We are a leading provider of market infrastructure and tradable products, delivering cutting-edge trading, clearing and investment solutions to market participants around the world.

CBOE

Edward T. Tilly

Chairman and Chief Executive Officer

John F. Deters

Executive Vice President, Chief Strategy Officer

Greg Hoogasian

Executive Vice President, Chief Regulatory Officer

David Howson

Executive Vice President, Global President, CGM

Chris Isaacson

Executive Vice President, Chief Operating Officer

Brian N. Schell

Executive Vice President, Chief Financial Officer and Treasurer

Patrick Sexton

Executive Vice President, General Counsel and Corporate Secretary

Chairman and Chief Executive Officer and Director

Eugene S. Sunshine

Lead Director

William M. Farrow III

Director

Edward J. Fitzpatrick

Ivan K. Fong

Janet P. Froetscher

Jill R. Goodman

Alexander J. Matturri

Jennifer J. McPeek

Roderick A. Palmore

James E. Parisi

Joseph P. Ratterman

Jill E. Sommers

Fredric J. Tomczyk

The Exchange for the World Stage

Benefits of XSP vs. SPY ETF

S&P 500 Weeklys Options

About CBOE

Cboe Global Markets (BATS:CBOE) Stock

Cboe Global Markets

NASDAQ

CBOE Holdings

Cboe Global Markets Inc is a provider of market infrastructure and tradable products, that delivers cutting-edge trading, clearing, and investment solutions to market participants around the world. The Company is committed to operating a trusted, inclusive all over world marketplace, and to providing products, technology, and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX, and digital assets, across North America, Europe, and Asia Pacific.

Cboe Global Markets Inc

Cboe Validus S&P 500 Dynamic PutWrite Index ETF

Oppenheimer analyst Owen Lau maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Outperform and raises the price target from $233 to $237.

News

Price Target

Analyst Ratings

Oppenheimer Maintains Outperform on Cboe Global Markets, Raises Price Target to $237

BofA Securities analyst Craig Siegenthaler downgraded Cboe Global Markets Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) from Buy to Neutral, lowering the price <a href="https://www.benzinga.com/quote/CBOE/analyst-ratings" target="_blank" rel="noreferrer noopener">target to $227 from $260</a>.
The analyst noted that while the broader diversified financials sector has declined 10% year-to-date amid the growing tariff dispute, CBOE Global Markets has stood out by delivering a 5% return —outperforming its peers by about 15%.
This strong performance, according to Siegenthaler, is largely attributed to CBOE&#8217;s defensive business model, which tends to benefit during periods of heightened market volatility and increased trading volumes.
However, despite the solid year-to-date gains, the analyst expressed caution going forward.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44738776/versace-goes-prada-capris-big-exit-sparks-fashion-power-shift" rel="noreferrer noopener">Versace Goes Prada: Capri&#8217;s Big Exit Sparks Fashion Power Shift</a>
The stock's recent outperformance has led to a &#8220;higher relative valuation&#8221; compared to peers.
Siegenthaler pointed out that CBOE&#8217;s next 12 months, or NTM price-to-earnings ratio, has increased by 2% so far this year, while the average PE multiple for the broader diversified financials sector has dropped by 13%. As a result, CBOE now appears about 15% more expensive compared to its peers on a relative valuation basis.
The analyst also pointed to potential deceleration in trading volumes during the second half of 2025, which could weigh on future performance.
Siegenthaler writes that the first half of 2025 will likely mark the cyclical peak for exchange volumes, with a significant decline expected in the second half.
The analyst projects a 6% drop in volumes from the first to the second half of the year, and only a 7% year-over-year increase in total options volume for 2H25.
The analyst is especially concerned about the retail trading segment, where participation may fall due to poor investor performance so far this year.
Siegenthaler lowered earnings estimates for the second half of 2025 and the following years.
The new projections are $4.60 for the second half of 2025, $9.89 for 2026, and $11.37 for 2027 — down from previous estimates of $5.07, $11.16, and $12.99, respectively.
CBOE Price Action: CBOE shares closed Thursday up 2.05% to $210.02.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44731044/jim-cramer-says-pre-market-slide-driven-by-profit-takers-shorts-are-trying-to-figure-whether-to-operate-on-nvidia-avgo-aapl" target="_blank" rel="noreferrer noopener">Jim Cramer Says Pre-Market Slide Driven By Profit-Takers: ‘Shorts Are Trying To Figure Whether To Operate On Nvidia, AVGO, AAPL'</a></li>
</ul>

Options

Markets

Movers

Trading Ideas

General

CBOE Loses Its Edge? Analyst Downgrades Stock On Valuation Worries, Volume Slowdown

B of A Securities analyst Craig Siegenthaler downgrades Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) from Buy to Neutral and lowers the price target from $260 to $227.

Downgrades

B of A Securities Downgrades Cboe Global Markets to Neutral, Lowers Price Target to $227

Piper Sandler analyst Patrick Moley maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Overweight and raises the price target from $230 to $234.

Piper Sandler Maintains Overweight on Cboe Global Markets, Raises Price Target to $234

Barclays analyst Benjamin Budish maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Equal-Weight and raises the price target from $216 to $232.

Barclays Maintains Equal-Weight on Cboe Global Markets, Raises Price Target to $232

Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) has outperformed the market over the past 10 years by 5.02% on an annualized basis producing an average annual return of 14.61%. Currently, Cboe Global Markets has a market capitalization of $23.40 billion. 
Buying $100 In CBOE: If an investor had bought $100 of CBOE stock 10 years ago, it would be worth $395.04 today based on a price of $223.47 for CBOE at the time of writing.
<h3>Cboe Global Markets's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743780660_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 10 Years Ago, You Would Have This Much Today

Macro uncertainty has delayed the timeline for an IPO comeback, but there remains substantial pent-up supply for equity issuance.
That&#8217;s according to BofA Securities analyst Craig Siegenthaler, who <a href="https://www.benzinga.com/topic/exchanges" target="_blank" rel="noreferrer noopener">maintained all of his</a> ratings and continues to look for a reopening in the second half of 2025. 
This will restart Nasdaq, Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) strategic flywheel across listings, trading, and corporate services, he says.
Also Read: <a href="https://www.benzinga.com/government/regulations/25/03/44190371/nasdaq-plans-24-hour-trading-to-tap-global-investor-demand" target="_blank" rel="noreferrer noopener">Nasdaq Plans 24-Hour Trading To Tap Global Investor Demand</a>
Siegenthaler continued to forecast the highest 12-month upside for: 
<ul>
<li>Tradeweb Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TW#NASDAQ">TW</a>); Buy rating, price target $212 from $197.</li>
<li>BGC Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGC#NASDAQ">BGC</a>); Buy rating, price target $15 from $16.</li>
<li>Nasdaq; Buy rating, price target $105 from $103.</li>
<li>Cboe Global Markets, Inc (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>); Buy rating, price target $260 from $251.</li>
</ul>
There is a significant runway left in the electronification of fixed-income markets at Tradeweb Markets, and given their considerable rates business, the analyst noted that Tradeweb Markets will capitalize on the political uncertainty in Washington.
Siegenthaler will look for BGC Group to launch Treasury futures within days and expect their share of the $2 billion revenue per year interest rate futures market to continue accelerating, surpassing 10% in 2027.
The increasingly uncertain macroeconomic and geopolitical backdrop produced ideal conditions for trading across asset classes. 
Accordingly, Siegenthaler raised EPS for his entire market structure coverage. While the analyst expects some downward normalization in volumes into the second half of 2025 (in parallel with a pickup in IPOs), ongoing geopolitical uncertainty will remain an important trading catalyst.
Given his view of second-half normalizations, we are less bullish on Exchange stocks (which outperformed) than the Alts and Brokers.
With market structure stocks up 8% on average in the first quarter of 2025, Nasdaq and Virtu Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) — Buy rating, price target $48 from $56 — have lagged the group.
Nevertheless, the analyst forecasted over 10% first-quarter 2025 EPS beats for both stocks.
Both companies have benefitted from the surge in equity volume in the first quarter of 2025.
Assets under management linked to the Nasdaq-100 have faced beta headwinds related to the choppy equity markets year-to-date. One-third of their indexing revenue is derived from Nasdaq-100 futures, which posted their strongest growth quarter in years (up 38% sequentially) and are seeing strong adoption at the online brokers. In addition, the annual listing price hike (estimated 5%) should more than offset any delisting headwinds. 
Meanwhile, Virtu Financial should also see solid results across its organic initiatives, with industry volumes in options, ETFs, and fixed income higher sequentially.
MarketAxess Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKTX#NASDAQ">MKTX</a>) — Underperform rating, price target $191 from $189 — rallied 12% in March. 
Investors embedded an industrywide mix shift into A2A RFQ, where they are dominant. Siegenthaler noted that portfolio trading (PT) and D2D trading have also logged impressive volumes month-to-date, up 18% and 11% month-on-month (versus +9% for TRACE).
Tradeweb Markets remains dominant in both of these market segments. Accordingly, the analyst does not expect MarketAxess Holdings to post higher market share gains than Tradeweb Markets in March. Meanwhile, Intercontinental Exchange Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) — Buy rating, price target $230 from $237 — will likely experience near-term cyclical headwinds in its mortgage and listing business.
Cboe Global Markets, Inc (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) — Buy rating, price target $260 from $251 — and Tradeweb Markets could see a sequentially adverse product mix shift, given a lower contribution from SPX and muni bonds. 
Futures and index options usage CME Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) — Underperform rating, price target $219 from $200 — and Cboe Global Markets on Robinhood is ramping nicely. La Nina has been a helpful catalyst for commodity futures. The Mr. Cooper and Rocket Mortgage deal will cost Intercontinental Exchange approximately 410 bps of servicing share and 130 bps of origination share, which the analyst noted amounts to a $72 million headwind.
Read Next:
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<li><a href="https://www.benzinga.com/media/25/04/44608574/chip-giants-arm-qualcomm-target-alphawave-to-capture-ai-success-like-broadcom" target="_blank" rel="noreferrer noopener">Chip Giants Arm, Qualcomm Target Alphawave To Capture AI Success Like Broadcom</a></li>
</ul>
Image: Shutterstock

Reiteration

IPOs

MKTX

NDAQ

VIRT

Tradeweb, Nasdaq, Virtu, ICE, BGC Group, Cboe Set To Benefit From IPO Comeback: Analyst

<a href="http://www.benzinga.com/markets/cryptocurrency/25/03/44492055/fidelity-gears-up-to-launch-us-dollar-backed-stablecoin">Fidelity Investments</a> has introduced a new crypto-focused retirement account, giving individual investors the opportunity to hold digital assets directly in tax-advantaged retirement portfolios.
The <a href="https://www.fidelity.com/crypto/retirement-ira">offering</a> includes access to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>), and is available to U.S. residents aged 18 and older.
Assets purchased through the new product are stored securely in cold wallets under Fidelity's custody. 
Investors can choose from traditional IRAs, Roth IRAs, or rollover options, with no fees attached to the crypto IRA service, according to the firm's official website.
The move comes as financial advisors increasingly embrace digital assets as part of diversified retirement strategies. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44607188/arthur-hayes-predicts-bitcoin-to-hit-250000-by-end-of-year">Arthur Hayes Predicts Bitcoin To Hit $250,000 By End Of Year</a>
A recent TMX VettaFi <a href="https://www.coindesk.com/business/2025/04/02/fidelity-lets-investors-directly-invest-in-crypto-through-new-retirement-plan">survey</a> found that more than half of advisors (57%) intend to grow their exposure to crypto-related exchange-traded funds, with a strong emphasis on crypto equity products.
"Fidelity is dedicated to delivering investment choices that align with evolving customer preferences," a company representative said, emphasizing the importance of providing education and guidance alongside new products.
Sources close to the development indicated that demand among Fidelity's clients for a secure, tax-efficient method to invest in crypto has been steadily rising.
Fidelity has long been active in the digital asset space, offering a suite of crypto-themed ETFs that allow investors to track asset prices indirectly. 
The firm recently filed paperwork to list a Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) ETF on the Cboe (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) exchange, expanding its presence in the crypto ETF market.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44605174/circles-revenue-grows-but-ipo-filing-shows-falling-profitability">Circle&#8217;s Revenue Grows, But IPO Filing Shows Falling Profitability</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$ETH

$LTC

$SOL

Fidelity Launches Fee-Free Crypto IRA, Offering Direct Access To Bitcoin, Ethereum, And Litecoin For US Investors

Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) has outperformed the market over the past 10 years by 4.19% on an annualized basis producing an average annual return of 14.67%. Currently, Cboe Global Markets has a market capitalization of $23.06 billion. 
Buying $100 In CBOE: If an investor had bought $100 of CBOE stock 10 years ago, it would be worth $388.29 today based on a price of $220.24 for CBOE at the time of writing.
<h3>Cboe Global Markets's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743174016_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Cboe Global Markets Stock In The Last 10 Years

Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) has outperformed the market over the past 10 years by 2.51% on an annualized basis producing an average annual return of 13.36%. Currently, Cboe Global Markets has a market capitalization of $22.23 billion. 
Buying $1000 In CBOE: If an investor had bought $1000 of CBOE stock 10 years ago, it would be worth $3,513.40 today based on a price of $212.35 for CBOE at the time of writing.
<h3>Cboe Global Markets's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741193108_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth This Much Today

Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) has outperformed the market over the past 10 years by 1.49% on an annualized basis producing an average annual return of 12.62%. Currently, Cboe Global Markets has a market capitalization of $21.51 billion. 
Buying $100 In CBOE: If an investor had bought $100 of CBOE stock 10 years ago, it would be worth $328.22 today based on a price of $205.48 for CBOE at the time of writing.
<h3>Cboe Global Markets's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739289621_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

B of A Securities analyst Michael Carrier maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Buy and raises the price target from $245 to $251.

B of A Securities Maintains Buy on Cboe Global Markets, Raises Price Target to $251

Barclays analyst Benjamin Budish maintains Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) with a Equal-Weight and raises the price target from $212 to $216.

Barclays Maintains Equal-Weight on Cboe Global Markets, Raises Price Target to $216

Wall Street slumped into negative territory late in the week as renewed fears over inflation and trade <a href="https://www.benzinga.com/topic/tariffs">tariffs eroded risk appetite. </a>
The first warning sign came from the University of Michigan's consumer sentiment survey, which revealed an "unusually large" spike in inflation expectations. The one-year inflation outlook surged by a full percentage point to 4.3%, marking its highest <a href="https://www.benzinga.com/25/02/43564020/consumer-sentiment-sinks-economist-flags-unusually-large-rise-in-inflation-perception">level since November 2023. </a>
Investor uncertainty grew following President Donald Trump's announcement that &#8216;reciprocal tariffs&#8217; would take effect next week. Trump is expected to sign new executive orders at 2:00 p.m. Friday.
On the macro front, February&#8217;s jobs report revealed a mixed outcome, with employment growth slowing down more than expected, yet unemployment fell more than expected, and wages surged more than expected.
Market reaction was swift. The S&amp;P 500 fell 0.6%, erasing its weekly gains, while the Nasdaq 100 dropped 0.9% by 1:00 p.m. trading in New York. 
The Dow Jones Industrial Average slipped into negative territory for the week, putting its three-week winning streak at risk. Small-cap stocks underperformed, with the Russell 2000 sinking 1.3%. 
Stock-wise, Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) skyrocketed by 9.5%, extending its 8.6% rally from the previous session, after hedge fund billionaire Bill Ackman revealed a stake of 30.3 million shares in the ride-hailing giant.
In currency and bond markets, the U.S. dollar index – tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – rallied following the tariff headlines, while Treasury yields climbed higher. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) dropped 0.8%, reflecting renewed pressure on long-duration bonds. 
Gold took a breather, retreating under pressure from a stronger dollar. Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) erased early session gains, slipping from an intraday high of $100,000 to $97,500.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>• S&amp;P 500</td>
<td>6,047.11</td>
<td>-0.6%</td>
</tr>
<tr>
<td>• Dow Jones</td>
<td>44,452.38</td>
<td>-0.7%</td>
</tr>
<tr>
<td>• Nasdaq 100</td>
<td>21,576.82</td>
<td>-0.9%</td>
</tr>
<tr>
<td>• Russell 2000</td>
<td>2,279.74</td>
<td>-1.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020325&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;fell 0.6% to $602.79.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.7% to $444.45.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;dropped 0.8% up to $528.47.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) flattened at $229.55.</li>
<li>The&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.7%; the&nbsp;Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 1.2%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included:
<ul>
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): down 3.78%</li>
<li>Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>): down 8.29%</li>
<li>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>): up 2.86%</li>
<li>Expedia Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>): up 15.22%</li>
<li>Take-Two Interactive Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>): up 14.92%</li>
<li>Monolithic Power Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>): up 7.06%</li>
<li>Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>): up 17.09%</li>
<li>SS&amp;C Technologies Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSNC#NASDAQ">SSNC</a>): up 5.44%</li>
<li>Principal Financial Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFG#NASDAQ">PFG</a>): up 1.55%</li>
<li>Mettler-Toledo International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTD#NYSE">MTD</a>): up 2.12%</li>
<li>AptarGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATR#NYSE">ATR</a>): down 7.08%</li>
<li>Post Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POST#NYSE">POST</a>): up 5.96%</li>
<li>Mohawk Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>): down 1.53%</li>
<li>Boyd Gaming Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>): down 0.76%</li>
<li>Encompass Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EHC#NYSE">EHC</a>): up 1.53%</li>
<li>VeriSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>): down 0.32%</li>
<li>Cloudflare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>): up 18.39%</li>
<li>Skechers USA Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>): down 12.68%</li>
<li>Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>): up 23.22%</li>
<li>e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>): down 21.12%</li>
<li>Fortive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>): down 1.64%</li>
<li>Kimco Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>): up 0.20%</li>
<li>Avantor Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>): down 9.52%</li>
<li>Plains All American Pipeline LP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>): down 2.65%</li>
<li>Cboe Global Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#NASDAQ">CBOE</a>): up 1.03%</li>
<li>Construction Partners Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROAD#NASDAQ">ROAD</a>): up 6.75%</li>
<li>Plains GP Holdings LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAGP#NYSE">PAGP</a>): down 1.56%</li>
<li>Flowers Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>): up 0.31%</li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>): down 28.38%</li>
<li>Perella Weinberg Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWP#NASDAQ">PWP</a>): down 6.50%</li>
<li>Frontier Group Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>): up 16.75%</li>
<li>Proto Labs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NYSE">PRLB</a>): down 1.89%</li>
<li>Green Plains Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRE#NASDAQ">GPRE</a>): down 19.06%</li>
<li>Graham Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHM#NYSE">GHM</a>): down 17.34%</li>
<li>GrafTech International Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAF#NYSE">EAF</a>): down 4.70%</li>
<li>Canopy Growth Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>): down 25.18%</li>
<li>Iterum Therapeutics plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITRM#NASDAQ">ITRM</a>): down 5.03%</li>
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Wall Street Drops On Tariffs Threat, Dollar Rises, Uber Rockets On Ackman's Tweet: What's Driving Markets Friday?

Cboe Global Markets, Inc (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) reported <a target="_blank" href="https://www.benzinga.com/topic/cboe-global-markets" rel="noreferrer noopener">fourth-quarter revenue</a> growth of 5% year-on-year to $524.50 million, missing the analyst consensus estimate of $525.88 million.
An increase in net revenue from cash and spot markets, Data Vantage, and derivatives markets drove <a target="_blank" href="https://ir.cboe.com/news/news-details/2025/Cboe-Global-Markets-Reports-Results-for-Fourth-Quarter-2024-and-Full-Year/default.aspx" rel="noreferrer noopener">the topline growth</a>.
The company reported options net revenue of $324.3 million, up by 3%.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/25/02/43530227/msg-entertainment-q2-earnings-strong-holiday-ticket-sales-beats-revenue-estimates-despite-concert-decline" rel="noreferrer noopener">MSG Entertainment Q2 Earnings: Strong Holiday Ticket Sales, Beats Revenue Estimates Despite Concert Decline</a>
<ul>
<li>North American Equities net revenue of $94.9 million increased 10%.</li>
<li>Europe and APAC&#8217;s net revenue increased by $56.2 million by 17%.</li>
<li>Futures net revenue of $30.2 million decreased 7%.</li>
<li>Global FX net revenue of $19.4 million increased 3%.</li>
<li>EPS of $2.10 missed the analyst consensus estimate of $2.11.</li>
<li>The adjusted operating income grew by 4% to $319.7 million.</li>
<li>The adjusted operating margin declined by 60 bps to 60.6%.</li>
<li>The adjusted EBITDA margin declined 110 bps to 63.2%.</li>
<li>Cboe Global Markets generated $920.3 million in cash and equivalents as of Dec. 31, 2024.</li>
<li>During the quarter, the company paid cash dividends of $66.4 million, or 63 cents per share.</li>
</ul>
CEO Fredric Tomczyk noted that while the robust options volumes were a standout for 2024, the results were notable in each category, namely Derivatives Markets, Data Vantage, and Cash and Spot Markets.
Cboe Global Markets stock gained over 12% in the last 12 months. At least five Wall Street firms cut <a href="https://www.benzinga.com/quote/CBOE/analyst-ratings" target="_blank" rel="noreferrer noopener">their price targets</a> on the stock, including a rating downgrade by JPMorgan.
Price Action: CBOE stock is down 0.24% at $206.05 at last check Friday.
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Earnings

Cboe Q4 Earnings: Options Boom, Global Growth, Market Expansion Drive Gains

The earnings results for Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) for Q4 were made public on Friday, February 7, 2025 at 07:30 AM.
Here's a comprehensive overview of the announcement.
<h3>Earnings</h3>
Cboe Global Markets missed estimated earnings by -1.0%, reporting an EPS of $2.1 versus an estimate of $2.12.
Revenue was up $25.50 million from the same period last year.
<h3>Past Earnings Performance</h3>
The company beat on EPS by $0.03 in the previous quarter, leading to a 2.0% drop share price change the next day.
Here's a look at Cboe Global Markets's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.19</td>
<td>2.10</td>
<td>2.04</td>
<td>2.03</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.22</td>
<td>2.15</td>
<td>2.15</td>
<td>2.06</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>530.76M</td>
<td>514.51M</td>
<td>504.80M</td>
<td>511.68M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>532.00M</td>
<td>513.80M</td>
<td>502.10M</td>
<td>499.00M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Cboe Global Markets <a href="https://www.benzinga.com/quote/CBOE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cboe Global Markets Earnings Report: Q4 Overview

2025 Fiscal&nbsp;Year Financial Guidance
Cboe provided guidance for the 2025&nbsp;fiscal year as noted below.
<ul>
<li>Organic total net revenue growth is expected to be in the mid single digit range in 2025.</li>
<li>Organic net revenue growth from Data Vantage is expected to be in the mid to high single digit range in 2025.</li>
<li>Adjusted operating expenses in 2025 are expected to be in the range of $837 to $852 million. The guidance excludes the expected amortization of acquired intangible assets of $70 million; the company adjusts for this amount in its non-GAAP reconciliation.</li>
<li>Depreciation and amortization expense for 2025 is expected to be in the range of $55 to $59 million, excluding the expected amortization of acquired intangible assets.</li>
<li>The effective tax rate on adjusted earnings for the full year 2025 is expected to be in the range of 28.5 to 30.5 percent. Significant changes in trading volume, expenses, tax laws or rates and other items could materially impact this expectation.</li>
<li>Capital expenditures for 2025 are expected to be in the range of $75 to $85 million.</li>
</ul>

Guidance

Cboe Global Markets Expects FY25 Organic Net Revenue Growth Of Mid-Single-Digit, Capex Of $75M-$85M

Earnings Misses

Cboe Global Markets Q4 2024 Adj. EPS $2.10 Misses $2.11 Estimate, Sales $524.500M Miss $525.880M Estimate

<h3>Companies Reporting Before The Bell</h3>
• Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) is expected to report quarterly earnings at $2.12 per share on revenue of $526.93 million. 
• Kimco Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>) is expected to report quarterly earnings at $0.42 per share on revenue of $510.83 million. 
• Bank Bradesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBD#NYSE">BBD</a>) is likely to report quarterly earnings at $0.09 per share on revenue of $6.10 billion. 
• Frontier Group Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>) is expected to report quarterly earnings at $0.13 per share on revenue of $986.50 million. 
• Plains GP Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAGP#NASDAQ">PAGP</a>) is projected to report quarterly earnings at $0.46 per share on revenue of $14.68 billion. 
• Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) is estimated to report quarterly earnings at $0.43 per share on revenue of $13.95 billion. 
• Newell Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) is expected to report quarterly earnings at $0.14 per share on revenue of $1.96 billion. 
• Iterum Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITRM#NASDAQ">ITRM</a>) is likely to report earnings for its fourth quarter. 
• Bank Bradesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBDO#NYSE">BBDO</a>) is expected to report earnings for its fourth quarter. 
• Graham (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHM#NYSE">GHM</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $49.50 million. 
• Listed Funds Trust Roundhill Cannabis ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/WEED#BATS">WEED</a>) is expected to report quarterly loss at $0.23 per share on revenue of $69.44 million. 
• Canopy Gwth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) is estimated to report quarterly loss at $0.31 per share on revenue of $69.55 million. 
• Perella Weinberg (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWP#NASDAQ">PWP</a>) is likely to report quarterly earnings at $0.23 per share on revenue of $222.65 million. 
• Green Plains (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRE#NASDAQ">GPRE</a>) is estimated to report quarterly loss at $0.21 per share on revenue of $646.03 million. 
• Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) is likely to report quarterly earnings at $0.21 per share on revenue of $1.13 billion. 
• Byrna Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYRN#NASDAQ">BYRN</a>) is projected to report quarterly earnings at $0.04 per share on revenue of $24.33 million. 
• Proto Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NYSE">PRLB</a>) is likely to report quarterly earnings at $0.32 per share on revenue of $120.12 million. 
• Construction Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROAD#NASDAQ">ROAD</a>) is expected to report quarterly earnings at $0.20 per share on revenue of $518.50 million. 
• Banco Santander Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSAC#NYSE">BSAC</a>) is expected to report quarterly earnings at $0.54 per share on revenue of $744.19 million. 
• Avantor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $1.72 billion. 
• Gorman-Rupp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRC#NYSE">GRC</a>) is projected to report quarterly earnings at $0.45 per share on revenue of $162.84 million. 
• GrafTech International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAF#NYSE">EAF</a>) is estimated to report quarterly loss at $0.12 per share on revenue of $131.77 million. 
• Fortive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) is projected to report quarterly earnings at $1.12 per share on revenue of $1.63 billion. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For February 7, 2025

Cboe Global Markets, Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) announced on Monday that it plans to offer 24-hour, five days a week trading for U.S. equities on its Cboe EDGX Equities Exchange, subject<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42822291/2025-industry-shake-up-goldman-highlights-kkr-raymond-james-hamilton-lane"> to regulatory review. </a> 
The Details: Cboe said the proposed expansion of trading hours aims to meet growing global consumer demand for access to U.S. equities markets.&nbsp;
"We continue to hear from market participants globally — particularly those in Asia Pacific markets like Hong Kong, Japan, Korea, Singapore and Australia — that they want greater access to U.S. equities trading and need trusted venues that can offer transparency, robust liquidity and efficient price discovery," said Oliver Sung, head of North American Equities at Cboe Global Markets. 
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Cboe said it plans to make all listed NMS stocks available for trading on the EDGX exchange for 24 hours every business day, excluding U.S. holidays, with <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42145634/cboe-to-launch-cash-settled-bitcoin-index-options">all trades </a>expected to be cleared through the Depository Trust and Clearing Corporation.&nbsp;
The company cautioned the plans are subject to regulatory approval from the Securities and Exchange Commission and Cboe will collaborate with other industry participants to ensure operational readiness for 24-hour trading.&nbsp;
"By leveraging our global infrastructure, leading-edge technology and proven experience facilitating around-the-clock trading in global markets, we believe we can seamlessly support a 24&#215;5 trading model for U.S. equities," Sung said. 
What Else: Several brokerage firms currently offer U.S. investors access to 24-hour trading.&nbsp;
Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) offers 24-hour trading for over 900 stocks and ETFs and Interactive Brokers Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) provides access to more than 10,000 U.S. stocks, ETFs and U.S. equity index options for overnight trading. 
Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) currently offers round-the-clock trading for about two dozen ETFs and plans to expand to all S&amp;P 500 and Nasdaq-100 stocks, as well as hundreds of ETFs, by 2025. 
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