Market Signal Briefing

Pre-market futures are averaging out to be flat at this hour, although we’re seeing a wider band of trading. The blue-chip Dow and the small-cap Russell 2000 — up +110 points and +2 points, respectively — are being slightly offset by -103 points on the tech-heavy Nasdaq and -2 on the comprehensive S&P 500 currently.

Doubts continue about the levels of AI infrastructure spending, and whether they are sustainable into the new year. On Broadcom’s (AVGO - Free Report) conference call yesterday afternoon following an otherwise robust earnings report, CEO Hock Tan saw some negative sentiment hit his company’s stock when he cited a lower-than-expected level of AI product orders next year. Tan later clarified he saw the $73 billion backlog as a minimum end of the range, but shares remain down -5% in today’s pre-market.

Next Week, Reports of Consequence: BLS, CPIBy Tuesday of next week, we’ll have a fresh catalyst for market sentiment. That’s when we’ll see the long-awaited Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) for November. I say “long awaited” because we are skipping right over October’s numbers due to the month-and-a-half government shutdown. Last time around, we saw +119K new jobs created in September, with an Unemployment Rate of +4.4%.

That +119K is not a bad number, especially in our current labor market environment. It likely more than makes up for retirees per month in the domestic labor force, so essentially it’s a growth number — which is good. The trouble is, this is by far the biggest monthly jobs gain of the last four months reported. Averaged out, they only come to +44K new jobs per month — less than what our economy needs to account for Baby Boomers (and older Gen-X) retiring.

Compare this with the four previous months’ average of +100K, and +185K the four months prior to that. So we can see some clear erosion in the labor market over the past year, up until September. Since then, with corporate layoffs taking headlines and immigration crackdowns affecting domestic labor, we don’t see much opportunity for upside in the upcoming BLS report. Unemployment, at 4.4%, is the highest we’ve seen in four years, but not yet anything historically problematic.

Thursday of next week brings us the long-awaited Consumer Price Index (CPI) report, including a fresh Inflation Rate (CPI year over year, headline) for November. This print also suffered the wrath of the government shutdown and is skipping October data, and where we last left off we saw a +3.0% Inflation Rate for the first time since January.

The trend in the charts going back 2 1/2 years or so — when we finally saw inflation rates come down from multi-decade highs — demonstrate lower highs and lower lows each wave through the cycle. We were at +3.7% in September 2023, +3.5% in March of ’24, and +3.0% in January ’25 for recent highs. But CPI year over year is among the most conspicuously absent of economic prints this year, and that we reached +3.0% in September again in this latest high (so far) may portend a new narrative.

That’s why next week’s data is so important: we appear to be at a new economic impasse, and that no one knows which way things may break is what will likely give the Fed pause going into the new year. Because somewhat lost in the positive outlook for GDP growth and inflation rates through 2026 overall, it’s clear Fed Chair Jerome Powell and his assenters of the FOMC are planning to tiptoe into the next Fed meeting.

HomeETFs and Funds AnalysisETF Analysis

SummaryVanguard International High Dividend Yield ETF (VYMI) earns a buy rating for superior risk-adjusted returns, broad diversification, and forward-looking portfolio construction.iShares International Select Dividend ETF (IDV), despite a higher yield and lower valuation multiples, faces value trap risks, higher concentration, greater turnover, and exposure to stagnating European markets.VYMI’s broader geographic and sector exposure, especially to Asia and growth sectors, enhances resilience and long-term capital appreciation potential.Risk metrics and Sharpe ratios consistently favor VYMI, confirming its appeal as a global ex-US dividend ETF for long-term investors. Torsten Asmus/iStock via Getty Images

Looking ahead to 2026, as the Trump administration is impacting global markets with new trade directives, it can be difficult to look at interesting high yield opportunities outside of the US, but it is a very relevant

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

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NEW YORK, Dec. 12, 2025 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the “Class”) who purchased or acquired the common stock of Integer Holdings Corporation (“Integer” or the “Company”) (NYSE: ITGR) between July 25, 2024 through October 22, 2025, inclusive (collectively, the “Class Period”).

For more information, submit a form at Integer Holdings Corporation Shareholder Class Action Lawsuit, email Investor Relations Manager Peter Allocco at [email protected], or call us at (212) 951-2030.

According to the lawsuit, Defendants made misrepresentations concerning the Company’s market position in the growing electrophysiology (“EP”) market and vastly overstated demand for Integer’s EP devices.

If you wish to serve as lead plaintiff for the Class, you must file papers by February 9, 2026. A lead plaintiff is a representative party acting on other class members’ behalf in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.

ATTORNEY ADVERTISING. © 2025 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
[email protected]

Key Takeaways Vertiv posts strong sales and order growth as global AI-driven data center demand accelerates.
SMCI expands with liquid cooling and plug-and-play DCBBS to support large-scale AI deployments.
VRT outperforms in stock gains and earnings momentum, while SMCI faces revenue and margin declines.

Vertiv (VRT - Free Report) and Super Micro Computer (SMCI - Free Report) are major players in the data center market, particularly in the rapidly growing area of AI data center infrastructure and liquid cooling solutions. While Vertiv focuses on power and cooling infrastructure for data centers, Super Micro Computer is strengthening its position with end-to-end AI rack-scale systems that integrate compute, networking, storage, and liquid cooling.

Per the Fortune Business Insight report, the global data center market size was valued at $242.72 billion in 2024. It is expected to grow from $269.79 billion in 2025 to $584.86 billion by 2032. This shows a compound annual growth rate of 11.7% during the forecast period from 2025 to 2032. Both VRT and SMCI are expected to benefit from this rapid growth pace.

So, VRT or SMCI —Which of these Data Center Infrastructure stocks has the greater upside potential? Let’s find out.

The Case for VRT StockVertiv is benefiting from the accelerating growth of data centers globally, driven by the rapid adoption of AI and the increasing demand for digital infrastructure. The global acceleration of AI adoption is driving significant demand for data center infrastructure. Vertiv is capitalizing on this trend, particularly in the Americas, where it saw a 43% organic sales growth in the third quarter of 2025, and in APAC, which grew 21% year over year.

In the trailing 12 months, organic orders grew approximately 21%, with a book-to-bill of 1.4 times for the third quarter of 2025, indicating a strong prospect. The backlog grew 12% sequentially and 30% year over year to $9.5 billion. This growth is primarily driven by the rapid adoption of AI and the increasing need for data centers to support the digital transformation.

The company’s extensive product portfolio, which spans thermal systems, liquid cooling, UPS, switchgear, busbar, and modular solutions, remains noteworthy. Acquisitions have also played an important role in expanding Vertiv’s portfolio.

Vertiv’s partnership with Caterpillar has significantly contributed to its growth. In November, the company announced a strategic collaboration with Caterpillar to deliver integrated, modular on-site power and cooling solutions that accelerate data center deployment and improve energy efficiency.

The Case for SMCI StockSuper Micro Computer is benefiting from the growing deployment of AI and HPC workloads. As data centers are proliferating and existing ones are scaling up their capacity, the demand for SMCI’s high-performance and energy-efficient servers is rising.

As AI servers become more powerful, they also generate more heat. Super Micro Computer has taken the lead in liquid cooling with its Direct Liquid Cooling (DLC) and newer DLC-2 technologies. These solutions reduce power and water usage by up to 40% while lowering noise levels to just 50 decibels, similar to a quiet room. Liquid cooling is critical for large-scale AI deployments, where traditional air cooling is no longer sufficient. Super Micro Computer’s early leadership in this area gives it a long-term edge in building efficient, sustainable data centers.

Another key factor driving SMCI’s growth is its Data Center Building Block Solution (DCBBS), which offers customers a comprehensive, plug-and-play solution for AI-ready data centers.  DCBBS enables rapid planning, design, and deployment while optimizing performance and reducing power consumption through advanced technologies like DLC and DLC-2.  This solution is critical for customers looking to accelerate their digital transformation and build efficient AI factories.

Price Performance and Valuation of VRT and SMCIIn the trailing six-month period, Vertiv shares surged 56% while Super Micro Computer shares plunged 21.5%. The outperformance in VRT can be attributed to its extensive product portfolio, which spans thermal systems, liquid cooling, UPS, switchgear, busbar, and modular solutions.

The decline in SMCI’s share price can be attributed to declining revenues and shrinking margins. SMCI’s fiscal first-quarter 2026 revenues and earnings declined 15.5% and 56%, respectively.

VRT and SMCI Performance
Image Source: Zacks Investment Research

Valuation-wise, VRT shares are currently overvalued, as suggested by a Value Score of F. Super Micro Computers shares are cheap, as suggested by a Value Score of A.

In terms of forward 12-month Price/Sales, VRT shares are trading at 5.59X, higher than SMCI’s 0.51X.

VRT and SMCI Valuation
Image Source: Zacks Investment Research

How Do Earnings Estimates Compare for VRT & SMCI?The Zacks Consensus Estimate for VRT’s 2025 earnings is pegged at $4.11 per share and has remained unchanged over the past 30 days. This indicates a 44.21% increase year over year.

However, Zacks’ Consensus Estimate for SMCI’s fiscal 2026 earnings is pegged at $2.16 per share and has remained unchanged over the past 30 days. This indicates a 4.85% increase year over year.

VRT’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 14.89%. SMCI earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing it once, with an average surprise of 5.80%. VRT’s average surprise is higher than that of SMCI.

ConclusionWhile both Vertiv and Super Micro Computer are benefiting from the booming data center infrastructure market, Vertiv offers greater upside potential with a strong portfolio, rich partner base, and significantly higher earnings momentum compared to SMCI.

Despite SMCI’s expanding portfolio, trade restrictions and strong competition may hurt global sales. Lingering concerns from past accounting issues remain a major negative.

Currently, Vertiv has a Zacks Rank #2 (Buy), making the stock a stronger pick than Super Micro Computer, which has a Zacks Rank #3 (Hold).

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

TL;DR:

Institutions and ETF treasuries hold nearly 3.7 million LTC worth $296 million even as many retail traders still overlook the asset.
LitVM’s Silver Standard report highlights Litecoin as the legacy blockchain with 100% uptime over 12 years, a profile investor Creed says institutions still value.
Binance top traders have been ramping up long $LTC positions as Lucky argues sub $100 prices look more like an accumulation phase than a verdict.

Litecoin’s latest market chapter is unfolding with an odd disconnect, as retail traders continue to overlook the long running “legacy” altcoin even while institutional players quietly build sizeable positions below the $100 mark. After a downtrend stretching back to 2021, LTC has struggled to capture attention, yet a cluster of fresh on chain and market signals is now driving calls from seasoned investors that the coin may not stay under three digits for much longer.

There are now over 3.7 million Litecoin being held in 10 public companies and investment funds. An increase of one million LTC since August 2025.

This includes notable public funds like @Grayscale, Litecoin treasuries like @LiteStrategy and @LuxxfolioH and recently launched… pic.twitter.com/qkTjjdYjY7

— Litecoin Foundation ⚡️ (@LTCFoundation) December 11, 2025

Institutions scale up exposure while price drifts under $100
This year, as companies and funds expand reserves and roll out ETFs in the current market cycle, Litecoin has joined that institutional accumulation wave, with data showing treasuries and ETFs holding nearly 3.7 million LTC worth approximately $296 million by the end of 2025. According to Litecoin Register, those holdings span 10 companies and investment vehicles and have grown by 1 million LTC since August 2025, highlighting a steady bid from balance sheets even without headline grabbing price action.

Behind those headline numbers sit familiar names in institutional circles, with entities such as Grayscale, Lite Strategy and Luxxfolio Holdings among top holders and Luxxfolio targeting 1 million LTC by 2026 as a long term supporter. At the same time, LitVM’s “Silver Standard” report singles out Litecoin as the blockchain with the highest uptime among legacy networks, noting that it has maintained 100% availability for 12 years, a record investor Creed says matches what institutions want when they talk about “sound money.”

That combination of balance sheet demand and operational resilience is now mirrored in trading data, as derivatives specialists highlight top traders on Binance rapidly increasing long $LTC positions in the second week of December as a sign of bullish conviction. Analyst CW recently flagged the shift on social media, while longtime market participant Lucky argued that this backdrop makes it hard to imagine Litecoin staying below $100 for much longer, even if price action has lagged.

The broader thesis is that Litecoin now sits in the same bucket as altcoins like XRP, XLM and LINK, where strong fundamentals and backers meet slow price action, leaving the next major move tied to whether capital via DATs and ETFs continues to favour them. If that liquidity persists and network reliability remains intact, analysts argue that sub $100 levels could look more like an accumulation phase than a final verdict on Litecoin’s place in the market.

On December 11, Hedera’s native cryptocurrency, HBAR, saw a price decline of nearly 29% for the month, with a weekly drop of about 6%. Despite this downturn, large investors, known as whales, accumulated an impressive 3.42 billion HBAR within just two days. This accumulation, valued at a minimum of $445 million at current prices, indicates a potential long-term strategy by these significant holders, despite the token’s current weakness among retail investors.

The current market scenario highlights a disparity between whale behavior and retail trading dynamics. While retail demand appears tepid, whales have increased their holdings sharply. Notably, accounts holding at least 10 million HBAR increased from 136.54 to 149.49, and those with at least 100 million HBAR rose from 40.65 to 73.62. Such moves raise questions about the underlying signals that large investors are reading.

HBAR’s price movement is trapped in a falling wedge pattern, which typically indicates a potential bullish reversal, as it suggests weakening seller momentum. Recently, between December 7 and December 11, HBAR’s price marked a higher low, but the On-Balance Volume (OBV) registered a lower low. This divergence implies insufficient buying strength among retail traders to sustain a price recovery, despite the bullish wedge structure.

The OBV, which tracks cumulative trading volume to indicate money flow into or out of a token, is often a more accurate gauge of retail market sentiment. However, it fails to account for over-the-counter transactions or large off-exchange transfers typically associated with whales. This makes the OBV less reliable for detecting whale activity, which is more crucial for understanding broader market movements.

Interestingly, a bullish divergence in the Relative Strength Index (RSI) could be contributing to whale optimism. Between October 17 and December 11, while HBAR made a lower low, its RSI showed a higher low. The RSI measures the velocity of price changes, and such divergence often suggests a potential trend reversal. This pattern preceded previous short-term rallies in HBAR, with price increases of 15% and 12% observed on December 1 and December 7. While these rallies were halted by resistance levels, the conjunction of current whale accumulation and RSI divergence could hint at a more significant shift.

For the HBAR market to switch from its current bearish sentiment to a more bullish outlook, a critical price level stands at $0.159. A daily close above this threshold would not only break the upper trend line of the wedge but also pave the way for potential gains toward $0.198 and $0.219. Conversely, a fall below $0.122 would signal weakness, pushing HBAR back to the lower boundary of the wedge, emphasizing seller dominance.

The significant whale activity against a backdrop of weak retail interest suggests different interpretations of the same market data. While whales may be banking on historical RSI signals and forming a base for future growth, retail investors remain cautious, possibly awaiting more definitive signals of market recovery before committing more capital.

Historically, whale activity has been a precursor to market movements in the cryptocurrency sector. Large investors often possess the resources and information to make informed decisions ahead of retail traders. This scenario has played out in other markets where significant holdings by a few can drive price action, potentially leading to abrupt recoveries or downturns.

However, it’s important to note the risks involved. Whales can often afford to hold through prolonged downturns, while retail investors might face liquidity issues. Moreover, market conditions can change rapidly due to external factors such as regulatory shifts or technological advancements that could impact investor sentiment.

For instance, recent regulatory developments in other countries have led to increased scrutiny on cryptocurrencies, which can influence market dynamics. Countries with significant cryptocurrency markets have begun implementing more stringent regulations, affecting both retail and institutional investors. Such policies could alter the attractiveness of cryptocurrencies like HBAR and affect their valuation.

In summary, while HBAR’s price currently reflects a mixed market sentiment, the significant whale accumulation amidst weak retail demand points to a potential strategic play by these large investors. The presence of RSI bullish divergence further supports the possibility of a trend reversal. Yet, the market remains susceptible to external influences and inherent risks associated with cryptocurrency investments. As always, market participants, especially retail investors, should proceed with caution and consider the broader market environment before making investment decisions.

Post Views: 5

In brief
Tom Lee, chairman of top Ethereum treasury firm BitMine, praised Strategy for establishing a $1.4 billion cash reserve.
The reserve will allow the $61 billion Bitcoin treasury to pay dividends with its cash stockpile during downturns for Bitcoin.
Lee said that cash and staking revenues will similarly protect BitMine, even if it hasn't formed a formal USD reserve.
Shares in publicly traded Bitcoin treasury firm Strategy (MSTR) have fallen more than 50% over the last 6 months, but BitMine Immersion Technologies Chairman Tom Lee said the company made a sensible move when it recently announced a cash reserve amid Bitcoin’s falling price.

The reserve, a $1.44 billion tranche of funds built to help pay shareholder dividends, was launched earlier this month, providing the Bitcoin behemoth with an outlet to pay dividends even during BTC downturns. It’s a move that could help Strategy avoid selling some of its $61 billion stash of Bitcoin.

“In the last downturn of Bitcoin, Strategy traded below net-asset-value (NAV). It’s going to happen,” said Lee. “But it’s really—how is the company prepared for that downturn? I think they’re doing the smart thing, they’ve now announced a cash reserve of $1.4 billion—smart.”

BitMine, the largest Ethereum treasury firm with over $12 billion worth of ETH, has also been holding onto cash, Lee said, even if it hasn’t announced a dedicated U.S. dollar reserve.

“We’ve been running cash the entire time,” he said of BitMine. “We don’t want anyone to ever think we’re not going to be around. We’re going to have $400 million in staking revenue, and $1 billion in cash—nothing can really happen to BitMine.”

Digital asset treasuries are typically evaluated based on their mNAV, the ratio of the firm’s market cap to its net asset holdings. In other words, an mNAV of 1 means that the company trades in line with the value of its holdings.

Depending on a firm’s mNAV, its financial flexibility shifts and it may take different actions to benefit shareholders. Recently, many digital asset treasuries have seen their mNAVs dip below 1, leading to moves in order to try and benefit shareholders.

For example, recently when trading below an mNAV of 1, Ethereum treasury firm ETHZilla sold some of its ETH holdings to repurchase shares, in a move aimed at benefitting shareholders. Others, like SharpLink Gaming, have repurchased shares instead of buying ETH in the same scenario. 

According to Lee, those digital asset treasuries that trade below a 1 mNAV are taking various paths to try and achieve a premium, but it’s still unclear what will ultimately pan out.

“I think they’re all trying different things. I don’t know what’s going to work,” he said. “I think if a DAT is trading below NAV, they are having an existential issue.”

The hype around digital asset treasuries has worn off considerably as the year has gone on, and crypto prices have declined, highlighted by major stock price declines and mounting unrealized gains for newer firms. 

“It’s an object lesson for both crypto builders and stock investors,” Lee said of the trend. “For crypto builders, they thought building a DAT was simply: ‘Let’s put together a team, put some famous names on it, and we’re going to be 100x on the stock.’ But that was a little naive.” 

Meanwhile, he said, the equity investor has learned that just because a firm has crypto on its balance sheet, that it doesn’t mean it will outperform the underlying asset. 

“What’s happened this year,” Lee said, “is both sides have kind of sobered up.”

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

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A simmering governance dispute has broken out around DeFi’s largest lending protocol, Aave, after a delegate claimed that a recent CoW Swap integration and other product decisions have diverted potential revenue away from the Aave DAO and toward Aave Labs, raising fresh questions over how protocol economics should be split between the community and its main development company.

The issue stems from a change in how swaps are routed through Aave-linked interfaces.

In an open letter posted to Aave’s governance forum this week, an Orbit delegate and AAVE tokenholder posting under the pseudonym “EzR3aL” said their onchain analysis suggests that swap fees introduced via a new CoW Swap-powered interface are no longer flowing to the DAO treasury, unlike under a prior Paraswap referral setup, and instead appear to be accruing to a separate address not controlled by the DAO.

The delegate’s post notes that Aave Labs integrated Paraswap adapters when rolling out Aave v2 and v3, allowing users to execute token swaps without leaving the Aave frontend. In June 2022, Paraswap introduced a referral program that directed surplus revenue to the Aave DAO treasury without imposing any explicit fee on users.

According to the delegate, this structure provided an incremental revenue stream for the DAO on top of core lending and flash loan fees. Unlike the Paraswap arrangement, Aave Labs’ CoW Swap integration now includes an extra fee of 15 to 25 basis points on swaps, as documented in Aave’s materials.

In mid-2025, Aave Labs began rolling out CoW Swap-powered swap functionality in its application. By early December, the protocol highlighted a deeper partnership, as reported by The Block. It also integrated new adapters on several chains, improved incentives tooling via Merkl, and a Balancer v3-based flash loan factory in a November development update.

Using test transactions, onchain explorers, and CoW Swap documentation, EzR3aL said they traced the partner fee field in CoW Swap app data for the “aave-v3-interface-widget” to a specific recipient address. This address has been receiving periodic ETH transfers — for example, around 46 ETH on Dec. 4 on Ethereum, with additional flows on Arbitrum — and estimated that, across supported chains, the fee stream could be worth at least about $200,000 per week since the second quarter of 2025, coinciding with the newer integration. EzR3aL noted that this estimate is based on their own tests and public data and that actual volumes could be higher.

The post asked Aave Labs directly whether the DAO still receives any portion of CoW Swap-related fees, whether the DAO was consulted before the change, and whether any commercial agreements with CoW Swap influenced the decision.

EzR3aL's post, which explicitly framed itself as a set of questions rather than a formal proposal, has sparked a wider debate involving the Aave Chan Initiative (ACI) and Aave founder Stani Kulechov over the alignment between Aave Labs and the decentralized community that governs the protocol.

Aave is the largest decentralized finance lender, with nearly $34 billion in total value locked and around $112 million in annualized revenue, according to The Block’s data. Its native token, AAVE, surged nearly 7% in the last 24 hours amid a broad crypto market rebound, The Block's price page shows.

Aave Chan Initiative calls situation ‘extremely concerning’
The Aave Chan Initiative, a major Aave service provider and influential governance group led by Marc Zeller, followed up with its own response on the forum and on X, calling the situation “extremely concerning.”

"The stealth privatization of approximately 10% of Aave DAO's potential revenue, leveraging brand and IPs paid for by the DAO, represents a clear attack on the best interests of the $AAVE Token holders," Zeller wrote on X on Friday.

Zeller argued that service providers on the DAO’s payroll, including Aave Labs, have a “fiduciary duty” to act in the best interests of AAVE token holders. He said there had been a long-standing expectation that monetization of the aave.com frontend — including Paraswap positive slippage and flash loan fees triggered by interface-driven swaps — would accrue to the DAO treasury.

“The tacit relationship was that the DAO lent the usage of the Aave brand and IP in exchange for the monetization of the aave.com frontend contributing to Aave DAO resources,” Zeller wrote, adding that ACI engineers had contributed extensively to the Aave Labs-maintained interface under that assumption.

In his forum post, Zeller said ACI’s main concern with the CoW Swap integration is that Aave DAO appears to have lost two revenue streams: Paraswap referral income and flash loan fees from swaps, given that CoW Swap solvers frequently use Balancer’s flash loans, which are fee-free, instead of Aave’s.

He also questioned whether the CoW Swap execution, plus the new front-end fee, is clearly better for users than the prior setup, and raised concerns that it may be “symptomatic of a larger trend of privatizing larger portions of protocol revenue” for the benefit of Aave Labs.

Horizon, vault fees, and Aave v4 liquidation engine under scrutiny
Beyond CoW Swap, Zeller’s response broadened the scope to other Aave Labs-linked products and economics.

He asked whether Aave Vaults — an Aave Labs product highlighted in protocol documentation — includes hardcoded fees that go solely to Aave Labs. And if so, whether any revenue-sharing arrangement with the DAO is planned, given the vaults’ expected role in Aave v4.

Zeller also pointed to Horizon, an Aave Labs-associated product that originally proposed a second token structure before being reworked, and said that to date it has generated about $100,000 in visible revenue against roughly $500,000 in Aave DAO incentives. Horizon is designed for institutional real-world asset adoption, like tokenized U.S. Treasuries. 

Once the cost of maintaining GHO’s peg on deposits into Horizon is considered, Zeller said, the net economics may be even more negative for the DAO. He asked whether any direct compensation or integration fees related to Horizon or asset onboarding had been arranged for Aave Labs and, if so, whether those were intended to be shared with the DAO.

Finally, Zeller flagged the planned Aave v4 liquidation engine as a potential future flashpoint. He noted that Aave v3’s existing liquidation design has handled major volatility events without significant bad debt and suggested that shifting to an externalized engine, as proposed, could reduce liquidation revenue for the DAO by “tens of millions of dollars per year.”

In his response, Zeller questioned whether the change would represent another instance of economic flows being shifted away from the protocol treasury.

It’s important to note that none of these points were presented as proven breaches of duty or judgment, but rather as a set of questions about alignment and disclosure that Zeller said the DAO needs to address before committing fully to the v4 roadmap.

Founder Stani Kulechov: Aave Labs can monetize its own interface
Aave founder Stani Kulechov responded publicly in an X thread, offering Aave Labs’ perspective on the controversy.

Kulechov emphasized that Aave Labs has maintained its own “opinionated” frontend for more than eight years, separate from the protocol itself, and said it is appropriate for the company to monetize that product, particularly for features that sit outside core protocol functionality.

"Our goal is always to use Aave Protocol and build also features that are outside of the Aave Protocol that help to keep the users in the protocol, transact more and have competitive advantage," Kulechov said. “It’s also perfectly fine for Aave Labs to monetize its products, especially as they don’t touch the protocol itself."

He said Aave Labs previously integrated Paraswap adapters into its interface and that, while Paraswap’s structure generated surplus from better-than-quoted execution, Aave Labs chose at the time "to donate" that surplus to the Aave DAO. That decision, Kulechov argued, was voluntary and could have instead taken the form of rebates to users.

According to Kulechov, the more recent CoW Swap integration was driven by a desire to improve the user experience and add MEV protection, based on user feedback, and Aave Labs funded the adapters and integration itself.

He said the company's monetization on that interface does not alter the underlying Aave protocol, which remains permissionless for any team to build on, and that Aave Labs does not believe the Aave DAO should pay for its product development. Aave Lab's end goal, he argued, is to grow the protocol and keep users inside the ecosystem through additional features, and, in doing so, ultimately increase volumes and revenues that benefit AAVE tokenholders.

Kulechov did not appear to directly address all of the specific questions raised in the Aave governance forum about fee destinations, vault revenue splits, or Horizon economics.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

South Korean investors gain unique access to Ripple Labs shares through new joint venture, with VivoPower earning fees while avoiding capital risk.

Photo: Thomas Fuller/SOPA Images/LightRocket via Getty Image

Key Takeaways

Vivo Federation and Lean Ventures will jointly acquire $300 million in Ripple Labs shares for South Korean investors.
This investment structure offers VivoPower exposure to Ripple Labs and XRP upside without using its own capital.

VivoPower International PLC, which is transforming into an XRP-focused digital asset enterprise, announced Friday that its Vivo Federation unit has partnered with Lean Ventures in a definitive joint venture to purchase $300 million worth of Ripple Labs shares.

Under the agreement, Lean Ventures will arrange for the establishment of a dedicated investment vehicle to acquire the shares. Lean Ventures is a licensed South Korean asset manager that oversees funds for the Government of South Korea and other limited partners.

Vivo Federation will handle the acquisition and management of Ripple Labs shares. The entity has received formal approval from Ripple Labs to purchase an initial batch of preferred shares and is now in direct discussions with institutional investors to acquire additional shares.

VivoPower is expected to earn $75 million in management and performance fees over three years, based on $300 million in assets under management.

This arrangement gives the company financial exposure to any potential upside in Ripple Labs and XRP, without using its own capital.

VivoPower’s shares surged nearly 12% in early Friday trading, according to Yahoo Finance data.

Disclaimer

About 60,000 ETH, worth nearly $200 million, moved to exchanges in the past 24 hours, according to Santiment data shared by @alicharts. Meanwhile, ETH traded near key on chain levels as whale realized price signals and Ethereum linked treasury stocks added new market cues.

60,000 ETH moved to exchanges in 24 hours, Santiment data showsAbout 60,000 Ethereum (ETH), valued at nearly $200 million, moved to cryptocurrency exchanges over the past 24 hours, according to data shared by analyst Ali Martinez, known as @alicharts, citing Santiment.

Ethereum Exchange Inflows and Exchange Supply Chart. Source: Santiment via @alicharts

The update flagged a jump in exchange inflows, a metric traders often watch because transfers to exchanges can raise immediately available supply for spot trading. The post did not identify the wallets or exchanges involved.

A chart attributed to Santiment alongside the post showed ETH trading near $3,247 at the latest reading. The same chart showed exchange supply around 1.22 million ETH, after a sharp step down earlier in the week and a smaller rebound near the end of the period.

Ethereum’s market has stayed choppy through mid December, with price swings following a sharp drop earlier in the week and a steadier move higher afterward. The latest inflow figure adds a new data point for exchange activity as traders track how quickly deposits convert into spot selling or remain idle on platforms.

Ethereum treasury stocks rebound as traders watch ETH buying powerSeveral public companies tied to Ethereum treasury strategies showed a rebound on recent trading charts, after steep declines earlier in the year, according to a post by trader Ted, known as @TedPillows.

Ethereum Treasury Companies Price Charts. Source: @TedPillows

The shared screen showed short term recoveries across multiple names, including BitMine Immersion Technologies, SharpLink Gaming, Dynamix Corporation, and Bit Digital. In the latest readings shown, BitMine traded near $38.93 in premarket, SharpLink near $11.66, Dynamix near $10.46, and Bit Digital near $2.46.

Ted said the bounce matters because stronger equity prices can improve a firm’s ability to raise capital, which can later translate into additional ETH purchases. However, the same charts also showed these stocks still sitting well below earlier peaks, after sharp selloffs that hit several crypto linked equities.

ETH trades near whale realized price for fourth time since 2020, CryptoQuant data showsEthereum has moved very close to the realized price of large whale wallets holding at least 100,000 ETH, marking only the fourth such instance since 2020, according to data shared by analyst Rand, known as @cryptorand, citing CryptoQuant.

ETH Whale Realized Price vs ETH Price Chart. Source: CryptoQuant via @cryptorand

In a post on X, Rand noted that ETH has previously reached this level three times over the past five years. Each earlier occurrence coincided with periods when Ethereum later posted strong price recoveries, based on historical chart data.

The chart tracks ETH price against the realized price of whale balances and highlights four moments where the two lines converged closely. The latest convergence appears in late 2025, following a sharp pullback from recent highs, as large holder cost bases once again align with spot market levels.

About Emily Jarvie
Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, and... Read more

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Fri, 12/12/2025 - 15:52

Cardano hit with short-term death cross amid indecision on market, but key indicator offers hope.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Cardano has just completed a death cross, a pattern that appears when the short-term moving average falls below the long-term MA on its short-term charts.

The hourly MA 50 has fallen below the MA 200, forming a death cross pattern on the hourly chart.

Cardano reversed its climb after reaching a high of $0.484 on Dec. 9, falling for two straight days. At press time, Cardano was attempting a rebound, slightly higher in the last 24 hours by 2.47% to $0.424.

HOT Stories

Indecision remains on the market as investors are still assessing the latest Fed interest rate cut. The central bank's Federal Open Market Committee lowered its borrowing rate by a quarter-percentage point on Wednesday, taking it to a range between 3.5% and 3.75%.

Fed Chairman Jerome Powell said in his post-meeting news conference that the central bank is "well positioned to wait and see how the economy evolves," and indicated a slower pace of rate cuts ahead. The Fed is envisaging only one rate cut in 2026.

However, hope still remains, based on the MVRV indicator. Cardano's average 30-day trading return was -4.4%, according to recent Santiment data. Negative percentages might suggest average traders are down in profits, and there is an opportunity for the coin to catch up.

If Cardano sustains its current rebound, its next target might be $0.50 ahead of $0.90; on the other hand, support is expected at $0.37 and $0.40 in the event of a further price drop.

Cardano welcomes PythIn a new development, the steering committee representing Input Output Group, Cardano Foundation, Emurgo, Midnight Foundation and Intersect has approved the first major integration under the Critical Cardano Integrations workstream: bringing Pyth Lazer oracle to Cardano.

Pyth is a first-party price oracle network that provides real-time market data directly to blockchain applications.

According to Intersect, delivery work on Cardano Pyth integration has already begun, with deployment targeted for early 2026.

Related articles

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The rates of most of the coins are rising again, according to CoinStats.

BTC chart by CoinStatsBTC/USDThe price of Bitcoin (BTC) has gone up by 1.41% over the last 24 hours.

Image by TradingViewOn the hourly chart, the rate of BTC is going down after a false breakout of the local resistance of $92,735. If the daily candle closes below that mark, the correction may lead to a test of the $90,500 zone by tomorrow.

Image by TradingViewOn the longer time frame, the price of the main crypto is declining after a failed attempt to fix above the $94,172 resistance. 

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If the situation does not change by the end of the day, there is a high possibility of seeing an ongoing drop to the support of $88,156 soon.

Image by TradingViewFrom the midterm point of view, traders should pay attention to the bar's closure in terms of the $94,172 resistance. If the bar closes far from that mark, traders may see a test of the interim zone of $85,000 next week.

Bitcoin is trading at $90,667 at press time.

Bitcoin Plunges Below $90K as AI Worries Drag Nasdaq, Crypto Stocks DownChipmaker Broadcom's 10% slide weighs on the market as Chicago Fed's Goolsbee signals more cuts than the median for 2026. Updated Dec 12, 2025, 4:04 p.m. Published Dec 12, 2025, 4:04 p.m.

Artificial intelligence-focused stocks are coming under pressure on Friday, dragging tech-related equities and bitcoin BTC$89,934.44 lower during the early U.S. session.

Chipmaker Broadcom (AVGO), the ninth largest asset by market cap, tumbled 10% despite strong earnings as its outlook disappointed investors' lofty expectations.

STORY CONTINUES BELOW

The Nasdaq index was down over 1% in the first hour of the session. Adding that to Oracle's 10% slump on Thursday and a further 3% decline on Friday, as investor concerns are mounting that the red-hot AI theme that fueled much of this year's stock market gains might be fizzling out.

Bitcoin, trading around $92,500 overnight, plunged 2% following the U.S. stock market open to $89,800 recently, extending the choppy action through the week. A consistent theme this week has been bitcoin setting intraday lows during U.S. trading hours, a pattern that has led to the filing of the proposed AfterDark Hours ETF.

Bitcoin miners, some of which have been increasingly leaning into AI for diversification, showed a similar reaction to Broadcom’s miss. Hut 8 (HUT) fell more than 5%. Iren (RIEN) and Riot (RIOT) dropped about 4%, while Cipher(CIFR) and Iren (IREN) both were down about 2% over the past day.

Crypto-related stocks also fell alongside the Nasdaq. Robinhood (HOOD) and Strategy (MSTR) were both down nearly 2%. Stablecoin issuer Circle (CRCL) was hit hard and fell more than 5%. Coinbase (COIN) dropped slightly.

Markets had already been under pressure after Federal Reserve chair Jerome Powell's speech on Wednesday, which hinted at a possible rate cut pause in January. As a result, markets now expect only two rate cuts in 2026 instead of three. Chicago Fed President Austan Goolsbee, who was against a December rate cut, however, said he expects more in 2026 than the current median projection.

Several other members of the Federal Reserve will also speak over the course of today as the central bank's blackout period following its December meeting on Wednesday has ended. Traders will be looking for any guidance on whether Fed officials agree with Powell on potentially holding rates steady in January.

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Protocol Research: GoPlus Security

Nov 14, 2025

What to know:

As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.View Full Report

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Filecoin Trades Little Changed, Underperforms Wider Crypto Markets

1 hour ago

The token has major support at the $1.36 level and resistance at $1.40.

What to know:

Filecoin slipped 0.2% to $1.37 over the last 24 hours. Trading volume was 29% above weekly averages as institutional flows accelerated.Read full story

Solana price trades above key support at $131 while RSI begins trending upward, signalling early bullish strength and the potential for a directional expansion toward higher price targets.

Summary

SOL consolidates at strong HTF support near $131, hinting at accumulation.
RSI forms a clear uptrend, signaling building bullish momentum.
POC shift into support suggests a powerful breakout may follow.

Solana (SOL) price is showing early signs of a bullish shift as price continues to hold above a major high-time-frame (HTF) support zone at $131. After several days of tight consolidation, market structure and momentum indicators are beginning to align in favor of a potential upside breakout.

Notably, the Relative Strength Index (RSI) has started forming a clear uptrend, a signal often associated with early-stage accumulation before an impulsive price expansion. With the Point of Control (POC) now shifting directly into the support region, volume confirms heightened activity that could precede the next directional move.

Solana price key technical points

Solana trades above HTF support at $131, showing signs of accumulation.
RSI is trending upward, hinting at early bullish momentum building beneath the surface.
Point of Control has shifted into the support zone, confirming heavy volume and increasing likelihood of a strong expansion.

SOLUSDT (12) Chart, Source: TradingView
For most of the week, Solana’s price has been anchored around the $131 HTF support, a level that has demonstrated strong resilience despite broader market fluctuations. This behavior is often associated with an accumulation phase, where buyers gradually absorb sell-side pressure without allowing price to break lower.

The consolidation occurring at a major support level is notable, as it signals that market participants are defending the zone while preparing for the next structural move, momentum reinforced by ecosystem developments such as Bhutan’s gold-backed TER token launching on the Solana blockchain, boosting broader network confidence.

Adding to this outlook is the significant shift in the Point of Control (POC) within the volume profile. The POC is now positioned directly at the $131 support zone, indicating that a substantial portion of trading activity has taken place at this level. When a POC moves into support, it typically reflects a meaningful battle between buyers and sellers.

Momentum indicators are also aligning with the bullish view. The RSI has begun trending upward, forming a series of higher lows that signal strengthening underlying momentum. RSI uptrends that occur during price consolidation frequently hint at quiet accumulation, where momentum builds before becoming visible in price itself. As long as the RSI maintains this trajectory, it increases the probability that Solana may soon attempt a breakout from the current structure.

From a structural perspective, price action remains constructive. SOL has not broken below its HTF support, nor has it formed new lower lows. Instead, the market is coiling within a tight range, allowing compression to build. Compression phases often resolve with powerful expansions, and with key indicators shifting bullishly, the likelihood favors an upside resolution.

Should a breakout occur, Solana may target the $137–$145 zone, levels aligned with historical resistance and liquidity pockets that price is likely to revisit. Given the heavy volume contained within the support area and rising momentum on RSI, any upside expansion is expected to be impulsive and directional, rather than gradual, a move that aligns with broader ecosystem developments such as Coinbase-backed x402 V2 bridging Base, Solana, and card networks for AI-powered payments, which could further strengthen sentiment around Solana.

What to expect in the coming price action
If Solana continues to defend $131 while RSI trends upward, a bullish expansion toward $137 and beyond appears increasingly likely. A breakout from consolidation would likely be impulsive, driven by accumulated volume and rising momentum. Conversely, failure to hold $131 would delay the bullish scenario and return SOL to a corrective structure.

Tether Holdings SA is weighing share tokenization and buybacks to control investor liquidity as it pursues a stock sale valuing the firm near $500 billion.

Tether Steps In To Block Discounted Share SalesBloomberg reported on Friday that Tether (CRYPTO: USDT) executives moved to halt plans by at least one existing shareholder to sell stock at a steep discount.

People familiar with the matter said one investor sought to offload at least $1 billion worth of shares, implying a valuation of about $280 billion, well below the level targeted in Tether's fundraising.

Tether’s management was concerned such transactions could undermine a broader capital raise expected to reach $20 billion.

"It would be imprudent, and indeed reckless, for any investor to attempt to circumvent the established process," Tether said.

Tokenized Shares Emerge As A Controlled Exit OptionOne option under discussion involves digitally representing Tether shares on a blockchain through tokenization.

That approach could allow controlled liquidity without opening the door to unrestricted secondary trading.

Tokenization has gained traction across markets for faster settlement and lower transaction costs.

Galaxy Digital, Kraken, and Robinhood have all tested tokenized equity products in recent months.

Tether launched its own tokenization platform, Hadron, in November 2024.

The platform supports digital representations of assets including stocks, bonds, and commodities.

Buybacks Offer Another Pressure ValveExecutives are also considering share buybacks to provide exits for early investors and employees. 

This model has become more common among large private fintech and cryptocurrency firms.

Ripple (CRYPTO: XRP) said it has repurchased more than 25% of its outstanding shares in recent years.

Revolut recently offered to buy back employee shares at a 30% discount to its latest fundraising valuation of $75B, the Financial Times reported.

Tether has not set a timeline for an initial public offering.

That uncertainty could leave investors waiting years for liquidity without alternative mechanisms.

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RH Analysts Slash Their Forecasts Following Q3 Earnings
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HSBC Holdings PLC (LSE:HSBA) and NatWest Group PLC (LSE:NWG) were among top picks as Citi said the European banking rally has "further to run" going into 2026, with attractive valuations, improving income trends, and strong capital return yields. 

Analysts said they see further upside to consensus earnings forecasts as net interest income (NII) recovers and non-NII growth continues.

Citi forecasts a 7.5% capital return yield across the sector, supported by around a 75% payout ratio and improving earnings visibility.

Sector-wide NII is expected to return to growth in 2026, led by banks with structural hedge benefits and strong volume growth.

While Citi sees limited downside risk, it notes that “a sharp slowdown in economic growth and/or a flattening yield curve would be negative for banks,” though this is not its base-case prediction.

Best performers
UK domestic names, notably NatWest, are seen as outperformers. The broker is 5% or more above 2027 consensus earnings for HSBC and NatWest, among others.

Non-interest income is also expected to rise by 4% in 2026, with HSBC and Standard Chartered PLC (LSE:STAN) highlighted for exposure to Asian wealth growth, while Lloyds Banking Group PLC (LSE:LLOY) is among the other UK names expected to benefit from broader non-NII trends.

Valuations across the sector remain undemanding, according to Citi, with the sector trading on 1.6x price-to-tangible book for a return on tangible equity of around 16%, which gives an implied cost of equity of roughly 11% versus the long-run average nearer 12%.

"Although valuation is no longer quite as attractive, it does not look expensive either after considering growth prospects. Furthermore it still screens as cheap relative to other sectors."

Wholesale banks still have the highest implied CoEs, including Barclays PLC (LSE:BARC), HSBC, BNP Paribas and SocGen.

Stablecoin potential?
Citi also devoted a section to the potential adoption of stablecoins.

While concerns about stablecoin disruption have been raised in relation to bank business models, Citi views the risks as overstated. Though stablecoins are often positioned as faster and cheaper alternatives for cross-border payments, Citi countered this.

"Even in the near term, any speed advantage of stablecoins may not matter as much once you factor in the friction of on/off

ramps between on-chain money and fiat rails."

Cost differences may also narrow over time, too. 

"As stablecoin issuers face bank-like supervision, with increased obligations around compliance, reporting, and reserve management, cost structures could gradually converge with traditional banking," the analysts said.

Future differentiation is seen as relying more on programmability and integration than on narrow cost or speed benefits, with stablecoins potentially gaining traction among smaller merchants and in underserved markets.

Montreal, QC – TheNewswire - December 12, 2025 -- Ecolomondo Corporation (TSXV: ECM) (OTCQB: ECLMF) (the “ Company ” or “ Ecolomondo ”), a leading Canadian innovator in sustainable scrap tire recycling technology, has issued stock options to employees, Board members and consultants, to purchase 1,930,000 common shares of the Company in recognition of their contribution to the Company's and the Hawkesbury plant's success.   Each stock option allows the optionee to purchase 1 common share of the Company at an exercise price of $0.20 per share for a period of ten (10) years from the date of the grant. The Options issued to directors and officers will vest over a period of one (1) year (1/2 on the date that is six months from the date of grant, and 1/2 based on performance, attendance and participation on the date that is 12 months from the date of grant) and the Options issued to employees and consultants will vest over a period of three (3) years (1/3 on each anniversary of the date of grant), subject to earlier vesting or termination in accordance with the stock option plan of the Company. The Options are subject to the approval of the TSX Venture Exchange.

HomeStock IdeasLong IdeasTech 

SummaryPenguin Solutions enters FY26 with two growth engines—Advanced Computing and Integrated Memory—driving a more balanced and resilient business model.Integrated Memory delivered 30% annual growth and 38% in Q4, with CXL traction and the SK hynix partnership enhancing visibility and strategic positioning.The Dell partnership in Advanced Computing is expanding PENG’s customer base and improving revenue conversion, supporting more predictable execution.I maintain a Buy rating, viewing PENG as undervalued given its dual-segment growth, improved profitability, and underappreciated AI exposure. kohei_hara/iStock via Getty Images

Penguin Solutions, Inc. (PENG) enters the new fiscal year in a much better place than it was a year ago. I have viewed this business as a fairly volatile one because Advanced Computing can swing

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

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Customer tools and tips are available to manage energy use and bills as temperatures drop below seasonal norms

, /PRNewswire/ -- With frigid temperatures forecast to arrive early next week, Duke Energy is committed to helping customers save energy and money as heating systems work harder to combat the cold. By acting now, customers can take more control of their energy use – even as temperatures drop well below freezing.

Simple actions, more savings

Set your thermostat to the lowest comfortable setting. Every degree lower means more money in your pocket, without sacrificing comfort.
Seal leaks and insulate. Prevent cold drafts and keep warmth inside – saving energy and reducing heating bills.
Change air filters regularly. Clean filters improve airflow and system performance, reducing energy consumption and keeping your home more comfortable.
Let the sun help heat your home. Open blinds and curtains on sunny days to naturally warm your space, and then close them at night to keep the heat in.
Operate ceiling fans clockwise in winter. Push warm air down for greater comfort.

Programs that put customers first

Customers participating in Duke Energy's efficiency programs have seen more than $1 billion in bill savings since 2019, highlighting the meaningful impact participating in the programs and taking steps to become more energy efficient can have during colder months.

Free home energy assessment: Get a complimentary energy efficiency kit, personalized usage report and expert recommendations – so you can start saving right away.
Rebates for upgrades: Save on energy-efficient equipment and insulation upgrades through Smart $aver®.
Bill credits: Enroll your smart thermostat and water heater in Power Manager®/EnergyWise® Home and get paid for automatically shifting energy use to off-peak times.
Income-qualified weatherization assistance: Income-qualified customers can get free energy upgrades, such as insulation, air sealing and HVAC repairs, to reduce bills and improve comfort year-round.

For even more ways to save, visit duke-energy.com/SeasonalSavings.

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. 

Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. 

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. 

24-Hour: 800.559.3853 

SOURCE Duke Energy

Key Takeaways HEI is highlighted as a strong pick due to aerospace strength, liquidity and low debt.HEI has delivered an average earnings surprise of 13.35% across the last four quarters.HEI benefits from rising air travel demand and maintains a strong foothold in U.S. defense.
HEICO’s (HEI - Free Report) robust presence in the aerospace market, solid liquidity and low debt are strong positives. Given its growth prospects, HEI makes for a solid investment option in the Aerospace sector.

Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.

Growth Projections & Surprise History of HEIThe Zacks Consensus Estimate for fiscal 2025 earnings per share is pegged at $4.77, which indicates year-over-year growth of 30%.

The consensus estimate for fiscal 2025 sales is $4.43 billion, which indicates year-over-year growth of 14.8%.

HEI’s long-term (three-to-five years) earnings growth rate is pegged at 18.9%.

It delivered an average earnings surprise of 13.35% in the last four quarters.

HEI Stock’s Debt PositionCurrently, the company’s total debt-to-capital is 36.8%, better than the industry’s average of 49.4%.

HEI’s times interest earned (TIE) ratio at the end of the fiscal third quarter of 2025 was 7.27. A TIE ratio of more than one indicates that the company will be able to meet its interest payment obligations in the near term without any problems.

HEI’s LiquidityHEI’s current ratio at the end of the fiscal third quarter of 2025 was 3.35. A current ratio of greater than one indicates the company’s ability to meet its future short-term liabilities without difficulties.

Heico’s Expanding Commercial and Defense MomentumHeico is benefiting from rising global air travel, which is driving higher demand for its aftermarket replacement parts and repair and overhaul services. This growth has supported strong results in the Flight Support Group, with higher sales and improved margins reflecting steady momentum in the aerospace aftermarket. With industry projections pointing to continued increases in air passenger volumes, Heico remains well-positioned to capture growing maintenance and component demand across commercial aviation.

The company also maintains a strong foothold in the U.S. defense sector, supplying critical aircraft parts, electrical interconnect products and support services to the Department of Defense and allied partners. Its Electronics Technologies Group adds further exposure to defense satellite and spacecraft programs, aligning well with rising U.S. defense spending. Supported by solid liquidity and a disciplined acquisition strategy that expands its product portfolio and customer base, Heico is poised for sustained long-term growth across both commercial and defense markets.

HEI Stock’s Price PerformanceShares of HEI have gained 32.6% in the year-to-date period compared with the industry’s 31.7% growth.

Image Source: Zacks Investment Research

Other Stocks to ConsiderOther top-ranked stocks from the same industry are Astronics (ATRO - Free Report) , Curtiss-Wright (CW - Free Report) and Woodward (WWD - Free Report) . Astronics sports a Zacks Rank #1 (Strong Buy) at present, while Curtiss-Wright and Woodward carry a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Astronics delivered an average earnings surprise of 59.10% in the last four quarters. The Zacks Consensus Estimate for ATRO’s 2025 sales is pinned at $856.9 million, which indicates year-over-year growth of 7.7%.

Curtiss-Wright delivered an average earnings surprise of 7.75% in the last four quarters. The consensus estimate for CW’s 2025 sales is pinned at $3.44 billion, which indicates year-over-year growth of 10.2%.

Woodward delivered an average earnings surprise of 14.66% in the last four quarters. The Zacks Consensus Estimate for WWD’s 2025 sales is pinned at $3.96 billion, which indicates year-over-year growth of 11.1%.

Shares of Fermi plunged 40% on Friday after the data center real estate investment company said a prospective tenant had terminated a deal to help fund construction at its Texas site, dealing a setback to the newly listed firm.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Direxion Daily Semiconductor Bear 3x Shares (NYSEARCA:SOXS) offers a contrarian bet against the AI boom, delivering three times the inverse daily performance of semiconductor stocks. While the ETF has attracted attention for its dividend distributions, understanding how this fund generates income reveals why it’s fundamentally different from traditional dividend investments. 

How SOXS Generates Such High Distributions
SOXS doesn’t hold semiconductor stocks or collect dividends from companies like NVIDIA (NASDAQ:NVDA) or Advanced Micro Devices (NASDAQ:AMD). Instead, the fund uses derivatives including swaps and futures to achieve -3x daily exposure to the ICE Semiconductor Index. Approximately 66% of the fund’s $1.1 billion in assets sits in cash collateral, primarily Goldman Sachs (NYSE:GS) Treasury Instruments, generating interest income. Additional distributions come from gains when semiconductor stocks decline and the fund profits from short positions.

The fund paid $0.056 per share in its September 2025 distribution. Based on the current price of $2.95, this translates to an annualized yield of approximately 7.6%. Some sources cite yields approaching 20% by projecting forward based on historical volatility in distributions, which ranged from $0.056 to $0.185 quarterly throughout 2025.

Distribution Sustainability and Total Return Reality
SOXS distributions are highly unstable because they depend on two volatile factors: interest rates on cash collateral and gains from semiconductor stock declines. When semiconductors rally, as they have throughout 2025, the fund generates minimal profits from short positions while experiencing severe price decay from daily rebalancing costs.

The fund’s 0.97% expense ratio and daily reset mechanism create structural headwinds. SOXS has declined 87% year-to-date in 2025, falling from $22.12 to $2.95. Over five years, the fund has lost 99.86% of its value. A 10% yield provides little consolation when the underlying ETF loses 87% of its value.

Rent the Runway, Inc. (RENT) Q3 2026 Earnings Call December 12, 2025 8:30 AM EST

Company Participants

Cara Schembri - Chief Legal, Secretary & Administrative Officer
Jennifer Hyman - Co-Founder, CEO, President & Director
Siddharth Thacker - Chief Financial Officer

Presentation

Operator

Greetings. Welcome to Rent the Runway Third Quarter 2025 Earnings Call. [Operator Instructions]. Please note that this conference is being recorded. I'll now turn the conference over to Cara Schembri, Chief Administrative Officer and General Counsel. Thank you, Cara. You may now begin.

Cara Schembri
Chief Legal, Secretary & Administrative Officer

Hello, everyone, and thanks for joining us today. During this call, we will make references to our Q3 2025 earnings presentation, which can be found in the Events and Presentations section of our Investor Relations website.

Before we begin, we would like to remind you that this call will include forward-looking statements. These statements include guidance and underlying assumptions for the fourth quarter and fiscal year 2025 and statements regarding the recapitalization transactions and our business initiatives. These statements are subject to various risks, uncertainties and assumptions that could cause our actual results to differ materially.

These risks, uncertainties and assumptions are detailed in today's press release as well as our filings with the SEC, including our Form 10-Q that we plan to file shortly. We have no obligation to update any forward-looking statements or information, except as required by law. During this call, we will also reference certain non-GAAP financial information.

The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Reconciliations of GAAP to non-GAAP measures can be found in our press release, slide presentation posted on our Investor Relations website and our SEC filings. And with that, I'll turn it over to

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