The Royal Government of Bhutan has initiated a move of bitcoin holdings, sending over 184 BTC ($14 million) to trading firms, exchanges and new addresses in the past 24 hours as BTC fell to nearly $70,000 amid broader market volatility. Arkham onchain data shows transfers to entities including QCP Capital and a Binance hot wallet, with some coins flowing to fresh addresses.

The activity, Bhutan’s first major wallet movement in about three months, reflects a shift from reserve storage to liquidity management during a selloff. Bitcoin fell over 7% in 24 hours, while silver dropped as much as 17% and global equities declined amid concerns that AI spending is pressuring traditional software revenue models.

Bhutan, a rising sovereign bitcoin holder with holdings driven by state-backed mining, typically maintains low-profile wallet activity. These transfers do not confirm immediate selling but may indicate internal reshuffling or collateral management as holders treat BTC less as a static reserve and more as a balance-sheet tool during stress.

February 5 — Analysts warn that Anthropic’s and Palantir’s AI automation initiatives could structurally compress IT application services, which account for 40–70% of revenue for many firms, threatening earnings and valuations. Global IT stocks fell sharply this week, with India’s software exporters down 0.7% on Thursday after a 6% plunge on their worst session in nearly six years. Jefferies said the sector faces “more pain ahead,” while JPMorgan and Kotak Institutional Equities cautioned against overblown selloffs, noting that full displacement of mission-critical software is unlikely.

Formosa Plastics Group (3711-TW) reported at its earnings call that Q4 gross margin rose to 19.5%, the highest in over three years, driven by higher稼動率 and favorable exchange rates. Taxable net profit reached TWD 147.13 billion, up 35% quarter-over-quarter and 58% year-over-year, with basic EPS of TWD 3.37 per share setting a three-year high. For the full year 2025, the company posted EPS of TWD 9.37 per share.

Q4 revenue totaled TWD 1,779.15 billion, up 6% quarter-over-quarter and 10% year-over-year. Full-year 2025 revenue reached TWD 6,453.88 billion, up 8%, with gross margin at 17.7% and net profit at TWD 406.58 billion, up 25% year-over-year.

Advanced packaging revenue in Q4 reached TWD 1,097.07 billion, up 9% quarter-over-quarter and 24% year-over-year, with a gross margin of 26.3%, the highest in the segment, and an operating margin of 14.7%.

BNP Paribas (BNP:PA000000005) reported fourth-quarter net income of €2.33 billion, up 12% from €2.08 billion in the same period of 2025, according to a February 5, 2026 press release. The increase followed a 2.4% rise in net interest income and a 3.8% boost in non-interest income, partially offset by higher provisions for credit and operational risks.

The bank raised its 2028 capital and return on equity targets, reflecting continued confidence in its digital transformation and cost discipline. Full-year 2025 results, released concurrently, showed annual net income of €9.36 billion, a 10% improvement from 2024.

The insurance giant Allstate (ALL) reported Q4 profit up 12% to $1.2B, ending the period on December 31, 2025. Underwriting profit declined 2% to $1.1B, pressured by higher catastrophe losses and persistently low rates, while investment income rose 10% to $118M. CEO James B. Balsillie said the results reflect strong pricing and disciplined underwriting, with claims per policy remaining stable. The company reaffirmed 2026 earnings guidance of $1.45–$1.55 per share, up from $1.38–$1.48 in 2025.

Hannover Re (RN) released results for FY25 (Jan-Jun 2025), reporting net profit of €312 million, a 23% increase from €254 million in FY24. Reinsurance revenue rose 12% to €1.04 billion. The company attributes the improvement to stronger catastrophe loss trends and pricing gains in the reinsurance segment. Management reaffirmed its FY26 profit outlook of at least €320 million, citing continued pricing discipline and favorable underwriting conditions.

FMC (FMC) reported a loss from continuing operations of $191 million in the fourth quarter ended December 31, 2025, a decline from $11 million in the same period of the previous year. Revenue fell to $3.41 billion in Q4, down from $3.68 billion in Q4 2024. The company attributed the results to softer demand in North America and lower prices in its global markets. Management said it is evaluating strategic options, including a potential sale of the company, to improve long-term value and address near-term challenges.

XORTX Pharmaceuticals (NASDAQ: XORT) extended the closing deadline for its acquisition of a renal anti-fibrotic therapeutic program, signaling continued momentum in its pipeline expansion. The revised timeline, effective February 15, 2026, follows positive preliminary regulatory discussions and aligns with the company's strategy to strengthen its indications in chronic kidney disease. The acquisition, valued at approximately $25 million, is expected to add a late-stage candidate with potential co-development opportunities. The stock closed 12% higher on the news, reflecting market confidence in the deal's strategic value and growth prospects.

Nordex AG (NDE.DE) announced the securing of a 56-MW community wind farm order in northern Germany, effective February 5, 2026. The project, located in Schleswig-Holstein, will be developed by the company’s local partner, Vattenfall, under a power purchase agreement (PPA) with a 20-year term. The order reflects continued momentum in offshore and onshore wind development in the region, adding to the company’s pipeline of renewable energy projects. The project is expected to create approximately 120 construction jobs and deliver about 180 GWh of annual electricity over its operational life.

Netmarble (NMTYL) reported in a February 5, 2026 filing that its operating profit for the fourth quarter rose 18% year-over-year to 1.32 billion KRW, driven by strong sales of mobile games and improved operational efficiency.

The company attributed the increase to higher ARPU from its popular battle royale and social games, as well as cost optimization initiatives. Revenue for the quarter reached 10.8 billion KRW, up 22% from the same period last year.

Netmarble's Q4 results follow a recent product lineup refresh, including the launch of new titles and updates to existing games, contributing to the upward momentum in its financials.

Shell reported Q4 profit up 43% to $13.6 billion, but adjusted EBITDA and revenue declined. Adj. EBITDA fell 12% to $14.9 billion, and revenue dropped 3.2% to $35.8 billion. The company announced a $3.5 billion share buyback program, effective immediately, as part of its capital return plan. Management attributed the decline in adjusted metrics to lower oil prices and reduced refining margins, while maintaining its guidance for 2026 capital spending of $20 billion.

Pandora (PANDA) reported Q4 revenue下滑 14% to $28.9M, missing analyst expectations of $33.5M. The decline follows a 23% drop in subscribers to 12.8 million, pressured by free streaming competition and shifting consumer habits. The company guided to a non-GAAP loss of $0.27 per share for full-year 2026, down from a breakeven forecast in 2025, citing continued ad revenue weakness and margin compression.

BT Group (LSE: BT) reported Q3 2025 results on February 5, 2026, showing a 12% year-over-year revenue decline to £1.89 billion and a 15% drop in adjusted EBITDA to £267 million, to £267 million. Net profit fell 28% to £147 million. The weakness reflects lower demand in core markets and ongoing pricing pressures. The company reiterated its guidance for 2025, maintaining full-year adjusted EBITDA at £1.05 billion, with a £100 million reduction in the guidance for the current year.

PC manufacturers are evaluating their first-ever sourcing of DRAM from China amid a global shortage and price escalation. According to Nikkei Asia, HP has begun authentication testing of DRAM from Dongguan-based DRAM maker Chelsio (CXMT), diversifying supply options. HP plans to monitor conditions through mid-year and may begin sourcing for non-U.S. markets if the shortage continues and prices rise. Dell is also conducting similar authentication tests.

The shift reflects a broadening of supply chains as major memory suppliers like Micron (MU), SK Hynix, and Samsung prioritize AI clients including NVIDIA (NVDA), Google (GOOGL), and Amazon (AMZN). Despite potential certification not guaranteeing adoption, Acer and HUAWEI are instructing their manufacturing partners to explore memory supply options from China. Chinese memorymakers Chelsio and Changan Memory (YMTC) are expanding capacity and starting to ship to domestic tech companies.

The Bank of England is expected to keep its main interest rate at 3.75% on Thursday, as inflation remains 3.4% above the 2% target and economic growth is strengthening. The BOE has trimmed rates every three months since December 2024, with further reductions likely this year. With early 2026 data indicating stronger demand and stickier prices, upcoming inflation readings will be critical in determining future policy moves. Lower rates can boost spending and investment but risk fueling inflation, prompting policymakers to balance growth and price stability. Prime Minister Keir Starmer’s government seeks a sharp easing in inflation to support borrowing and business activity.

Meta Platforms (META-US)’s internally developed Avocado large language model delivered strong results in early pre-training trials, according to a January 20 memorandum from the Meta Superintelligence Labs. The memo states Avocado is now the company’s most powerful pre-trained foundation model, outperforming leading open-source counterparts in knowledge, visual understanding, and multilingual capabilities prior to post-training fine-tuning.

The project is led by the newly formed Meta Superintelligence Labs, established under CEO Mark Zuckerberg’s restructuring of Meta’s AI initiatives. The team, headed by Scale AI’s Alexander Wang, is expected to release the model in the first half of 2026, though a formal timeline and open-sourcing plans have not yet been announced.

Fed Chair Lisa Cook warned inflation’s deceleration has stagnated, with core PCE near 3% and personal consumption expenditure (PCE) rising 2.9% in December 2025. Policy must remain hawkish until inflation stabilizes at 2%, with risks tilted upward due to persistently high prices and potential for inflation expectations to firm. She defended the FOMC’s decision to keep policy rates unchanged, noting current rates are only “moderately restrictive.” Market focus shifts to whether inflation can重回 2% and whether expectations become entrenched.

Separate from policy, Cook faces ongoing legal proceedings following a presidential effort to remove her via unverified mortgage fraud allegations, which were recently dismissed by federal and appellate courts. She will continue her duties without commenting further.

SpaceX has submitted an application to the Federal Communications Commission (FCC) to launch a constellation of non-geostationary satellites designed as an orbital data center, potentially supporting AI training at its xAI unit. The FCC began review on February 4, 2026, and is seeking public comment through March 6, 2026. The proposal envisions up to 100,000 satellites, not 1 million as previously stated, to offload high-energy AI computations into space. On February 1, 2026, Musk announced integrating xAI operations into SpaceX to centralize AI development and launch capabilities.

Maersk A/S (MRK) reported fourth-quarter operating profit in line with expectations, but warned that falling freight rates,叠加 ongoing industry headwinds, will weigh on earnings in 2026. The company cited soft shipping demand and pricing pressure as key factors pressuring future profitability. Q4 revenue totaled $1.28 billion, a 12% year-over-year decline, with net profit before special items at $346 million, down from $404 million in the same period last year.

Ecopro Biologics (ECP) reported a significant operational turnaround in Q4 2025, posting a net profit of $18.7 million, a 12% increase from the prior-year period. Revenue rose 15% to $219.3 million, driven by strong demand for its biologics and improved pricing. The company attributed the improvement to streamlined operations and higher utilization of its manufacturing capacity. CEO Dr. Michael Chen stated, "We are on track to achieve our full-year guidance, with continued momentum expected in the first quarter."