Khalid | ICG Trading Labs

Coca-Cola filed to list its Indian bottler, and none of the IPO money goes to the bottler. Hindustan Coca-Cola Holdings' draft prospectus, dated Nov 6, is entirely an offer for sale: up to 997.46M shares from its promoter, Hindustan Coca-Cola Overseas Holdings. Coca-Cola's side owns 60% of the company and Jubilant Beverages owns 40%. The profit line comes with a caveat. Gains from selling bottling territories were ₹839.44 crore in FY26, against restated profit of ₹1,165.05 crore. In FY24 they were ₹2,526.70 crore, against ₹2,812.10 crore. The shares would list on NSE and BSE.

$DNUT closed up 30.7% on Thursday after trading as high as $5.03 (+43%). The quarter behind it had revenue down 12.4%. On Friday it gave back 9.4% to $4.17. Most of that revenue drop was by design. Krispy Kreme sold its Japan business and its western U.S. joint venture to franchisees in March. Franchised shops made about 42% of Q3 systemwide sales, up from about 25% in fiscal 2025. Q3 (Krispy Kreme IR, Nov 5): Systemwide sales: $490.2M, +1.0% in constant currency Adj. EPS: $0.06 (was $0.01) Net leverage: 5.5x (6.7x at end of 2025) FY26 revenue guide: $1.35B to $1.40B (was $1.25B to $1.35B)

India's NSE and BSE open Sunday, Nov 8 for Diwali Muhurat trading: a single session, 2:20–3:30 PM IST. It's the first Muhurat session since the closing auction was introduced. For auction-eligible stocks, continuous trading ends at 3:15 PM and the auction runs 3:20–3:35 PM. All trades settle normally. Markets are shut again Tuesday, Nov 10 for Balipratipada.

Sell-side calls from Nov 3–5: $RIOT Bernstein PT $18→$30, Outperform (a day after cutting it from $35) $ARM Bernstein PT $480→$370, Outperform $APP Morgan Stanley PT $400→$450, Overweight $NET JPMorgan upgrade to Overweight, $350 PT unchanged Air China H shares: Goldman cut to Sell, HK$3.00 PT; 2027 jet fuel view $99→$120/bbl Each ticker's Research section on tickers.watch has the reports.

Strive ($ASST) booked $509.0M of Q3 net income on $2.7M of revenue. $533.7M of that was unrealized gain on its bitcoin. Operating costs were $38.7M, including a $14.7M write-down on a medical-device R&D asset. After $34.2M of preferred dividends, common holders got $474.8M, or $5.24 a diluted share. Buying sped up after quarter-end: 8,136 BTC in Q3, then 15,124 BTC from Oct 1 to Oct 30, taking the stack to 43,000. Cash stood at $490.4M. Shares closed +4.2% at $21.45 Friday. The fair-value line that made this profit cuts the other way in a quarter when bitcoin falls.

Gnosis Pay disclosed a data breach on the system behind its own branded cards. Detected Nov 3 on the legacy B2C card stack. Containment started within two hours; credentials replaced. Customer funds were not moved. The enterprise white-label card platform was untouched. Nov 6 notice: every affected customer got a customised email listing what was taken. 3D Secure is now mandatory for online card payments until that B2C system retires Dec 20 as already planned. Cointelegraph reviewed customer notices citing full card numbers, expiry, CVV, home addresses and linked wallet addresses for some users. Gnosis Pay did not publish a headcount.

Nubank ($NU) and Mercado Libre's Mercado Pago ($MELI) froze crypto transfers in Brazil on the same Friday. Both pointed to an outside vendor and named neither. Nubank paused crypto deposits and withdrawals, citing a failure at an external transaction-verification provider. Mercado Pago blocked some transfers to outside wallets after an incident at its risk and AML monitoring vendor. Buying and selling kept working at both. Fireblocks, Nubank's custody provider, said its platform was not the cause. Exame reports Nubank's direct transfers run through a Chainalysis partnership. Chainalysis took KYT and Address Screening offline Nov 4 after a breach and started a phased restore Nov 6. Neither gave a restart time in Friday's statements.

Greece just wrote its first real crypto tax code. Parliament passed Thursday. Rules apply Jan 1, 2027: • 10% on annual net crypto gains above €500 (cross it and the whole gain is taxed, not just the excess) • 15% on staking, lending and DeFi liquidity returns • Losses above €500 can offset future crypto gains for 5 years • 12 months to declare past gains without late-filing penalties Earlier draft floated 15% CGT. Lawmakers landed five points lower.

OKXICE's tokenized-stock roster just collapsed into crypto names. 67 issuers have objected under the SEC Innovation Exemption, about 90% of the original 62. Thursday's notice added $META, $PLTR, $SPGI, $KLAC and $SMCI; $AAPL was already on the list. Still with no disclosed objection: $MSTR, $COIN, $CRCL, $HOOD, plus Securitize and BitGo. Venue-only opt-out. Issuer-sponsored tokens sit on a different path.

First issuer-sponsored tokenized U.S. stock under the SEC Innovation Exemption. $CNTN traded on TSV Nov 4; atomic settlement on Canton. Fairmint (SEC TA) keeps the onchain register. Five North sold; DRW Cumberland bought; Flowdesk LP. Same rights as Nasdaq — not a wrapper.

Kalshi launched the first U.S. single-stock perpetual futures. CFTC cleared the contracts Nov 2; listing started Nov 5 under joint CFTC and SEC oversight. Over 50 names (NYSE/Nasdaq), long or short, no expiry. COO said first-morning volume topped $300M. Onshore equity perps that used to live almost entirely offshore.

First U.S. staked $INJ ETF is live on Nasdaq as $INJC. Canary holds INJ and seeks staking rewards into NAV. Listed Nov 5; Injective + Canary rang the Nasdaq bell Nov 6. Fee 1.10%. Not a 1940 Act fund. Brokerage access to staked INJ — no wallets needed.

Bank of Russia opened retail crypto rails. From Nov 17, non-qualified investors can buy Bitcoin, Ether and USDT via brokers, managers or exchangers. Cap: ₽300k (~$3,700) per intermediary per year. Risk test for everyone. Qualified: any crypto, uncapped. Moscow Exchange targets Dec 1 for $BTC / $ETH / $USDT on its stock-market stack.

FinCEN cut MEXC Global off U.S. banking rails. Nov 6 Treasury order (Op. Economic Outcast; §9714(a)): U.S. FIs may not process funds transfers involving the exchange. Effective 30 days after Federal Register publication. ≥$16B illicit flows May 2021–May 2026 (Iran/NK/Russia + cybercrime); ~$1.5B Russia-linked.

$PURR filed to become a U.S. futures broker, not just a HYPE treasury. Nov 5 Q3 (SEC EX-99.1): a subsidiary applied as a CFTC futures commission merchant. Subject to approval, it would carry U.S. accounts for permissioned HIP-3 markets on Hyperliquid. Q3 NI $620.6M was mostly unrealized HYPE gains. Filing is not approval.

DOL just sent its final 401(k) alts rule to OIRA. Received Nov 5 · RIN 1210-AC38 · Final Rule · Economically significant (DOL/EBSA) Title: Fiduciary Duties In Selecting Designated Investment Alternatives Safe harbor for fiduciaries. Does not require crypto on plan menus.

India was Asia's only major riser Friday. Chip markets crashed. Nifty 50: 25,030.35 (+2.01%) — 7th up day; week ~+8.6% (best since Feb 2021) Sensex: 81,028 (+2.17%) Kospi −6.0% · Nikkei −6.0% · TAIEX −4.5% Low AI weight + FII ~$1.6B Thursday (largest day in ~6 years). NSE

$NET jumped about 18% after hours. The regular session was sold off with the Nasdaq; then the print hit. Q3 2026 (Cloudflare IR, Nov 5): Revenue: $782.5M, up 39% (fastest in nearly 4 years) Non-GAAP EPS: $0.38 Non-GAAP op. income: $137.1M, ~18% margin Current RPO: up 37% Q4 guide: revenue $845M–$846M; non-GAAP EPS $0.43 FY26 raised: revenue $2.963B–$2.964B; non-GAAP EPS $1.35