Group 1 - The Pragmatic Investor focuses on global macro, international equities, commodities, tech, and cryptocurrencies, aiming to guide investors of all levels [1] - The platform offers features such as a portfolio, weekly market updates, actionable trades, technical analysis, and a chat room for investor engagement [1] - James Foord, an economist with a decade of experience in global market analysis, leads The Pragmatic Investor, emphasizing the creation of diversified portfolios to preserve and increase wealth [1]

Companies Mentioned - Coinbase's convertible notes are discussed [1] - Block's Bitcoin strategy is analyzed [1] Industry Focus - The report covers public keys related to Coinbase, Core Combo Fight, and Block's Bitcoin initiatives [1]

Core Insights - ExxonMobil Guyana has commenced production at the Yellowtail development in the Stabroek block, increasing total installed capacity in Guyana to over 900,000 barrels per day [1][4] - The ONE GUYANA FPSO will average 250,000 barrels of oil per day and has a storage capacity of two million barrels [2] - By 2030, ExxonMobil aims to achieve 1.7 million oil-equivalent barrels per day from eight deepwater projects, leveraging successful offshore mega-projects completed ahead of schedule and under budget [4] Company Operations - The ONE GUYANA FPSO is the largest on the Stabroek block and is part of a fleet that includes Destiny, Unity, and Prosperity FPSOs [1][2] - Over 67% of the workforce involved in the Yellowtail project is Guyanese, with more than 2,000 local businesses participating [3] - ExxonMobil holds a 45% stake in the Stabroek block, with partners Hess Guyana Exploration Ltd. at 30% and CNOOC Petroleum Guyana Limited at 25% [4] Market Performance - XOM stock has experienced a decline of over 9% in the past year, but shares were trading higher by 1.30% to $107.43 recently [5]

Core Insights - Toast stock (NYSE: TOST) is considered a more attractive investment compared to Block stock (NYSE: XYZ) due to its stronger growth, profitability, and financial standing [2][7]. Growth Potential - Toast has demonstrated an impressive average revenue growth of 39% over the past three years, significantly outpacing Block's 13% [7]. - The company generated $1.9 billion in Annual Recurring Revenue (ARR) and achieved a 35% year-over-year increase in recurring gross profit in the most recent quarter [4]. - Toast is projected to scale up to 200,000 locations by 2026, with an anticipated average revenue per user increase from the rollout of 'Toast Now AI' [6]. Profitability and Financial Health - Toast's operating cash flow margin stands at 9%, which is higher than Block's 5.6% [7]. - The company's debt-to-equity ratio is under 1%, compared to Block's 12.6%, indicating a healthier balance sheet [7]. - Cash constitutes 58% of Toast's assets, while it only represents 35% of Block's assets [7]. Market Position and Competitive Edge - Toast differentiates itself with AI-driven solutions like ToastIQ and Toast Now AI, leveraging unique restaurant data to provide valuable insights [5]. - The combination of advanced AI and a comprehensive restaurant management platform positions Toast as a leader in the restaurant technology AI sector [5]. Risks and Challenges - Toast's stock has experienced significant volatility, suffering an 80% drop during the inflation shock of 2022, indicating susceptibility to market fluctuations [3]. - The company faces strong competition from established point-of-sale players and new entrants like DoorDash, which could threaten its market position [9]. - Toast's reliance on the restaurant sector makes it vulnerable to economic downturns, as restaurant revenues typically decline during such periods [9][11].

JUST IN: $47 BILLION Block CFO tells CNBC Bitcoin can be the open protocol that "powers the internet." ⚡️ https://t.co/F5GoMEu2XR ...

JUST IN: 🇺🇸 $47 billion Block Inc. CFO says on CNBC, “#Bitcoin can be the open protocol that powers the internet.” https://t.co/4iucX8MjDR ...

JUST IN: Jack Dorsey's Block bought $12.6 million Bitcoin in Q2.They now hold 8,692 Bitcoin worth more than $1 BILLION. 🔥 https://t.co/tXq4N0LtiW ...

🚨JUST IN: @JACK DORSEY’S BLOCK INCREASES $BTC HELD BY 108 $BTC IN Q2, BRINGING TOTAL TO 8,692 $BTC WORTH AROUND $1B ~ COINTELEGRAPH ...

摩根大通：将Block目标价从90美元上调至100美元。 ...

Core Insights - Block reported strong growth in profitability for Q2 2025, with net income and gross profit increasing year-over-year, despite missing consensus revenue and adjusted earnings expectations [1][5][11] Financial Performance - Adjusted EPS (non-GAAP) was $0.62, slightly below the estimate of $0.63, and up 31.9% from $0.47 in Q2 2024 [2] - GAAP revenue was $6.05 billion, missing the estimate of $6.30 billion, and down 1.8% from $6.16 billion in Q2 2024 [2] - Gross profit reached $2.54 billion, a 13.9% increase year-over-year [2] - Net income (GAAP) was $538 million, more than doubling from $195 million in Q2 2024, reflecting a 175.9% increase [2] Business Segments - Square's gross profit grew 11% year-over-year to $1.03 billion, with international gross payment volume up 25%, now representing 19% of all Square payments [6] - Cash App generated gross profit of $1.50 billion, up 16% year-over-year, but user growth stagnated at 57 million monthly actives [7] Strategic Focus - Block is emphasizing the integration of its business and consumer ecosystems to enhance cross-selling and customer engagement [4] - New product rollouts include Cash App Borrow loans and the Pools group payment feature, with a focus on targeting younger users [4][7] Profitability and Cost Management - Adjusted operating income rose nearly 38% to $550 million, yielding a 22% adjusted operating income margin on gross profit [8] - Operating leverage was partly achieved through software and cloud cost reductions, while sales and marketing expenses increased to support new product launches [8] Future Outlook - For FY2025, Block raised its guidance, expecting gross profit of $10.17 billion and adjusted operating income of $2.03 billion [11] - Growth levers identified include expansion of Cash App's lending, deeper integration of buy-now-pay-later, and international growth for Square [12]