US Market News
2日前
Introducing Cash App Tags1: A New Way to PayJune 4, 2026 12:00 PM
Business Wire The physical payment accessories are linked to the Cash App Visa® Card*, enabling customers to pay without their phone or wallet Cash App is releasing a limited run of the first model—the Cash App Wand—available starting today while supplies last Today, Cash App is launching a new payment form factor that’s changing the shape of money. Cash App Tags are NFC-enabled, physical payment accessories that let customers pay without having to reach for their phone or card. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604639871/en/Cash App Wand The first-edition Cash App Tag—the pearlescent Cash App Wand—is now available for Cash App Card holders to purchase in the app, while supplies last. Designed to match the way Gen Z expresses their style and identity, the Cash App Wand is equipped with a keychain so customers can clip, wear, and carry it with ease. Cash App Tags were built for on-the-go payments and also shine in situations where phones aren’t allowed or cumbersome to pull out, from paying for food at a venue that’s phone-free, to ordering merch at a music festival without digging through a bag for a card. "While digital wallets are invisible and physical cards are often buried in wallets, Cash App Tags are just the opposite," said Thomas Templeton, Hardware Lead at Block. "We see a unique opportunity here to make payments visible and social for the first time. Early testers have told us that they've loved carrying the Wand and showing it off at checkout, so we believe there's a real appetite for this among our customers" 1 in 5 American teens2 already have the customizable Cash App Card—the most popular debit card in the US among this audience3—and use it as a vehicle for self-expression by choosing exclusive styles, stamps, and emojis, and even drawing their own designs. A recent Cash App survey of Gen Z consumers also found that 38% purchase collectibles, accessories, or limited edition items at least monthly, more than any other generation.4 Cash App Tags meet the moment by turning the point of sale into an eye-catching extension of customers’ personal style. The Cash App Wand is the first of multiple styles Cash App plans to introduce. In the coming weeks, the brand will drop limited runs of new Cash App Tag designs to Cash App Card holders ahead of general availability later this summer. “We see this as an early starting point for Cash App Tags. The number of form factors we can create is nearly limitless,” added Templeton. “From clothing to jewelry, almost any item can become a way to pay with this technology. We’re looking forward to hearing what our customers want to see next.” To get started, customers must have an active Cash App Card. They can activate their Tag by opening Cash App on their phone, then linking their Tag to their Cash App Card by following the instructions in the app. Once the Tag is activated, customers can tap to pay in less than a second without holding a phone or card. Since Cash App Tags operate the same as the Cash App Card, they will work where Visa tap to pay is accepted and there are no minimum balance or activity requirements. Tags also have built-in security features including real-time transaction alerts, 24/7 fraud monitoring, and the ability to instantly lock and unlock the Tag within the app. Customers can also use the app to deactivate a Cash App Tag at any time. The Wand is available starting today for $25 (plus any applicable sales tax) exclusively through Cash App. Cash App Tags are currently available for eligible customers ages 13 and up.5 To learn more about Cash App Tags, visit cash.app/tags. About Cash App: Cash App is the money app. Banking* on Cash App is easy: customers can receive paychecks early with direct deposit, spend money where Visa® is accepted with a personalized Cash App Card, and grow their money with a separate savings balance - all without hidden fees. Customers can also create a unique $Cashtag to share with anyone to get paid fast, make purchases with Cash App Pay, trade stocks and buy and sell bitcoin.** With Afterpay,*** customers can also pay over time in a way that best fits their financial needs through participating merchants or directly in the app. Download Cash App for free at cash.app/download. *Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC. Cash App Visa® Debit Flex Cards issued by Sutton Bank, Member FDIC, , pursuant to a license from Visa U.S.A. Inc. See terms and conditions for the Sutton prepaid card and Sutton debit flex card. See cash.app for more details. **Brokerage services provided by Cash App Investing LLC, member FINRA/SIPC, subsidiary of Block, Inc. Stablecoin and Lightning Network are not available to New York residents. Bitcoin services provided by Block, Inc. Bitcoin services are not licensable activity in all U.S. states and territories. Block, Inc. operates in New York as Block of Delaware and is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Investing and bitcoin are non-deposit, non-bank products that are not FDIC insured and involve risk, including monetary loss. Cash App Investing does not trade bitcoin and Block, Inc. is not a member of FINRA or SIPC. For additional information, see the Bitcoin and Cash App Investing disclosures. ***Afterpay is offered and managed through your Cash App account - no Afterpay account needed. Eligibility is based on several factors and is not guaranteed. Afterpay is not available in all states. Afterpay loans issued by First Electronic Bank, serviced by Square Capital, Inc. View state licenses. ________________ 1 Cash App Tags are financial instruments linked to your Cash App Card, and NOT toys. Available to 13+. Use responsibly. 2 As of September 2025, based on a percentage of overall U.S. teen population as of 2023, according to U.S. Department of Justice estimate 3 Morning Consult Parent Omnibus US, August 2025 (Cash App commissioned online survey of n=1,046 US adults who have a teen age 13-17) 4 15-minute quantitative online survey emailed via Decipher to Cash App customers and a Gen Pop sample who are non-rejectors of tap-to-pay wearable/accessories (N=5493). The Gen Pop sample was weighted to reflect the demographic distribution of the US population, while the Cash App customer sample was weighted to reflect demographic distributions of Cash App customers. The survey ran in November 2025 5 Teens aged 13 to 17 can join with approval from eligible parent or guardian. To view the eligibility requirements for sponsoring a teen, please visit the Sponsored Accounts section of the Cash App Terms of Service. View source version on businesswire.com: https://www.businesswire.com/news/home/20260604639871/en/ Media Contact: press@cash.app Original: Introducing Cash App Tags1: A New Way to Pay
US Market News
3週前
The Hat Selects Square to Power Multi-State ExpansionMay 19, 2026 11:13 AM
Business Wire The iconic pastrami brand is utilizing Square for Restaurants to manage its 11-location portfolio as it extends beyond its Southern California roots Square today announced that The Hat, a quick-service restaurant (QSR) beloved for its pastrami sandwiches for 75 years, has selected Square as its unified commerce platform. With Square’s technology foundation now rolled out across The Hat’s 11 locations in California, the brand is ready to embark on its first expansion out of state. This month, The Hat is opening its 12th restaurant in Las Vegas, Nevada, marking a new chapter of multi-location management supported by Square for Restaurants. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260519123332/en/Las Vegas location, photo courtesy of The Hat Founded in 1951 as a roadside stand in Alhambra, The Hat remains beloved in Southern California for its generous portions, high-quality ingredients, and neighborhood warmth. With old-school hospitality a key part of the brand’s identity – including cash acceptance, printed order numbers, and order call-outs by counter teams – it was essential for The Hat to preserve its human connection as the technology behind the business advanced. The Hat's leadership undertook a rigorous, multi-month evaluation to find the platform that could support the restaurant’s complexity and ambition, without compromising the welcoming experience customers have long known and returned for. A Rigorous Road to the Right Commerce Platform “Choosing Square as our new technology partner was a decision we took seriously and viewed as a long-term move," said Jarred Conzonire, Director of Marketing and Operations at The Hat. "We ran a thorough evaluation, going location by location. What we found was a system that matched how we actually work, instead of one that asked us to change what makes us who we are. That's a rare thing. With Square, we’re able to preserve our legacy, while innovating for the future." The Hat's path to Square was deliberate. Jarred Conzonire led a side-by-side pilot evaluation in a live testing environment, assessing Square against competing platforms before committing. Square stood out for its ease of use, intuitive staff experience, and ability to be configured around The Hat's real-world workflows across locations. Square’s rollout began with one restaurant in December 2025. From there, The Hat’s district managers were active participants in validating the platform across locations before full deployment. The team’s confidence in the Square platform at scale served as the green light to continue. By March 2026, not only were The Hat's 11 restaurants onboarded to Square, but plans were made to open the brand’s first out-of-state destination in Las Vegas, Nevada – a decision bolstered by Square’s ability to support the brand’s expansion into new markets. “A technology provider isn’t simply about the product they offer, but the team behind that product,” said Joe Conzonire JR, CFO and COO at The Hat. “In addition to Square’s ease of use, the team at Square has delivered on their promise to provide the human support our organization requires. This allows The Hat to become the best it can be.” Multi-Location Management for a High-Volume QSR As the pastrami sandwich QSR sustained its momentum, The Hat’s corporate owners and district managers required more than new registers to further scale. They needed real-time visibility, brand standardization, and interconnection across their entire portfolio. Square for Restaurants gives The Hat centralized menu management and unified reporting tools, empowering leadership with comprehensive operational insights. The Hat also uses Square Register (paired with receipt printers and cash drawers) configured for high-volume counter service. Online, Square Marketing is positioned as a key tool for deepening customer engagement and loyalty as the brand geographically expands. "Legacy QSR brands don't switch platforms lightly," said James Schonzeit, Head of Food & Beverage at Square. "The Hat spent months stress-testing Square against the realities of their business: the volume, the pace, the workflows their staff and customers depend on. The fact that they’ve not only deployed Square across all locations – but are also bringing it into new markets – tells you what the results looked like and will continue to unlock." Learn more about how Square powers restaurants at: https://squareup.com/us/en/restaurants About The Hat Founded in 1951 in Alhambra, California, The Hat is a family-owned quick-service restaurant (QSR) brand specializing in its World Famous Pastrami Dip Sandwich. With 11 locations across Southern California and a 12th opening in Las Vegas, The Hat has served generations of loyal customers through a fast, quality-driven counter-service model unchanged in its spirit since the brand's founding. For more information, visit thehat.com. About Square Square helps businesses turn transactions into connections and businesses into neighborhood favorites. In 2009, Square started with a simple invention – the first mobile card reader, which changed how the entire financial system thinks about small businesses. Square has since grown into a global business platform helping millions of sellers of all sizes participate and thrive in their communities. Whether independently run or a global chain, Square understands that sellers succeed when they have the freedom to focus on the experiences that keep customers coming back. From point of sale and payments to online commerce, staff management, cash flow tools, and more, Square brings together the tools sellers need to run and grow on one intelligent platform. For more information, visit squareup.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260519123332/en/ Media Contact:
Square Press
press@squareup.com Original: The Hat Selects Square to Power Multi-State Expansion
iHub News
4週前
Block (XYZ) shares rally after earnings beat and stronger full-year outlookMay 8, 2026 5:59 AM
IH Market News Block Inc (NYSE:XYZ) posted first-quarter results that topped Wall Street profit expectations, sending the company’s shares up around 7% in premarket trading Friday after management raised its outlook for the full year.The financial technology company reported adjusted earnings per share of $0.85, exceeding analyst estimates of $0.68 by $0.17. Revenue came in at $6.06 billion, slightly below the consensus forecast of $6.12 billion.Gross profit totaled $2.91 billion, representing a 27% increase from the same period last year and surpassing the company’s own guidance.Block also reported a GAAP diluted net loss per share of $0.52. The result was affected by $852 million in restructuring expenses and legal contingency costs tied to organizational changes implemented in February. Company raises 2026 guidance Following the quarterly results, Block increased its full-year 2026 adjusted EPS forecast to $3.85, above the analyst consensus estimate of $3.64. The updated guidance implies annual growth of 62%.The company now expects 2026 gross profit to reach $12.33 billion, reflecting projected year-over-year growth of 19%.Block also forecast adjusted operating income of $3.34 billion for the year, implying an operating margin of 27%.For the second quarter, management expects gross profit of $3.04 billion, representing 20% growth from a year earlier, alongside adjusted operating income of $740 million. Analysts point to improving profitability story “Block is becoming the business it should be with pieces in place for a powerful TAM expansion & profitability story,” Morgan Stanley analyst James Faucette said while reiterating an Overweight rating on the stock.Cash App gross profit climbed 38% year over year to $1.91 billion, supported by strong performance from Cash App Borrow and commerce enablement products.Consumer lending origination volume surged 82% compared with the prior year to $17.6 billion.Primary Banking Actives reached 9.7 million users in March, marking growth of 18% from a year earlier.Square gross profit increased 9% year over year to $982 million, while Square gross payment volume (GPV) advanced 13% to $61.2 billion. Dorsey highlights AI-driven productivity gains “AI tools have changed what it means to build and run a company,” said CEO Jack Dorsey in the shareholder letter.“Production code changes per engineer are up over 2.5x compared to January.”Last quarter, Dorsey announced a 40% workforce reduction, lowering the company’s employee count from 10,000 to 6,000.During the quarter, Block repurchased 10.7 million shares for $636 million. The company still has approximately $4.7 billion remaining under its current buyback authorization.Block stock price Original: Block (XYZ) shares rally after earnings beat and stronger full-year outlook
BottomBounce
2月前
Current and former Block workers say AI can’t do their jobs after Jack Dorsey’s mass layoffs: ‘You can’t really AI that’ $xyz Workers Say the AI Tools Are Nowhere Near Capable of Replacing Them
Across engineering, product, fraud analysis, and customer-facing roles, employees consistently reported that Block’s AI systems cannot perform the judgment-heavy, context-dependent work their jobs require.
Key points from workers:
AI tools are not proactive — employees must tell them exactly what to do.
AI lacks strategic vision, which is essential for product and engineering roles.
AI-generated code requires human approval on ~95% of changes, meaning the tools create more overhead, not less.
Customer-facing chatbots have already caused support failures, undermining the idea that AI can replace human service roles.
Fraud analysts say their work depends on intuition, edge-case experience, and contextual reasoning — things AI fundamentally cannot replicate. One put it bluntly: “You can’t really AI that.”
This is not resistance to change — it’s a technical reality check.
The Internal Mood: AI Fatigue, Pressure, and Disillusionment
Workers described:
AI fatigue from constant pressure to adopt tools that didn’t work well
Monitoring of their AI usage down to token counts
Fear that participating in AI training exercises was helping leadership automate them out of a job
Low morale among remaining staff, especially as customer service quality declined under AI-driven systems
The cultural impact is severe: employees feel the company is chasing a narrative rather than building sustainable systems.
BottomBounce
2月前
$XYZ is entering a structural decline masked by short-term cost cuts, with weakening fundamentals, deteriorating margins, and a business model increasingly dependent on hype rather than sustainable growth.
1. Revenue Growth Is Stalling While Profitability Collapses
Net income cratered 94% YoY, and net profit margin plunged 94% as well, signaling that the core business is losing operating leverage rather than gaining it.
EPS is down nearly 8.5%, showing that even aggressive layoffs and restructuring aren’t translating into real earnings power.
2. AI Layoffs Signal Weakness, Not Strength
Management is framing mass layoffs as “AI-driven efficiency,” but reports show employees saying AI can’t actually replace their jobs, exposing a widening gap between narrative and reality.
Cutting nearly half the workforce is not a sign of a healthy, scaling fintech — it’s a sign of a company desperately trying to protect margins as growth slows.
3. High Beta + Falling Momentum = Volatility Risk
With a beta of 2.61, $XYZ is extremely sensitive to market downturns.
The stock is already down 22% over 6 months and nearly 10% in the last month, showing accelerating negative momentum.
4. Valuation Still Looks Stretched
Despite collapsing earnings, the stock trades at a P/E near 28–29, which is rich for a company with shrinking margins and slowing revenue.
Forward expectations assume a turnaround that the fundamentals simply don’t support.
5. Core Businesses Are Losing Their Edge
Cash App growth is slowing as competition intensifies from PayPal, Apple, and traditional banks.
Square’s merchant ecosystem faces margin pressure as small businesses tighten spending in a higher-rate environment.
The Afterpay acquisition continues to drag as BNPL delinquencies rise industry-wide.
6. Crypto Exposure Adds Tail Risk
Heavy reliance on Bitcoin-related revenue introduces volatility that is not tied to operational performance.
Management’s increasing focus on crypto and “AI-native” storytelling feels like a pivot away from struggling core businesses.
Bearish Summary
$XYZ is becoming a textbook case of a company using AI and crypto narratives to distract from deteriorating fundamentals. Revenue growth is slowing, profitability is collapsing, layoffs are masking deeper structural issues, and valuation remains elevated relative to risk. With high beta, weakening momentum, and a business model under competitive and macro pressure, the downside case looks increasingly compelling.
US Market News
2月前
Why Leading Restaurants are Switching to SquareMarch 23, 2026 1:00 PM
Business Wire
From fine dining to breweries, leading operators and local icons are choosing Square for its stand-out product innovation, ease of use, and transparent pricing
Square’s comprehensive platform, product velocity, and intuitive design and pricing are driving restaurants to switch to the platform. Square recently reported that GPV from its food and beverage sellers grew 16% year-over-year in Q4 of 2025¹ as more businesses from fine dining establishments to breweries choose Square to power their operations.
“Restaurants are tired of overpaying for technology that isn’t working for them and their businesses. At Square, our food and beverage business is growing, and that’s because we’re committed to serving sellers with innovation, transparency, and ease of use,” said Nick Molnar, Head of Sales and Marketing at Block. “Even with more complex business models, restaurants are using Square to save time and money so they can focus on hospitality.”
How leading operators are using Square
For Michelin-recommended Anajak Thai, Square’s purpose-built features for fine dining and its dedicated support were the key differentiators in switching their business over. The legendary Los Angeles restaurant leverages Square Handheld for quick and precise tableside service, and they use Square’s direct integration with OpenTable to manage reservations and uplevel their hospitality through diner insights and data.
“Our restaurant can't afford downtime or clunky technology. Square's platform is intuitive and reliable,” said Justin Pichetrungsi, James Beard–awarded chef and owner of Anajak Thai. “But what really sets Square apart is the people behind the product – they listen, they care about our success, and they're constantly innovating. That's the kind of partner you want when you're running a business at this level.”
Saucy Brew Works in Cleveland, Ohio transitioned to Square to enhance operational efficiency and unlock savings and flexibility for future growth. Across their five locations, the business is using Square Handheld, Square Stand, Square Staff, and the Square Kitchen Display System to manage front and back-of-house operations, and they are using integrations like Restaurant365 and Tripleseat to help power employee scheduling and event management, respectively. The brewery is also rolling out Square Bitcoin payments to all of its locations, and as a result of the switch to Square, they’re set to save on costs between processing and subscription fees.
“Our previous point-of-sale provider was getting out of touch on what a small business needed as far as pricing. It came to a point where we realized we were overpaying and they were underdelivering,” said Michael Grasso, director of restaurant operations at Saucy Brew Works. “With Square, sitting down with the team made the difference. They laid everything out really well so we could see the value.”
Lotus of Siam, a renowned Thai restaurant chain based in Las Vegas, also looked for cost savings and ease of use when shopping for a new point of sale provider to power their three locations. Given frequent internet blackouts in their area, too, they needed a reliable platform like Square that offered easy mobile and offline payments. Lotus of Siam is using Square Handheld, Square Stand, and Square Staff to manage the front and back of house, and have been leveraging insights from Square AI to both better understand their business and onboard employees faster.
“Square is dummy-proof, and it’s a lot easier to read when you’re looking at your sales and your reports. I have three managers who don’t have to call me in the middle of the night and ask me, ‘Hey, how do I do this?’” said Penny Chutima, owner of Lotus of Siam. “And so it actually helps us manage our funds a lot better. We’re also getting cost savings on the product, too – as of today, we’re now saving five figures with Square.”
Why the Square difference matters
Today's restaurant operators face unprecedented pressure: labor costs are climbing, consumer expectations are rising, and the technology landscape has become increasingly fragmented. Many find themselves juggling multiple disconnected systems, each with its own pricing model and learning curve. The result is wasted time, wasted money, and a constant struggle to keep up – leaving little room for the strategic decisions that actually grow a business.
That's where Square comes in. Square delivers technology that simplifies operations, reduces costs, and gives restaurants back the freedom to focus on what matters most – their customers and their business. Which is why leading hospitality businesses across all segments are making the switch.
To learn more about how Square powers food and beverage businesses, visit squareup.com/restaurants.
¹Block Q4 2025 Shareholder Letter
DISCLAIMERS
Square Bitcoin is not offered to NY Sellers or non-US Sellers. Availability subject to change and regulatory approval. Bitcoin’s value is volatile and can change quickly. Bitcoin transactions are irreversible and may experience occasional delays or payment failures. Bitcoin services are provided by Block, Inc., licensed where required. Block, Inc. operates in NY as Block of Delaware and is licensed to engage in virtual currency business activity by the NYDFS.
Offline payments are processed automatically when you reconnect your device to the internet and will be declined if you do not reconnect to the internet within 24 hours of taking your first offline payment. By enabling offline payments, you are responsible for any expired, declined, or disputed payments accepted while offline. Square is unable to provide customer contact information for payments declined while offline. Offline payments are not supported on older versions of Square Reader for contactless and chip (1st generation, v1 and v2).
About Square
Square helps businesses turn transactions into connections and businesses into neighborhood favorites.
In 2009, Square started with a simple invention – the first mobile card reader, which changed how the entire financial system thinks about small businesses. Square has since grown into a global business platform helping millions of sellers of all sizes participate and thrive in their communities.
Whether independently run or a global chain, Square understands that sellers succeed when they have the freedom to focus on the experiences that keep customers coming back. From point of sale and payments to online commerce, staff management, cash flow tools, and more, Square brings together the tools sellers need to run and grow on one intelligent platform. For more information, visit squareup.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260323084852/en/
Media contact:
Square Press
press@squareup.com
Original: Why Leading Restaurants are Switching to Square
iHub News
3月前
Futures Signal Steep Losses at Wall Street Open: Dow Jones, S&P, NasdaqFebruary 27, 2026 9:19 AM
IH Market News
U.S. stock futures pointed to a sharply lower start on Friday, suggesting equities may extend the decline recorded in the previous trading session.Futures moved further into negative territory following the release of new inflation data showing U.S. producer prices rose more than economists had anticipated in January.According to the Labor Department, the producer price index for final demand increased by 0.5% in January after a downwardly revised 0.4% gain in December.Economists had forecast a 0.3% rise, compared with the initially reported 0.5% increase for the prior month.The report also showed annual producer price inflation easing slightly to 2.9% in January from 3.0% in December, while economists had expected a slowdown to 2.8%.Ongoing concerns about job losses and workplace disruption linked to artificial intelligence may also weigh on sentiment after Block (NYSE:XYZ) announced plans to reduce its workforce by nearly half.Block CFO Amrita Ahuja said the company sees an “opportunity to move faster with smaller, highly talented teams using AI to automate more work.”After posting strong gains over the previous two sessions, stocks retreated on Thursday. The technology-heavy Nasdaq recorded notable losses, although the Dow Jones Industrial Average managed to finish slightly higher.The Nasdaq recovered somewhat from early-session lows but still fell 273.69 points, or 1.2%, to close at 22,878.38. The S&P 500 declined 37.27 points, or 0.5%, to 6,908.86, while the narrower Dow edged up 17.05 points — less than 0.1% — to 49,499.20.The downturn on Wall Street was partly driven by a negative reaction to earnings from Nvidia (NASDAQ:NVDA), with shares of the artificial intelligence chipmaker dropping 5.5%.Nvidia stock retreated from its highest closing level in more than three months despite reporting stronger-than-expected fiscal fourth-quarter results and issuing upbeat guidance.“It says a lot when a stock market darling beating revenue forecasts by billions of dollars can no longer muster a positive share price reaction,” said Dan Coatsworth, head of markets at AJ Bell. “The mood music is changing on Nvidia, and it represents a significant shift in investor sentiment.”He added, “The focus has now shifted to growing competition, concerns about excessive levels of investment across the AI space either being unsustainable or unnecessary, and whether the party will end in tears.”Nvidia’s decline helped pull the broader semiconductor sector lower, reflected in a 3.2% drop in the Philadelphia Semiconductor Index, which had closed at a record high in the previous session.Networking stocks also moved notably lower, contributing further to weakness in the tech-heavy Nasdaq.Outside the technology sector, gold mining stocks rallied despite a decline in bullion prices, pushing the NYSE Arca Gold Bugs Index up 2.9% to a record closing high.Airline shares also posted strong gains, lifting the NYSE Arca Airline Index by 2.3%.The Dow’s modest advance was partly supported by a sharp rise in Salesforce (NYSE:CRM), whose shares jumped 4.0% after the company reported better-than-expected fourth-quarter results.On the economic front, separate Labor Department data showed a modest increase in first-time unemployment claims in the week ended February 21.Initial jobless claims rose to 212,000, up 4,000 from the prior week’s revised level of 208,000.Economists had expected claims to increase to 215,000 from the originally reported 206,000 in the previous week.Block stock priceNvidia stock priceSalesforce stock price
Original: Futures Signal Steep Losses at Wall Street Open: Dow Jones, S&P, Nasdaq
iHub News
3月前
Block shares surge as Dorsey announces 40% workforce reduction tied to AI transformationFebruary 27, 2026 6:30 AM
IH Market News
Block Inc (NYSE:XYZ) shares jumped more than 22% in U.S. premarket trading on Friday after the payments company revealed plans to cut nearly 40% of its workforce as part of a broader push to integrate artificial intelligence more deeply across its operations.The layoffs — expected to eliminate more than 4,000 positions — come as companies increasingly adjust staffing levels in response to the rapid adoption of AI technologies. The trend has fueled concerns among employees and economists that the productivity gains driven by AI could also lead to higher unemployment.“Block may serve as a case study for how AI investments may adversely impact employment rates. That said, Block is a tech-forward company that has invested meaningfully in internal AI tools which is allowing them to take such a drastic action,” analysts at Truist Securities led by Matthew Coad said in a note.Chief Executive Officer Jack Dorsey said in a statement that “ntelligence tools have changed what it means to build and run a company,” adding “[w]e’re already seeing it internally” and “[a] significantly smaller team using the tools can do more and do it better[.]”While Block expects restructuring costs of up to $500 million, Truist analysts suggested the strong share price reaction likely reflects investor expectations that slimmer staffing levels will improve profitability over time.The company raised its full-year 2026 guidance, now projecting gross profit of $12.20 billion and adjusted operating income of $3.20 billion. Management believes the organizational changes will materially expand margins and lift adjusted diluted earnings to $3.66 per share.Evercore analyst Adam Frisch described the scale of the layoffs as a “shocking headline” and said the move could represent a defining moment for the technology industry. He added that it marks the “seminal moment to date in the AI narrative and how it could transform companies as we know it going forward.”Frisch also highlighted Block’s quarterly performance as encouraging, calling the development “fascinating” even though such a scenario had not previously been considered in forecasts for 2026.Block reported fourth-quarter adjusted earnings of $0.65 per share, slightly ahead of the $0.64 analyst consensus estimate. Revenue for the quarter totaled $6.25 billion, narrowly missing Wall Street expectations of $6.29 billion.Gross profit rose 24% year over year to $2.87 billion, supported by a 33% increase in Cash App performance. The Square ecosystem also remained resilient, with gross payment volume growth accelerating to 12% through late February.Cash App engagement strengthened, with “Primary Banking Actives” increasing 22% to 9.3 million users — a segment that generates roughly ten times the profit of peer-to-peer users. Meanwhile, Square saw particular momentum in the Food and Beverage segment, where gross profit grew 16% following significant investment in specialized seller software.The company also exceeded the “Rule of 40” benchmark during the quarter, an industry metric combining gross profit growth and operating margin. Management expects this momentum to continue into 2026 and is targeting a “Rule of X” score of 44% as it focuses on disciplined cost control.
Original: Block shares surge as Dorsey announces 40% workforce reduction tied to AI transformation
iHub News
3月前
Paramount Poised to Win Warner Deal as Block Jumps — Key Market Movers: Dow Jones, S&P, Nasdaq, Wall Street FuturesFebruary 27, 2026 5:21 AM
IH Market News
U.S. stock index futures moved slightly lower on Friday as investors weighed fresh earnings from major technology companies and reassessed sentiment around artificial intelligence-driven trades. Paramount Skydance (NASDAQ:PSKY) appears set to prevail in the takeover contest for Warner Bros. Discovery (NASDAQ:WBD) after Netflix (NASDAQ:NFLX) withdrew its competing offer, while AI firm Anthropic entered a dispute with the Pentagon. Meanwhile, Jack Dorsey’s Block (NYSE:XYZ) surged after announcing large-scale job cuts, and oil prices edged higher.
Futures drift lower
U.S. equity futures pointed to a softer finish to the week as markets digested a wave of influential technology earnings.As of 02:59 ET (07:59 GMT), Dow futures were down 205 points, or 0.4%, S&P 500 futures slipped 13 points, or 0.2%, and Nasdaq 100 futures traded broadly flat.Wall Street closed mixed on Thursday, with investors focused on results from artificial intelligence heavyweight Nvidia (NASDAQ:NVDA) and cloud software provider Salesforce (NYSE:CRM).Although Nvidia delivered quarterly earnings above expectations, investors remained cautious amid growing competition, questions about the durability of strong demand, and uncertainty over when meaningful returns will materialize. Shares of Nvidia — a major index component — fell more than 5%.Salesforce shares advanced despite issuing a weaker-than-anticipated annual revenue outlook. Analysts at Vital Knowledge described the results as “no worse than feared.”The session also saw what analysts called a “violent rotation” within technology stocks, as capital shifted away from hardware-oriented names such as semiconductors and data center infrastructure toward software and data-focused companies.According to analysts, “small red flags” from Nvidia alongside relief over results from Salesforce and peer Workday — combined with comments earlier this week from AI startup Anthropic about aiming to “compliment and augment, not kill” software companies — helped fuel the rotation.
Paramount leads Warner bidding battle
Paramount Skydance has emerged as the likely victor in the prolonged takeover struggle for Warner Bros. Discovery after Netflix unexpectedly stepped away from negotiations.Netflix executives — whose shares rose in after-hours trading following the announcement — said the deal was “always a ’nice to have’ at the right price,” but “not a ’must have’ at any price.” While Netflix has the financial capacity to pursue acquisitions, some investors had questioned the strategic logic of buying a traditional media company.Warner Bros.’ board determined Paramount’s $31-per-share all-cash proposal represented a superior offer, prompting Netflix to reconsider its position. After receiving four days to respond, Netflix opted not to match the bid and abandoned its $27.75-per-share proposal covering Warner Bros.’ studios and HBO Max.The development positions Paramount — controlled by David Ellison, son of technology billionaire Larry Ellison — to build a larger entertainment group incorporating franchises such as “Harry Potter” and “Game of Thrones.” If approved by regulators, the transaction would also give Paramount control of cable networks including CNN and TBS.Warner Bros. CEO David Zaslav said a Paramount transaction would “create tremendous value for our shareholders.” Paramount shares rose in extended trading, while Warner Bros. stock declined.
Anthropic clashes with Pentagon
Artificial intelligence company Anthropic said it would refuse Pentagon demands to remove safeguards embedded in its AI systems, creating tension between one of the sector’s leading startups and the U.S. government.The dispute centers on a Pentagon request to eliminate protections that prevent the technology from being used for domestic surveillance or autonomous weapons applications.The Defense Department has warned it could terminate its partnership with Anthropic and classify the firm as a “supply chain risk” if the company does not comply. Defense Secretary Pete Hegseth reportedly set a Friday deadline for Anthropic to allow the technology’s use in all lawful scenarios.Anthropic CEO Dario Amodei said he could not agree “in good conscience,” arguing that the military’s request would effectively dismantle the system’s safety guardrails.
Block shares surge
Shares of Block jumped more than 23% in after-hours trading after the payments firm announced plans to cut nearly half of its workforce as part of a strategy to integrate artificial intelligence more deeply across its operations.The reductions — expected to eliminate more than 4,000 positions — come as companies increasingly reshape staffing structures around AI adoption, raising broader concerns about employment impacts despite productivity gains.Block CEO Jack Dorsey said that “ntelligence tools have changed what it means to build and run a company,” adding “[w]e’re already seeing it internally” and “[a] significantly smaller team using the tools can do more and do it better[.]”Although the company anticipates up to $500 million in restructuring costs, analysts cited by Reuters suggested the sharp share price rise reflects expectations that leaner staffing could improve profitability margins.
Oil edges higher after U.S.–Iran talks
Oil prices moved modestly higher but remained on track for weekly declines after the United States and Iran agreed to continue negotiations over Tehran’s nuclear program, easing fears of supply disruptions.Brent crude futures gained 0.7% to $71.29 per barrel, while U.S. West Texas Intermediate futures rose 0.8% to $65.74 per barrel.For the week, Brent prices were largely unchanged, while WTI was set to fall roughly 1%, reversing part of the prior week’s advance.Talks between Washington and Tehran ended Thursday without a definitive agreement, but technical discussions are scheduled to resume next week in Vienna, Omani Foreign Minister Sayyid Badr Albusaidi said in a post on X following meetings in Geneva.Geopolitical tensions involving Iran have been a key driver of oil price movements throughout February, as the United States increased its military presence in the Middle East and warned of potential action if negotiations failed.Warner Brothers Discovery stock priceNetflix stock priceParamount Skydance stock priceBlock stock priceNvidia stock priceSalesforce stock price
Original: Paramount Poised to Win Warner Deal as Block Jumps — Key Market Movers: Dow Jones, S&P, Nasdaq, Wall Street Futures
US Market News
4月前
Introducing Square AI: Helping UK Small Businesses Turn Instinct Into Confident DecisionsFebruary 10, 2026 4:00 AM
Business Wire
New research shows many UK small businesses are still not taking full advantage of AI, despite clear confidence and productivity gains, and time back. Square AI is designed to close that gap.
Square today announced the UK launch of Square AI, a free, conversational AI assistant built directly into the Square platform to help businesses of all sizes make clearer, faster decisions using their own business data.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260210922162/en/Square AI is a conversational assistant that turns everyday business data into clear, actionable insight. (Graphic: Square)
The launch follows new research commissioned by Square, which shows that while more than half (53%) of UK SMEs have used AI in their business, only 30% use it regularly. This low level of adoption is leaving many businesses experimenting without seeing value, or not yet taking advantage of AI at all.
The research found that UK businesses rely heavily on instinct to run their operations: 51% of SME owners describe themselves as instinct-led, compared with just 19% who rely on data to make decisions. Combining gut feel with data is the secret sauce for businesses, however: almost three in four (74%) UK SME owners say they feel more confident when instinct is combined with insight.
“Across our markets, we’re already seeing businesses use Square AI to get clearer on their performance, make faster decisions, and spend less time buried in reports,” said Willem Avé, Global Head of Product at Square. “Businesses generate enormous amounts of data every day through payments and commerce. For a long time, turning that data into real insight has been something reserved for larger organisations with analysts and operations teams. Square AI levels the playing field by bringing powerful analytics into the flow of running a business, through a simple, conversational AI assistant. It enables businesses of every size to combine their instinct with real data, without complexity.”
Because Square brings together payments, sales, and day-to-day business operations in one place, it already has a uniquely clear, unified view of how businesses run. Square AI is built to work across that existing ecosystem, helping businesses turn the information they already rely on into clearer insight, without needing separate tools, integrations, or manual analysis.
Square AI is a free tool built directly into Square’s platform, making it simpler and more cost-friendly to adopt advanced AI tools. Already in use by several UK businesses during early access, Square AI is helping operators get rapid answers from their vast datasets, and spend less time pulling reports. The tech provides:
Deeper, context-aware business insight, combining a seller’s own data with relevant local information such as weather, events, and neighbourhood trends (for example, the impact of a wet weekend or a local football match) to inform staffing, inventory, and promotions;
Natural, conversational interaction, allowing business owners to ask questions in everyday language (such as how sales compare to last year or which items are selling best) and get instant answers without digging through reports or dashboards;
Real time insights on business performance, with AI-generated charts and views that can be pinned so key trends are always visible (for example, daily takings, peak trading hours, or week-on-week performance);
Conversation history, enabling owners to revisit previous questions and continue exploring insights over time (such as tracking whether a staffing change or promotion made a difference);
Mobile access, so insights and answers are available on the Square Dashboard app (whether owners are on the shop floor, between tables, or away from the business).
UK businesses are time poor, but are being forced to spend more time than they need analysing data (4.3 hours per week) and running admin and reporting (2.3 hours).
Freeing up that time would be crucial for businesses. When asked how they’d spend time given back, respondents said they’d focus on improving their work-life balance (37.2%); find ways to market or promote their business (36.2%); explore new ideas or focus on business growth (35.0%); and spend more time building relationships with customers (32.4%). The research underlines that the real value of AI is not just about doing less, it’s about giving business owners time back to spend on whatever is most important to them.
“UK businesses are operating in a tough environment right now, with rising costs, staffing pressure, and little margin for wasted time,” said John O’Beirne, CEO and Executive Director of Square International. “Where Square AI comes in is backing everyday decisions with clarity and confidence, while giving owners meaningful time back each week to focus on what matters most: their customers and their success. It's built to feel practical, familiar, and trustworthy, because that's what UK businesses need to keep moving forward.”
One UK business that has been using Square AI during early access is Brickwood Coffee & Bread, an Aussie-inspired, multi-location, South London-based cafe.
“[Square AI] is really useful for owner-operators, because it gives you quick answers to straightforward questions,” said Jayke Mangion, owner of Brickwood. “Whether it’s: ‘how many croissants did we sell last week?’ or ‘how did revenue compare to this day last year?’, you can get the insights instantly and can make decisions faster.”
Square’s research also shows UK businesses respond best to AI when it is positioned as a practical assistant rather than abstract technology. 53% agree AI helps them make more informed decisions, 43% say it could help them understand their business data more easily, and 41% say they want an assistant that digs into their data and identifies opportunities while they focus on what matters most.
Square AI uses everyday, conversational language to help business owners get answers from their data, with no training or technical setup required.
At the same time, trust remains a key barrier. 40.6% of UK SME owners say they do not trust AI to make recommendations without oversight, and 42% say clearer information about how their data is used would increase their comfort. Built directly into Square’s established commerce platform, Square AI offers a familiar and transparent entry point into AI for businesses already trusting Square with payments and operations.
Adoption is strongest in sectors like food and beverage, where businesses are already leaning into AI to improve operations, service, and day-to-day decision making.
Square AI is free for UK sellers to use and works inside the tools they already rely on, supporting everyday decisions without replacing human judgement.
Square AI will be available to UK sellers from February 2026.
Research conducted by Censuswide among 500 UK SME owners between 29 December 2025 and 9 January 2026.
About Square
Square helps businesses turn transactions into connections and businesses into neighbourhood favourites.
In 2009, Square started with a simple invention – the first mobile card reader, which changed how the entire financial system thinks about small businesses. Square has since grown into a global business platform helping millions of sellers of all sizes participate and thrive in their communities.
Whether independently run or a global chain, Square understands that sellers succeed when they have the freedom to focus on the experiences that keep customers coming back. From point of sale and payments to online commerce, staff management, banking, and more, Square brings together the tools sellers need to run and grow on one intelligent platform. For more information, visit squareup.com/uk.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260210922162/en/
press@squareup.com
Original: Introducing Square AI: Helping UK Small Businesses Turn Instinct Into Confident Decisions
US Market News
4月前
Second Generation Square Register Delivers More Speed, Power, and Reliability to the NeighborhoodFebruary 4, 2026 1:00 PM
Business Wire
Design improvements and a big under-the-hood upgrade make Square’s professional-grade point-of-sale system more durable and 40% faster for lightning quick checkouts and increased responsiveness
Today, Square launched the second generation of Square Register, the company's flagship countertop point-of-sale device. Building on the success of the original Square Register, the revamped hardware delivers significant performance improvements and enhanced reliability, helping sellers more seamlessly manage operations, provide high quality customer experiences, and keep orders flowing during their busiest periods.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260204804070/en/Square Register (Second Generation) (Photo: Square)
Originally launched in 2017, Square Register was Square’s first professional-grade, fully integrated point-of-sale device, built with both seller- and buyer-facing screens to provide larger sellers with a premium, end-to-end system. The iconic dual-screen set up, with a detachable, customizable customer display, gave buyers a transparent and swift checkout experience, complete with integrated payments acceptance, while helping sellers keep pace with complex business needs and high-volume counters. Since then, Square Register has become a fundamental solution for upmarket businesses like Thisbowl and Katz’s Delicatessen: last year in the U.S., 62% of Food and Beverage (F&B) sellers who generated $500k or more in annual GPV used a Square Register.
The second generation Square Register elevates the experience introduced by its predecessor, bringing even more advanced performance to businesses of any scale and complexity. Equipped with a more powerful processor, expanded memory, and an upgraded Wi-Fi antenna, the new Register works up to 40% faster, powering snappier and more reliable launching, loading, and navigation experiences on both sides of the counter to help sellers and buyers gain time in the heat of the rush. Additionally, the new hardware is designed for durability with an IP54 rating and a redesigned angled, reinforced card dip slot to withstand everyday spills, splashes, and dust.
Engineered with Square’s unified Point of Sale app at its core, the new Register’s enhanced performance delivers the power and speed that modern, high-volume commerce requires. From local coffee chains managing the morning rush with complex drink customizations and popular breweries navigating the flurry of happy hour tabs; to specialty grocers with large catalogs and frequent changes – the new Square Register boasts powerful software and hardware to ensure sellers’ operations never lag behind the needs of their business and customers, no matter their scale.
"For nine years, Kona Coffee Roasters has created a space to bring the relaxed spirit of Hawaii to one of the busiest cities in the world," said Tae Kim, founder of New York City-based Kona Coffee Roasters. "The enhanced speed and responsiveness of the new Square Register empowers our team to provide better, faster service and a smoother checkout process, particularly during the morning rush. This means customers spend less time at the point of sale and more time enjoying their coffee, their community, and a small slice of Aloha."
The new Square Register represents the latest development in Square's industry-leading hardware engineering practice. Following in the footsteps of last year’s introduction of Square Handheld, today’s launch reaffirms Square’s commitment to consistently producing solutions that combine tasteful design with robust functionality to help neighborhood businesses – from single-location shops to hundred-location franchises – deliver better outcomes for their customers and their bottom line.
"When we first launched Square Register, businesses had narrower requirements for their POS systems. Today, sellers are using their countertop devices to take payments, fire kitchen tickets, organize online orders, coordinate delivery schedules, and manage inventory – all while trying to provide faster, more personalized service than ever before,” said Thomas Templeton, Block’s Head of Hardware. “Our hardware design philosophy has always been guided by seller feedback and the real-world conditions they operate in. With the second generation Square Register, we're marrying durable design, more powerful processing, and software that's purpose-built to handle the reality of modern commerce, giving sellers a tool that makes their increasingly demanding job easier."
Beginning today, the new Square Register is available online across Square’s North American and European markets, with full international availability in the coming weeks. Sellers in the U.S. can purchase the new Register at Square Shop, starting at $899. The device is compatible with a variety of existing Square Register accessories and works seamlessly with Square's wider ecosystem of commerce solutions. For more information, visit squareup.com/hardware/register
About Square
Square helps businesses turn transactions into connections and businesses into neighborhood favorites.
In 2009, Square started with a simple invention – the first mobile card reader, which changed how the entire financial system thinks about small businesses. Square has since grown into a global business platform helping millions of sellers of all sizes participate and thrive in their communities.
Whether independently run or a global chain, Square understands that sellers succeed when they have the freedom to focus on the experiences that keep customers coming back. From point of sale and payments to online commerce, staff management, cash flow tools, and more, Square brings together the tools sellers need to run and grow on one intelligent platform. For more information, visit squareup.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260204804070/en/
press@squareup.com
Original: Second Generation Square Register Delivers More Speed, Power, and Reliability to the Neighborhood
barnyarddog
11月前
....Founded by Jack Dorsey in 2009, Square changed its name to Block in 2021 to emphasize its focus on blockchain technologies....
....Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images
Jul 18 2025
https://www.cnbc.com/2025/07/18/block-shares-soar-on-entry-into-sp-500.html
Block, Inc. engages in creating ecosystems for distinct customer audiences. It operates through the Square and Cash App segments. The Square segment provides payment services, software solutions, hardware, and financial services to sellers. The Cash App segment includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin and stock investments. It also includes Cash App Card, which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. The company was founded by Jack Patrick Dorsey and James Morgan McKelvey in February 2009 and is headquartered in Oakland, CA.
https://block.xyz/
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