Core Insights - Newsmax Inc has announced a strategic plan to purchase up to $5 million in Bitcoin and Trump Coin, aiming to join over 100 public companies that hold cryptocurrencies on their balance sheets [2][3] - The CEO of Newsmax, Christopher Ruddy, emphasized that Bitcoin is becoming the gold standard of cryptocurrency and expressed confidence in the value of Trump Coin, linking it to the success of the Trump presidency [3] Company Strategy - The company plans to be the first listed on the New York Stock Exchange to include Trump Coin in its asset reserves [3] - Newsmax intends to begin cryptocurrency purchases in the near future, indicating a proactive approach to integrating digital assets into its financial strategy [3]

Market Overview - U.S. stock futures declined nearly 1% following a drop in major benchmark indices, with banking and financial stocks experiencing significant losses due to concerns over bad loans and fraud allegations [1][2][8] - The Dow Jones index fell 0.65% to 45,952.24, while the S&P 500 rose 0.63% to 6,629.07, and the Nasdaq Composite decreased by 0.47% to 22,562.54 [9][10] Company Performance - CSX Corp. reported better-than-expected third-quarter results with revenue of $3.59 billion, surpassing analyst estimates of $3.58 billion, and adjusted earnings of 44 cents per share, exceeding the expected 43 cents [6] - Standard Lithium Ltd. saw a significant decline of 18.55% after announcing a $120 million underwritten public offering of common stock [6] - American Express Co. is expected to report earnings of $4.00 per share on revenue of $18.05 billion, with shares declining by 1.12% ahead of the earnings announcement [14] - Oracle Corp. shares fell 3.74% as the company projected cloud infrastructure revenue to reach $166 billion by fiscal 2030, below analyst expectations of $198.4 billion [14] Sector Insights - Financial, utilities, and energy sectors recorded the largest losses, while information technology stocks managed to finish higher [8] - Renewed U.S.-China trade tensions are impacting the stock market, with expectations of higher inflation and slower GDP growth in the near term, but a more positive economic outlook is anticipated beyond 2026 [11][12]

Core Insights - Newsmax plans to purchase up to $5 million in Bitcoin and Trump Coin as part of its strategic crypto reserve initiative, approved by the Board of Directors [1][2] - The company aims to be the first NYSE-listed firm to acquire Trump Coin, which has a circulating value exceeding $1.2 billion [1][2] - Newsmax's shares fell nearly 4% following the announcement, trading at $10.83 amid macro volatility [4] Company Strategy - The first cryptocurrency purchase is imminent, although funding details have not been disclosed [3] - Future cryptocurrency acquisitions will depend on market conditions, operational needs, and strategic goals [3] - The strategic crypto accumulation follows President Trump's announcement of a "national strategic Bitcoin reserve" [3] Market Context - Bitcoin is currently trading at $105,227, down 5.31%, after reaching a record high of $126,000 on October 6 [5] - Trump Coin has also seen a decline of 6.6% in the past 24 hours, now priced at $5.64 [5]

Core Insights - U.S. stock futures are trading lower, indicating a cautious market sentiment ahead of key earnings reports [1] Company Earnings and Performance - Slb NV (NYSE:SLB) is expected to report quarterly earnings of $0.66 per share on revenue of $8.97 billion [2] - CSX Corp. (NASDAQ:CSX) reported third-quarter revenue of $3.59 billion, exceeding analyst estimates of $3.58 billion, with adjusted earnings of $0.44 per share, beating expectations of $0.43 per share [2] - American Express Co. (NYSE:AXP) is anticipated to post quarterly earnings of $4.00 per share on revenue of $18.05 billion [2] - Truist Financial Corp. (NYSE:TFC) is expected to report quarterly earnings of $1.00 per share on revenue of $5.20 billion [2] Stock Movements - SLB shares fell 0.3% to $32.82 in after-hours trading [2] - CSX shares rose 2.3% to $36.80 in after-hours trading [2] - American Express shares gained 0.5% to $324.58 in after-hours trading [2] - Newsmax Inc. (NYSE:NMAX) shares increased by 1.5% to $10.99 after announcing a $5 million purchase of Bitcoin and Trump Coin [2] - Truist Financial shares gained 0.6% to $41.33 in after-hours trading [2]

Core Insights - The news outlet operator plans to purchase up to $5 million in cryptocurrencies over the next year [1] - The company aims to be the first on the NYSE to purchase Trump Coin [1] Company Actions - The company will invest in cryptocurrencies, indicating a strategic move into the digital asset space [1] - The planned investment of $5 million reflects a significant commitment to cryptocurrency [1] Market Position - By being the first company on the NYSE to purchase Trump Coin, the company is positioning itself as a pioneer in the integration of cryptocurrency within traditional financial markets [1]

Publicly traded media company Newsmax is creating a digital assets treasury centered on Bitcoin and President Donald Trump's meme coin, which trades as TRUMP on Solana. The company's board of directors approved the plan, which will see it acquire up to $5 million of the two assets in total over the next year, according to a company announcement on Thursday. “​​Bitcoin is fast becoming the gold standard of cryptocurrency, and we believe it would be an important company marker to add this asset to our compan ...

CANARY CAPITAL FILES FOR $TRUMP COIN ETF WITH SEC- Canary Capital filed an S-1 with the U.S. Securities and Exchange Commission to launch a Trump Coin ETF, a first-of-its-kind product tied to the politically charged memecoin.- If approved, the fund will trade under the ticker MRCA.- The filing comes just days after Canary proposed its “American-Made Crypto ETF,” which tracks coins invented, mined, or operated in the United States. The Trump Coin ETF fits into this strategy, emphasizing tokens tied to U.S. c ...