$BLSH

5 stories mentioning BLSHUpdated 38d ago

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Equity Futures Rise as Trump, Xi Kick Off High-Stakes Meeting

US equity markets were tracking in the green before the opening bell Thursday as President Donald Trump held talks with his Chinese counterpart, Xi Jinping, at a high-stakes meeting in Beijing.The S&P 500 and the Nasdaq rose 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.6%. The S&P 500 and Nasdaq reached fresh peaks at Wednesday's close, while the Dow finished lower.Trump and Xi have agreed to develop a "constructive China-US relationship of strategic stability," according to a readout of the summit by the Chinese foreign ministry. "This will provide strategic guidance for China-US relations over the next three years and beyond," the readout showed.The relationship between the two countries is going to be "better than ever before," Trump told Xi in his opening remarks, CNBC reported, citing official broadcast footage.The leaders of the two global economic heavyweights agreed that the crucial Strait of Hormuz should remain open to support global energy flows, multiple news outlets reported. During their talks, Xi showed interest in buying more US oil to reduce China's dependence on the Strait of Hormuz and other Middle East shipping routes, according to news reports.West Texas Intermediate crude oil was down 0.2% at $100.80 a barrel before the open, while Brent was slightly in the red at $105.61.On Wednesday, the International Energy Agency forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices. Separately, the Organization of the Petroleum Exporting Countries reduced its global oil demand growth outlook for 2026, but upgraded its projection for next year.Also on Wednesday, official data showed that US producer prices rose at the fastest pace in four years in April as broad-based increases in services and goods signaled intensifying inflation pressures.Treasury yields were down in premarket action, with the two-year rate retreating 2.1 basis points to 3.97% and the 10-year rate off 2.2 basis point to 4.46%.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the retail sales and import and export prices reports, both for April.Federal Reserve Governor Michael Barr is scheduled to speak at 7 pm. Kansas City Fed President Jeffrey Schmid, Cleveland Fed President Beth Hammack, and New York Fed President John Williams all speak earlier in the day.On Wednesday, Boston Fed President Susan Collins said she expected the central bank to maintain its current monetary policy stance, describing it as "slightly restrictive."The US Senate confirmed Kevin Warsh's nomination as Fed chair Wednesday. Warsh is Trump's pick for the job, with the term of current central bank chief Jerome Powell set to expire on Friday.Cisco Systems (CSCO) shares jumped 17% pre-bell Thursday. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involves thousands of layoffs.Marvell Technology (MRVL) added 3.8% pre-bell after closing the previous session with an 8.2% gain.Nvidia (NVDA) was 1.8% higher in premarket activity after Reuters reported that the US has cleared around 10 Chinese firms to buy the technology giant's H200 artificial intelligence chip. However, not a single delivery has been made so far, according to the report.Applied Materials (AMAT) is scheduled to release its latest quarterly financial results after the markets close. Viking (VIK), Klarna (KLAR), Bullish (BLSH) and Yeti (YETI) report before the bell, among others.Gold edged down 0.1% to $4,703 per troy ounce, while bitcoin nudged up 0.1% to $79,599.

Dow JonesNasdaq CompositeS&P 500$AMAT$BLSH$CSCO$KLAR$MRVL$NVDA$VIK$YETI

Sectors47d ago

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks advanced in late Tuesday afternoon trading with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.2%.The Philadelphia Housing Index gained 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.3%.Bitcoin (BTC-USD) rose 2.1% to $81,532, and the yield for 10-year US Treasuries shed 3 basis points to 4.416%.In economic news, two surveys painted a mixed picture of the US services sector in April, with Institute for Supply Management data showing a deceleration in growth and an S&P Global (SPGI) report indicating a return to expansion.The US trade deficit grew in March as imports outpaced record-high exports, government data showed. The goods and services deficit widened 4.4% sequentially to $60.31 billion on a seasonally adjusted basis. The consensus was for a deficit of $61 billion in a Bloomberg survey.In sector news, the US Securities and Exchange Commission proposed rule and form amendments that would permit public companies to file semiannual reports in lieu of quarterly reports.In corporate news, Citigroup (C) plans to introduce new medium-term profitability targets at its investor day on Thursday, Reuters reported, citing an interview with CEO Jane Fraser. Citi shares rose 2.1%.PayPal (PYPL) plans to target at least $1.5 billion in cost cuts over the next few years, while the company maintained its full-year earnings outlook. The shares slumped 8%.Coinbase (COIN) is reducing its global workforce by 14%, citing the need to cut costs amid market volatility and the ways AI has optimized its operations. The shares fell 2.8%.Bullish (BLSH) shares jumped 11%. The company agreed to acquire transfer agent Equiniti for $4.2 billion in stock from private-equity firm Siris.

$BLSH$C$COIN$PYPL

Sectors47d ago

Sector Update: Financial Stocks Mixed Tuesday Afternoon

Financial stocks were mixed in Tuesday afternoon trading with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.2%.The Philadelphia Housing Index gained 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.1%.Bitcoin (BTC-USD) rose 1.7% to $81,234, and the yield for 10-year US Treasuries shed 3.2 basis points to 4.41%.In sector news, the US Securities and Exchange Commission on Tuesday said it proposed rule and form amendments that would permit public companies to file semiannual reports in lieu of quarterly reports to meet their reporting obligations.Amazon-backed (AMZN) Anthropic said it introduced 10 new artificial intelligence agents to support banks, asset managers, and insurers in executing the most time-consuming processes in financial services. These AI agents can draft pitch decks for client meetings, review financial statements, evaluate KYC files, and help with accounting, the company said.In corporate news, PayPal (PYPL) plans to target at least $1.5 billion in cost cuts over the next few years, while the company maintained its full-year earnings outlook. The shares slumped 9.5%.Coinbase (COIN) is reducing its global workforce by 14%, citing the need to cut costs amid market volatility and how AI has optimized its operations. Its shares fell 3.7%.Bullish (BLSH) shares jumped past 11%. The company on Tuesday agreed to acquire transfer agent Equiniti from private equity firm Siris in an all-stock deal worth about $4.2 billion.

$BLSH$COIN$PYPL

US Markets48d ago

Bullish to Acquire Equiniti From Siris in $4.2 Billion Deal

Bullish (BLSH) on Tuesday agreed to acquire transfer agent Equiniti from private equity firm Siris in an all-stock deal worth about $4.2 billion as the digital asset platform aims to build infrastructure for tokenized securities.The transaction comprises $1.85 billion of Equiniti's debt and about $2.35 billion in Bullish shares, priced at $38.48 apiece, the crypto exchange said in a statement. Bullish shares gained 1.9% in the most recent premarket activity.The deal is expected to combine Bullish's blockchain infrastructure with Equiniti's transfer agency services to create a global transfer agent platform to support tokenized securities."Tokenization is a once-in-a-generation shift in how capital markets operate," Bullish Chief Executive Tom Farley said. "Broad adoption at institutional scale requires three things: end-to-end tokenization services, a single, unified ledger and a broad base of blue-chip issuer relationships, at scale.""This combination delivers all three and I believe it uniquely positions us to lead the transition to tokenized securities," Farley added.The transaction, which requires approval from regulators, is expected to complete in January. Following completion, Equiniti will operate under the Bullish umbrella alongside Bullish Exchange and CoinDesk.On a pro-forma basis, the combined company is expected to generate roughly $1.3 billion in adjusted revenue and more than $500 million in earnings before interest, taxes, depreciation and amortization less capital expenditure in 2026. Bullish estimates the deal to grow revenue annually by 6% to 8% from 2027 through 2029, including 20% revenue gains from tokenization and blockchain services.The deal "strengthens our ability to support clients as markets evolve, while maintaining the stability, service, and trust they expect from Equiniti," Equiniti CEO Dan Kramer said. Kramer will continue to be responsible for the firm's daily operations and client relationships.Siris, which first purchased Equiniti in 2021, will receive two board seats as part of the transaction. The firm will also have a call option to acquire non-core Equiniti business lines.

$BLSH

Wire48d ago

Bullish to Buy Equiniti for $4.2 Billion in All-Stock Transaction

Bullish (BLSH) has agreed to acquire Equinti for $4.2 billion, combining transfer agency services with blockchain infrastructure to support tokenized securities, the company said.The deal includes about $1.85 billion in assumed debt and roughly $2.35 billion in Bullish stock and is expected to close in January 2027.The combined company is expected to generate about $1.3 billion in adjusted revenue and more than $500 million in earnings before interest, taxes, depreciation and amortization less capex in 2026, with revenue projected to grow 6% to 8% annually through 2029.Shares of Bullish fell more than 7% in Tuesday's premarket activity.Price: $37.56, Change: $-3.14, Percent Change: -7.71%

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