Tradeweb: Q1 Earnings Snapshot

April 29, 2026 | 7:14 AM

NEW YORK (AP) — NEW YORK (AP) — Tradeweb Markets Inc. (TW) on Wednesday reported first-quarter net income of $205.3 million.

The company, based in New York, said it had earnings of 96 cents per share. Earnings, adjusted for non-recurring costs, came to $1.08 per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The electronic marketplaces operator posted revenue of $617.8 million in the period. Its revenue net of interest expense was $617.8 million, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $616.8 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TW at https://www.zacks.com/ap/TW

DOJ sues 2 Chinese companies over immersion water heaters that can catch on fire

July 22, 2026 | 1:10 PM

The Justice Department is suing two Chinese companies to force a mandatory recall of immersion water heaters, alleging that the products can overheat and catch fire "within minutes" after they're turned on, according to court filings obtained by CBS News. The heaters can be used in bathtubs and pools.The lawsuit, filed Wednesday in federal court in Washington, D.C., alleges that the two companies, Cixi Miaojie Electrical Appliance Co. and Changsha Jiayi Tianzhuo Trading Co., made and sold immersion water heaters to consumers under the brand "Lakkzoom." The lawsuit said the heaters could burst into flames if they are either completely or partially out of water. The heaters, according to the lawsuit, lack safety features to prevent the risk of overheating and fire, unlike other similarly priced immersion heaters on the market that automatically shut off if the heating element is not "in contact with water or reaches a dangerous temperature." File: Lakkzoom immersion water heater Government photo Acting Attorney General Todd Blanche said the department "will not allow dangerous products manufactured in China or elsewhere to flow to American consumers and expose unwitting families to the risk of serious injury or death."Lawyers for Cixi Miaojie Electrical Appliance Co. and Changsha Jiayi Tianzhuo Trading Co. did not immediately respond to a request for comment.The Justice Department filed the suit alongside the Consumer Product Safety Commission under the Consumer Product Safety Act, which allows civil lawsuits against manufacturers, importers, distributors and retailers to require a recall of products that present serious risks of injury or death. The complaint alleges that the CPSC received over 235 fire-related reports tied to the water heaters, and after investigation, the agency found that the devices could ignite within minutes in certain situations. The companies had sold more than 98,000 heaters in the United States, the complaint alleges, adding that since September 2024, there have been over 137 reported fire-related incidents involving the heaters. According to customer complaints cited in the court filings, some of the heaters melted down, sparked, and caught pools and bathtubs on fire."This caught on fire and almost burned my garage down," one customer said, according to the complaint. Another customer reported, "This thing somehow caught my bathtub on fire!"

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