Hercules Capital, Inc. (NYSE:HTGC – Get Free Report)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $16.21 and traded as high as $16.34. Hercules Capital shares last traded at $16.0760, with a volume of 1,528,471 shares trading hands.
Analyst Ratings Changes
A number of brokerages recently issued reports on HTGC. Weiss Ratings lowered Hercules Capital from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 13th. LADENBURG THALM/SH SH reduced their price objective on Hercules Capital from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, UBS Group raised Hercules Capital from a “neutral” rating to a “buy” rating and lifted their target price for the company from $15.50 to $18.50 in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Hercules Capital currently has a consensus rating of “Moderate Buy” and an average target price of $18.89.
Read Our Latest Research Report on Hercules Capital
Hercules Capital Price Performance
The firm has a 50-day simple moving average of $17.07 and a 200-day simple moving average of $16.21. The firm has a market cap of $3.01 billion, a P/E ratio of 8.00 and a beta of 0.82. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03.
Hercules Capital (NYSE:HTGC – Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $134.41 million for the quarter, compared to analyst estimates of $146.71 million. Hercules Capital had a return on equity of 16.01% and a net margin of 67.68%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, analysts forecast that Hercules Capital, Inc. will post 1.95 EPS for the current year.
Hercules Capital Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend was Tuesday, August 11th. This is an increase from Hercules Capital’s previous quarterly dividend of $0.07. Hercules Capital’s payout ratio is presently 79.60%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of HTGC. Investment Research Partners LLC boosted its stake in Hercules Capital by 18.8% in the 3rd quarter. Investment Research Partners LLC now owns 30,613 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 4,836 shares in the last quarter. Secure Asset Management LLC grew its position in Hercules Capital by 5.8% during the 3rd quarter. Secure Asset Management LLC now owns 82,333 shares of the financial services provider’s stock worth $1,384,000 after purchasing an additional 4,496 shares during the last quarter. ShoreHaven Wealth Partners LLC acquired a new position in Hercules Capital during the 3rd quarter valued at approximately $269,000. Avail Investment Partners LLC increased its stake in Hercules Capital by 23.6% during the 3rd quarter. Avail Investment Partners LLC now owns 15,235 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 2,910 shares in the last quarter. Finally, KFG Wealth Management LLC increased its stake in Hercules Capital by 4.5% during the 3rd quarter. KFG Wealth Management LLC now owns 14,981 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 646 shares in the last quarter. Institutional investors own 19.69% of the company’s stock.
(Get Free Report)
Hercules Capital, Inc is a specialty finance company and business development company that provides financing to venture capital- and private equity-backed companies. Founded in 2003, the company was formerly known as Hercules Technology Growth Capital and focuses on supporting businesses in technology, life sciences, and other innovation-oriented industries.
Hercules Capital offers secured and unsecured venture debt, growth capital, equipment financing, working capital facilities, acquisition financing, and recapitalization solutions.
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Marvell Technology rozšířila smlouvu s Alphabet na dodávky AI čipů v hodnotě 120 mld. USD na zhruba 6,5 roku; smlouva začne platit ve fiskálním roce 2029.
Marvell Technology (MRVL +4.06%) is deeply involved in artificial intelligence infrastructure, with its optical chips, application-specific integrated circuits (ASICs), data storage controllers, and CXL memory products. This broad portfolio of products explains why Nvidia CEO Jensen Huang said back in June that he expects Marvell Technology to be the next $1 trillion company.
Given its current market cap of around $215 million, that prediction implies a nearly 5x return from current levels, a gain that could help mint many new millionaires, and the fundamentals certainly look promising. Here's what investors should know.
Image source: Getty Images.
Marvell's long-term deal with Alphabet gives it a massive backlog
Marvell Technology is already doing well. In its fiscal 2027 second quarter, which ended Aug. 1, the company delivered 37% year-over-year revenue growth, with "AI-related bookings remain[ing] exceptionally robust," according to Marvell Technology CEO Matt Murphy. He also expects AI revenue to accelerate further in fiscal 2027, prompting the company to raise its guidance for fiscal 2027 and 2028.
$237.09+$9.26 (+4.06%)
NASDAQ · As of 4:00 PM ET 10/19/26
Moreover, after that quarter ended (but before its report came out), the company announced a big expansion of its AI chip deal with Alphabet. It amounts to $120 billion over roughly six and a half years, and that business arrangement starts in Marvell's fiscal 2029.
Marvell Technology will continue to strengthen its market position in the meantime, and if it can land big deals like that with other tech giants, it could see an extended rally. Marvell Technology generated $2.74 billion in sales in its fiscal Q2 while boosting net profit margins, and its guidance for the upcoming quarter implies 15% sequential revenue growth at the midpoint.
A high valuation is the price of entry
Although Marvell Technology has several attractive catalysts ahead of it, the stock isn't cheap. It trades at a forward P/E ratio of 62. Other chipmakers such as Broadcom and Nvidia offer cheaper valuations and solid growth prospects. Furthermore, those two companies are exhibiting higher revenue growth rates than Marvell Technology.
While Nvidia and Broadcom look more attractive if you only consider next year, Marvell Technology may be the better choice when considered over a five-year time horizon. Its big deal with Alphabet will contribute roughly $5 billion per quarter in sales once it starts, and that's almost two times Marvell Technology's Q2 FY27 revenue.
Marvell Technology is still of a size where a single new contract of that magnitude can change the investment thesis in the stock overnight. Nvidia is on its way to more than $100 billion in quarterly revenue, so it would need multiple large contracts to sustain meaningful growth. Marvell Technology is well-positioned to gain market share as optical chips and ASICs gain traction. A few more major contracts could spark a rally that lifts its market cap closer to Jensen Huang's $1 trillion prediction.
Marc Guberti has positions in Broadcom. The Motley Fool has positions in and recommends Alphabet, Broadcom, Marvell Technology, and Nvidia. The Motley Fool has a disclosure policy.
Marvell vyplatí 29. října čtvrtletní dividendu ve výši 0,06 USD na akcii; nárok na ni mají akcionáři zapsaní k 10. říjnu. Držitel 100 akcií MRVL obdrží 6 USD.
The next Marvell (NASDAQ: MRVL) dividend, the last one this year, is scheduled to come late next week.
Namely, the semiconductor company is once again going to reward shareholders with $0.06 per share on Thursday, October 29, with investors as of October 10 being eligible for the payout.
MRVL dividend schedule. Source: Dividend.com
Accordingly, 100 MRVL shares are going to yield $6 in quarterly Marvell stock dividends next week. Based on the current MRVL stock price of $237.09, such an investment is worth $23,709 at press time. At the ex-dividend date price of $275.28, it was worth $27,528.
Doing the math, 50 shares are going to net $3, while 200 shares are going to net $12. To get $100 in quarterly dividends, investors will need to hold 1,667 shares, a position now worth $395,151.
Marvell dividend still continues unchanged
As such, the payout remains unchanged since the company started paying dividends in 2012. Indeed, the only changes made to the dividend included the total yearly payout, which was a bit lower in 2017, as one quarter went without dividends.
Marvell offers investors a modest dividend yield of 0.1%, per Dividend.com estimates, significantly below the technology sector’s average yield of 1.37%. It also pays dividends quarterly, providing shareholders with passive income four times a year, with some already mentioned historical exceptions.
However, the current yield suggests that dividend income remains a relatively small part of the overall investment case. Indeed, Marvell’s forward payout ratio stands at just 3.30%, indicating that the company distributes only a small portion of its projected earnings as dividends.
For investors pursuing dividend-capture strategies, Marvell’s average price recovery period is 6.7 days. This metric estimates how long the stock typically takes to recover its pre-dividend price after the ex-dividend date, although actual recovery times can vary based on broader market conditions.
Featured image via Shutterstock
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Cognizant uzavřel s Ingenico pětiletou smlouvu na modernizaci globálních IT operací, včetně zavádění umělé inteligence do infrastruktury, bezpečnosti a dat.
Five-year agreement will help simplify and modernize Ingenico's global technology operations
, /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced that it has been chosen by Ingenico, the smart technology powering in-person commerce, as its global strategic technology partner. Under the five-year agreement, Cognizant has been tasked with embedding AI across Ingenico's infrastructure and operations, security and data to support the modernization of Ingenico's technology operations, including infrastructure, security, business and corporate applications and data systems, while providing managed services across end-user services, service desk, application support and engineering.
Every day, Ingenico's smart technology powers millions of interactions worldwide, helping businesses deliver better customer experiences, build loyalty and drive growth. By combining seamless payment acceptance with powerful data and insights, Ingenico enables customers to reduce complexity and get more from every interaction, all backed by the security, reliability and trust the company is known for. To support its next phase of growth and innovation, Ingenico sought a strategic technology partner to simplify and modernize its technology operations and create a scalable foundation for future growth.
Cognizant will support the consolidation and modernization of Ingenico's IT environment, helping strengthen security, improve operational efficiency and increase agility across the business.
"The payments industry continues to evolve rapidly, with growing demands around security, resilience, operational efficiency and innovation," said Rohit Gupta, UK&I Managing Director at Cognizant. "We're proud to have been selected by Ingenico as a strategic partner. Together, we'll help modernize key operations, strengthen core technology foundations and support Ingenico's long-term growth ambitions."
"At Ingenico, we're constantly evolving our technology and capabilities to help our customers grow, simplify complexity and deliver superior customer experiences," commented Tim Fulton, CIO at Ingenico. "As we looked for a partner to support the next phase of that journey, Cognizant stood out through its industry expertise, global scale and understanding of our business. Together, we will modernize key IT operations, strengthen the foundations that underpin the trusted solutions our customers rely on, and increase agility across the business to support future growth and innovation."
About Cognizant
Cognizant (NASDAQ: CTSH) is an AI builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization's unique context into technology systems that amplify human potential, realize tangible returns and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.ai or @cognizant.
About Ingenico
Ingenico is the smart technology powering in-person commerce. Every day, its intelligent solutions help businesses turn millions of payment interactions into opportunities to deliver superior customer experiences, build loyalty and increase revenue.
With more than four decades of innovation and expertise, over 3,000 employees worldwide, and tens of millions of devices deployed across more than 120 countries, Ingenico combines seamless acceptance with powerful data and insights. Its intelligent solutions help businesses reduce complexity, grow faster and get more from every customer interaction, backed by the reliability, security and trust for which Ingenico is known. For more information, visit www.ingenico.com
Enterprise Products Partners vyplácí 0,56 USD za podílovou jednotku čtvrtletně, tedy zhruba 2,24 USD ročně; pro roční příjem 2 000 USD je potřeba asi 893 jednotek.
Enterprise Products Partners (EPD -0.05%) is a master limited partnership (MLP) specializing in the ownership of oil and gas pipelines. Along with sporting a high forward dividend yield of 6.1%, Enterprise Products Partners has a long track record of dividend growth. The MLP has raised its dividend, technically known as a distribution, for 28 consecutive years.
This combination of high yield and a history of dividend growth makes it a strong choice for investors seeking steady, growing portfolio income. Better yet, based on its payout ratio and growth history, this high-yielder has a strong history of dependable, consistent payout increases.
Image source: Getty images.
How many EPD shares do you need to earn $2,000 per year in dividends?
Currently, Enterprise Products Partners pays unitholders $0.56 per unit quarterly, or around $2.24 per unit annually. Hence, to generate $2,000 per year in dividend income, investors need around 893 shares. With shares priced at $36.69, this position is worth $32,764.
$36.80-$0.02 (-0.05%)
NYSE · As of 4:00 PM ET 10/19/26
Enterprise Products Partners has raised its payout by around 4% annually over the past five years, 3.6% over the past 10 years, and 4.8% over the past 20 years. While past performance does not guarantee future results, this consistency of 3.5%-5% annual dividend growth over decades strongly signals similar growth in the years ahead.
Lower payout ratio signals payout stability
In terms of dividend sustainability, Enterprise Products Partners takes a slightly more conservative approach to paying out distributable cash flow (DCF) to unitholders. While competing pipeline stocks and master limited partnerships pay out 65% and sometimes more than 70% of DCF, based on its 1.7x coverage ratio, this MLP distributes less than 60% of its DCF in the form of cash payouts.
That's not all. Enterprise Products Partners has steadily grown its operational DCF over the last 20 years, even amid macro challenges such as the late 2000s financial crisis, the mid-2010s oil price collapse, and the COVID-19 pandemic of 2020. During this time, DCF has nearly quadrupled. All of these factors make this pipeline stock a standout.
Ministerstvo financí státu Aljaška ve třetím čtvrtletí snížilo svůj podíl ve společnosti Glaukos o 48,6 % prodejem 9 393 akcií; nyní drží 9 950 akcií v hodnotě 1,633 milionu USD.
State of Alaska Department of Revenue lowered its stake in Glaukos Corporation (NYSE:GKOS – Free Report) by 48.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,950 shares of the medical instruments supplier’s stock after selling 9,393 shares during the period. State of Alaska Department of Revenue’s holdings in Glaukos were worth $1,633,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the stock. Allworth Financial LP bought a new stake in shares of Glaukos during the 2nd quarter worth $28,000. CoreCap Advisors LLC acquired a new position in shares of Glaukos in the 3rd quarter worth $33,000. Fortitude Family Office LLC acquired a new stake in shares of Glaukos during the third quarter worth $36,000. Parallel Advisors LLC raised its position in shares of Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 226 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Glaukos by 523.4% during the second quarter. IFP Advisors Inc now owns 293 shares of the medical instruments supplier’s stock worth $41,000 after purchasing an additional 246 shares during the period. Institutional investors own 99.04% of the company’s stock.
Glaukos Price Performance NYSE GKOS opened at $166.98 on Tuesday. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $191.62. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average price is $172.08 and its two-hundred day moving average price is $148.69.
Glaukos (NYSE:GKOS – Get Free Report) last announced its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.07. The company had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company’s revenue was up 49.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) EPS. As a group, sell-side analysts forecast that Glaukos Corporation will post -0.32 earnings per share for the current year. Insiders Place Their Bets In related news, CFO Alex R. Thurman sold 20,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at approximately $7,908,787.78. This represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph Gilliam sold 60,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the completion of the sale, the chief operating officer directly owned 72,588 shares of the company’s stock, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 83,025 shares of company stock worth $14,950,006. 5.90% of the stock is owned by corporate insiders.
Analyst Ratings Changes A number of equities analysts recently weighed in on the company. Stifel Nicolaus increased their price target on Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Truist Financial lifted their price target on Glaukos from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. UBS Group initiated coverage on Glaukos in a report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Glaukos from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Finally, Needham & Company LLC upped their price objective on shares of Glaukos from $150.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.43.
Check Out Our Latest Report on Glaukos
Glaukos Profile (Free Report)
Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.
Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.
Featured Stories Five stocks we like better than Glaukos Tesla’s Roadster Reveal Hints at 2 Much Bigger Moves The AI Sell-Off Continues—These 3 Stocks Keep Raising Guidance Anyway Mr. Wonderful’s Test for AI Data Center Stocks: Power, Permits, and Tenants Alcoa Beat Earnings, But Can It Escape the Aluminum Bears? Want to see what other hedge funds are holding GKOS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glaukos Corporation (NYSE:GKOS – Free Report).
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Counterpoint Mutual Funds ve třetím čtvrtletí snížil svůj podíl ve společnosti Arista Networks o 68,4 % prodejem 3 078 akcií; na konci období držel 1 420 akcií v hodnotě 289 000 USD.
Counterpoint Mutual Funds LLC cut its holdings in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 68.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,420 shares of the technology company’s stock after selling 3,078 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Arista Networks were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ABS Investment Management LLC acquired a new position in shares of Arista Networks in the 2nd quarter valued at about $29,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Arista Networks in the second quarter worth about $29,000. Kelleher Financial Advisors purchased a new stake in shares of Arista Networks in the second quarter worth about $31,000. Cornerstone Financial Management LLC grew its holdings in Arista Networks by 61.9% during the second quarter. Cornerstone Financial Management LLC now owns 183 shares of the technology company’s stock worth $31,000 after acquiring an additional 70 shares during the period. Finally, Sankala Group LLC acquired a new stake in Arista Networks during the fourth quarter worth about $27,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Arista Networks stock opened at $182.88 on Tuesday. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41. The business has a 50-day moving average price of $198.29 and a 200 day moving average price of $175.18. The firm has a market cap of $230.65 billion, a PE ratio of 56.01, a P/E/G ratio of 2.06 and a beta of 1.60.
Arista Networks (NYSE:ANET – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%. Arista Networks’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, sell-side analysts expect that Arista Networks, Inc. will post 3.79 EPS for the current year.
Wall Street Analysts Forecast Growth
ANET has been the subject of several recent research reports. Truist Financial lifted their price target on Arista Networks from $175.00 to $234.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. TD Cowen upped their price objective on Arista Networks from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Jefferies Financial Group set a $250.00 price objective on shares of Arista Networks in a research note on Wednesday, August 5th. Rosenblatt Securities raised their price objective on shares of Arista Networks from $210.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Evercore reaffirmed an “outperform” rating on shares of Arista Networks in a report on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $235.45.
Check Out Our Latest Report on ANET
Insiders Place Their Bets
In other news, insider Kenneth Duda sold 17,333 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $203.50, for a total transaction of $3,527,265.50. Following the completion of the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $2,640,616. This represents a 57.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 300,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $198.95, for a total value of $59,685,000.00. Following the transaction, the insider owned 180,543,048 shares in the company, valued at $35,919,039,399.60. This trade represents a 0.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,584,116 shares of company stock valued at $733,396,013. 2.70% of the stock is owned by insiders.
Arista Networks Profile
(Free Report)
Arista Networks, Inc develops and sells cloud networking solutions for data centers, cloud service providers, enterprises and specialized computing environments. The company’s products are designed to support high-performance, scalable and automated networks used for cloud computing, artificial intelligence, data analytics and other demanding applications.
Arista’s portfolio includes data center and campus switches, routing platforms, wireless networking products, network operating software and network management tools.
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Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET – Free Report).
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Highwoods Properties zveřejní hospodářské výsledky za třetí čtvrtletí 2026 v úterý po uzavření trhu; analytici očekávají zisk 0,2131 USD na akcii a tržby ve výši 215,61 milionu USD.
Highwoods Properties (NYSE:HIW – Get Free Report) is expected to be issuing its Q3 2026 results after the market closes on Tuesday, October 27th. Analysts expect the company to announce earnings of $0.2131 per share and revenue of $215.61 million for the quarter. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. Individuals may review the information on the company’s upcoming Q3 2026 earnings overview page for the latest details on the call scheduled for Wednesday, October 28, 2026 at 11:00 AM ET.
Highwoods Properties (NYSE:HIW – Get Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $216.38 million during the quarter, compared to the consensus estimate of $212.15 million. Highwoods Properties had a return on equity of 7.06% and a net margin of 20.74%. Highwoods Properties’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, analysts expect Highwoods Properties to post $3.55 EPS for the current fiscal year and $3.66 EPS for the next fiscal year.
Highwoods Properties Stock Performance
Shares of NYSE:HIW opened at $28.50 on Tuesday. The firm has a market cap of $3.14 billion, a PE ratio of 18.75 and a beta of 1.06. The firm’s 50 day simple moving average is $30.38 and its 200-day simple moving average is $28.82. Highwoods Properties has a one year low of $20.45 and a one year high of $35.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.68 and a current ratio of 1.68.
Highwoods Properties Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 17th were issued a $0.50 dividend. The ex-dividend date was Monday, August 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.0%. Highwoods Properties’s payout ratio is presently 131.58%.
Analyst Upgrades and Downgrades
HIW has been the topic of several research analyst reports. Weiss Ratings raised Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a report on Wednesday, August 5th. Wells Fargo & Company lifted their target price on Highwoods Properties from $26.00 to $32.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 1st. Morgan Stanley lifted their target price on Highwoods Properties from $23.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Citigroup upped their target price on Highwoods Properties from $24.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Eight equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Highwoods Properties presently has an average rating of “Hold” and an average price target of $32.00.
Read Our Latest Stock Analysis on Highwoods Properties
(Get Free Report)
Highwoods Properties, Inc (NYSE: HIW) is a real estate investment trust that owns, develops, leases and manages primarily office properties. The company focuses on high-quality buildings in prominent business districts and serves corporate, professional-services and other commercial tenants.
Highwoods’ portfolio is concentrated in major Sun Belt and Southeast markets, including Atlanta, Charlotte, Orlando, Raleigh, Richmond, Nashville and Tampa. In addition to leasing office space, the company provides property management and related services and pursues select development and redevelopment opportunities to support its portfolio.
Founded in 1978, Highwoods Properties became a publicly traded company in 1994.
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Teradata představila funkce ochrany dat pro podniková řešení AI, včetně anonymizace, postkvantového zabezpečení, neměnných záloh a vysoké dostupnosti databází.
New capabilities protect the sensitive data and intelligence behind enterprise AI while keeping mission-critical operations available and recoverable
, /PRNewswire/ -- Teradata (NYSE: TDC) today announced new privacy, security, and resiliency capabilities designed to address one of the defining challenges of enterprise AI: how sensitive data is protected, who and what can access it, and whether it remains available and recoverable when something goes wrong. Teradata addresses all three through an integrated approach that reduces raw identity exposure, enforces protection closer to the data, and keeps the intelligence powering AI available and recoverable. In practice, that means protecting the intelligence behind AI without diminishing what makes it valuable.
Key Capabilities
Poly-Anonymization®: reduces raw identity exposure while preserving the relationships and utility AI and analytics require Format-preserving encryption: protects sensitive values without changing their format or breaking downstream systems Post-quantum security and readiness: strengthens protection against emerging quantum-era threats through Anonomatic PII Vault® and TLS 1.3 hybrid-key exchange for data in transit Immutable backup protection: prevents recovery points from being modified or deleted, strengthening cyber-recovery readiness Database-level high availability: an additional availability layer for mission-critical workloads, distinct from disaster recovery Why It Matters Now
As AI becomes mission-critical, it expands both the value and the vulnerability of enterprise data. Sensitive information now moves among users, applications, models, and agents, making it harder to secure at the boundary alone. AI is designed to combine disparate information to find patterns and make decisions, which means data that isn't individually identifiable can become so when AI brings it together.
Executive Quote
"Privacy, security, and resiliency have historically been treated as separate problems with separate solutions. That approach doesn't hold up when AI is moving sensitive data across users, applications, models, and agents simultaneously. This announcement reflects how we think those capabilities need to work together, and it's the foundation for how we intend to extend that protection as AI environments grow more complex and the actors operating within them multiply."
-Sumeet Arora, Chief Product Officer, Teradata
Privacy Protection
Access control determines who can see sensitive data. Identity reduction changes how much identifying information needs to be present in the analytical environment in the first place. Teradata combines both, through an OEM partnership with Anonomatic, whose privacy capabilities are natively available to Teradata customers.
Poly-Anonymization replaces PII fields with a stable identifier while holding underlying identity separately within Anonomatic PII Vault, a post-quantum-secure environment built with multiple layers of overlapping security controls designed to protect sensitive identity information. Authorized users can restore identity when a legitimate use case requires it, but everyone else works with data that retains its analytical structure, its relationships, and its utility. The result is an analytical environment where sensitive data can be used for AI, analytics, testing, and approved collaboration without broadly exposing who the data is about.
Unlike approaches that rely solely on mathematically reversible encryption, PII Vault combines identity separation, Poly-Anonymization, access controls, and additional layered protections to reduce identity exposure while retaining the utility required for AI and analytics. Format-preserving encryption extends that protection to situations where a value's structure matters to downstream systems, protecting sensitive data without breaking the applications and workflows built around it.
Testing at large scale demonstrated that Teradata's Anonomatic-powered privacy-preserving controls can support enterprise analytical workloads without the performance tradeoffs organizations typically associate with data privacy. Multi-table join queries on protected data used fewer Teradata resources than equivalent queries on unprotected data, though results will vary by workload and configuration.
Partner Quote
"Enterprise AI creates a fundamentally different privacy challenge. Organizations need to use sensitive, individual-level data to build effective AI, but the traditional tools for protecting that data weren't designed to preserve what AI needs to work. Our partnership with Teradata makes it possible to reduce identity exposure at enterprise scale without forcing organizations to choose between protection and utility."
-Matt Fleck, Founder and CEO at Anonomatic, a data security software company focused on making PII data privacy secure, simple and cost effective
Native Data Security
Protection that follows the data requires controls enforced at the data layer, not just at the systems surrounding it. Teradata applies classification, policy enforcement, and access controls closer to the data itself. Together, these capabilities provide a governance-led foundation for protecting data and intelligence across users, applications, and workloads.
For data in transit, Teradata introduces post-quantum protection via TLS 1.3 hybrid-key exchange, which combines classical and post-quantum cryptographic algorithms in a single handshake. As quantum computing advances make current encryption standards increasingly vulnerable, organizations that establish cryptographic readiness now will be better positioned for what's ahead.
New native capabilities including dynamic data masking, data classification and tagging, column-level encryption, and global identity extend that protection across the data layer. Through a partnership with Immuta, a data authorization platform between identity and enterprise data, dynamic ABAC brings identity-aware, attribute-driven access control that enforces policy consistently across users and AI workloads without duplicating data or rewriting governance rules.
Teradata's security architecture is designed to extend as AI environments evolve, with ongoing investment in controls that govern how AI agents access and act on enterprise data within policy boundaries.
Enterprise Data Protection
For enterprises running AI at scale, a cyberattack is a threat to the data, context, and operational knowledge that AI depends on to function. Teradata Enterprise Data Protection addresses that reality through a workload-aligned approach that lets organizations match protection levels to business criticality rather than applying the same resiliency architecture to every workload. The objective is not simply to restore data, but to restore the trusted context AI needs to resume mission-critical operations.
Database-level high availability via real-time replication introduces an additional availability layer designed for continuous synchronization and low recovery objectives.
Immutable backup protection strengthens cyber-recovery readiness by ensuring recovery points cannot be modified, encrypted, or deleted, even by privileged administrators. As ransomware increasingly targets backup data specifically, protected recovery points have become as critical as the protection strategies built around them. Teradata's resiliency architecture is designed to extend as cyber threats and recovery requirements evolve.
Additional capabilities including backup and recovery, scheduled data synchronization, and disaster recovery round out a more consistent Enterprise Data Protection experience.
Availability
Privacy capabilities, powered by Anonomatic and delivered by Teradata, are available now for Teradata Cloud on AWS, Azure, and Google Cloud. Native data security capabilities including dynamic data masking, data classification and tagging, and column-level encryption are available on Teradata Cloud across AWS, Azure, and Google Cloud. Dynamic data masking, data classification and tagging are available for Teradata Factory and on-premises deployment options. Teradata Enterprise Data Protection including immutable backup protection is available now on Teradata Cloud across AWS, Azure, and Google Cloud with availability on Teradata Customer Cloud planned in the coming months. About Teradata
Teradata empowers enterprises to turn intelligence into autonomous action, grounding AI agents in deep business context and trusted data. As AI agents multiply, Teradata is the context foundation, governance layer, and performance backbone that companies need now. The Teradata Autonomous Knowledge Platform puts AI into production across cloud, on-premises, and hybrid environments.
Forward-Looking Statements
This press release contains "forward-looking statements" about the expectations, beliefs, plans, and intentions relating to Teradata's privacy, security, and resiliency capabilities. Such statements include statements regarding future product availability, capabilities, and offerings, and expected benefits to Teradata customers. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Teradata's results could differ materially from the results expressed or implied by the forward-looking statements made. Teradata undertakes no obligation, and does not intend to update the forward-looking statements. Factors that may cause actual results to differ materially from those in any forward-looking statements include: (i) delays and unexpected difficulties and expenses in executing the planned product capabilities and offerings, (ii) changes in the regulatory landscape related to AI and (iii) uncertainty as to whether customer adoption will justify the investments in the product capabilities and offerings. Further information on factors that could affect Teradata's financial and other results is included in the filings Teradata makes with the Securities and Exchange Commission from time to time.
The Teradata logo is a trademark, and Teradata is a registered trademark of Teradata Corporation and/or its affiliates in the U.S. and worldwide.
Poly-Anonymization and PII Vault are registered trademarks of Anonomatic, Inc.
New Teradata Factory and Teradata Sovereign Cloud on Google Distributed Cloud capabilities give enterprises greater control over where their most sensitive data and AI operate
, /PRNewswire/ -- Teradata (NYSE: TDC) today announced a portfolio of deployment and platform capabilities designed to give governments and enterprises greater control over the data, AI, and technology that power their most critical operations. This includes expanded capabilities for Teradata Factory with AI Studio and the availability of Teradata Sovereign Cloud on Google Distributed Cloud air-gapped environment.
What's New
Teradata's portfolio spans two complementary deployment models designed to address different sovereignty requirements.
The expanded capabilities for Teradata Factory with AI Studio bring a unified AI environment to operate on data, vectors, models, and agents directly into customer-controlled on-premises infrastructure. These capabilities include:
Tera, the agentic coworker for enterprise data work, including Tera Harness and Tera Context Engine
AgentStack, the complete AI agent development capabilities to build, manage, observe and operate agents through natural language, pro-code, low-code, and Model Context Protocol (MCP) interfaces
Model services, which provide machine learning operations and AI model management with pre-integrated model and bring-your-own-model support
Data pipelines for ingesting multimodal unstructured data, vector embeddings, vector storage and hybrid search for RAG
Analytics, native notebooks backed by in-database analytics and Teradata's Elastic Python Compute, built on Ray and Arrow, bring AI to where data lives
Teradata Sovereign Cloud on Google Distributed Cloud air-gapped brings Teradata's high-performance enterprise-scale analytics into fully isolated environments. Key benefits of running Teradata Sovereign Cloud on Google Distributed Cloud air-gapped include:
Full isolation: Deploy Teradata in an air-gapped environment with no external connectivity— keeping classified and regulated data fully contained
Security and compliance: Meet stringent regulatory requirements while maintaining complete audit trails and governance
High-performance analytics and AI at scale: Run complex queries across billions of rows and petabytes of data with predictable performance
Why it Matters
Research points to growing urgency. According to a 2026 BARC global study of 320 business and IT decision-makers, 62 percent of organizations cite data and AI in core business processes as a key driver of sovereignty requirements. A separate IBM study found that 91 percent of executives say they do not fully understand their organization's dependencies across AI vendors, models and infrastructure. And Gartner predicts that by 2030, more than 75 percent of enterprises outside the United States will have a digital sovereignty strategy, supported by a sovereign cloud strategy.
As AI moves into mission-critical operations, sovereignty is no longer only about where data resides. Organizations must also consider where AI runs, which models are used, how enterprise information is accessed, who operates the environment, and which external technologies their AI depends on.
This is particularly relevant for governments, defense organizations, regulated industries and critical infrastructure, where data residency, privacy, jurisdiction, operational continuity or national-security requirements can limit the use of traditional public-cloud AI services.
Teradata frames sovereignty across three dimensions: data sovereignty (where data lives and who can access it), operational sovereignty (who controls the environment and whether it can operate independently), and digital sovereignty (which technologies and AI models the organization depends on). An organization can satisfy data residency requirements and still lack full sovereignty if AI processing occurs externally, external administrators can access the environment, or operations stop when public connectivity is unavailable.
Teradata's sovereign portfolio is designed to address these requirements, bringing enterprise analytics and AI inside the boundaries that organizations control.
The Deployment Portfolio
Teradata Factory and Teradata Sovereign Cloud on Google Distributed Cloud air-gapped address different sovereignty requirements.
Teradata Factory is an integrated hardware and software rack that brings a private enterprise data and AI environment into customer-controlled on-premises infrastructure. It is designed for organizations that require direct physical control over their infrastructure and AI execution.
Teradata Sovereign Cloud on Google Distributed Cloud air-gapped provides a cloud operating model inside a sovereign boundary. The environment has no connection to the public internet and is operated by the customer. It is designed for organizations that need the operational model of cloud within a fully isolated, sovereign environment. Teradata provides the enterprise analytics layer within the air-gapped boundary, enabling organizations to support use cases such as operational reporting, mission analysis, intelligence fusion, training and simulation analytics, and defense logistics and sustainment inside the sovereign boundary.
Together, Teradata Factory and Teradata Sovereign Cloud on Google Distributed Cloud air-gapped support a hybrid approach to sovereign deployment, giving organizations the flexibility to run enterprise analytics and AI inside whichever boundary their requirements demand.
Executive Perspectives
"As AI becomes embedded in mission-critical decisions, organizations can no longer treat sovereignty as a data-location requirement. They need control over where AI runs, which models are used, who can operate the environment, and whether critical workloads can continue if external connectivity disappears. And increasingly, sovereignty is not a single location. It is an architecture that spans public cloud, sovereign cloud, and on-premises infrastructure. Teradata is uniquely built for that reality. We can run in all of those environments, connect them through Teradata Fabric without requiring data to move, and give organizations the freedom to choose the AI models and infrastructure that work for them."
— Sumeet Arora, Chief Product Officer, Teradata
"Google Distributed Cloud is purpose-built, air-gapped infrastructure that delivers complete technical, operational and software sovereignty. By combining Google Distributed Cloud's sovereign infrastructure with Teradata's AI and knowledge capabilities, we are giving enterprise customers in regulated industries the ability to innovate without sacrificing control over their data."
— Muninder Singh Sambi, VP of Product Management, Google Distributed Cloud
Availability
The expanded Teradata sovereign capabilities for Teradata Factory with AI Studio will be available in Q1 2027. Teradata Sovereign Cloud on Google Distributed Cloud air-gapped is available in Private Preview.
About Teradata
Teradata empowers enterprises to turn intelligence into autonomous action, grounding AI agents in deep business context and trusted data. As AI agents multiply, Teradata is the context foundation, governance layer, and performance backbone that companies need now. The Teradata Autonomous Knowledge Platform puts AI into production across cloud, on-premises, and hybrid environments.
Teradata Forward-Looking Statements
This press release contains "forward-looking statements" about the expectations, beliefs, plans, and intentions relating to Teradata's sovereign portfolio. Such statements include statements regarding future product availability, capabilities, and offerings, and expected benefits to Teradata customers. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Teradata's results could differ materially from the results expressed or implied by the forward-looking statements made. Teradata undertakes no obligation, and does not intend to update the forward-looking statements. Factors that may cause actual results to differ materially from those in any forward-looking statements include: (i) delays and unexpected difficulties and expenses in executing the planned product capabilities and offerings, (ii) changes in the regulatory landscape related to AI and (iii) uncertainty as to whether customer adoption will justify the investments in the product capabilities and offerings. Further information on factors that could affect Teradata's financial and other results is included in the filings Teradata makes with the Securities and Exchange Commission from time to time.
The Teradata logo is a trademark, and Teradata is a registered trademark of Teradata Corporation and/or its affiliates in the U.S. and worldwide.
TD Sequential na denním grafu PENGU vydal nákupní signál; pokud si token udrží růstovou strukturu, mohl by dosáhnout 0,013 USD, tedy přibližně o 70 % výše.
Pudgy Penguins has flashed a proven bullish indicator, pointing to a likely 77% upside potential.
In the last two months, the Tom DeMarm (TD) Sequential has proven itself quite reliable in predicting the token’s next movement on the chart.
Pudgy Penguins and the TD Sequential On August 7, the indicator registered a buy signal, which led to a 77.64% rally. It was around this time that LBank launched promotional campaigns. The token’s parent company Igloo Inc. also pushed Pudgy Penguins merchandise across North American Walmart and Target stores. Even more, its CEO Luca Netz brewed positive sentiment around a public listing, saying it could happen within two years.
Another previous signal was the September 15 buy signal, which netted 66.94% in profits. During this time, PENGU hit its absolute local bottom for the month, dropping to $0.00685 after selling pressure heightened when the ecosystem unlocked 712 million tokens.
However, over the next 10 days, PENGU staged a 63%-66% rebound, hitting a peak of $0.01114 on September 25 before stabilizing back near the $0.0099 range.
Other than the oversold technical bottom, other factors that fueled the mid-September squeeze were a PEPE cycle fractal and massive real-world retail visibility at Walmart and the Pengu World Tour in Seoul. The latter aligned with Korean Blockchain Week and the Pengu Minibot tease.
Finally was the September 25 sell signal, where PENGU lost 32.58%. After peaking at $0.01029, the token steadily bled back down to the $0.0068 support zone.
Contributors included a break in its Abstract blockchain network, the announcement that toy sale proceeds would not be utilized to perform token buybacks and burns.
From a technical perspective, its Relative Strength Index (RSI) signalled that it was heavily overbought. Even more, the token hit the higher timeframe resistance of $0.010 mark, causing a cascade of long liquidations as short sellers dominated.
PENGU near-term price prediction The TD Sequential has now flashed another buy on the daily chart, suggesting an upswing may be developing.
Source: Ali Charts
The timing aligns with its new availability for trading and holding on SoFi, America’s largest online lender (15 million members).
Furthermore, PENGU has maintained a sequence of higher highs and higher lows. Should it maintain this momentum, the token might just shoot to $0.013 (+70%).
Story Ends Here
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Cryptocurrency analytics company Santiment has shared new data on the remarkable accumulation of Bitcoin (BTC) by large investors. According to the company, the total assets of Bitcoin whales have reached their highest level since April.
According to data shared by Santiment, wallets holding between 10 and 10,000 BTC have accumulated approximately 88,987 BTC since September 19th. These purchases over the past month have pushed the total Bitcoin holdings of this investor group to over 13.69 million BTC, reaching their highest level in six months.
The analysis firm noted that this group of investors has shown a strong correlation with significant Bitcoin price movements in the past. Therefore, it was stated that the accumulation and selling behavior of large investors could provide important clues about the future direction of the market.
According to Santiment, the fact that whales continue to buy despite the fluctuations in Bitcoin’s price indicates that large whales prefer to increase rather than decrease their positions in the market.
The company argued that a strong uptrend for Bitcoin could emerge if the current accumulation trend continues. Highlighting Bitcoin’s decisive influence on the overall cryptocurrency market, Santiment stated that continued purchases by large investors could support not only the BTC price but also confidence in the altcoin market.
However, Santiment emphasized that whale accumulation alone does not guarantee a price increase.
*This is not investment advice.
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J.P. Morgan očekává, že riziko pro globální banky plynoucí z expozice vůči CoreWeave bude omezené, ačkoli firma má dluh přibližně 50 miliard USD a záporný volný peněžní tok očekává až do roku 2030.
Most global banks have limited exposure to CoreWeave (CRWV.O), J.P. Morgan estimated on Tuesday, after the Nvidia-backed cloud company's stocks and bonds slumped last week on investor worries over debt financing.
AI infrastructure spending has been rattling investors globally as tech companies are on a fundraising spree from private-credit investors, banks and bond markets to rapidly expand, while questions over returns on these investments swell.
While large US investment banks along with Japan's MUFG (8306.T) could potentially have exposure of about $1 billion to $3 billion in CoreWeave, most European and Asian players have less than $500 million, the Wall Street brokerage said.
Much of this is through delayed draw term loans, J.P. Morgan said, which are largely held through special-purpose vehicles, with capital released as projects meet milestones.
"From the perspective of financing banks, we view bank exposures to CoreWeave as well managed and very well secured," J.P. Morgan analysts led by Kian Abouhossein said in a note.
The brokerage said estimates are based on "simplified assumptions" because banks provide limited disclosure on their exposure to the AI investment cycle.
J.P. Morgan has an "overweight" rating on CoreWeave with a target price of $125 for 2027-end.
The cloud company has about $24 billion of committed delayed draw term loans, including $15 billion drawn and $9 billion undrawn, according to the brokerage.
CoreWeave, which provides high-performance computing infrastructure for AI, has secured tens of billions of dollars in contracts with major technology companies. The company has about $50 billion in debt.
Last week, the yield on CoreWeave's notes due 2031 touched almost 16%, while the cost of insuring against the company's debt rose to around 1,000 basis points.
The key risk facing banks is a mismatch between upfront spending on AI infrastructure and revenue received over time, J.P. Morgan said, adding that it expects CoreWeave's free cash flow to remain negative until 2030.
Artificial intelligence (AI) stocks have led this bull market over the past three years, pushing the S&P 500 to record highs. Investors were eager to get in on this promising technology early on, and in many cases, they've already greatly benefited. For example, chip designers such as Nvidia and Advanced Micro Devices, as well as cloud companies like Alphabet, have seen revenue and stock performance march higher.
In recent weeks, though, AI stocks have faced various headwinds, from general concerns about the economy to questions about AI spending. The spending issue has emerged as a key risk: If the revenue opportunity doesn't match these companies' spending levels, their earnings and stock performance could suffer.
Considering this, investors are seeking clues about the future AI opportunity. And they might gather some on Oct. 21, after the market closes. For this reason, my prediction is that this day and the one to follow might be huge for the stock market. Let's find out exactly what's on the agenda and zoom in on the details.
Image source: Getty Images.
Earnings season for tech giantsSo, what's happening on Oct. 21? The first of the "Magnificent Seven" companies involved in the AI race is set to report third-quarter earnings. These companies are Amazon, Alphabet, Apple, Meta Platforms (META -0.55%), Microsoft, Nvidia, and Tesla. Earnings season kicked off earlier this month, with reports from financial companies, and as of this week, the biggest tech companies will begin reporting.
And the company to kick things off is Meta. You might best associate this tech giant with social media, due to its ownership of Facebook, Messenger, Instagram, and WhatsApp. These are among the world's most popular social media apps, with 3.6 billion people using at least one every day. They also have been the major driver of revenue for Meta, with advertisers paying to access space across these apps.
META Meta Platforms$705.44-$3.89 (-0.55%)
NASDAQ · As of 4:00 PM ET 10/19/26
In the latest quarter, this generated a 28% gain in total revenue to $60 billion, with ad revenue making up $59 billion. And over time, this revenue stream has pushed earnings higher.
In recent years, though, Meta broadened its focus to include AI -- and it's betting heavily that this business will be a major part of its future earnings opportunity. Meta has spent billions of dollars on data center build-out, the development of its own large language models, and the hiring of a rock-solid team of AI experts to lead the way.
Investing in AI infrastructureAs this started to unfold, some investors worried about the levels of investment, and this weighed on Meta's stock performance during certain moments of the AI story. Meta's capital spending-to-revenue ratio, a metric measuring the revenue reinvested into assets, has reached about 35%. And considering Meta's AI ambitions, this ratio could continue to climb.
META CAPEX to Revenue (Annual) data by YCharts
On Wednesday, as Meta's fresh earnings report unfolds, investors will be looking to see how much capex might grow in the quarters to come and, importantly, whether this spending is translating into growth for Meta. This may offer us clues about the earnings opportunity ahead for this particular company, and it also might provide a few early hints about what to expect from other "Magnificent Seven" companies when they report earnings in the coming days.
There's reason to be optimistic, considering Meta recently launched a key product, its personal AI agent Muse -- and downloads reached record levels. Though these have been free downloads, the app also offers subscriptions for those who aim to use it more. This represents Meta's initial attempts to monetize its AI investments.
Any positive trends noted by Meta could boost the stock and could also lift other AI shares as investors anticipate more good news from other tech giants in the days to come. All of this may happen as early as Thursday, the first trading session after the report. And given AI stocks' major role in stock market movement, Meta's report could offer the S&P 500 direction in the days to come.
Oracle uzavřel s AstraZeneca nezávaznou dohodu o spolupráci v oblasti AI pro klinické studie a léčbu; finanční podmínky ani harmonogram nebyly zveřejněny.
Oracle announced a healthcare artificial intelligence collaboration with AstraZeneca on Tuesday, expanding its ambitions beyond data centres as investors scrutinise the cost of its cloud infrastructure expansion.
The companies plan to explore technology that helps clinicians identify patients for clinical trials, improve treatment pathways and connect medical research with routine care.
The agreement carries no disclosed financial value and remains non-binding. Nevertheless, it highlights a business opportunity for Oracle: selling specialised healthcare technology to hospitals and pharmaceutical companies rather than relying solely on computing capacity for AI developers.
The partnership combines Oracle's healthcare data, cloud systems and AI tools with AstraZeneca's drug development and clinical expertise.
Its first planned programme targets hypertension care and clinical research in Abu Dhabi alongside healthcare group M42. The companies want to help doctors identify patients with uncontrolled high blood pressure and match eligible participants to trials.
Projects could address cancer, cardiovascular conditions, respiratory diseases and rare disorders across the US, Europe and Middle East.
Oracle chief executive Mike Sicilia said in Tuesday's announcement that “some of the most important opportunities for AI are in healthcare”, where better use of data could improve patient outcomes.
AstraZeneca chief executive Pascal Soriot similarly argued that linking scientific research with clinical technology could identify patients earlier and improve trial recruitment.
The commercial appeal lies in embedding AI in everyday medical work, potentially making Oracle's software more valuable to healthcare customers.
Oracle expects its healthcare business to return to double-digit growth in fiscal 2027, helped by AI-enabled improvements to its Cerner healthcare management systems.
AstraZeneca could broaden that opportunity into clinical research, drug safety monitoring and use of real-world evidence to guide care.
However, neither company has committed to revenue targets, a contract value or a rollout timetable. A non-binding agreement is not a guaranteed commercial order.
The sensitive nature of medical information adds a hurdle. AstraZeneca said it would not receive patient-identifiable data, while projects must satisfy legal, ethical, privacy and regulatory requirements before proceeding.
The companies intend to establish shared governance and measures to assess outcomes, but success will depend on whether hospitals can use the tools effectively and whether buyers ultimately pay for them.
Healthcare AI could create recurring software revenue, although the announcement offers no basis for estimating how much.
Oracle's push into medical applications comes against a demanding financial backdrop.
The company reported negative free cash flow of $23.7 billion in fiscal 2026 after investment in cloud infrastructure. It also outlined plans in June to raise approximately $40 billion through debt and equity financing in fiscal 2027.
S&P Global lowered Oracle's credit rating to BBB- in July, the lowest investment-grade level, citing pressure from AI spending.
Mark Habib, S&P's global head of digital infrastructure, warned that “there is more (debt) out there that we are not seeing” in complex AI financing arrangements, according to Reuters. He said the agency saw no immediate reason to change ratings.
Oracle said customer prepayments and customer-supplied chips reduce how much capital it must raise for data centres.
Healthcare software may eventually deliver less capital-intensive revenue, but it still depends on secure cloud infrastructure and faces lengthy adoption cycles.
The final Oracle (NYSE: ORCL) dividend of 2026 is coming this week, with investors who have secured shares in the software company on time set to receive a payment unchanged from the previous quarters.
Specifically, Oracle will once again pay a quarterly dividend of $0.5 per share on Friday, October 23, 2026. The ex-dividend date of October 9 has long past, meaning only those who held ORCL shares prior to that will be eligible for a payout.
Oracle dividend schedule. Source: Dividend.com At a payout of $0.5, 100 ORCL shares will generate exactly $50 in Oracle stock dividends for the fourth quarter of 2026. Comparatively, 500 shares will earn $250, while 1,000 shares translate into $500.
The payout comes as Oracle stock trades at $129.59, down nearly 13% on the monthly chart. At that price, a 100 ORCL share investment is worth $12,959 at press time. On the ex-dividend date, however, it was worth $14,140, as the stock was changing hands at $141.4 at the time.
Oracle dividend details As mentioned, this week’s payment remains unchanged from the previous quarter. In fact, the last ORCL dividend increase came in the second quarter of 2025, when the payout was lifted from $0.4 to $0.5 per share. In other words, 100 ORCL shares will have netted $200 in taxable dividend income this year.
The company rewards shareholders on a quarterly basis, and it has an average price recovery of 6.2 days. Currently, the payout ratio is at around 18.15%, while the yield sits at 1.54%, slightly above the industry average of 1.37%.
According to the current estimates retrieved from Dividend.com, Oracle’s first 2027 dividend payout could come on January 22, 2027. If predictions are correct, the figure will once again remain unchanged.
Featured image via Shutterstock
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UPS v roce 2025 vygenerovala volný peněžní tok ve výši 5,47 mld. USD, z něhož dividenda pokryla 5,4 mld. USD; v roce 2026 má dividenda pohltit 98 % volného peněžního toku.
Since it is election season, voters and investors who closely monitor the intersection of financial markets and politics are being inundated with political prognostications often conveyed in "leans/likely/D/R" form.
Essentially, those predictions are pundits' way of saying that a particular result is likely to occur in a specific electoral contest. Sometimes, "probably" is as good as it gets, and that's relevant when addressing the often-discussed fate of the UPS (UPS -0.02%) dividend.
UPS's dividend is probably going to get through 2027, but that's not a "buy" signal. Image source: Getty Images.
It's not a stretch to say that the most-discussed items related to UPS stock are the fate of the payout, the 6.7% yield (as of Friday, Oct. 16), and the company's decision to move away from high-volume, low-margin Amazon deliveries.
So, with transportation and logistics already freezing payouts earlier this year, halting a 16-year streak of dividend increases, investors want clarity and definition. Barring a definitive announcement on the dividend from UPS, "probably" carries the day, which is to say the payout will likely remain frozen for the remainder of 2026 and 2027. That doesn't make the stock a "buy."
Surviving isn't the same as thriving An admittedly intangible factor may be a sign that UPS' dividend survives through 2027. That factor is competition. Smart management teams at dividend-paying companies know there's competition for investors' cash and that dividends, particularly the safe, growing variety, are a source of attraction for that capital.
With 10- and 30-year Treasury yields both north of 5% and those bonds likely offering significantly less risk than UPS shares, a dividend cut or suspension by the industrial company could easily spark a swift sell-off.
UPS and its dividend aren't just competing with bonds. Consider the Dividend Aristocrats® (the term Dividend Aristocrats® is a registered trademark of Standard & Poor's Financial Services LLC), which are the S&P 500 companies with a minimum payout increase streak of 25 years. More than 21% of those stocks hail from the industrial sector. So if UPS becomes a dividend offender, investors have plenty of options in the same sector to transition to.
UPS United Parcel Service$97.46-$0.02 (-0.02%)
NYSE · As of 4:00 PM ET 10/19/26
Combine Treasury yields and the abundance of other, more reliable dividend growth options in the industrial sector, which are factors likely not lost on UPS management, and the package delivery giant may be compelled/obligated not to embrace negative action next year. Yes, that's not surviving, but no, it isn't thriving, either.
UPS dividend safety is questionable Just as surviving and thriving aren't the same, surviving and being safe are also two very different things. In 2025, UPS generated $5.47 billion in free cash flow, with $5.4 billion of that sum directed to covering the dividend. The problem is that the figure is projected to fall to $5.05 billion this year and $5.01 billion in 2027, implying that the company is increasingly burdened by its dividend obligations.
That doesn't mean a cut or suspension is imminent, but those numbers don't scream "dividend safety." Nor does an estimate of the dividend sapping 98% of 2026 free cash flow.
Risk-tolerant investors mulling positions in UPS ought to consider history. From 2007 through mid-2025, 60% of dividend cutters came from the group of stocks with the highest payout ratios, and a quarter of those names were in both the highest payout ratio and highest dividend yield groups. As of Friday, Oct. 16, just 10 members of the S&P 500 sported dividend yields north of 6%. UPS is one.
To top it all off, UPS is contending with headwinds from rising competition and high fuel prices, potentially setting the stage for disappointing quarterly results. So while UPS' dividend may make it through 2027 unscathed, investors can find more safety with less stress in the industrial sector, and that may be the course of action to take.
Společnost The Trade Desk očekává ve třetím čtvrtletí roku 2026 tržby ve výši nejméně 650 mil. USD, což představuje meziroční pokles zhruba o 12 %; růst tržeb ve druhém čtvrtletí zpomalil na 3 %.
Anyone who bought The Trade Desk (TTD +0.24%) on its first day of trading and hung on has seen the stock climb over 40-fold, then give most of it back. The ad tech company's shares finished that first day, Sept. 21, 2016, at $30.10 -- or around $3.01 adjusted for the 10-for-1 stock split in 2021.
At $3.01 a share, $10,000 bought around 3,322 shares. At the stock's $12.23 close on Oct. 16, these shares are worth around $40,600. Put simply, the stake is still worth about four times what it cost, though the stock trades 91% below its December 2024 peak of $139.51.
At that peak, the same stake was worth around $463,000.
But the company held up on the way down, at least until this year. Actually, I think the most telling point is that The Trade Desk makes more per share now than it did at the peak.
Image source: The Motley Fool.
A decade of growthThe Trade Desk's software lets brands and ad agencies bid on digital ad space automatically (what the industry calls a demand-side platform), and the climb was built on its results. Revenue in 2016 was around $203 million. By 2024, it was $2.4 billion, after rising around 36% a year on average. The company made a profit in every one of those years. And spending on its platform hit $12 billion in 2024, a record.
Even the 2022 sell-off didn't break that pattern. The stock lost around half its value that year, but revenue rose about 32% year over year to $1.6 billion.
Shares went on to set their record two years later.
By then, though, investors were paying a lot for that growth. At $139.51, the stock traded at almost 230 times earnings, based on the $0.61 of earnings per share The Trade Desk had generated over the last 12 months. A price-to-earnings ratio like that arguably only made sense if fast growth kept going for many more years.
What did the crash take?The first big drop came with a miss on the company's own forecast. The Trade Desk had guided for fourth-quarter 2024 revenue of at least $756 million, and it reported $741 million. Shares fell 33% a day later, in February 2025.
Worse, the stock shed another 39% in a single session in August 2025, the largest one-day drop since it went public. The company had just said its CFO was leaving, and it guided for third-quarter revenue growth of at least 14% year over year, a slowdown from 19% growth in the second quarter.
Growth kept slowing after that. Revenue climbed 18% year over year in the third quarter of 2025, but only 3% in the second quarter of 2026. And for the third quarter of 2026, management guided for revenue of at least $650 million, around 12% below the year-ago quarter.
The stock even lost its spot in the S&P 500 (^GSPC +0.41%), which it had joined in July 2025. It went to the S&P SmallCap 600 on Sept. 21.
But profits have held up much better than the stock. Over the four quarters through June, The Trade Desk earned $0.84 a share, up from $0.61 at the peak. At $12.23, the stock trades at less than 15 times those earnings.
So most of what the stock gave back was its valuation. The price-to-earnings ratio dropped from almost 230 to below 15, even as earnings per share climbed around 38%. The newer issue is in the guidance, as a shrinking revenue line could eventually cut earnings too.
$12.26+$0.03 (+0.24%)
NASDAQ · As of 4:00 PM ET 10/19/26
An S&P 500 fund did about as wellThat $40,600 works out to an annual return of around 15% over a bit more than 10 years. But $10,000 put in the SPDR S&P 500 ETF Trust (SPY +0.42%) on Sept. 21, 2016, with dividends reinvested, was worth around $41,400 as of Oct. 16 -- a nearly identical return.
The difference was the path. The S&P 500 fund never asked its owner to watch a $463,000 stake shrink to around $40,000, or to ride out two one-day drops of over 30%.
What does this say about holding a fallen growth stock? Mainly that the low entry price made the difference for a first-day holder. A buyer at $3.01 could weather a 91% fall and still quadruple their money.
A buyer at the peak, of course, would need the shares to climb around 11-fold just to break even.
And unlike in 2022, revenue probably won't grow through this slump. Until management's guidance shows growth again, I wouldn't bet on this drop working out the way the 2022 one did.
Společnost SAB Finance a.s. zveřejňuje Průběžné hospodářské výsledky SAB Finance a.s. k 30. 9. 2026.
SAB Finance a.s. vykazuje k 30. 9. 2026 provozní zisk před zdaněním ve výši 293 milionů Kč a rekordní provozní výnosy ve výši 616,7 milionů Kč.
Zpráva je dostupná také na webu https://www.sab.cz/pro-investory#aktuality.
(komerční sdělení)
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BNSF vyplatila Berkshire Hathaway za rok 2025 dividendu 4,4 miliardy USD z provozního zisku 8,1 miliardy USD. Berkshire železnici koupila v roce 2010 za 34,5 miliardy USD.
Most investors know Berkshire Hathaway (BRKA +0.09%) (BRKB +0.04%) is a combination of a portfolio of publicly traded stocks and privately owned businesses like GEICO Insurance, Duracell batteries, and Shaw flooring. Is it possible, however, that investors are underestimating just how much cash the conglomerate is collecting from one of its most boring wholly owned companies? It certainly looks that way.
The business in question is the railroad BNSF, although you may know it better as Burlington Northern Santa Fe. Here's a closer look.
All aboard the cash train!
Contrary to a common assumption, Berkshire Hathaway isn't just a collection of companies that former CEO Warren Buffett and current CEO Greg Abel felt good about owning. Every one of its holdings serves a specific purpose. For instance, the vast majority of its privately held businesses are meant to generate reliable cash flow that backs up its insurance operation.
Berkshire also discloses surprisingly detailed information about these businesses. For instance, through the first half of 2026, BNSF has generated just over $2.9 billion in operating earnings, up nearly 10% year over year. That's more than one-tenth of the organization's total operating earnings -- again.
Although operating income is a key measure of a business's health, in this instance it's not necessarily the most meaningful one. Arguably more important to a conglomerate like Berkshire is how much cash an investment is reliably putting in its parent company's pockets, whether that investment is private or a publicly traded one.
To this end, as Greg Abel noted in his 2025 letter to Berkshire Hathaway shareholders, published early this year, $4.4 billion of BNSF's $8.1 billion in 2025 operating earnings was handed over to Berkshire in the form of a cash dividend. The railroad company is on pace to at least match these numbers again this year, extending a long-standing track record of real cash generation.
Image source: Getty Images.
The amazing part? Berkshire Hathaway paid only $34.5 billion for BNSF back in 2010. Now 16 years later, the effective dividend yield on this initial investment is a healthy 12.7%, not to mention the appreciation of the railroad's value in the meantime. Although Berkshire itself doesn't offer a specific figure, estimates of its market value range from $75 billion to as much as $200 billion, and Buffett has been willing to say the railroad is the conglomerate's second-most-valuable asset, mostly due to the cash it produces.
More private, less public?
It's just one piece of the Berkshire puzzle, of course, and a relatively small one at that; Berkshire's current market cap stands at a stunning $1.1 trillion.
It's an important detail, though, and an increasingly important one, particularly if the stock market itself decides to unwind its extreme valuation. Although a correction would put widespread bearish pressure on most stocks, since Berkshire Hathaway's value largely consists of privately held companies, its ticker could be well-shielded from any such weakness.
Given this, shareholders might wish Abel would make more outright acquisitions of small cash-cow companies rather than use Berkshire's $365.5 billion in uninvested cash to simply purchase more stocks. The private approach appears to create more long-term value.
Marqeta bude zajišťovat program kreditních karet Square v síti American Express. Block tím sjednotí programy debetních, předplacených a kreditních karet Square na platformě Marqeta.
Marqeta now powers Square's credit card on the American Express® Network, extending its longstanding relationship with Block that includes Square’s debit and prepaid programs. By consolidating debit and credit onto Marqeta’s end-to-end platform, Square has a single platform to build and iterate on card products for sellers. Marqeta’s portfolio migration capabilities enable existing Square Card accounts to migrate onto Marqeta's platform without disrupting the cardholder experience. OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta (NASDAQ: MQ), the modern card issuing platform, announced today that it is enabling the Square Credit Card, Square's business credit card for sellers, backed by the American Express® Network. With the migration to Marqeta, Square is consolidating its debit, prepaid, and credit programs onto one modern card issuer processor, reducing operational complexity and enabling Square to bring new credit features to market more quickly. Marqeta’s portfolio migration capabilities enable Square to migrate existing accounts and card credentials to Marqeta without disrupting the cardholder experience.
In 2019, Square partnered with Marqeta to introduce the Square Card, a business debit card for small business owners that gives them access to earnings immediately and without additional fees, enabling cardholders to reinvest into their business. The Square Credit Card gives Square sellers access to a credit line that grows with their business volume. Marqeta’s 2026 State of Credit report found that 96% of small and medium-sized businesses (SMBs) surveyed are intentional about which payment methods they use for a given transaction, signaling demand for both credit and debit offerings. In addition, the research found that 34% of SMBs surveyed have moved between credit products as their business evolved, and 64% want a clear path from entry-level to advanced products, demonstrating the need for credit offerings to keep pace as small businesses grow.
“Square sellers depend on both credit and debit to run their businesses, and consolidating those programs onto Marqeta’s platform means we can move faster and safer on the products they need,” said Andrea Raj, Head of Product for Square Banking at Block. “Migrating our existing cardholders without any disruption to their experience was critical, and Marqeta delivered. This is a reflection of the strong partnership we’ve built together over the years.”
Marqeta's commercial credit platform delivers end-to-end capabilities, including card issuance and transaction processing, underwriting, rewards management, risk controls, and disputes, all within a single integration. The platform gives businesses granular spend controls, flexible account hierarchies, and real-time decisioning powered by more than 300 data attributes, enabling them to build differentiated credit programs tailored to the needs of their customers. Marqeta also supports full program management, including bank and network partnerships, regulatory and compliance reporting, customer service, and collections reducing the need for multiple vendors and accelerating time to market for customers. The addition of American Express® to Marqeta’s roster of network partners demonstrates its breadth of network capability and scale.
“Block is one of our deepest and most expansive partnerships, and the work we're doing together goes well beyond any single program,” said Todd Pollak, Chief Revenue Officer, Marqeta. “This launch is a strong example of what that partnership enables, bringing Square's full card portfolio onto one platform so they can build and iterate on credit products for small businesses faster than ever before.”
About Marqeta
Marqeta (NASDAQ: MQ) enables payments innovation through its enterprise-grade modern card issuing platform. Spanning debit and credit offerings for both consumer and commercial, it provides card issuing and processing, credit services, accounts and money movement, risk and fraud, and user experience capabilities. The Company’s solutions and expertise provide customers with greater control and agility in issuing payment credentials and allow them to build and embed financial services into their branded experience. With compliance and security built-in, Marqeta’s end-to-end configurable platform is proven at scale, processing nearly $400 billion in annual payments volume in 2025 and certified to operate in more than 40 countries. To learn more, visit www.marqeta.com.
About Block, Inc.
Block, Inc. is a financial services platform and not an FDIC-insured bank.
Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated.
Square Credit Cards are issued by Celtic Bank, pursuant to a license from American Express. American Express is a registered trademark of American Express.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, Marqeta’s products and services and the benefits those products and services may provide to consumers; statements relating to the launch and performance of new programs and partnerships; and statements made by Marqeta’s senior leadership. In some cases, these forward-looking statements can be identified by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta’s Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.
Steel Partners stanovila platnost své nabídky na převzetí společnosti InMode za 16,75 USD v hotovosti za akcii do 30. října 2026; jde o jedinou zbývající nabídku.
After More Than Three Months, the Company Has Refused to Engage on Steel’s Proposal
Steel Believes Directors Breached Their Fiduciary Duties by Demanding Dismissal of Claims Against Them in Exchange for Diligence
Steel’s Offer Delivers Certain Cash at a Premium or Shareholders Can Remain Invested in InMode
Absent Meaningful Engagement, Steel Will Hold the Entrenched Board Accountable
NEW YORK--(BUSINESS WIRE)--Steel Partners Holdings L.P. (together with its affiliates, “Steel”), a significant, long-standing shareholder of InMode Ltd. (“InMode” or the “Company”) (Nasdaq: INMD), today issued an open letter to all InMode stakeholders. The full text of the letter is below.
October 19, 2026
To All InMode Stakeholders:
Steel Partners Holdings L.P. (together with its affiliates, “Steel”) is a significant, long-standing shareholder of InMode Ltd. On July 9, 2026, we proposed to acquire up to 100% of the outstanding shares of InMode for $16.75 per share in cash. More than three months later, that proposal remains in place and we have spent significant time and effort attempting to access information that would enable us to move forward with our offer.
On September 16 the Company disclosed that the competing proposal from the group led by its Chief Executive Officer, Moshe Mizrahy, had expired without a transaction.1 Our proposal is now the only offer outstanding, and today we are setting an expiration date for that proposal of October 30, 2026.
We do not believe the members of this Board have the independence required to fulfill their fiduciary duties in evaluating a proposal from the Company’s own Chief Executive Officer against a competing proposal from an outside shareholder. We have seen firsthand that Mr. Mizrahy and co-founder Dr. Michael Kreindel together control this Company through their conflicted relationships with the other Board members.
The Company Has Not Engaged with Us in Good Faith
In more than three months, the Company has not entered into a non-disclosure agreement, opened a data room or provided any diligence materials. The Special Committee has refused to move forward without a dismissal of our claims against the directors individually. To facilitate productive discussions, we have repeatedly offered to stay those actions for the duration of negotiations.
We believe that conditioning access to diligence information on the discontinuation of our lawsuit surrounding the directors’ own conduct is a blatant breach of their fiduciary duties. The Board and the Special Committee should be using their positions to bring the best available proposal to shareholders, not to secure protection for themselves.
We have been prepared to execute a simple non-disclosure agreement since July. We have spent significant time and effort negotiating with the Special Committee and its advisors in an attempt to obtain information, including flying to Tel Aviv to meet in person with each member of the committee. Every non-disclosure agreement the Company has put in front of us conditions access to basic information on our surrender of our rights as shareholders, including our ability to hold this Board accountable for its conduct.
Over this same period, the Company has not asked us a single question about the details of our offer and has told shareholders nothing about it. The Company has said publicly that it is open to providing information, and that this process would be conducted to the “highest standards of corporate governance, transparency, and objectivity.”2 Its conduct has not matched that statement.
InMode’s Board Is Not Positioned to Evaluate This Proposal
We believe there are significant conflicts of interest on this Board that prevent its members from discharging their fiduciary duties. Evaluating our proposal against the status quo requires directors who are independent of Mr. Mizrahy in substance and not only in title, and the information we have gathered since we first raised these concerns has only reinforced our view that this Board does not meet that standard.
We set out our specific concerns in our prior letters and will not repeat them here. They involve overlapping board service alongside Mr. Mizrahy at other companies, transactions between InMode and companies affiliated with those directors, each approved by those same directors, and a proposed buyer group, led by the Chief Executive Officer, which included InMode’s own manufacturer and its United Kingdom distributor. In our view this Board lacks the independence required to stand up to the Chief Executive Officer and protect the shareholders it is charged with representing.
Management Has Cut Guidance Six Times Since February 2024
The Company last reported results on August 5. Revenue was $95.6 million, flat against the prior year, with gross margin down to 75% from 80% and non-GAAP operating margin down to 17% from 28%.3 The Company also cut full year non-GAAP operating income guidance to a range of $68 million to $73 million, the sixth reduction to earnings guidance since February 20244, and told shareholders it expects these trends to continue for the foreseeable future. At the same time, the Company has significantly curtailed investor communication, including suspending earnings calls, demonstrating the Board’s disregard for the corporate governance and transparency it trumpets.
After a failed strategic review, an expired insider proposal and continued operating uncertainty, shareholders have been given no evidence of a credible plan under current leadership.
Following the Expiration of Our Offer, We Will Hold the Board Accountable
In our view, these directors have breached their duties of loyalty and care. They have failed to supervise a Chief Executive Officer who has run roughshod over the shareholders he is meant to serve, and whose conduct has raised serious questions under U.S. securities laws. A Board that cannot be trusted to oversee management or to run a fair process for a premium, all-cash offer should be replaced by directors the shareholders choose, and we will pursue all available remedies to protect shareholder interests and hold this Board accountable.
Respectfully,
Warren G. Lichtenstein
Executive Chairman
Steel Partners Holdings L.P.
Fox Factory snížila výhled očištěného EBITDA pro rok 2026 o 22 % ve střední hodnotě rozpětí na 140–150 mil. USD; předběžné tržby za třetí čtvrtletí zaostaly za očekáváním.
Fox Factory cut its full-year 2026 adjusted EBITDA outlook by approximately 22% at the midpoint, just weeks after announcing the completion of its Marucci divestiture in a September 25, 2026 SEC filing that highlighted debt reduction and lower leverage. The investigation concerns potential securities law violations.
, /PRNewswire/ -- Fox Factory Holding Corp. (NASDAQ: FOXF) shareholders face potential losses after the Company reduced its full-year 2026 adjusted EBITDA outlook by approximately $41 million, or 22%, at the midpoint. The new range is $140–$150 million, down from $176–$196 million, just weeks after Fox Factory's September 25, 2026 SEC filing concerning the Marucci divestiture. Shareholders who lost money on FOXF are encouraged to submit their loss information for review, or to contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.
The Form 8-K that Fox Factory furnished on September 25, 2026 announced the Marucci divestiture under a headline stating: "Net leverage reduced from 3.7 times to approximately 2.7 times." Further down, the same release stated: "Had the transaction closed on July 3, 2026, net leverage would have been approximately 2.7 times." When the Company cut its outlook, it cited Marucci divestiture timing as one of the drivers. Marucci came in at approximately $33 million versus the approximately $46 million the Company had assumed.
Fox Factory's Form 10-Q dated August 7, 2026 reported total net sales of $358.1 million for the quarter ended July 3, 2026. Preliminary third-quarter sales came in at $336-$340 million, short of the Company's own guidance of $355-$380 million. SueWallSt notifies investors of a pending investigation into potential securities law violations, including whether Fox Factory's regulatory filings may not have adequately disclosed the risks behind the reset.
If you lost money on Fox Factory stock, find out whether you may recover your losses. You may also reach Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.
WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Frequently Asked Questions About the FOXF Investigation
Q: Who is eligible to participate in the FOXF investigation?A: Investors who purchased FOXF stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: Which statements are being investigated as potentially misleading?A: The investigation concerns whether Fox Factory Holding Corp. made materially false or misleading statements regarding its business outlook and the disclosures in its SEC filings ahead of the guidance reset. These filings include its August 7, 2026 Form 10-Q and its September 25, 2026 Form 8-K on the Marucci divestiture. The stock price declined after the Company disclosed preliminary third-quarter fiscal 2026 net sales of $336-$340 million against guidance of $355-$380 million and reduced its full-year outlook.
Q: When did Fox Factory allegedly mislead investors?A: The investigation concerns statements made before the corrective disclosure that allegedly caused investors to purchase securities at inflated prices.
Q: What do FOXF investors need to do right now?A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible to participate in the investigation.
Q: What documents do I need to participate?A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my FOXF shares -- can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought FOXF and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate?A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.
Q: Do I need to go to court or give testimony?A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (888) SueWallSt
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
Huntington Bank oznámila ve spolupráci s Google Cloud AI platformu The 1866 Studio pro malé podniky, která pomáhá s podnikatelskými plány, marketingem a úvěrovou připraveností.
New connected experience designed to help small business owners build and scale their businesses with access to financial, operational and business management AI tools and expertise
, /PRNewswire/ -- The Huntington National Bank ("Huntington") today announced The 1866 Studio, a new AI-powered operating system built with Gemini platform, Google Cloud's AI platform. Named for the year Huntington was founded, The 1866 Studio honors the bank's legacy of empowering businesses by bringing together business guidance, financial intelligence, digital tools and human expertise into a single, connected experience for aspiring and existing small business owners.
Huntington Bank Introduces The 1866 Studio, an AI-Powered Small Business Operating System Built with Google Cloud
The 1866 Studio Desktop
The 1866 Studio Business Profile
The 1866 Studio Mobile
The 1866 Studio Call to Action
Experience the full interactive Multichannel News Release here: https://www.multivu.com/huntington/9347252-en-huntington-bank-announces-the-1866-studio
The 1866 Studio is designed to simplify the complex and time-consuming demands of starting and running a business. The operating system will provide agentic AI workflows across the financial, operational and management needs of business owners that streamline complex work and help them move from information to intelligence to action. By retaining relevant business context across tasks, The 1866 Studio enables business owners to orchestrate decisions across disparate tools while maintaining control as their needs evolve.
"Small businesses are essential to strong communities and a strong economy, and helping businesses thrive has been central to Huntington's purpose for more than 160 years," said Brant Standridge, president of Huntington Bank. "We are continually looking for new ways to help business owners navigate challenges, seize opportunities and spend more time focused on the financial success and growth of their businesses. The 1866 Studio is the next evolution of that commitment, bringing together Huntington's expertise and Gemini platform to help owners make more informed decisions and spend more time building the businesses they imagined."
The 1866 Studio will leverage Huntington's extensive small business and financial expertise and an AI-powered experience built using Google Cloud's comprehensive platform to build, scale, govern and optimize agents. Combined with Google's multimodal Gemini models, Gemini platform is enabling Huntington to offer business owners an intelligent, connected operating system that helps them navigate decisions with greater confidence and efficiency.
"Small business owners shouldn't have to become experts in every function or in AI to build a successful business," said Vijay Konduru, head of innovation and AI products at Huntington. "The 1866 Studio is an AI-powered platform designed around the small business jobs to be done. As the product evolves, it's intended to increasingly support the full range of those jobs across the business lifecycle, from turning an idea into a business to running and growing it, and ultimately preparing for succession, sale or exit."
"The future of small business banking is about delivering expertise and guidance in the moments customers need it most," said Rohit Bhat, general manager and managing director, Financial Services, Google Cloud. "By using Gemini platform and Gemini frontier models to build The 1866 Studio, Huntington is creating an innovative experience that helps small business owners move from information to action."
Initial AI capabilities of The 1866 Studio, including agentic workflows, equip entrepreneurs to turn business ideas into actionable plans, navigate startup requirements, strengthen their brand, identify funding sources, enable funding readiness and plan for growth. For example:
Business launch support: With built-in AI agents, owners can navigate the steps required to start a business, from entity selection and registration to licensing and operational setup, while generating a customized action plan to help move from idea to launch.
Marketing & campaign creation: Leveraging multimodal Gemini models, owners can instantly generate tailored marketing collateral, digital ad copy and social media campaigns.
Loan readiness assistance: AI-powered agents help owners evaluate financing readiness by identifying potential gaps, explaining lender expectations and recommending actions that can strengthen eligibility for future financing opportunities.
"Agentic AI workflows that help carry out tasks are one part of this end-to-end operating system," Konduru added. "Alongside them are relevant, personalized expert content and an AI assistant that helps owners both monitor their business operations and finances and manage and orchestrate daily work. Together, these capabilities help owners move from advice to action with support that evolves with the business, while they remain in control."
The 1866 Studio builds on Huntington's multi-year strategic partnership with Google Cloud to modernize technology, advance governed AI capabilities and accelerate innovation. Through the partnership, Huntington continues to explore new ways to use technology built with Google Cloud to enhance experiences for customers, colleagues and the communities and businesses it serves.
Interested small business owners and entrepreneurs, not limited to Huntington customers, can sign up for early access to The 1866 Studio beginning Oct. 19.
Visit Huntington.com/The1866Studio to sign up for early access to The 1866 Studio.
About Huntington
Huntington Bancshares Incorporated is a $284 billion asset regional bank holding company headquartered in Columbus, Ohio. A top 10 U.S. commercial bank, The Huntington National Bank and its affiliates provide consumers, small and middle-market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Founded in 1866, Huntington operates over 1,400 branches in 21 states, with certain businesses operating nationally. Visit Huntington.com for more information.
Pound-Euro could test €1.19 if French political and fiscal tensions persist, although weaker UK jobs data may limit Sterling’s upside. The Pound to Euro (GBP/EUR) exchange rate rallied on Monday, after France was rocked by violent protests over the weekend.
At the time of writing, the GBP/EUR exchange rate was trading at around €1.1891. Up around 0.3% from the start of Monday’s session.
Latest — Exchange Rates:
Pound to Euro (GBP/EUR): 1.186886 (+0.07%)
Pound to Dollar (GBP/USD): 1.331202 (-0.14%)
Euro to Dollar (EUR/USD): 1.121592 (-0.21%)
DAILY RECAP:
The Euro (EUR) faced renewed selling pressure on Monday as a wave of civil unrest across France over the weekend exacerbated concerns about the country's deteriorating fiscal position and added to uncertainty surrounding its political outlook.
The unrest, which saw clashes with police, widespread looting and a fire that severely damaged the historic town hall in Limoges, has placed further pressure on President Emmanuel Macron's government.
The demonstrations come at an already difficult time for French policymakers, who are struggling to secure support for a 2027 budget aimed at reducing the country's sizeable deficit ahead of next year's presidential election.
The prospect of further political instability has raised doubts over whether the government can implement the spending reductions and fiscal reforms needed to restore confidence in France's public finances.
These fears have added to France’s bond-market woes, which EUR investors are growing increasingly concerned could spill over into the wider Eurozone.
While able to advance against the Euro, the Pound (GBP) was largely rangebound against its other peers on Monday ahead of a run of key UK data.
A heavy macroeconomic calendar is anchored by the latest domestic labour market and consumer price figures, followed later in the week by retail sales numbers and flash PMIs.
Traders will scour the upcoming prints for fresh clues on how domestic activity is weathering the recent climb in energy costs, and whether stubborn price pressures will force the Bank of England (BoE) to tighten monetary policy more aggressively.
Near-Term GBP/EUR Forecast: Weak UK Jobs Data to Drag on Sterling? Looking ahead, the Pound Euro exchange rate may take its cues primarily from the UK’s latest jobs figures on Tuesday.
Consensus forecasts point to another uptick in the unemployment rate for August alongside a cooling in wage growth. If confirmed, signs of domestic labour market slack could sap Sterling demand by tempering expectations of future interest rate hikes from the BoE.
In the meantime, it seems safe to assume that France’s political and fiscal headaches will continue to influence EUR sentiment, with headwinds against the Euro only likely to grow if the situation deteriorates further.
Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.
The Pound-Australian Dollar could remain under pressure if UK jobs data weakens BoE hike expectations, while hawkish RBA signals may keep the Aussie supported. The Pound to Australian Dollar (GBP/AUD) exchange rate opened this week’s session on the defensive, following hawkish remarks from a Reserve Bank of Australia (RBA) policymaker.
At the time of writing, GBP/AUD was trading at AU$1.8896. Down around 0.4% from the start of Monday’s European session.
Latest — Exchange Rates:
Pound to Dollar (GBP/USD): 1.331469 (-0.12%)
Australian Dollar to Dollar (AUD/USD): 0.6983 (+0.54%)
DAILY RECAP:
The Australian Dollar (AUD) strengthened on Monday after Reserve Bank of Australia Assistant Governor Christopher Kent suggested that interest rates may need to rise further if inflation remains stubbornly elevated
Speaking at a banking conference, Kent highlighted evidence that underlying inflationary pressures remain persistent, while questioning whether monetary policy is restrictive enough to bring price growth sustainably back towards the RBA’s target.
Kent also acknowledged that there are signs that the labour market is cooling, but stressed that markets shouldn’t read too much into a single month of data.
This follows last week’s abysmal jobs report, which triggered significant weakness in the Australian Dollar after reporting a sharp fall in employment growth last month.
If the RBA is willing to look past September’s jobs data, it increases the odds that the bank might deliver another interest rate hike by the end of the year.
The Pound (GBP) traded in a narrow range on Monday, as investors were reluctant to make significant adjustments to their positions in the currency ahead of a busy week for UK economic data.
This week’s data is headlined by the UK’s latest employment and inflation figures and also includes retail sales and PMI releases at the end of the session.
GBP investors will be looking for fresh insight into how the UK economy is faring amid a fresh rise in energy prices and how this data could influence the Bank of England (BoE) outlook on policy.
Near-Term GBP/AUD Forecast: Soft Jobs Data to Sap Sterling Sentiment? Looking ahead, the main catalyst of movement for the Pound to Australian Dollar exchange rate on Tuesday will likely be the publication of the UK’s latest employment data.
Consensus estimates predict unemployment will have risen again in August at the same time that wage growth slowed, potentially applying pressure on Sterling if this is seen as weakening the case for the BoE to hike interest rates in the coming months.
Meanwhile, in the absence of any notable domestic data, movement in the ‘Aussie’ is likely to be tied to market risk dynamics on Tuesday, with a cautious mood potentially denting the currency.
Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.
Výdaje debetními kartami ve třetím čtvrtletí vzrostly mezikvartálně o 7,4 %, přičemž výdaje za energie vyskočily o 20,7 % v důsledku vyšších cen a letního chlazení.
Debit spending increased 7.4% from Q2 and grew in every tracked category as people absorbed higher prices on utilities and other essentials, while still finding room for experiences
SALT LAKE CITY--(BUSINESS WIRE)--As prices on many goods and services continued to climb, people kept spending through the end of summer, according to the Q3 2026 SoFi Tech Solutions Debit Spend Index. Debit spend rose 7.4% and transactions rose 5.9% from Q2 to Q3, and every recurring category grew on both measures. More than 62% of debit transactions in the quarter were digital.
Consumers kept spending in Q3 as bills grew. SoFi Tech Solutions’ Debit Spend Index shows spending rose 7.4% from Q2, with utility spending up 20.7%.
Share The Q3 Debit Spend Index gives a snapshot of how spending played out for the quarter across five key categories including everyday essentials, subscriptions, the experience economy, travel and back to school.
A warm summer lifted utility bills, gas pump prices climbed 10.7% between July and September, and back to school spending hit its peak. Over the quarter, households put more money toward recurring costs like utilities and fuel and cut back on discretionary spending such as dining out and entertainment.
“Spending patterns reveal the real choices and tradeoffs that people face as budget and price pressures persist,” said Kathleen Pierce-Gilmore, president of SoFi Tech Solutions. “Fintechs, banks and brands that use data to deeply understand people’s needs can help customers do more with their money.”
Q3 Debit Spend Index Trends
Essential bills outgrew everything else
Utility spend rose 20.7% quarter over quarter on 10.8% more transactions, and the average utility payment climbed every month after June to finish 17.2% above that floor, as summer cooling bills stretched budgets. Fuel spend rose 9.9% and fuel continues to take a larger share of debit dollars than groceries, 6.3% against 5.6%.
Price, more than volume, drove growth in recurring billing and subscriptions
Many subscriptions and recurring charges got more expensive, and debit spend grew 9.7% on only 1.3% more transactions, pushing average transaction spend up 8.3%. Telecom led the way, with spend up 18.1% and the average telecom transaction spend 6.5% above Q2. Subscriptions’ share of all debit transactions slipped for a third straight quarter from 16.1 to 15.4%.
Experiences drew more visits with smaller tickets
Experience transactions grew 12.9%, more than double the total debit transaction growth in the index, while the average experience transaction spend fell 4.5% and declined in 11 of 14 subcategories. Higher-priced outings gave up the most, and sports ticketing began ramping up in September as October’s “sports equinox” draws closer.
Back-to-school needs drove a seasonal spending increase on a two-phase trend
Back-to-school and college-related spending rose 40.3% on 21.2% more transactions quarter over quarter. Spending increased 80.5% from July to August – especially on bigger ticket items while September recorded the most transactions of any month in the quarter and the lowest average transaction amount.
View the full Q3 2026 SoFi Tech Solutions Debit Spend Index.
About the SoFi Tech Solutions Debit Spend Index
The SoFi Tech Solutions Debit Spend Index is based on anonymized, aggregated debit transaction data processed through the SoFi Technology Solutions platform during Q3 2026 (July, August and September). Data covers transactions across 300+ Merchant Category Code (MCC) classifications. Quarter-over-quarter comparisons measure Q3 2026 aggregate against Q2 2026 aggregate. Monthly comparisons measure the specified individual months. Average transaction amounts reflect total spending divided by transactions and can change with prices or purchase mix. No individual cardholder data is identifiable.
About SoFi Tech Solutions
SoFi Tech Solutions is the financial technology provider connecting banks, fintechs, and enterprises with innovative banking and processing capabilities to help people get their money right. This division of SoFi delivers modern digital solutions that are cloud-native, developer-friendly and regulation-ready powering exceptional, customer-centric financial experiences across North and Latin America.
New pre- and post-market sessions bring more access to U.S.-listed options Trading launched today with options on 24 single stocks and 5 ETFs Several global brokers are supporting the launch , /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today announced select multi-listed equity and exchange-traded fund (ETF) options are available to trade during extended pre-market and post-market sessions on its Cboe Options Exchange (C1). C1 is currently the only U.S. options exchange offering pre- and post-market index options sessions and is now expanding trading hours for select U.S. equity single-stock and ETF options.
Trading of select single-stock and ETF options is now available during a pre-market session from 7:30 a.m. to 9:25 a.m. ET and a post-market session from 4:00 p.m. to 4:15 p.m. ET, Monday to Friday, covering some of the most actively traded and liquid symbols, including the Magnificent 10 stocks and other widely followed U.S.-listed names plus major ETFs. The full list of underlying symbols is: AAPL, AMD, AMZN, AVGO, BABA, BAC, F, GLD, GOOG, GOOGL, HOOD, INTC, IWM, META, MRVL, MSFT, MU, NFLX, NOK, NVDA, ORCL, PFE, PLTR, QQQ, SNDK, SPY, TSLA, TSM, XLF.
Through September, options on these names accounted for approximately 53% of average daily U.S.-listed options volume in 2026.
"Building on our 53-year history of innovation and our expertise in offering expanded hours for our flagship index options, Cboe led this important initiative with extensive input from retail and institutional participants including our U.S. and non-U.S. broker partners, whose insights were critical to a successful launch today," said Rob Hocking, Global Head of Derivatives at Cboe. "The shift to 24x5 trading across asset classes is only accelerating, and that's been apparent in the demand for Cboe's index options during non-traditional hours, particularly leading up to the U.S. market open when economic data and corporate announcements are commonly released. Now, with the addition of extended trading hours for options on single stocks and ETFs, global investors will be able to manage positions and risk with more flexibility in many of the names that drive today's market."
Several brokers globally are offering or plan to offer access to the sessions.
Josh Krugman, SVP, brokerage at Fidelity Investments, said: "Options have long been an important tool for Fidelity investors seeking to manage risk and pursue market opportunities. Cboe's extended trading hours represent a meaningful evolution for the options market, giving investors greater flexibility and choice in how and when they engage with these strategies."
Milan Galik, Chief Executive Officer of Interactive Brokers, said: "Markets move around the clock, but trading hours for US equity options have remained limited. We welcome Cboe's initiative to narrow that gap, giving investors around the world more flexibility to trade and manage risk outside regular US market hours."
Neil McDonald, CEO of Moomoo US, said: "We're proud to partner with Cboe to offer our customers access to extended trading hours for select equity options from day one. Earnings announcements and economic developments don't follow the market's trading schedule. This expansion gives retail investors more flexibility to manage their positions and respond to market-moving news before the opening bell and after the close."
Abhishek Fatehpuria, VP of Product Management at Robinhood, said: "Many of our customers are early risers who want to catch up on the news and look for market signals before the opening bell. With Cboe's new extended hours options trading, we're making it easier for customers to trade on their own schedule, both before or after the bell. This is just another example of our commitment to making Robinhood the best place for active traders."
Ian Leong, Chief Executive Officer, Tiger Brokers Singapore, said: "For investors in Singapore, the U.S. pre-market falls in our evening, when much of the news that moves U.S. stocks is released. Our clients have long told us they want greater flexibility to manage their positions around these events, and our partnership with Cboe enables us to deliver on that need. Extending access to selected U.S. equity options is another step in our commitment to innovation and giving clients more choice in how they trade, alongside the education and risk controls needed for trading outside regular hours."
John Bartleman, President and Chief Executive Officer of TradeStation Group, Inc., said: "Cboe's expansion of options trading hours gives traders greater flexibility to respond to market-moving events as they happen. We believe traders deserve access to the markets when opportunity strikes, which is why TradeStation Securities is making extended-hours options trading available to its clients at launch. Clients will be able to act on their strategies in select options before the open and after the close, using the same integrated tools, education, and support they rely on every day across our trading ecosystem."
Peter Laptewicz, CPO, Tradier, said: "Markets don't wait for the opening bell, and neither should our clients. Cboe's GTH equities options session will give Tradier clients the flexibility to react to market-moving events in real time, rather than having to wait for regular trading hours. We're proud to support Cboe in expanding access and opportunity for active traders."
Cboe currently offers near 24x5 trading of several of its proprietary index options in its Global Trading Hours (GTH) (8:15 p.m. ET to 9:25 a.m. ET) and Curb Trading Hours (4:15 p.m. ET to 5:00 p.m. ET) sessions. GTH trading achieved record monthly and quarterly average daily volume in September and the third quarter of 2026.
Cboe's U.S. equities business currently operates trading from 4 a.m. ET to 8 p.m. ET, Monday through Friday, on two of its exchanges, and plans to launch trading 23 hours a day, 5 days a week on its Cboe BZX Exchange on December 6, subject to industry readiness. Cboe will not open a class of options if the underlying security has not opened and will generally halt an options class if its associated underlying security halts.
For more information on the new pre- and post-market options sessions, visit Equity Options Extended Trading Hours FAQ.
About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity and index derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.
Cboe Media Contacts
Cboe Analyst Contact
Angela Tu
Tim Cave
Kenneth Hill, CFA
+1-646-856-8734
+44 (0) 7593-506-719
+1-312-786-7559
[email protected]
[email protected]
[email protected]
CBOE-C
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Cboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners.
Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.
Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P or the third-party sites referenced in this press release. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.
Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice or a recommendation to buy or sell a security, future, or other financial product. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.
Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.
There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.
We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.
We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
Kumulovaný objem obchodů na decentralizovaných burzách (DEX) v síti Sei dosáhl 15,9 miliardy USD; platforma Saphyre zaznamenala za posledních 30 dní objem obchodů 276 milionů USD z celkových 278 milionů USD.
Sei Network’s decentralized exchange volume has reached $15.9 billion in cumulative terms. The milestone landed on October 19, 2026, and puts the trading-focused blockchain within shouting distance of the $16 billion mark.
The numbers behind the milestone
Sei is a Layer-1 blockchain that emphasizes low-latency execution, meaning trades confirm quickly enough to suit active traders. Over the 30 days leading up to October 19, Sei recorded $278 million in DEX volume.
Saphyre, the chain’s leading decentralized exchange, accounted for about $276 million of that total. Every other DEX on Sei combined handled roughly $2 million.
Sei’s 24-hour DEX volume currently sits at $6.61 million, up 15.41% on a weekly basis.
Total value locked, the pool of assets deposited into the network’s DeFi applications, stands at approximately $31.71 million. The past month’s trading volume ran to nearly nine times the capital sitting in Sei’s protocols.
From DragonSwap to Saphyre
Saphyre evolved from DragonSwap, an earlier exchange on the network, and has processed more than $6.6 billion in DEX volume on Sei over its lifetime. That means one venue and its predecessor account for more than 40% of all the trading volume Sei has ever recorded.
Sei passed $4 billion in cumulative DEX trading by early 2025, and the network logged multi-billion-dollar trading periods during that year. Getting from roughly $4 billion to $15.9 billion in under two years means the cumulative total has nearly quadrupled.
Background: a chain built for traders
Sei’s Pacific-1 mainnet went live in August 2023. The launch came alongside an airdrop of the SEI token, the network’s native asset, which handles transaction fees, network staking, and governance.
Sei Labs raised close to $35 million from investors including Multicoin Capital and Coinbase Ventures. The company was founded by Jayendra Jog, a former software engineer at Robinhood, and Jeff Feng, who has experience in investment banking at Goldman Sachs and venture investments at Coatue.
What this means for Sei and its users
The concentration is the obvious caveat. When one exchange processes about $276 million of $278 million in monthly volume, the network’s trading activity is effectively a bet on that single protocol continuing to operate smoothly.
At approximately $31.71 million, the TVL base is small relative to the volume running through it. Whether TVL grows alongside volume or stays flat is worth tracking.
The weekly uptick of 15.41% in daily volume is a modest positive signal. More trades mean more transaction fees paid in SEI, and a busier network gives stakers and governance participants more to oversee.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Pár EUR/JPY oslabil pod 178,00 kvůli nepokojům ve Francii a jestřábím signálům BoJ. Kurz zůstává pod 100denním klouzavým průměrem SMA na úrovni 182,75, což udržuje medvědí výhled.
The EUR/JPY cross trades with mild losses near 177.70 during the early European trading hours on Tuesday. The Euro (EUR) weakens against the Japanese Yen (JPY) as street riots in France raise concerns over political stability. Zew Surveys from Germany and the Eurozone will be released later on Tuesday. Also, European Central Bank (ECB) policymaker José Luis Escrivá is set to speak.
French authorities have imposed overnight curfews in parts of central Paris and other cities after a weekend of riots and looting across the country, per the BBC. French Prime Minister Sébastien Lecornu said on Monday that he was “fully resolved to restore public order” and had called for “local and partial” curfews if needed. There was “no question” of imposing a full curfew on entire cities, he said.
On the Japanese front, hawkish comments from a Bank of Japan (BoJ) policymaker could underpin the JPY. BoJ policy board member Junko Koeda said that there is no need to be excessively cautious about rate hikes given that upside inflation risks remain substantial.
Meanwhile, BoJ Governor Kazuo Ueda said on Monday that underlying inflation is "quite close" to the central bank's 2% target, with strong global AI demand adding to inflationary pressure from a tight job market, signalling scope for further rate increases.
Global bond selloff shifts focus to cross-currency rate tradesStrategists at Societe Generale note that the recent global bond rout has been broad-based, with the move in US Treasuries rippling across major markets. They highlight that “the bond selloff has put pressure on bonds everywhere, and a 1% rise in 10yr US yields this year has sent gilts up by 93bp, BTPs by 94bp and OATs by 123bp.”
Societe Generale argues that while this “brings its own narrative to the market,” the extent of the US move means “if the US rate story is getting stretched, that does reinforce the notion that selling EUR/JPY and GBP/AUD here, may be a better risk-reward strategy than selling EUR/USD and GBP/USD at these levels.” In their view, the current backdrop favours cross-currency relative-rate trades over outright Dollar or Pound positions.
Ueda keeps BoJ cautiously hawkish as inflation nears targetUeda’s 7/10 FXS Speechtracker score is slightly below the historic 7.4/10 baseline, but the emphasis on “underlying inflation near 2%” and a positive wages–prices loop marks a mildly hawkish tilt. The focus on demand-led inflation from robust global activity, tight labor markets and domestic capex, alongside warnings that miscalibrated policy could push long-term rates higher, reinforces a narrative that the BoJ is edging closer to further normalization while keeping financial conditions accommodative.
At the same time, Ueda’s insistence on no shift in the fundamental bond taper approach and refusal to preannounce emergency JGB measures signal a desire to avoid market overreaction while retaining flexibility. For FX, the combination of rising inflation, the prospect of steady increases in long-term yields if short-term rates are lifted, and a commitment to stabilizing the JGB market is modestly supportive for the Yen, especially if global risk sentiment remains fragile amid Middle East-driven energy price pressures.
Technical Analysis: Bearish tone of EUR/JPY prevails under the 100-day SMAIn the daily chart, EUR/JPY keeps a bearish tone as it holds below the 20-period Bollinger simple moving average and remains well under the 100-day simple moving average (SMA). Price is also capped beneath the upper Bollinger band, reinforcing a downside bias while the Relative Strength Index (14) at 42.80 suggests subdued momentum rather than oversold conditions.
On the downside, initial support level is located at the October 15 low of 176.52. The next contention level to watch is the lower limit of Bollinger band around 175.80, where sellers may consider booking profits on further weakness.
On the topside, immediate resistance level appears in the 177.95-178.00 zone, representing the 20-period Bollinger SMA and psychological level. A stronger barrier is seen at the upper boundary of Bollinger band near 180.10, while the 100-day SMA at 182.75 marks a major resistance level that would need to be reclaimed to ease the broader bearish pressure.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
Společnost Equinor 15. října 2026 odkoupila 389 058 vlastních akcií za průměrnou cenu 429,2415 NOK; v rámci programu tak celkem získala 4 167 500 akcií.
Please see below information about transactions made under the buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR) for shares to be used in the share-based incentive programmes for employees and management.
Date on which the buy-back programme was announced: 4 February 2026.
The duration of the buy-back programme: 13 February 2026 to 15 January 2027.
Size of the buy-back programme: The total purchase amount under the programme is NOK 1,971,000,000 and the maximum shares to be acquired is 19,600,000 shares, of which up to 7,920,000 shares can be acquired in the period from 13 February 2026 to 15 May 2026, and up to 11,680,000 shares can be acquired in the period from 15 May 2026 to 15 January 2027.
On 15 October 2026, Equinor ASA has purchased a total of 389,058 own shares at the Oslo Stock Exchange at an average price of NOK 429.2415 per share.
Aggregated overview of transactions per day:
DateAggregated volume (number of shares)Weighted average share price (NOK) Total transaction value (NOK) 15 October 2026389,058429.2415166,999,840Previously disclosed buy-backs under the programme (accumulated)3,778,442344.81071,302,847,119Total buy-backs under the programme4,167,500352.69271,469,846,959 Following the completion of the above transactions, Equinor ASA owns a total of 23,077,317 own shares, corresponding to 0.97% of Equinor ASA’s share capital, including shares purchased under the previous buy-back programme for the share-based incentive programmes for employees, and shares purchased under Equinor’s disclosed buy-back programmes which will be used to reduce the issued share capital of the company.
This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Appendix: A detailed overview of all transactions made under the buy-back programme that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.
Please see below information about transactions made under the third tranche of the 2026 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).
Date on which the buy-back tranche was announced: 22 July 2026.
The duration of the buy-back tranche: 23 July to no later than 26 October 2026.
Further information on the tranche can be found in the stock market announcement on its commencement dated 22 July 2026, available here: https://newsweb.oslobors.no/message/678529
From 12 October to 16 October 2026, Equinor ASA has purchased a total of 540,275 own shares at an average price of NOK 425.4849 per share.
Overview of transactions:
DateTrading venueAggregated daily volume (number of shares)Daily weighted average share price (NOK)Total daily transaction value (NOK) 12 OctoberOSE137,775418.322457,634,368.66 CEUX TQEX 13 OctoberOSE137,500420.993457,886,592.50 CEUX TQEX 14 OctoberOSE132,000431.516956,960,230.80 CEUX TQEX 15 OctoberOSE CEUX TQEX 16 OctoberOSE133,000431.561557,397,679.50 CEUX TQEX Total for the periodOSE540,275425.4849229,878,871.46 CEUX TQEX Previously disclosed buy-backs under the trancheOSE7,697,832396.52413,052,375,860.73CEUX TQEX Total7,697,832396.52413,052,375,860.73 Total buy-backs under the tranche (accumulated)OSE8,238,107398.42343,282,254,732.19CEUX TQEX Total8,238,107398.42343,282,254,732.19 Following completion of the above transactions, Equinor ASA owns a total of 23,077,317 own shares, corresponding to 0.97% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 11,773,082 own shares, corresponding to 0.49% of the share capital).
This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Appendix: An overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.
Chip stocks just had a tough two weeks. The PHLX Semiconductor Index, a widely followed measure of chip stocks, slid for eight straight trading sessions from Oct. 7 through Friday, Oct. 16. In that span the index dropped around 16%. Going by daily closing prices, it hadn't fallen so many days in a row since October 2008.
Nvidia (NVDA +1.38%) did better than the index but still slid about 10%, from a record close of $239.24 on Oct. 6 to $214.13. The sell-off came as worries over interest rate hikes, the financing behind artificial intelligence (AI) projects, and competition weighed on chip stocks worldwide.
The index bounced about 1.6% on Monday as of this writing. But after a fall like this, should investors buy Nvidia stock now or wait?
Image source: Getty Images.
Four gains, two lossesSince Nvidia's shares began trading in 1999, the chip index has fallen at least eight straight sessions six other times: in May and September 2002, May and June 2006, late December 2007 through early January 2008, and October 2008. (The May 2006 streak lasted nine sessions, so this one isn't a record. It's the longest in 18 years.)
To see what followed, I measured Nvidia's share price from the last day of each streak to the same date a year later, using daily closing prices and leaving out dividends.
Nvidia stock was higher a year later in four of the six cases. After the September 2002 streak, shares rose 118%. After the October 2008 streak, they more than doubled. The two 2006 streaks were followed by gains of 47% and 87%.
But the other two cases were ugly. A year after the May 2002 streak, the stock was down 31%.
A year after the streak that ended in January 2008, it was down 69%.
What separated the winners from the losers?Notably, both losing cases came before the worst of a long downturn in chip stocks. Measured the same way, the index itself was down another 22% a year after the May 2002 streak and another 38% a year after the one that ended in January 2008.
The two biggest gains came late in those same downturns. The index bottomed only around two weeks after the September 2002 streak ended, and about six weeks after the October 2008 streak. The 2006 streaks, meanwhile, came in a pullback that didn't last, and the index was up 4% and 13%, respectively, in the next 12 months.
In other words, the streak itself didn't tell investors much. What counted was where chip stocks were in a bigger downturn, and that was only clear looking back.
Nvidia's sales are still rising fastThat's why I'd focus on the business rather than the chart. And Nvidia's numbers don't look like those of a company heading for a slump, at least not yet.
Showing how strong demand for its chips remains, Nvidia's revenue in the second quarter of fiscal 2027 (the period ended July 26, 2026) surged 106% year over year, to $96.2 billion. That was an acceleration from 85% growth in fiscal Q1. Operating income climbed 124% from the year-ago quarter, to $63.7 billion. What's more, management guided for fiscal third-quarter revenue of $108 billion, plus or minus 2%, against $57.0 billion the year before. At the midpoint, that's growth of around 89% -- slower than in the second quarter, but still nearly 90%.
Of course, the worries driving this sell-off could become something bigger. If higher rates or tighter financing lead big customers to slow their data center spending, Nvidia's growth could cool fast. But so far, the company's own results don't show that happening.
NVDA Nvidia$217.09+$2.96 (+1.38%)
NASDAQ · As of 4:00 PM ET 10/19/26
Meanwhile, at around $217 as of this writing, Nvidia's stock trades at about 14 times the expected earnings for its fiscal 2028 (which ends in January 2028), using Wall Street's average estimate. Arguably, investors paying that price are already expecting growth to slow from here.
Does the losing streak make Nvidia stock a buy? Not by itself. In 2002 and early 2008, a drop like this turned out to be an early step in a far deeper decline in chip stocks.
But I think Nvidia's growth and its price make the stock worth a look today. Given how those two early streaks went, though, I'd probably buy in stages over a few months rather than all at once.
Společnost Johnson & Johnson uvedla, že přípravek TREMFYA po třech letech dosáhl klinické remise až u 94 % pacientů (172 ze 183) se středně těžkou až těžkou Crohnovou chorobou v dávkovacím režimu 100 mg každých osm týdnů; jde o analýzu „as observed“.
New TREMFYA® (guselkumab) 3-year as-observed data show clinical remission rates of up to 94% (172/183 patients) and endoscopic remission rates of up to 52% (89/172 patients) in adults with moderate to severe Crohn’s disease in the 100 mg q8w dose group1FUZION data show combined fistula remission was maintained through Week 48 across both maintenance dose regimens, including an increase from 28% at Week 24 to 35% at Week 48 in the 100 mg q8w dose group2Together, these findings expand the evidence for guselkumab across long-term disease management and one of the most difficult-to-treat manifestations of Crohn’s disease1,2 BEERSE, BELGIUM (19 October 2026) – Johnson & Johnson today announced new data that further expands the clinical evidence supporting TREMFYA® (guselkumab) in Crohn's disease (CD) at the 2026 United European Gastroenterology Week (UEG Week). Research from the Phase 3 GALAXI studies shows durable efficacy and a consistent safety profile for guselkumab through three years (Week 144) of maintenance treatment in adults with moderately to severely active CD, reinforcing its long-term benefit in this chronic, progressive disease.1 Additionally, late-breaking one-year results from the Phase 3 FUZION study showed that guselkumab maintained or improved fistula remission through Week 48 in adults with CD with perianal fistula.2
"The treatment goals in Crohn's disease continue to evolve beyond short-term symptom management towards achieving durable disease control that can be sustained over years," said Mark Graham, Therapeutic Area Head, Immunology, J&J Innovative Medicine EMEA. "These findings reinforce the potential of guselkumab across different stages and manifestations of Crohn's disease, from sustained remission over three years to encouraging outcomes in patients living with perianal fistula, one of the most challenging complications of the disease."
Crohn’s disease is one of the two main forms of inflammatory bowel disease (IBD), which affects an estimated two million people across Europe.3 Guselkumab is an IL-23p19 subunit inhibitor approved in IBD that blocks IL-23 and binds to CD64, a receptor on cells that produce IL-23.4,5,6,7 Findings for the unique mechanism of action are limited to in vitro studies, and the clinical significance of this finding is not known.8 IL-23 is a cytokine secreted by activated monocytes/macrophages and dendritic cells that is known to be a driver of immune-mediated diseases, including Crohn’s disease.9
Three-year GALAXI results support the known efficacy and safety profile of guselkumab
Patients in the GALAXI 2 and 3 studies received intravenous induction followed by one of two guselkumab maintenance dosing regimens: 100 mg administered subcutaneously every eight weeks (q8w; n=286) or 200 mg administered subcutaneously every four weeks (q4w; n=296).1 In total, 432/582 patients continued treatment through Week 144.1 These were as-observed analyses and do not represent outcomes in the full randomised population.1 Participants who discontinued, lacked Week 144 data or underwent dose adjustment were not included.1 Across both regimens, clinical and endoscopic remission were maintained through three years of treatment.1 At Week 144 in the long-term extension (LTE), the data show:a
94% (172/183) of patients receiving guselkumab 100 mg q8w and 91% (185/204) receiving guselkumab 200 mg q4w achieved clinical remission.b,189% (162/183) of patients receiving guselkumab 100 mg q8w and 88% (179/204) receiving guselkumab 200 mg q4w achieved 90-day corticosteroid-free clinical remission.152% (89/172) of patients receiving guselkumab 100 mg q8w and 61% (119/195) receiving guselkumab 200 mg q4w achieved endoscopic remission.c,174% (432/582) of guselkumab-treated patients remained on treatment through three years.1 Safety findings through Week 144 were consistent with the known safety profile of guselkumab in Crohn’s disease.1 Common adverse reactions associated with guselkumab include respiratory tract infections, diarrhoea, and injection site reactions.4
The three-year results demonstrate durable clinical, corticosteroid-free and endoscopic remission across both guselkumab maintenance regimens.1
"In a chronic condition such as Crohn's disease, maintaining remission is as important as achieving it," said Prof. Silvio Danese, Gastroenterologist and Professor of Gastroenterology at Vita-Salute San Raffaele University and IRCCS San Raffaele Hospital in Milan, Italy.d "The three-year GALAXI results provide valuable longer-term evidence, showing that high levels of clinical remission were accompanied by sustained endoscopic and corticosteroid-free outcomes across both guselkumab maintenance regimens."
New FUZION 48-week analysis extends evidence in Crohn’s disease with perianal fistula
The 48-week findings showed that combined fistula remission, which incorporates both clinical and radiological assessment, was maintained or improved in both guselkumab maintenance regimens.2 Among patients initially randomised to the guselkumab 100 mg q8w maintenance regime (n=113), combined fistula remissione further increased from 28% at Week 24 to 35% at Week 48.2,10 Results at Week 48 include patients who underwent blinded dose adjustment to guselkumab 200 mg every four weeks at Week 24 (n=55).2 Similar findings were observed for rates of clinically assessed fistula remission.f,2
Results among patients receiving guselkumab 200 mg every 4 weeks (q4w; n=115) remained consistent through Week 48 (27% at Week 24 to 26% at Week 48).2,10 Similar findings were observed for clinically assessed fistula remission.2 Overall, 90% of all randomised patients, which included both bio-naïve and bio-experienced patients, completed treatment through Week 48.2
“Perianal fistula remains one of the most debilitating complications of Crohn's disease, where achieving durable disease control beyond symptom improvement is a challenge,” said Ailsa Hart, Ph.D., Director of St Mark's Hospital Inflammatory Bowel Disease Research, Consultant Gastroenterologist, and study investigator.g “The latest findings from the FUZION study show that patients treated with guselkumab maintained or improved upon the clinical benefits observed at Week 24, providing encouraging evidence for its use in this patient population.”
Safety findings through Week 48 were consistent with the known safety profile of guselkumab in Crohn’s disease.2 Common adverse reactions associated with guselkumab include respiratory tract infections, diarrhoea, and injection site reactions.4
These results reinforce the previously shared Week 24 results from FUZION,2,10 making guselkumab the only IL-23 inhibitor to demonstrate efficacy in a dedicated, randomised, placebo-controlled trial in patients with Crohn’s disease with perianal fistula, one of the most difficult-to-treat manifestations of the disease.2
Together, the GALAXI and FUZION findings presented at UEG Week 2026 underscore the growing breadth of evidence supporting guselkumab across Crohn's disease, from sustained long-term remission in moderately to severely active disease to efficacy in patients living with complex fistulising complications.1,2,11
Editor’s notes:
The Week 144 clinical remission, 90-day corticosteroid-free clinical remission and endoscopic remission results above represent the as observed data for the three-year GALAXI analysis.1 The observed analysis set included participants who entered the LTE, received ≥1 partial or complete study drug dose during the LTE, remained on treatment, and had data available at Week 144; participants who had a dose adjustment were not included.1Clinical remission was defined as a CDAI score <150.1Endoscopic remission was defined as an SES-CD ≤4, with a ≥2-point reduction and no subscore >1 on any subcomponent.1Silvio Danese is a paid consultant for Johnson & Johnson. He has not been compensated for any media work.Combined fistula remission was defined as 100% closure of all external openings without development of new fistulas or abscesses and without any drainage by external openings, occurring spontaneously or after gentle finger compression and absence of collections >2cm of the perianal fistulas in at least two of three dimensions, confirmed by a blinded central review of the MRI results.2Clinically assessed fistula remission was defined as: 100% closure of all treated external openings without development of new fistulas or abscesses and without any drainage by external openings, occurring spontaneously or after gentle finger compression.2Ailsa Hart is a paid consultant for Johnson & Johnson. She has not been compensated for any media work. About the GALAXI programme (EudraCT 2017-002195-13)12
GALAXI is a double-blind, placebo-controlled, active-controlled (ustekinumab), parallel group, global, multicentre Phase 2/3 programme designed to evaluate the efficacy and safety of guselkumab in participants with moderately to severely active Crohn’s disease with inadequate response/intolerance to conventional therapies (immunomodulators, corticosteroids) and/or biologics (infliximab, adalimumab, certolizumab pegol, vedolizumab).12 GALAXI includes a Phase 2 dose-ranging study (GALAXI 1) and two independent, identically designed confirmatory Phase 3 studies (GALAXI 2 and 3, n=1021).12 Each GALAXI study employed a treat-through design in which participants remained on the treatment to which they were initially randomised and includes a long-term extension that will assess clinical, endoscopic, and safety outcomes with guselkumab through a total of five years.4,12,13 Clinical outcomes include clinical remission (Crohn's Disease Activity Index [CDAI] <150), while endoscopic outcomes include endoscopic response and endoscopic remission as assessed using the Simple Endoscopic Score for Crohn's Disease (SES-CD).12
About the FUZION study (EudraCT 2021-000491-10)14
FUZION is a randomised, placebo-controlled, double-blind, multicentre, Phase 3 study designed to evaluate the efficacy and safety of guselkumab in adults with Crohn’s disease with perianal fistula.14 Patients enrolled in the study had one or more active draining perianal fistulas confirmed by blinded central MRI review, Crohn’s Disease Activity Index [CDAI] <350, and inadequate response to oral corticosteroids, azathioprine, 6-mercaptopurine, methotrexate, or up to 2 advanced therapy classes.10,14 Patients were randomised 2:2:1 to receive guselkumab 200 mg intravenous (IV) induction at Weeks 0, 4, 8 followed by guselkumab 100 mg subcutaneous (SC) maintenance therapy every 8 weeks (q8w); or guselkumab 200 mg IV infusion at Weeks 0, 4, 8 followed by guselkumab 200 mg SC maintenance therapy every 4 weeks (q4w); or placebo.10
About Crohn’s disease
Crohn’s disease is one of the two main forms of inflammatory bowel disease, which affects an estimated two million people across Europe.3 Crohn’s disease is a chronic inflammatory condition of the gastrointestinal tract with no known cause, but the disease is associated with abnormalities of the immune system that could be triggered by a genetic predisposition, diet, or other environmental factors.15 Symptoms of Crohn’s disease can vary, but often include abdominal pain and tenderness, frequent diarrhoea, rectal bleeding, weight loss, and fever.16 There is currently no cure for Crohn’s disease.17
About guselkumab
Developed by Johnson & Johnson, guselkumab is the first approved fully-human, IL-23p19 subunit inhibitor that blocks IL-23 and binds to CD64, a receptor on cells that produce IL-23.4,5,6,7 Findings for the unique mechanism of action are limited to in vitro studies, and the clinical significance of this finding is not known.8
Guselkumab is approved in the EU for the treatment of moderate to severe plaque psoriasis (Pso) in adults who are candidates for systemic therapy and for the treatment of active psoriatic arthritis (PsA) in adult patients who have had an inadequate response or who have been intolerant to a prior disease-modifying anti-rheumatic drug therapy.4 It is also approved in the EU and U.S. for the treatment of adult patients with moderately to severely active ulcerative colitis who have had an inadequate response, lost response, or were intolerant to either conventional therapy, or a JAK inhibitor and for the treatment of adult patients with moderately to severely active Crohn’s disease who have had an inadequate response, lost response, or were intolerant to either conventional therapy or a biologic treatment.4,18
Johnson & Johnson maintains exclusive worldwide marketing rights to guselkumab.
Guselkumab important safety information
In controlled periods of clinical studies with guselkumab, adverse drug reactions (ADRs) that consisted of respiratory tract infections were very common (≥10 percent); increased transaminases, headache, diarrhoea, arthralgia, rash and injection site reactions were common (≥1 to <10 percent); and herpes simplex infections, tinea infections, gastroenteritis, decreased neutrophil count, hypersensitivity, anaphylaxis, and urticaria were rare ADRs (≥0.1 percent to <1 percent).4
Please refer to the Summary of Product Characteristics for full prescribing information for guselkumab: https://www.ema.europa.eu/en/documents/product-information/tremfya-epar-product-information_en.pdf
About Johnson & Johnson
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity.
Learn more at https://www.jnj.com/innovativemedicine/emea/
Follow us at https://www.linkedin.com/company/jnj-innovative-medicine-emea.
Cautions Concerning Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 related to TREMFYA®. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: competition, including technological advances, new products and patents attained by competitors; uncertainty of commercial success for new products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; changes in behaviour and spending patterns or financial distress of purchasers of health care products and services; and global health care reforms and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission.
Copies of these filings are available online at www.sec.gov, www.jnj.com, www.investor.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
Sands BE, et al. Efficacy and safety of guselkumab maintenance therapy in patients with moderately to severely active Crohn’s disease: results through week 144 from the phase 3 GALAXI 2 & 3 studies. Oral presentation (OP105) at the United European Gastroenterology Week Congress (UEGW). October 2026.Hart A, et al. Efficacy and safety of guselkumab in perianal fistulizing Crohn’s disease: Week 48 results from the Phase 3, randomized, double-blind, placebo-controlled FUZION trial. LB09 at the United European Gastroenterology Week Congress (UEGW). October 2026.Ng SC, et al. Worldwide incidence and prevalence of inflammatory bowel disease in the 21st century: a systematic review of population-based studies. The Lancet. 2017;390:2769-78.EU SmPC: European Medicines Agency. TREMFYA Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/documents/product-information/tremfya-epar-product-information_en.pdf . Accessed October 2026.EU SmPC: European Medicines Agency. Ilumetri Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/documents/product-information/ilumetri-epar-product-information_en.pdf. Accessed October 2026.EU SmPC: European Medicines Agency. Skyrizi Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/documents/product-information/skyrizi-epar-product-information_en.pdf. Accessed October 2026.EU SmPC: European Medicines Agency. Omvoh Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/documents/product-information/omvoh-epar-product-information_en.pdf. Accessed October 2026.Sachen KL, et al. Guselkumab binding to CD64+ IL-23–producing myeloid cells enhances potency for neutralizing IL-23 signaling. J Crohns Colitis. 2025; 12;16:1532852. Available at: https://doi.org/10.3389/fimmu.2025.1532852.Schinocca C, et al. Role of the IL-23/IL-17 pathway in rheumatic diseases: an overview. Frontiers in Immunology. 2021 Feb 22;12:321. Available at: https://doi.org/10.3389/fimmu.2021.637829.Sands BE, et al. Efficacy of guselkumab in perianal fistulizing Crohn’s disease: Week 24 results from the phase 3, randomized, double-blind, placebo-controlled, multicenter FUZION study. P5691 at ACG Annual Scientific Meeting 2026. October 2026.Schubert S, et al. Early symptomatic response to guselkumab in inflammatory bowel disease: first real-world data from the german GORGEOUS study. ePoster (PP1357) at the United European Gastroenterology Week (UEGW). October 2026.EU Clinical Trials Register. Clinicaltrialsregister.eu. A Phase 2/3, randomised, double-blind, placebo- and active-controlled, parallel-group, multicentre protocol to evaluate the efficacy and safety of guselkumab in participants with moderately to severely active Crohn’s disease (GALAXI). Identifier: 2017-002195-13. Available at: https://www.clinicaltrialsregister.eu/ctr-search/trial/2017-002195-13/ES. Accessed October 2026.ClinicalTrials.gov. A Study of the efficacy and safety of guselkumab in participants with moderately to severely active crohn's disease. Identifier: NCT03466411. Available at: https://clinicaltrials.gov/study/NCT03466411#study-plan. Accessed October 2026.ClinicalTrials.gov. A study of guselkumab in participants with fistulizing, perianal Crohn’s disease (FUZION CD). Identifier: NCT05347095. Available at: https://clinicaltrials.gov/study/NCT05347095. Accessed October 2026.Crohn’s & Colitis Foundation. Causes of Crohn’s disease. Available at: https://www.crohnscolitisfoundation.org/what-is-crohns-disease/causes. Accessed October 2026.Crohn’s & Colitis Foundation. Signs and symptoms of Crohn’s disease. Available at: https://www.crohnscolitisfoundation.org/what-is-crohns-disease/symptoms. Accessed October 2026.NHS. Crohn’s disease treatment. Available at: https://www.nhs.uk/conditions/crohns-disease/treatment/. Accessed October 2026.U.S. Food and Drug Administration. TREMFYA Prescribing Information. Available at: https://www.accessdata.fda.gov/drugsatfda_docs/label/2020/761061s009lbl.pdf. Accessed October 2026.
Silhouette opened its HyperCore perpetuals RFQ service on October 19, 2026, with $BTC and $HYPE markets and an initial cap of $100k per quote. The launch announcement says accepted trades print on Hyperliquid’s order book. Margin and positions stay in the trader’s own Hyperliquid account.
The service is public, with no waitlist or invitation requirement. In its longer announcement, Silhouette says working a large order in slices exposes the trader’s intent before execution is complete. Its RFQ asks competing makers to quote the full size before the trader chooses a price. The trade then uses Hyperliquid’s existing book and margin system.
A signed quote still goes through the book
The perpetuals documentation describes a request in which the taker selects a market, side, size and price limit. Makers respond for the requested size. To accept a quote, the taker must sign an order at that price and size; a quote cannot win automatically. If nobody quotes, or the taker accepts none before the window closes, there is no trade.
Silhouette first places the winning maker’s order on the book. It sends the taker’s order only if the maker’s order rests there. If the market has moved through the maker’s price and the order is rejected, the process stops before Silhouette sends the taker’s order. A stale quote can also fail. A maker that reprices requires a fresh acceptance, and cancellation ends once Silhouette starts placing the orders.
Silhouette sends the taker’s order once, as signed. It cannot fill above the accepted size or execute at a worse price before fees. The taker’s order never rests on the book. If better-priced liquidity sits ahead of the maker, the taker keeps the price improvement.
Full-size quotes do not guarantee full-size fills. Another trader can take the maker’s order before the taker’s order arrives. With no remaining liquidity at the agreed price or better, the request fails without a fill. If only part of the requested size is available, that part can execute and the request still displays as settled. Traders need to check the filled quantity to see how much exposure they added.
Fees sit outside the signed price
Silhouette’s fee schedule lists a 1.4 bps builder fee for HyperCore perpetuals. Hyperliquid charges it to the taker’s account on the fill. The maker’s order carries no Silhouette builder fee. Hyperliquid’s own taker fee applies separately at the trader’s fee tier, and funding continues to accrue on the position.
The published example uses a fill of 100,000 USDC notional: the builder charge is 14 USDC, before Hyperliquid’s own fee. If only 60,000 USDC fills, the builder charge is 8.40 USDC. Silhouette takes no additional spread on the perpetuals fill. The charge follows executed notional, including when execution covers less than the original request.
Neither the quote nor its price limit includes these fees. After fees, a buy can cost more per unit than the signed price, while a seller can receive less. Silhouette’s HyperEVM spot trades settle directly with makers; the perps trades pass through the Hyperliquid book. The perps service leaves funds in the Hyperliquid account and collects its charge through Hyperliquid’s builder mechanism.
Traders must approve the builder fee in their Hyperliquid account before using the service. If the rate rises above their existing allowance, they must approve it again. An approval below the required rate prevents Silhouette from sending the trade. Insufficient margin can separately cause Hyperliquid to reject the taker’s order.
Account permissions and closing exposure
The app requires a funded Hyperliquid account with $USDC margin, unified account mode and an approved signing key. The main wallet signs the setup actions: switching account mode, authorizing the key and approving the builder fee. After setup, the key signs orders when the trader accepts quotes, without a new main-wallet prompt. Those orders book to the main account. A key that stops working must be approved again from the main wallet.
The RFQ itself carries no leverage or margin-mode setting. Execution uses the settings already held for that market in the Hyperliquid account. The app shows leverage and margin mode on the request ticket, but those controls change the underlying account settings. The RFQ service has no separate margin account or independent position parameters.
Hyperliquid nets positions by market. To close a position, the app sends an ordinary order on the opposite side, and Silhouette does not cap that request at the size of the open position. A larger trade can close the existing position and open exposure in the opposite direction. The documentation tells traders to check their current size on Hyperliquid and keep the closing request at or below it.
API users can instead sign a reduce-only order. Hyperliquid checks that instruction against the position when execution occurs. The order can fill partially or not at all, but it can only shrink the position. The ordinary closing order submitted through the app lacks that protection.
Check Hyperliquid after a failed request
The RFQ result reports the filled quantity and average price before fees. Silhouette returns neither a Hyperliquid order ID nor a transaction hash. Hyperliquid holds the fill record and position, and traders can check the fill in their Hyperliquid trade history.
A position may exist even when Silhouette cannot confirm execution. The documentation says an unconfirmed request is final and will not be updated later. It instructs traders to check their Hyperliquid position after any failed perpetuals request before trading the same market again.
The launch announcement names HIP-3 markets and higher quote caps as planned additions. It gives no date for either expansion.
BlackRock podal SEC žádost o iShares Bitcoin Managed Protection ETF (PBIT), které má prostřednictvím opcí na IBIT omezovat ztráty výměnou za omezený růstový potenciál.
BlackRock has applied for another Bitcoin exchange-traded fund (ETF). The new product is designed to give investors some protection against losing money while still maintaining some of the possible gains. The filing is the latest indication of the asset manager’s increasingly active approach to investing in Bitcoin.
BlackRock Files for PBIT Bitcoin ETF BlackRock filed an application with the U.S. Securities and Exchange Commission (SEC) Monday to launch the iShares Bitcoin Managed Protection ETF. The fund will be listed on the exchanges under the symbol “PBIT”.
On X, Bloomberg Intelligence’s Senior Analyst James Seyffart posted a note on X explaining the filing. He termed the product a “buffer” Bitcoin ETF. Investors would get some protection against losses and forgo some reward for their investment.
The fund would be based on BlackRock’s iShares Bitcoin Trust ETF (IBIT), Seyffart said. These would define the fund’s investment outcomes, which would assist in the establishment of the fund’s defined investment outcomes.
He wrote, “Notably, this is the third Bitcoin ETF filing from them. Still only have Bitcoin and Ethereum products — no other cryptos.”
Notably, this is the third Bitcoin ETF filing from them. Still only have Bitcoin and Ethereum products — no other cryptos. Also, this product will hold $IBIT as the underlying asset and will write/buy options around it to generate the defined outcomes. It will be a 40 Act fund.
— James Seyffart (@JSeyff) October 19, 2026
The strategic structure of the fund is designed to be attractive to investors who are looking to get exposure to Bitcoin with defined risks. The level of protection and the upside limit, however, will be contingent on the ultimate conditions of the fund.
IBIT Remains BlackRock’s Flagship Bitcoin ETF BlackRock has introduced IBIT in January 2024. The fund has since more than doubled to $65.1 billion in assets under management, as tracked by The Block’s Bitcoin ETF tracker.
The asset manager continued to grow its products in June. It introduced its iShares Bitcoin Premium Income ETF, aiming to post monthly income via options and offer Bitcoin exposure.
PBIT would be another strategy to this list. While the primary exposure of the proposed fund will be Bitcoin, some option income could also be included with the goal of balancing potential gains with downside protection.
This structure does not offer investors complete protection from investment risk. The upside cap may also stifle returns if the price of Bitcoin rises sharply.
Asset Management Yet To Expand Beyond BTC & ETH Additionally, Seyffart emphasized that BlackRock has only a few crypto products. In the last few years, other issuers have launched ETFs that are correlated with XRP, Solana, and Dogecoin.
BlackRock, however, is still sticking to its Bitcoin and Ethereum products. The PBIT filing does not bring about exposure to another cryptocurrency, but it does expand its Bitcoin offerings.
Now, the market’s eyes are on the ETF’s protection threshold, upside cap and management fee as the process of registration continues.
Při růstu ceny Bitcoinu by se firemní nákupy mohly opět zrychlit, investoři však po boomu v roce 2025 budou financovat hlavně zavedené společnosti s disciplinovaným přístupem k financování.
Corporate Bitcoin purchases could accelerate toward the end of 2026 and into 2027 if the cryptocurrency rallies, but investors are likely to be more selective about which treasury companies they finance, according to analysts.
Speaking to Cointelegraph, Bitwise head of research Ryan Rasmussen said there was a broad slowdown in Bitcoin treasury buying in Q3. Strategy’s Bitcoin holdings increased by a net 1,666 BTC in Q3, down from 83,901 BTC in Q2, according to company filings. Other public companies added a net 5,617 BTC, compared with 45,725 BTC in the previous quarter, according to figures supplied by Rasmussen.
Rasmussen said he expects a re-acceleration of corporate Bitcoin purchases to begin as early as this year. Bitfinex head of derivatives Jag Kooner said renewed buying could follow if treasury companies regain premiums to the value of their Bitcoin holdings, but cautioned that investors have become more selective since the 2025 treasury boom.
“Shareholders have seen premiums collapse and some companies sell into weakness. Investors are now pricing these businesses on funding costs, balance-sheet discipline and bitcoin per share,” said Kooner.
“A rally could therefore restart buying, particularly among companies with credible financing structures but a return to last year’s indiscriminate capital raising looks unlikely.”Established Bitcoin treasuries may get first access to capital Bitwise’s October market report also showed a decline in the number of Bitcoin treasuries in Q3, driven by smaller companies abandoning their Bitcoin treasury strategies. A dozen companies that entered during the 2025 treasury boom sold their entire holdings mostly to repay debt or return cash to shareholders after their stock premiums evaporated, said Rasmussen.
Kooner expects established players to attract capital first if buying resumes.
“Initially, capital would likely gravitate towards established players, which have the scale, the liquidity in their own securities and the track record investors now demand,” he said.
Rasmussen said most of the largest corporate buyers outside Strategy were operating businesses adding Bitcoin from cash flow rather than issuing stock to fund purchases. That represents “a smaller source of demand but a healthier one,” he said.
Meanwhile, Kooner cautioned that a broader resurgence of new treasury-companies could emerge only after a rally is well underway.
“A broad wave of new listings would most likely arrive late in a rally, once premiums have widened and that timing is itself a warning sign.”
Bitcoin ETFs could support recovery without treasury boom Even without another corporate Bitcoin buying boom, Rasmussen said there will be other drivers for a Bitcoin recovery, pointing to $6.4 billion in spot Bitcoin net inflow in Q3.
“Corporate purchases are one source of demand for bitcoin, but not the only source,” he said.
Kooner agreed ETF demand could sustain the recovery for a period, but cautioned that some activity reflects basis trades that can unwind quickly.
“Without corporate buying, the market loses a price-insensitive bid and becomes more dependent on allocators who rebalance with macro conditions,” he said.
Recent flows show that ETF demand can reverse. US spot Bitcoin ETFs recorded around $229 million in net outflows last week, their second consecutive week of net withdrawals, according to SoSoValue data.
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BlackRock iShares Bitcoin Trust (IBIT) v pondělí zaznamenal čistý příliv 665,2 milionu USD, čímž celkový čistý příliv do amerických spotových ETF na bitcoin vzrostl na 526,7 milionu USD.
BlackRock’s iShares Bitcoin Trust took in $665.2 million in net inflows on Monday, October 19, 2026. On a day when several rivals lost money, that one fund did most of the lifting for the entire category.
Spot ether ETFs had a rougher start to the week. They posted $103.3 million in net outflows, extending a streak of redemptions that had already been building.
One fund, one direction
The fund, which trades under the ticker IBIT, was the clear standout of the session. Its $665.2 million haul came while two of its best-known competitors moved the other way.
Fidelity’s FBTC recorded $83.6 million in outflows. Grayscale’s GBTC shed $54.9 million.
Put those together and US spot Bitcoin ETFs finished the day with a combined net inflow of $526.7 million.
Meanwhile, Bitcoin itself traded between $78,700 and $82,800 during this period.
Ether funds keep leaking
The picture for ether products was the mirror image. Spot ether ETFs lost $103.3 million in net flows on Monday.
That followed a week of steady withdrawals. For the week ending October 16, outflows from spot ether ETFs reached approximately $320 million.
For context on how these products work, a spot ETF holds the underlying asset directly. Buying a share of IBIT gives an investor exposure to Bitcoin’s price through an ordinary brokerage account, with no wallet or private keys to manage.
What the split could signal
The research behind these figures frames the IBIT inflow as a possible sign of strong institutional interest in Bitcoin. It also suggests that, given Bitcoin’s relatively steady trading range, the inflow may point to a strategic accumulation phase by larger investors.
The ether side tells a more cautious story. The same research suggests the contrasting performance of Bitcoin and ether ETFs points to a more guarded outlook on ether, with sentiment and market dynamics that might favor Bitcoin in the short term.
By mid-October 2026, cumulative net inflows into US spot Bitcoin ETFs had surpassed $56 billion, with BlackRock’s IBIT consistently capturing the largest market share. Spot Ether ETFs entered October 2026 with net outflows exceeding $950 million for the month to date.
For now, Monday’s data offers a clear snapshot: a $526.7 million net gain for spot Bitcoin ETFs, nearly all of it explained by a single BlackRock fund, alongside a $103.3 million drain from ether products.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Bitcoin is heading towards a second consecutive red October as selling pressure undermines the seasonal “Uptober” narrative. As of 19th October, Bitcoin [BTC] was down 1.35% for the month, while historically October has returned an average of 18.40%.
That decline comes after a September of +6.33%. So, it would seem that the momentum gained during the last recovery period has been fading. While broader market uncertainty and profit-taking may have contributed to the decline in prices, the monthly returns alone cannot confirm the exact triggers.
Bitcoin’s 20.48% June decline highlighted how quickly selling can overwhelm recovery attempts, while August’s 24.95% rebound underlined the market’s volatility.
Source: CoinGlass Two consecutive negative Octobers could weigh on investor confidence, given that Bitcoin is already down over the month. This is in regard to seasonal rallies and makes it more likely that they will require better confirmation before purchasing.
Additionally, a lack of confidence due to lower risk appetite among investors in general could impact altcoins negatively. For Bitcoin to record a sustained recovery, renewed spot demand and improved conviction among buyers need to be realized.
Bitcoin whales accumulate as retail selling rises At the same time, while Bitcoin noted difficulty sustaining October’s rally, on-chain data demonstrated a widening gap between retail investors and whales. In fact, on-chain data indicated that retail investors have been selling their coins more aggressively than large investors have been acquiring them.
Retail-linked deposits to Binance increased much faster than whale inflows over the recent 30-day period. Retail-linked deposits rose from $7 billion to $10.78 billion, representing a 54% hike over the recent 30 days.
Whale inflows were up just 9.5% over that same period and hit $4.6 billion. Therefore, the gap increased from $2.8 billion to $6.18 billion. In short, retail investors have been offloading coins at a far faster rate than the pace at which whales may be buying them.
Source: CryptoQuant On the other hand, the behavior demonstrated by whales might offer a contrasting view. Between 27th September and 19th October, the distribution trend demonstrated by those whales holding 1,000 – 10,000 BTC reversed.
The amount distributed fell from 62,600 BTC to 5,230 BTC and therefore turned the trend into accumulation. Furthermore, the 100-1,000 BTC cohort has been in accumulation since mid-July despite a decline in their balance of 75,000 BTC.
Source: CryptoQuant Taken together, these two trends demonstrate that whales have been exhibiting far greater resiliency than retail investors.
However, if whales continue to accumulate and remain resilient, they could potentially act as a buffer against future selling pressure in relation to Bitcoin. Nevertheless, further retail deposits could limit near-term price appreciation.
Final Summary Bitcoin risks a second consecutive red October as its monthly returns fell to 1.35%, weakening the Uptober outlook.
BTC whales flashed signs of renewed accumulation as retail inflows to Binance rose 54%, creating mixed signals for price recovery.
J.P. Morgan Asset Management poprvé zařadil Bitcoin do dlouhodobých prognóz a očekává jeho složený roční výnos ve výši 10 %, tedy vyšší než u amerických akcií i zlata.
J.P. Morgan Asset Management now expects Bitcoin to beat US stocks, gold, and REITs over the next ten years. That forecast comes from the bank’s “Long-Term Capital Market Assumptions 2027” report.
The numbers behind the forecast
The report was unveiled around October 19, 2026. It puts Bitcoin’s expected compound return at 10% a year, ahead of US large-cap equities at 7.5% and gold at 5.5%.
According to the research findings, Bitcoin is now the highest-returning asset class in the history of the report’s long-term projections. It also marks the first time Bitcoin has appeared in J.P. Morgan’s annual LTCMA at all.
The report pegs Bitcoin’s annualized volatility at 55%, compared with roughly 18% for large-cap stocks and 17.2% for gold.
J.P. Morgan estimates Bitcoin’s annualized arithmetic return at 20.9%, roughly double the 10% compound figure. Arithmetic return is the simple average of each year’s gain or loss. Compound return is what an investor actually ends up with after holding through the ups and downs. Big drawdowns eat into compounding: lose half your money and you need to double it just to get back to even.
A forecast, not a recommendation
Bitcoin is included in the return projections, but it is left out of the report’s sample portfolio allocations. J.P. Morgan is willing to say what it thinks Bitcoin might earn, but is not yet willing to tell clients how much of it to own.
Bitcoin is also the only digital asset in the document. No other tokens appear anywhere in the LTCMA assumptions.
Bitwise CIO Matt Hougan described the moment as a shift in how institutions view Bitcoin, noting the asset has moved from something big firms opposed to something they now build into formal forecasts.
How J.P. Morgan got here
The bank’s research teams have previously set shorter-term price targets around $170,000 and reiterated a long-term parity level of $266,000. That figure reflects a scenario in which Bitcoin matches gold on a volatility-adjusted basis.
Bitcoin currently trades near $82,000. The shorter-term target implies roughly a doubling from current levels, and the parity scenario implies considerably more.
What this means for investors and institutions
The gap between 20.9% arithmetic and 10% compound returns shows how much of Bitcoin’s theoretical upside gets consumed by its own turbulence. Bitcoin’s 55% volatility makes that gap unusually large compared to equities and gold.
The exclusion from sample portfolios marks the gap between acknowledging an asset and actually recommending it. If a future edition of the LTCMA moves Bitcoin from the forecast table into model allocations, that would mark a more consequential shift.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Vývojáři XRP Ledger před spuštěním opravují protokol LendingProtocol prostřednictvím dodatku LendingProtocolV1_1. Aktivace vyžaduje podporu alespoň 80 % důvěryhodných validátorů po dobu dvou týdnů.
In brief
XRP Ledger developers are patching its new lending protocol before it goes live, adding a follow-up amendment to fix the original LendingProtocol code while it’s still in the network’s voting queue.
The protocol enables on-chain, fixed-term, uncollateralized loans using pooled funds and “first-loss capital” to absorb defaults, relying on off-chain underwriting rather than automated collateral; amendments need 80% validator support over two weeks to activate.
The pre-launch fix follows a recent near-miss when developers patched a dormant payment-engine bug that could have minted counterfeit XRP.
The XRP Ledger is patching its new lending feature before a single loan has been written on it, adding a second code amendment to repair the system while it waits in the network’s approval queue.
The ledger’s lending protocol, a DeFi building block that enables on-chain, fixed-term, uncollateralized loans drawn from pooled funds, was introduced through an amendment called LendingProtocol that is still open for validator voting.
Myriad: Where does Solana go next? Click to make your prediction.Rather than wait for that version to go live and then fix it, developers have published a follow-up, LendingProtocolV1_1, that corrects issues in the original before it ever takes effect. The documentation now lists both amendments as requirements for the feature, meaning the network would adopt the repaired version from the start.
The approach reflects how changes reach the XRP Ledger. New features and fixes ship as amendments that must earn support from at least 80% of trusted validators over a two-week period before activating.
Because the original lending code hasn’t cleared that bar yet, patching it with a second amendment avoids launching a known-flawed system onto the live network, then scrambling to repair it afterward.
The protocol itself is built for institutional-style credit rather than the collateral-and-liquidation model common in DeFi. It relies on off-chain underwriting to vet borrowers and uses “first-loss capital,” a buffer a loan broker puts up to absorb the initial hit from defaults, in place of automated on-chain collateral. Issuers retain compliance tools, including the ability to freeze accounts or claw back funds.
The caution follows a close call elsewhere in the ledger’s code. Developers recently disclosed and fixed a critical bug in the XRP Ledger’s payment engine that could have let an attacker mint counterfeit XRP, a flaw that sat dormant for roughly a decade before a researcher flagged it. Fixing the lending code pre-launch fits a more cautious posture around new functionality.
The lending feature is part of a broader buildout of credit and DeFi capabilities on the XRP Ledger, which has been adding the financial-market plumbing Ripple and others have long said it lacked.
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XRP faced renewed selling pressure despite Ripple Prime’s reported entry into the Depository Trust & Clearing Corporation’s (DTCC) tokenization initiative, with the token declining 0.24% to $1.3040 over the past 24 hours. The recent announcement has not spurred a price rally, leaving traders focused on critical technical levels and market reaction.
Ripple Prime’s DTCC Participation Under ScrutinyA post from analyst Amonyx called attention to Ripple Prime, a division of Ripple Labs specializing in institutional solutions, joining the DTCC’s new asset tokenization initiative. The DTCC, the leading US post-trade financial services company, reportedly manages $114 trillion in assets under custody.
However, the details released so far do not indicate that XRP itself will be used directly in the tokenization process. Market observers noted that while Ripple’s involvement in the project highlights its institutional growth, speculation over XRP’s role remains unresolved.
Ripple’s participation in the DTCC’s tokenization initiative has drawn attention to institutional adoption, but the announcement does not confirm direct integration of XRP in the project, leaving investors watching for further clarity.
Amonyx emphasized the scale of the DTCC initiative, underlining the significance for $XRP, but acknowledged that excitement remains contingent on whether the program creates tangible utility for the token.
Mini dictionary: DTCC – The Depository Trust & Clearing Corporation is the central infrastructure provider for clearing, settlement, and information services for US financial markets. It is widely regarded as a backbone of the traditional securities industry, handling trillions of dollars in daily transactions.
Technical Levels: Key Support and ResistanceFollowing a September rally, XRP has lost momentum, falling below the 50-day moving average at $1.4144 and trading near its 200-day moving average at $1.2800. Technical analysts pointed out that the 200-day line is now a crucial support level. A sustained hold above it could stabilize the price; however, a further decline would likely increase downside risk.
Resistance sits at $1.4144 and a stronger barrier at $1.4895. Any move above the 50-day average may shift momentum toward the bullish side, while remaining below this level leaves the token exposed to further consolidation.
Price LevelSignificance$1.2800200-day moving average, key support$1.414450-day moving average, immediate resistance$1.4895Major resistanceDerivatives Data and Market ActivityCoinGlass derivatives data showed a decline in open interest from late September highs, moving alongside XRP’s falling price. This trend suggests a reduction in outstanding futures positions, but does not definitively signal whether the futures market is leaning bullish or bearish.
Trading volumes have also eased from previous peaks, with occasional spikes persisting. This indicates that October’s price drop has occurred without a sharp increase in trading activity compared to earlier periods.
XRP’s lower open interest and subdued volume reflect reduced speculative interest following September’s activity, leaving traders awaiting fresh catalysts.
ETF Flows: Outflows Temper SentimentAccording to data provider SoSoValue, XRP spot ETFs recorded a net outflow of $2.47 million on October 16, 2026. By that date, total net assets of these funds reached $1.47 billion, with cumulative inflows standing at $1.80 billion.
The negative daily flow signals near-term selling pressure, even as the longer-term picture remains positive due to the sum of inflows. Analysts noted these figures pertain to transactions through October 16, and do not guarantee the trend continues in subsequent days.
DateDaily Net FlowTotal Net AssetsCumulative Net InflowOctober 16, 2026-$2.47 million$1.47 billion$1.80 billionShort-Term Outlook and Next StepsXRP’s immediate prospects depend on whether buyers can defend the $1.2800 support and recover the $1.4144 resistance. The moving average convergence divergence (MACD) indicator remains negative, with the MACD line at -0.0367 below the signal line at -0.0210 and the histogram at -0.0157, sustaining a bearish momentum profile.
A recovery above the 50-day moving average could trigger renewed upward momentum toward $1.4895, while a break below the 200-day moving average would reinforce the risk of further declines.
Ripple Prime’s institutional partnership narrative has influenced market sentiment, but traders are seeking clearer evidence of direct XRP utility or investment inflows before adopting a more bullish stance. Volatility remains high, with key levels and derivative data playing a central role in the near-term XRP market outlook.
Evernorth Holdings zaregistrovala k vydání 11 499 992 akcií třídy A při uplatnění warrantů a plánuje financovat nákupy XRP do své pokladny prodejem dalších akcií.
Ripple-backed Evernorth Holdings has submitted a new prospectus for approximately 11.5 million XRPN tokens to help build its XRP treasury. The SEC filing from October lists 11,499,992 Class A common shares which can be sold upon the exercise of public warrants. Evernorth has also announced its intention to sell more shares to acquire more XRP, as part of its focus to expand the company’s treasury.
Evernorth Registers 11.5M Shares As XRPN Trades Above Exercise Price The public warrants have an expiration date of December 27, 2012 and are to be redeemed at $11.50 per XRPN share. As of Oct. 16, the prospectus price of the XRPN stock is $15.45 and the XRPN warrant $4.16, according to the SEC filing.
This means that the warrants are in the money because the stock is currently trading at above the exercise price. Depending on market conditions and terms, cash exercise might become attractive for the warrant holder.
Yet, this does not imply that 11.5 million XRPN stock shares have been released. Actual number will vary based on warrant exercises. If warrant holders exercise their cash warrants at $11.50 a share, Evernorth will receive cash proceeds.
Evernorth has registered 11,499,992 Class A shares issuable on warrant exercise at $11.50. Shares last traded at $15.45 and warrants at $4.16 (Oct 16), so the warrants are in the money.
Evernorth has stated plans to issue more shares to buy more $XRP. 💥 https://t.co/9eviNTGo7d pic.twitter.com/Kw5NE5EjXR
— Xaif Crypto (@Xaif_Crypto) October 20, 2026
The company will not receive any proceeds of the sale of shares covered by the prospectus.
More XRP Buying In Focus As Evernorth Expands Treasury Strategy The new release follows Evernorth’s recent XRP-focused strategy as it pursues it. It has announced that it intends to sell more units to help it buy more of XRP. It is viewed as a bullish news for XRP price, which is in a consolidation phase currently.
The prospectus doesn’t indicate whether the new XRP were purchased, nor does it state that proceeds generated from the exercise of warrants will be used to acquire the native XRP. However, if the warrants are exercised for cash and the company decides to use the proceeds for XRP, it would be a way to get additional capital.
Another thing in focus is the potential for share dilution with the filing. Warrant holders may exercise their warrants and receive additional shares of Evernorth, which could increase the number of XRPN stock shares outstanding.
With the increase in the total number of shares, each existing shareholder would have a smaller percentage of his or her company stock.
For XRP investors, the key question is whether Evernorth can turn future capital raising into additional XRP accumulation. The registration comes with a potential path for granting funds with a warrant, but any funds raised and purchase of XRP will be subject to future decision-making.
Trh opcí na ETH vykazuje defenzivní nastavení: sedmidenní put opce se obchodují s prémií implikované volatility až 8 procentních bodů oproti call opcím.
Ethereum traders are buying insurance, and they are paying a premium for it.
On October 19, 2026, ETH options markets showed a clear downside skew. Short-dated puts traded at a meaningful premium to calls, which signals that traders are more worried about a drop than excited about a rally.
ETH has slipped roughly 8% over the past month while Bitcoin quietly held its ground, gaining 1.5% over the same stretch.
What the options market is saying Data from Block Scholes showed seven-day ETH puts trading at an implied volatility premium of up to 8 percentage points over calls.
The 1-week 25-delta skew for ETH stood at +7.4 vol points, sitting at the 11th percentile. The 25-delta skew compares the price of puts and calls that are similarly far from the current price. A positive reading means puts are richer, so traders are leaning defensive.
ETH’s 7-day implied volatility climbed nearly 10 points, a sign that tension is building in the near-term contracts.
Further out on the curve, the tone softens but does not flip. The 30-day 25-delta skew came in at +3.1 vol points. Puts are still favored on a monthly view, just with less urgency than in the one-week window.
A tale of two assets Bitcoin has held a range between $80,000 and $84,000. ETH, by contrast, has been referenced around $2,400 in spot trading.
Both assets have seen their put-call skews widen since early October. A decline in AI and tech equities has weighed on sentiment, and that caution has spilled into crypto. ETH has taken the bigger hit, while Bitcoin has mostly shrugged.
Calls still dominate open interest Despite the defensive skew, ETH options open interest remains heavily tilted toward calls. Calls make up approximately 63% of open interest, with puts at roughly 37%. Total open interest for ETH options was approximately $6.09 billion.
The call wall sits at $2,600, while the put wall rests at $2,300. With spot near $2,400, ETH is trading between those two markers, closer to the put side than the call side.
What this means for traders For anyone using options to hedge, the cost of that hedge has gone up. Buying short-dated puts now means paying a premium compared with a few weeks ago. Selling puts, on the other hand, pays more, though it comes with the obvious risk of being on the hook if prices fall.
The $2,300 put wall is the level many traders will likely have circled. A move toward that zone would test whether the defensive positioning was prescient or simply expensive peace of mind.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
When Volkswagen turned to EV maker Xpeng in 2023 to help fix its flailing Chinese business, executives touted the partnership as a shortcut to developing cars tailored for China at the high speed of the local auto sector.
Three years later, the alliance’s first product exemplifies Volkswagen’s descent in the world’s largest car market. The ID. UNYX 08 electric SUV sold an average of 267 vehicles a month between its April launch and August, data from automotive consultancy ThinkerCar show. That’s a fraction of the 3,622 monthly sales Volkswagen initially aimed to achieve this year, according to company planning documents.
The weak debut reflects Volkswagen’s battle to revive its fortunes in China, where it reigned for decades until 2022 as the top automaker. China represents the challenge at the heart of Volkswagen’s global crisis: A market that once contributed nearly 50% of group profits now accounts for about 10%. That stunning reversal has forced the company into the biggest restructuring in its 89-year history.
The UNYX 08 also highlights a persistent problem in Volkswagen's China strategy. Volkswagen (VOWG.DE) recognized the market’s shift toward higher-end technology and sought local partners to catch up. Yet the German automaker struggled to turn those bets into commercial success.
This report is based on a Reuters review of previously unreported company documents and interviews with six people familiar with Volkswagen, including current and former executives and consultants. It shows the automaker's ambitions ran ahead of what its products, pricing and sales strategy could deliver.
Volkswagen sold the UNYX 08 through a nascent and limited distribution network. The vehicle also struggled against newer, software-laden Chinese electric SUVs.
Volkswagen didn’t comment on the sales forecasts in the documents. In a statement, the automaker said its partnership with Xpeng has delivered a new electric architecture to underpin locally made models and support faster vehicle development – a project it said was completed in a record 18 months. The UNYX 08 SUV and the related UNYX 09 sedan were additional outcomes of the tie-up, the company added.
Xpeng (9868.HK) declined to comment.
Problems with the UNYX 08 began with the vehicle itself. The car launched with a price tag of about $34,260. But similarly priced Chinese rivals offered more-sophisticated features. Xiaomi’s YU7 had an advanced sensor package; Zeekr's 7X offered fast charging. Xiaomi sold almost 57,000 YU7s and Zeekr sold more than 21,000 7Xs between April and August, compared with about 1,300 UNYX 08s, according to ThinkerCar.
"Chinese customers ask: Why buy an expensive German car if they can get the technology much cheaper,” said Pedro Pacheco, vice president of research at Gartner.
Stephen Reitman, an auto analyst at Bernstein, recalled that Volkswagen showed analysts computer renderings of the Xpeng-linked models in April 2024. "The next day we went to the Beijing auto show and you could basically see this kind of design already on the market," Reitman said.
A distribution gamble compounded the product’s challenges, five people told Reuters. Volkswagen largely sold the UNYX 08 through a separate, new dealer network run by Volkswagen Anhui, an EV-focused venture, rather than the more than 3,000 dealerships Volkswagen operated with joint-venture partners FAW and SAIC (600104.SS).
Volkswagen Anhui’s far-smaller footprint meant many consumers were unaware the vehicle existed, two of the people said.
Volkswagen said sales of the Anhui models, including the earlier UNYX 06 and 07, were growing. The unit had expanded its sales network to 166 outlets and was working with FAW-Volkswagen at selected dealerships, the company said, adding that this approach aimed to reach more customers.
FAW and SAIC didn’t respond to questions.
For Volkswagen, the Xpeng partnership follows a string of troubled ventures, missed opportunities and abandoned initiatives in China that spanned batteries, autonomous driving, charging infrastructure, software and even flying cars.
Volkswagen was “too slow in building the competence they need today,” said Stefan Bratzel, founder and director of the Center of Automotive Management, a German research institute.
The dilemma faces nearly every foreign automaker in China. Having fallen behind in software, batteries and vehicle platforms, foreign brands have turned to Chinese partners to stay in the game. Yet access to Chinese technology doesn’t guarantee they can match local rivals’ speed, execution or appeal with consumers.
Chinese brands led by BYD and Geely have gained share by bringing software-rich vehicles to market faster and often at lower prices, forcing once-dominant rivals including Volkswagen and Toyota to fight for relevance.
ANOTHER BIG BET
Despite the UNYX 08’s weak reception, Volkswagen is setting similarly aggressive targets for its next model developed with Xpeng, the UNYX 09 sedan. The car is due to reach showrooms this month.
Company product-planning documents earlier this year forecast average monthly sales of nearly 4,900 vehicles, with annual volume exceeding 90,000 by 2034.
At Volkswagen, ambitious forecasts can be essential to securing approval for new models from Wolfsburg headquarters, which can incentivize managers to submit optimistic projections, according to two people familiar with its planning.
Volkswagen initially expected to sell 32,600 UNYX 08s through the end of 2026 and 70,400 next year, the planning documents show. Those plans, made in 2024, show the automaker also expected annual sales of more than 120,000 vehicles later in the product cycle.
But early this year, Volkswagen cut the 2026 projection by more than 60% to 12,300 vehicles, the documents show. It nevertheless forecast sales of 64,000 in 2027, about 10% below the initial target.
In recent weeks, the company has been advertising the UNYX 08 at a 17% discount on the April launch price.
‘MARRIAGE AND DIVORCE’
Volkswagen saw the Chinese disruption coming. At a 2019 presentation for investors and shareholders, Volkswagen Group China said it was preparing nearly 40 locally produced new-energy vehicle models — EVs and plug-in hybrids — by 2025 and could deliver 1.5 million in China that year.
It achieved less than one-tenth of that target, delivering 115,500 battery-electric vehicles in China last year, according to company data.
As China's EV market accelerated, Volkswagen explored various local tie-ups, hoping to unlock the speed and expertise it lacked, according to three people, corporate records and public announcements.
Two people familiar with Volkswagen's China partnerships said the company called this approach "marriage and divorce" – forming alliances with local companies to learn from them, then exiting once it had absorbed what it needed.
Around the time Ralf Brandstaetter became Volkswagen China's chief executive in August 2022, the automaker explored cooperation with BYD – China’s largest EV maker – including potentially using BYD's Dolphin platform for the Jetta brand, according to two people. Those efforts haven’t been previously reported.
During due diligence, Volkswagen staff examining BYD's finances were struck by the Chinese automaker's lower manufacturing costs, one of the people said. BYD (002594.SZ) wasn’t interested in collaborating, the two sources said. Reuters couldn’t establish why a deal didn’t happen.
The Chinese EV maker would seize Volkswagen’s crown as China’s sales leader in 2023.
That same year, Volkswagen also explored a partnership with Leapmotor (9863.HK), according to the two people. Stellantis (STLAM.MI) ultimately struck a deal with Leapmotor later that year.
Volkswagen’s statement didn’t address the BYD and Leapmotor talks. BYD didn’t comment, while Leapmotor didn’t respond to questions.
Some partnerships that did materialize generated new problems rather than solving old ones. Reuters reported in July that Volkswagen's canceled flying-car project had become mired in legal disputes with a Chinese partner.
A venture with Chinese startup Du-Power to build fast-charging stations also went awry. The tie-up, launched in 2020, ended in shareholder disputes, litigation and supplier complaints alleging unpaid bills, corporate filings show. In 2024, the startup sued Volkswagen China and the venture’s executives and directors, alleging harm to its business interests.
Volkswagen told Reuters that China’s Supreme People’s Court dismissed the startup’s claims in March. Neither Du-Power nor the court responded to questions.
‘EXCEPTIONAL’ CONTRACTION
In some ways, Volkswagen’s predicament illustrates the success of China's industrial policy. In exchange for market access, Volkswagen tied up with Chinese automakers, shared technology and invested — only to be outsold by local players.
Those checkered bets are now colliding with a market in convulsion after years of breakneck growth.
In a September 10 message to staff reviewed by Reuters, Brandstaetter described an industry facing an "exceptional" contraction. He said Volkswagen expected China’s passenger-car market to shrink by 20% this year, or about 4.5 million vehicles.
Brandstaetter said industry profit margins had fallen to 1.5%, product cycles had compressed from seven years to three, and new EV models were seeing steep sales declines after three months.
Volkswagen, he wrote, must urgently "align our production capacities with market realities" and eliminate "unnecessary duplication" among China brands and entities — a reckoning with a crisis years in the making.
In 2019, one in five passenger cars sold in China was a Volkswagen. In the first eight months of this year, the group’s share had fallen to 10%, according to the China Passenger Car Association.
What distinguishes Volkswagen’s plight is its deep dependence on China and its struggle to execute a decisive transformation in a market now dominated by Chinese companies. That made its Xpeng bet pivotal.
One former Volkswagen figure compared its predicament to that faced by Nokia, Kodak and BlackBerry: The automaker’s leadership assumed its brands would endure, even as the market shifted toward Chinese competitors with superior technology and faster innovation cycles.
Bill Russo, founder of Shanghai-based advisory firm Automobility, sees the comparison as a useful warning but not yet a verdict. Volkswagen still has a path to recovery, he said.
The risk, he added, “is that the market moves faster than the company can reinvent itself.”
NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced the final close of Blackstone Energy Transition Partners V (“BETP V”) at $8.7 billion – more than 50% larger than its predecessor vehicle. The significantly oversubscribed fund reached its hard cap and builds on the strong performance of the strategy’s prior vintages.
Blackstone Energy Transition Partners (“BETP”) seeks to build energy companies at scale that deliver cleaner, more reliable and more affordable energy to meet growing global needs. BETP’s energy transition investments have generated, as of June 30, a 34% net IRR since 1997, reflecting the strength of its differentiated strategy. In 2025, BETP was named IJ Investor’s “Fund Manager of the Year – Equity” for North America, recognizing its leadership in delivering investment performance at scale.
David Foley, Global Head of Blackstone Energy Transition Partners, said: “We believe there is a generational opportunity for experienced investors in the energy transition to provide solutions to the challenges posed by growing demand for electricity. By backing exceptional management teams with flexible, patient equity capital to increase manufacturing capacity, recruit and train skilled labor and construct new critical energy infrastructure assets, BETP is delivering those solutions and in the process building these companies to scale, creating jobs and generating lasting value for our investors. We are deeply grateful for the trust of our investors and look forward to deploying BETP V in investments that advance the transition to a more affordable, reliable and cleaner energy future.”
BETP V began its investment period in June and has already funded three distinct platform companies (Kindle, Fisterra and Viridon) backing proven management teams to develop and operate new power generation and electric transmission lines, and has also made three acquisitions focused on energy efficiency and resiliency, including:
Flow Control Holdings – a rapidly growing, leading U.S. provider of highly engineered flow control solutions and components for data center liquid cooling, a more energy efficient alternative to air cooling Dresser Utility Solutions – the leading North American provider of measurement (meters), control (regulators, pressure relief valves) and infrastructure repair products for gas and water utilities DarkVision – a provider of innovative, technology-enabled asset inspection services that enhance the safety, reliability and productivity of critical energy infrastructure Since January 2025, BETP has committed over $11 billion in new equity investments across the energy transition ecosystem. This includes transactions in critical energy equipment manufacturers (Maclean Power Systems, Delta Star, Power Grid Components, Arlington Industries, Advanced Cooling Technologies), essential services (Alliance Technical Group, Shermco), energy data analytics (Enverus) and highly-efficient natural gas-fired power infrastructure (Hill Top Energy Center, Wolf Summit Energy, and Potomac Energy Center).
In addition, BETP has successfully monetized several of its mature investments in predecessor funds over the same period, including:
Reaching an agreement to sell Aypa Power, a leading North American battery storage platform with a 6.0 GW portfolio of storage assets Selling a majority interest in Sabre Industries, a leading manufacturer of highly-engineered critical infrastructure for power utilities, telecom and data centers Completing the IPO of Legence (NASDAQ: LGN), a premier provider of specialty mechanical contracting and engineering services for mission critical data center, healthcare and high-specification C&I end markets About Blackstone Energy Transition Partners:
Blackstone Energy Transition Partners is Blackstone’s strategy for control-oriented equity investments in energy-related businesses, a leading energy investor with a successful long-term record, having committed over $34 billion of equity globally across a broad range of sectors within the energy industry. The strategy generally excludes investments in the ownership of hydrocarbon reserves and the extraction thereof. (The returns shown above similarly exclude such upstream investments despite the fact that earlier fund vintages were not managed to exclude such investments.) Blackstone Energy Transition Partners’ investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering more reliable, affordable and cleaner energy to meet the needs of the global community. In the process, Blackstone Energy Transition Partners builds stronger, larger scale enterprises, creates jobs and generates lasting value for its investors, employees and all stakeholders. Further information is available at https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/.
About Blackstone:
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
TRON built its reputation moving digital dollars. Justin Sun now wants it to move stocks and Treasuries too.
Speaking at TOKEN2049 Singapore and related events in October 2026, the TRON founder laid out a plan to push the network past its role as a stablecoin pipeline. He said the expansion will go ahead without fresh guidance from Congress.
From USDT rails to tokenized assets
The centerpiece of the plan is tokenized real-world assets, or RWAs. Think of these as digital receipts on a blockchain that represent ownership of something off-chain, like a share of a company or a government bond.
Sun said TRON aims to bring tokenized equities and US Treasuries onto the network. The first step, according to the plan, is a launch of tokenized share offerings in Q4 2026.
The target audience is global, with a particular focus on Asia and emerging markets. These are users who want exposure to the US dollar and US assets but may prefer to get it through on-chain tools rather than a traditional brokerage account.
Sun also put a number on the opportunity. He projected that tokenized stocks could grow into a market exceeding $100 billion within five years.
Why Sun thinks TRON has a head start
The pitch rests on a simple argument: TRON already handles an enormous share of the world’s digital dollars, so adding other dollar-linked assets is a natural extension.
The numbers behind that argument are substantial. As of Q3 2026, USDT on TRON hit a record high of over $92.7 billion, representing more than 50% of the global USDT supply.
Settlement activity tells a similar story. As of September 2026, TRON settled approximately 73% of total stablecoin volume.
On the regulatory front, Sun pointed to existing supportive frameworks from agencies such as the CFTC and SEC as the footing for moving forward. His position is that those agency-level frameworks are enough to proceed, even without new legislation from Congress.
AI agents and post-quantum upgrades
The network is also working on AI agents that can carry out transactions autonomously. These are software programs that can act on a user’s behalf, such as executing payments or trades, without a human clicking every button.
TRON has implemented post-quantum signatures on its Nile testnet. The plan is to roll those post-quantum upgrades out to the TRON mainnet by the end of 2026.
What this means
For users in Asia and emerging markets, the appeal is access. A tokenized share could offer a path to US market exposure that bypasses some of the friction of traditional cross-border investing.
The biggest open question is regulatory. Sun is choosing to lean on existing agency frameworks rather than wait for Congress. Tokenized stocks also sit in a more sensitive category than stablecoins, touching on securities rules, investor protection and questions about who custodies the underlying shares.
Things to watch include whether the Q4 2026 tokenized share launch arrives on schedule, how regulators respond to TRON moving ahead without congressional action, and whether the post-quantum upgrade makes the jump from Nile testnet to mainnet by the end of 2026.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
CME Group plánuje na začátku prvního čtvrtletí roku 2027 po schválení příslušnými regulátory spustit futures na wolfram, vypořádávané podle ceny APT od Fastmarkets.
, /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that it will launch Tungsten futures to meet rising demand for its metals complex, which registered record volume this year. Trading will start by early Q1 2027, pending all relevant regulatory reviews.
With annual production between 85,000 and 95,000 metric tons, the global tungsten market is worth over $20 billion based on current spot prices. It has been identified as a critical mineral by the U.S., the E.U., Japan, India and others. Tungsten has an active spot market but lacks a futures market.
The contract will be financially settled based on the Fastmarkets assessment for tungsten APT (Ammonium Paratungstate) duty unpaid basis CIF Rotterdam and Baltimore.
"Tungsten sits at the intersection of advanced manufacturing, semiconductor technologies and geopolitics, and our clients are increasingly seeking to hedge their exposure and improve price transparency," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "CME Group Tungsten futures will join our growing suite of critical minerals and energy transition metal products, providing clients more opportunities to manage risk as global supply chains restructure."
"This contract is an important new tool to manage the commercial risks involved in the physical trading and logistics of tungsten," said Quentin Lamarche, CEO, TechMet SCM. "As critical mineral supply is at the forefront of every major economy, having transparent forward pricing will support reliable, long-term western supply chains."
"For our manufacturing clients, tungsten is essential to production but has been difficult to budget for without a forward market," said Maarten Gassmann, Managing Director, Grondmet. "This contract fills that gap, allowing them to plan their operations with greater cost certainty."
"Growing volatility and concentrated supply are increasing the need for transparent, trusted price benchmarks in the tungsten market," said Raju Daswani, CEO of Fastmarkets. "The launch of this contract, based on Fastmarkets' tungsten APT assessment, is a significant step in the market's development, connecting physical-market price discovery with new opportunities to manage price risk."
Trading in CME Group's metals business set a new record in the first nine months of 2026, with a total of 1.2 million contracts traded daily across precious and industrial metals activity, up 41% year-on-year.
The new contract will be listed by and subject to the rules of COMEX. For more information, please visit here.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
About Fastmarkets
Fastmarkets is an industry-leading PRA and information provider for the agriculture, forest products, metals, carbon and energy transition markets. Its benchmark prices, analytics, forecasts, and insights are critical to customers seeking to trade, manage risk, and understand complex global markets.
Fastmarkets was founded in 1913, with a heritage dating back to 1865 through several of its acquired brands. Fastmarkets employs more than 700 people worldwide, with offices across Europe, the Americas, and Asia. The company is privately held and backed by Astorg, a leading European private equity firm.
CME Group plánuje do konce roku 2026 po získání regulačních schválení spustit evropské futures a opce na sušené odstředěné mléko, máslo, syrovátku a tekuté mléko.
, /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced plans to launch new European dairy futures and options contracts before the end of 2026, pending all regulatory reviews.
The company will introduce new futures and options contracts for European Skimmed Milk Powder, European Butter, European Whey Powder and European Liquid Milk as a first step toward regional expansion following an agreement with the European Energy Exchange earlier this year.
These products will position CME Group to expand on recent record activity within the Dairy complex, including reaching record monthly open interest of an average 420,922 contracts a day in September, a 42% increase year over year, and an all-time daily open interest record of 461,493 contracts on September 29.
"We've long served the dairy community across the U.S., and now we're bringing that same commitment to Europe," said John Ricci, Global Head of Agricultural Products at CME Group. "By offering futures and options, we're giving participants a more complete toolkit to deploy capital efficiently and manage regional price risk - all on a single platform alongside our U.S. complex."
The new contracts will be financially settled and will initially track EEX indices before transitioning to CME Group indices. They will be listed on and subject to the rules of CME.
CME Group and EEX are also working to transition the EEX Weekly European Cheese Indices and the Pan European Butter Index to CME Group for continued benefit to the industry.
For more information on CME Group's dairy products, please visit here.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
BNB Chain otevřel komunitní fórum pro NewL1, novou síť 1. vrstvy kompatibilní s EVM. BNB bude jejím jediným tokenem pro poplatky; spuštění testnetu je plánováno na konec roku 2026.
BNB Chain wants your opinion on its next blockchain. The project has opened a dedicated community forum category for NewL1, a new Layer 1 network built for workloads that stretch beyond what BNB Smart Chain (BSC) can handle today.
The forum category first went live in July 2026. BNB Chain promoted it again on October 17 and 19, 2026, which means the conversation is heating up ahead of a planned testnet.
What NewL1 is supposed to do
NewL1 is a Layer 1, meaning it is a base blockchain with its own consensus and settlement. It is not a scaling add-on that sits on top of another chain.
It is also EVM-compatible. The Ethereum Virtual Machine is the software environment most smart contracts are written for. Compatibility means developers can bring existing code and tools over without starting from scratch.
The chain is aimed at three use cases: trading, payments and AI. The research specifically points to agentic AI trading, where software agents execute trades on their own rather than waiting for a human to click a button.
The performance targets are ambitious. BNB Chain is aiming for:
Sub-50 millisecond preconfirmations. A preconfirmation is an early signal that a transaction will be included, delivered before the block is fully settled.
More than 100,000 transactions per second. Throughput of that scale would let the network absorb heavy bursts of activity, the kind high-frequency trading and automated agents tend to generate.
Sub-second finality. Finality is the point at which a transaction can no longer be reversed.
No new token, and a feature aimed at front-runners
NewL1 does not plan to have a new token. The existing BNB token will serve as the sole gas token. Gas is the fee users pay to get transactions processed. So every transaction on NewL1 would be paid for in BNB.
The other headline feature is TxStream, a structure designed to reduce front-running risk. Front-running happens when someone sees your pending trade and jumps ahead of it to profit from the price move you were about to cause.
NewL1 is also slated to include privacy enhancements, which could further reduce how much information pending transactions leak to opportunistic actors.
A native bridge is planned to connect BSC and NewL1. That gives users and assets a built-in route between the two chains rather than relying on third-party bridging services.
The forum ground rules
The forum covers technical design questions, including tokenomics, consensus protocols and privacy features.
Tokenomics is an interesting item on the agenda for a chain that is not launching a token. The open question is how BNB itself will function in the new environment, which is a design problem even without a fresh asset.
BNB Chain has set ground rules to keep the discussion focused on technical development. Speculative price talk is off the table.
The timeline is relatively tight. A testnet is projected for late 2026, with mainnet expected in early 2027.
How BNB Chain got here
BNB Chain has grown into a multi-chain ecosystem anchored by BSC, known for low fees and a large amount of DeFi activity.
In 2023, the project launched opBNB, a Layer 2 scaling solution that sits on top of the main chain to handle extra transaction volume. NewL1 continues that expansion, but instead of scaling BSC, it builds a separate base layer tuned for specific tasks.
What this means
For BNB holders, the most concrete takeaway is the gas token decision. If NewL1 attracts trading, payments and AI activity, that usage would run on BNB rather than a competing asset.
The things to watch are the testnet launch in late 2026, early performance data against the sub-50 millisecond and sub-second finality goals, and how much of the forum feedback actually shows up in the final design.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
