Deutsche Bank analyst Brian Bedell initiated coverage of Coinbase Global (Nasdaq: COIN) stock with a buy rating and a $340 price target Wednesday. “We see the company benefiting financially from the next stage of its evolution by leveraging its long-established solid market position within the crypto ecosystem into a much broader on-chain platform,” said Bedell.
“This strategy should substantially widen the firm’s addressable markets (both retail and institutional), diversify its product/service range, while helping to mitigate potential future pricing pressure within retail crypto trading,” he added, predicting revenue will outgrow costs, and profit margins will rise.
Despite the analyst’s positive sentiments, Coinbase stock is approaching the end of the trading day down more than 3%. The Voo is still down, too — about 0.9%.
Small, outdoor equipment manufacturer Toro Company (NYSE: TTC) “beat by a penny” this morning, reporting fiscal Q4 2025 earnings per share of $0.91, on revenue of $1.07 billion, which was also slightly better than expected.
Toro proceeded to raise guidance for fiscal 2026, predicting it will earn between $4.35 and $4.50 per share, also well above expectations. Toro stock is up 8.8% on the news, whereas the Voo has now turned tail and is down 0.7%.
General Mills (NYSE: GIS) stock beat earnings by 8 cents this morning, reporting a fiscal Q2 2026 profit of $1.10 per share on sales of $4.9 billion, also ahead of estimates. The cereal company said its top priority in fiscal 2026 will be to resume sales growth in terms of volumes produced, despite a “challenging consumer backdrop.”
Currently, the company is looking for organic sales (in terms of dollars sold) to be roughly flat year over year, plus or minus 1%. Earnings are expected to decline 10% to 15% this year.
General Mills stock opened 0.7% higher this morning, while the Voo held onto its 0.2% gain.
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The Vanguard S&P 500 ETF (NYSEMKT: VOO) closed down 0.2% on Tuesday, its third straight day of losses, after the U.S. Bureau of Labor Statistics reported fewer job losses for October, and more jobs gained in November — but unemployment and underemployment both on the rise. As Wednesday dawns, however, the market seems poised for a turnaround and is up 0.3% premarket.
What’s moving the market today? Well, yesterday’s announcement by the Trump Administration of a “total and complete” blockade against sanctioned oil tankers attempting to visit or exit Venezuelan ports is certainly a big part. Oilprice.com is reporting about a 1.5% spike in prices of both WTI crude oil and Brent crude, the international benchmark.
WTI costs more than $56 a barrel today, and Brent nearly $60, and these prices could continue to rise. CNBC reports that the blockade “could potentially impact 0.4-0.5 million barrels of oil per day, lifting prices by $1-2 per barrel.”
In other news, Oracle (NYSE: ORCL | ORCL Price Prediction) shares are under pressure this morning after The Financial Times reported that Blue Owl Capital will not support a $10 billion deal for Oracle to build a new data center in Michigan, in support of Oracle’s data processing contract with OpenAI.
The AI bubble hasn’t exactly popped yet, but it does seem to be seeing some pressure this morning, an Oracle shares are down 2% premarket.
Meanwhile in China, a report that the government will revoke mining permits for lithium is giving a lift to shares of global lithium miners, on worries about a supply crunch. Shares of Sociedad Química y Minera de Chile S.A. (NYSE: SQM) are up nearly 5% this morning, and Albemarle (NYSE: ALB) is up nearly 4% premarket.
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Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.
He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.
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