Stock indexes mixed as technology stocks rebound; Dow Jones declines for the second day in a row; Bitcoin falls to its lowest levels since May

Why StubHub Stock Dropped 25% After Its First Quarterly Report Post-IPO

1 hour and 24 minutes ago

Shares of ticket reseller StubHub (STUB) fell on Friday after the company declined to provide guidance for the current quarter with its first earnings report as a public company.

The stock is down nearly 25% around $14 in recent trading, after hitting its lowest levels since the company first began trading in September.

CFO Connie James told investors during an earnings call Thursday that the company plans to issue a forecast for 2026 when it reports fourth-quarter results in about three months.

StubHub said it had a net loss of $1.3 billion in the third quarter, but said it took on about $1.4 billion to grant stock to its employees when it went public this quarter. StubHub had revenue of $468 million, up 8% from this time last year, when StubHub was still a private company.

StubHub’s gross merchandise sales, or the total value of tickets purchased by consumers through its platform, were $2.4 billion in the quarter. This represents an 11% increase year over year, or a 24% increase excluding the impact of tickets sold in the same quarter last year for Taylor Swift’s record-breaking “Eras Tour.”

JPMorgan analysts, who trimmed their price target to $22 from $24, noted that StubHub’s decision to withhold its guidance could signal weakness in the current quarter. However, analysts said they remain optimistic about the stock, considering the sales growth and market share gains shown by third-quarter results.

–Aaron McDade

Say Goodbye to the Penny: Why micro change may soon disappear

2 hours and 4 minutes ago

The US penny, beloved by coin pirates for 232 years, has officially reached the end of its production. On Wednesday, the U.S. Mint hosted a celebratory strike event at its Philadelphia facility for the last one-cent coin designated for circulation in the United States.

The decision to stop production is driven by the economy and changing consumer behaviour. In 2024, the cost of minting each new penny will be about 3.69 cents, more than double the cost a decade ago. In addition, fewer Americans are using cash for everyday purchases, reducing the need for lower-denomination coins even as long-term inflation causes their value to decline significantly.

The end of small coin production has created a supply crunch, and cash-rich companies are scrambling to adapt. Many fast food restaurants and retailers try to hoard pennies or switch to automatic rounding of cash transactions to the nearest 5 cents because they simply can’t make exact change.

The approximation mechanisms follow what some economists call “symmetric approximation.” If the total ends in 1, 2, 6, or 7 cents, it will be rounded to the nearest nickel, and any transaction that ends in 3, 4, 8, or 9 will be rounded up. While it may seem that everything may eventually work out, companies may try to price items so that the coefficients are more skewed until they are rounded.

Read the full article here.

–Jenna Young

The United States intends to reduce customs duties on Switzerland

2 hours and 16 minutes ago

The steep tariffs imposed by the United States on Swiss imports will be reduced sharply.

In a post by

In July, President Donald Trump announced a 39% tax on Swiss goods.

US Trade Representative Jamison Greer said CNBC That Switzerland would “send much of its industries here to the United States – medicines, gold smelting, railway equipment.”

Under Armor parts ways with Curry brand as restructuring expands

3 hours and 45 minutes ago

Under Armour’s long partnership with NBA player Stephen Curry is coming to an end.

After the bell on Thursday, the Baltimore-based sneaker company said it “plans to separate the Curry Brand from Under Armour,” though it “will release the Curry 13 — the definitive Curry Brand x Under Armor shoe — in February 2026 as planned, with additional colorways and apparel available through October 2026.”

Under Armor (UAA; UA) said it now expects to incur up to $255 million in pre-tax charges related to its 2025 financial restructuring plan, up from the previous $160 million. “Concerning the separation of the Curry brand, the company does not anticipate a significant impact on its consolidated financial results or profitability,” it said.

“This move allows two strong teams to do what they do best,” said Kevin Plank, founder and CEO of Under Armour. “Under Armor is focused on product innovation and performance for athletes at every level. Curry Brand has the independence to define its future. That’s good for Stephen and good for UA.”

Under Armor shares were down nearly 2% less than an hour before the bell. They have lost about 40% of their value this year.

Walmart CEO Doug McMillon Retires; The retail giant appoints Walmart US CEO John Furner as his successor

4 hours and 5 minutes ago

Walmart (WMT) will soon have a new CEO.

The retail giant announced on Friday that CEO Doug McMillon will retire on January 31, 2026, and will be succeeded the following day by Walmart US CEO John Furner, who will join the company’s board of directors, effective immediately.

McMillon, 59, has served as Walmart’s CEO for more than a decade. Forner, 51, has been in his current position since 2019 and “began his career at Walmart as an hourly associate in 1993,” the company said.

McMillon will remain on the board through June, advising Furner through fiscal year 2027. Walmart “plans to make an announcement on Furner’s successor as CEO of Walmart US before the end of fiscal year 2026,” it said.

Walmart shares fell nearly 3% about an hour before the bell.

Bitcoin stocks and cryptocurrency-related stocks decline further

4 hours and 44 minutes ago

Bitcoin price continues to fall. It is dragging many cryptocurrency-related stocks with it.

With Bitcoin falling to around $95,000 — its lowest level since early May — cryptocurrency-related stock strategy (MSTR), Robinhood Markets (HOOD), Coinbase Global (COIN), and MARA Holdings (MARA) all signaled a sharp decline after all fell yesterday.

Shares of Strategy were down nearly 7% in premarket trading, while shares of Robinhood, Coinbase, and MARA were down more than 5%.

Yesterday, Robinhood was the worst performer on the S&P 500, with its shares down 8.6%, while Strategy stock fell more than 7% to lead the losing stocks on the Nasdaq. MARA and Coinbase fell 11% and 7%, respectively.

Stock futures decline as technology sell-off continues

5 hours and 23 minutes ago

Futures contracts linked to the Dow Jones Industrial Average fell 0.5%.

Standard & Poor’s 500 futures fell 0.7%.

Nasdaq 100 contracts fell by 1.2%.