1257 ET - Financial technology companies will have to contend with softness among lower-income consumers, Oppenheimer analysts write in a note, citing weakness in the labor market toward the end of 2025. "As a result, we take a more cautious view on discretionary and lower-income exposed names and favor geographically diverse, spending-agnostic networks," the analysts write. They lower earnings estimates for PayPal, Shift4, Block and Toast to "broadly reflect softness in discretionary spend at retail, restaurants and economy hotels," the analysts say. (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

January 12, 2026 12:57 ET (17:57 GMT)

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