Well, all four major averages back in the red after yesterday's bounce. Tech once again the lagard as some recent highf flyers return to earth. Should investors view any pullback as a buying opportunity.Far Miller and Washington President CEO Michael Farre joins us. Michael, good to see you. Um, some of the highest valuation stocks in the market are also the biggest in tech.And so even beneath the index level, I wonder is there anywhere to hide. Won't the whole market get dragged down if there's a sentiment ...

DraftKings reported revenue and user numbers that missed analysts’ projections at the start of the NFL season and lowered its guidance for the year https://t.co/fiy22vxb7E ...

Sports betting giants FanDuel and DraftKings are changing their playbooks, racing to catch up to the prediction markets disrupting the industry. Are they already too late?Read more: https://t.co/NDQV2MmpxW ...

Core Insights - DraftKings reported a revenue of $1,144 million for Q3 2025, marking a 4% increase from $1,095 million in Q3 2024, driven by strong customer engagement and higher Sportsbook hold percentage [2][3] - The company anticipates a fiscal year 2025 revenue guidance of $5.9 billion to $6.1 billion, reflecting a year-over-year growth of 24% to 28% [7][5] - DraftKings plans to launch its new product, DraftKings Predictions, which is expected to provide significant incremental opportunities [3] Financial Performance - Revenue for Q3 2025 was $1,144 million, up $49 million from the previous year, with Sportsbook Handle increasing by 17% year-over-year in October [2][19] - Monthly Unique Payers (MUPs) rose by approximately 2% to 3.6 million in Q3 2025, with Average Revenue per MUP (ARPMUP) increasing to $106, a 3% rise compared to Q3 2024 [7][19] - Adjusted EBITDA for Q3 2025 was reported at $(126,488) thousand, compared to $(58,504) thousand in Q3 2024 [29] Strategic Developments - The company is live with mobile sports betting in 25 states and Washington, D.C., covering about 49% of the U.S. population, and plans to launch in Missouri pending regulatory approvals [6][12] - DraftKings has increased its share repurchase program from $1 billion to $2 billion, indicating a focus on maximizing shareholder returns [3][5] - The company is also expanding its iGaming footprint, currently operational in five states, representing approximately 11% of the U.S. population [12][6] Operational Metrics - Sportsbook Handle for Q3 2025 was $11.4 billion, a 10% increase from $10.4 billion in Q3 2024, while Sportsbook revenue decreased by 9.3% to $596 million [19][15] - iGaming revenue increased by 24.9% to $451 million, reflecting strong growth in this segment [19][15] - The total assets of DraftKings as of September 30, 2025, were $4.62 billion, up from $4.28 billion at the end of 2024 [11][10]

Core Insights - ESPN has terminated its partnership with PENN Entertainment and has signed a new deal with DraftKings, making it the exclusive Official Sportsbook and Odds Provider of ESPN [1][7] - This shift highlights the competitive landscape of the U.S. sports betting market, particularly in light of recent scandals involving the NBA [3][5] Company Developments - The previous deal with PENN was valued at $1.5 billion over 10 years, with termination rights based on market share performance [4] - DraftKings' shares increased by nearly 1% following the announcement, while PENN's shares fell by over 6% [2][7] Market Context - The transition from PENN to DraftKings reflects the intense competition in the sports betting sector, especially as ESPN's betting platform struggled to compete with established players like DraftKings and FanDuel [3][4] - The change comes amid increased scrutiny of sports gambling practices, particularly following recent arrests related to NBA betting scandals [5][8]

Group 1 - Disney (DIS) and Penn Entertainment (PENN) will end their exclusive ESPN Bet deal early, creating uncertainty for the sports-betting site [1] - DraftKings stock rebounded after reaching a two-year low, with earnings expected to be reported after market close [1] - Penn Entertainment's stock rose as the company aims to conserve cash and refocus on its regional casinos [1] Group 2 - The Dow Jones index experienced an increase on Thursday, while DoorDash, Duolingo, and ELF Beauty saw significant declines following their earnings reports [2] - Robinhood reported a doubling of revenue and more than tripled earnings, marking a 282% year-to-date increase [4] - DraftKings and Flutter have been downgraded as prediction markets are impacting their profit margins [4]

Core Viewpoint - DraftKings Inc is expected to provide insights on its competition with prediction markets and its recent acquisition during the upcoming third-quarter financial results announcement Financial Performance - Analysts estimate DraftKings will report third-quarter revenue of $1.23 billion, an increase from $1.09 billion in the same quarter last year [2] - The company is projected to report a loss of 40 cents per share, compared to a loss of 17 cents per share in the previous year's third quarter [3] - DraftKings has beaten revenue estimates in five of the last ten quarters and earnings per share estimates in nine of the last ten quarters [2][3] Analyst Ratings and Market Sentiment - Bank of America Securities analyst Shaun C. Kelley downgraded DraftKings from Buy to Neutral, lowering the price target from $48 to $35, citing challenges from prediction markets and other headwinds [4] - Other analysts have maintained their ratings but adjusted price targets downward, with BMO Capital lowering from $65 to $63 and Bernstein from $55 to $50 [7] Key Items to Watch - The discussion on prediction markets is anticipated to be a focal point during the earnings call, especially regarding the acquisition of Railbird Technologies [6][8] - The launch of a mobile app for event contracts, DraftKings Predictions, is expected to be highlighted, with investors looking for details on revenue opportunities [8] Industry Context - The American Gaming Association predicts $30 billion will be wagered on the 2025 NFL season, representing an 8.5% year-over-year increase, with DraftKings positioned as a major beneficiary [11] - The third quarter results may reflect the impact of unfavorable sports outcomes, particularly with many favorites winning, which could affect financial performance [11][12] Stock Performance - DraftKings stock closed down 2.41% to $27.92, reaching a new 52-week low of $27.89, and is down 23.1% year-to-date [13]

DraftKings Inc (NASDAQ:DKNG) just hit a Death Cross — and its billionaire backers are feeling the chill. DraftKings stock has tumbled nearly 20% in a month, just as the sports-betting giant prepares to report its third-quarter earnings on Thursday after the close. For investors like Ken Griffin and Cliff Asness, who loaded up on the stock earlier this year, the timing couldn't be worse.Track DKNG stock here.The Billionaires' Bad BeatCitadel's Griffin added big to his DraftKings position in the second quarte ...

Market Trends & Industry Dynamics - Bank of America downgraded online sports betting operators DraftKings and Flutter [1] - Increasing prevalence of prediction markets poses a risk to the gambling market [1] Stock Performance - DraftKings and Flutter shares experienced a drop following the downgrade [1]

Core Insights - DraftKings Inc. (DKNG) is set to report its third-quarter 2025 results on November 6, with expectations of a revenue increase but potential earnings pressure due to various factors [1][10]. Financial Estimates - The Zacks Consensus Estimate for DKNG's third-quarter adjusted loss per share has widened to 14 cents from 2 cents over the past month, compared to an adjusted loss of 60 cents in the same quarter last year [2]. - Revenue expectations are pegged at $1.24 billion, reflecting a 13.3% year-over-year increase [2][10]. Revenue Drivers - The anticipated revenue growth is attributed to ongoing product innovation, strong user engagement, and DKNG's leadership in online sports betting and iGaming [3]. - Live betting continues to be a significant growth driver, supported by industry-leading uptime and a variety of in-game wagering options, particularly during major sports seasons [4]. - DKNG's expansion into new jurisdictions, such as the mobile sportsbook launch in Missouri, is expected to contribute positively to revenue [5]. Cost Pressures - The company's bottom line may face pressure from rising tax burdens in key states, expansion-related expenses, and elevated marketing investments during the peak football season [6][10]. - New tax pass-through mechanisms and regulatory developments could also create temporary margin friction [7]. Earnings Prediction - Current models do not predict an earnings beat for DKNG, with an Earnings ESP of -100.00% and a Zacks Rank of 4 (Sell) [8][9].