Today: 11 November 2025
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Mateusz Kaczmarek

A technology and finance expert writing for TS2.tech. He analyzes developments in satellites, telecommunications, and artificial intelligence, with a focus on their impact on global markets. Author of industry reports and market commentary, often cited in tech and business media. Passionate about innovation and the digital economy.

Strive Asset Management (ASST) prices upsized 12% preferred stock IPO to raise ~$160M; fresh Semler (SMLR) merger filing lands — Nov. 6, 2025

Strive Asset Management (ASST) prices upsized 12% preferred stock IPO to raise ~$160M; fresh Semler (SMLR) merger filing lands — Nov. 6, 2025

Strive, Inc. (Nasdaq: ASST)—the parent of Strive Asset Management, LLC—priced an upsized initial public offering of its Variable Rate Series A Perpetual Preferred Stock (“SATA Stock”) at $80 per share, expanding the deal to 2,000,000 shares for ~$160 million in expected gross proceeds. Settlement is slated for Monday, November 10, 2025, pending customary closing conditions. The preferred carries an initial 12% annual dividend, paid monthly beginning December 15, 2025, with a $100 stated amount and a framework that allows Strive to adjust the rate within defined limits. Barclays and Cantor are joint bookrunners, with Clear Street as co‑manager. Proceeds may
6 November 2025
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Vistra (VST) Q3 2025: $652M Profit, 2026 EBITDA Outlook Raised to $6.8–$7.6B; Board Adds $1B Buyback

Vistra (VST) Q3 2025: $652M Profit, 2026 EBITDA Outlook Raised to $6.8–$7.6B; Board Adds $1B Buyback

What Vistra reported today Vistra posted third‑quarter 2025 GAAP net income of $652 million and Ongoing Operations Adjusted EBITDA of $1.581 billion. Management said the year‑over‑year decline in GAAP profit primarily reflects lower unrealized mark‑to‑market gains on hedging positions and the Martin Lake Unit 1 outage, partially offset by recognition of nuclear production tax credit revenue and firmer capacity prices. PR Newswire Top line performance came in at $4.97 billion, about 21% lower than the prior year’s quarter. Investors Guidance: a bigger 2026, tighter 2025 On the call and in media briefings, Vistra linked the stronger 2026 outlook to expanding
6 November 2025
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BIYA Soars Over 100% on November 6, 2025: Baiya International’s Volatile Rally, Massive Volume, and What to Watch Ahead of 25‑for‑1 Share Consolidation Vote

BIYA Soars Over 100% on November 6, 2025: Baiya International’s Volatile Rally, Massive Volume, and What to Watch Ahead of 25‑for‑1 Share Consolidation Vote

What happened today (Nov. 6, 2025) Bottom line: It’s a trader‑driven move fueled by momentum, volume, and attention on micro‑cap gainers; no new company‑specific press release or SEC filing hit the tape this morning to explain the surge. (We checked the company newsroom and latest SEC updates; the most recent dated items precede today’s session.) baiyainc.com+1 Why BIYA is in focus this month Share consolidation vote (Nov. 28):Baiya filed a Form 6‑K on Oct. 23, 2025 announcing an EGM on Nov. 28. Shareholders will vote on consolidating every 25 Class A ordinary shares into one share (subject to Nasdaq approval)
6 November 2025
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Stagwell (STGW) Soars After Q3 Beat and Palantir AI Partnership; 2025 Outlook Calls for ~8% Net Revenue Growth (Nov. 6, 2025)

Stagwell (STGW) Soars After Q3 Beat and Palantir AI Partnership; 2025 Outlook Calls for ~8% Net Revenue Growth (Nov. 6, 2025)

What’s new today Earnings: Stagwell Inc. (NASDAQ: STGW) reported third‑quarter revenue of $743 million, GAAP EPS of $0.09, and adjusted EPS of $0.24. Management highlighted double‑digit “ex‑advocacy” momentum, with net revenue ex‑advocacy up 10% to $578 million, and adjusted EBITDA of $115 million (19% margin on net revenue). The company also pointed to $122 million in net new business for the quarter and a $100 million year‑to‑date improvement in operating cash flow versus last year. PR Newswire Independent wire coverage from the Associated Press echoed the headline figures and noted the full‑year adjusted EPS range of $0.75–$0.88. Times Union Street
6 November 2025
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Iovance Biotherapeutics (IOVA) Q3 2025: Revenue Climbs ~13% to ~$68M; Gross Margin Hits 43%, Guidance Reaffirmed — November 6, 2025

Iovance Biotherapeutics (IOVA) Q3 2025: Revenue Climbs ~13% to ~$68M; Gross Margin Hits 43%, Guidance Reaffirmed — November 6, 2025

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) reported third‑quarter 2025 results this morning (Nov. 6), highlighting sequential revenue growth, materially higher gross margins, and steady commercial momentum for its tumor‑infiltrating lymphocyte (TIL) therapy Amtagvi. Management also reaffirmed full‑year revenue guidance and flagged pipeline milestones led by encouraging lung‑cancer data for lifileucel. GlobeNewswire What Iovance announced (Nov. 6, 2025) Revenue, margin, and guidance. Total product revenue grew to ~$68M in Q3 (Amtagvi ~$58M; Proleukin ~$10M). Gross margin expanded to 43% on improved execution and early cost‑savings. Management reaffirmed $250–$300M in 2025 revenue. GlobeNewswire Earnings snapshot. An AP/Automated Insights brief noted a net loss
6 November 2025
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Novavax (NVAX) Raises 2025 Revenue Outlook After Q3 Beat; Sanofi Milestones Drive Guidance — November 6, 2025

Novavax (NVAX) Raises 2025 Revenue Outlook After Q3 Beat; Sanofi Milestones Drive Guidance — November 6, 2025

What happened today Novavax, Inc. (NASDAQ: NVAX) reported Q3 2025 results and raised its full‑year adjusted revenue framework to $1.04–$1.06 billion (from $1.00–$1.05 billion). Management cited momentum from licensing, supply, and milestone revenue—while excluding Sanofi‑led sales and royalties from the outlook. The company also reaffirmed 2025 operating‑expense guidance. ir.novavax.com Revenue for the quarter came in at $70 million, above Wall Street expectations, while the GAAP net loss widened to $202 million year‑over‑year, reflecting $126 million in non‑cash charges, including $97 million related to a previously announced Maryland facility consolidation. Reuters On a per‑share basis, Novavax posted a GAAP loss of
6 November 2025
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Fortinet (FTNT) slips on soft Q4 outlook after Q3 beat; price targets trimmed as company unveils “Secure AI Data Center” — Nov. 6, 2025

Fortinet (FTNT) slips on soft Q4 outlook after Q3 beat; price targets trimmed as company unveils “Secure AI Data Center” — Nov. 6, 2025

Earnings snapshot: strong quarter, but guidance cools sentiment What happened: Fortinet’s September‑quarter (Q3 FY25) revenue rose ~14% to ~$1.72B with adjusted EPS at $0.74 (vs. ~$0.63 expected). Billings—a forward demand proxy—also climbed ~14% to ~$1.81B. After the report, investors focused on the softer Q4 guide, which ran a touch below consensus and drove the shares lower in late trading. Investors Profitability: Management cited a record Q3 non‑GAAP operating margin of ~36.9% (GAAP operating margin also a third‑quarter record, per the release). That efficiency was a bright spot despite the cautious near‑term revenue view. Investing.com+1 Q4 & FY25 outlook: Fortinet now
6 November 2025
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AppLovin (APP) soars ~7% after blowout Q3 2025: revenue up 68%, buyback boosted by $3.2B, and Wedbush lifts price target to $800

AppLovin (APP) soars ~7% after blowout Q3 2025: revenue up 68%, buyback boosted by $3.2B, and Wedbush lifts price target to $800

AppLovin Corporation (NASDAQ: APP) is rallying today after reporting another set of blockbuster results and raising its buyback firepower. Shares were up roughly 7%–8% in Thursday trading as investors digested the company’s stronger‑than‑expected Q3 print and upbeat Q4 outlook, while sell‑side analysts raised targets. Barron’s+1 Key takeaways What happened in Q3 (ended Sept. 30, 2025) AppLovin’s top and bottom lines accelerated again in Q3: Management also highlighted $1.05B in operating cash flow and free cash flow during the quarter, underpinned by continued scale in its software and AI solutions for advertisers. Q4 Investor Relations Capital returns: buyback gets much bigger
6 November 2025
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DoorDash (DASH) plunges as 2026 spending plan eclipses Q3 beat — What to know today (Nov 6, 2025)

DoorDash (DASH) plunges as 2026 spending plan eclipses Q3 beat — What to know today (Nov 6, 2025)

DoorDash, Inc. (NASDAQ: DASH) is under pressure today after the delivery platform beat Q3 revenue and order-growth expectations but told investors it will spend “several hundred million dollars more” in 2026 to accelerate a new global tech platform and other initiatives. Shares fell sharply in after‑hours trading last night and were down again in early trading today as Wall Street digested the outlook. Financial Times+1 By the numbers (Q3 2025, quarter ended Sept. 30) Earnings vs. expectations: DoorDash reported $0.55 EPS, missing Street estimates (variously reported around $0.67–$0.69). Total costs and expenses rose ~23% to $3.19B, pressuring margins. Reuters+1 Why
6 November 2025
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D‑Wave Quantum (QBTS) Q3 2025: Revenue Doubles to $3.7M, Record $836M Cash, Bookings Accelerate — What It Means for the Stock Today

D‑Wave Quantum (QBTS) Q3 2025: Revenue Doubles to $3.7M, Record $836M Cash, Bookings Accelerate — What It Means for the Stock Today

D‑Wave Quantum Inc. (NYSE: QBTS) reported third‑quarter fiscal 2025 results before the open today, delivering 100% year‑over‑year revenue growth to $3.7 million and a sharp sequential uptick in customer bookings to $2.4 million. Shares were recently around $31 intraday, modestly higher following the print. The company also ended the quarter with a record $836.2 million cash balance, while GAAP net loss widened to $140.0 million—driven primarily by non‑cash warrant remeasurement charges. Business Wire Key numbers at a glance (Q3 FY25) Why GAAP loss widened while cash hit a record D‑Wave’s $140.0M GAAP net loss reflects $121.9M in non‑cash, non‑operating charges
6 November 2025
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Warner Bros. Discovery (WBD) Q3 2025: Loss Widens as TV Slumps, Studio Soars on ‘Superman’; Zaslav Says Sale/Split Review “Active” — November 6, 2025

Warner Bros. Discovery (WBD) Q3 2025: Loss Widens as TV Slumps, Studio Soars on ‘Superman’; Zaslav Says Sale/Split Review “Active” — November 6, 2025

Warner Bros. Discovery, Inc. (Nasdaq: WBD) reported third‑quarter 2025 results before the bell on Thursday, detailing a sharper‑than‑expected loss as cord‑cutting weighed on TV networks, while the film studio outperformed on the back of “Superman” and other tentpoles. Management also reiterated that a strategic review—ranging from a full or partial sale to a previously announced two‑way split—remains underway, with no hard deadline. Reuters Top takeaways (Q3 FY2025) By segment (revenue): Streaming $2.63B (flat), Studios $3.32B (+24%), Global Linear Networks $3.88B (‑22%). Studio growth was driven by “Superman,” “Weapons,” and “The Conjuring: Last Rites.” MarketScreener+1 What management said — and what
6 November 2025
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Arm Holdings (ARM) Beats Q2, Lifts Q3 Outlook on AI Momentum — What to Know Today (Nov. 6, 2025)

Arm Holdings (ARM) Beats Q2, Lifts Q3 Outlook on AI Momentum — What to Know Today (Nov. 6, 2025)

Why Arm is rallying today Arm delivered another “beat‑and‑raise” quarter as AI workloads continue to shift toward Arm’s power‑efficient compute. Revenue of $1.14B (+34% YoY) topped expectations, while non‑GAAP EPS of $0.39 cleared the Street. Management guided Q3 well above consensus, citing broad‑based strength across smartphones, automotive, IoT—and especially data centers, where hyperscalers are standardizing around Arm for performance‑per‑watt gains. Reuters Under the hood, royalties rose 21% to $620M—helped by higher‑value Armv9 designs and Arm’s Compute Subsystems (CSS)—and licensing surged 56% to $515M on the timing of several high‑value deals. Those metrics underscore Arm’s dual model (upfront IP licenses +
6 November 2025
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