Core Points - B. Riley Financial, Inc. received a notification from Nasdaq regarding non-compliance due to delayed filings of its Annual Report on Form 10-K for the period ended December 31, 2024, and Quarterly Report on Form 10-Q for the period ended March 31, 2025 [1] - The company expects to return to a normal filing cadence by Fall 2025 [3] - Nasdaq has granted an exception allowing the company to regain compliance with the filing requirements by September 29, 2025 [2] Company Overview - B. Riley Financial is a diversified financial services company that provides tailored solutions to meet the strategic, operational, and capital needs of its clients [4] - The company offers a wide range of services including investment banking, institutional brokerage, private wealth management, financial consulting, corporate restructuring, and more [4] - B. Riley also engages in opportunistic investments to benefit its shareholders and has affiliates that originate and underwrite senior secured loans for asset-rich companies [4]

Core Insights - Kyivstar Group reported strong financial results for Q1 2025, with total operating revenue reaching USD 255 million, a 37.1% increase year-on-year in USD and 49.6% in local currency terms [2][6][7] - The company achieved a profit of USD 44 million for the period, reflecting a 22.2% year-on-year increase in USD and 33.7% in local currency terms, resulting in a profit margin of 17.3% [2][6][7] - Adjusted EBITDA for Q1 2025 was USD 140 million, up 50.5% year-on-year in USD and 64.6% in local currency terms, with an adjusted EBITDA margin of 54.9% [2][6][7] Financial Performance - Total operating revenue for Q1 2025 was USD 255 million, up 37.1% year-on-year in USD and 49.6% in local currency terms [2][6][7] - Profit for the period amounted to USD 44 million, a 22.2% increase year-on-year in USD and 33.7% in local currency terms [2][6][7] - Adjusted EBITDA reached USD 140 million, reflecting a 50.5% year-on-year increase in USD and 64.6% in local currency terms [2][6][7] Strategic Developments - The company completed the acquisition of Uklon, a leading ride-hailing business in Ukraine, for approximately USD 155.2 million [6][14] - Kyivstar Group increased its stake in Helsi, Ukraine's largest digital health platform, from 69.99% to 97.99% [6][14] - The company is progressing towards a listing on the Nasdaq Stock Market, following a business combination agreement with Cohen Circle Acquisition Corp. [5][9] Customer Growth - The Multiplay customer base grew by 40.7% year-on-year to 6.1 million customers, representing 29.5% of one-month-active mobile customers [7] - Total digital monthly active users across Kyivstar Group's digital applications reached 10.3 million in Q1 2025, up 32.9% from 7.7 million a year earlier [7]

Summary of Nasdaq (NDAQ) Conference Call - June 05, 2025 Company Overview - **Company**: Nasdaq, Inc. - **Industry**: Global exchange operator and financial technology company Key Points Economic Environment and IPO Market - The U.S. economy shows strength and resilience, which supports capital deployment by companies and investors [5][6] - The IPO pipeline is expected to open up as volatility moderates, with companies preparing to enter public markets [5][6] - There is pent-up supply from companies ready to go public, indicating optimism for increased IPO activity in the summer and second half of the year [6] Sector Engagement - High engagement is noted in sectors related to AI technology and financial services, particularly fintech [7] - Companies in the digital economy are more attractive to investors compared to those affected by tariff uncertainties [8] Sales Cycle and Demand for Financial Technology - Demand for Nasdaq's financial technology solutions remains strong, with normalized conversations following tariff volatility [10] - The company is well-positioned competitively, with a healthy demand orientation for its products [10] One Nasdaq Strategy - Progress is being made towards the goal of $100 million in cross-selling opportunities by 2027, with 15% of the fintech pipeline currently in cross-sells [11][12] - The strategy involves aligning teams, tracking client data, and engaging clients holistically [11] Product Demand and Market Modernization - Strong demand across all product vectors, including surveillance and market modernization solutions [15] - New regulations and the need for modernization in risk management are driving demand for Nasdaq's products [15][16] Crypto and Tokenization Opportunities - Nasdaq is actively providing trading and clearing technology for crypto markets, with growth potential as cryptocurrencies become more bankable [19] - The company aims to leverage its technology to reduce friction in the financial system through tokenization [20] Index Business Performance - The index business has shown strong revenue growth, with a focus on transparency and alpha generation [22] - New product launches and global expansion are key growth drivers [24] 24/5 Trading Initiative - Nasdaq is exploring the implementation of 24/5 trading to meet global retail demand, while ensuring investor protections are in place [26][27] - The company is working on building the necessary infrastructure and regulatory approvals for this initiative [29][30] Texas as a Capital Markets Hub - Texas is emerging as a significant capital markets hub, with Nasdaq planning to establish a regional headquarters in Dallas [32][34] - The pro-business environment and the state's efforts to create a capital markets hub present growth opportunities for Nasdaq [34][36] M&A Strategy - Nasdaq is focused on organic growth and deleveraging, with no immediate plans for large-scale M&A [40][41] - The company is open to small bolt-on acquisitions but prioritizes optimizing organic growth [41] Artificial Intelligence Integration - Nasdaq is implementing AI in product development and business operations, with a focus on enhancing efficiency and client service [42][43] - The company anticipates that AI will support margin expansion over time [48] Future Trends in the Exchange Business - Major trends identified include AI, tokenization, and the potential for 24/5 trading, with Nasdaq committed to being an innovator in these areas [50][51] Additional Insights - Nasdaq's engagement with clients in Texas and the broader regulatory environment is crucial for future growth [36] - The company is actively working on corporate reforms to improve the public company experience in the U.S. [36]

Core Insights - The Nasdaq Composite Index has turned positive for the first time since February 21, driven by robust earnings, renewed AI optimism, and easing trade tensions [1] - Investor confidence has increased regarding President Trump's trade policies, alleviating recession fears [1][3] Trade Tensions - Temporary tariff reductions on Chinese goods from 145% to 30% and on U.S. goods from 125% to 10% have been implemented for 90 days [3] - The implementation of a 50% tariff increase on all EU products has been postponed from June 1 to July 9 [3] - Progress in trade negotiations with China, Japan, and the EU remains unclear [4] Technology Sector Performance - The technology sector, particularly semiconductor companies like NVIDIA and Broadcom, has been a key driver of the Nasdaq's rebound [5] - NVIDIA's market capitalization has reached $3.45 trillion, with a nearly 50% increase in stock price since early April, adding over $1 trillion in market cap [6] - Broadcom is nearing record highs, driven by its AI product line and the acquisition of VMware [6] Earnings Overview - First-quarter earnings for 477 S&P 500 members are up 11.4% year-over-year, with revenues increasing by 4.4% [7] - 74.2% of companies beat EPS estimates, and 62.9% exceeded revenue estimates, with the technology sector showing stronger-than-expected performance [7][8] ETFs in Focus - Invesco QQQ (QQQ) has an AUM of $333.9 billion and an average daily volume of 47 million shares, charging 20 bps in annual fees [9] - Invesco NASDAQ 100 ETF (QQQM) has lower annual fees of 15 bps and an AUM of $48.4 billion [10][11] - First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) has an asset base of $1.8 billion and charges 55 bps in annual fees [12] - Invesco NASDAQ Next Gen 100 ETF (QQQJ) holds 109 securities with an AUM of $605 million and charges 15 bps in annual fees [13] - Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has an AUM of $1.1 billion and charges 35 bps in annual fees [14]

Core Insights - Nasdaq has partnered with Nasdaq Private Market to enhance price transparency and valuation insights for private companies, particularly pre-IPO firms and unicorns through the Tape D private company dataset [1][2][4] Group 1: Product Offering - The Tape D API provides real-time private market pricing by integrating primary round data, secondary market transactions, and accounting data, addressing transparency challenges for investors and banks [2][4] - Nasdaq Private Market has executed nearly $60 billion in transactional volume for over 200,000 individual eligible shareholders and investors across more than 775 company-sponsored liquidity programs since its inception [9] Group 2: Market Context - The private market is increasingly critical for valuation and investment, with over 1,200 unicorns and billions in equity held by private shareholders, highlighting the need for reliable valuation benchmarks [4] - Nasdaq aims to replicate the efficiency and transparency achieved in public markets within the private market sector, enhancing the investment lifecycle for all participants [3][5] Group 3: Strategic Goals - The collaboration with Nasdaq Private Market reflects Nasdaq's commitment to creating an ecosystem that promotes transparency, accessibility, and improved outcomes across the investment spectrum [3][5] - Nasdaq's offerings, including Nasdaq Fund Secondaries, are designed to improve efficiency and scalability in secondary transactions, equipping asset owners with essential research and portfolio management tools [5]

Group 1 - Cognizant will present at the Nasdaq Investor Conference in partnership with Jefferies on June 11, 2025 [1] - The presentation will be led by Jatin Dalal, the Chief Financial Officer of Cognizant [1] - A live audio webcast of the presentation will be available on Cognizant's website, with a replay accessible for 90 days [1] Group 2 - Cognizant is a leading provider of information technology, consulting, and business process services [2] - The company focuses on helping clients modernize technology, reimagine processes, and transform experiences [2] - Cognizant aims to improve everyday life through its services [2]

Group 1 - The core point of the article is that Nasdaq's U.S. options trading volume reached 316 million contracts in May, representing a year-over-year increase of 22% [1]

Group 1 - Nasdaq reported its monthly trading volumes for May 2025 on its Investor Relations website [1] - Nasdaq is a leading global technology company that serves various financial market participants, including corporate clients, investment managers, banks, brokers, and exchange operators [2] - The company aims to enhance liquidity, transparency, and integrity in the global economy through its diverse offerings of data, analytics, software, and exchange capabilities [2] Group 2 - Nasdaq provides a range of client-centric services that enable clients to optimize and execute their business vision with confidence [2] - The company has a commitment to delivering world-leading platforms that facilitate interaction with global capital markets [2]

Core Viewpoint - Broadway Financial Corporation has received a notice from Nasdaq indicating non-compliance with listing rules due to the late filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 [1][2]. Group 1: Compliance and Filing Issues - The Company was unable to file the Form 10-Q on time due to the need for additional time to assess the value of a Securities Purchase Option Agreement related to its Series C Preferred Stock issued to the U.S. Treasury [3]. - The Company also requires more time to address fair value measurements disclosure and its independent accounting firm, Crowe LLP, needs additional time to complete review procedures related to the Form 10-Q [3]. - Nasdaq has granted the Company 60 calendar days from May 28, 2025, to submit a plan for regaining compliance, with a potential extension of up to 180 days for filing the Form 10-Q if the plan is accepted [4]. Group 2: Company Overview - Broadway Financial Corporation operates through its wholly-owned subsidiary, City First Bank, which serves low-to-moderate income communities in Southern California and Washington, D.C. [5]. - The Company offers a range of residential and commercial real estate loan products, as well as various deposit products including checking, savings, and retirement accounts [5].

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