TMX Group Limited Increases Dividend by 10% to $0.22 per Common ShareJuly 31, 2025 5:04 PM EDT | Source: TMX Group LimitedToronto, Ontario--(Newsfile Corp. - July 31, 2025) - The Board of Directors of TMX Group Limited today declared a dividend of $0.22 on each common share outstanding, an increase of $0.02 or 10%. This dividend is payable on August 29, 2025 to shareholders of record at the close of business on August 15, 2025."TMX Group's fifth dividend increase in three years reflects the st ...

Core Insights - Intercontinental Exchange (ICE) reported second-quarter 2025 adjusted earnings per share of $1.81, exceeding the Zacks Consensus Estimate by 2.3% and reflecting a year-over-year increase of 19.1% [1][10] - The company achieved record net revenues of $2.5 billion, up 9.8% year over year, and also surpassed the Zacks Consensus Estimate by 0.7% [3][10] - Adjusted operating income rose 13.9% year over year to $1.6 billion, with an adjusted operating margin expansion of 200 basis points to 61% [4][10] Financial Performance - Total operating expenses decreased by 0.4% year over year to $1.3 billion, attributed to lower rent, occupancy, and administrative expenses [3] - Adjusted operating expenses were $983 million, reflecting a 3.8% year-over-year increase, while the adjusted operating income was $1.6 billion [4] - Operating cash flow was reported at $2.5 billion, up 12.1% year over year, and adjusted free cash flow increased by 14.2% to $2 billion [11] Segment Performance - Exchanges' net revenues reached $1.3 billion, a 16% increase year over year, with adjusted operating income of $1.1 billion, up 15.3% [5] - Fixed Income and Data Services revenues were $597 million, a 6% increase year over year, with adjusted operating income rising 2.8% to $261 million [6] - Mortgage Technology revenues increased by 5% to $531 million, with adjusted operating income up 22.1% year over year [7][8] Financial Position - As of June 30, 2025, ICE had cash and cash equivalents of approximately $2.3 billion, a 13.5% increase from December 31, 2024 [9] - Long-term debt stood at $17.3 billion, showing a slight increase from the end of 2024, while total equity rose by 2.9% to $28.5 billion [9] Guidance and Shareholder Returns - For the third quarter of 2025, GAAP operating expenses are expected to be between $1.245 billion and $1.255 billion, with adjusted operating expenses projected between $995 million and $1 billion [12] - ICE repurchased $496 million of its common stock and paid $555 million in dividends in the first half of 2025, with a declared dividend of 48 cents per share for the third quarter [14]

July 31, 2025 1 CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS 2Q25 Earnings Supplement This presentation may contain "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding ICE's business that are not historical facts are forward- looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in these forward-looking st ...

Coinbase Global is set to report second-quarter earnings after the closing bell Thursday, with traders anticipating a big swing from the crypto exchange's stock. https://t.co/EqfF6BCrFi ...

Market Dynamics - US stock exchanges' trading hours may change, impacting Hong Kong and California [1]

Summary of Key Points Core Viewpoint - The total short interest in Nasdaq securities has decreased slightly from the previous reporting period, indicating a potential shift in market sentiment towards these securities. Group 1: Nasdaq Global Market - At the end of the settlement date of July 15, 2025, short interest in 3,260 Nasdaq Global Market securities totaled 13,792,841,090 shares, down from 14,138,758,851 shares reported for the prior settlement date of June 30, 2025, reflecting a decrease in short interest [1] - The mid-July short interest represents 2.37 days of average daily volume compared to 2.59 days for the prior reporting period, indicating a reduction in the time it would take to cover short positions [1] Group 2: Nasdaq Capital Market - Short interest in 1,647 securities on The Nasdaq Capital Market totaled 2,853,251,720 shares at the end of the settlement date of July 15, 2025, an increase from 2,790,159,938 shares in the previous reporting period [2] - This represents an average daily volume of 1.00 day, consistent with the previous reporting period [2] Group 3: Overall Nasdaq Securities - In total, short interest in all 4,907 Nasdaq securities amounted to 16,646,092,810 shares at the July 15, 2025 settlement date, down from 16,928,918,789 shares at the end of the previous reporting period [3] - This reflects an average of 1.84 days of average daily volume, compared to 1.72 days for the prior reporting period, suggesting a slight increase in the time to cover short positions overall [3]

Core Insights - Nasdaq reported second-quarter 2025 adjusted earnings per share of 85 cents, exceeding the Zacks Consensus Estimate by 6.3% and reflecting a 24% year-over-year improvement [1][8] - The company's shares rose 1% in pre-market trading due to this outperformance [1] - Revenue growth was driven by higher revenues across three divisions and organic growth, although this was partially offset by increased expenses [1] Financial Performance - Nasdaq's net revenues reached $1.3 billion, marking a 13% year-over-year increase, with organic net revenue growth at 12% [2][8] - Annualized Recurring Revenue (ARR) grew 10% year over year to $2.9 billion, with organic growth at 9% [2] - Annualized SaaS revenues increased by 13%, accounting for 37% of ARR [2] Segment Performance - Capital Access Platforms' adjusted revenues were $527 million, up 9% year over year, driven by higher revenues across all business lines [3] - Financial Technology adjusted revenues were $464 million, reflecting a 10% increase, also supported by higher revenues from all business lines [3] - Solutions business revenues rose 10% year over year to $991 million, driven by strong growth in Index and Financial Technology [3] Market Services and Expenses - Market Services' net revenues increased by 21% year over year to $306 million, surpassing estimates [4] - Adjusted operating expenses were $585 million, an 8% increase from the previous year, reflecting investments in technology and personnel [4] - Adjusted operating income was $721 million, up 16% year over year, with an operating margin of 55%, expanding by 200 basis points [5] Financial Position - As of June 30, 2025, Nasdaq had cash and cash equivalents of $927 million, a 49% increase from the end of 2024 [6] - Long-term debt decreased by 4.4% to $8.7 billion [6] - The company generated $746 million in cash flow from operations during the reported quarter [6] Capital Deployment - Nasdaq returned $155 million to shareholders through dividends and $100 million through stock repurchases in Q2 2025 [9] - The board approved a dividend of 27 cents per share, payable on September 26, 2025 [9] - As of June 30, 2025, $1.5 billion remained under the board-authorized share repurchase program [9] Guidance - Nasdaq raised its 2025 non-GAAP expense guidance to a range of $2.295-$2.335 billion from the previous range of $2.265-$2.325 billion [8][10] - The company forecasts a non-GAAP tax rate for 2025 to be between 22.5% and 24.5% [10]

Market Trends & Trading Volume - CBOE thrives on high trading volumes and volatility [1] - People are trading options to an extent that has never been seen before [2] - Trading is hot, with both institutions and retail participating [6] Company Performance & Stock Analysis - CBOE's stock is one of the best returning stocks since its IPO in the summer of 2010, with approximately 850% return versus the S&P 500's approximately 640% in the same period [2] - CBOE is considered a fantastic company with one of the best charts in the market, making it one of the best stocks [3] - CBOE's earnings are scheduled for August 1st [3] Competitors & Industry Peers - Other companies benefiting from similar trends include Robin Hood, CME (more concentrated in futures), and IBKR [5] - IBKR released another great earnings report and is adding new accounts at a record rate [5][6] Trading Products & Instruments - High volumes are seen in trading the VIX, S&P 500 options (37 million contracts), and S&P 100 (OEEX) [3]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Intercontinental Exchange (ICE) due to higher revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - ICE is expected to report quarterly earnings of $1.76 per share, reflecting a +15.8% change year-over-year, and revenues of $2.52 billion, which is an 8.8% increase from the previous year [3]. - The consensus EPS estimate has been revised 1.14% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows a positive Earnings ESP of +0.51% for ICE, suggesting analysts are optimistic about the company's earnings prospects [12]. - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10]. Historical Performance - ICE has beaten consensus EPS estimates in three out of the last four quarters, with a recent surprise of +1.18% when it reported earnings of $1.72 per share against an expectation of $1.70 [13][14]. Conclusion - ICE is viewed as a compelling candidate for an earnings beat, but investors should consider other factors influencing stock performance beyond just earnings results [15][17].

Financial Performance - Nasdaq's net revenue for 2Q25 was $1306 million, a 13% increase year-over-year[17] - Solutions revenue reached $991 million, up 10% year-over-year[17] - Non-GAAP operating income was $721 million, a 16% increase year-over-year[17] - Non-GAAP diluted EPS increased by 24% year-over-year to $085[17] - Annualized SaaS revenues grew by 13% year-over-year to $1098 million[17] - Annualized Recurring Revenue (ARR) increased by 10% year-over-year to $2931 million[17] Segment Highlights - Index ETP AUM reached a record level of $745 billion at quarter-end, bolstered by $88 billion in net inflows over the trailing twelve months[13] - Capital Access Platforms revenue grew organically by 9% year-over-year[38] - Financial Technology revenue grew organically by 10% year-over-year[38] - Market Services net revenue increased by 21% year-over-year to $306 million[70]