The Finance Class

Business and stocks, explained in simple words.

Author: Rohan Tamang

  • AI Is Helping Meta Sell More Ads — While Google Search Growth Slows to 12%

    AI Is Helping Meta Sell More Ads — While Google Search Growth Slows to 12%

    Introduction

    Two of the biggest advertising companies in the world just reported very different quarters. Meta’s advertising business is growing fast, helped by artificial intelligence. Google’s search business is still growing, but more slowly — and AI is part of the reason.

    What Happened

    Meta reported $63.1 billion in advertising revenue for the third quarter of 2026, up 26% from a year earlier. Total company revenue was $64.6 billion, also up 26%. The number of ads people saw rose 10%, and the average price of an ad rose 14%.

    Alphabet, Google’s parent company, reported $127.6 billion in total revenue, up 25%. But Google Search and other revenue grew 12% to $63.35 billion. That is solid growth in normal terms, yet it is clearly slower than Meta’s advertising growth — and slower than Google’s own search growth in recent quarters.

    Key figures

    • Meta advertising revenue: $63.1 billion, up 26%
    • Meta ad impressions: up 10%; average ad price: up 14%
    • Meta total revenue: $64.6 billion, up 26%
    • Google Search and other revenue: $63.35 billion, up 12%
    • Alphabet total revenue: $127.6 billion, up 25%
    • Google Cloud revenue: $30.71 billion, up 103%

    Why It Happened

    Meta says AI is making its ads work better. When ads are shown to people who are more likely to be interested, advertisers are willing to pay more, and more of those ads lead to a sale or a sign-up. Meta also pointed to more user engagement across Facebook, Instagram and its other apps.

    Google’s story is more mixed. Alphabet said search query growth was the fastest in five years, helped by AI. But more questions do not automatically mean more advertising money. Google’s chief business officer said AI Mode searches — where an AI answer appears instead of a simple list of links — currently bring in less advertising revenue than a traditional search. Foreign exchange was also the largest single factor in the slowdown, the company said.

    In plain terms: people are searching more, but the new kind of search is harder to turn into ad money, at least for now.

    Why It Matters

    Advertising pays for most of what these companies offer for free. If Meta can keep improving ad performance with AI, it has a strong engine for profit, even while it spends heavily on AI data centres. Meta guided fourth-quarter revenue to between $73 billion and $76 billion.

    For Google, the question is different. Search is still a huge business — $63.35 billion in one quarter is enormous. But investors are watching closely: can Google make AI search pay as well as old-fashioned search did? Google only started showing ads alongside AI Mode searches worldwide on October 29, so that part of the story is just beginning.

    What Happens Next

    Watch two things. First, whether Meta’s ad prices keep rising without scaring advertisers away. Second, whether Google’s AI Mode advertising starts to close the gap between fast query growth and slower revenue growth. The next earnings reports will give a clearer answer.

    Final Thoughts

    AI is not helping every big tech company in the same way. Right now, it is boosting Meta’s core business directly. For Google, AI is bringing more users and more questions, but the money side is still catching up. That difference explains a lot about how these two giants are being judged today.

    Related: Why Google Stock Crashed 12.6%: What Investors Need to Know

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: CNBC, https://www.cnbc.com/2026/11/01/ai-meta-ads-google-search.html ; Meta Q3 2026 results as reported by Exchange4Media, https://www.exchange4media.com/digital-news/metas-ad-revenue-jumps-26-to-631-billion-as-ai-boosts-conversions-ad-prices-159351.html ; Alphabet Q3 2026 results as reported by NeoTeo, https://www.neoteo.com/en/alphabets-q3-2026-results-search-and-cloud-grow-free-cash-flow-is-negative

  • How the Stock Market Actually Works (Explained Simply)

    How the Stock Market Actually Works (Explained Simply)

    Introduction

    The stock market sounds complicated. People on TV shout about indexes, traders stare at flashing charts, and prices jump up and down for reasons nobody explains. But the basic idea is simple. The stock market is a place where people buy and sell small pieces of companies. Once you understand that, most of the rest falls into place.

    What It Is

    A share of stock is a small piece of ownership in a company. When you buy one share of a company, you own a tiny fraction of that business — a claim on a small part of its profits and assets.

    Companies sell shares to raise money. Instead of borrowing from a bank, a company can sell pieces of itself to the public. It does this for the first time through an initial public offering, or IPO. The money raised goes to the company, which can use it to build factories, hire people or develop new products.

    After the IPO, shares trade between investors on a stock exchange, such as the New York Stock Exchange (NYSE) or Nasdaq. When you buy a share today, you are usually buying it from another investor, not from the company itself. The company does not get money from those later trades.

    How It Works

    Prices in the stock market are set by supply and demand. If more people want to buy a share than sell it, the price goes up. If more people want to sell than buy, the price goes down.

    What changes people’s minds? Mostly news and expectations. Strong earnings can push a price up. A weak forecast can push it down. Interest rates, the wider economy and even the mood of the market all play a part. That is why prices move every day, sometimes for reasons that look small from the outside.

    You cannot buy shares by calling the exchange directly. You buy through a broker — usually an online brokerage account. You place an order, the broker matches it with a seller, and the shares land in your account.

    An index is simply a list of stocks grouped by a rule, used to measure the market. The S&P 500 tracks 500 large American companies. When people say “the market was up 1% today,” they usually mean an index like the S&P 500.

    An Example With Numbers

    Imagine a company called Bright Foods. Its shares trade at $50 each. You buy 10 shares. That costs you $500, plus any small broker fee.

    A year later, Bright Foods is doing well. Its profits are up, and more investors want in. The share price rises to $65. Your 10 shares are now worth $650. If you sell, you make $150 before fees and taxes.

    But it can go the other way. If Bright Foods struggles and the price falls to $40, your shares are worth $400. You have lost $100 on paper. The loss only becomes real if you sell. This is why patience matters: prices bounce around, and selling during a dip locks in the loss.

    Some companies also pay dividends — a slice of their profits, paid to shareholders. If Bright Foods pays $2 per share each year, your 10 shares earn you $20 a year for as long as you hold them and the company keeps paying.

    Common Mistakes

    First, putting everything into one stock. If that company stumbles, your whole investment stumbles with it. Spreading money across many companies — diversification — lowers that risk.

    Second, panic selling. Markets fall regularly. Selling everything during a bad week often means selling at the worst moment.

    Third, trying to time the market. Guessing the exact best day to buy or sell sounds smart, but even professionals get it wrong most of the time. Regular, long-term investing usually beats jumping in and out.

    Fourth, confusing a low price with a bargain. A $5 share is not automatically cheap, and a $500 share is not automatically expensive. What matters is what the company is worth compared with its price.

    Final Thoughts

    The stock market is not a casino, and it is not a secret club. It is a system for owning pieces of real businesses and sharing in their profits — with real risks attached. Prices will rise and fall, and markets can fall sharply at times. The investors who tend to do best are usually the ones who understand what they own, spread their risk, and give their investments time.

    If you are just starting out, you do not need to pick the next big winner. Understanding the basics — shares, supply and demand, dividends and diversification — puts you ahead of most people already.

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: Investopedia, “What Is the Stock Market?” explainer; U.S. Securities and Exchange Commission investor education materials.

  • AI Law Firm Crosby Bids for Weil Gotshal’s Brand and Data as the 95-Year-Old Firm Winds Down

    AI Law Firm Crosby Bids for Weil Gotshal’s Brand and Data as the 95-Year-Old Firm Winds Down

    Introduction

    A 95-year-old Wall Street law firm is preparing to vote itself out of existence. And a two-year-old law firm built around artificial intelligence wants to buy its name.

    Weil, Gotshal & Manges, known as Weil Gotshal, is one of America’s most famous law firms. Now its management committee has recommended an orderly wind-down, and AI-first law firm Crosby has submitted a bid for its trademark, brand and some of its internal data.

    What Happened

    On October 28, Weil’s management committee recommended to its partners that the firm pursue an orderly wind-down. The partners are expected to vote on the plan in the coming days.

    Then, on October 29, Crosby submitted a letter of intent to buy parts of Weil: its trademark, its brand name and some unspecified internal data. The bid was first reported by The Information and then by TechCrunch. The financial terms have not been disclosed, and there is no guarantee Weil’s partners will accept the offer.

    Crosby is also trying to hire some of Weil’s roughly 1,200 lawyers. That recruiting effort is separate from the bid for the brand and data.

    Key Figures

    • Weil Gotshal founded: 1931, making it 95 years old
    • Lawyers: around 1,200
    • Annual revenue: more than $2 billion last year
    • Partners who left in 2026: more than 30
    • Crosby launched: 2025, as an AI-first law firm
    • Crosby funding raised: about $85 million, including a $60 million Series B round in March led by Lux and Index

    Why It Happened

    Weil’s problems built up over months. More than 30 partners left during 2026, including corporate chair Michael Aiello, who moved to rival firm Cravath. Merger talks with Willkie Farr & Gallagher collapsed in late October. And Ramona Nee, the partner who had been expected to take over as the firm’s leader, declined the top job.

    With its leadership uncertain, its rainmakers leaving and no merger to save it, the management committee concluded there was no workable path forward. The firm has hired restructuring adviser AlixPartners and law firm Davis Polk to advise on the wind-down. Staff have been told they will be paid for 90 days and will receive bonuses at the end of 2026.

    Why It Matters

    It is tempting to read this as a story about AI killing a law firm. The reporting does not support that. Weil’s troubles came from partner departures, failed merger talks and leadership uncertainty — not from AI.

    What the Crosby bid does show is how AI companies now see value in old institutions. A brand built over 95 years, a client list and decades of internal data are assets a young company cannot build overnight. Buying them could be faster than building them.

    There are also big unanswered questions. What exactly is included in “internal data”? Does it touch client material? Those details have not been reported, and they will matter a lot if the bid moves forward.

    What Happens Next

    First comes the dissolution vote by Weil’s partners. If they approve the wind-down, the firm will spend the coming months finishing client work and closing down in an orderly way.

    Then comes the decision on Crosby’s bid — and whether any other buyers emerge. Crosby may end up with the brand, the lawyers, both or neither.

    Final Thoughts

    Weil Gotshal worked on some of the biggest cases in American business history, from Lehman Brothers to General Motors and Enron. Its possible end is a reminder that no reputation, however old, protects a firm that loses its people and its leadership plan.

    And the bidder tells its own story. The company trying to buy a piece of Weil is two years old and runs on AI. Whatever happens next, that contrast says a lot about where the legal industry is heading.

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: TechCrunch report on Crosby’s bid, as summarised by AI Weekly (https://aiweekly.co/alerts/ai-law-firm-crosby-bids-for-weil-gotshals-brand-and-data); The Global Legal Post on Weil’s wind-down vote (https://www.globallegalpost.com/news/weil-partnership-set-to-vote-on-closure-plan-1230207207)

  • Virgin Media O2 Plans to Cut Up to 4,000 Jobs as Its £22 Billion Debt Pile Forces a Restructuring

    Virgin Media O2 Plans to Cut Up to 4,000 Jobs as Its £22 Billion Debt Pile Forces a Restructuring

    Introduction

    Virgin Media O2, the UK company behind the Virgin Media broadband network and the O2 mobile brand, is planning to cut thousands of jobs. Sky News reported on Saturday, October 31, that up to 4,000 roles could go. That is about a quarter of the company’s entire workforce.

    The company has not confirmed a number. It declined to comment on the report. But the story matters because of its size: 4,000 jobs at one of Britain’s biggest telecom companies, driven by a debt pile of £22 billion.

    What Happened

    According to the Sky News report, which was carried by Reuters, most of the cuts would fall on roles that do not deal directly with customers. Some senior leadership changes are already underway. The company is also expected to review how much it spends on outside contractors and suppliers.

    The exact number of job losses has not been finalised. Reports say the final figure is still moving around, and the company is expected to set out its cost-saving plan in financial terms when it reports third-quarter results on Tuesday, November 3, rather than announcing a specific headcount number.

    Virgin Media O2 employs around 16,000 people. It is jointly owned by Liberty Global and Spain’s Telefonica.

    Key Figures

    • Employees: around 16,000
    • Jobs reportedly at risk: up to 4,000, or about 25% of staff
    • Debt: about £22 billion (around $29.46 billion)
    • Cost savings sought by owners: about £600 million
    • Owners: Liberty Global and Telefonica
    • Third-quarter results: Tuesday, November 3

    Why It Happened

    The cuts are about debt. Virgin Media O2 owes about £22 billion, and its owners have been pushing for a plan to bring costs down. The Financial Times reported in July that the owners were weighing options to reduce the debt pile, and in September that shareholders were seeking around £600 million of cost savings.

    When a company carries that much debt, a large share of its cash goes on interest payments. Cutting jobs and supplier spending is one of the fastest ways to free up cash. The other options — selling assets or raising new money — take longer and can be harder when investors are already nervous. Reports say the company’s bonds have been under pressure this year.

    Why It Matters

    For the workers involved, this is a worrying weekend. Most of the affected roles are expected to be office and support jobs rather than shop or call-centre staff, but 4,000 roles is still a huge number for one company.

    For customers, the company says nothing about service changes yet. The risk to watch is investment: if cost-cutting goes too far, broadband upgrades and network improvements can slow down. That is why the November 3 results matter. They should show whether this is a one-off round of cuts or the start of a longer squeeze.

    What Happens Next

    All eyes are on Tuesday’s third-quarter results. That is when the company is expected to confirm the size of its cost-saving plan. The headcount number may still not be given, but the financial target will tell us how deep the cuts will go.

    If the plan is confirmed, the next questions are which teams are affected, over what timescale, and whether contractors and suppliers face cuts too.

    Final Thoughts

    This is a story about debt catching up with a big company. Virgin Media O2 is not going bust — it is a large, working business with millions of customers. But £22 billion of debt leaves little room for error, and its owners have decided that cutting costs, including thousands of jobs, is the way to create that room.

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: Sky News report on Virgin Media O2 job cuts, as carried by Reuters (https://www.globalbankingandfinance.com/virgin-media-o2-cut-thousands-jobs-sky-news-reports/); Telecompaper (https://www.telecompaper.com/news/virgin-media-o2-plans-to-cut-up-to-4000-jobs-report–1587426)

  • Coinbase Made $719 Million in Profit — but Almost All of It Came From Crypto Gains

    Coinbase Made $719 Million in Profit — but Almost All of It Came From Crypto Gains

    Coinbase, America’s biggest listed crypto exchange, reported a $719 million profit for the third quarter of 2026. That sounds like a great quarter — until you look one line deeper. Almost all of that profit, $715 million, came from gains on crypto the company itself holds as an investment. Strip those gains out, and the core business earned just $78 million. That difference is the real story of Coinbase’s quarter.

    What Happened

    Coinbase reported third-quarter results on 29 October 2026, for the three months ended 30 September 2026. Headline net income was $719 million, reversing two consecutive quarterly losses and up from $433 million a year earlier. Earnings per share came in at $2.51, compared with expectations of a loss, according to company coverage.

    Under accounting rules Coinbase adopted, Bitcoin and Ether it holds on its own balance sheet are marked to market every quarter — if their prices rise, the gain flows straight into reported profit, even if Coinbase did not sell anything. Coinbase started with $718.7 million of net income, backed out a $715 million gain on crypto held for investment and a $39.2 million gain on other investments, then added back tax effects to land at $77.7 million of adjusted net income, rounded to $78 million. In plain terms: about 99% of headline profit was a paper gain on crypto Coinbase already owned, not fees collected from customers.

    Why It Happened

    The quarter itself was softer for crypto trading. Total revenue was $1.22 billion, flat from the previous quarter but 35% below the same period last year, as overall crypto market spot trading volume fell about 10%. Transaction revenue — fees from people trading — was $590 million. Subscription and services revenue grew 3% from the previous quarter to $570 million, making up 49% of net revenue, including stablecoin revenue up 5% to $307 million and other services less dependent on daily trading.

    Average USDC held in Coinbase products reached $22 billion, another all-time high and the fourteenth consecutive quarter of records, up 49% from a year ago. Coinbase’s share of global crypto trading volume reached 10.7%, its fourth consecutive quarterly gain. Prediction markets passed $200 million in annualised revenue, becoming one of the fastest-growing products in the company’s history, and Coinbase One subscribers hit an all-time high, up 24% year over year. Adjusted EBITDA was $333 million, up 60% from the previous quarter and the company’s fifteenth consecutive quarter of positive adjusted EBITDA, down from $801 million a year ago — a genuine sign of operating discipline.

    Why It Matters

    A big headline profit does not always mean the underlying business had a big quarter; sometimes assets a company holds simply went up in price. For Coinbase, the shift toward subscriptions, stablecoins and prediction markets matters more long-term than one quarter’s paper gain, because those revenues are steadier than trading fees. Timing also matters: just days after these results, crypto stocks sold off sharply following the Binance hack, with Coinbase among the fallers — about industry confidence, not Coinbase’s own results — showing how quickly sentiment can change in crypto.

    What Happens Next

    Coinbase gave an early look at the current quarter: transaction revenue through 25 October 2026 was approximately $165 million, and it guided subscription and services revenue to $550 million to $630 million for the fourth quarter. Investors will watch whether trading activity recovers after the Binance shock, whether USDC balances keep growing, and whether prediction markets continue fast growth. They will also watch the same accounting effect in reverse: if crypto prices fall in the fourth quarter, paper gains could turn into paper losses and drag headline profit down even if the operating business is steady.

    Final Thoughts

    Coinbase did not have a bad quarter — it made money, grew market share, and kept steadier businesses growing — but calling it a $719 million success story without the footnote would be misleading. The honest version: Coinbase’s core business earned $78 million, operating profit improved a lot from the previous quarter, and a $715 million rise in the value of crypto it holds did most of the work on the headline number. Understanding that difference separates reading a headline from understanding a company.

    Key figures:

    • Net income: $719 million (Q3 2026)
    • Gain on crypto held for investment: $715 million
    • Adjusted net income: $78 million
    • Adjusted EBITDA: $333 million, up 60% quarter over quarter
    • Total revenue: $1.22 billion, flat quarter over quarter, down 35% year over year
    • Subscription and services revenue: $570 million (49% of net revenue)
    • Average USDC held: $22 billion, up 49% year over year
    • Global trading market share: 10.7%

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: Coinbase Q3 2026 earnings announcement (October 29, 2026); Motley Fool earnings coverage and call transcript (October 29-30, 2026).

  • Kalshi Is Now Worth $40 Billion After Another $1 Billion Funding Round

    Kalshi Is Now Worth $40 Billion After Another $1 Billion Funding Round

    A company built around betting on future events is now worth $40 billion. Prediction-market operator Kalshi announced on Thursday, October 29, 2026 that it raised $1 billion in a new funding round valuing it at $40 billion — nearly 82% higher than its $22 billion valuation just five months ago. It is one of the fastest rises in private-market value in recent years, and it says a lot about how mainstream prediction markets have become.

    What Happened

    The new round, Kalshi’s Series G, was co-led by Sequoia Capital and Wellington Management, with Tiger Global Management and Dragoneer Investment Group also taking part, according to Reuters. It is Kalshi’s second $1 billion raise in roughly five months. The previous round, in May 2026, was led by Coatue and valued the company at $22 billion. Kalshi was valued at about $5 billion in October 2025 and about $11 billion last December. In about a year, its private valuation has grown roughly eightfold.

    Kalshi said it will use the money to expand its exchange, reach more users around the world, and launch new products including indices, single-stock perpetual futures and markets for trading computing power. It also recently announced a partnership with S&P Dow Jones Indices to build indices based on prediction markets, and partnerships with the NBA.

    What Is a Prediction Market, Anyway?

    Instead of buying a stock, you buy a contract tied to a future event — for example, whether a team wins a championship, whether an election goes a certain way, or whether an economic number comes in above or below a forecast. The price works like a probability: a contract trading at 60 cents that pays out $1 if the event happens effectively implies about a 60% chance. As news changes, the price moves.

    Kalshi runs a federally regulated exchange in the United States, started with sports and election contracts, and is now pushing hard into financial markets — the same territory as traditional exchanges like CME and ICE.

    Why It Happened

    First, trading volume. Kalshi says its overall annualised trading volume now passes $1 trillion, and its non-sports markets alone now generate more than $1 billion in annualised revenue, according to The Wall Street Journal as cited by CoinTelegraph. Data provider DefiLlama put its trading volume over the past 30 days at about $15.8 billion.

    Second, the calendar: a busy year including the 2026 FIFA World Cup, the NFL season and trading around the US midterm elections has brought in new users.

    Third, expansion: in September 2026, Kalshi entered the perpetual futures market after approval from the Commodity Futures Trading Commission (CFTC). Perpetual futures let traders bet on price moves without an expiry date and are popular in crypto and financial trading; adding single-stock versions would put Kalshi in direct competition with much bigger, older exchanges.

    Why It Matters

    A $40 billion valuation puts Kalshi in the same league as Coinbase, a public company around far longer, showing how far prediction markets have come. But a private valuation is not a stock price: it is set by a small number of investors in a funding round, not by millions of traders daily, and reflects what those investors think Kalshi could become, not proven profits.

    There are legal risks too. On October 28, 2026, Utah’s Attorney General filed criminal charges against Kalshi and its co-founders, Tarek Mansour and Luana Lopes Lara, accusing the company of promoting illegal online gambling and allowing an undercover agent to place sports wagers through its platform. The outcome was still pending, and similar legal fights over sports contracts have followed Kalshi in other states.

    What Happens Next

    Watch whether new products — single-stock perps, leveraged event contracts and compute markets — actually attract traders or stretch Kalshi too far, and how regulators and courts treat prediction markets that look increasingly like financial exchanges and, in some cases, like sports betting. If Kalshi keeps growing its non-sports business and stays on the right side of regulators, a public listing could eventually follow, though none has been announced. If legal challenges pile up, growth could slow no matter how strong trading numbers look.

    Final Thoughts

    Kalshi’s rise from a $5 billion startup to a $40 billion company in about a year is remarkable, even by startup standards, and shows investors believe betting on events — done openly, on a regulated exchange — is becoming a normal part of finance. But a valuation can rise much faster than a business can prove itself; the next chapter will be decided less by fundraising headlines and more by whether real traders keep showing up and whether the law lets them.

    Key figures:

    • New funding: $1 billion (Series G, October 29, 2026)
    • New valuation: $40 billion, up about 82% from $22 billion in May 2026
    • Previous valuation: about $5 billion in October 2025, about $11 billion in December 2025
    • Co-leads: Sequoia Capital and Wellington Management
    • Non-sports annualised revenue: more than $1 billion
    • Overall annualised trading volume: more than $1 trillion

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: Reuters report on Kalshi’s funding round (October 29, 2026); CoinTelegraph and PYMNTS coverage of the announcement (October 29, 2026).

  • Apple and Palantir Report Monday in a Huge Week for Stocks, Elections and Jobs

    Apple and Palantir Report Monday in a Huge Week for Stocks, Elections and Jobs

    After a brutal week for tech stocks, the next five days could decide whether the sell-off continues or starts to calm down. Apple and Palantir report earnings on Monday, Americans vote in midterm elections on Tuesday, and the October jobs report arrives on Friday. In between, more than 100 big companies report results.

    Here is what to watch, day by day, in plain terms.

    What Happened Last Week

    On Friday, October 30, 2026, the Nasdaq fell 2.86% to 25,437.00, its worst day since June. The S&P 500 fell 1.82% to 7,580.07 and the Dow dropped 1.09% to 51,770.31. For the full week, the S&P 500 lost 0.58%, the Nasdaq fell 2% and the Dow gave up 0.85%.

    The main trigger was earnings: Amazon and Intel disappointed investors, Alphabet had already fallen sharply, and worries about how much tech companies are spending on AI spread across the whole sector. The semiconductor ETF SOXX dropped 9.1% on Friday alone.

    CNBC host Jim Cramer summed up the mood on Friday: “After a brutal week for tech, don’t assume the worst is behind us.” He pointed to the election, uncertainty overseas, the jobs report and another wave of earnings as reasons to stay careful.

    Monday, November 2: Apple and Palantir

    Apple reports after the market closes on Monday, the biggest name of the week. Analysts expect earnings of about $1.98 per share on revenue of about $113.3 billion, up roughly 11% from a year ago. iPhone revenue alone is expected to be around $56.5 billion, about half of total sales. Apple shares recently hit an all-time high, helped by enthusiasm for its latest products, and the stock trades at almost 40 times earnings, so there is very little room for disappointment.

    Palantir also reports Monday after the close. Analysts expect earnings of about $0.41 per share on revenue of about $2.18 billion, up more than 80% from a year ago. Cramer said he expects encouraging results, citing strong customer feedback about Palantir’s AI software. Other companies reporting Monday include Marriott, Vertex and ON Semiconductor.

    Tuesday, November 3: Elections and AMD

    Americans vote in midterm elections, with 35 Senate seats on the ballot, and AMD reports earnings after the close. AMD is expected to report revenue of about $13.1 billion and earnings of about $1.94 per share, up sharply from a year ago. As a chipmaker selling into the AI boom, its results will be read as a signal for the whole semiconductor sector, especially after Intel’s weak forecast rattled chip stocks last week. Other Tuesday names include Arista, Block, Booking Holdings, Shopify and Pfizer, plus a job openings report.

    Wednesday to Friday: A Packed Finish

    Wednesday, November 4 is the busiest earnings day, with Qualcomm, Uber, McDonald’s, Datadog, Arm, AppLovin and DoorDash among the names reporting, plus private payrolls and services data. Thursday, November 5 brings Atlassian, Cloudflare, Airbnb, ConocoPhillips and Cigna, plus weekly jobless claims and a speech from Cleveland Fed President Beth Hammack.

    Friday, November 6 is the finale: the October jobs report from the Bureau of Labor Statistics at 8:30 a.m. Eastern, shaping expectations for the Federal Reserve’s December decision on interest rates. Moderna and Humana also report Friday. Context from CNBC’s weekly outlook: S&P 500 companies are beating earnings expectations by only 1.4% on average this season, well below the five-year average beat of 7.5%.

    Why It Matters

    There are three kinds of risk in five days — earnings risk (Apple, Palantir and AMD have to prove AI spending is paying off), political risk (midterm results could change what policies are possible in Washington), and economic risk (the jobs report could move interest-rate expectations, affecting everything from mortgages to stock valuations). The practical point is simple: expect big moves in either direction and do not read too much into any single day.

    What Happens Next

    If Apple and Palantir both beat expectations and the jobs report comes in steady, the tech sell-off could start to ease. If Apple disappoints, or jobs data surprises in either direction, volatility is likely to continue. By Friday evening, much more will be known about whether the biggest tech companies can still grow into their high valuations, whether voters changed the political picture, and whether the US job market is still holding up.

    Final Thoughts

    Weeks like this are why investing feels stressful. Focus on actual numbers — revenue, earnings and jobs — rather than noise. By Friday, those numbers will tell a clearer story than any single prediction today.

    Key figures:

    • Apple (Monday): expected EPS about $1.98, revenue about $113.3 billion
    • Palantir (Monday): expected EPS about $0.41, revenue about $2.18 billion
    • AMD (Tuesday): expected EPS about $1.94, revenue about $13.1 billion
    • Friday, October 30: Nasdaq -2.86%, S&P 500 -1.82%, Dow -1.09%
    • Friday jobs report: October employment data, 8:30 a.m. Eastern, November 6

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: CNBC week-ahead outlook as reported by TradingView News (November 1, 2026) and FXEmpire; company earnings expectations via Fiscal.ai data as reported by TradingView.

  • Binance Reopens Withdrawals After $6.3 Billion Hack as FBI Blames North Korea

    Binance Reopens Withdrawals After $6.3 Billion Hack as FBI Blames North Korea

    Binance, the world’s largest crypto exchange, has started letting customers withdraw their money again — just days after hackers stole about $6.3 billion in the biggest crypto theft ever recorded.

    Withdrawals reopened in stages on Sunday, November 1, and at the same time the FBI publicly blamed North Korea for the attack. It is a fast-moving story with two very different parts: customers getting access to their funds again, and investigators pointing the finger at a state-backed hacking group.

    This is a follow-up development to the October 31 post about Bitcoin falling after the hack — new facts here are the reopening of withdrawals and the FBI attribution, not a repeat of the October 31 price story. Related reading: Bitcoin fell below $77,000

    What Happened

    Binance froze withdrawals after the hack on Thursday, October 29. On Sunday, it began reopening them in phases, starting with 15 cryptoassets including Bitcoin, Ethereum, XRP, Dogecoin, Tether (USDT) and USD Coin (USDC). Bitcoin withdrawals resumed first, shortly after 2 p.m. Singapore time, and other networks including Ethereum, BNB Smart Chain, XRP and Base followed later in the day.

    Binance warned users to expect congestion and delays, which is normal when a lot of people try to move money at once after a freeze. It said it was prioritising tokens based on user demand over the past week.

    The exchange also said it has now covered most of the loss itself. On Saturday it said about 90% of the stolen amount had been replaced, and later updates put the covered amount at about $6 billion, or roughly 95% of the $6.3 billion total. The remaining, less liquid tokens may take longer to buy back. Binance has said repeatedly that users will not bear the financial impact, and it set aside about $6.34 billion of company funds to cover the losses, using its emergency reserves, insurance funds and treasury money.

    Within roughly three hours of withdrawals reopening, about $2 billion in Bitcoin, Ether and stablecoins left the exchange, according to crypto tracker Whale Alert. That does not mean more money was stolen — it mostly means customers moving their own funds out after days of being unable to touch them.

    Why It Happened

    The FBI said on Saturday that North Korea was responsible for the theft of more than $6 billion in virtual assets from Binance on or about October 29. Specifically, it named a group called TraderTraitor, which it describes as a North Korean state-sponsored hacking unit and part of the wider Lazarus Group.

    According to the FBI, TraderTraitor actors have been converting the stolen assets mainly into Ether, and investigators expect them to keep laundering the money through decentralised finance platforms and instant swap services. The FBI published hundreds of addresses it says held or once held the stolen funds — more than 600 Ethereum addresses, just under 20 Bitcoin addresses and one Solana address — and asked crypto businesses, node operators and exchanges to block transactions from them.

    Chainalysis, a blockchain analysis firm, warned that the attackers are likely to use tens of thousands of addresses in the coming weeks, which makes blocking them much harder in practice.

    There is one wrinkle worth noting honestly. When President Donald Trump was asked about the hack on Saturday, he said the US was still learning about it and added: “We don’t know if it’s North Korea — but if it is, we’ll talk to North Korea about it.” So the FBI’s attribution is clear, but the political message has been more cautious.

    Why It Matters

    First, this is about trust. Binance is the biggest exchange in crypto, and a $6.3 billion theft shakes confidence in the whole industry — even for people who never used Binance. How fast customers get their money back, and whether Binance really covers the full loss, will shape that trust for months.

    Second, the FBI naming North Korea matters for how the rest of the industry responds. When law enforcement publishes hacker addresses and asks exchanges to block them, it puts pressure on every platform to cooperate. It also shows how crypto theft has become a national security issue, not just a company problem. North Korea-linked groups were already blamed for more than $2 billion of crypto hack losses in 2025, according to industry data cited by CoinTelegraph.

    Third, the scale is hard to overstate. Analysts have described this as possibly the biggest financial robbery ever, bigger than the $1.5 billion Bybit hack in February 2025. The bulk of the theft unfolded in around 20 minutes late on Thursday, according to blockchain firms TRM Labs and Chainalysis.

    What Happens Next

    Binance is due to publish proof of reserves on Monday, November 2. That is a public snapshot meant to show that customer funds are fully backed. After a hack this size, that report will be watched closely — and skeptics will want to see details, not just a headline.

    Withdrawals will continue to reopen in phases, and more money is likely to leave the exchange in the short term as nervous customers move funds elsewhere. That is not necessarily a sign of failure. After a freeze, outflows are expected.

    The longer investigation — tracking the stolen funds through swaps and decentralised platforms, and whether any of it can actually be recovered — will take weeks or months. About $3 billion in affected assets had been frozen as of Friday, but frozen funds are not the same as recovered funds.

    Final Thoughts

    For ordinary crypto users, the lesson from this week is blunt: even the biggest exchange can be hit, and “big” does not mean “safe.” Binance moving fast to reopen withdrawals and cover losses helps, but it does not erase the fact that $6.3 billion was taken in the first place.

    The FBI attribution adds a serious geopolitical layer to what started as a company security failure. Whether it leads to real consequences for the hackers is a different question — and one that will take a lot longer to answer than a weekend of reopened withdrawals.

    Key figures:

    • Amount stolen: about $6.3 billion (October 29, 2026)
    • Covered by Binance: about 90% on Saturday, later put at about $6 billion (roughly 95%)
    • Company funds set aside: about $6.34 billion
    • Withdrawals reopened: Sunday, November 1, in phases, starting with 15 cryptoassets
    • Outflows in first ~3 hours: about $2 billion, per Whale Alert

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: Reuters report on Binance resuming withdrawals (November 1, 2026); CoinDesk report on the FBI’s North Korea attribution (October 31, 2026); Binance statements as reported by Reuters and CoinDesk.

  • South Korea’s Exports Nearly Doubled in October as AI Chip Demand Soared

    South Korea’s Exports Nearly Doubled in October as AI Chip Demand Soared

    South Korea just posted one of the biggest export jumps in its history, and the reason is simple: the world cannot get enough AI chips.

    Exports rose 93.7% in October compared with a year earlier, reaching $115.28 billion, according to government data reported by Reuters on Sunday, November 1. That was slightly above what economists had expected, and it was the strongest growth since January 1974 — more than 50 years ago.

    What Happened

    The headline number is huge, but the detail underneath it is even more striking. Sales of semiconductors — the chips that power computers, phones and AI data centres — jumped 259.4% to $56.44 billion. That means chips alone made up almost half of everything South Korea sold abroad in October.

    Computer sales, mainly servers and storage drives used for AI services, spiked 496.6%. Electrical equipment, including transformers, wires and cables used to build data centres, also hit a monthly record.

    For the first ten months of the year, South Korea’s exports totalled $930 billion. Trade Minister Kim Jung-kwan said it is now almost certain that annual exports will pass $1 trillion within November. If that happens, South Korea would become only the fourth country ever to reach that mark, after the United States, China and Germany.

    Why It Happened

    This is not a mystery. Big tech companies around the world are spending heavily to build AI data centres, and those data centres need enormous amounts of memory chips. South Korea is home to two of the world’s biggest memory makers, Samsung Electronics and SK Hynix, so it sits right at the centre of that spending.

    The trade ministry said chip exports stayed above $50 billion for a second month because global tech firms kept investing to lead in AI, keeping both prices and sales volumes high. South Korea’s economy already grew faster than expected in the third quarter on strong semiconductor exports, and October shows that trend is still going.

    There is one important caveat, though. Part of the jump comes from the calendar. Last year, the Chuseok harvest holiday fell in October, which meant fewer working days. This year it fell in September, so October 2026 had more working days. Adjusted for that, average daily exports still rose about 76% — still extraordinary, just not quite as extreme as the headline 93.7% suggests.

    Why It Matters

    Think of South Korea’s trade numbers as a health check for the global tech industry. When companies are really building AI systems, they buy chips, servers and power equipment. When they slow down, those orders are usually the first thing to fade.

    Right now, the orders are not fading. That matters for investors who have been worried in recent weeks about whether AI spending is getting out of control. The spending is real, at least on the hardware side: factories are shipping products, and customers are paying for them.

    It also matters beyond tech. Exports to China rose 134% to $27 billion and exports to the United States rose 186% to $24.9 billion, with the ministry singling out AI-related goods in both cases. In other words, the AI boom is not just an American story. It is moving goods, money and factory work across Asia and around the world.

    Related reading: AI spending worries

    What Happens Next

    The next question is whether this pace can last. October was the second-biggest export month on record, behind September’s $121.1 billion, so the level is already very high. If AI investment keeps growing, chip demand should stay strong. If tech companies start cutting their data-centre budgets — the fear that hit tech stocks hard last week — South Korea’s export numbers would be one of the first places to show it.

    For now, though, the message from Seoul is clear: the AI build-out is not just talk and stock prices. It is showing up in ports, factories and trade data.

    Final Thoughts

    A 93.7% jump in exports sounds almost too big to be real, and the holiday calendar does flatter it a little. But even after adjusting for that, this was a remarkable month. When a country that makes the world’s memory chips nearly doubles its exports, it tells you something simple: AI is still being built, fast, and someone has to supply the parts.

    Key figures:

    • Total October exports: $115.28 billion, up 93.7% year over year
    • Semiconductor exports: $56.44 billion, up 259.4%
    • Computer exports: up 496.6%
    • January–October exports: $930 billion
    • Strongest export growth since January 1974

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: Reuters report on South Korea’s October exports (via syndication, November 1, 2026); South Korea Ministry of Trade, Industry and Resources figures as reported by Reuters.

  • Top Analysts Are Bullish on These 3 Stocks for the Long Haul: Datadog, Nvidia and SpaceX

    Top Analysts Are Bullish on These 3 Stocks for the Long Haul: Datadog, Nvidia and SpaceX

    Introduction

    After a brutal week for tech stocks, it is easy to focus only on what fell. But some of Wall Street’s best-rated analysts are still backing three well-known names for the long term: Datadog, Nvidia and SpaceX. Their picks come from a CNBC report based on TipRanks, a platform that ranks analysts by how well their past calls performed.

    Analyst picks are opinions, not guarantees. Still, looking at why professionals like a stock can help everyday investors understand a business better. Here is each pick, in plain language.

    Datadog: Riding the AI Software Wave

    Datadog is a software company that helps businesses monitor their apps and computer systems. Think of it as a health tracker for a company’s technology: it watches for problems, flags them early, and helps fix them before customers notice. Demand is growing because companies are moving more work to the cloud and building AI tools that need constant monitoring.

    Bank of America analyst Koji Ikeda has reiterated a buy rating on Datadog and raised his price target to $335 from $305. He called Datadog one of his top picks, saying companies that can show AI is helping their growth could see their stock prices recover even at high valuations. He also thinks the market is underestimating Datadog’s security products.

    Datadog reports third-quarter results on November 4, so investors will not wait long for a test. Ikeda estimates revenue growth of 28.7% for the quarter, slightly below the Street’s consensus of 29.1%. He did flag one risk: the company depends on some very large customers, and losing one would hurt.

    Ikeda ranks No. 673 among more than 12,500 analysts tracked by TipRanks. His ratings have been successful 55% of the time, with an average return of 10.9%.

    Nvidia: Still the Top Pick in Chips

    Nvidia needs little introduction. Its chips power most of the world’s AI systems, and demand is still outrunning supply. After attending Nvidia’s GTC conference in Berlin, Morgan Stanley analyst Joseph Moore reaffirmed a buy rating with a price target of $300, calling Nvidia his top pick among chip stocks.

    Moore said the conference backed his view that Nvidia is handling its supply-chain bottlenecks well. He described land, power, computer shells and funding as challenges that Nvidia is turning into opportunities, saying he is “convinced that all 3 aspects are opportunities for NVDA.” He also noted that Vera Rubin, Nvidia’s next chip platform, is gaining momentum, although details on next year’s Rubin Ultra were lighter than expected.

    The biggest supply challenge, in Moore’s view, remains TSMC’s 3-nanometer chip wafers, but he expects that constraint to ease over time. With demand still above supply, the focus is on closing the gap through deals on substrates, packaging and testing.

    Moore ranks No. 142 among more than 12,500 analysts tracked by TipRanks. His ratings have been profitable 59% of the time, delivering an average return of 23.4%.

    SpaceX: A Surprising Earnings Beat

    SpaceX is the most surprising name on the list. The aerospace company recently reported strong third-quarter results, with total revenue up 161% from a year earlier. Its AI revenue surged to $7.56 billion, up from $813 million in the same quarter last year, a jump of 195.2% from the previous quarter, helped by wholesale computing deals.

    Needham analyst Ryan Koontz reiterated a buy rating on SpaceX stock with a price target of $250. He said the results beat expectations by a wide margin and showed that the company’s vertically integrated model, building most things itself rather than buying them in, is driving massive scale.

    The Connectivity business, which sells internet service through satellites, grew revenue 69.5% and generated $2.37 billion in operating income, with subscribers rising to 13.6 million. Koontz also pointed to management’s plan to add 10 gigawatts of computing capacity during 2027, and said growing confidence in reusing its Starship rockets led him to raise his estimates.

    Koontz ranks No. 357 among more than 12,500 analysts tracked by TipRanks. His ratings have been profitable 42% of the time, delivering an average return of 23.7%.

    Why It Matters

    StockAnalystRating and targetWhy they like it
    DatadogKoji Ikeda, Bank of AmericaBuy, $335 (raised from $305)AI driving demand for monitoring software; security growth underestimated
    NvidiaJoseph Moore, Morgan StanleyBuy, $300AI chip demand outpacing supply; Rubin platform gaining momentum
    SpaceXRyan Koontz, NeedhamBuy, $250Revenue up 161%; AI revenue surging; satellite internet scaling fast

    These three picks share a theme: analysts are betting that AI spending, for all the recent market fear about it, is still creating real revenue for the companies best placed to serve it. That is the opposite of the panic that drove last week’s sell-off, and it is a useful counterweight for investors trying to think long term.

    What Happens Next

    Datadog’s earnings on November 4 are the nearest test. If growth comes in near Ikeda’s estimate, the bull case holds. A miss would give the skeptics fresh ammunition. For Nvidia, the story runs into 2027, when the Rubin platform rolls out more fully and supply constraints are expected to ease. For SpaceX, investors will watch whether the AI revenue surge continues and whether the planned capacity expansion stays on schedule.

    Final Thoughts

    It is worth remembering what these ratings are and are not. A buy rating is one analyst’s judgment, and even the best analysts on this list are right only a little more than half the time. The value of a list like this is not a shopping list of stocks to buy blindly. It is a starting point for research: three businesses, three reasons professionals still believe in them, and three sets of numbers you can check for yourself as results come in.

    Related reading: JPMorgan Turns Bullish on Palantir With a $262 Target Ahead of Earnings

    Disclaimer: This article is for educational and informational purposes only and does not constitute financial advice.

    Sources: CNBC’s report on top analysts’ long-term stock picks, based on TipRanks data (November 1, 2026), as syndicated by FXNEWS24; TipRanks analyst rankings cited in that report.

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