Intercontinental Exchange, Inc., together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The company operates regulated marketplaces for listing, trading, and clearing an array of derivatives contracts and financial securities, such as commodities, interest rates, foreign exchange, and equities, as well as corporate and exchange-traded funds; and trading venues, including regulated exchanges and clearing houses. It also offers energy, agricultural and metals, and financial futures and options; and cash equities and equity options, and over-the-counter and other markets, as well as listings and data and connectivity services. In addition, the company provides fixed income data and analytic, fixed income execution, CDS clearing, and other multi-asset class data and network services. Further, it offers proprietary and comprehensive mortgage origination platform, which serves residential mortgage loans; closing solutions that provides customers connectivity to the mortgage supply chain and facilitates the secure exchange of information; data and analytics services; and Data as a Service for lenders to access data and origination information. Intercontinental Exchange, Inc. was founded in 2000 and is headquartered in Atlanta, Georgia.

ICE appears to be a high-quality but already expensive business with strong profitability and moderate financial leverage. P/E of 22.7, P/S of 8.25, P/B of 2.88, and P/FCF of 18.65 are noticeably above the industry median, which limits re-rating potential and calls for a more cautious view on the target price. At the same time, profitability is very strong: gross margin of 98.6%, operating margin of 51.8%, and net margin of 38.3% are significantly above industry benchmarks, which supports earnings resilience. ROE of 13.8%, ROA of 2.56%, and ROI of 8.5% also look better than average and confirm efficient use of capital. The year-over-year trend is generally positive: ROE, ROA, ROI, operating margin, and net margin have improved, while earnings and revenue remain at high levels. Revenue and EBITDA are large in absolute terms, but growth does not appear to be accelerating, so the multiples already reflect a significant portion of the company’s fundamental strength. The debt burden is not critical, but debt/equity of 0.63 and long-term debt of $18.6 billion are higher than one would like for a more aggressive valuation, especially against the backdrop of very high valuation based on revenue and book value. Liquidity is mixed: a current ratio of around 1.0 is acceptable, but the quick ratio is zero, which for an investor means dependence on the structure of current assets and the financial business as a whole. Dividend yield is low and in the latest reading is effectively absent, so the dividend factor does not provide meaningful support to the valuation. The balance sheet is generally large and stable, equity is growing, and assets are high, but liabilities are also substantial, making this more of a quality story than a cheap one. Overall, the fundamentals justify a premium to the industry, but the current market valuation already looks generous, so the target forecast should be revised moderately downward. For an investor, this means ICE remains a strong long-term franchise, but near-term upside is limited by its high valuation and less attractive dividend profile.

Intercontinental Exchange Inc.

Сильный индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Strong index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Средний индекс, значительно упал. Рынок не поддерживает быков.

Medium index, significantly down. The market does not support the bulls.

Сильный индекс, без изменений. Отток средств из лонгов на высоком уровне.

Strong index, flat. Outflow of funds from longs at a high level.

Strong margins and sustained profit growth support ICE, but high valuation multiples and moderate debt make the stock already expensive.

(RTTNews) - On Monday, Intercontinental Exchange (NYSE: ICE) launched new tanker and container freight futures and options as trading volume across its freight markets increased 33% year-to-date. ICE is a leading provider of financial market technology and data for global capital markets.
ICE launched its first tanker freight futures for the TD34 Gulf of Oman-China and TD15 West Africa-China VLCC routes, giving customers another way to hedge freight costs amid restricted access through the Strait of Hormuz.
It also launched two cash-settled container freight options for Asia-North Europe and Asia-U.S. West Coast routes.
The new products expand ICE's freight complex to more than 90 contracts across over 30 global routes, helping customers manage shipping costs and freight rate volatility.
On the NYSE in the after-hours, the shares were trading 0.01 percent up at $152.15, after closing Monday's trading 1.33 percent higher.

Intercontinental Exchange Launches New VLCC Tanker And Container Freight Contracts

CME Group Inc. CME is strengthening its equity derivatives franchise by expanding beyond broad-market exposure into more targeted investment strategies. The company launched its E-mini Equity Factor futures on Sept. 21, giving institutional investors more targeted tools to manage equity exposure and implement factor-based strategies.
The contracts cover E-mini S&P 500 Growth, Value, Quality, Momentum and Low Volatility futures, along with E-mini Dow Jones U.S. Dividend 100 futures. By offering factor-based exposure through futures, CME can help investors hedge or adjust portfolios without trading the underlying securities.
The new contracts are also eligible for margin offsets with other cleared CME equity products, which potentially improves capital efficiency and encourages cross-product trading.
The strategy builds on the company’s June launch of four new E-mini Equity Index futures, highlighting its broader push to expand its benchmark suite and provide more ways to manage equity exposure. This could offer another avenue for volume growth as investors increasingly use factor-based strategies to build portfolios and manage risk.
The contracts are available on CME Globex and through privately negotiated transactions, including block trades, derived futures blocks and BTIC transactions. These trading mechanisms provide institutional participants with greater flexibility in executing larger or customized positions.
For CME, the opportunity will depend on adoption and liquidity. Higher trading activity and open interest could generate additional transaction and clearing revenue while strengthening its equity derivatives ecosystem. If liquidity develops, the contracts could become an additional source of volume growth for CME.
What About Its Peers?
Intercontinental Exchange, Inc. ICE expanded its derivatives offering in 2026 by launching economic indicator futures tied to central bank policy decisions and U.S. natural gas storage data, giving investors new tools to manage event-driven risks. Its diversified exchange network supports growth in trading and clearing activity.
Cboe Global Markets, Inc. CBOE expanded its index derivatives offering by launching daily expirations for Dow Jones Industrial Average options in May 2026. Its derivatives business also saw strong activity in August, with record average daily volume in Mini-S&P 500 Index options. Cboe Global’s expansion of listed derivatives provides additional avenues for trading and clearing volume.
CME’s Price Performance
Shares of CME have gained 5.5% over the past year against the industry’s decline of 7.9%.
Image Source: Zacks Investment Research
CME’s Valuation
From a valuation standpoint, CME Group trades at a forward price-to-earnings ratio of 21.75X, higher than the industry average of 20.31X.
Image Source: Zacks Investment Research
CME’s Estimates
The Zacks Consensus Estimate for CME Group’s 2026 and 2027 EPS indicates a year-over-year increase of 9.5% and 4.5%, respectively.
The Zacks Consensus Estimate for 2026 and 2027 earnings has remained unchanged over the past 30 days.
Image Source: Zacks Investment Research
The consensus estimate for revenues in 2026 and 2027 indicates an increase of 7.9% and 4.8%, respectively.
CME currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
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CME Group Expands Equity Derivatives With New Factor Futures

Last Friday, the three benchmark stock indexes on Wall Street closed a mixed week. The Nasdaq Composite climbed 0.72%, helped by strength in semiconductor stocks, while the S&P 500 edged down 0.1%. The Dow Jones Industrial Average bore the brunt of the selling, falling 1.69% – its worst weekly decline since March.
Investor focus remained firmly on inflation and monetary policy. Benchmark U.S. Treasury yields moved above 5%, raising concerns about tighter financial conditions, while crude oil prices stayed above $100 per barrel. The combination kept inflation risks prominent and added pressure to equities.
Markets also digested the Fed’s widely anticipated 25-basis-point interest rate hike and its aftermath. Higher borrowing costs and elevated yields weighed on sentiment, particularly across rate-sensitive areas. Still, gains in semiconductor stocks provided a boost to technology shares, helping the Nasdaq outperform the other major benchmarks for the week.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
PBF Energy and Delek US Surge Following Zacks Rank Upgrade
Shares of PBF Energy Inc. PBF have gained 20% (versus the S&P 500’s 1.9% increase) since it was upgraded to a Zacks Rank #1 (Strong Buy) on July 23.
Another stock, Delek US Holdings, Inc. DK, which was also upgraded to a Rank #1 on July 23, has returned 18.1% since then.
A portfolio of Zacks # 1 Rank (Strong Buy) stocks has outperformed the S&P 500 index by 2.3 percentage points this year. Through August 3rd this year, the Zacks # 1 Rank portfolio returned +12.08%, which compares to a +9.78% gain for the S&P 500 index and a +10.41% gain for the equal-weight version of the index in the same time period.
Since its inception in 1988, this portfolio of Zacks # 1 Rank stocks has outperformed the market by 12.4 percentage points. The average annual return for this portfolio of Zacks # 1 Rank stocks since inception in 1988 was +23.9% through August 3rd, which compares to a +11.5% gain for the S&P 500 index and a +11.3% gain for the equal-weight version of the index.
Check PBF’s historical EPS and Sales here>>>
Check Delek US’ historical EPS and Sales here>>>
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Zacks Recommendation Upgrades Avidia and Chemung Financial
Shares of Avidia Bancorp, Inc. AVBC and Chemung Financial Corporation CHMG have surged 11.6% and 11.3% (versus the S&P 500’s 3.1% rise), respectively, since their Zacks Recommendation was upgraded to Outperform on July 24.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks Palantir, Adobe Shoot Up
Shares of Palantir Technologies Inc. PLTR, which belongs to the Zacks Focus List, have soared 38.3% over the past 12 weeks. The stock was added to the Focus List on March 26, 2024. Another Focus-List holding, Adobe Inc. ADBE, which was added to the list on March 13, 2020, has returned 27.6% over the past 12 weeks. The S&P 500 has advanced 2% over this period.
The 50-stock Focus List portfolio returned +19.86% in the year-to-date period (through August 31, 2026) vs. +13.14% for the S&P 500 index and +15.59% for the equal-weight version of the index.
The portfolio returned +22.1% in 2025 vs. +17.9% for the S&P 500 index and +11.4% for the equal-weight version of the index.
The Zacks Focus List portfolio returned +18.41% in 2024 vs. +25.04% for the S&P 500 index and +13% for the equal-weight S&P 500 index. The portfolio had returned +29.54% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio returned -15.2% vs. the S&P 500 index’s -17.96%.
Through August 31, 2026, the portfolio’s rolling returns on a one-year, three-year, five-year, ten-year, and since 2004 have been +28.7% (vs. +20.4% for the S&P 500 index), +24.1% (vs. +21.1%), +13.6% (vs. +12.8%), +17.1% (vs. +15.4%) and +12.7% vs. (+11%), respectively.
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Zacks ECAP Stocks Thermo Fisher & Intercontinental Exchange Gain Significantly
Thermo Fisher Scientific Inc. TMO, a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 40.2% over the past 12 weeks. Intercontinental Exchange, Inc. ICE followed Thermo Fisher with 16.1% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy-and-Hold stocks, returned -9.4% in the first half of 2026 (through June 30th) vs. +10.2% for the S&P 500 index.
For 2025, the portfolio returned -1.67% vs. a +17.9% gain for the S&P 500 index. For the year 2024, the portfolio returned +16.26% vs. +24.89% for the S&P 500 index (SPY ETF). In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
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Zacks ECDP Stocks Quest Diagnostics & Automatic Data Outperform Peers
Quest Diagnostics Incorporated DGX, which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 26.4% over the past 12 weeks. Another ECDP stock, Automatic Data Processing, Inc. ADP, has climbed 24.2% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
Check Automatic Data’s dividend history here>>>
With an extremely low beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) returned -1.7% in the first half of 2026 (through June 30th) vs. +10.2% for the S&P 500 index and +9.03% for the Dividend Aristocrats ETF (NOBL).
The portfolio returned -0.6% in 2025 vs. a +6.8% gain for the Dividend Aristocrats ETF. For the full year 2024, the portfolio returned +6.95% vs. +24.89% for the S&P 500 index and +6.72% for NOBL. The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
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Zacks Top 10 Stock Monolithic Power Delivers Solid Returns
Monolithic Power Systems, Inc. MPWR, from the Zacks Top 10 Stocks for 2025, has jumped 30.1% since January 5, 2026, compared with the S&P 500 Index’s 11.5% increase.
The Top 10 portfolio returned +15% in the year-to-date 2026 period (through August 31st) vs. +12.9% for the S&P 500 index and +14.8% for the equal-weight version of the index.
The Top 10 portfolio returned +22.6% in 2025 vs. +17.9% for the S&P 500 index and +11.4% for the equal-weight version of the index.
The Top 10 portfolio returned +62.98% in 2024, vs. +25.04% for the S&P 500 index and +13% for the equal-weight version of the index. The portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index.
Through the end of August 2026, the Top 10 portfolio has produced a cumulative return of +2,881.3% since 2012 vs. +648.5% for the S&P 500 index and +481.7% for the equal-weight version of the index. The portfolio has produced an average annual return of +25.8% in the period 2012 through August 31, 2026, vs. +13.6% for the S&P 500 index and +11.3% for the equal-weight version of the index.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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This article originally published on Zacks Investment Research (zacks.com).

Beat the Market Like Zacks: PBF, Palantir, Adobe in Focus

In trading on Friday, shares of Intercontinental Exchange Inc (Symbol: ICE) crossed above their 200 day moving average of $155.30, changing hands as high as $155.68 per share. Intercontinental Exchange Inc shares are currently trading up about 1.4% on the day. The chart below shows the one year performance of ICE shares, versus its 200 day moving average:
Looking at the chart above, ICE's low point in its 52 week range is $121.79 per share, with $176.05 as the 52 week high point — that compares with a last trade of $155.82. The ICE DMA information above was sourced from TechnicalAnalysisChannel.com
Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average »
Further ICE Research:

Intercontinental Exchange Breaks Above 200-Day Moving Average - Bullish for ICE

Robinhood Markets HOOD will be among the most closely watched beneficiaries of the Securities and Exchange Commission’s (“SEC”) Sept. 17 Innovation Exemption, which creates a five-year, conditional pathway for certain tokenized U.S. stocks to trade on blockchain-based Tokenized Securities Venues (TSVs).
The framework permits trading through permissioned automated market makers and liquidity pools. Still, it requires tokenized shares to provide holders the same rights and privileges as conventional shares, including dividends and voting rights. Issuers can block third-party tokenization by objecting within 30 days of receiving notice from the trading venue.
For Robinhood, this does not mean it can simply introduce its existing Stock Tokens in the United States. The company currently describes them as tokenized debt securities that are backed 1:1 by underlying shares but provide economic exposure rather than legal or beneficial ownership in the underlying company. They are also unavailable to U.S. residents. The SEC framework therefore provides a potentially clearer U.S. route, but Robinhood would have to structure qualifying products to satisfy shareholder rights and other TSV requirements.
Robinhood was already moving toward the SEC’s model before the announcement. Earlier this month, AMC CEO Adam Aron criticized Robinhood’s Stock Tokens for lacking traditional shareholder rights, while CEO Vlad Tenev opposed giving issuers veto power. After the dispute, Tenev said Robinhood plans to add one-for-one share redemption and voting rights. These changes could bring its offshore token model closer to the SEC framework, which requires shareholder rights. However, the SEC also allows issuers to object to third-party tokenization, diverging from Tenev’s stance.
SEC Action to Intensify Competition for Robinhood
The SEC action provides another regulatory avenue for experimentation, potentially accelerating competition between established exchanges and crypto-native platforms. It also raises competitive pressure on Robinhood.
Coinbase Global COIN is the most direct rival, given its U.S. stock-trading business and international tokenized-equity efforts. Its Abu Dhabi framework already supports tokenized securities with underlying share backing and shareholder rights, giving Coinbase experience with a structure closer to the SEC’s requirements and potentially shortening its path to a U.S. launch.
Intercontinental Exchange ICE is also positioned to play a meaningful role through the NYSE. ICE is developing a 24/7 digital venue for tokenized equities that would pair its Pillar matching technology with blockchain-based settlement, including the ability to settle trades instantly using stablecoins.
Other Growth Drivers Support Robinhood’s Broader Story
Beyond tokenization, Robinhood’s fundamentals remain supported by expanding customer assets, deposits and product diversification. The company’s first-half 2026 revenues climbed 24% year over year to $2.38 billion, while earnings increased 23% to $1.00. Robinhood also ended August with 28.6 million funded customers and $384 billion in total platform assets, up 26% year over year, alongside $74.1 billion of net deposits over the prior 12 months.
Newer businesses are also widening HOOD’s revenue base. Robinhood Gold Card surpassed 1 million customers, Robinhood Banking accumulated more than $3 billion in deposits and Robinhood Strategies reached nearly $2 billion in assets under management. Agentic Trading, launched in May, attracted nearly 100,000 accounts, while prediction markets continue to scale through Rothera and a recent Crypto.com partnership. International expansion has also accelerated through the WonderFi acquisition and new crypto and Stock Token offerings.
These initiatives reduce dependence on traditional equity trading and support long-term monetization. However, HOOD remains exposed to market activity, crypto volatility, regulatory changes and execution risks as it expands into multiple newer businesses.
HOOD’s Price Performance, Earnings Prospects & Valuation
Over the past six months, Robinhood’s shares have jumped 48.1% compared with the industry’s growth of 19.8%.
Robinhood’s long-term earnings picture remains compelling, although near-term growth is expected to moderate after substantial gains in recent years.
The Zacks Consensus Estimate for 2026 revenues is $5.23 billion, implying 17% year-over-year growth. On the other hand, earnings are projected to rise just 4.9% to $2.15. However, growth is expected to accelerate next year, with revenues likely to jump 26.6% to $6.62 billion and earnings projected to surge 32.9% to $2.86.
In terms of valuation, Robinhood trades at 11.41X trailing 12-month tangible book, well above the industry average of 3.19X.
Robinhood’s faster growth, younger customer base, digital-first platform and exposure to emerging businesses warrant some premium. Yet, the gap leaves little room for disappointing execution.
What Does the SEC Move Mean for Robinhood Investors?
HOOD’s next step is likely to focus less on building new tokenization technology and more on adapting its existing infrastructure to the SEC framework. Robinhood Chain already supports roughly 200 Stock Tokens, while the company plans to introduce one-for-one redemption into underlying shares and voting rights. A U.S.-compliant offering would also need to address issuer notification, shareholder rights, access controls, transparency and trading limits. If executed successfully, this could allow HOOD to connect its brokerage, crypto and blockchain businesses more closely while expanding its presence in onchain equities.
For investors, the SEC development adds a potential long-term growth avenue rather than an immediate earnings catalyst. A U.S. tokenized-stock offering will likely increase trading activity, deepen customer engagement and broaden Robinhood’s addressable market. However, the opportunity remains subject to meaningful constraints: the exemption is temporary, trading volumes and eligible symbols are limited, issuers can object to tokenization and permanent rules are still evolving.
Thus, the development strengthens Robinhood’s long-term tokenization thesis but does not by itself materially alter the near-term investment case. Investors considering HOOD on this catalyst must watch how quickly the company can launch a compliant U.S. product, the level of customer and issuer adoption, and whether tokenized equities begin contributing meaningful transaction activity. Until those factors become clearer, the SEC move represents an incremental strategic positive for Robinhood, balanced by execution and regulatory uncertainty.
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
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SEC Opens U.S. Door to Tokenized Stocks: Is Robinhood a Buy Now?

Shares of CME Group Inc. CME have gained 5.8% in the past year against the industry's decline of 9.4%.
CME Group has outperformed its peers, including Intercontinental Exchange Inc. ICE, S&P Global Inc. SPGI and Nasdaq, Inc. NDAQ. Shares of ICE, SPGI and NDAQ have lost 8.5%, 23.8% and 3.6%, respectively, in the past year.
With a market capitalization of $98.9 billion, the average volume of shares traded in the last three months was 2.7 million. CME has a solid track record of beating earnings estimates in three of the last four quarters, and missed in one, with an average of 1.27%.
CME Shares are Overvalued
CME Group shares are trading at a premium to the Zacks Securities and Exchange industry. Its forward price-to-earnings of 21.73X is higher than the industry average of 20.65X.
CME Trading Above 50-Day Moving Averages
Shares of CME Group closed at $275.09 on Tuesday and are trading above the 50-day simple moving average (SMA) of $263.54, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.
CME’s Growth Projection
The Zacks Consensus Estimate for CME Group’s 2026 earnings per share (EPS) indicates a 9.5% year-over-year increase. The consensus estimate for revenues is pegged at $7.03 billion, implying a year-over-year improvement of 7.8%.
The consensus estimate for 2027 EPS and revenues indicates an increase of 4.8% and 4.8%, respectively, from the corresponding 2026 estimates.
Optimistic Analyst Sentiment for CME
Nine of the 11 analysts covering the stock have raised estimates for 2026, and eight analysts have raised the same for 2027 over the past 60 days. Thus, the Zacks Consensus Estimate for 2025 and 2026 earnings has moved up 0.8% and 0.7%, respectively, in the past 60 days.
Target Price Reflects Potential Upside
Based on short-term price targets offered by 15 analysts, the Zacks average price target is $284.40 per share. The average indicates a potential 1.4% upside from the last closing price.
Image Source: Zacks Investment Research
Factors Impacting CME
CME Group continues to strengthen its position as a leading global derivatives marketplace, supported by strong trading activity, product expansion and a scalable operating model. In the first half of 2026, average daily volume (ADV) rose 10% year over year, while open interest increased 8% from the prior-year period to 127 million contracts. More than $95 billion of average daily margin efficiencies in the second quarter further enhanced the value of its integrated clearing platform.
The company’s electronic operating model also supports revenue scalability.
CME is simultaneously broadening its addressable market. New initiatives include continuous cryptocurrency trading, extended gold trading hours, single-stock futures and the planned launch of Compute futures. Treasury Link, expected in the fourth quarter of 2026, is designed to connect Treasury futures with cash-market liquidity.
Market data represents another increasingly important growth engine. Second-quarter market-data and information-services revenues jumped 20% year over year to a record $238 million, marking the eighth consecutive quarterly record. Continued demand for proprietary pricing and benchmark data could support this relatively recurring revenue stream amid ongoing market uncertainty and rising adoption of algorithmic and AI-driven analytics.
CME also maintains significant financial flexibility. As of June 30, 2026, it had approximately $2.3 billion in cash and $3.4 billion of debt.
During the second quarter, CME paid $468 million in regular dividends and repurchased $695 million of shares. Its combination of volume-driven growth, expanding market-data revenues, product innovation and capital returns provides multiple avenues for sustaining shareholder value.
End Notes
CME Group continues to benefit from strong trading activity, product expansion and a scalable business model. Growth in market-data revenues provides a recurring revenue stream, supported by demand for financial information and analytics.
Meanwhile, new products and extended trading hours broaden its addressable markets. Strong cash generation also supports dividends and share repurchases.
Its solid growth projection and positive analyst statements are other positives. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This innovative software-as-a-service firm upped its user base +22% year over year. That rate is increasing and margins are expanding as AI efficiencies take effect. Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
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Nasdaq, Inc. (NDAQ) : Free Stock Analysis Report
S&P Global Inc. (SPGI) : Free Stock Analysis Report
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CME Group Rises 5.8% in a Year: How Should You Play the Stock?

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in CAVA Group Inc (Symbol: CAVA), where a total volume of 43,238 contracts has been traded thus far today, a contract volume which is representative of approximately 4.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 170% of CAVA's average daily trading volume over the past month, of 2.5 million shares. Especially high volume was seen for the $40 strike put option expiring December 18, 2026, with 10,138 contracts trading so far today, representing approximately 1.0 million underlying shares of CAVA. Below is a chart showing CAVA's trailing twelve month trading history, with the $40 strike highlighted in orange:
Intercontinental Exchange Inc (Symbol: ICE) saw options trading volume of 51,533 contracts, representing approximately 5.2 million underlying shares or approximately 154.3% of ICE's average daily trading volume over the past month, of 3.3 million shares. Particularly high volume was seen for the $145 strike call option expiring September 18, 2026, with 25,203 contracts trading so far today, representing approximately 2.5 million underlying shares of ICE. Below is a chart showing ICE's trailing twelve month trading history, with the $145 strike highlighted in orange:
And Apple Inc (Symbol: AAPL) saw options trading volume of 647,534 contracts, representing approximately 64.8 million underlying shares or approximately 150.3% of AAPL's average daily trading volume over the past month, of 43.1 million shares. Particularly high volume was seen for the $335 strike call option expiring September 16, 2026, with 50,379 contracts trading so far today, representing approximately 5.0 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $335 strike highlighted in orange:
For the various different available expirations for CAVA options, ICE options, or AAPL options, visit StockOptionsChannel.com.
Further CAVA Research:

Noteworthy Tuesday Option Activity: CAVA, ICE, AAPL

Last Friday, the three benchmark stock indexes on Wall Street closed a losing week. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite slipped 1.6%, 0.8% and 0.7% respectively.
The weekly decline was primarily due to a sharp rise in oil prices amid escalating Middle East tensions, which heightened inflation concerns and pushed Treasury yields higher. The 10-year yield approached 5%, increasing fears that the Fed could maintain a restrictive stance despite an expected September rate hike.
Technology stocks showed relative resilience, helped by strength in AI-related shares, while Friday's retreat in crude and in-line CPI data sparked a broad rebound.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
FIGS and Charles River Laboratories Surge Following Zacks Rank Upgrade
Shares of FIGS, Inc. FIGS have gained 33.5% (versus the S&P 500’s 2% increase) since it was upgraded to a Zacks Rank #2 (Buy) on July 14.
Another stock, Charles River Laboratories International, Inc. CRL, which was also upgraded to a Rank #2 on July 14, has returned 21.1% since then.
A portfolio of Zacks # 1 Rank (Strong Buy) stocks has outperformed the S&P 500 index by 2.3 percentage points this year. Through August 3rd this year, the Zacks # 1 Rank portfolio returned +12.08%, which compares to a +9.78% gain for the S&P 500 index and a +10.41% gain for the equal-weight version of the index in the same time period.
Since its inception in 1988, this portfolio of Zacks # 1 Rank stocks has outperformed the market by 12.4 percentage points. The average annual return for this portfolio of Zacks # 1 Rank stocks since inception in 1988 was +23.9% through August 3rd, which compares to a +11.5% gain for the S&P 500 index and a +11.3% gain for the equal-weight version of the index.
Check FIGS’ historical EPS and Sales here>>>
Check Charles River’s historical EPS and Sales here>>>
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Zacks Recommendation Upgrades Grupo Cibest and Amphenol
Shares of Grupo Cibest S.A. CIB and Amphenol Corporation APH have surged 28.4% and 9.6% (versus the S&P 500’s 1.8% rise), respectively, since their Zacks Recommendation was upgraded to Outperform on June 26 and July 17.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks Microsoft, CACI International Shoot Up
Shares of Microsoft Corporation MSFT, which belongs to the Zacks Focus List, have soared 26.8% over the past 12 weeks. The stock was added to the Focus List on February 1, 2016. Another Focus-List holding, CACI International Inc. CACI, which was added to the list on December 2, 2015, has returned 19.6% over the past 12 weeks. The S&P 500 has advanced 3.1% over this period.
The 50-stock Focus List portfolio returned +19.86% in the year-to-date period (through August 31, 2026) vs. +13.14% for the S&P 500 index and +15.59% for the equal-weight version of the index.
The portfolio returned +22.1% in 2025 vs. +17.9% for the S&P 500 index and +11.4% for the equal-weight version of the index.
The Zacks Focus List portfolio returned +18.41% in 2024 vs. +25.04% for the S&P 500 index and +13% for the equal-weight S&P 500 index. The portfolio had returned +29.54% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio returned -15.2% vs. the S&P 500 index’s -17.96%.
Through August 31, 2026, the portfolio’s rolling returns on a one-year, three-year, five-year, ten-year, and since 2004 have been +28.7% (vs. +20.4% for the S&P 500 index), +24.1% (vs. +21.1%), +13.6% (vs. +12.8%), +17.1% (vs. +15.4%) and +12.7% vs. (+11%), respectively.
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Zacks ECAP Stocks Automatic Data Processing & Accenture Gain Significantly
Automatic Data Processing, Inc. ADP, a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 18.6% over the past 12 weeks. Accenture plc ACN followed Automatic Data with 8% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy-and-Hold stocks, returned -9.4% in the first half of 2026 (through June 30th) vs. +10.2% for the S&P 500 index.
For 2025, the portfolio returned -1.67% vs. a +17.9% gain for the S&P 500 index. For the year 2024, the portfolio returned +16.26% vs. +24.89% for the S&P 500 index (SPY ETF). In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks Paychex & Intercontinental Exchange Outperform Peers
Paychex, Inc. PAYX, which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 15.1% over the past 12 weeks. Another ECDP stock, Intercontinental Exchange, Inc. ICE, has climbed 12% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
With an extremely low beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) returned -1.7% in the first half of 2026 (through June 30th) vs. +10.2% for the S&P 500 index and +9.03% for the Dividend Aristocrats ETF (NOBL).
The portfolio returned -0.6% in 2025 vs. a +6.8% gain for the Dividend Aristocrats ETF. For the full year 2024, the portfolio returned +6.95% vs. +24.89% for the S&P 500 index and +6.72% for NOBL. The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Click here to access this portfolio on Zacks Advisor Tools.
Zacks Top 10 Stock FirstCash Delivers Solid Returns
FirstCash Holdings, Inc. FCFS, from the Zacks Top 10 Stocks for 2025, has jumped 45.7% since January 5, 2026, compared with the S&P 500 Index’s 11.9% increase.
The Top 10 portfolio returned +15% in the year-to-date 2026 period (through August 31st) vs. +12.9% for the S&P 500 index and +14.8% for the equal-weight version of the index.
The Top 10 portfolio returned +22.6% in 2025 vs. +17.9% for the S&P 500 index and +11.4% for the equal-weight version of the index.
The Top 10 portfolio returned +62.98% in 2024, vs. +25.04% for the S&P 500 index and +13% for the equal-weight version of the index. The portfolio had returned +25.15% in 2023 vs. +26.28% for the S&P 500 index.
Through the end of August 2026, the Top 10 portfolio has produced a cumulative return of +2,881.3% since 2012 vs. +648.5% for the S&P 500 index and +481.7% for the equal-weight version of the index. The portfolio has produced an average annual return of +25.8% in the period 2012 through August 31, 2026, vs. +13.6% for the S&P 500 index and +11.3% for the equal-weight version of the index.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
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FIGS, Inc. (FIGS) : Free Stock Analysis Report

Beat the Market the Zacks Way: FIGS, Microsoft, Amphenol in Focus

BGC Group’s BGC launch of Fenics AI marks another step in the company’s push to automate institutional trading and expand the technology component of its brokerage franchise. The platform recently completed BGC’s first fully AI-brokered institutional trade in listed equity derivatives, handling price discovery through execution for a Eurex-listed Swiss SMI options transaction.
More important than the individual trade, however, is the potential to deploy the technology across BGC’s large institutional client network and eventually across multiple asset classes. Fenics AI is expected to become available to clients in the fourth quarter of 2026.
The initiative fits well with BGC’s broader strategy of shifting more activity toward electronic and technology-enabled trading. Fenics AI is designed to automate routine execution processes while integrating with BGC’s existing brokerage infrastructure, which could allow brokers to concentrate on higher-value client interactions and complex transactions. BGC is also applying AI more broadly across its organization to improve client service and streamline workflows.
Fenics AI also adds another potential growth avenue to an already expanding Fenics franchise. In the second quarter of 2026, Fenics revenues increased 14.3% year over year to $186.2 million. Fenics Growth Platforms revenues climbed 22.9% to $33.4 million, aided by FMX, PortfolioMatch and Lucera. This performance suggests that BGC is already benefiting from demand for electronic marketplaces, trading infrastructure and data products, giving the company an established platform through which AI capabilities can potentially be commercialized.
In the near term, the contribution from Fenics AI is unlikely to be significant, particularly as the platform remains in the initial commercialization phase. Longer term, however, greater automation could support higher transaction capacity, lower incremental processing costs and better operating leverage as volumes scale. Improved trade processing and settlement accuracy could also reduce operational friction. These benefits would be meaningful for BGC, which generated record second-quarter 2026 revenues of $845.5 million, up 7.8% year over year, while pre-tax adjusted earnings increased 11.1% to $192.9 million.
BGC’s Competitive Landscape
BGC’s push into AI-enabled trading also comes as other major market operators increase investments in automation and AI-based workflows.
Intercontinental Exchange ICE has been expanding the use of AI across its market infrastructure and data businesses. In 2026, ICE made portions of its fixed-income data and methodologies accessible through leading AI platforms, allowing licensed clients to interact with its proprietary data through AI-powered applications. Intercontinental Exchange has also deployed AI across areas such as cybersecurity and operational infrastructure.
Tradeweb Markets TW, which provides a close comparison to BGC’s Fenics AI strategy, has been expanding automation through its AiEX execution platform and recently introduced TARA, an AI-powered research assistant aimed at improving liquidity discovery, pricing analysis and trading decisions for institutional credit clients. TW’s broader efforts toward AI-assisted execution underline the increasing role of automation across the trade lifecycle.
BGC’s Price Performance & Zacks Rank
Over the past six months, BGC shares have gained 32.3% compared with the industry’s 27.2% growth.
Currently, BGC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Can Fenics AI Boost BGC's Trading Efficiency and Operating Leverage?

Nasdaq, Inc. NDAQ has completed its acquisition of Dasseti, an AI-powered due diligence and monitoring platform serving investment consultants, institutional investors and asset managers. Announced in July 2026 and completed on Sept. 2, the transaction expands Nasdaq’s institutional investment-technology capabilities, although financial terms were not disclosed.
Dasseti helps institutional investors automate the evaluation and ongoing monitoring of investment managers and funds. Its technology streamlines due-diligence questionnaires, RFPs and monitoring workflows, using AI to reduce manual processes and organize investment-related information more efficiently. Nasdaq plans to integrate Dasseti into eVestment, extending the platform beyond manager research and selection into due diligence and ongoing monitoring.
The acquisition also gives Nasdaq access to Dasseti’s ecosystem of roughly 17,000 asset managers and general partners representing $34 trillion in AUM, creating opportunities to broaden relationships with institutional clients. Nasdaq Ventures previously invested in Dasseti in 2022, providing Nasdaq with familiarity with the platform before the acquisition.
The deal is strategically positive for NDAQ because it strengthens the company’s Data & Technology Solutions franchise and supports its shift toward higher-value data, analytics, AI and workflow technology. By combining eVestment’s institutional investment data with Dasseti’s due-diligence and monitoring capabilities, Nasdaq can offer clients a more comprehensive investment-management workflow and potentially create additional recurring technology and data revenues through cross-selling. The key opportunity is not the near-term financial contribution from Dasseti, but its potential to make eVestment more deeply embedded in clients’ investment processes and enhance Nasdaq’s long-term growth in institutional data and technology.
What About Its Peers?
Cboe Global Markets, Inc.’s CBOE acquisitions have largely focused on building out market-data, analytics and trading-technology capabilities. For example, Cboe acquired Hanweck, FT Options and Trade Alert, combining volatility analytics, options data and real-time trading intelligence. Cboe says the acquisitions were designed to integrate complementary datasets and technology, strengthening its market-data offering and giving clients tools across the trading lifecycle. Cboe recently shifted toward core derivatives, data and emerging-market opportunities, while divesting non-core businesses such as Cboe Canada and Australia.
Intercontinental Exchange Inc.’s ICE strong example of an acquisition is Black Knight, which was completed in September 2023 for approximately $11.8 billion. Black Knight added mortgage software, data and analytics capabilities to ICE, complementing its earlier acquisitions of Ellie Mae, Simplifile and MERS and helping ICE build an end-to-end digital mortgage ecosystem. The combination brought together loan-origination, servicing, closing, consumer-engagement and data/analytics capabilities, allowing ICE to automate more of the mortgage lifecycle and generate additional recurring, technology-driven revenues.
NDAQ’s Price Performance
Shares of NDAQ have gained 2% in the past year, outperforming the industry.
NDAQ’s Overvaluation
The stock is overvalued compared with its industry. It is currently trading at a price-to-earnings multiple of 21.43, higher than the industry average of 21.42.
Estimate Movement for NDAQ
The Zacks Consensus Estimate for NDAQ’s third-quarter and fourth-quarter 2026 EPS has moved up 3% and 2.8%, respectively, in the past 60 days. The same for full-year 2026 and 2027 EPS has moved up 4.8% and 5.6%, respectively, in the past 60 days.
The consensus estimate for NDAQ’s 2026 and 2027 EPS and revenues indicates a year-over-year increase.
NDAQ stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
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Nasdaq, Inc. (NDAQ) : Free Stock Analysis Report

Intercontinental Exchange Inc.

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