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State Street Falls 6.4% Despite Strong Q3 Growth as Fee Revenue Slips Sequentially State Street (NYSE: STT) shares fell about

State Street (NYSE: STT) shares fell about 6.4% after the company reported third-quarter 2026 EPS of $3.69, up 33% year over year, on total...

10-14-26

Fastenal Rises 1% as Q3 Daily Sales Jump 15.5% and Operating Margin Expands Fastenal (NASDAQ: FAST) shares rose about 1%

Fastenal (NASDAQ: FAST) shares rose about 1% after the company reported strong third-quarter 2026 operating performance, highlighted by double-digit sales growth and improved profitability....

10-14-26

Progressive Falls 7.3% as Q3 Profit Slips Despite Strong September Results Progressive (NYSE: PGR) shares fell about 7.3% after the

Progressive (NYSE: PGR) shares fell about 7.3% after the insurer reported mixed third-quarter 2026 results, with strong September profitability but a modest decline in...

10-14-26

BlackRock Rises 0.4% as Record AUM and Strong Inflows Drive Double-Digit Growth BlackRock (NYSE: BLK) shares rose about 0.4% after

BlackRock (NYSE: BLK) shares rose about 0.4% after the asset manager reported strong third-quarter 2026 results, highlighted by record assets under management, robust client...

10-14-26

Morgan Stanley Falls 3.3% as Higher Expenses and Fixed Income Weakness Offset Strong Equities and Wealth Growth Morgan Stanley (NYSE:

Morgan Stanley (NYSE: MS) shares fell about 3.3% after the bank reported third-quarter 2026 net revenues of $20.3 billion and net income of $4.9...

10-14-26

Bank of America Falls 7.6% as $1.2 Billion Regulatory Charge and Trading Weakness Overshadow Higher NII Bank of America (NYSE:

(NYSE: BAC) shares fell about 7.6% after the bank reported third-quarter 2026 net income of $6.9 billion, or $0.91 per diluted...

10-14-26

ASML Reports Record Q3 Sales as AI Demand Pushes Capacity Beyond Planned Supply ASML Holding (NASDAQ: ASML) reported record third-quarter

ASML Holding (NASDAQ: ASML) reported record third-quarter 2026 net sales of €11.7 billion, up from €9.33 billion in the second quarter, as strong AI-related...

10-14-26

Canada Building Permits Jump 8.8% in August, Beating Expectations Canadian building permits rose 8.8% month over month in August, significantly

Canadian building permits rose 8.8% month over month in August, significantly above the 2.9% increase expected by economists. The gain marked a sharp rebound...

10-14-26

Wall Street Falls as September Inflation Comes in Hotter Than Expected U.S. stocks moved lower after September inflation data showed

U.S. stocks moved lower after September inflation data showed broader price pressures remained firmer than economists expected. The S&P 500 fell 0.76% to 7,745.85,...

10-14-26

FB Financial Falls 4.6% as Margin Compression and Higher Expenses Offset Strong Loan Growth FB Financial (NYSE: FBK) shares fell

FB Financial (NYSE: FBK) shares fell about 4.6% after the company reported third-quarter 2026 results that showed solid earnings and balance-sheet growth but weaker...

10-13-26

Albertsons Rises 2.3% as Turnaround Plan Overshadows Weak Q2 Profitability Albertsons Companies (NYSE: ACI) shares rose about 2.3% after the

Albertsons Companies (NYSE: ACI) shares rose about 2.3% after the grocer reported second-quarter fiscal 2026 results and announced a broader business review aimed at...

10-13-26

Domino’s Pizza Falls 3.4% Despite Higher Q3 Profit as Same-Store Sales Remain Weak Domino’s Pizza (NASDAQ: DPZ) shares fell about

Domino’s Pizza (NASDAQ: DPZ) shares fell about 3.4% after the company reported third-quarter 2026 results that showed solid earnings growth but only modest same-store...

10-13-26

NYSE:MS

Morgan Stanley Falls 3.3% as Higher Expenses and Fixed Income Weakness Offset Strong Equities and Wealth Growth

Morgan Stanley (NYSE: MS) shares fell about 3.3% after the bank reported third-quarter 2026 net revenues of $20.3 billion and net income of $4.9 billion, or $3.03 per diluted share. Revenue rose from $18.2 billion a year earlier, while EPS increased from $2.80.

Institutional Securities delivered strong growth, with revenue increasing to $10.0 billion from $8.5 billion. Equity revenue surged 41% to $5.8 billion, supported by broad client activity and strength in Asia. Investment Banking revenue rose 2%, helped by stronger advisory revenue, while Fixed Income revenue declined 7% to $2.0 billion.

Wealth Management was another bright spot, posting record revenue of $9.1 billion and a pre-tax margin of 30.4%. The business attracted a record $232 billion of net new assets and $80 billion of fee-based flows during the quarter.

Investment Management was weaker, with revenue falling 12% to $1.46 billion and pre-tax income declining to $259 million. The decline reflected a reversal of accrued carried interest tied mainly to investments in one private fund.

Expenses also increased meaningfully. Firmwide compensation expense rose to $8.0 billion from $7.4 billion, while non-compensation expense climbed to $5.7 billion from $4.8 billion. The expense efficiency ratio remained at 67%, while ROTCE declined to 22.6% from 23.5% a year earlier.

The 3.3% decline therefore appears to reflect investor concern over higher expenses, weaker Fixed Income and Investment Management performance, and lower year-over-year ROTCE, despite strong equity trading, record Wealth Management revenue and substantial client asset inflows.

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Global Finance News 10-14-26

Morgan Stanley Plans to Convert Nearly $10 Billion of Municipal Mutual Funds Into ETFs

Morgan Stanley (NYSE: MS) announced plans to convert eight municipal bond mutual funds representing nearly $10 billion in assets into seven newly created ETFs and one existing ETF, significantly expanding its presence in the fast-growing actively managed ETF market. The proposed conversions remain subject to shareholder approval and other closing conditions.

The initiative reflects growing investor demand for actively managed municipal bond ETFs, which combine professional portfolio management with the liquidity, transparency and accessibility of the ETF structure. The proposed products would give Morgan Stanley Investment Management exposure across different municipal bond maturities, income profiles and credit segments.

Morgan Stanley has already seen significant growth from earlier mutual-fund conversions. The Eaton Vance Total Return Bond ETF has expanded from $363 million at its March 2024 conversion to more than $6 billion, while the Eaton Vance Short Duration Municipal Income ETF has more than tripled its assets.

The move would further scale Morgan Stanley’s ETF business, which has grown to more than $16 billion in assets across 22 ETF and ETP products since launching in 2023. The broader investment-management operation oversees or manages approximately $2 trillion in assets.

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WS Investor 09-16-26

Morgan Stanley Stock Rises as Goldman Sachs Raises Price Target to $233

Morgan Stanley (NYSE: MS) climbed more than 3% on Monday after Goldman Sachs maintained its Neutral rating while raising its price target on the investment bank to $233 from $211.

The higher price target reflects improving expectations for Morgan Stanley's earnings outlook as investment banking activity and capital markets continue to recover. A stronger environment for equity offerings, mergers and acquisitions, and debt issuance has fueled optimism for fee income across major Wall Street banks.

Morgan Stanley also remains well positioned to benefit from resilient wealth management operations, which continue to provide stable recurring revenue alongside improving institutional securities performance. Higher client activity and a favorable backdrop for financial markets have further supported investor sentiment toward the banking sector.

Although Goldman Sachs kept its Neutral rating, the higher valuation target signaled increased confidence in Morgan Stanley's long-term earnings potential, helping lift shares during Monday's session.

The move comes as financial stocks continue to attract investor interest amid expectations of improving capital markets activity and a resilient U.S. economy, with investors now looking ahead to the upcoming earnings season for further insight into the sector's performance.

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WS Investor 07-06-26

Morgan Stanley reported strong third-quarter 2025 results, posting net revenues of $18.2 billion, up from $15.4 billion a year earlier, and earnings per share of $2.80. Net income rose to $4.6 billion, delivering a return on tangible common equity (ROTCE) of 23.5%, reflecting strength across all business divisions.

CEO Ted Pick highlighted “record revenues” and “consistent execution” across the firm’s integrated businesses. Wealth Management generated record revenue of $8.2 billion with $81 billion in net new assets, while Institutional Securities revenue surged to $8.5 billion, supported by a rebound in investment banking and strong equity trading. Investment Management also grew, with revenue reaching $1.7 billion and long-term net inflows of $16.5 billion.

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The Investor 10-15-25

Morgan Stanley Posts Strong Q2 2025 Results with $3.5 Billion Profit

Morgan Stanley reported second-quarter 2025 net revenues of $16.8 billion, up from $15.0 billion a year earlier. Net income reached $3.5 billion, or $2.13 per diluted share, compared to $3.1 billion and $1.82 per share in Q2 2024. Return on tangible common equity (ROTCE) was 18.2%, reflecting continued earnings strength.

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European Investor 07-17-25

Lynn Good Elected to Morgan Stanley Board of Directors

Morgan Stanley announced the election of Lynn Good to its Board of Directors, effective July 18, 2025. Good is the former Chair, CEO, and President of Duke Energy and brings extensive executive leadership and financial oversight experience.

Upon her appointment, the Board will expand to 15 members. Good will also serve on the Audit Committee.

Chairman and CEO Ted Pick highlighted her strategic insight and expertise in accounting and financial reporting, emphasizing the value she brings to the firm's leadership. Ray Wilkins, Chair of the Governance and Sustainability Committee, also expressed confidence in her contributions to the Board’s work.

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ME NEWS 06-17-25

Morgan Stanley Projects Deal Rebound, Highlights Strong IPO Pipeline

NEW YORK — June 10, 2025 — Morgan Stanley signaled renewed momentum in investment banking activity during a recent investor presentation, citing a recovery in equity capital markets and a robust pipeline of initial public offerings (IPOs).

Chief Executive Officer Ted Pick stated that deal volumes showed improvement following a temporary slowdown in April and early May. The firm is currently advising several high-profile IPOs, including digital bank Chime, musculoskeletal health firm Hinge Health, and adtech platform MNTN, with combined proceeds estimated above $1.4 billion.

Beyond equity markets, Morgan Stanley is leading major M&A transactions, such as Motorola’s $5 billion acquisition of Silvus Technologies and AT&T’s $5.75 billion purchase of Lumen Technologies’ consumer fiber division. Pick noted that upcoming regulatory adjustments could open the door to strategic acquisitions, particularly as leverage ratio frameworks evolve.

The firm also emphasized cost discipline, having recently completed a 3% workforce reduction affecting approximately 2,000 positions. Leadership stated the move was part of an effort to align resources with long-term growth and profitability targets.

Looking ahead, Morgan Stanley reaffirmed its strategic focus on expanding its wealth and investment management businesses while continuing to capitalize on cyclical improvements in advisory and underwriting markets.

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ME NEWS 06-11-25

Rialto Capital Advisors Named New Special Servicer for MSBAM 2013-C12 CMBS Trust

Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12 has appointed Rialto Capital Advisors, LLC (RCA) as the new special servicer, replacing CWCapital Asset Management LLC. The change, effective immediately, was initiated by RREF V Debt AIV, LP, the directing certificateholder, in accordance with the pooling and servicing agreement (PSA).

RCA will now be responsible for the workout and resolution of specially serviced mortgage loans and REO properties in the trust. Based in Miami, RCA services more than 173 CMBS transactions totaling over 9,600 assets and $159.9 billion in unpaid principal balance. The firm is backed by Rialto Capital Management and Stone Point Capital, and holds ratings of “CSS2+” from Fitch, “Above Average” from S&P, and “MOR CS2” from Morningstar DBRS.

Despite ongoing litigation related to a separate trust (COMM 2012-CCRE4) initiated by the Icahn Funds, RCA affirms that the dispute does not affect its obligations to the MSBAM 2013-C12 trust.

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ME NEWS 04-30-25

Morgan Stanley Reports Strong Q1 2025 Results With Record Revenues and Robust ROTCE

Morgan Stanley posted a strong start to 2025, reporting record net revenues of $17.7 billion for the first quarter, a 17% increase year-over-year. Net income applicable to the firm reached $4.3 billion, or $2.60 per diluted share, compared to $3.4 billion and $2.02 in the prior-year quarter. The return on tangible common equity (ROTCE) came in at 23.0%, up from 19.7% a year ago.

Institutional Securities led the performance with $9.0 billion in net revenues, driven by record equity trading revenues of $4.1 billion and solid results in fixed income and investment banking. Pre-tax income for the segment rose to $3.3 billion. Advisory revenues rose due to higher M&A activity, while fixed income underwriting also improved, helped by strong demand for non-investment grade loan issuances.

Wealth Management delivered $7.3 billion in net revenues, with a pre-tax margin of 26.6%. The segment benefited from higher asset management fees and net new assets totaling $94 billion. Fee-based flows were also strong at $30 billion. Compensation expenses increased slightly due to higher revenue levels, while non-compensation expenses remained flat.

Investment Management posted $1.6 billion in net revenues, a 16% increase over the previous year. Growth was attributed to higher average assets under management and increased carried interest in infrastructure funds. Pre-tax income for the segment reached $323 million.

During the quarter, Morgan Stanley repurchased $1.0 billion of common stock and declared a quarterly dividend of $0.925 per share. The firm ended the quarter with a CET1 capital ratio of 15.3% under the standardized approach.

Total expenses were $12.1 billion, including $144 million in severance costs due to a workforce reduction of about 2%. The firm’s expense efficiency ratio improved to 68% from 71% a year ago. Book value per share rose to $60.41, and tangible book value per share reached $46.08.

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Global Finance News 04-12-25

Morgan Stanley Direct Lending Fund to Report Q1 2025 Results on May 8

Morgan Stanley Direct Lending Fund (NYSE: MSDL) announced that it will release its financial results for the first quarter ended March 31, 2025, after market close on Thursday, May 8.

The company will host an earnings conference call the following morning, Friday, May 9, at 10:00 a.m. Eastern Time to discuss the results with analysts and investors.

Further details regarding access to the call and accompanying materials will be made available through the company’s official communication channels.

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ME NEWS 04-09-25

06-10-26WS Investor

04-15-26WS News

10-29-25The Investor

10-15-25European Investor

10-03-25WS News

EURONEXT:ASML

ASML Reports Record Q3 Sales as AI Demand Pushes Capacity Beyond Planned Supply

ASML Holding (NASDAQ: ASML) reported record third-quarter 2026 net sales of €11.7 billion, up from €9.33 billion in the second quarter, as strong AI-related semiconductor demand continued to drive equipment spending.

Gross margin improved sharply to 57.5% from 54.0% in the prior quarter, while net income climbed to €4.96 billion from €2.92 billion. Basic EPS rose to €12.95 from €7.59. ASML sold 113 new lithography systems during the quarter, compared with 86 in Q2, while Installed Base Management sales increased to €3.29 billion.

CEO Christophe Fouquet said customer equipment demand forecasts continue to rise, driven primarily by expectations for the size and duration of AI investment. Some customers are now expressing interest in placing orders for 2029 and even 2030.

The company also said its currently planned supply for both 2027 and 2028 is no longer expected to fully meet customer demand. ASML is therefore evaluating ways to increase 2028 capacity beyond the previously announced 30% expansion, highlighting unusually strong order-book visibility across the semiconductor equipment cycle.

For the fourth quarter, ASML expects net sales of €14.2 billion to €15.2 billion and a gross margin of around 57%. Full-year 2026 revenue is expected between €44 billion and €45 billion, with gross margin around 56%.

ASML also repurchased approximately €4.1 billion of shares during the quarter under its 2026–2028 buyback program and declared an interim dividend of €1.88 per share.

The results reinforce ASML’s position as one of the clearest beneficiaries of AI-driven semiconductor capital spending, with the key message shifting from demand recovery to whether the company can expand production quickly enough to satisfy customer requirements through 2028 and beyond.

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Global Finance News 10-14-26

ASML Holding N.V. announced the outcomes of its 2026 Annual General Meeting, where shareholders approved key financial and governance proposals.

The company’s 2025 financial statements were adopted, and a final dividend of €2.70 per share was approved, bringing the total dividend for 2025 to €7.50 per share. Shareholders also granted authorization for share buybacks of up to 10% of issued capital and approved the issuance of new shares under defined limits.

Board-related decisions included the reappointment of existing supervisory members and the appointment of new members, alongside the approval of PricewaterhouseCoopers as external auditor for 2027.

Overall, the meeting reaffirmed ASML’s capital allocation strategy, governance structure, and shareholder return policy, with a positive advisory vote on executive remuneration.

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The Investor 04-22-26

Veldhoven, April 15, 2026 — ASML reported first-quarter net sales of €8.8 billion and net income of €2.8 billion, with a gross margin of 53%, at the high end of its guidance.

The company highlighted strong demand driven by continued investment in AI-related semiconductor infrastructure, with customers accelerating capacity expansion plans. ASML said order intake remains robust as chip demand continues to outpace supply.

Looking ahead, ASML expects second-quarter sales between €8.4 billion and €9.0 billion and has raised its full-year 2026 outlook to €36–40 billion in sales, with gross margins of 51–53%.

The company also announced a proposed €7.50 per share dividend for 2025, alongside ongoing share buybacks, reflecting confidence in its growth trajectory amid strong semiconductor market fundamentals.

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European Investor 04-15-26

ASML announced plans to strengthen its focus on engineering and innovation by streamlining its Technology and IT organizations, as outlined in an internal message shared alongside its FY2025 results.

The company said rapid growth has made some processes less agile, with engineers calling for fewer bottlenecks and a return to faster decision-making. To address this, ASML plans to move away from a project-based matrix structure toward dedicated product- and module-focused engineering teams, while preserving core technical capabilities and common standards across domains.

As part of the proposed changes, some roles, mainly at leadership level, may be eliminated, while new engineering positions will be created to support existing and future technology projects. Overall, the restructuring could lead to a net reduction of around 1,700 positions, mostly in the Netherlands and partly in the United States. ASML emphasized that it will continue hiring in areas such as manufacturing, customer support and sales to meet strong customer demand, and committed to handling the process responsibly, with transparency and support for affected employees.

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European Investor 01-28-26

ASML Commits €93m to Boost Mobility and Accessibility in Brainport Region

ASML has pledged €93 million to the Beethoven mobility package to support improved accessibility and future-proof transport infrastructure in the Eindhoven Brainport region. The investment will fund projects such as new bicycle paths, enhanced public transport, and an underground bus station at Eindhoven Central Station, as part of a broader €4.5 billion public-private regional development program covering mobility, housing, talent, and social infrastructure.

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Global Finance News 12-22-25

ASML rejects claims made in new Dutch book

ASML stated that a newly published Dutch book about the company contains highly inaccurate and damaging claims. The firm said it had previously warned the authors in writing before publication. ASML called suggestions that it offered to act on behalf of any government, or knowingly violated agreements with Dutch, US or other authorities, “factually incorrect and misleading.” The company emphasized that it fully complies with all applicable laws and export control regulations.

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Global Finance News 11-21-25

ASML: The US$378 Million Machines That Make Modern Life Possible

Discover how ASML influences the tech world with its advanced machines that power smartphones, cars, and servers.

(thesmartinvestor.com.sg)

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WS Investor 10-02-25

A step-by-step guide to the semiconductor supply chain for investors

The surge in AI adoption has driven unprecedented demand for semiconductors, fuelling a multiyear growth cycle.

(fifthperson.com)

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WS Investor 09-09-25

ASML Stock (ASML) Charges Higher as Europe Urges Chips Investment to Challenge the U.S. | Markets Insider

Shares in Dutch semiconductor group ASML Holding (ASML) climbed higher today as hopes of a new European program to boost the region’s chip indus...

(markets.businessinsider.com)

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Global Finance News 03-26-25

ASML's annual report says export curb worries hit customer spending in 2024

AMSTERDAM (Reuters) -ASML, the computer chip equipment maker that has been hit by successive waves of U.S.-led restrictions on exports to China, said in its annual report on Wednesday that uncertainty over export controls had weakened customer demand in 2024. "Macroeconomic uncertainty - including [over] technological sovereignty and export controls - led certain customers to remain cautious and control capital expenditure." ASML's customers include TSMC of Taiwan, South Korea's Samsung and SK Hynix, SMIC of China and Intel of the U.S. among others.

(uk.finance.yahoo.com)

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European Investor 03-06-25

04-21-26The Investor

04-20-26WS News

04-15-26European Investor

04-15-26WS News

Canada

Canada Building Permits Jump 8.8% in August, Beating Expectations

Canadian building permits rose 8.8% month over month in August, significantly above the 2.9% increase expected by economists.

The gain marked a sharp rebound from the previous month’s 15.8% decline, suggesting renewed momentum in planned construction activity after a weak July.

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Global Finance News 10-14-26

Canada Employment Falls Sharply in September as Unemployment Holds at 6.5%

Canada lost 68,300 jobs in September, a much weaker result than the 6,100 increase expected by economists and following a 41,700 decline previously.

Despite the sharp drop in employment, the unemployment rate held at 6.5%, matching expectations but edging up from 6.4% in the prior month.

The data point to continued weakness in the Canadian labor market. Two consecutive months of sizable employment losses suggest hiring momentum has deteriorated, even though the unemployment rate has not yet moved materially higher.

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Global Finance News 10-09-26

Canada Posts Larger Trade Surplus While Ivey PMI Signals Slower Growth

Canada’s trade surplus widened sharply to C$4.20 billion in August, well above expectations for C$1.50 billion and up from C$0.79 billion in the previous month.

The stronger-than-expected trade balance suggests net exports provided a more favorable contribution to economic activity during the month, with the surplus expanding substantially beyond market forecasts.

Separately, Canada’s Ivey PMI fell to 58.2 in September from 64.3 in August and missed expectations for 65.2.

Despite the decline, the index remained comfortably above the 50 level that separates expansion from contraction, indicating that Canadian business activity continued to grow, albeit at a slower pace.

Taken together, the data present a mixed picture: external trade improved materially in August, while the September PMI suggests some moderation in domestic economic momentum.

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The Investor 10-06-26

Canada GDP Stalls in July, August Estimate Points to Modest Rebound

Canada’s economy was unchanged in July, with monthly GDP growth at 0.0%, matching market expectations but slowing from a 0.3% increase previously.

The flat reading suggests economic momentum weakened at the start of the third quarter, with overall activity failing to expand during the month.

An early estimate for August was more encouraging, however, pointing to 0.2% monthly growth. If confirmed, that would suggest the economy regained some momentum after July’s pause.

For markets, the mixed picture may keep expectations for Bank of Canada policy balanced. The weak July reading supports the case for easier policy, while the August rebound estimate suggests the economy is not deteriorating sharply.

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WS Investor 09-29-26

Canada Wholesale Sales Fall 1.5% in August

Canada’s wholesale sales declined 1.5% month over month in August, reversing the previous month’s 0.3% increase.

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WS News 09-25-26

Canada Retail Sales Fall in July, but August Estimate Points to Strong Rebound

Canadian retail sales declined 0.7% month over month in July, slightly better than the 0.8% contraction expected but reversing the previous month’s 0.6% increase.

Core retail sales, which exclude some volatile components, also fell 0.7%, missing expectations for a 0.5% decline and weakening from a 0.5% gain previously.

The July figures point to softer household spending momentum, but an early estimate for August showed retail sales rebounding 1.3% month over month.

The mixed data suggest consumer demand weakened in July but may have recovered quickly in August. For markets, the stronger August estimate partly offsets the softer July report and may limit the extent to which the data reinforce expectations for easier Bank of Canada policy.

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European Investor 09-24-26

Canada New Housing Prices Fall 0.1% in August

Canada’s New Housing Price Index declined 0.1% month over month in August, matching the previous month’s decrease.

The reading suggests that pricing conditions in the new-home market remained soft, with builders facing continued affordability constraints and cautious buyer demand.

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The Investor 09-17-26

Canada Housing Data Weakens as Building Permits Plunge 17.3%

Canada’s housing sector showed renewed weakness, with housing starts coming in at an annualized 229,000 units in August, below expectations of 243,000 and little changed from the previous month.

Building permits delivered a much larger downside surprise, plunging 17.3% month over month in July compared with expectations for a 4.7% decline, reversing the previous month’s strong 18.3% increase.

The figures add to signs of cooling in Canada’s housing market. Overall, the sharp decline in permits and softer construction activity suggest that residential investment could remain under pressure in the coming months, particularly if borrowing costs stay elevated.

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WS Investor 09-16-26

Canada Wholesale Sales Rise 0.3% in July, Beating Expectations

Canadian wholesale sales unexpectedly increased in July, providing a more resilient signal for economic activity at the start of the third quarter.

Wholesale sales rose 0.3% month over month to C$93.1 billion, beating expectations for a 0.5% decline, though growth slowed sharply from June’s 2.8% increase.

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The Investor 09-15-26

Canada Inflation Cools in August as Monthly CPI Falls 0.1%

Canada’s inflation data showed easing monthly price pressures in August, with headline CPI falling 0.1% month over month, matching market expectations and reversing the previous 0.5% increase.

Core CPI increased just 0.1% on a monthly basis, below the 0.2% forecast and the previous 0.2% reading. On an annual basis, however, core inflation edged higher to 2.4% from 2.3%.

The figures present a mixed inflation picture: short-term price momentum weakened noticeably, while underlying annual inflation remained somewhat sticky.

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WS Investor 09-14-26

10-06-26Global Finance News

09-17-26WS News

09-09-26European Investor

09-07-26WS News

08-24-26The Investor

NYSE:BLK

BlackRock Rises 0.4% as Record AUM and Strong Inflows Drive Double-Digit Growth

BlackRock (NYSE: BLK) shares rose about 0.4% after the asset manager reported strong third-quarter 2026 results, highlighted by record assets under management, robust client inflows and sharp growth in adjusted earnings.

Assets under management reached $15.5 trillion following $869 billion of net inflows over the past 12 months. In the third quarter alone, BlackRock generated $205 billion of net inflows and 11% annualized organic base fee growth, with strength across iShares ETFs, systematic active equities, private markets and cash.

Revenue increased 19% year over year, supported by higher market levels, organic base fee growth, stronger performance fees and continued expansion in technology services and subscription revenue. Technology services and subscription revenue rose 14%, reflecting momentum in Aladdin and other multi-product solutions.

Profitability also improved materially. GAAP operating income rose 19%, while adjusted operating income increased 27%. Adjusted diluted EPS climbed 38% year over year to $15.93, while reported diluted EPS was $10.57. BlackRock said the GAAP figure was affected by a non-cash fair-value change tied to contingent consideration from prior acquisitions.

Management also highlighted continued strength in private markets and technology. BlackRock raised $68 billion in private markets over the past 12 months, while Aladdin and Preqin continued to support broader client relationships across investing, financing and data.

The company repurchased $550 million of shares during the quarter. CEO Larry Fink said BlackRock entered the fourth quarter with accelerating momentum and a broad pipeline spanning whole portfolio solutions, private markets, retirement and international opportunities.

The modest 0.4% gain suggests investors viewed the quarter positively, with record AUM, strong inflows and expanding margins supporting the stock, though the market reaction remained relatively contained despite the strong operating performance.

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Global Finance News 10-14-26

BlackRock Inc. reported strong first-quarter 2026 results, with diluted earnings per share of $14.06, or $12.53 on an adjusted basis, supported by robust inflows and revenue growth.

The firm recorded $130 billion in quarterly net inflows, driven by a record performance in its iShares ETF business alongside continued demand for active and private market strategies. Over the past 12 months, total net inflows reached $744 billion, contributing to 10% organic base fee growth.

Revenue rose 27% year-over-year, benefiting from favorable market conditions, higher fee income, and growth in technology services, including the Aladdin platform. Technology services and subscription revenue increased 22% annually, further supported by the Preqin acquisition.

Operating income climbed 66% on a GAAP basis, while adjusted operating income rose 31%. Adjusted diluted EPS increased 11% year-over-year, reflecting higher share counts and tax rates partially offsetting earnings growth.

BlackRock also returned capital to shareholders, repurchasing $450 million in shares and raising its quarterly dividend by 10% to $5.73 per share.

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WS Investor 04-14-26

BlackRock, Inc. (NYSE: BLK) announced that it will report first quarter 2026 earnings prior to the opening of the market on Tuesday, April 14th, 2026

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European Investor 03-31-26

Deutsche Bank and BlackRock announced a partnership to integrate Deutsche Bank’s HausFX (FX-as-a-Service) technology with BlackRock’s Aladdin. The collaboration aims to deliver automated, transparent and cost-efficient foreign exchange solutions for institutional investors by embedding HausFX directly into Aladdin’s end-to-end investment workflows.

The integration is designed to help asset managers manage FX linked to cross-border securities more efficiently as settlement cycles shorten and regulatory complexity increases. Both firms said the partnership will reduce operational friction, improve control across the trade lifecycle and unlock cost efficiencies for shared clients, reinforcing their focus on technology-driven innovation in global capital markets.

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Global Finance News 02-09-26

BlackRock reported strong asset growth in 2025, ending the year with approximately $14 trillion in assets under management following a record $698 billion in net inflows, including $342 billion in the fourth quarter. Fourth-quarter diluted EPS came in at $7.16, or $13.16 on an adjusted basis, while full-year diluted EPS totaled $35.31, or $48.09 as adjusted. Organic base fee growth accelerated to an annualized 12% in the fourth quarter, reflecting broad-based strength across iShares ETFs, systematic active equities, private markets, outsourcing, and cash management. Full-year revenue increased 19%, supported by favorable markets, organic fee growth, contributions from the GIP and HPS transactions, and higher technology and subscription revenues. Although GAAP operating income and EPS declined due to non-cash acquisition-related expenses and a charitable contribution, adjusted operating income rose 18% year over year. BlackRock returned $5 billion to shareholders in 2025, raised its quarterly dividend by 10% to $5.73 per share, and authorized an additional 7 million shares for repurchase. CEO Larry Fink highlighted accelerating momentum, expanding private markets opportunities, and confidence in BlackRock’s long-term growth trajectory entering 2026.

Source: BlackRock, Full Year and Fourth Quarter 2025 Earnings Release

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Global Finance News 01-18-26

BlackRock, Inc. announced that it will report fourth quarter 2025 earnings prior to the opening of the NYSE on Thursday, January 15, 2026.

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European Investor 12-30-25

Blackrock multi asset income monthly commentary ...

(blackrock.com)

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The Investor 12-21-25

BlackRock, Inc. (NYSE:BLK) announced that its Board of Directors has declared a quarterly cash dividend of $5.21 per share of common stock, payable December 23, 2025 to shareholders of record at the close of business on December 5, 2025.

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Global Finance News 11-19-25

BlackRock Reduces Stake in Rentokil Initial to 9.93%

BlackRock, Inc. has slightly lowered its holding in Rentokil Initial plc (LSE: RTO) to 9.93%, according to a disclosure filed on October 27, 2025. The U.S.-based asset manager now controls 7.95% of voting rights through shares and 1.98% through financial instruments, totaling 251.5 million voting rights. The position includes exposure via American Depository Receipts, securities lending, and derivatives such as CFDs and equity-linked notes. This marks a modest decrease from the previous 10.04% stake reported earlier.

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The Investor 10-27-25

BlackRock Raises Stake in Rentokil Initial to Just Over 10%

BlackRock, Inc. has increased its total holding in Rentokil Initial PLC to 10.04%, according to a disclosure filed on October 23, 2025. The position comprises 8% of voting rights attached to shares and an additional 2.04% through financial instruments such as securities lending, CFDs, and equity-linked notes.

The U.S.-based asset manager now controls approximately 254.3 million voting rights in the UK pest control and hygiene services group, up from a previous total of 6.09%. The threshold crossing occurred on October 21, 2025, as part of routine portfolio adjustments.

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Global Finance News 10-26-25

09-02-26Global Finance News

01-16-26WS Investor

12-24-25WS News

S&P 500

Wall Street Falls as September Inflation Comes in Hotter Than Expected

U.S. stocks moved lower after September inflation data showed broader price pressures remained firmer than economists expected. The S&P 500 fell 0.76% to 7,745.85, while the Nasdaq dropped 0.99% to 26,934.31. The Dow Jones Industrial Average declined 0.14% to 51,597.18.

Headline CPI increased 0.6% month over month in September, matching expectations but accelerating from 0.4% in August. On a year-over-year basis, inflation rose to 3.7%, above the 3.6% consensus estimate and up from 3.4% previously.

More importantly for the Federal Reserve outlook, core inflation also came in hotter than expected. Core CPI rose 0.3% month over month versus the 0.2% forecast, while the annual core rate accelerated to 2.6% from 2.4%, also exceeding the 2.5% consensus estimate.

The combination of higher headline inflation and an upside surprise in core prices suggests underlying inflation pressures remain persistent. That could reduce expectations for near-term monetary easing or reinforce the case for keeping interest rates elevated for longer.

The Nasdaq’s larger decline is consistent with renewed rate concerns weighing more heavily on growth and technology stocks, while the relatively smaller move in the Dow suggests a more defensive market response.

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Global Finance News 10-14-26

Wall Street Trades Mixed as U.S. Housing Data Beats Expectations

U.S. stocks traded mixed Tuesday as investors digested stronger-than-expected housing data alongside another increase in weekly private-sector employment.

The S&P 500 slipped 0.07% to 7,801.82, while the Nasdaq Composite fell 0.11% to 27,217.00. The Dow Jones Industrial Average was slightly higher, gaining 0.04% to 51,868.87.

U.S. existing home sales increased to an annualized 3.99 million units in September, above expectations of 3.95 million and up from 3.93 million previously. On a monthly basis, sales rose 1.5%, significantly stronger than the expected 0.8% decline and reversing the previous month’s 3.2% drop.

Separately, ADP’s weekly employment measure showed private payrolls increasing by 24,800, up from 23,800 in the previous reading.

The data points to continued resilience in parts of the U.S. economy, particularly housing and employment. However, the relatively muted equity-market reaction suggests investors remain cautious about how stronger economic activity could influence the Federal Reserve’s interest-rate outlook.

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European Investor 10-13-26

U.S. Stocks Edge Higher as Brent Crude Holds Near $104

U.S. stocks opened modestly higher on Thursday, with the S&P 500 up 0.27% at 7,786.27, the Dow Jones Industrial Average gaining 0.28% to 51,375.78, and the Nasdaq rising 0.34% to 27,285.85.

Brent crude was trading at $103.89 per barrel, down 0.37% on the day, after moving between roughly $102.50 and $103.90 during the session. Oil remains at elevated levels despite the slight decline.

The combination of firm equity markets and Brent holding above $100 suggests investors are balancing resilient risk appetite against continued inflation concerns from high energy prices. Elevated crude can increase transportation and input costs across the economy, potentially keeping some pressure on headline inflation.

For equities, the near-term question is whether oil prices stabilize around current levels or resume their recent rise. A renewed move higher in crude could revive concerns over inflation and interest rates, while a pullback would provide some relief to broader market sentiment.

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Global Finance News 10-09-26

U.S. Stocks Mixed as Rising Oil Prices Revive Inflation Concerns

U.S. stocks traded mixed on Thursday as investors weighed resilient labor-market data against a sharp rise in oil prices that renewed concerns about inflation.

The S&P 500 fell 0.17% to 7,788.26 and the Nasdaq declined 0.43% to 27,421.53, while the Dow Jones edged up 0.08% to 51,219.42.

Initial jobless claims came in at 197,000, below the 200,000 consensus and down from 199,000 previously, suggesting layoffs remain relatively limited. Continuing claims, however, increased to 1.716 million from 1.699 million, slightly above expectations of 1.710 million, pointing to somewhat softer re-employment conditions.

Oil added another source of pressure. Brent crude surged about 4.6% to roughly $104.83 per barrel during the session. The sharp increase raised concerns that higher energy costs could feed back into headline inflation and transportation costs, potentially slowing the disinflation process.

The combination of firm initial claims and rising oil prices is not particularly supportive for aggressive Federal Reserve easing. Investors appear to be balancing continued economic resilience against the risk that renewed energy inflation could keep interest rates higher for longer, which is especially relevant for rate-sensitive technology and growth stocks.

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European Investor 10-08-26

Wall Street Turns Lower as Inflation Expectations Rise and 10-Year Treasury Yield Jumps

U.S. stocks moved lower Wednesday as investors reacted to higher consumer inflation expectations and a sharp increase in the yield at the latest 10-year Treasury note auction.

The S&P 500 fell 0.24% to 7,800.42, while the Dow Jones Industrial Average declined 0.59% to 51,219.02. The Nasdaq Composite was down 0.39% at 27,492.49.

The New York Fed’s one-year consumer inflation expectations rose to 3.9% in September, above both the 3.6% forecast and the previous reading of 3.6%. The increase suggests households are becoming more concerned about near-term price pressures, potentially complicating the Federal Reserve’s path toward easier monetary policy.

Pressure on markets was reinforced by the U.S. Treasury’s 10-year note auction, which cleared at a yield of 5.300%, sharply above the previous auction’s 4.834%. The higher yield points to materially higher borrowing costs and increases the discount rate applied to future corporate earnings, a particular headwind for growth-oriented equities.

The combination of rising inflation expectations and higher long-term Treasury yields appears to be weighing on risk sentiment, with investors reassessing the possibility that U.S. interest rates may remain elevated for longer than previously anticipated.

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Global Finance News 10-07-26

Wall Street Opens Higher as ADP Weekly Employment Growth Strengthens

U.S. stocks opened higher on Tuesday, with the S&P 500 rising 0.79% to 7,835.09, the Dow Jones Industrial Average gaining 0.75% to 51,652.43 and the Nasdaq advancing 0.77% to 27,687.76.

The positive start came alongside a firmer reading from ADP’s weekly employment estimate. U.S. private-sector employment increased by 23,800, up from 22,500 in the previous reading, suggesting that labor demand remains relatively resilient.

The data added to the latest evidence that the U.S. labor market is continuing to expand, even as investors assess whether employment conditions are cooling enough to influence the Federal Reserve’s policy outlook.

Equities moved broadly higher at the open, with gains across all three major indexes. Markets are now likely to remain sensitive to upcoming labor, inflation and economic-growth data as investors reassess the timing and pace of any future changes in U.S. interest rates.

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The Investor 10-06-26

U.S. Stocks Mostly Higher as Services Activity Remains Strong but Price Pressures Rise

U.S. stocks traded mostly higher on Monday as services-sector data continued to point to solid economic growth. The S&P 500 gained 0.43% to 7,755.84 and the Nasdaq rose 0.73% to 27,388.08, while the Dow Jones slipped 0.17% to 51,092.08.

The S&P Global Services PMI came in at 58.8 in September, slightly above the 58.7 consensus, while the Composite PMI held at 58.4. Both readings indicate robust expansion in U.S. private-sector activity.

The ISM Non-Manufacturing PMI was somewhat softer, declining to 54.9 from 55.4 and missing expectations of 55.1. However, the employment component improved to 50.1 from 47.8, moving back into expansion territory and signaling better hiring conditions within the services sector.

Inflation pressures were the main concern. The ISM Non-Manufacturing Prices Index climbed to 74.0 from 72.6, indicating that service-sector input costs remain elevated.

The market reaction suggests investors are balancing resilient economic growth against persistent inflation pressures. Strong activity is supportive for earnings expectations, particularly for growth stocks, but the rise in the prices index could limit expectations for aggressive Federal Reserve rate cuts.

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WS Investor 10-05-26

U.S. Stocks Rally as Weak Jobs Report Boosts Rate-Cut Expectations

U.S. stocks moved sharply higher on Friday after September employment data showed a much weaker labor market than expected, increasing expectations that the Federal Reserve could adopt a more accommodative policy stance.

Nonfarm payrolls rose by just 29,000 in September, far below the 89,000 consensus and down sharply from 133,000 previously. Private payrolls increased by 46,000, also missing the 85,000 forecast and slowing from 89,000.

The unemployment rate climbed to 4.2% from 4.1%, while average hourly earnings growth slowed to 3.0% year over year from 3.1%, below the 3.2% consensus. Together, the figures point to cooling labor demand and easing wage pressures.

Equity markets reacted positively. The S&P 500 rose 0.80%, the Dow gained 0.52%, and the Nasdaq climbed 1.24%, with technology stocks outperforming.

The market reaction suggests investors are focusing on the prospect that weaker employment conditions could reduce pressure on the Fed to keep policy restrictive. Softer wage growth also helps ease inflation concerns, creating a particularly supportive backdrop for growth and technology shares.

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WS News 10-02-26

U.S. Stocks Trade Mixed as Strong Jobless Claims Data Clash With Hot Manufacturing Prices

U.S. stocks traded mixed on Thursday as investors weighed resilient labor-market data against renewed inflation concerns from the manufacturing sector. The S&P 500 slipped 0.11% to 7,642.86, while the Dow Jones fell 0.35%. The Nasdaq was nearly flat, edging 0.05% higher.

Initial jobless claims fell to 197,000, below the 201,000 expected and down slightly from 198,000 previously. Continuing claims also declined to 1.701 million, better than the 1.730 million consensus and 1.712 million prior reading. The figures suggest layoffs remain limited and the labor market continues to show resilience.

Manufacturing activity remained firmly in expansion territory. The ISM Manufacturing PMI came in at 54.5 in September, just below the 54.8 forecast and roughly unchanged from 54.6 previously.

The more significant surprise came from prices. The ISM Manufacturing Prices Index jumped to 77.9 from 71.1, far above expectations of 72.9. The sharp increase points to stronger input-cost pressures and could revive concerns that inflation may remain sticky.

For equities, the data create a mixed backdrop: solid employment and manufacturing activity support the economic outlook, but the sharp rise in manufacturing prices may keep Treasury yields and interest-rate expectations elevated, helping explain the more cautious performance in the broader market.

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European Investor 10-01-26

U.S. Stocks Rise as Softer PCE Inflation Offsets Stronger Growth and Jobs Data

U.S. stocks moved higher on Wednesday as investors welcomed softer-than-expected inflation readings alongside signs that the economy remains resilient. The S&P 500 rose 0.52%, the Dow Jones was nearly flat with a 0.03% gain, while the Nasdaq climbed 0.94%, leading the major indexes.

The August PCE price index rose 3.4% year over year, below the 3.7% expected, while monthly inflation came in at 0.3% versus the 0.4% consensus. Core PCE was also softer than forecast, rising 3.0% annually compared with expectations of 3.3%, while the monthly increase of 0.2% was below the 0.3% estimate.

At the same time, economic activity remained firm. Second-quarter GDP growth was revised to 2.2%, above the 1.5% consensus and the previous 2.1% estimate. ADP private payrolls increased by 90,000 in September, beating expectations of 73,000 and accelerating sharply from 36,000 previously.

Manufacturing activity provided another upside surprise, with the Chicago PMI jumping to 58.8 in September from 47.1, well above the 51.2 forecast and moving firmly into expansion territory.

The market reaction reflects a favorable combination for equities: inflation came in cooler than feared while employment, GDP and business activity remained relatively strong. The softer PCE readings appear particularly supportive for technology and other growth stocks, helping explain the Nasdaq’s outperformance despite the stronger economic data.

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WS News 09-30-26

10-12-26WS News

10-08-26European Investor

10-07-26Global Finance News

10-05-26European Investor

NYSE:BAC

Bank of America Falls 7.6% as $1.2 Billion Regulatory Charge and Trading Weakness Overshadow Higher NII

Bank of America (NYSE: BAC) shares fell about 7.6% after the bank reported third-quarter 2026 net income of $6.9 billion, or $0.91 per diluted share, down from $8.3 billion, or $1.04 per share, a year earlier. Results included a $1.2 billion regulatory settlement charge that reduced EPS by $0.17. Excluding the charge, adjusted net income was $8.1 billion and adjusted EPS was $1.08.

Revenue increased 3% year over year to $30.0 billion, supported by stronger net interest income and asset management fees. Net interest income rose 8% to $16.4 billion, while net interest yield improved by 15 basis points to 2.16%.

However, capital-markets performance was softer. Investment banking fees declined, while sales and trading revenue fell 5% to $5.1 billion. FICC revenue dropped 17% to $2.6 billion, partially offset by an 11% increase in equities revenue to $2.5 billion.

Expenses also increased sharply because of the settlement. Noninterest expense rose $2.4 billion to $19.7 billion and the reported efficiency ratio deteriorated to 66%. Excluding the regulatory charge, adjusted expense was $18.5 billion and the adjusted efficiency ratio was 62%.

Elsewhere, the balance sheet remained healthy. Average deposits increased 2% to $2.02 trillion and average loans rose 6% to $1.23 trillion. Credit costs were relatively stable, with provision for credit losses of $1.3 billion and lower net charge-offs compared with both the prior year and previous quarter.

The 7.6% decline appears to reflect the combination of the sizeable regulatory settlement charge, weaker investment banking and fixed-income trading revenue, and higher reported expenses, which outweighed solid net interest income growth and strength in wealth management and equities.

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Global Finance News 10-14-26

Bank of America Retirement Strategy Surpasses $100 Billion in Assets

Bank of America said its Personal Retirement Strategy program has surpassed $100 billion in total assets, highlighting growing demand for personalized retirement planning and workplace investment solutions.

The program is designed for employees participating in institutional 401(k) plans and combines digital planning tools, personalized asset-allocation guidance and professional investment management. Merrill Managed, the discretionary managed-account component of the platform, has now exceeded $10 billion in assets under management.

Bank of America said the growth reflects stronger employee demand for personalized retirement guidance, while employers are increasingly using financial-wellness benefits to support retirement readiness. The company’s 2026 Workplace Benefits Report found that 70% of respondents identified retirement saving as their primary financial goal.

The platform also includes 401k Pay, a retirement-income tool that helps participants estimate sustainable withdrawals, model different scenarios and set up recurring payments after retirement.

The $100 billion milestone strengthens Bank of America’s position in the workplace retirement market and highlights the broader shift toward digitally delivered, personalized wealth-management services inside employer-sponsored retirement plans.

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WS Investor 10-01-26

Bank of America and Bradesco Complete First Cross-Border Real-Time Payments Pilot

Bank of America said Bradesco has completed the first pilot transaction using its new Cross-Border Real-Time Payments solution, marking an early step in the bank’s effort to speed up international payments without requiring clients to replace their existing infrastructure.

The transaction was initiated through Bradesco’s existing Swift connectivity and delivered in Hong Kong dollars to a local beneficiary through Hong Kong’s Faster Payment System.

Bank of America designed the solution for high-volume, low-value payments, with features including real-time tracking, full-principal delivery and greater payment certainty. The bank also plans to make the capability available through CashPro, its digital banking platform for corporate and institutional clients.

The pilot is intended to show that banks can connect established payment channels such as Swift with domestic real-time payment networks, potentially improving speed and transparency for international transfers.

Bank of America and Bradesco are also testing a separate U.S. payment route through Swift aimed at improving consumer and small-business cross-border payments.

The development reflects Bank of America’s broader push to modernize global payments infrastructure while allowing financial institutions to maintain existing workflows and connectivity.

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WS Investor 09-29-26

Bank of America Expands AskGPS With New AI-Powered Treasury Intelligence Tools

Bank of America is expanding its internal Ask Global Payments Solutions platform with a new Intelligence Hub designed to help employees turn complex treasury data into more actionable client insights.

The new capabilities build on AskGPS, the bank’s generative AI application introduced in 2025 and already used by nearly 3,000 employees. The Intelligence Hub will bring together client, account and relationship data to give teams a more complete view of customer needs and help them prepare for treasury discussions more efficiently.

The first three tools will include Intelligent Treasury Management Reviews, Digital Account Schematics and Enhanced Relationship Insights. Together, they will help employees consolidate account structures, visualize liquidity and fund flows, identify changes in client relationships and surface potential gaps or opportunities.

Bank of America said the broader goal is to move from simple knowledge access toward “decision-ready intelligence,” allowing employees to get from questions to insights more quickly while keeping human judgment at the center of client interactions.

The expansion underscores how large banks are increasingly using generative AI not just for information retrieval, but to combine proprietary data and workflow context into tools that can support front-line decision making.

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European Investor 09-28-26

Bank of America’s CashPro App Tops €100 Billion in European Payment Approvals

Bank of America said European companies approved more than €100 billion in payments through its CashPro App during the first seven months of 2026, highlighting the growing adoption of mobile treasury tools across the region.

Transaction volume through the app rose 25% from a year earlier, while the value of payments increased 21%. Bank of America said mobile access is becoming increasingly embedded in corporate treasury workflows, particularly for secure authentication and payment approvals.

The bank said 74% of CashPro users in Europe now choose its mobile token as their preferred authentication method. The system combines mobile authentication with biometrics, QR sign-in and push authentication, allowing corporate treasury teams to approve transactions from mobile devices.

Bank of America has also enhanced the app’s payment approval experience and is developing new digital identity verification capabilities for corporate administrators.

CashPro is used by more than 35,000 companies globally to manage payments, deposits, loans and trade transactions. The platform also incorporates AI-powered tools for transaction support, capital-markets analysis and cash-flow forecasting.

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The Investor 09-17-26

Merrill Launches New Services for Tax-Efficient Portfolio Transitions and Cash Investing

Bank of America’s Merrill has launched two new investment services designed to help wealth-management clients transition portfolios and deploy cash more systematically.

The Tax Efficient Transition Service allows investors holding appreciated securities to gradually move assets into managed strategies rather than selling and reinvesting everything at once. The approach is intended to help clients manage the realization of capital gains while moving toward their target portfolio allocation.

Merrill also introduced a Dollar Cost Averaging Service, which automatically invests cash into eligible managed strategies according to a client-selected schedule. The service is designed to reduce the impact of short-term market volatility and encourage disciplined investing rather than attempting to time the market.

Both services combine automation with professional portfolio oversight and are available through the Merrill Lynch Investment Advisory Program without additional program fees.

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The Investor 09-15-26

Bank of America to Invest $1.9 Billion in Jio Credit, Expanding Its Position in India’s Financial Market

Bank of America (NYSE: BAC) is making a major push into India’s rapidly expanding consumer and commercial lending market through a new joint venture with Jio Financial Services.

Bank of America and Jio Financial Services announced Wednesday that they have signed a definitive agreement under which the U.S. banking giant will acquire up to a 49.9% interest in Jio Credit Limited, Jio Financial’s non-bank lending subsidiary. The investment, including equity shares and warrants, is valued at ₹18,268 crore, or approximately $1.9 billion.

## Bank of America Targets India’s Lending Growth

The transaction combines Jio Financial’s extensive digital reach and knowledge of the Indian market with Bank of America’s global financial-services, technology and risk-management capabilities.

Jio Credit has expanded rapidly since beginning operations. The digital-first non-bank financial company had assets under management of ₹30,667 crore, approximately $3.2 billion, as of June 30, 2026, reaching that scale within just two years. Its lending portfolio includes mortgages, loans against securities, commercial lending and supply-chain finance.

For Bank of America, the deal provides direct exposure to one of the world's fastest-growing major economies without requiring the bank to build a large domestic lending platform independently.

CEO Brian Moynihan described India as one of the world's most important growth markets and highlighted Jio Financial's ability to build more than $3 billion in assets under management in only two years.

## Jio Builds a Powerful Financial Services Ecosystem

The partnership also strengthens Jio Financial’s broader strategy of developing a full-scale digital financial-services ecosystem in India.

Jio Financial already operates across lending, payments, insurance and investment services. It has a 50:50 asset-management and wealth-management partnership with BlackRock and separate 50:50 insurance joint ventures with Allianz.

Adding Bank of America as a major partner in lending further strengthens that ecosystem and provides Jio Credit with additional capital to expand its loan portfolio.

Under the agreement, Jio Credit’s board will have equal representation from Jio Financial Services and Bank of America. Existing management will continue operating the business, while Jio Credit will remain consolidated as a Jio Financial subsidiary.

## Strategic Move for Both Companies

The $1.9 billion transaction is significant for Bank of America because it represents a substantial long-term commitment to India's financial sector rather than simply an expansion of its existing institutional banking operations.

For Jio Financial, the partnership provides both capital and access to Bank of America’s expertise in governance, technology, financial services and risk management as it scales its lending operations.

The deal also adds another major global financial institution to Jio Financial’s growing network of strategic partners. With BlackRock in investments, Allianz in insurance and now Bank of America in lending, Jio Financial is increasingly positioning itself as a broad-based digital financial-services platform in India.

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WS Investor 08-12-26

Bank of America (BAC) Stock Rises After Strong Q2 Results Fueled by Investment Banking and Trading Growth

Bank of America (NYSE: BAC) shares gained around 1% on Tuesday after the lender reported strong second-quarter 2026 results, with double-digit earnings growth driven by higher net interest income, booming investment banking activity, and record trading revenue.

The bank posted net income of $9.1 billion, up 27% year over year, while diluted earnings per share climbed 34% to $1.21. Revenue rose 15% to $31.6 billion, supported by a 9% increase in net interest income to $16.0 billion, stronger sales and trading performance, higher asset management fees, and robust investment banking revenue.

Bank of America's capital markets businesses delivered particularly strong results during the quarter. Investment banking fees jumped 50% from a year earlier, while sales and trading revenue increased 33%. Equity trading revenue surged 70%, and fixed income, currencies, and commodities (FICC) trading revenue rose 9%, benefiting from elevated client activity and stronger market conditions.

Consumer banking also remained resilient. Combined credit and debit card spending increased 9%, average deposits reached $957 billion, and the bank added more than 160,000 net new consumer checking accounts during the quarter. Assets under management and consumer investment assets also continued to grow, reflecting healthy client engagement.

Chairman and CEO Brian Moynihan said the company delivered one of its strongest quarters to date, highlighting double-digit net income growth across every business segment. He noted that resilient consumers and businesses continued to spend, borrow, and invest, while investment banking pipelines remain strong and commercial borrowing has begun to improve.

The solid earnings report reinforced investor confidence in Bank of America's diversified business model, with strength across consumer banking, wealth management, investment banking, and trading helping offset a still uncertain macroeconomic environment. Investors will now watch whether capital markets activity and loan growth remain supportive through the second half of 2026.

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The Investor 07-14-26

Bank of America Slips Despite Truist Price Target Increase

Bank of America (NYSE: BAC) shares slipped 0.5% on Friday even as Truist Financial raised its price target on the banking giant to $64 from $61, while maintaining a *Buy* rating.

The higher target reflects Truist's confidence in Bank of America's earnings outlook, supported by its strong consumer banking franchise, improving net interest income prospects, and resilient capital position. The reaffirmed Buy rating signals the firm's expectation that the bank remains well-positioned to benefit from a favorable operating environment.

Although the stock ended Friday slightly lower, the analyst's price target increase underscores continued optimism about Bank of America's long-term growth potential. With the new target implying meaningful upside from current levels, Wall Street remains constructive on the bank's outlook despite recent market weakness.

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The Investor 06-27-26

Bank of America Corporation today announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.28 per share, payable on June 26, 2026 to shareholders of record as of June 5, 2026.

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Global Finance News 04-24-26

04-15-26European Investor

04-15-26WS News

02-07-26WS News

01-26-26WS News

01-22-26WS News

NASDAQ

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Global Finance News 10-14-26

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European Investor 10-13-26

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Global Finance News 10-09-26

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European Investor 10-08-26

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Global Finance News 10-07-26

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The Investor 10-06-26

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WS Investor 10-05-26

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WS News 10-02-26

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European Investor 10-01-26

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WS News 09-30-26

10-07-26Global Finance News

10-03-26WS News

09-28-26WS News

09-25-26Global Finance News

09-15-26The Investor

NYSE:STT

State Street Falls 6.4% Despite Strong Q3 Growth as Fee Revenue Slips Sequentially

State Street (NYSE: STT) shares fell about 6.4% after the company reported third-quarter 2026 EPS of $3.69, up 33% year over year, on total revenue of $4.0 billion, up 13%. Net income increased 27% to $1.09 billion, while pre-tax margin expanded to 34.6%.

Assets under custody and administration reached a record $59.2 trillion, up 15%, while assets under management rose 16% to a record $6.3 trillion. State Street also reported $429 billion of new servicing AUC/A wins and $68 million of new servicing fee revenue wins during the quarter.

Revenue growth was broad-based. Servicing fees rose 10% year over year, management fees increased 20%, FX trading services rose 17%, and securities finance increased 9%. Net interest income climbed 21%, supported by a 16-basis-point improvement in net interest margin.

However, there were some softer sequential trends. Total fee revenue declined 2% from the second quarter, while total revenue fell 1% quarter over quarter. FX trading services also declined sequentially despite remaining higher year over year.

Expenses increased 8% year over year, reflecting higher compensation, technology spending and other strategic investments. Information systems and communications expense rose 15%, while compensation and employee benefits increased 8%.

Capital remained solid, with a CET1 ratio of 11.0%. State Street returned $651 million to shareholders during the quarter, including $400 million of share repurchases and $251 million of dividends.

The 6.4% decline appears to reflect investor concern over the sequential decline in fee revenue and total revenue, together with continued expense growth, despite strong year-over-year earnings growth, record AUC/A and AUM, and improved profitability.

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Global Finance News 10-14-26

State Street Expands MyIncome ETF Suite as Assets Surpass $1 Billion

State Street Investment Management expanded its MyIncome ETF lineup with three new actively managed target-maturity bond ETFs, extending the range across corporate, high-yield and municipal bond exposures.

The new funds are the State Street My2036 Corporate Bond ETF (MYCP), State Street My2032 High Yield Corporate Bond ETF (MYHF) and State Street My2032 Municipal Bond ETF (MYML). The products are designed to help investors build customized bond ladders while managing cash flow, interest-rate exposure and liquidity needs.

The expansion comes as assets in the MyIncome ETF suite surpassed $1 billion. State Street said the suite had $1.16 billion in assets under management as of August 31, 2026.

State Street launched the MyIncome suite in 2024 as the first actively managed corporate and municipal target-maturity bond ETFs in the U.S. market. The firm later added high-yield exposure, and the latest launches extend the maturity range available to investors.

The funds are actively managed with the goal of enhancing income while controlling liquidity, issuer concentration and broader macro risks. They are designed to distribute remaining principal and liquidate around December 15 of their target maturity year.

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The Investor 09-23-26

State Street Corporation announced plans to launch a tokenized fund servicing capability from Luxembourg by the end of 2026, expanding its digital asset infrastructure.

The new service, built on the firm’s Digital Asset Platform, will enable the issuance, administration, and custody of tokenized funds while integrating them with traditional fund structures under a unified operating model. State Street Investment Management is expected to be an early adopter.

The company said Luxembourg was chosen due to its supportive regulatory framework for digital assets, with the initiative aimed at combining traditional and digital fund operations within a consistent governance and risk framework.

Source: State Street press release, Business Wire

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The Investor 04-28-26

State Street Corporation reported a strong start to 2026, posting first-quarter earnings per share of $2.49, or $2.84 excluding notable items, alongside record revenue performance driven by broad-based growth across its businesses. Total revenue rose 16% year-over-year to $3.8 billion, supported by a 15% increase in fee revenue and a 17% rise in net interest income, while net income climbed 19% to $764 million.

The company highlighted significant expansion in its core asset base, with assets under custody and administration (AUC/A) increasing 17% to $54.5 trillion and assets under management (AUM) rising 20% to $5.6 trillion, largely reflecting favorable market conditions and net inflows. Operational momentum was also evident in new business wins, including $56 million in servicing fee revenue and $365 billion in new AUC/A mandates during the quarter.

Growth was broad across segments, with management fees up 23%, foreign exchange trading revenue rising 29%, and servicing fees increasing 11%. The firm also reported record FX trading volumes and continued gains in ETF inflows and software-related revenues. Despite a 15% increase in expenses—partly due to restructuring and investment costs—State Street maintained solid profitability, delivering a pre-tax margin of 25.5% and positive operating leverage.

CEO Ron O’Hanley emphasized the company’s resilience and diversified model, noting that continued strategic execution and client-focused operations drove the strong quarterly performance, while acknowledging ongoing macroeconomic and geopolitical uncertainties.

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European Investor 04-18-26

State Street announced it will support Dimensional Fund Advisors’ rollout of ETF share classes for U.S. mutual funds, marking the first implementation of this structure under new SEC rules.

Dimensional becomes the first U.S. asset manager to introduce ETF share classes within actively managed mutual funds, a development expected to enhance tax efficiency and reduce costs for investors.

State Street will provide full-service support, including custody, fund accounting, ETF operations, and reporting, leveraging its global ETF servicing capabilities to enable the launch.
Business Wire

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WS Investor 03-23-26

State Street Corporation (NYSE: STT) is going to announce its first-quarter 2026 financial results on Friday, April 17, 2026 at 7:30 a.m. ET. A conference call will be held at 11:00 a.m. ET.

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Global Finance News 03-19-26

State Street Investment Management launched the State Street IG Public & Private ABS ETF (PRAB), an actively managed exchange-traded fund designed to give investors broader exposure to investment-grade asset-backed securities across both public and private markets.

The fund invests in securities such as collateralized loan obligations (CLOs) and residential and commercial mortgage-backed securities, aiming to provide diversified income opportunities and potentially higher yields compared with corporate bonds of similar risk.

State Street said the ETF responds to growing investor demand for access to the global asset-backed finance market, which exceeds $20 trillion but remains underrepresented in traditional bond portfolios.
Business Wire

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The Investor 03-11-26

State Street Investment Management has expanded its MyIncome ETF lineup with the launch of five actively managed high yield corporate bond target maturity ETFs, adding to what it calls the industry’s first actively managed corporate target maturity ETF suite.

The new funds — My2027 (MYHA), My2028 (MYHB), My2029 (MYHC), My2030 (MYHD) and My2031 (MYHE) High Yield Corporate Bond ETFs — provide exposure to high yield bonds with matching maturity years from 2027 through 2031. The ETFs are designed to help investors build bond ladders that manage interest rate risk while offering predictable income and liquidity.

Managed by the firm’s fixed income team, the funds aim to maximize yield while preserving capital and managing liquidity, sector and issuer concentration risks. Each ETF is structured to distribute remaining principal and liquidate around December 15 of its respective maturity year. As of January 31, 2026, assets under management in the MyIncome suite totaled $298 million.

Source:Business Wire

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Global Finance News 02-28-26

State Street Corporation (NYSE:STT) announced a quarterly cash dividend of $0.84 per share of common stock, payable on April 13, 2026 to common shareholders of record at the close of business on April 1, 2026.

Additionally, State Street Corporation announced a cash dividend on its Common Stock and Non-Cumulative Perpetual Preferred Stock Series “G,” “I,” “J,” and “K”

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Global Finance News 02-21-26

State Street Corporation announced that Mariner will implement Charles River’s Wealth Management Solution to streamline operations and support its expansion to **5,000 advisors**, up from more than 2,080 today.

The platform, developed by Charles River Development, will centralize portfolio management, trading, custodial data integration, and enterprise data management. The goal is to improve efficiency, reduce operational complexity, and create a scalable technology foundation without disrupting advisor or client experience.

Mariner, which advises on over **$632 billion** in assets, said the partnership supports its long-term growth strategy and modernization efforts.

As of December 31, 2025, State Street reported **$53.8 trillion** in assets under custody and/or administration and **$5.7 trillion** in assets under management.

Source: Business Wire

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European Investor 02-12-26

NASDAQ:FAST

Fastenal Rises 1% as Q3 Daily Sales Jump 15.5% and Operating Margin Expands

Fastenal (NASDAQ: FAST) shares rose about 1% after the company reported strong third-quarter 2026 operating performance, highlighted by double-digit sales growth and improved profitability.

Daily sales increased 15.5% year over year, driven primarily by market share gains with larger customers, pricing actions and broad-based demand across the company’s core end markets.

Profitability also strengthened. Operating margin increased to 21.5%, up 90 basis points from a year earlier, as leverage in selling, general and administrative expenses more than offset gross-margin pressure related to customer mix.

Cash generation remained solid, with operating cash flow of $422 million, equivalent to 105% of net income. The company said working-capital movements reflected the timing effects associated with strong sales growth.

Fastenal returned $328 million to shareholders through dividends and share repurchases during the quarter, representing about 82% of net income.

The company also cited progress across key strategic initiatives, including new key-account wins, broader adoption of digital technologies and deeper customer penetration through new onsite locations.

The 1% gain in Fastenal shares appears to reflect the combination of strong sales momentum, operating-margin expansion and healthy cash conversion, supporting confidence in continued execution despite some pressure on gross margins from customer mix.

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Global Finance News 10-14-26

Fastenal Company announced that CEO Daniel L. Florness will step down from his role on July 16, 2026, following nearly 30 years with the company and a decade as CEO. The board has appointed current President and Chief Sales Officer Jeffery M. Watts to succeed Florness as CEO on that date, as part of a succession plan initiated in 2024. Florness will remain as a strategic advisor until early 2028 to support a smooth leadership transition.

Source: Business Wire, December 22, 2025

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Global Finance News 12-22-25

Fastenal Enters Sponsorship Agreement With Belfast Giants in Northern Ireland

Fastenal Company announced that it has entered into a sponsorship agreement with the Belfast Giants, the only professional ice hockey team on the island of Ireland, to strengthen its brand presence in Northern Ireland. The partnership marks Fastenal’s first sponsorship in the U.K.’s Elite Ice Hockey League and builds on the company’s long-standing role as an official partner of the National Hockey League in North America.

The sponsorship aligns with Fastenal’s growing footprint in Northern Ireland, where the company has operated since 2012. Fastenal said the partnership reflects its commitment to the local community, mirroring the Belfast Giants’ focus on grassroots initiatives, school programs, and charitable projects. Company executives highlighted the importance of representing Belfast and supporting the region’s continued growth.

Representatives from The Odyssey Trust, which manages the Belfast Giants, said the partnership underscores the club’s ambitions and brings Fastenal’s established support of professional ice hockey to Belfast. The agreement is intended to enhance Fastenal’s brand visibility during the 2025–2026 EIHL season, which runs through April 2026.

Source: Business Wire, Fastenal Company

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WS Investor 12-20-25

Fastenal Forms Corporate Partnership with National FFA Organization

Fastenal Company announced a new corporate partnership with the National FFA Organization, expanding its long-standing support for agricultural education and youth development. The sponsorship places Fastenal senior executive vice president Casey Miller on the National FFA Sponsors' Board and increases the company’s presence at the annual FFA Convention and Expo.

The partnership will fund local chapter and state grants, five Fastenal Innovators college scholarships, and contributions to the FFA’s ‘Give the Gift of Blue’ program, which provides iconic blue jackets to members. Fastenal CEO Dan Florness, a former FFA participant, emphasized the organization’s impact on developing future leaders across agriculture, science, and engineering.

Fastenal operates roughly 1,600 branches in 25 countries and supplies a wide range of industrial and safety products to manufacturing, construction, government, and other sectors.

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Global Finance News 12-07-25

Fastenal Reports Strong November Daily Sales Growth Despite Fewer Business Days

Fastenal posted November 2025 net sales of $627.5 million, up 6.2% from a year earlier, despite having one fewer business day. Daily sales rose 11.8% year over year, driven by broad-based strength across geographies and end markets. U.S. daily sales increased 11.9%, while Canada/Mexico grew 7.8% and Rest of World surged 27.7%.

Manufacturing demand remained robust, with heavy and other manufacturing daily sales each rising about 13%. Fasteners led product-line growth at 14.6%, followed by 11.9% in the “Other” category and 8.1% in Safety. Growth was supported by improved performance across customer channels, including 13% daily sales growth from contract customers and 17% growth in Fastenal Managed Inventory.

Company headcount rose 3.5% from last year to 21,701 FTEs, reflecting ongoing capacity expansion. The next monthly sales update and earnings release are scheduled for January 19, 2026.

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WS Investor 12-05-25

Fastenal Reports Double-Digit Sales and Profit Growth in Q3 2025

Fastenal Company posted strong third-quarter results, with net sales rising 11.7% year-over-year to $2.13 billion and net income up 12.6% to $335.5 million. Earnings per share increased to $0.29 from $0.26, reflecting solid growth across customer contracts and key manufacturing markets. Gross margin improved to 45.3% as product pricing and customer signings boosted performance, while operating income rose 13.7%. Operating cash flow jumped 30% to $386.9 million, supported by lower tax payments and working capital gains. Fastenal also raised investments in distribution, FMI hardware, and IT, and returned $252.5 million in dividends during the quarter.

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Global Finance News 10-13-25

Earnings season is here …

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WS News 10-12-25

Fastenal reported August 2025 net sales of $696.7 million, up 6.7% year-over-year. Daily sales rose 11.8% to $33.2 million despite one fewer business day. Growth was broad-based, with fasteners up 13.3%, safety products up 10.2%, and other products up 11.5%. Heavy and other manufacturing led end markets, while non-residential construction rebounded 11.5%. Contract customers drove gains (+14%), supported by 9% eBusiness growth and a 17% rise in managed inventory. Headcount increased 3.7% to 24,283. Results highlight solid demand across regions, led by 17.6% growth in Rest of World sales.

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WS Investor 09-06-25

Fastenal Reports Strong Q2 2025 Results Driven by Contract Sales and Non-Fastener Growth

Fastenal Company (Nasdaq: FAST) reported second-quarter 2025 earnings showing solid growth across revenue and profit metrics. Net sales rose 8.6% year-over-year to $2.08 billion, while net income increased 12.8% to $330.3 million. Diluted EPS was $0.29, up from $0.25 a year earlier, with all figures adjusted for the recent 2-for-1 stock split.

The company benefited from increased customer contract signings, especially in the manufacturing sector, and higher unit sales. Gross margin held steady at 45.3%, while operating income rose 12.7% to $436.1 million.

Product-wise, non-fastener lines outperformed fasteners, with safety supplies growing 10.7% and other product lines up 9.0%. End markets in manufacturing drove growth (up 9.2%), with notable recovery in non-residential construction (up 3.0% after 10 quarters of decline).
Contract customers drove performance with 11.0% sales growth versus just 2.6% growth in non-contract sales.

Despite sluggish industrial production, Fastenal’s scale, strong customer relationships, and pricing strategies supported robust quarterly results.

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European Investor 07-14-25

Fastenal Company (Nasdaq:FAST) announced the date and time for its conference call to review 2025 second quarter results, as well as current operations. The conference call will be broadcast live over the Internet on Monday, July 14, 2025 at 9:00 a.m. central time.

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WS Investor 06-27-25

03-03-26Global Finance News

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