Market Overview - U.S. equity markets are experiencing volatility due to disappointing corporate guidance, geopolitical tensions, and mixed economic data affecting interest rate outlooks [1][3] - Major indexes have softened after a strong performance led by technology gains, with the Dow Jones Industrial Average down 121 points (0.24%) to 49,542, S&P 500 down 13 points (0.19%) to 6,868, and Nasdaq Composite down 43 points (0.18%) to 22,712 [2] Economic Data - The Philadelphia Fed Manufacturing Index rose to 16.3 in February, significantly above the consensus estimate of 7.7, indicating continued expansion in regional manufacturing [4] - Initial jobless claims fell more than expected, highlighting the strength of the U.S. labor market [4] - Federal Reserve officials remain cautious about cutting interest rates too soon, with some suggesting potential rate hikes if inflation persists [5] Corporate News - Walmart reported better-than-expected quarterly earnings but issued a cautious profit forecast for 2026, leading to a more than 3% drop in shares [6] - Nvidia is in focus due to a partnership with Meta Platforms for AI chips, although its stock has moderated ahead of its earnings report [7] - Robinhood Markets shares fell 11% after revenue missed forecasts and high expense outlooks were provided [8] - Moderna's stock rose 6% following FDA review news for its flu vaccine candidate [8] - Exxon Mobil shares increased by 2.9% as crude oil prices rose amid geopolitical tensions [8] - Carvana's stock plummeted over 20% after reporting significant profitability loss in Q4 [8] - Smurfit Westrock shares surged 12% after an encouraging five-year financial forecast despite an earnings miss [8] Upcoming Events - Investors are monitoring "Fedspeak" from officials for monetary policy clues, with a primary focus on the upcoming PCE inflation data [9] - Geopolitical developments in the Middle East are influencing oil prices and the global inflation outlook [9]

Robinhood’s ( HOOD ) business is moving away from the trading-focused business it was originally founded on and becoming more of an asset-gathering business, subscription business, and banking business. This makes the business more stable andHi, I'm Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees f ...

Market Overview - Gold prices have dropped below $5,000, reaching a three-week low at $4,893, despite being up 3% month-to-date, primarily due to a stronger US dollar and weaker Asian demand as the Lunar New Year holiday approaches [1] - Earlier in February, gold experienced a significant increase of $281 per ounce, marking its largest dollar gain on record, closing at $4,903 [1][2] E Toro's Trading Platform - E Toro has launched 24/7 trading for gold, allowing investors to trade the precious metal at any time, which aligns with the company's strategy to tokenize all assets [3] - The platform previously introduced 24/5 trading for popular US equities, enabling users to trade outside regular market hours [4] Company Performance and Strategy - E Toro reported a strong Q4 performance with a 21% increase in stock value and positive earnings, indicating robust trading activity in gold and silver [5][20] - The company is witnessing a shift where crypto traders are increasingly engaging in commodities trading, suggesting a diversification of trading interests among users [6][7] Future Outlook - E Toro aims to evolve into a "super app" catering to the financial needs of a younger audience, with nearly 4 million brokerage accounts and 45 million registered users [12] - The company is focusing on the generational transfer of wealth, projected at $120 trillion, and the ongoing tokenization of assets, positioning itself at the forefront of these trends [16][17] Technological Innovations - E Toro is leveraging AI technology to enhance trading experiences, including the introduction of Tori Tri, an AI analyst that assists users in understanding market dynamics [18] - The platform is also fostering innovation by enabling pro investors to develop applications, with over 1,000 apps in the pipeline [19]

Robinhood Markets (HOOD) introduced the Robinhood Ventures Fund I (RVI), Robinhood Venture's inaugural fund that's expected to start trading on the New York Stock Exchange in coming weeks, the company said Tuesday. After its initial public offering, the closed-end fund is ...

Core Insights - Moody's Corporation (MCO) has established a regional headquarters in Riyadh, Saudi Arabia, to enhance its presence in the Middle East and align with Saudi Arabia's Vision 2030 [1][2] - The appointment of Mahmoud Totonji as general manager for the Riyadh headquarters aims to strengthen Moody's partnerships with local institutions and improve access to market intelligence [2][7] - The expansion into the Middle East is part of a broader strategy to diversify revenue sources beyond Western markets and enhance competitive positioning [3][7] Expansion Strategy - Moody's has a history of global expansion through acquisitions and partnerships, including plans to increase its stake in Middle East Rating & Investors Service and acquiring ICR Chile to bolster its Latin American presence [4][5] - The acquisition of Global Credit Rating Company Limited in 2024 and SCRiesgo in 2023 further solidifies Moody's reach in Africa and Central America, respectively [5] Market Performance - Over the past six months, Moody's shares have decreased by 8.7%, while the industry has seen a decline of 10.8% [6]

Financial Data and Key Metrics Changes - For the year, net contribution increased 10% to $868 million and rose 6% sequentially in the fourth quarter to $227 million [7] - Adjusted EBITDA grew 4% year-over-year to $317 million, and 11% quarter-over-quarter to $87 million, delivering a 38% adjusted EBITDA margin in the quarter [8][24] - AUA for the quarter increased 11% year-over-year to $18.5 billion, driven by record net deposits and improving customer retention metrics [24] Business Line Data and Key Metrics Changes - Net trading contribution from capital markets increased 43% year-over-year to $116 million, driven by investor rotation between crypto and traditional asset classes, particularly strong performance in commodities [25] - Net trading contribution from crypto declined 72% year-over-year to $26 million due to lower invested amounts per trade and softer trading activity [25] - Net interest income contributed $59 million, up 18% year-over-year, largely driven by a 29% increase in higher interest earning assets [26] Market Data and Key Metrics Changes - In 2025, trading volume in non-U.S. stocks activity increased by 80% year-over-year [18] - The U.S. market remains a focus, with plans to bring the full eToro experience to the U.S. and expand product offerings [20][21] - Significant growth in commodities trading was noted, with high engagement levels during periods of volatility [32] Company Strategy and Development Direction - The company aims to build a financial super app, focusing on expanding access to global markets and enhancing its product offerings [4][6] - eToro is committed to being an AI-first company, embedding AI across its business to accelerate product development and improve efficiency [15] - The strategy includes global expansion while deepening relationships in existing markets, particularly in Europe and the U.S. [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing significant opportunities in 2026, driven by technology innovation and alignment with macro trends [23] - The company is optimistic about the long-term outlook, emphasizing the importance of AI and the transition to on-chain market infrastructure [17][23] - Management noted that the current volatility in crypto markets is expected and that the diversified business model demonstrates resilience [25][36] Other Important Information - The company plans to increase sales and marketing investment from 21% to 25% of net contribution to drive growth [28] - eToro has repurchased 1.5 million shares for $59.5 million and announced an additional $100 million authorization under its share repurchase program [30] - The company is actively exploring M&A opportunities to support disciplined inorganic growth [53] Q&A Session Summary Question: How has eToro managed the current volatility in commodities? - Management noted high engagement and trading volumes in commodities during periods of volatility, particularly in October and January [32] Question: Can you provide context on the current crypto market backdrop? - Management remains bullish on crypto and is focusing on product development and marketing shifts to adapt to market conditions [35][36] Question: What is the expected timeline for increasing marketing expenses? - Management indicated gradual growth towards 25% throughout the year, with flexibility to adjust based on market conditions [37][39] Question: What is the outlook for AI integration and its impact on trading? - Management believes advancements in AI will lead to significant increases in algorithmic trading activity over time [43] Question: What is the current status of customer traction in the U.S.? - Management reported significant uptake in U.S. product launches and plans to continue scaling marketing activities [71][72]

Financial Data and Key Metrics Changes - In 2025, net contribution increased by 10% to $868 million, with a sequential rise of 6% to $227 million in Q4 [7][24] - Adjusted EBITDA grew 4% year-over-year to $317 million, with an 11% quarter-over-quarter increase to $87 million, resulting in a 38% adjusted EBITDA margin for the quarter [8][24] - Assets Under Administration (AUA) rose 11% year-over-year to $18.5 billion, driven by record net deposits and improved customer retention [24] Business Line Data and Key Metrics Changes - Net trading contribution from capital markets (equities, commodities, currencies) increased 43% year-over-year to $116 million, while net trading contribution from crypto declined 72% year-over-year to $26 million [25] - Net interest income rose 18% year-over-year to $59 million, attributed to a 29% increase in higher interest-earning assets [26] - eToro Money's contribution decreased 6% year-over-year to $23 million due to higher cash redemptions in crypto [26] Market Data and Key Metrics Changes - In 2025, trading volume in non-U.S. stocks increased by 80% year-over-year, indicating strong engagement in international markets [18] - The U.S. market remains a focus, with plans to enhance product offerings and marketing efforts to capture a larger share [20][21] Company Strategy and Development Direction - eToro aims to build a financial super app, leveraging AI to enhance user experience and product offerings [4][6] - The company is focused on expanding access to global markets, moving towards 24/7 trading, and broadening its crypto and decentralized finance offerings [6][10] - eToro plans to support over 100,000 tradable assets across equities and crypto by the end of 2026 [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing significant opportunities driven by technological advancements and the ongoing generational transfer of wealth [21][23] - The company anticipates continued growth in 2026, supported by a strong balance sheet and cash generation capabilities [30][31] Other Important Information - eToro has authorized an additional $100 million under its share repurchase program, increasing total authorization to $250 million [30] - The company plans to increase sales and marketing investment from 21% to 25% of net contribution to drive growth [28][29] Q&A Session Summary Question: How has eToro managed the current volatility in commodities? - eToro has seen high trading volumes in commodities, particularly in October and January, as customer engagement remains strong [32] Question: Can you provide context on the current crypto market backdrop? - Management remains bullish on crypto and is focusing marketing efforts on equities and commodities during periods of lower crypto interest [35][36] Question: What is the expected timeline for increased marketing spending? - The increase to 25% in marketing spending is expected to occur gradually throughout the year, not immediately in Q1 [37][39] Question: What does the integration of AI mean for trading outlook? - The integration of AI is expected to significantly enhance automated trading activity, leading to increased trading volumes over time [43] Question: What is the current status of the U.S. strategy and customer traction? - eToro has seen significant uptake in the U.S. market, with plans to launch additional products and scale marketing efforts [67][71]

Shareholder Update Fourth Quarter & Full Year 2025 February 17, 2026 eToro Group Ltd. Disclaimers This Presentation Relates to eToro's Broader Earnings Announcement Disclosures This presentation includes key performance indicators that eToro's management uses to help evaluate the business, measure its performance, identify trends, prepare financial projections and make business decisions. eToro's key performance indicators include Funded Accounts, Assets Under Administration and Net Contribution. Definition ...

Robinhood's (NASDAQ: HOOD) stock rallied more than 600% over the past three years. The online brokerage's stock soared as declining interest rates, the AI boom, and a "fear of missing out" propelled the market to record highs and attracted a fresh rush of retail investors. From 2022 to 2025, Robinhood's revenue surged from $1.4 billion to $4.5 billion. It turned profitable in 2024, and its net income rose 33% to $1.9 billion in 2025. From 2025 to 2027, analysts expect its revenue and net income to grow at ...

Core Viewpoint - The recent dip in Robinhood Markets' stock price presents a buying opportunity due to continued customer asset growth on its platform, despite a slight revenue miss in the fourth quarter [1][2]. Group 1: Financial Performance - Robinhood reported a 27% year-over-year increase in revenue for the fourth quarter, but slightly missed estimates, leading to a sharp sell-off in shares [1]. - Net deposits reached nearly $16 billion in the fourth quarter, reflecting an annualized growth rate of 19% compared to the previous quarter's total platform assets [4]. Group 2: Customer Engagement and Growth - The company has seen net deposits of $7 billion already in the early part of the first quarter of 2026, indicating strong customer engagement and asset inflow [5]. - There was a 57% year-over-year increase in the number of retirement accounts opened last quarter, showcasing Robinhood's ability to build long-term relationships with customers [6]. Group 3: Future Outlook - The growth in customer deposits is expected to create more revenue opportunities through interest- and fee-related products, including the new Robinhood Banking service [5]. - The revenue miss does not fully reflect the underlying growth on Robinhood's platform, suggesting a positive trajectory for the stock in the coming years [6].