Stock Indexes Mixed as Tech Shares Rebound; Dow Declines for 2nd Straight Day; Bitcoin Sinks to Lowest Level Since May

Why StubHub Stock Plunged 25% After Its First Post-IPO Quarterly Report

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Shares of ticket reseller StubHub (STUB) plunged Friday after the company declined to provide guidance for the current quarter with its first earnings report as a public company.

The stock was down about 25% around $14 in recent trading, after hitting its lowest levels since the company made its trading debut in September.

CFO Connie James told investors during Thursday’s earnings call that the company plans to issue a 2026 outlook when it reports fourth-quarter results in about three months.

StubHub said it recorded a net loss of $1.3 billion in the third quarter, but said it took a charge of about $1.4 billion awarding stock to its employees as it went public in the quarter. StubHub made $468 million in revenue, up 8% from the same time a year ago, when StubHub was still private.

StubHub’s gross merchandise sales, or the total value of tickets consumers bought through its platform, was $2.4 billion in the quarter. That was up 11% year-over-year, or up 24% excluding the impact of tickets that were sold in the same quarter last year for Taylor Swift’s record-breaking “Eras Tour.”

JPMorgan analysts, trimming their price target to $22 from $24, suggested StubHub’s decision to withhold its guidance could point to softness in the current quarter. However, the analysts said they’re still bullish on the stock, considering the sales growth and market share gains that the third-quarter’s results showed.

–Aaron McDade

Say Goodbye to the Penny: Why Exact Change Could Soon Disappear

1 hr 40 min ago

The U.S. penny, beloved by penny pinchers for 232 years, has officially reached the end of its production. On Wednesday, the U.S. Mint hosted a ceremonial strike event at its Philadelphia facility for the final 1 cent coin meant for U.S. circulation.

The decision to halt production is driven by economics and shifting consumer behavior. In 2024, it cost about 3.69 cents to mint each new penny, more than double the cost a decade ago. In addition, fewer Americans are using cash for everyday purchases, reducing the need for low-denomination coins even as long-term inflation has dramatically reduced their value.

The end of penny production has created a supply crunch, and cash-heavy businesses are scrambling to adapt. Many fast-food restaurants and retailers are trying to stockpile pennies or are switching to automatic rounding of cash transactions to the nearest 5 cents because they simply can’t make exact change.

The mechanics of rounding follow what some economists call “symmetric rounding.” If the total ends in 1, 2, 6, or 7 cents, it rounds down to the nearest nickel, and any transaction ending in 3, 4, 8, or 9 will round up. While it sounds like everything may even out in the end, businesses may try to price items so transactions skew more heavily to be rounded up.

Read the full article here.

–Gina Young

US to Slash Tariffs on Switzerland

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The U.S.’s steep tariffs on Swiss imports will be sharply reduced.

In an X post Friday morning, the Swiss Federal Government account said that “Switzerland and the U.S. have successfully found a solution: U.S. tariffs will be reduced to 15%.”

In July, President Donald Trump announced a 39% levy on Swiss goods.

U.S. Trade Representative Jamieson Greer told CNBC that Switzerland is “going to send a lot of their manufacturing here to the United States—pharmaceuticals, gold smelting, railway equipment.”

Under Armour Parts Ways With Curry Brand as Restructuring Expands

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Under Armour’s long partnership with NBA great Stephen Curry is drawing to a close.

After the bell Thursday, the Baltimore-based sneaker company said it “plans to separate Curry Brand from Under Armour,” although it “will release the Curry 13—the final Curry Brand x Under Armour shoe—in February 2026 as planned, with additional colorways and apparel collections available through October 2026.”

Under Armour (UAA; UA) said it now anticipates incurring up to $255 million in pre-tax charges related to its fiscal 2025 restructuring plan, up from the prior $160 million. “In connection with the separation of the Curry Brand, the company does not anticipate a significant effect on its consolidated financial results or profitability,” it said.

“This move lets two strong teams do what they do best,” Under Armour founder and CEO Kevin Plank said. “Under Armour is focused on product innovation and performance for athletes at every level. Curry Brand gets the independence to determine its own future. That’s good for Stephen and good for UA.” 

Under Armour shares were down nearly 2% less than an hour before the bell. They have lost about 40% of their value this year.

Walmart CEO Doug McMillon to Retire; Retail Giant Names Walmart U.S. CEO John Furner as Successor

3 hr 40 min ago

Walmart (WMT) soon will have a new chief executive.

The retail giant announced Friday that CEO Doug McMillon will retire on Jan. 31, 2026, and will be succeeded the following day by Walmart U.S. CEO John Furner, who will join the company’s board, effective immediately.

The 59-year-old McMillon has served as Walmart’s CEO for more than a decade. Furner, 51, has served in his current role since 2019 and “began his Walmart career as an hourly associate in 1993,” the company said.

McMillon will remain on the board until June, and advise Furner through fiscal 2027. Walmart “plans to make an announcement on Furner’s successor as CEO of Walmart U.S. before the end of FY2026,” it said.

Walmart shares fell nearly 3% about an hour before the bell.

Bitcoin, Crypto-Tied Stocks Drop Further

4 hr 20 min ago

The price of Bitcoin continues to drop. It’s dragging several cryptocurrency-related stocks along with it.

With Bitcoin falling to around $95,000—its lowest level since early May—crypto-tied stocks Strategy (MSTR), Robinhood Markets (HOOD), Coinbase Global (COIN), and MARA Holdings (MARA) pointed sharply lower after all sank yesterday.

Shares of Strategy were down nearly 7% in premarket trading, while those of Robinhood, Coinbase, and MARA fell more than 5%.

Yesterday, Robinhood was the worst performer on the S&P 500, with shares down 8.6%, while Strategy dropped more than 7% to lead Nasdaq decliners. MARA and Coinbase sank a respective 11% and 7%.

Stock Futures Point Lower as Tech Selloff Continues

4 hr 59 min ago

Futures contracts tied to the Dow Jones Industrial Average fell 0.5%.

S&P 500 futures were down 0.7%.

Nasdaq 100 contracts declined 1.2%.