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- Robinhood Misses Q3 Earnings as Crypto Revenue Rises and Prediction Market Bets Grow
Robinhood reported record third-quarter revenue of $1.42 billion, slightly below the roughly $1.43 billion expected, and earnings of $0.51 per share versus $0.55 expected. Event contracts revenue rose to $173 million from $156 million in the prior quarter, while crypto revenue rose to $120 million but fell 55% from a year earlier. Customers traded a record 16.4 billion event contracts, more than seven times a year earlier. Net income was $476 million, down 14% from a year earlier, and the quarter included a $67 million unrealized loss on Robinhood Ventures Fund I. The company narrowed its 2026 adjusted operating expense guidance to $2.675 billion to $2.75 billion, and shares slipped in after-hours trading.
- Treasury's Bessent sees crypto as America's next tool for keeping the U.S. dollar on top
U.S. Treasury Secretary Scott Bessent, speaking at Ripple's Swell conference, argued that digital assets could reinforce the dollar's global dominance as technological leadership becomes a bigger source of economic influence alongside military strength. He said Treasury could work with the SEC and CFTC to clarify crypto rules after Congress failed to pass the Clarity Act, and set guardrails against banks cutting off crypto businesses. Bessent noted that the GENIUS Act established federal stablecoin rules, that more than 90% of stablecoins are backed by U.S. dollars, and that issuers often hold U.S. government securities as reserves, which could become an important source of funding for the Treasury.
- Amazon has a Muse problem. Is a deal with OpenAI a solution?
Laura Martin of Needham & Company said Amazon's move to block Meta's Muse shopping agent from its site is a typical defense by an incumbent, since roughly 85% of e-commerce is done on Amazon's website. She suggested Amazon consider a joint venture with OpenAI, owned 50/50, giving OpenAI access to Amazon for purchases while Amazon handles fulfillment, and said Amazon could work with several consumer AI agents rather than only one. Needham rates Meta 'hold', and Martin argued Meta moved first because other AI companies are compute constrained and have no revenue from consumer agents, so they are not yet pursuing the business.
- Why Royal Caribbean Stock Climbed Today
Royal Caribbean shares rallied Tuesday after the cruise operator reported higher-than-expected profit and raised its full-year earnings forecast. Third-quarter revenue rose 9% year over year to $5.6 billion. Adjusted net income climbed 12% to $1.8 billion, or $6.57 per share, beating analysts' estimate of $6.38. The company now expects full-year adjusted EPS of $17.85 to $17.95, up from $17.73 to $17.87. In September it agreed to acquire a 50% stake in Sandals and Beaches Resorts, giving access to 18 Caribbean resorts with more under construction. CEO Jason Liberty said 2027 bookings are pacing ahead of historical levels at higher rates.
- Warren Buffett's Successor, Greg Abel, Has $114.4 Billion Invested in These 3 Tech Stocks. None Is a Pure-Play Artificial Intelligence (AI) Company.
Berkshire Hathaway is entering a new chapter after Warren Buffett stepped down as CEO at the end of 2025, with successor Greg Abel reshaping the portfolio. Apple, Alphabet and Bending Spoons together represent about $114.4 billion, or 31.4%, of Berkshire's estimated $364 billion portfolio. None is a pure-play AI company, but each business model could become more valuable as AI adoption accelerates. Berkshire cut its Apple stake heavily in 2024 and 2025 before stabilizing at 227.9 million shares worth $79.1 billion, according to its second-quarter 13F filing. Its Alphabet stake grew to about 106 million shares worth $33.8 billion, while Google Cloud revenue rose 82% year over year to $24.8 billion in the second quarter.
- Goldman Sachs Sees Investors De-Risking From AI Stocks. At 63, She Finds the Same Crowded Trade Inside Her $900,000 401(k)
Goldman Sachs said investors are de-risking from a crowded trade in AI, semiconductor and hyperscaler stocks, citing rising capital costs, power constraints and more competition, and that last week saw the largest tech selling ever recorded in its prime brokerage book. Invesco QQQ Trust (NASDAQ:QQQ) is down about 4% over the past month but still up about 16% this year. The article uses a hypothetical 63-year-old with $900,000 across three 401(k) funds that share top holdings such as NVIDIA, Apple and Microsoft: if 40% of her balance ($360,000) tied to AI falls 25%, she loses about $90,000, leaving $810,000. Because she is nearing retirement, it argues the real risk is how much of the account depends on the same stocks, and suggests mapping overlapping holdings, matching exposure to withdrawals over the next three to five years, and rebalancing to a pre-set target.
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