Selig's Nomination Aims to Bridge SEC-CFTC Crypto Divide

Shares of Smithfield Foods (NASDAQ:SFD) surged 6.8% in premarket trading after the meat processor reported third-quarter sales of $3.7 billion, a 12.4% increase year-over-year, according to a Seeking Alpha report. The company's performance was driven by robust demand across its packaged meats, fresh pork, and hog production segments, which saw sales growth of 9.1%, 12.0%, and 10.1%, respectively. Non-GAAP earnings per share of $0.58 exceeded the $0.50 consensus estimate, while operating profit rose 8.9% to $310 million. CEO Shane Smith attributed the success to vertical integration strategies that offset rising raw material costs, alongside a strong balance sheet with $3.07 billion in liquidity. Smithfield also reaffirmed its guidance for low-to-mid-single-digit sales growth in FY25 and emphasized its long-term focus on shareholder value creation.

In India, Suraj Estate Developers reported a 4% year-on-year rise in net profit to Rs 33.1 crore for Q2 FY26, with revenue increasing 33% to Rs 144.6 crore, according to a Business Standard article. The real estate firm's EBITDA grew 3% to Rs 65.6 crore, though its EBITDA margin declined to 45.1% from 58.3% a year earlier. Notably, pre-sales jumped 89% quarter-over-quarter to Rs 153 crore, driven by successful launches of projects like Suraj Aureva and Parkview 1. Rahul Thomas, a whole-time director, highlighted the company's "strong operational momentum" and brand strength in South-Central Mumbai.

TTK Prestige, a leading manufacturer of kitchen appliances, saw its consolidated net profit climb 21.5% to Rs 64.24 crore in Q2 FY26, according to a Business Standard article. Revenue from operations rose 11.15% to Rs 833.70 crore, supported by a 25.67% increase in profit before tax to Rs 88.47 crore. Despite a 3.97% decline in half-yearly net profit to Rs 90.86 crore, the company's operating revenue grew 7.85% to Rs 1,443 crore. The firm's cost of material consumed increased 5.08% year-on-year to Rs 169.20 crore, while employee benefit expenses rose 1.1% to Rs 79.87 crore.

Shenandoah Telecommunications (NASDAQ:SHEN) announced a 10% increase in its annual dividend to $0.11 per share, with a forward yield of 0.85%, according to a Seeking Alpha note. The dividend, payable on December 1, marks the company's second consecutive annual raise and reflects its ongoing efforts to reward shareholders amid a broader push into fiber-to-the-home internet services in Virginia.

Meanwhile, regulatory shifts in the crypto sector gained attention as Donald Trump nominated Michael Selig, currently chief counsel for the SEC's crypto task force, to lead the Commodity Futures Trading Commission (CFTC), according to a Bitget article. The move aims to unify oversight of digital assets between the SEC and CFTC, with Selig's expertise in bridging regulatory gaps expected to accelerate harmonization efforts. Lawmakers are working to clarify the CFTC's authority over crypto derivatives and tokenized assets, with a focus on coordinated milestones by year-end. Selig's nomination follows previous failed attempts to appoint industry-linked candidates, signaling a bipartisan push for clearer regulatory boundaries.