Large language models (LLMs) have recently demonstrated strong capabilities as autonomous agents, showing promise in reasoning, tool use, and sequential decision-making. While prior benchmarks have evaluated LLM agents in domains such as software engineering and scientific discovery, the finance domain remains underexplored, despite its direct relevance to economic value and high-stakes decision-making. Existing financial benchmarks primarily test static knowledge through question answering, but they fall short of capturing the dynamic and iterative nature of trading. To address this gap, we introduce StockBench, a contamination-free benchmark designed to evaluate LLM agents in realistic, multi-month stock trading environments. Agents receive daily market signals -- including prices, fundamentals, and news -- and must make sequential buy, sell, or hold decisions. Performance is assessed using financial metrics such as cumulative return, maximum drawdown, and the Sortino ratio. Our evaluation of state-of-the-art proprietary (e.g., GPT-5, Claude-4) and open-weight (e.g., Qwen3, Kimi-K2, GLM-4.5) models shows that while most LLM agents struggle to outperform the simple buy-and-hold baseline, several models demonstrate the potential to deliver higher returns and manage risk more effectively. These findings highlight both the challenges and opportunities in developing LLM-powered financial agents, showing that excelling at static financial knowledge tasks does not necessarily translate into successful trading strategies. We release StockBench as an open-source resource to support reproducibility and advance future research in this domain.

Long-video understanding~(LVU) is a challenging problem in computer vision. Existing methods either downsample frames for single-pass reasoning, sacrificing fine-grained details, or depend on textual reasoning over task-agnostic representations, hindering task-specific perception and exploration. In this paper, we propose VideoExplorer, a framework grounded in the principle of ``thinking with video'', which naturally intertwines planning, temporal grounding, and scalable perception into a coherent reasoning process. Rather than reasoning over a static context, VideoExplorer iteratively formulates sub-questions, locates relevant moments, and performs task-oriented, temporally scalable video understanding until reaching the final answer, enabling faithful, efficient, and interpretable reasoning. To address the lack of LVU training resources, we construct a long-video reasoning dataset using difficulty-adaptive sampling to ensure high-quality trajectories on complex tasks. Building on this dataset, we design a two-stage training pipeline: supervised trajectory initialization followed by trajectory-level preference optimization, encouraging adaptive temporal grounding and iterative information integration guided by downstream rewards. Extensive evaluations on popular long-video understanding and reasoning benchmarks demonstrate VideoExplorer's significant advantage over existing baselines, highlighting its robustness, adaptability, and efficiency. Our code is made publicly available in this repository(this https URL).