Investment firms are lining up to buy Starbucks’ biz in China, where the coffee giant is competing with local faves like Luckin Coffee. Carlyle Group and EQT, plus China’s own HongShan Capital Group and Boyu Capital, are preparing final bids that could be squared away by the end of next month, Reuters reported. Starbucks is said to be entertaining bids from about 10 would-be buyers that value its Chinese operations at up to $5 billion. The Seattle company plans to hang onto a sizable stake in the country, ...

Core Insights - Cboe Global Markets reported record revenue and earnings per share (EPS) for Q2 2025, achieving non-GAAP EPS of $2.46, exceeding analyst expectations of $2.44, and GAAP revenue of $587.3 million, surpassing estimates of $575.1 million [1][2] - The company experienced strong growth in derivatives, market data services, and global foreign exchange units, while facing a decline in market share in the Options and North American Equities segments [1][5][6] - Management raised growth expectations for the remainder of FY2025 and tightened expense guidance despite ongoing competitive pressures [1][12] Financial Performance - Non-GAAP EPS increased by 14% year-over-year from $2.15 in Q2 2024 [2] - GAAP revenue for the Options segment grew by 19% to $364.8 million, supported by a 20% increase in average daily volumes [5] - The North American Equities segment reported flat GAAP net revenue of $98.4 million, with market share declines in both US and Canadian equities [6] - The Europe and Asia Pacific segment achieved 30% revenue growth, reaching $70.4 million, with market share gains in European equities [7] - Futures revenue declined by 14% to $30.1 million, while Global FX revenue increased by 19% to $23.6 million [8] Strategic Focus - Cboe operates marketplaces for a variety of assets, including stocks, options, futures, and foreign currencies, and is focused on product innovation and international expansion [3][4] - The company is enhancing its market data and analytics platform, Data Vantage, and has integrated digital business lines into its Futures unit [4][8] - Management has increased full-year 2025 organic net revenue growth guidance to "high single digits" and adjusted operating expense guidance to $832 million to $847 million [12] Shareholder Returns - The company returned $66.4 million in dividends and $35.3 million in share repurchases during the quarter, maintaining a quarterly dividend of $0.63 per share [9][13]