Flutter Entertainment

Flutter Entertainment shares fell about 2.8% intraday and stabilized around $98.55. Kalshi's announcement to introduce fees for combo and system bets from Aug. 19 could, according to Bank of America, materially weigh on FanDuel's EBITDA in the second half of the year. Additionally, Flutter disappointed with Q2: adjusted EPS missed consensus, the operating margin fell to -3.3%, and the revenue forecast for 2026 was lowered; CEO Peter Jackson is leaving the company. Analysts repeatedly cut price targets, leaving the stock trading more than 68% below its 52-week high. » More on de.investing.com

Flutter shares rose about 1% in premarket trading as they tried to recover from a sharp sell-off that pushed the stock to a new 52-week low of $89.71. The trigger was the Q2 report showing adjusted EBITDA fell 45% to $508m and a net loss of $296m, plus a marked cut to full-year guidance (revenue mean $17.91bn, adjusted EBITDA mean $2.655bn). Management attributed the downgrade to higher customer-acquisition spending in the US, increased gambling taxes in the UK, marketing for the Football World Cup and an NFL scheduling shift, calling the measures long-term strategic investment. The planned CEO transition to Dan Taylor on 1 October is creating short-term uncertainty, but analysts such as Jefferies remain constructive, while the stock has fallen about 65% from its 52-week high. » More on de.investing.com

Flutter missed Q2 EPS expectations and cut full-year U.S. EBITDA guidance for FanDuel by 22%, prompting a 13% share drop. CEO Peter Jackson will leave at the end of the quarter and Dan Taylor will become CEO effective Oct. 1. Flutter plans about $270 million of extra EBITDA investment in H2 2026 to boost promotions, rewards and customer protections as it seeks to regain U.S. market share. The company is also expanding FanDuel's prediction markets via Crypto.com and expects roughly $50 million in market-making revenue this year. » More on cnbc.com