Tech giant Block Inc (NYSE:XYZ) is charging 9% higher to trade at $79.21 at last glance, after news broke late last week it will be joining the S&P 500 Index (SPX) before the bell on Wednesday. Block stock will replace Hess (HES), after the company was purchased by Chevron (CVX) for $53 billionXYZ is now on track for a fourth-straight daily win, aiding in its attempt to erase some of its 7% year-to-date deficit. Should today's gains hold, the equity will log its best daily pop since May 12, though potential ...

Suneet Wadhwa, ex Ripple Head of Investments, joins Board of Advisors David Mansfield, ex VinFast CFO, has joined as group CFO Keith Loose, ex Block.one blockchain and tech infrastructure leader, has joined as group CTO LONDON, June 12, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR, “VivoPower” or the “Company”) is pleased to announce key executive leadership appointments, namely David Mansfield as Chief Financial Officer and Keith Loose as Chief Technology Officer. In addition, Sune ...

Core Viewpoint - Block Inc's shares have significantly declined following the announcement of disappointing first-quarter results, which have raised concerns among analysts regarding the company's performance and future guidance [1][18]. Group 1: Analyst Ratings and Revisions - Analyst Mark Palmer downgraded Block's rating from Buy to Hold, citing Cash App's gross profits of $1.38 billion, which fell short of the $1.42 billion estimate, contributing to overall shortfalls [2]. - KeyBanc Capital Markets' analyst Alex Markgraff maintained an Overweight rating but reduced the price target from $65 to $60, noting that Block's adjusted EBITDA of $812.8 million missed the consensus of $783.4 million [4]. - RBC Capital Markets' analyst Daniel Perlin reiterated an Outperform rating while lowering the price target from $86 to $63, highlighting a 32% year-on-year decline in Cash App's GPV to $2.7 billion, which missed expectations [6]. Group 2: Financial Performance and Guidance - Block reported a gross payment volume (GPV) of $54.1 billion, which was below the consensus estimate of $58 billion, and adjusted earnings of 56 cents per share, missing the consensus of 97 cents [2]. - Management has revised their full-year guidance lower, reflecting a more cautious macroeconomic outlook, although they still expect gross profit growth to accelerate in the latter half of the year [5][9]. - Cash App's gross profit growth decelerated to 10% year-on-year in Q1, down from 16% in the previous quarter, and the company lowered its 2025 gross profit projection to $9.9 billion from $10.22 billion [13][14]. Group 3: Market Reactions and Future Outlook - Shares of Block declined by 19.70% to $46.96 following the earnings announcement, indicating a negative market reaction to the results [18]. - Analysts expressed concerns about the overall growth trajectory of both Cash App and Square, with some suggesting that the current macro environment may continue to exert pressure on the company's performance [17][11].

Core Viewpoint - The earnings season is highlighting three crypto-adjacent companies: Riot Platforms Inc, MicroStrategy Inc, and Block Inc, each with distinct market performances and expectations ahead of their earnings reports [1][6]. Group 1: Riot Platforms Inc - Riot stock has experienced a modest 4.91% increase over the past month but remains down over 24% year-to-date and nearly 20% over the past year [1]. - The stock is trading below its 200-day simple moving average (SMA) and just above its 50-day SMA, indicating a strongly bearish trend, although there are signs of buying pressure suggesting potential interest from bargain-hunters [2]. Group 2: MicroStrategy Inc - MicroStrategy stock has shown remarkable performance, up 285% over the past year and 32% year-to-date [3]. - The stock is trading above all key moving averages, including the 200-day SMA of $265.89, with its current price at $396.60, indicating strong bullish signals and one of the cleanest bullish charts in the bitcoin ecosystem [4]. Group 3: Block Inc - Block stock is down 31.87% year-to-date but has gained 6.66% in the past month, indicating some recovery [4]. - The stock is trading above the eight-day and 20-day SMAs, showing bullish signs, but remains significantly below the 200-day SMA of $72.07, suggesting that while investor sentiment is improving, there is still technical work needed [5]. Group 4: Earnings Expectations - All three companies are set to report earnings after the market close, with varying narratives: MicroStrategy is priced for perfection, Riot is attempting to reverse its bearish trend, and Block is looking to improve its market position [6].

Fintech stocks SoFi Technologies Inc (NASDAQ:SOFI) and PayPal Holdings Inc (NASDAQ:PYPL) are in focus today, after both companies announced better-than-expected first-quarter earnings and revenue results. SoFi Technologies also lifted its full-year forecast, while PayPal maintained its profit outlook. SOFI was last seen up 1.9% at $13.45, heading for its sixth-straight win. Though the stock jumped over the $14 level earlier today, it will be interesting to see if it is ultimately rejected there once again, ...

Core Points - Fintech Block Inc XYZ announced layoffs affecting 931 employees, approximately 8% of its workforce, as part of a restructuring effort [1][3] - CEO Jack Dorsey emphasized that the layoffs are not due to artificial intelligence replacing jobs, but rather a response to the company's strategic needs [1][3] - The layoffs are categorized into three main areas: strategy (391 employees), performance (460 employees), and hierarchy (80 managers) [7] Company Strategy - Dorsey outlined that the job cuts are aimed at improving strategy, performance, and organizational hierarchy to enhance operational efficiency [2][3] - The company is closing the majority of its 748 job openings, retaining only key leadership and critical operational roles [3] - Dorsey stated that the company is "behind in our actions" and needs to move faster to adapt to industry transformations [3][6] Financial Context - Following the announcement, Block's stock price decreased by 1.6% to $60.32, with a year-to-date decline of 29% in 2025 [8] - Dorsey mentioned that the job cuts are not aimed at hitting specific financial targets but are necessary for the company's focus and execution [4][5] Employee Communication - Dorsey expressed gratitude towards departing employees and encouraged open feedback from remaining staff [4][5] - The CEO described the decision to cut jobs as the "toughest part" of his role, highlighting the emotional weight of such decisions [4]