CRESUD S.A.C.I.F. y A. announces its results for the first quarter of Fiscal Year 2026 ended September 30, 2025

Investing.com -- DoorDash (NASDAQ:DASH) stock rose 1.5% despite briefly spiking lower after Culper Research released a short report alleging the food delivery company has been systematically onboarding unauthorized workers.

The short seller claims DoorDash created a "backdoor" onboarding process in late 2021 by dropping Social Security Number requirements and allowing delivery couriers to verify using Individual Taxpayer Identification Numbers (ITINs), which don’t confer work authorization. According to Culper Research, this scheme may have resulted in unauthorized workers handling between 26% and 57% of the company’s deliveries.

The report alleges DoorDash implemented this change after being confronted by the IRS over SSN fraud on its platform. Former employees reportedly told Culper that deplatforming fraudulent drivers "would have led to a complete stall in operations" due to the company’s reliance on these workers.

Culper Research also claims regulators are cracking down, citing an "unprecedented" ICE/IRS partnership starting April 2025 that puts ITIN holders and their employers under federal scrutiny. The short seller further suggests DoorDash may be subject to an undisclosed SEC investigation based on a July 2025 FOIA request.

The report warns that even a small disruption to DoorDash’s driver supply could be devastating, calculating that a mere 10-11% increase in driver pay would eliminate the company’s entire $1.9 billion in 2024 adjusted EBITDA.

Despite these allegations, investors appeared to largely shrug off the report, with DoorDash shares maintaining positive territory during the trading session.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- The U.S. government shutdown that began October 1 could prove longer and more disruptive than past episodes, with entrenched political gridlock raising risks for investors, according to Jefferies.

This marks the 15th shutdown since 1980 and the fifth to affect all federal agencies. The longest, during Trump’s first term, stretched 35 days and cost $18 billion in federal spending and $3 billion in GDP, the Congressional Budget Office estimated.

Markets have historically recovered quickly from shutdowns, with the S&P 500 rebounding after the 2018–19 episode. But Jefferies strategists warned that “policy-linked sectors often experience heightened volatility during such episodes,” particularly if the standoff drags on.

1) ’Interest rate-sensitive sectors:’ The halt of government data releases, including CPI, GDP, and jobs reports, would create a “data vacuum” heading into the Federal Reserve’s October 28–29 meeting, strategists said.

Without these inputs, the Fed may strike a more cautious tone. While private surveys continue, Jefferies cautioned that “the lack of official confirmation may lead to misreads of economic momentum.” That raises the prospect of volatility in Treasuries, mortgage-backed securities, and FX markets.

2) ’Regulatory-dependent sectors:’ Agencies such as the SEC, FDA, and EPA would effectively freeze activity, delaying IPOs, drug approvals, and environmental permits.

Biotech, pharma, and capital markets firms with time-sensitive approvals or funding plans could be hit hardest, strategists said. 

"While some companies may benefit from reduced enforcement, others could face material delays in product launches or capital raising. Investors should monitor firms with pending approvals or compliance deadlines, as delays could affect valuations and deal pipelines," they wrote. 

3) ’Government contractors:’ Uncertainty looms for defense, healthcare, and IT contractors, as updated contingency plans have not been issued. Previous documents suggested large-scale furloughs, including two-thirds of IRS staff and 42% of HHS employees.

The Trump administration has hinted at even deeper cuts, which could disrupt project payment schedules. “Although most payments are eventually reimbursed, the heightened rhetoric around a dramatic reduction in federal services could introduce additional volatility,” the strategists said.

Large contractors such as Lockheed Martin, Boeing, and General Dynamics are among those with significant federal exposure.

4) ’Managed care:’ The fight over Affordable Care Act premium tax credits poses direct risks. Democrats want a ten-year extension, while Republicans are pushing for a clean resolution without long-term healthcare provisions.

If the credits lapse during open enrollment, premiums could rise and coverage could shrink, hurting managed care providers through weaker enrollment and delayed reimbursements.

Even if a short-term fix emerges, Jefferies warned that “the political standoff could pressure healthcare stocks in the near term.”

Investors should be looking for guidance from CMS and Congress on whether temporary or retroactive measures are under discussion, they added. 

Investing.com -- The U.S. government has entered a shutdown after lawmakers failed to bridge partisan divides, with the political fight centering on Medicaid provisions and expiring Affordable Care Act (ACA) subsidies.

Senate Democrats are holding firm, using the 60-vote threshold to push for repeal of certain Medicaid measures, limits on rescissions, and a one-year extension of ACA premium tax credits.

According to Jefferies analysts, Democrats view the subsidies as a winning issue, noting potential $400–$500 monthly premium hikes for households if credits lapse.

Republicans, meanwhile, are seeking to pass a continuing resolution (CR) through November 21 but need five more Democratic votes to reach the threshold. Only Sens. John Fetterman of Pennsylvania, Catherine Cortez Masto of Nevada, and Angus King of Maine have broken ranks so far.

With Sen. Rand Paul voting against the GOP measure, momentum in the upper chamber remains constrained while the House, currently in recess, shows no sign of revisiting its prior package.

The impact of the shutdown will not be uniform across government operations. Agencies funded solely by congressional appropriations face broad furloughs and work stoppages, while those with mandatory or fee-based funding, such as the Pentagon, IRS, FDIC, and Federal Reserve, can continue to function.

Essential staff, including TSA and air traffic controllers, are required to work without pay, though financial stress would escalate if payrolls are missed.

A prolonged standoff also raises the possibility of reductions in force. The Office of Management and Budget has considered such steps, though current plans focus on furloughs.

Jefferies analysts noted that “department heads may push back on mass firings,” given the need to retain critical staff.

Resolution paths remain limited. Lawmakers may break the impasse if more Senate Democrats join Republicans on the CR, or the shutdown could stretch through one or two missed pay cycles, with constituent pressure and open enrollment letters on ACA premiums forcing a compromise.

In that case, a one-year extension of the subsidies appears the most probable outcome. Eliminating the Senate filibuster has also been floated but is seen as highly unlikely.

Analysts said a drawn-out shutdown “increases operational risk for agencies and contractors dependent on appropriations,” with defense, healthcare, and government services stocks particularly exposed.

The debate over ACA subsidies is expected to drive near-term sentiment for managed care and hospital names, while political brinkmanship and delayed payrolls could weigh on consumer confidence.

Investing.com -- Strategy stock gained 2.7% in premarket trading after the company announced it no longer expects to fall under the 15% corporate alternative minimum tax (CAMT) following recent clarification from Treasury and the IRS.

The guidance, issued on September 30, clarified that unrealized cryptocurrency gains or losses may not count toward adjusted financial statement income (AFSI) when determining whether a company is subject to the 15% tax. Treasury and the IRS intend to issue revised proposed regulations similar to this interim guidance.

Strategy had previously expected to face the CAMT starting in 2026 due to unrealized gains on its digital assets as of June 30. However, with the new guidance, the company now plans to exclude unrealized gains and losses from the calculation of its AFSI, effectively removing it from the tax’s applicability.

The CAMT was introduced as part of the Inflation Reduction Act and applies to corporations with average annual adjusted financial statement income exceeding $1 billion over a three-year period. The clarification represents a significant regulatory development for companies holding substantial digital asset portfolios.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.