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Luke Kawa

Trump Media soars after striking deal with Crypto.com to launch ETFs

Slapping a Trump wrapper on a series of products has been a critical driver of the president’s success in the business world, and the publicly traded company that bears his name is emulating the strategy.

Trump Media & Technology Group is spiking in the premarket after striking a deal with Crypto.com to launch a series of exchange-traded investment vehicles.

These products “are expected to comprise digital assets as well as securities with a Made in America focus spanning diverse industries such as energy.” On the digital asset front, bitcoin and Cronos were highlighted as likely holdings.

The press release contains no explicit reference to the president’s meme coin, $TRUMP, which Trump said was “the greatest of them all” this weekend.

The president is the majority shareholder of Trump Media & Technology Group, which is the owner of the social media platform Truth Social and the incipient fintech brand Truth.Fi, with a stake worth about $2.6 billion at current prices.

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Jon Keegan

Oracle slides after-hours after beating on earnings, missing on revenue

Shares of Oracle fell over 6% in postmarket trading, after beating earnings expectations for its second quarter while coming in slightly below analyst estimates for revenue.

Adjusted earnings per share were $2.26, up 54% year on year, blowing past analyst expectations of $1.64 per share.

Revenue for the quarter was $16.06 billion, up 14% year on year, but missing estimates of $16.2 billion.

Sales from Oracle’s cloud computing unit were $8 billion for the quarter, up 34% year on year. Analysts were expecting $8.8 billion.

Oracle shares got a huge boost in September, after announcing a $300 billion deal with OpenAI, but all of that value has since disappeared. Shares are up 30% for the year so far.

Last quarter, Oracle reported $455 billion in RPOs (remaining performance obligations, or backlogged business). This quarter, that figure shot up to $528 billion, up 438% year on year.

The company announced it has sold its interest in its Ampere chip company. Oracle Chairman and CTO Larry Ellison said, “We are now committed to a policy of chip neutrality where we work closely with all our CPU and GPU suppliers. Of course, we will continue to buy the latest GPUs from Nvidia, but we need to be prepared and able to deploy whatever chips our customers want to buy. There are going to be a lot of changes in AI technology over the next few years and we must remain agile in response to those changes.”

Luke Kawa
12h
Investors are pricing in a global growth revival for 2026

High-beta stocks are outperforming, cyclicals are beating defensives, and long-term bond yields are rising.

6th Liuyang Fireworks Conference Held In China's Hunan
Tasha Matsumoto, Luke Kawa
12h
S&P 500 closes just shy of record as the Fed cuts interest rates

The rally was broad-based, with all sector ETFs gaining except for utilities.

CHICAGO, IL - DECEMBER 21: Chicago Bulls mascot "Benny" dunks a ball dressed as Santa Claus during a break in a game between the Bulls and the Philadelphia 76ers at the United Center on December 21, 2010 in Chicago, Illinois
Matt Phillips
14h
Hot DRAM! Micron up on memory price spike

Micron is riding a year-end wave of price target hikes and ratings hikes, as prices for its core DRAM memory products spike.

DRAM Micron
Luke Kawa
14h
Federal Reserve lowers policy rate by 25 basis points, dot plot signals 25 basis points in cuts for 2026

The Federal Reserve lowered its policy rate by 25 basis points to a range of 3.5% to 3.75% in its final scheduled meeting of 2025.

US-ECONOMY-FEDERAL RESERVE-POWELL

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