ZM News & Events

Galaxy Digital kicked off crypto earnings season Tuesday with a wider-than-expected Q1 loss, as a broad market selloff erased principal investment gains and compressed trading volumes across the sector. Hut 8 simultaneously priced a $3.25B investment-grade bond to fund a 245 MW AI data center, the largest single capital raise yet from the miner-to-infrastructure cohort. On the structural side, Broadridge Financial Solutions and Ondo Finance reached a milestone that custody desks have been watching closely, extending full shareholder voting rights to holders of tokenized equities for the first time. Rounding out the session, Eightco Holdings disclosed a $333M mixed digital asset treasury anchored by the world's largest known institutional Worldcoin position, and Exodus Movement revealed that U.K. receivers have been appointed over three of its subsidiaries following a $70M loan default. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.GALAXY DIGITAL Q1 MISS:Galaxy Digital(GLXY)reported a Q1 net loss of $216M, or an adjusted diluted EPS of (49c), missing the consensus estimate of (44c), as a roughly 20% drawdown in total crypto market cap compressed trading revenues and marked down principal investments, according tothe company's earnings results. The firm posted adjusted EBITDA of ($188M) and ended the quarter with $2.6B in cash and stablecoins. Despite the headline miss, Galaxy delivered its first completed data hall at the Helios campus to CoreWeave(CRWV)and disclosed ERCOT approval for an additional 830 MW at that site, pushing total approved Helios capacity above 1.6 GW.On-chain monitorstracked two Galaxy-linkedwallets depositing a combined 45,000 ether(ETH-USD)worth roughly $104M to Binance, Bybit, and OKX in staggered tranches overnight, a multi-venue distribution pattern consistent with pre-sale positioning.HUT 8 AI BOND PRICING:Hut 8(HUT)priced a $3.25B private offering of 6.192% senior secured notes due 2042, issued through subsidiary Hut 8 DC LLC, to finance construction of a 245 MW data center at its River Bend campus, with the transaction expected to close April 30, 2026, perthe company's investor relations website. The notes are structured as non-recourse to Hut 8, ring-fencing the parent from downside should the data center ramp miss contracted hyperscaler demand. At $3.25B for a single campus build, the deal is the largest disclosed capital raise from the mining-to-AI infrastructure cohort to date. The coupon at 6.192% reflects investor demand for contracted power assets at a time when grid-scale data center capacity remains constrained across ERCOT and PJM territories.BROADRIDGE TOKENIZED VOTING:Broadridge Financial Solutions(BR)announced that holders of more than 250 Ondo Finance-tokenized stocks and ETFs can now participate in proxy voting and access SEC filings through Broadridge's ProxyVote platform using Web3 wallet authentication, described as the first instance of on-chain shareholder voting rights for tokenized equities, as announced ina press release. The arrangement resolves one of the most-cited structural gaps in institutional real-world asset adoption, as tokenized equities previously could not replicate the full bundle of governance rights attached to traditional shares. The Broadridge integration means tokenized equity now carries proxy, information, and voting entitlements that are operationally equivalent to those of street-name holders, removing a key barrier that custodians and fund administrators have pointed to when evaluating whether to support real-world asset platforms.EIGHTCO MIXED ASSET TREASURY:Eightco Holdings(ORBS)disclosed total holdings of approximately $333M as of April 27, comprising a $90M indirect position in OpenAI equity through special purpose vehicles, a $25M investment in Beast Industries, 11,068 ether, 283,452,700 worldcoin(WLD-USD)tokens representing roughly 8.58% of circulating supply at 25c per token, and $121M in cash and stablecoins. The composition sets Eightco apart from single-asset crypto treasury vehicles, pairing digital asset beta with private-market exposure to OpenAI and MrBeast's media enterprise. The worldcoin position is the largest publicly disclosed institutional holding of that token globally, and management noted that World ID has seen rapid enterprise integration in recent weeks across Tinder(MTCH), Zoom(ZM), and Docusign(DOCU).EXODUS SUBSIDIARIES IN RECEIVERSHIP:Exodus Movement(EXOD)announced thatU.K. Receivers from AlixPartners have been appointedover Monavate Holdings, Monavate, and Baanx.com, three subsidiaries of W3C Corp, after W3C defaulted on a $70M secured term loan governed by English law. Exodus stated it intends to bid in the resulting sale process, meaning the company could reacquire the assets at distressed prices or lose them entirely to a third-party bidder.PRICE ACTION:As of time of writing, bitcoin was trading at $76,054.02, while ether was trading at $2,275.27,according to price data from TipRanks.

The major averages had a mixed session following a surge in chip stocks after strong earnings, particularly from Intel. The macro headwind, meanwhile, remains oil and geopolitics. Crude continues to be volatile amid renewed tensions in the Middle East, including shipping disruptions and military activity tied to the ongoing U.S.-Iran conflict. Of note, a Pakistani government official told MS NOW that Iranian Foreign Minister Abbas Araghchi is anticipated to arrive in Islamabad on Friday and that talks between the U.S. and Iran will likely occur there.In other news, Jeanine Pirro, U.S. Attorney for the District of Columbia, said the Department of Justice will close its investigation into Federal Reserve Chair Jerome Powell. Pirro added in her statement on the matter, however, that she "will not hesitate to restart a criminal investigation should the facts warrant doing so."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Intelreported muchand provided upbeat Q2 earnings guidanceProcter & Gamblereportedand maintained its core FY26 earnings outlookMaxLinearshares soared after itswas followed by upgrades at Needham and Roth CapitalMetato deploy Amazon Web Services'Graviton processorsGooglewill invest up to $40B in Anthropic,2. WALL STREET CALLS:Intelto Buy or equivalent ratings at Citi, Evercore ISI and Roth Capital after earningsDA Davidson alsoAMDto Buy after the big Intel beatSportradarto Hold at JefferiesBloomin' Brandsto Underweight at JPMorganMoffettNathansonDraftKingsand Flutter Entertainmentto Neutral amid prediction markets "clouds"3. AROUND THE WEB:Googleand Microsoftwill bed to lease a SoftBankU.S. data center, Nikkei Asia reportsFordhas discussed bringing Chinese automaker Geely'stechnology to the U.S., WSJ reportsSun Pharmaceutical is set to make a binding offer of $13B for Organon, The Economic Times reportsSpruce Point Management announces a long position in Zoom Communications, saying it sees "material upside potential" in the sharesNvidiahas yet to sell H200 AI chips to Chinese companies, citing difficulties obtaining permission from the Chinese government faced by potential buyers, Reuters says4. MOVERS:PagerDutygained after a rumor an activist targeting the company wasNewmontincreased after, with EPS and revenue beating consensusX-energyrose after itfollowing the IPO priced at $23 for the small modular nuclear reactor developerCharterwas lower after, with EPS missing consensusCourserafell afterand provided guidance for Q2 and FY265. EARNINGS/GUIDANCE:Gentexand raised its guidance for FY26Moogand raised its guidance for FY26, with CEO Pat Roche commenting, "Our teams delivered another outstanding quarter"HCA Healthcare, with EPS in-line with consensusSLBand increased its guidance for FY26, with CEO Olivier Le Peuch commenting on "a challenging start to the year" amid widespread disruptions in the Middle EastApogee Enterprises, with EPS higher year-over-yearINDEXES:The Dow fell 79.61, or 0.16%, to 49,230.71, the Nasdaq gained 398.09, or 1.63%, to 24,836.60, and the S&P 500 advanced 56.68, or 0.80%, to 7,165.08.

The major averages were mixed near noon following a surge in chip stocks after strong earnings, particularly from Intel. The macro headwind, meanwhile, remains oil and geopolitics. Crude continues to be volatile amid renewed tensions in the Middle East, including shipping disruptions and military activity tied to the ongoing U.S.-Iran conflict. Of note, a Pakistani government official told MS NOW that Iranian Foreign Minister Abbas Araghchi is anticipated to arrive in Islamabad on Friday and that talks between the U.S. and Iran will likely occur there.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Intelreportedand provided upbeat Q2 earnings guidanceProcter & Gamblereportedand maintained its core FY26 earnings outlookMaxLinearshares soared after its Q1 earnings beat was followed byMetasigned anAmazon Web Services'Graviton processorsJeanine Pirro, U.S. Attorney for the District of Columbia, said the DOJ willinto Federal Reserve Chair Jerome Powell2. WALL STREET CALLS:Intelto Buy or equivalent ratings at Citi, Evercore ISI and Roth Capital after earningsDA Davidson alsoAMDto Buy after the big Intel beatSportradarto Hold at JefferiesBloomin' Brandsto Underweight at JPMorganMoffettNathansonDraftKingsand Flutter Entertainmentto Neutral amid prediction markets "clouds"3. AROUND THE WEB:Sun Pharmaceutical is set to make a binding offer of $13B for Organon, The Economic Times reportsSpruce Point Management announces a long position in Zoom Communications, saying it sees "material upside potential" in the sharesNvidiahas yet to sell H200 AI chips to Chinese companies, citing difficulties obtaining permission from the Chinese government faced by potential buyers, Reuters saysBarclaysdecided not to challenge the Financial Conduct Authority's motor finance ruling, which could lead to average payouts for drivers of more than GBP 800M, Sky reportsTens of thousands of Samsungworkers rallied for a larger share of AI-driven profits, with the union demanding 15% of operating profit versus the company's offer of 10% plus a 6.2% wage increase, Bloomberg reports4. MOVERS:PagerDutygains after a rumor an activist targeting the company was highlighted in Ben Harrington's buyout-focusedNewmontincreases after, with EPS and revenue beating consensusSAPhigher in New York after Grupo Santanderthe stock to OutperformCharterlower after, with EPS missing consensusCourserafalls afterand provided guidance for Q2 and FY265. EARNINGS/GUIDANCE:Gentexand raised its guidance for FY26Moogand raised its guidance for FY26, with CEO Pat Roche commenting, "Our teams delivered another outstanding quarter"HCA Healthcare, with EPS in-line with consensusSLBand increased its guidance for FY26, with CEO Olivier Le Peuch commenting on "a challenging start to the year" amid widespread disruptions in the Middle EastApogee Enterprises, with EPS higher year-over-yearINDEXES:Near midday, the Dow was down 0.13%, or 62.86, to 49,247.46, the Nasdaq was up 1.47%, or 358.33, to 24,796.84, and the S&P 500 was up 0.74%, or 52.61, to 7,161.01.