Company Performance - Shares of Alphabet Inc. jumped over 9% after a U.S. court issued remedies in the DOJ antitrust case, which were less severe than anticipated [2] - Apple Inc. gained about 4% as the ruling allows Google to continue paying for default search placement on iOS, preserving a significant revenue stream for Apple [2] - Campbell's Co. saw a 7% increase in shares after reporting better-than-expected earnings for the fourth quarter [3] - Macy's Inc. shares surged more than 20% following second-quarter results that exceeded estimates and an increase in FY2025 guidance [3] Economic Indicators - U.S. job openings decreased by 176,000 to 7.18 million in July 2025, below market expectations of 7.4 million [4] - New orders for U.S.-manufactured goods fell by 1.3% month-over-month to $603.6 billion in July, following a 4.8% decline in the previous month [4] Market Sentiment - The CNN Money Fear and Greed index showed a slight decline to 52.0, remaining in the "Neutral" zone [1][7] - Most sectors on the S&P 500 closed negatively, with industrials, energy, and materials stocks experiencing the largest losses, while communication services and information technology stocks closed higher [5] - The Dow Jones closed lower by approximately 25 points, while the S&P 500 rose 0.51% and the Nasdaq Composite climbed 1.02% during the session [5]

就中概股IPO募资的最低要求，纳斯达克表示，美国上市公司会计监督委员会(PCAOB)无法检查相关审计师，故此前设立「限制性市 场」标准，最新要求则是前述标准为基础。纳斯达克认为，设立最低集资要求，可加强投资者保护，并提升公司的流动性状况，以反映 当今的市场环境。 去年，纳斯达克已加强对来自内地和香港的小型IPO的审查。 根据美中经济与安全审查委员会3月的报告，目前在纳斯达克和纽交所上市的中概股逾280家，总市值约1.1万亿美元。 美国纳斯达克Nasdaq，于周三(2025年9月3日)宣布提议修改上市标准，正将拟议规则提交给美国证券交易委员会(SEC)审核，一旦获批将 立即实施。 修订后的标准包括： 纳斯达克在声明中强调，今次调整是该所主动调查交易活动的后续工作，尤其是针对美国跨市场交易环境中潜在「炒高出货」(pump- and-dump)的新兴模式。 拟上市公司如果选择净利润的标准，其上市时公众持股的最低市值为1500万美元(目前为500万美元)； 对存在上市缺陷且上市证券市值低于500万美元的公司，加快其停牌和退市流程； 对主要在中国运营的新上市公司，IPO(公开发行募集资金)最低要求为2500万美元。 ...

纳斯达克当地时间9月3日宣布提议修改上市标准，正将拟议规则提交给美国证监会审核，若获批将立即 实施。 修订后的标准包括： 最低公众持股量市值1500万美元（目前为500万美元），适用于根据净利润标准在纳斯达克上市的新公 司； 对存在上市缺陷且上市证券市值低于500万美元的公司，加快其停牌和退市流程； 对主要在中国运营的新上市公司，公开发行募集资金最低要求为2500万美元。 2022 年 9 月，纳斯达克加强了对小型 IPO 的审查，以帮助确保承销商专注于以预期提供充足流动性的 方式配售股票。 2023 年 7 月，纳斯达克提出了一项新规则，该规则于2024 年 3 月获得批准，对纳斯达克 IPO 的主要承 销商进行了额外的监督。 "投资者保护和市场诚信是纳斯达克使命的核心，"纳斯达克执行副总裁兼全球首席法律、风险与监管官 约翰·泽卡(John Zecca) 表示。"这些改进体现了我们持续致力于根据市场现实改进标准，并以身作则， 促进公平有序的市场。通过提高最低公众持股量和某些新上市公司的公开发行上限标准，它为公众投资 者提供了更健康的流动性状况，同时仍然使投资者能够通过我们的交易所投资新兴公司。这些新的上市 ...

经济观察网 据证券时报网消息，9月3日，纳斯达克证券交易所宣布提议修改上市标准，正将拟议规则 提交给美国证监会审核，若获批将立即实施。其中，规则对主要在中国运营的新上市公司提高了最低募 资要求。 2.对存在上市缺陷且上市证券市值低于500万美元的公司，加快其停牌和退市流程； 3.对主要在中国运营的新上市公司，公开发行募集资金最低要求为2500万美元。 根据纳斯达克发布的文件，修订后的标准有三个，分别为： 1.如果选择净利润上市标准上市的公司，其最低公众持股量市值为1500万美元（目前为500万美元）； ...

Core Viewpoint - Nasdaq is proposing to amend its listing standards, particularly increasing the minimum fundraising requirements for companies primarily operating in China, which aims to enhance investor protection and market integrity [1][4]. Group 1: Proposed Changes to Listing Standards - The revised standards include three main changes: 1. Companies choosing to list based on net profit must have a minimum public float market value of $15 million (up from $5 million) [2]. 2. Companies with listing deficiencies and a market value below $5 million will face expedited delisting processes [2]. 3. New companies primarily operating in China must raise a minimum of $25 million in public offerings [2]. Group 2: Rationale Behind Changes - Nasdaq emphasizes that these changes are part of its mission to protect investors and maintain market integrity, providing healthier liquidity conditions for public investors while still allowing access to emerging company stocks [4]. - The introduction of the $25 million minimum public offering requirement for companies from "restricted markets" is consistent with previous regulations established in 2020 [4]. Group 3: Accelerated Delisting Procedures - Nasdaq has previously implemented rules to accelerate the delisting process for companies, including restrictions on excessive reverse stock splits and immediate delisting for stocks trading below $0.10 for ten consecutive days [5]. - The proposed changes will be submitted to the SEC for review, with a 30-day grace period for companies already in the initial listing process to comply with the old standards before the new requirements take effect [5].

第二项是，对于市值低于500万美元的公司，加快其暂停交易和退市的程序。第三项是专门针对中国公 司，纳斯达克将要求公司通过首次公开发行（IPO）所募集的资金至少达到2500万美元。 来源：格隆汇APP 格隆汇9月4日｜纳斯达克表示，该拟议规则已提交给美国证券交易委员会（SEC）批准，对其现有上市 标准进行三项改变。第一项是提高上市门槛，根据净收入标准，最低公众持股量增加到1500万美元。目 前的门槛是至少500万美元。 ...

NEW YORK, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Today, Nasdaq proposed a new set of enhancements to its initial and continued listing standards, reinforcing its long-standing commitment to capital formation while ensuring investor protection and upholding market integrity. These proposed updates introduce enhanced requirements for minimum company public float and capital raised during initial public offerings, alongside stricter suspension and delisting procedures for companies failing to meet Nasdaq’s continu ...

Group 1 - Nasdaq reported its monthly trading volumes for August 2025 on its Investor Relations website [1] - The company is a leading global technology firm that serves various financial market participants, including corporate clients, investment managers, banks, brokers, and exchange operators [2] - Nasdaq 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 client-centric services that enable clients to optimize and execute their business strategies with confidence [2] - For further information about Nasdaq's technology solutions and career opportunities, the company encourages visits to its LinkedIn page, X account, or official website [2] - Media and investor relations contacts are provided for further inquiries [3]

Core Insights - Nasdaq Verafin and BioCatch have formed a strategic partnership to enhance fraud detection capabilities in the financial services industry, addressing the growing challenge of payments fraud globally [1][4][6] - The partnership aims to integrate BioCatch's behavioral intelligence with Nasdaq Verafin's fraud detection platform, allowing financial institutions to take pre-emptive actions against fraudulent transactions [3][5] Industry Context - Financial crime, particularly payments fraud, is a multitrillion-dollar issue, with payments fraud and scams contributing to an estimated $486 billion in global fraud losses in 2023 [2] - The rise of faster and real-time payments has increased the risk of fraud, while traditional fraud detection methods are leading to a surge in false positive alerts, complicating investigations for banks [2][6] Partnership Details - The initial phase of the partnership will focus on integrating BioCatch alerts into the Nasdaq Verafin platform, enabling real-time decision-making and risk evaluation [3][5] - The collaboration will also involve additional product integrations, co-developed fraud solutions, and joint research initiatives [3][4] Technological Capabilities - BioCatch's platform analyzes up to 3,000 unique behavioral and device-related data points to differentiate between legitimate users and fraudsters [5][9] - Nasdaq Verafin's consortium data network is utilized by over 2,600 financial institutions, representing more than $10 trillion in collective assets, providing insights into fraud risk beyond individual institutions [4][8] Future Initiatives - The companies plan to host a series of webinars to provide further information about the partnership, with the first webinar scheduled for October 23, 2025 [7]

Company Performance - Alibaba Group Holding BABA shares increased by approximately 10% following the release of its fiscal first-quarter results, with quarterly revenue reported at $34.57 billion, a 2% year-over-year increase, surpassing the consensus estimate of $34.26 billion [2] - On a like-for-like basis, excluding revenue from divested businesses, Alibaba's revenue would have grown by 10% year-over-year [2] - Adjusted earnings per American Depositary Share (ADS) were reported at $2.06, which fell short of the analyst consensus of $2.13 [3] Market Movements - Movano Inc. MOVE shares surged by 81% to $1.12 after receiving a Nasdaq extension for compliance [9] - Professional Diversity Network, Inc. IPDN shares rose by 92% to $3.71 following the announcement of a non-binding Memorandum of Understanding with OOKC Group [9] - Ambarella, Inc. AMBA shares increased by 19% to $84.38 after reporting better-than-expected second-quarter results and guiding third-quarter sales above estimates [9] - Marvell Technology Inc MRVL shares dropped by 16% to $64.88 after issuing third-quarter sales guidance below estimates [9] - Connexa Sports Technologies Inc. YYAI shares fell by 57% to $1.63 after announcing an agreement to establish a digital asset platform [9] - Mesoblast Ltd MESO shares decreased by 13% to $13.85 after reporting worse-than-expected FY EPS results [9] Economic Indicators - The U.S. trade deficit in goods increased by $18.7 billion to $103.6 billion in July, exceeding market estimates of $89.5 billion [13] - U.S. wholesale inventories rose by 0.2% month-over-month to $908.4 billion in July [13] - U.S. personal income increased by 0.4% month-over-month to $25.905 trillion in July, while personal spending rose by 0.5% to $20.802 trillion [13]