmas Day doubleheader, featuring divisional matchups between the Dallas Cowboys vs. Washington Commanders and Detroit Lions vs. Minnesota Vikings. This represents a significant expansion of Netflix's live sports offerings as the company seeks to drive engagement during the holiday season.

HomeMarketsU.S. & CanadaThe TellThe TellThe thinking behind this year’s ‘debasement trade’ is failing to hold upPublished: Oct. 22, 2025 at 12:47 p.m. ET

Gold prices were falling for a second day on Wednesday as skepticism swirled around the precious metal’s role as a hedge against the dollar in one of 2025’s most popular trades.

That strategy, known as the debasement trade, is premised on the view that the U.S. dollar’s value is poised to deteriorate, prompting investors to rely on gold as an alternative asset. For now, though, the thinking behind the debasement trade is failing to hold up, according to Marc Chandler, chief market strategist and managing director at Bannockburn Capital Markets. By almost every metric, the dollar remains overvalued relative to other currencies, he said.

About the Author

Vivien Lou Chen is a Markets Reporter for MarketWatch. You can follow her on Twitter @vivienlouchen.

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GE Vernova CEO Scott Strazik said he has had conversations with OpenAI CEO Sam Altman multiple times over the past few weeks as power scarcity remains a challenge and opportunity for hypescalers.

"I met with Sam multiple times over the past few weeks. It is a relationship that continues to evolve," Strazik told CNBC in a phone interview Wednesday, following the release of the company's third-quarter results. "I've been with his team over the last 72 hours. Clearly, OpenAI is a critical piece of this growth trajectory with a lot of ambition."

Strazik said the talks have focused on OpenAI's power needs, "both with power generation and the electrical equipment required to do it."

GE Vernova shares fell about 6% on Wednesday. The company's third-quarter results topped expectations, helped by a 55% increase in power equipment orders. However, the company didn't raise its 2025 forecast, disappointing some investors. Also, onshore wind remains soft, but analysts say that was largely expected due to ongoing regulatory hurdles.

Melius Research analyst Rob Wertheimer told CNBC there was nothing negative in this report.

The "bar was set high," he said, noting that GE Vernova shares have doubled over the past year.

Wall Street remains optimistic about GE Vernova capitalizing on growing demand from big tech. According to LSEG, the average analyst price target is $658, or about 20% higher than where the stock is trading now.

Stock Chart IconStock chart icon

GE Vernova shares year to date

The company has quickly become the key power equipment provider to every major hyperscaler including OpenAI, Oracle, Nvidia, Google, XAI, according to people familiar to the situation.

According to Strazik, $900 million in electrical equipment orders have come from the hyperscalers year to date versus $600 million in orders in all of 2024.

"When we add in Q4 orders, our electric equipment orders will be directionally double with them [hyperscalers]," Strazik said.

Analysts say some of the key challenges GE Vernova is facing right now are capacity constraints, evolving tariff policy and regulations that have slowed down orders for onshore wind turbines.

GE Vernova is mostly sold out of its power generation equipment through 2028, Strazik said.

The company has ballparked $300 million to $400 million in tariff-related costs this year. At the company's upcoming investor day in early November, Strazik is expected to detail more forward looking numbers.

The company also has $8 billion of cash and no debt, which means it's keeping an eye out for opportunities, Strazik said.

On Tuesday, GE Vernova said it would buy the 50% it didn't already own in transformer manufacturer Prolec GE for more than $5 billion. Transformers are key to increasing power voltage to accelerate transportation of electricity.

Key Takeaways IBM partners with Groq to integrate GroqCloud inference tech into watsonx Orchestrate.The move enables faster, cost-efficient AI performance and supports multiple enterprise use cases.IBM plans to enhance Red Hat vLLM and Granite models to strengthen its agentic AI ecosystem.
International Business Machines Corporation (IBM - Free Report) recently announced that it has entered into a partnership with Groq, which specializes in fast and affordable inference infrastructure that efficiently powers AI models. Groq’s Language Processing Units (LPUs), trusted by millions of clients worldwide, can deliver over five times faster and more cost-efficient inference compared to legacy GPU systems. In the current partnership, IBM is set to integrate Groq's inference technology, GroqCloud, on watsonx Orchestrate.

This will allow IBM watsonx clients to tap into high-speed and high-performance inference, which will allow users to capitalize on the complete potential of AI models and accelerate agentic AI deployment. The solution will ensure compliance with strict regulatory and security requirements. It will offer flexibility to purpose-built agentic AI for diverse applications. The expanded capabilities are expected to support several use cases such as customer care, employee support and productivity enhancement.

IBM also aims to integrate Groq LPU architecture into its Red Hat open source vLLM technology and also enhance IBM Granite models. The collaboration aims to address critical challenges related to speed, cost and reliability of AI agent adoption in major sectors like healthcare, finance, government, retail and manufacturing.

Per a Mordor Intelligence report, the Agentic AI market is expected to witness a 43.61% compound annual growth rate between 2025 and 2030. IBM, with its AI technology platform watsonx, intends to capitalize on this market trend.

Other Tech Firms Focusing on Agentic AI DeploymentServiceNow (NOW - Free Report) is extensively investing in integrating AI and machine learning capabilities across its product suite. The company recently introduced AI experience, which includes AI Voice Agents, AI Web Agents, AI Data Explorer and AI Lens. These advancements have significantly bolstered ServiceNow’s AI platform and boosted commercial prospects. ServiceNow AI platform gives clients the freedom to choose from its large language models or use models from third-party providers. Its extensive partner base includes Microsoft, Amazon and Snowflake.

Microsoft Corporation (MSFT - Free Report) is placing strong emphasis on AI infrastructure development. The company has introduced  Azure AI Foundry, a comprehensive platform engineered to design and manage AI applications and agents. Microsoft agent services gained significant momentum with 14,000 customers creating automated solutions. It has also launched leading-edge features, including group-level agents in Teams for real-time translation and meeting facilitation. Microsoft clients have created 3 million custom agents utilizing SharePoint and Copilot Studio.

IBM’s Price Performance, Valuation and EstimatesIBM stock has surged 23% over the past year compared with the industry’s growth of 48.6%.

Image Source: Zacks Investment Research

Going by the price/earnings ratio, IBM’s shares currently trade at 23.92 forward earnings, above 23.84.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for IBM’s earnings for 2025 has risen over the past 30 days.

Image Source: Zacks Investment Research

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

LOS ANGELES, Oct. 22, 2025 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP reminds investors of the upcoming November 18, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Quanex Building Products Corporation (“Quanex” or the “Company”) (NYSE: NX) securities between December 12, 2024 and September 5, 2025, inclusive (the “Class Period”).

IF YOU SUFFERED A LOSS ON YOUR QUANEX INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?
On September 4, 2025, after the market closed, Quanex announced financial results for the third quarter of the 2025 fiscal year. Among other things, the Company disclosed “operational issues related to the legacy Tyman window and door hardware business in Mexico that are ongoing” which “impacted results more than expected during the third quarter of 2025.” Specifically, the Company reported a diluted EPS of ($6.04), compared to $0.77 in the prior year period and an adjusted EBIDTA of $70.30. The Company further disclosed that it was “adjusting for lower expected volumes and pushing out the timing of when [it] expect[s] to realize procurement savings” from the integration of the Tyman business.

Then, on September 5, 2025, the Company held an earnings call pursuant to the Company’s third quarter 2025 financial results. During the earnings call, Chief Executive Officer, George Wilson (“Wilson”) explained “operational challenges” in the Tyman facility in Mexico “negatively impacted EBITDA in the Hardware Solutions segment by almost $5 million in the third quarter alone.” Wilson further explained that the issue was previously “identified midyear” as it got “deeper into the integration” with Tyman, and described how the systems used to “anticipate and plan for tooling repairs” were significantly deficient, indicating it was near “nonexistent.” Wilson stated because Quanex was “underinvested” in “the tooling condition and the equipment condition” it “had to make some changes and fix some things before it was catastrophic.”

On this news, Quanex’s stock price fell $2.73, or 13.1%, to close at $18.18 per share on September 5, 2025, on unusually heavy trading volume. The stock price continued to decline on the subsequent trading day, falling $1.98 or 10.9%, to close at $16.20 per share on September 8, 2025, on unusually heavy trading volume.

What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company’s procedures and policies regarding tooling and equipment maintenance in its Tyman Mexico facility were significantly “underinvested”; (2) as a result, the Company’s tooling and equipment conditions had significantly degraded to near “catastrophic” levels; (3) that, as a result of the foregoing, the Company was likely to incur significant costs, “pushing out the timing” of expected benefits from the Tyman integration; (4) that Quanex had previously identified the foregoing issues; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired Quanex securities during the Class Period, you may move the Court no later than November 18, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email:  [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us:
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: [email protected]
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.

Stifel Financial Corp. (NYSE:SF) Q3 2025 Earnings Call October 22, 2025 9:30 AM EDT

Company Participants

Joel Jeffrey - Senior Vice President of Investor relations
Ronald J. Kruszewski - Chairman & CEO
James Marischen - Senior VP & CFO

Conference Call Participants

Devin Ryan - Citizens JMP Securities, LLC, Research Division
William Katz - TD Cowen, Research Division
Steven Chubak - Wolfe Research, LLC
Brennan Hawken - BMO Capital Markets Equity Research
Y. Cho - JPMorgan Chase & Co, Research Division

Presentation

Operator

Good day, and welcome to the Stifel Financial Third Quarter 2025 Financial Results Conference Call. Today's conference is being recorded.

At this time, I'd like to turn the conference over to Joel Jeffrey, Head of Investor Relations. Please go ahead.

Joel Jeffrey
Senior Vice President of Investor relations

Thank you, operator. Good morning, and welcome to Stifel Financial's Third Quarter 2025 Earnings Call. On behalf of Stifel Financial Corp., I will begin the call with the following information and disclaimers. This call is being recorded. During today's presentation, we will refer to our earnings release and financial supplement, copies of which are available at stifel.com.

Today's presentation may include forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially. Stifel Financial Corp. does not undertake to update the forward-looking statements in this discussion. Please refer to our notices regarding forward-looking statements and non-GAAP measures that appear in our earnings release.

I will now turn the call over to our Chairman and Chief Executive Officer, Ron Kruszewski.

Ronald J. Kruszewski
Chairman & CEO

Thanks, Joel, and good morning, everyone. Stifel delivered another record quarter, once again demonstrating the strength of our diversified business model and the leverage it provides in an improving environment. In my nearly 30 years as CEO, Stifel has grown from a regional firm to a global company by

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Q3: 2025-10-21 Earnings SummaryEPS of $0.55 beats by $0.05

 |

Revenue of

$334.61M

(5.33% Y/Y)

beats by $2.66M

Fulton Financial Corporation (NASDAQ:FULT) Q3 2025 Earnings Call October 22, 2025 10:00 AM EDT

Company Participants

Matthew Jozwiak - Senior VP, Director of Investor Relations & Corporate Development and Senior VP of FP&A
Curtis Myers - CEO & Chairman
Richard Kraemer - Senior EVP & CFO

Conference Call Participants

Daniel Tamayo - Raymond James & Associates, Inc., Research Division
Casey Haire - Autonomous Research Limited
Christopher Marinac - Janney Montgomery Scott LLC, Research Division
Matthew Breese - Stephens Inc., Research Division
David Konrad - Keefe, Bruyette, & Woods, Inc., Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to the Fulton Financial Third Quarter 2025 Results 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, Matt Jozwiak, Director of Investor Relations. Please go ahead.

Matthew Jozwiak
Senior VP, Director of Investor Relations & Corporate Development and Senior VP of FP&A

Good morning, and thanks for joining us for Fulton Financial's conference call and webcast to discuss our earnings for the third quarter ending September 30, 2025. Your host for today's conference call is Curt Myers, Chairman and Chief Executive Officer. Joining Curt is Rick Kraemer, Chief Financial Officer.

Our comments today will refer to the financial information and related slide presentation included with our earnings announcement, which we released yesterday afternoon. These documents can be found on our website at fult.com by clicking on Investor Relations and then on News. The slides can also be found on the Presentations page under Investor Relations on our website.

On this call, representatives of Fulton may make forward-looking statements with respect to Fulton's financial condition, results of operations and business. These statements are not guarantees of future performance or subject to risks, uncertainties and other factors, and actual results could differ

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Applied Digital (NASDAQ:APLD) announced a lease agreement valued at approximately $5 billion with a US-based investment-grade hyperscaler for its upcoming Polaris Forge 2 Campus near Harwood, North Dakota.

The 15-year agreement covers 200 megawatts (MW) of critical IT capacity designed to support artificial intelligence (AI) and high-performance computing (HPC) infrastructure.

The tenant also holds a first right of refusal to expand by up to 800 MW, representing the full 1-gigawatt (GW) potential of the Polaris Forge 2 site.

With this latest deal, Applied Digital’s total leased capacity with two of the world’s largest hyperscalers across its Polaris Forge 1 and 2 campuses has reached 600 MW.

Polaris Forge 2 spans more than 900 acres and is being built with sustainability goals, including a targeted power usage effectiveness (PUE) of 1.18 and near-zero water use.

Construction is expected to begin in 2026, with phased capacity coming online through 2027.

“The real constraint in this industry is execution, and our team continues to prove that large-scale, next-generation data centers can be designed, financed, and brought online faster and more efficiently than anyone thought possible,” Applied Digital CEO Wes Cummins said in a statement.

“We believe Polaris Forge 2 builds on that momentum, reflecting the strength of our partnerships and the speed at which we’re reshaping the AI infrastructure landscape.”

Analysts at Wedbush believe the deal supports their bullish view of the AI sector.

“We see the plethora of newsflow around hyperscale deals with 3rd parties to secure incremental capacity as signaling the robust nature of current AI demand with benefits spanning the breadth of our hardware coverage,” the analysts wrote.

The long-term investment appeared to spook investors, with shares of Applied Digital falling almost 8% on the announcement.  

Analyst’s Disclosure:I/we have a beneficial long position in the shares of ECG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

SSAB AB (publ) (OTCPK:SSAAY) Q3 2025 Earnings Call October 22, 2025 4:00 AM EDT

Company Participants

Per Hillström - Head of Investor Relations
Johnny Sjöström - President & CEO
Leena Craelius - CFO & Executive VP

Conference Call Participants

Kaleb Solomon - SEB, Research Division
Anders Akerblom - Nordea Markets, Research Division
Tom Zhang - Barclays Bank PLC, Research Division
Tristan Gresser - BNP Paribas Exane, Research Division
Alain Gabriel - Morgan Stanley, Research Division
Dominic O'Kane - JPMorgan Chase & Co, Research Division
Cole Hathorn - Jefferies LLC, Research Division
Andrew Jones - UBS Investment Bank, Research Division
Bastian Synagowitz - Deutsche Bank AG, Research Division
Boris Bourdet - Kepler Cheuvreux, Research Division

Presentation

Per Hillström
Head of Investor Relations

Good morning, and welcome to this presentation of the SSAB Q3 report. My name is Per Hillström. I'm responsible for Investor Relations. And presenting today, we have our President and CEO, Johnny Sjöström; and our CFO, Leena Craelius. And as you might notice, we have no video today. We are in a temporary office. So we don't have the normal studio. But again, that will be, as usual, Johnny will start with the quarter, and then a deep dive into the financials with Leena and then Johnny comes back with the outlook and a summary. And there will be time also, of course, for questions at the end.

So by that, please, Johnny, begin.

Johnny Sjöström
President & CEO

Good morning also from me. Start by summarizing the highlights from the Q3 report. I would like to emphasize the safety performance that we have within SSAB and also the safety culture that we've implemented. We continue to reduce the number of lost time injuries in the company in our journey to become the safest steel company in the world. I'm very proud of the level we are at right now, and we have ambitions

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Kering - Press release - Q3 revenue 2025 - 22 10 2025

PRESS RELEASE   October 22, 2025

REVENUE FOR THE THIRD QUARTER OF 2025

Group revenue: €3,415 million
down 10% as reported and down 5% on a comparable basis

“Kering’s third-quarter performance, while representing a clear sequential improvement, remains far below that of the market. This reinforces my determination to work on all dimensions of the business to return our Houses and the Group to the prominence they deserve. We are working relentlessly on our turnaround, as shown by our recent decisions.”

Luca de Meo, CEO

Group revenue in the third quarter of 2025 was €3.4 billion, down 10% as reported and down 5% on a comparable basis. The change in revenue as reported includes a negative currency effect of 5%.

The 5% decrease in comparable revenue in the third quarter represents a sharp sequential improvement (-15% in the second quarter of 2025), of which approximately one-half is due to the performance of Kering’s Houses beyond the favorable base of comparison.

By channel, in the third quarter of 2025:

Sales from the directly operated retail network fell 6% on a comparable basis, with all regions contributing to the sequential improvement (-16% in the second quarter of 2025). Wholesale and Other revenue was down 2% on a comparable basis. In the first nine months of the year, the Group generated revenue of €11.0 billion, down 14% as reported and down 12% on a comparable basis.

Revenue (in € millions)

  Q3 2025 Q3 2024 Reported change Comparable change
(1)             Gucci   1,343 1,641 -18% -14% Yves Saint Laurent   620 670 -7% -4% Bottega Veneta   393 397 -1% +3% Other Houses   652 686 -5% +1% Kering Eyewear and Corporate   448 440 +2% +6%             Eliminations   (41) (48) - -             KERING   3,415 3,786 -10% -5% On a comparable scope and exchange rate basis. Gucci 

In the third quarter of 2025, Gucci’s revenue amounted to €1.3 billion, down 18% as reported and down 14% on a comparable basis.
Sales from the directly operated retail network were down 13% comparable. This sharp sequential improvement compared to the second quarter, was notably driven by stronger momentum in North America and Western Europe, along with the success of new products, particularly Leather Goods. Wholesale revenue was down 25% on a comparable basis.
Towards the end of the quarter, Gucci presented its La Famiglia collection, which confirmed the House’s return to the forefront of fashion.

Yves Saint Laurent 

Yves Saint Laurent’s revenue in the third quarter of 2025 was €620 million, down 7% as reported and down 4% on a comparable basis.
Sales from the directly operated retail network dropped 2% on a comparable basis, which again represented a major sequential improvement. Sales returned to growth in North America and decreased only slightly in Western Europe. New collections were enthusiastically received, and the House saw double-digit growth in Ready-to-Wear and Shoes. The refresh of Yves Saint Laurent’s Leather Goods offer is also starting to pay off.
Wholesale revenue was down 16% on a comparable basis, in line with the House’s rationalization strategy.

Bottega Veneta                    

Bottega Veneta’s revenue totaled €393 million in the third quarter of 2025, down 1% as reported and up 3% on a comparable basis. 
The increase in revenue from the House’s directly operated retail network was very solid, up 5% on a comparable basis, driven in particular by double-digit growth in North America. Ready-to-Wear and Shoes saw the strongest growth, and the launch of the Campana bag showed very promising results.
Wholesale revenue fell 9% on a comparable basis.

Other Houses

Revenue from the Group’s Other Houses totaled €652 million in the third quarter, down 5% as reported and up 1% on a comparable basis.
Sales from the directly operated retail network were stable on a comparable basis. Wholesale revenue of the Other Houses was up 5% on a comparable basis.
Trends improved at Balenciaga across all product categories, thanks in particular to North America.   At McQueen, the decline in revenue moderated thanks to higher women’s ready-to-wear sales. Brioni maintained its growth, with a sharp increase in retail sales in Western Europe, North America and Japan.
The Jewelry Houses saw very solid momentum, with revenue up double digits. Boucheron’s development in the United States and Asia-Pacific was particularly encouraging. Revenue was up at Pomellato, whose High Jewelry line was very well received. Qeelin maintained its very positive trajectory in Asia-Pacific.

Kering Eyewear and Corporate

Revenue of the Kering Eyewear and Corporate segment totaled €448 million in the third quarter of 2025, up 2% as reported and up 6% on a comparable basis.
Kering Eyewear’s revenue rose by 7% on a comparable basis during the quarter. Very firm growth was recorded in all key regions and across the brand portfolio, with solid performances notably from Maui Jim and Lindberg. The partnership with Valentino, announced in September and scheduled to start with the Spring-Summer 2026 collection, represents a new phase in Kering Eyewear’s development.
Kering Beauté recorded growth, with revenue up 3% on a comparable basis. Its third-quarter highlights included the launch of Balenciaga’s first fragrance collection and Creed’s new Oud Zarian perfume.

EVENTS SINCE JULY 1, 2025

All resolutions approved in the General Meeting of shareholders
September 9, 2025 – All resolutions submitted to the vote at the Combined General Meeting were approved. Shareholders overwhelmingly endorsed the appointment of Luca de Meo as Director. This appointment forms part of the move to separate the roles of Chairman of the Board of Directors and Chief Executive Officer, which took effect on September 15, 2025.

Amendment to the Valentino shareholders agreement
September 10, 2025 – Kering and Mayhoola announced an amendment to their shareholders agreement, initially concluded in 2023 when Kering acquired a 30% stake in Valentino. Mayhoola’s put options on its remaining 70% stake in Valentino, initially exercisable in 2026 and 2027, have now been postponed to 2028 and 2029, respectively.

Start of Luca de Meo’s term of office as the Group’s Chief Executive Officer
September 15, 2025 – Luca de Meo officially took up his role as the Group’s Chief Executive Officer on September 15. François-Henri Pinault remains Chairman of the Board of Directors.

Francesca Bellettini appointed President and CEO of Gucci
September 17, 2025 – Francesca Bellettini, previously Deputy CEO of Kering, was appointed as President and Chief Executive Officer of Gucci, reporting to Luca de Meo, Kering’s Chief Executive Officer.

Acknowledgment of the European Commission’s decision regarding Gucci’s past commercial practices
October 14, 2025 – Kering acknowledged the decision of the European Commission related to past commercial practices at Gucci, imposing a fine of €119.7 million to the House. The Commission’s investigation was resolved following a cooperation procedure, allowing for a swifter resolution of the case. The risk was fully provisioned in the first-half 2025 financial statements, and the exposure is entirely covered.

Kering and L'Oréal forge an alliance in beauty and wellness
October 19, 2025 – Kering and L’Oréal announced that they are entering a long-term strategic partnership in luxury beauty and wellness. The agreement encompasses the acquisition of the House of Creed by L’Oréal, the beauty and fragrance licenses of iconic Houses of Kering, and an exclusive venture to explore business opportunities in the field of wellness and longevity. The agreement, valued at €4 billion, is expected to close in the first half of 2026.

AUDIOCAST

An audiocast for analysts and investors will be held at 6:00pm (CEST) on Wednesday, October 22, 2025. It may be accessed here.

The slides (PDF) will be available ahead of the audiocast at https://www.kering.com/en/finance/.

A replay of the webcast will also be available at https://www.kering.com/en/finance/.

About Kering

Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative Houses across ready-to-wear and couture, leather goods, jewelry, eyewear and beauty: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté. Inspired by their creative heritage, Kering’s Houses design and craft exceptional products and experiences that reflect the Group’s commitment to excellence, sustainability and culture. This vision is expressed in our signature: Creativity is our Legacy. In 2024, Kering employed 47,000 people and generated revenue of €17.2 billion.

Contacts

Press     Emilie Gargatte +33 (0)1 45 64 61 20 [email protected] Caroline Bruel   +33 (0)1 45 64 62 53 [email protected]       Analysts/investors     Claire Roblet +33 (0)1 45 64 61 49 [email protected] Aurélie Husson-Dumoutier +33 (0)1 45 64 60 45 [email protected] REVENUE FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2025

Revenue (in € millions)

  Q3 2025 Q3 2024 Change
as reported Comparable change(1) First nine months 2025 First nine months 2024 Change
as reported Comparable change(1) Gucci   1,343 1,641 -18% -14% 4,370 5,726 -24% -22% Yves Saint Laurent   620 670 -7% -4% 1,908 2,111 -10% -8% Bottega Veneta   393 397 -1% +3% 1,239 1,233 +0% +2% Other Houses   652 686 -5% +1% 2,111 2,403 -12% -9% Kering Eyewear and Corporate   448 440 +2% +6% 1,540 1,507 +2% +4%
   
 
 
 
 
 
 
 
  Eliminations   (41) (48) - - (166) (176) - - KERING   3,415 3,786 -10% -5% 11,002 12,804 -14% -12% (1) On a comparable scope and exchange rate basis.

Kering - Press release - Q3 revenue 2025 - 22 10 2025