Market Overview - U.S. stock futures declined slightly after major indices posted gains for two consecutive days [1] - The Dow Jones, S&P 500, Nasdaq 100, and Russell 2000 showed minor declines in premarket trading [4] Economic Data - U.S. Final GDP for Q3 was reported at 4.4%, exceeding estimates of 4.3% [2] - The Personal Consumption Expenditures (PCE) price index increased by 2.8% year-over-year, aligning with estimates [2] - The 10-year Treasury bond yield was at 4.23%, while the two-year bond yield was at 3.60% [3] Stocks in Focus - **Capital One Financial Corp.**: Shares fell by 3.31% in pre-market trading after Q4 results missed analyst expectations [6] - **Revelation Biosciences Inc.**: Shares surged by 38.11% after announcing an agreement with the FDA for its drug Gemini [6] - **Intel Corp.**: Shares dropped over 12% due to a weak Q1 outlook that fell short of analyst estimates [6] - **CSX Corp.**: Shares increased by 2.99% despite missing consensus estimates on both revenue and earnings [6] Sector Performance - Energy, materials, consumer discretionary, and healthcare sectors led gains in the S&P 500 on Thursday [7] Analyst Insights - Bank of America's fund manager survey indicated institutional investors are the most bullish since 2021, with 38% expecting stronger global growth [9] - The Bull & Bear Indicator rose to 9.4, indicating high optimism among investors [10] Commodities and Crypto - Crude oil futures rose by 1.03% to approximately $59.97 per barrel [11] - Gold Spot price increased by 0.19% to around $4,918.76 per ounce [11] - Bitcoin traded 0.40% lower at $89,258.41 per coin [11]

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Capital One Financial said Thursday it will buy the tech startup Brex for $5.15 billion in cash and stock, giving the bank an established financial technology company that integrates cards, payments and banking in a single offering. “Since our founding, we set out to build a payments company at the frontier of the technology revolution,” Capital One ...

Core Viewpoint - Capital One CEO Richard Fairbank warns that President Trump's proposed 10% cap on credit card interest rates could severely limit consumer access to credit and destabilize the economy [1][2]. Group 1: Economic Impact - Fairbank argues that implementing a price control on credit will not make it more affordable but will reduce its availability across the credit spectrum [2]. - He emphasizes that consumer credit is crucial to the U.S. economy, with 70% of GDP driven by consumer spending, and $6 trillion of that spending occurring on credit cards [2]. - A significant reduction in available credit could lead to economic shocks and potentially trigger a recession due to decreased consumer spending [2]. Group 2: Company Vulnerability - Analysts indicate that Capital One is particularly vulnerable to interest rate caps due to its reliance on revolving credit card balances and net interest income [3]. - The company reported $279.6 billion in credit card loans, which is the largest portion of its total loan portfolio of $453.6 billion [3]. Group 3: Industry Reactions - Other industry experts, including JP Morgan Chase CEO Jamie Dimon, have echoed Fairbank's concerns, stating that the proposal could remove credit access for 80% of Americans and lead to economic disaster [4]. - John Garner, CEO of Odynn, notes that consumers with less-than-perfect credit would be the first to feel the negative effects of the proposed cap, suggesting it would not create a level playing field but rather shrink access to credit [5]. Group 4: Financial Performance - Capital One reported fourth-quarter revenue of $15.58 billion, a 52.92% increase year-over-year, surpassing consensus estimates of $15.48 billion [5]. - However, the company missed earnings expectations with a reported $3.86 per share, below the consensus estimate of $4.11 per share [6]. - Following the earnings miss, Capital One's stock fell 3.31% in after-hours trading, despite a 1.76% increase during regular trading hours [7].

Capital One Financial Corp. has agreed to acquire fintech startup Brex in a deal valued at $5.15 billion, the transaction was disclosed on Thursday. Under the terms of the agreement, Capital One will ... ...

该公司表示，预计将在今年年中完成对Brex的收购，且其首席执行官佩德罗.弗朗切斯基(Pedro Franceschi)将继续领导该业务。Brex在2022年1月的估值曾达到123亿美元，并在去年曾考虑首次公开募 股。弗朗切斯基在交易宣布后接受采访时表示："如果你看看当前在公开市场交易、与Brex类似公司的 估值倍数，这笔交易的溢价水平非常高。" 对此，第一资本信贷首席执行官理查德.费尔班克(Richard Fairbank)表示，这样的利率上限将减少信贷供 应，并可能使美国经济陷入衰退。他补充称："可用信贷的大幅收缩可能会对整个经济造成多重冲击。" 与此同时，第一资本信贷透露，计划以约50%现金和50%股票的方式收购非上市企业Brex。这笔交易将 成为第一资本信贷自去年以约350亿美元收购Discover Financial Services以来规模最大的一次收购，那次 收购创造了美国最大的信用卡贷款机构。费尔班克指出："自成立以来，我们一直致力于在技术革命的 前沿打造一家支付公司。收购Brex将加速这一进程，尤其是在企业支付市场。" 第一资本信贷(COF.US)周四公布了其2025年第四季度业绩，并宣布以5 ...

Core Viewpoint - Capital One's acquisition of Brex for $5.2 billion is a strategic move to enhance its business banking and payments capabilities, expanding beyond traditional card offerings [1][5][9] Group 1: Acquisition Details - The acquisition aims to integrate Brex's platform of business cards, spend management software, and banking services into Capital One's operations, addressing the fragmented tools currently used by businesses [5][7] - CEO Richard Fairbank emphasized that Brex's technology allows Capital One to reach a wider range of businesses, from startups to global enterprises, without the need to rebuild infrastructure [10][11] Group 2: Market Context - The business payments market is estimated at approximately $2 trillion in annual purchase volume, with a growing trend as companies shift away from cash and checks [9] - The business card market is growing at about 9% annually, with Brex experiencing even faster growth [10] Group 3: Financial Performance - Capital One's credit metrics are improving, with domestic card charge-offs declining and delinquency rates aligning with seasonal patterns, indicating a stabilization in credit performance [11] - Consumer spending remains resilient, with purchase volumes on Capital One's cards increasing by 6.2% excluding the impact of Discover operations [12] Group 4: Regulatory Concerns - Fairbank warned of potential "unintended consequences" from proposed regulations to cap credit card interest rates, suggesting that such measures could reduce access to credit and negatively impact consumer spending [14][15] Group 5: Future Integration - Brex will be integrated alongside Capital One's existing initiatives, including the Discover acquisition, with initial earnings dilution expected but no changes to capital plans or share repurchase cadence [16]

Stock Market Overview - U.S. stocks finished higher with the Dow Jones Industrial Average up 0.6% to 49,384.01, S&P 500 up 0.55% to 6,913.35, and Nasdaq up 0.9% to 23,436.02 [1] Intel Corporation - Intel reported fourth-quarter revenue of $13.67 billion, exceeding estimates of $13.37 billion, with adjusted earnings of 15 cents per share compared to expectations of 8 cents [2] - Revenue declined 4% year over year, with Client Computing down 7% to $8.2 billion, while Data Center and AI revenue rose 9% to $4.7 billion [2] - For the first quarter, Intel guided revenue between $11.7 billion and $12.7 billion, projecting breakeven adjusted earnings [2] - Intel's stock rose by 0.13% to close at $54.32, but slipped 11.4% in after-hours trading to $48.11 [1][2] GE Aerospace - GE Aerospace reported fourth-quarter adjusted EPS of $1.57, beating estimates of $1.39–$1.44, on revenue of $11.87 billion, above expectations of $11.24 billion [4] - Commercial Engines & Services revenue increased to $9.47 billion, driven by a 31% year-over-year increase in Services [4] - For 2026, GE guided adjusted EPS of $7.10 to $7.40 and free cash flow of $8.0 billion to $8.4 billion [4] - GE Aerospace shares fell by 7.41% to close at $295 [3][4] Intuitive Surgical Inc - Intuitive Surgical reported fourth-quarter revenue of $2.87 billion, beating estimates of $2.75 billion, with adjusted EPS of $2.53 compared to expectations of $2.26 [6] - Revenue rose 19% year over year, supported by an 18% increase in worldwide da Vinci procedures [6] - The stock increased by 0.40% to close at $525.81, rising 2.38% in extended trading to $538.30 [5][6] Capital One Financial Corp - Capital One reported fourth-quarter earnings of $3.86 per share, missing estimates of $4.11, while revenue was $15.58 billion, beating expectations [8] - Total net revenue rose 1% to $15.6 billion, but pre-provision earnings fell 12% to $6.2 billion due to a 13% increase in non-interest expenses [8] - The company confirmed an agreement to acquire fintech Brex Inc. for $5.15 billion, split between cash and stock [8] - Capital One's stock rose by 1.76% to close at $235.07, but fell 3.3% in after-hours trading to $227.30 [7][8] Meta Platforms Inc - Meta Platforms' stock surged by 5.66% to close at $647.63, with an intraday high of $660.57 [10] - The company announced the global rollout of ads on its Threads platform, which has over 400 million monthly active users [10]

Core Viewpoint - Capital One plans to acquire Brex, an expense management platform, for $5.15 billion, aiming to enhance its technological capabilities and market position in the financial services sector [1][2]. Group 1: Acquisition Details - The companies have signed a definitive agreement, with the transaction expected to close mid-year, subject to customary closing conditions [2]. - Brex's platform is AI-native, automating complex workflows for businesses, including issuing corporate cards and managing expenses [2]. Group 2: Strategic Implications - Richard D. Fairbank, CEO of Capital One, stated that the acquisition will accelerate the bank's efforts to be at the forefront of the technology revolution [2]. - Brex's platform serves tens of thousands of businesses, including one in three U.S. startups and over 300 public companies [3]. Group 3: Leadership and Future Plans - Brex Founder and CEO Pedro Franceschi will continue to lead Brex as part of Capital One post-acquisition [3]. - Franceschi emphasized that the combination of Brex's technology and Capital One's scale will significantly enhance their market and product development efforts [5]. Group 4: Financial Metrics - Capital One has $900 billion in annual card gross merchandise value, $700 billion in assets, and a market cap of $150 billion [4]. - The bank allocates $6 billion each for marketing and research and development [4]. Group 5: Recent Developments - Brex has recently partnered with Fifth Third Bank for a commercial card and announced plans to integrate stablecoin payments into its global corporate card [6]. - Capital One's acquisition of Discover Financial Services marked a new era for the bank, enhancing its size and capabilities in the banking and card sectors [7].

Core Viewpoint - Capital One plans to acquire Brex, an expense management platform, for $5.15 billion, aiming to enhance its technological capabilities and market position in the financial services sector [1][2]. Group 1: Acquisition Details - The companies have signed a definitive agreement, with the transaction expected to close mid-year, subject to customary closing conditions [2]. - Brex's platform is AI-native, automating complex workflows for businesses, including issuing corporate cards and managing expenses [2]. Group 2: Strategic Implications - Richard D. Fairbank, CEO of Capital One, emphasized that the acquisition will accelerate the bank's efforts to lead in technology innovation [2]. - Brex's founder, Pedro Franceschi, will continue to lead the company post-acquisition, aiming to create a significant financial platform for U.S. businesses [3]. Group 3: Brex's Market Position - Brex serves tens of thousands of businesses, including one-third of U.S. startups and over 300 public companies [3]. - The platform integrates corporate credit cards, spend management software, and banking services [3]. Group 4: Capital One's Financial Strength - Capital One has $900 billion in annual card gross merchandise value, $700 billion in assets, and a market cap of $150 billion [4]. - The bank allocates $6 billion each for marketing and research and development [4]. Group 5: Future Growth Potential - The combination of Brex's technology and Capital One's scale is expected to significantly enhance product development and market reach [5]. - Recent collaborations by Brex, including partnerships with Fifth Third Bank and Oracle, indicate its proactive approach in the financial technology space [6]. Group 6: Recent Developments - Capital One's acquisition of Discover Financial Services marks a new era for the bank, enhancing its size and capabilities in the banking and card sectors [7].

There’s a feeling of schadenfreude in Silicon Valley when a unicorn stumbles. So when the WSJ broke the news Thursday afternoon that Capital One will acquire Brex for $5.15 billion in cash and stock (Capital One issued an official release confirming the details thirty minutes later), you could practically hear the collective snickering from Sand Hill Road to San Francisco’s South Park. That figure represents less than half of Brex’s last private-market valuation of $12.3 billion from its 2022 Series D-2 rou ...