🛩️ Canada Day gift for Bombardier

Good evening. A new trade deal with Vietnam raised hopes for more agreements ahead of the July 9 tariff deadline. At the same time, a surprise drop in private-sector jobs from ADP added to evidence that the labor market is slowing down. It could push the Federal Reserve to start cutting interest rates sooner.

⬆︎⬇︎ 1-day change
Market data: today’s market close

WINNERS

⬆︎21.37% Bombardier

Happy Canada Day. The Canadian jet-maker behind the Challenger and Global aircraft announced a $1.7 billion deal with a mystery buyer for 50 private jets, with options to buy 70 more, pushing the potential total to $4 billion. Analysts say deals this size are rare. Some speculate the buyer might be a new player from the Middle East, given Bombardier’s recent moves in the region. [Read more]

⬆︎4.48% Constellation Brands

🛎️ Earnings report - Someone cracked open a few too early. The beverage company behind Corona and Modelo actually missed earnings expectations last quarter. Its core Hispanic customers (who make up about half of its sales) are gathering less often, leading to a dip in beer consumption amid rising immigration tensions in the U.S. Still, the company is holding firm on its full-year profit forecast, which caught investors by surprise. [Read more]

⬆︎4.06% Nike

Your Air Max won’t come with a tax max. After months of trade uncertainty, Trump announced a finalized deal with Vietnam that includes a 20% tariff on imports, far lower than the 46% rate previously floated. It does include a 40% tariff on “transshipping” though. That’s a big deal for brands like Nike, which makes about half its shoes in Vietnam. [Read more]

⬆︎⬇︎ 1-day change
Market data: today’s market close

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LOSERS

⬇︎3.36% Adobe

Can we Ctrl+Z this downgrade? The design software leader behind Photoshop and Illustrator just got hit with a rare downgrade from Redburn-Atlantic, who cut their rating from Neutral to Sell. They slashed the price target from $420 to $280. Why? Generative AI tools like Midjourney and Sora are gaining traction fast. They think Adobe doesn’t have a clear short-term answer. [Read more]

⬇︎40.27% Centene

Maybe the insurer needs to be insured. The health insurer known for its Obamacare plans says Medicaid rising costs in behavioral health, home care, and pricey drugs are straining its business. It now expects to spend more of each premium dollar on medical care and pulled its 2025 earnings forecast as a result. [Read more]

⬆︎⬇︎ 1-day change
Market data: today’s market close

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