Bitcoin falls 2.6% as miners turn profitable again

The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day. 1234 ET - Miners of bitcoin were operating in negative territory earlier this year, but with bitcoin's surge in September they've become profitable again, says analysts with CryptoQuant in a note. The firm says that miners turned positive in late August, which happened when bitcoin crossed $76,000.

Since turning positive, miners are no longer dumping bitcoin to stay afloat, but are able to accrue supplies once again. "Miners flipped from 'extremely underpaid' to 'fairly paid,' and no extreme outflows have followed," says the firm. But a rebuilding in the balances of miners has yet to begin in earnest, says CryptoQuant. 6% to $81,272.

com) 1215 ET - The Seminole Tribe of Florida filed a lawsuit against DraftKings alleging the sports-betting platform's prediction markets app constitutes illegal gambling. The tribe says in its lawsuit that DraftKings' super app, which offers prediction markets in states where sports betting is illegal, is "functionally identical" to the company's licensed sportsbook offerings. There is no distinction between a bet placed through DraftKings' sportsbook and a trade placed on its prediction markets platform, the tribe claims. The tribe also notes that DraftKings' marketing for the prediction markets product includes a gambling addiction hotline and ads for bonus wagers.

com) 1210 ET - PepsiCo CEO Ramon Laguarta says that some of the problems plaguing the company's North American business are external. "There's clearly inflation, and there are some parts of the consumer base that are making choices," he says in an interview with CNBC. That being said, some of the problems are within PepsiCo's control to fix. "There's an opportunity for us to compete better in some categories," Laguarta says, pointing to the company's carbonated soft drink business that is in need of additional investment and improved execution.

S. business remains PepsiCo's top priority, he concludes. com) 1159 ET - Qatar's LNG exports are likely to remain constrained in the near term, but a sustained recovery in Hormuz transits could trigger a sharp increase in flows next year as the expansion of the North Field offsets lasting damage to existing capacity, Capital Economics' Jason Tuvey says. Current indicators suggest exports remain very low, although the data may understate flows as some tankers appear to be switching off their transponders.

A sustained recovery in transits is expected from early next year, according to the economist. Damage to the Ras Laffan facility has knocked out around 17% of Qatar's LNG capacity for three to five years. However, the first train of the North Field East project is reportedly ready to start, Tuvey says, raising capacity by 43%. The second and third phases, due by 2030, are expected to lift capacity by a further 30%.

com) 1158 ET - Levi Strauss is benefiting from overall strength in the denim industry, JPMorgan analysts say. While the company hit some snags in the latest quarter, the overall denim category remains healthy and Levi is gaining market share, the analysts say. Management emphasized greater energy in the industry with increased competition, which prompted Levi to increase investments and marketing in certain areas, including low-rise jeans. On top of that, Levi has further growth opportunities in its tops and denim lifestyle categories, as well as its Asia business and women's clothing segment, the analyst say.

S. That being said, the company's main focus is to continue to invest in its brands, executing on its strategy to grow the business. At this point, there are no plans to separate PepsiCo's snacks and beverage businesses: "No, that's not what we're thinking about," Laguarta says in an interview with CNBC, when asked about a potential split. com) 1148 ET - Levi Strauss's most recent quarter was "a little messy," Raymond James analysts say.

S. products didn't resonate with shoppers and there wasn't enough inventory in key low-rise styles, the analysts say. Levi is reinvesting some of its tariff refunds into the business and the business has started to improve, however. The analysts also debate whether elevated spending on marketing and promotions will persist into the next fiscal year and weigh on profitability.

6%. com) 1119 ET - David Ellison says all the work it took to complete his $81 billion deal to combine Paramount with the much larger Warner Bros. Discovery was well worth it. "The reason why we went through everything that we did is because with the combination, and the completion of this transaction, we are positioned to win in every single vertical that we operate in," Ellison says in an interview with CNBC.

Ellison adds that the combined company, called Skydance, has "the greatest content engine with marquee intellectual property," as well as the ability to immediately scale its streaming, sports and linear portfolios. com) 1047 ET - A strong El Nino could provide some relief for Europe's natural-gas market over the coming months, says Capital Economics' David Oxley. Warmer-than-average temperatures would reduce heating demand from households and small businesses, lowering overall gas consumption. At the same time, stronger winds could increase electricity generation from wind power, further reducing reliance on gas-fired power generation.

This would be particularly helpful given that European gas storage levels are currently around 18 billion cubic meters below their five-year average, according to the economist. Lower demand could therefore reduce competition with Asia for limited global LNG supplies and limit the risk of a sharp increase in gas prices. Capital Economics forecasts the Dutch TTF contract, Europe's benchmark, to end the year at 80 euros a megawatt-hour, broadly in line with current levels. com) 1045 ET - Celestica's 3Q will likely top expectations, says CIBC's Todd Coupland, who sees improving visibility and a strong slate of big tech customers.

" He also sees additional upside from hyperscalers tied to the AMD Helios platform. For 2027, he sees OpenAI and AMD Helios to each contribute more than 10% of revenue. 6T networking programs starting in late 2026. com) 0920 ET - PepsiCo has a twofold strategy to grow its North American business, CEO Ramon Laguarta says on a call with analysts.

Consumers continue to feel stressed, so now more than ever, it is important to provide value. "We don't expect the consumer to suddenly be in a much better place in the next 12 to 18 months," Laguarta says, adding the company will continue to focus on offering affordable, compelling price points. The second piece is to evolve its portfolio to be more in line with current consumer tastes, Laguarta says. That includes offering more pack sizes, as well as retooling its products to have more protein and fiber, or to remove artificial colors and flavors.

com) 0910 ET - Porsche executives used the investor event to say all the right things about becoming a more exclusive brand and product positioning, cost optimization, capital efficiency and cash returns, Jefferies analyst Philippe Houchois writes. The tone was also sober though, reflecting high market uncertainty. Also sobering was guidance steered to the lower half of the 10%-15% mid-term operating margin, Jefferies adds. Guided margin expansion looks modest, considering the magnitude of cost adjustments and new models, the bank says.

Porsche had already reset volume expectations for 2027, but Jefferies sees some risk to 2028 consensus given uncertainty on launches. The timeframe for improvement, current valuation multiples and pressure on consensus keep the bank's stock rating at hold. It has a 49 euro price target. 26 euros.

com) (END) Dow Jones Newswires October 08, 2026 12:34 ET (16:34 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.