Executive Summary
The 16-filing batch reveals a financials sector bifurcating into transaction/network compounders and asset-gathering businesses under pressure. Mastercard (net revenue +14% YoY, EPS +22%) and ICE (net revenue +15% YoY, adjusted EPS +18%) delivered record quarters, while T. Rowe Price suffered $28.3B net outflows and Coinbase posted a 34.9% YoY revenue decline with a nine-month swing to a $34.9M net loss.
Northern Trust was the standout earnings grower (+40% YoY net income, EPS +48%) but its balance sheet contracted 6% and AUC slipped 1% sequentially, signaling the growth was fee- and market-driven rather than organic. Insider activity skews bearish in aggregate (Capital One's CEO sold ~$17M across five transactions, plus sales at Interactive Brokers, Goldman Sachs, Travelers and Robinhood), yet Truist CEO Michael Lyons bought 25,000 shares (~$1.21M) at $48.36 — a high-conviction counter-signal. Capital allocation remains aggressively shareholder-friendly (ICE returned $2.5B YTD including $1.6B buybacks; Mastercard repurchased $12.0B in nine months, shrinking equity to $6.7B), which supports EPS but is compressing balance-sheet buffers and, at Mastercard, driving interest expense up 34.5% YoY. Key catalysts ahead: ICE's MarketAxess acquisition now expected to close Q1 2027 after early HSR termination, and US Bancorp's immediate CRO resignation creates a governance gap to monitor.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: 8-K · 10-Q · Form 4
Tracking the trend? Catch up on the prior S&P 500 Financials Sector SEC Filings digest from October 22, 2026.
Investment Signals (12)
- Mastercard ↓ (BULLISH)▲
Net revenue +14.0% YoY to $9,807M and diluted EPS +21.7% to $5.28, with purchase volume +9% local currency and effective tax rate falling to 19.4% from 21.5% — best-in-class growth among the payment names
- Truist Financial ↓ (BULLISH)▲
President & CEO Michael Lyons bought 25,000 shares at $48.36 (~$1.21M), lifting his holding to 46,000 shares — the only open-market CEO purchase in the batch and a strong conviction signal at current levels
- Intercontinental Exchange ↓ (BULLISH)▲
Record Q3 with net revenues +15% YoY to $2.8B, operating income +20% YoY to $1.4B, and Exchanges segment revenue +29.3% YoY to $2,407M; returned $2.5B YTD including $1.6B buybacks
- Northern Trust ↓ (BULLISH)▲
Q3 net income +40% YoY to $642.9M and diluted EPS +48% to $3.40, with nine-month net income +54% to $1,960.6M — the fastest earnings growth in the batch, driven by other noninterest income +48% YoY
- Coinbase ↓ (BULLISH)▲
Crypto Trading Volume Market Share nearly doubled to 10.7% from 5.6% in Q3'25 and Subscription & Services reached 49% of net revenue, while prediction markets annualized revenue exceeded $200M — revenue mix is diversifying even as headline revenue falls
- ICE (cash flow) (BULLISH)▲
Net cash from operating activities rose 32.5% to $4,486M for nine months from $3,387M, and a $452M investment gain lifted other income to $496M — funding capacity for the MarketAxess deal is strengthening
- T. Rowe Price▲
Adjusted diluted EPS rose 1.8% to $2.86 and net revenues grew 5.9% to $2,004.9M despite $28.3B outflows; alternatives AUM grew to $63.1B from $55.7B and capital allocation-based income jumped to $59.9M from $42.0M [NEUTRAL/BULLISH]
- Capital One ↓ (BEARISH)▲
Chairman & CEO Richard Fairbank sold 46,845 shares at $202.32 (~$9.48M) and 37,025 at $203.29 (~$7.53M) across five transactions under a 10b5-1 plan, while exercising 40,743 shares at $86.34 — systematic diversification, but the scale of sales near $200+ prices warrants caution
- Coinbase (profitability optics) (BEARISH)▲
Q3 net income rose 66.2% YoY to $718.7M on $715.0M of crypto asset investment gains and a 16.9% opex cut — the profit is mark-to-market driven, not operating, and the nine-month picture is a $34.9M net loss versus $1.93B income last year
- Travelers ↓ (BEARISH)▲
EVP & Chief Admin Officer Bessette sold 2,999.7 shares at $399.35 (~$1.2M) and gifted 25 shares, leaving 18,259.7 shares — a meaningful reduction in personal exposure at a high share price
- Interactive Brokers ↓ (BEARISH)▲
Director Lawrence Harris sold 25,000 Class A shares at $82.61 (~$2.07M), retaining 148,482 shares — a sizable director-level sale
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Chief Administrative Officer Ericka Leslie sold 250 shares across four transactions at $909–$926 (~$229K total), retaining 10,460 shares — small in dollar terms but a persistent selling pattern at record price levels [NEUTRAL/BEARISH]
Risk Flags (10)
- Coinbase↓ [HIGH RISK]▼
Total revenue fell 34.9% YoY to $1,215.6M and nine-month operating results swung to a $73.2M loss from $1,161.7M income; average USDC held in Coinbase products declined 49% YoY and average daily loan book balance dropped 74% YoY — user engagement and balance-sheet metrics are contracting sharply
- T. Rowe Price [HIGH RISK]▼
Net client outflows of $28.3B concentrated in equity (-$25.6B) and multi-asset (-$7.6B); equity AUM fell $23.1B QoQ to $896.3B and GAAP net income declined 5.2% YoY — organic growth remains negative and fee-rate pressure persists
- ICE Mortgage Technology [MEDIUM-HIGH RISK]▼
GAAP operating margin collapsed to 2% (adjusted 40%) on $536M opex versus $549M revenue, with revenue growth of only 4% — the slowest segment and a structural drag on consolidated margins
- Mastercard (balance sheet) [MEDIUM RISK]▼
Total equity fell to $6,740M from $7,746M at year-end 2025 as $12,010M of nine-month treasury purchases outpaced earnings; long-term debt rose to $22,189M from $18,251M and interest expense jumped 34.5% YoY in Q3
- US Bancorp↓ [MEDIUM RISK]▼
Vice Chair & Chief Risk Officer Jodi Richard resigned effective immediately on October 23, 2026 to join another public company, with EVP/Chief Credit Officer Troy Remington serving as interim — an abrupt CRO departure creates a governance and risk-oversight gap
- Northern Trust↓ [MEDIUM RISK]▼
Total assets contracted 6% to $167,270.3M, earning assets fell 7% and deposits dropped 7% versus year-end 2025, while AUC slipped 1% sequentially to $19,817.8B and the credit provision swung to $5.4M from a $(17.0)M benefit — earnings quality depends on volatile other income (+48% YoY)
- Coinbase (subscriber erosion) [MEDIUM RISK]▼
Paid Coinbase One subscribers fell 24% YoY and Assets on Platform market share dropped 12.5% Y/Y even as total assets hit a record $377B — share gains in trading volume are not translating into sticky retail relationships
- Mastercard (rebates) [MEDIUM RISK]▼
Payment network rebates and incentives rose 18% in Q3 (21% YTD), outpacing payment network revenue growth of 11% — incentive costs are structurally eroding the economics of volume growth
- ICE (earnings quality) [MEDIUM RISK]▼
Q3 other income fell to $11M from $71M a year earlier and total other expense widened to $(168)M from $(93)M, while Section 31 fees of $283M (versus none in Q3 2025) weighed on net revenue — the nine-month gain was flattered by a one-time $452M investment gain
- Sector-wide insider selling [MEDIUM RISK]▼
Five separate executives/directors sold in the batch (Capital One, Interactive Brokers, Goldman Sachs, Travelers, Robinhood) versus one open-market purchase (Truist) — a 5:1 sell/buy ratio at elevated share prices is a cautionary breadth signal
Opportunities (9)
- ICE/MarketAxess (OPPORTUNITY)◆
HSR waiting period terminated early and the merger is now expected to close in Q1 2027 — a cleared regulatory path removes the biggest overhang and creates a defined catalyst window for the fixed income and data franchise
- Truist Financial↓ (OPPORTUNITY)◆
CEO open-market purchase of 25,000 shares at $48.36 (~$1.21M) is a rare insider buy in a batch dominated by sales — historically a strong forward-return signal when a CEO buys at market
- Northern Trust↓ (OPPORTUNITY)◆
Nine-month net income +54% to $1,960.6M and EPS +48% YoY, with other noninterest income +134% over nine months to $1,133.3M — if fee momentum persists, the current earnings run-rate may not be fully reflected in valuation
- Mastercard↓ (OPPORTUNITY)◆
Adjusted EPS +21% YoY to $5.31 with purchase volume +9% and a lower 19.4% tax rate; accrued litigation fell to $262M from $800M and nine-month provisions dropped to $156M from $330M — legal overhang is clearing, freeing capital for buybacks
- Coinbase↓ (OPPORTUNITY)◆
Subscription & Services at 49% of net revenue plus >$200M annualized prediction markets revenue and derivatives TTM volume of $4.341T (vs $3.241T) — the revenue mix shift toward recurring, non-transaction income is underappreciated amid the headline revenue decline
- T. Rowe Price (OPPORTUNITY)◆
Alternatives AUM grew to $63.1B from $55.7B and capital allocation-based income rose to $59.9M from $42.0M; investments at fair value/equity method rose to $4,185.2M from $3,325.2M — the private markets build-out is a potential re-rating driver if outflows stabilize
- ICE (cash generation) (OPPORTUNITY)◆
Operating cash flow +32.5% to $4,486M for nine months funds both the $1.6B buyback and the MarketAxess integration — a self-funding growth model with record Q3 revenue
- US Bancorp↓ (OPPORTUNITY)◆
Interim CRO appointment of Chief Credit Officer Troy Remington keeps risk leadership internal and continuity intact; a permanent CRO announcement could remove the governance overhang and serve as a positive catalyst
- Coinbase (cost discipline) (OPPORTUNITY)◆
Q3 operating expenses fell 16.9% YoY and transaction expense dropped 23.2% to $194.5M — cost flexibility is protecting profitability through the revenue downturn, positioning for operating leverage on any crypto volume recovery
Sector Themes (6)
- Transaction Networks Outgrow Asset Managers◆
Mastercard (+14.0% YoY revenue) and ICE (+15% YoY) are compounding at double-digit rates while T. Rowe Price grows revenue 5.9% amid $28.3B outflows and Coinbase revenue falls 34.9% — the sector's growth premium is concentrated in toll-booth business models, not market-exposed AUM gatherers
- Aggressive Buybacks Compress Equity Buffers◆
Mastercard repurchased $12,010M in nine months, shrinking total equity to $6,740M from $7,746M, while ICE returned $2.5B YTD including $1.6B of buybacks — capital return is boosting EPS but thinning balance-sheet cushions and, at Mastercard, coinciding with a 34.5% YoY jump in interest expense
- Insider Selling Dominates at High Prices◆
Five executives/directors sold (Capital One ~$17M, Interactive Brokers $2.07M, Travelers $1.2M, Goldman ~$229K, Robinhood) versus a single open-market CEO purchase (Truist $1.21M) — a 5:1 sell/buy ratio suggests management teams view current share prices as fully valued
- Fee-Based Income Carries Earnings Growth◆
Northern Trust's other noninterest income +48% YoY (and +134% over nine months) and T. Rowe Price's capital allocation-based income rising to $59.9M from $42.0M show fee and investment income, not net interest income, driving the strongest earnings prints — a quality-of-earnings theme to stress-test
- Crypto Exposure Deleveraging◆
Coinbase's average USDC held fell 49% YoY, average daily loan book balance dropped 74% YoY and paid subscribers fell 24% YoY, even as platform assets hit a record $377B — retail engagement is thinning while institutional and derivatives volume (TTM $4.341T) grows, reshaping the crypto revenue base
- Margin Divergence Within Diversified Financials◆
ICE's Mortgage Technology GAAP margin collapsed to 2% and Fixed Income/Data ran 36% GAAP versus 46% adjusted, while Mastercard absorbed an 18% rise in rebates and incentives against 11% network revenue growth — segment-level margin dispersion is widening even at companies posting record consolidated results
Watch List (8)
- ICE/MarketAxess👁
Merger now expected to close Q1 2027 after early HSR termination — watch for deal financing terms, integration guidance and any updated synergy targets on the next earnings call
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Interim CRO Troy Remington in place following Jodi Richard's immediate October 23 resignation — watch for permanent CRO appointment and any disclosed risk-control remediation
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Nine-month net loss of $34.9M versus $1.93B prior-year income, with Q3 profit reliant on $715.0M of crypto asset gains — watch Q4 for whether subscription/services mix (49% of revenue) can offset transaction revenue declines
- T. Rowe Price👁
$28.3B quarterly outflows concentrated in equity (-$25.6B) — watch monthly AUM disclosures for stabilization and whether alternatives ($63.1B) can offset core equity fee-rate compression
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Equity down to $6,740M from $7,746M and interest expense +34.5% YoY — watch Q4 for any slowdown in the $12B buyback pace or further debt-funded repurchases
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Balance sheet contracted 6% with deposits down 7% and AUC -1% QoQ — watch Q4 for whether the +48% other noninterest income run-rate is sustainable or market-dependent
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CEO Fairbank's five-transaction sale (~$17M) at $202–$203 under a 10b5-1 plan — watch for additional plan sales and any change in the pace of dispositions
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EVP Bessette sold ~$1.2M at $399.35 — watch for further executive sales around the $400 level as a sentiment gauge for insurance sector valuation
Filing Analyses
(16)
29-10-2026
Coinbase filed an 8-K (Items 2.02, 9.01) with its Q3 2026 earnings deck, highlighting record operational scale but sharp year-over-year declines in key metrics. Assets on Platform hit a peak $377B (12.5% of total crypto market cap, flat Y/Y) and Crypto Trading Volume Market Share rose to 10.7% (up from 5.6% in Q3'25), while Assets on Platform market share fell 12.5% Y/Y, average USDC held in Coinbase products declined 49% Y/Y to $22B, and average daily loan book balance dropped 74% Y/Y. Subscription & Services reached 49% of total net revenue and prediction markets annualized revenue exceeded $200M, but paid Coinbase One subscribers fell 24% Y/Y, painting a mixed picture of share gains against contracting user and balance metrics.
- · Assets on Platform fell to $377B in Q3'26 from $516B in Q3'25, a 26.9% Y/Y decline
- · Average USDC Held in Coinbase Products rose to a record $22B from $15B in Q3'25 (+46.7% Y/Y)
- · Crypto Derivatives Trading Volume TTM reached $4.341T vs $3.241T in Q3'25
- · Crypto Trading Volume Market Share has grown for four consecutive quarters (1.8% in Q3'23 to 10.7% in Q3'26)
- · INTX/Deribit integration completed in October 2026; near-term volume volatility expected as participants adjust
- · Coinbase Pro relaunch planned for Q4 2026 with spot, futures, perpetuals, options, and equities
- · Prediction markets daily traders up 60%+ Q/Q; annualized revenue exceeded $200M
- · Stablecoin market cap expected to 10x to $3T by 2030; tokenized RWA expected to reach $16T by 2030
- · Agentic Finance agents forecast to process $3-5T of transactions by 2030
- · 10-Q for quarter ended September 30, 2026 filed October 29, 2026; 10-K for FY2025 filed February 12, 2026
29-10-2026
T. Rowe Price reported Q3 2026 results with ending AUM of $1,862.7 billion, down 1.6% from Q2 2026 and up 5.4% from Q3 2025, and net client outflows of $28.3 billion. U.S. GAAP net income attributable to the firm was $612.3 million, down 5.2% year over year, with diluted EPS of $2.79 versus $2.87 a year earlier, while adjusted diluted EPS rose 1.8% to $2.86 and net revenues grew 5.9% to $2,004.9 million. Results were mixed: revenue and adjusted EPS improved, but outflows, lower fee rates, and a decline in GAAP earnings weighed on performance.
- · Net outflows of $28.3B were concentrated in equity (-$25.6B), with multi-asset (-$7.6B) also negative; fixed income was modestly positive (+$3.4B)
- · Equity AUM fell $23.1B in the quarter to $896.3B, and multi-asset AUM fell $9.4B to $680.6B
- · Adjusted operating expenses rose 5.8% YoY, outpacing the 5.9% revenue growth only slightly, while adjusted net operating income grew 4.5% YoY
- · Q3 2026 GAAP results were supported by $63.1M in accrued carried interest, largely tied to the late-stage venture fund, and reduced by $3.2M in acquisition-related amortization
- · Adjusted non-operating income fell to $18.0M from $50.2M a year ago, driven by fixed income losses from rising interest rates
- · The firm reversed about $10M in accrued technology expenses in Q3 2026, which helped contain technology costs
- · Restructuring charge of $4.0M was recorded under the ongoing expense management program, down from $28.5M in Q3 2025
- · Full-year 2026 effective tax rate guidance is 23.5% to 25.5% on both GAAP and adjusted bases
- · Results are unaudited; the firm expects to file its Form 10-Q for Q3 2026
29-10-2026
ICE reported record third-quarter 2026 results: net revenues of $2.8 billion (+15% y/y), GAAP diluted EPS of $1.67 (+18% y/y), and adjusted diluted EPS of $2.02 (+18% y/y). Operating income reached $1.4 billion (+20% y/y), and the company returned $2.5 billion to stockholders year to date, including $1.6 billion in share repurchases. Performance was mixed by segment: Exchanges grew 22%, while Mortgage Technology revenue rose only 4% and Fixed Income and Data Services rose 9%, with mortgage technology GAAP operating margin falling to 2%. The HSR waiting period for the MarketAxess acquisition was terminated early, and the merger is now expected to close in Q1 2027.
- · Mortgage Technology's GAAP operating margin collapsed to 2% (adjusted margin 40%), driven by $536M of operating expenses versus $549M of revenue, a material gap versus the segment's prior-year profile.
- · Fixed Income and Data Services GAAP operating margin was 36% versus 46% adjusted, reflecting $429M in GAAP operating expenses.
- · Mortgage Technology revenue growth of 4% was the slowest of the three segments.
- · Section 31 fees of $283M were recorded in 3Q26 versus none in 3Q25, a new transaction-based expense line that compresses reported net revenue comparisons.
- · Net income attributable to ICE rose 15% but GAAP diluted EPS rose 18% y/y, reflecting a 2% reduction in diluted share count (563M vs 574M).
- · Unrestricted cash of $936M against $23.3B of outstanding debt, with 2026 Exchange recurring revenue guided to 9% growth and Fixed Income & Data Services recurring revenue to 8% growth.
29-10-2026
Intercontinental Exchange reported nine-month 2026 total revenues of $10,907M, up 14.8% from $9,498M, and operating income of $4,466M, up 21.0%. Q3 2026 revenues rose 20.7% YoY to $3,630M and diluted EPS rose to $1.67 from $1.42. However, Q3 operating expenses grew 9.6% and interest expense rose 15.6% YoY, while total other expense widened to $(168)M in Q3 from $(93)M, and weighted average diluted shares declined modestly, reflecting ongoing share repurchases.
- · Net cash provided by operating activities rose 32.5% to $4,486M for nine months from $3,387M.
- · Other income, net jumped to $496M for nine months from $95M, driven by a $452M investment gain, which masks weaker Q3 other income of $11M versus $71M a year earlier.
- · Q3 Exchanges revenue grew 29.3% YoY to $2,407M, while Section 31 fees of $283M in Q3 2026 versus none in Q3 2025 weighed on net revenue.
- · Total equity rose to $29,947M while treasury stock grew to $(9,505)M, reflecting $1,616M of repurchases in the equity statement.
- · Purchases of equity and equity method investments of $868M in nine months 2026 versus $15M a year earlier signal significant strategic investment activity.
- · Long-term debt increased to $20,345M from $18,609M, and short-term debt rose to $2,959M from $1,035M.
29-10-2026
On October 23, 2026, Vice Chair and Chief Risk Officer Jodi L. Richard resigned effective immediately to take a position at another publicly traded company; the resignation was not due to any disagreement with the Company. Troy W. Remington, Executive Vice President and Chief Credit Officer, will serve as interim Chief Risk Officer while the Company selects a successor.
- · Resignation is not related to any disagreement with the Company on operations, policies, or practices
- · Resignation was effective immediately upon notice on October 23, 2026
- · Filing dated October 29, 2026, reports Items 5.02 and 9.01
- · Securities listed on NYSE include common stock (USB) and multiple preferred depositary shares and senior notes
29-10-2026
President & CEO Lyons Michael P. bought 25,000 Common Stock at $48.36 (~$1.21M). Lyons Michael P. holds 46,000 shares after the transaction.
- · President & CEO Lyons Michael P. bought 25,000 Common Stock at $48.36 (~$1.21M)
29-10-2026
Mastercard reported Q3 2026 net revenue of $9,807 million, up 14.0% YoY from $8,602 million, and net income of $4,628 million, up 17.9% YoY from $3,927 million (diluted EPS $5.28 vs $4.34, up 21.7%). Nine-month net revenue reached $27,482 million (up 14.6% YoY) and net income $12,898 million (up 18.2% YoY). However, growth was offset by rising operating costs (G&A up 12.6% in the quarter), higher interest expense (up 34.5% in the quarter), a 35% increase in total other expense... see detail below, and a sharp decline in total equity to $6,740 million from $7,746 million at year-end 2025 as treasury stock purchases of $12,010 million over nine months outpaced earnings retention.
- · Interest expense rose 34.5% YoY in Q3 2026 and 16.0% over nine months, reflecting higher debt levels: long-term debt grew from $18,251M to $22,189M and short-term debt from $749M to $1,749M since year-end 2025.
- · Equity gains turned to losses: Q3 2026 losses on equity investments were $5M versus a $41M gain in Q3 2025, and the nine-month figure swung to a $73M loss from a $16M gain.
- · Accrued litigation fell sharply to $262M from $800M at December 31, 2025, and nine-month litigation provisions declined to $156M from $330M, a favorable development on the legal front.
- · Goodwill increased to $10,804M from $9,560M and other assets rose to $12,946M from $11,615M, indicating acquisition-related or other balance sheet expansion during 2026.
- · Class A shares outstanding declined to 866M from 887M since year-end 2025 due to heavy buybacks, though total equity fell as buybacks exceeded retained earnings growth.
- · Accumulated other comprehensive loss widened slightly to $(994)M from $(981)M, with nine-month comprehensive income of $12,885M versus $11,406M in the prior-year period.
29-10-2026
Northern Trust reported Q3 2026 total revenue of $2,294.4M, up 13% YoY, driven by noninterest income of $1,623.0M (+13%) and net interest income of $671.4M (+14%), with net income rising 40% to $642.9M and diluted EPS of $3.40 (+48%). However, balance sheet totals contracted versus year-end 2025, with total assets down 6% to $167,270.3M, earning assets down 7% to $154,404.7M, and deposits down 7% to $132,177.0M, while assets under custody slipped 1% sequentially to $19,817.8B despite a 9% YoY gain.
- · Nine-month 2026 net income rose 54% to $1,960.6M from $1,270.9M, with revenue up 21% to $7,198.1M
- · Other noninterest income surged 48% YoY in Q3 to $250.0M and 134% over nine months to $1,133.3M
- · Provision for credit losses swung to $5.4M in Q3 2026 from a $(17.0)M benefit in Q3 2025
- · Income before income taxes rose 29% YoY to $796.5M in Q3 and 50% to $2,561.8M over nine months
- · Book value per share rose 8% to $68.89 while market value per share rose 26% to $169.36
- · Wealth Management assets under custody/administration grew 8% YoY to $1,364.0B
29-10-2026
Chairman and CEO FAIRBANK RICHARD D sold 46,845 Common Stock at $202.32 (~$9.48M). 5 transactions reported in total. FAIRBANK RICHARD D holds 4,018,520 shares after the transaction. Trades executed under a Rule 10b5-1 plan.
- · Chairman and CEO FAIRBANK RICHARD D exercised/converted 40,743 Common Stock at $86.34 (~$3.52M)
- · Chairman and CEO FAIRBANK RICHARD D sold 46,845 Common Stock at $202.32 (~$9.48M)
- · Chairman and CEO FAIRBANK RICHARD D sold 37,025 Common Stock at $203.29 (~$7.53M)
- · Chairman and CEO FAIRBANK RICHARD D sold 6,873 Common Stock at $204.19 (~$1.4M)
- · Chairman and CEO FAIRBANK RICHARD D exercised/converted 40,743 Stock Options
29-10-2026
Director Harris Lawrence E sold 25,000 Class A common stock at $82.61 (~$2.07M). Harris Lawrence E holds 148,482 shares after the transaction.
- · Director Harris Lawrence E sold 25,000 Class A common stock at $82.61 (~$2.07M)
29-10-2026
Chief Administrative Officer LESLIE ERICKA T sold 100 Common Stock, par value $0.01 per share at $926.28 (~$92.6K). 4 transactions reported in total. LESLIE ERICKA T holds 10,460 shares after the transaction.
- · Chief Administrative Officer LESLIE ERICKA T sold 40 Common Stock, par value $0.01 per share at $909.63 (~$36.4K)
- · Chief Administrative Officer LESLIE ERICKA T sold 52 Common Stock, par value $0.01 per share at $911.21 (~$47.4K)
- · Chief Administrative Officer LESLIE ERICKA T sold 58 Common Stock, par value $0.01 per share at $912.23 (~$52.9K)
- · Chief Administrative Officer LESLIE ERICKA T sold 100 Common Stock, par value $0.01 per share at $926.28 (~$92.6K)
29-10-2026
Coinbase reported Q3 2026 total revenue of $1,215,582 thousand, down 34.9% YoY from $1,868,693 thousand, with net revenue falling 34.2% to $1,160,462 thousand. Despite the revenue decline, net income rose 66.2% YoY to $718,697 thousand (diluted EPS $2.51 vs $1.50) driven largely by $715,022 thousand in gains on crypto assets held for investment and lower operating expenses (-16.9%). However, the nine-month picture is far weaker: a net loss of $34,888 thousand versus prior-year net income of $1,927,060 thousand, with operating results swinging to a $73,240 thousand loss from $1,161,688 thousand income.
- · Q3 2026 transaction expense fell 23.2% YoY to $194,464 thousand, while technology and development rose 3.9% YoY to $447,377 thousand.
- · Nine-month 2026 technology and development expense rose 23.2% YoY to $1,445,873 thousand, the only major opex line to increase.
- · Restructuring charges of $47,789 thousand recorded in nine-month 2026 (none in prior year); Q3 2026 showed a $4,619 thousand restructuring credit.
- · Total assets declined to $27,385,314 thousand from $29,671,832 thousand at December 31, 2025.
- · Total shareholders' equity fell to $13,940,181 thousand from $14,793,058 thousand at year-end 2025.
- · Nine-month 2026 financing activities used $3,417,113 thousand, including $1,248,804 thousand of buybacks and $1,273,013 thousand of long-term debt repayment.
- · Customer custodial funds declined to $4,462,310 thousand from $5,347,428 thousand at December 31, 2025.
- · Nine-month 2026 net loss per basic and diluted share was $(0.13) versus $7.49 basic / $6.85 diluted income in 2025.
- · Other (income) expense, net was $(66,735) thousand in Q3 2026 versus $380,518 thousand expense in Q3 2025.
29-10-2026
EVP and Chief Admin Officer BESSETTE ANDY F sold 2,999.709 Common Stock at $399.35 (~$1.2M). BESSETTE ANDY F holds 18,259.688 shares after the transaction.
- · EVP and Chief Admin Officer BESSETTE ANDY F sold 2,999.709 Common Stock at $399.35 (~$1.2M)
- · EVP and Chief Admin Officer BESSETTE ANDY F gifted 25 Common Stock
29-10-2026
10% owner Robinhood Markets, Inc. sold 189 Common Shares of Beneficial Interest at $25.00 (~$4.73K). Robinhood Markets, Inc. holds 12,921,815 shares after the transaction. Trades executed under a Rule 10b5-1 plan.
- · 10% owner Robinhood Markets, Inc. sold 189 Common Shares of Beneficial Interest at $25.00 (~$4.73K)
29-10-2026
Mastercard reported third quarter 2026 net revenue of $9.8 billion, up 14% as reported and on a currency-neutral basis, with GAAP diluted EPS of $5.28 (up 22%) and adjusted diluted EPS of $5.31 (up 21%). Gross dollar volume grew 7% and purchase volume grew 9% on a local currency basis, while operating expenses rose 11% (12% adjusted), led by higher general and administrative costs, and the effective tax rate fell to 19.4% from 21.5%. Performance was strong overall, though rising operating expenses and higher interest expense on debt slightly offset top-line momentum.
- · Payment network rebates and incentives rose 18% in Q3 (21% YTD), outpacing payment network revenue growth of 11%, which tempers the net revenue contribution from volume growth.
- · Other income (expense) was unfavorable by $59 million YoY, driven by interest expense on debt and a net loss on equity investments versus a prior-year gain; adjusted other expense was unfavorable by $12 million.
- · Q3 adjusted operating expenses grew 12%, including a 1 percentage point contribution from acquisitions and dispositions.
- · Quarter-to-date repurchases of $0.6B through October 26 leave $4.9B remaining under approved programs.
- · Year-to-date operating expenses rose 11%, including a Q1 2026 restructuring charge, partially offset by lower litigation provisions.
- · Cross-border volume growth of 11% in Q3 (12% YTD) was the fastest-growing volume driver.
29-10-2026
T. Rowe Price's Q3 2026 10-Q shows net revenues of $2,004.9 million, up 5.9% YoY from $1,893.5 million, and nine-month net revenues of $5,769.3 million, up 7.2% from $5,380.7 million. Average AUM rose 9.6% YoY to $1,887.2 billion in the quarter. However, performance-based advisory fees declined to $21.3 million for nine months from $23.2 million (-8.2%), and administrative, distribution, servicing and other fees fell 6.3% YoY for the quarter ($141.3 million vs $146.4 million), while the fixed income AUM growth lagged other asset classes.
- · Alternatives AUM rose to $63.1 billion in Q3 2026 from $55.7 billion, and capital allocation-based income increased to $59.9 million from $42.0 million.
- · Investments at fair value/equity method rose to $4,185.2 million at 9/30/2026 from $3,325.2 million at 12/31/2025, led by new equity method investments in T. Rowe Price discretionary investments ($172.8 million).
- · Net decrease in redeemable non-controlling interests narrowed to $91.6 million in Q3 2026 from $441.9 million in Q3 2025, reducing volatility in consolidated fund reporting.
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