👖 Levi’s: stitched into our DNA

Good evening. Trump surprised everyone with a new 35% tariff on Canada, saying it was tied to the fight against fentanyl. He also warned that more tariffs could be coming for other countries. Investors were caught off guard after a week of shrugging off rising trade tensions.

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Market data: today’s market close

WINNERS

⬆︎11.76% Kratos
⬆︎11.04% AeroVironment

No more waiting around. Defense Secretary Pete Hegseth announced a new push to ramp up U.S. drone production by removing red tape and prioritizing “Buy American” policies. That’s big news for military tech firms like Kratos and AeroVironment, which specialize in low-cost drones for the battlefield. [Read more]

⬆︎11.25% Levi’s

🛎️ Earnings report - Classic denim still resonates. The denim icon just raised its full-year forecast after a standout Q2. Strong direct-to-consumer sales are fueling profits, and women’s apparel (led by its Beyond Yoga brand) is bringing in younger shoppers. To navigate rising tariffs, Levi’s is shifting more of its supply chain from China to countries like Bangladesh and Cambodia. [Read more]

⬆︎11.00% AMC

Rave reviews from critics. The world’s largest movie theater chain just got an upgrade from Wedbush, which bumped its rating from Neutral to Outperform and raised its price target from $3 to $4. The firm pointed to a more stable movie release calendar, progress in debt restructuring, and AMC’s growing global footprint in Europe. [Read more]

⬆︎4.84% Performance Food

Two of America’s biggest food distributors may be headed for a merger. Bloomberg reports that US Foods is exploring a takeover of Performance Food Group, a combo that would create a $100B food delivery giant serving restaurants, schools, and hotels. US Foods tried merging with Sysco in 2013, but regulators blocked it. If this deal moves forward, expect scrutiny again. [Read more]

⬆︎2.53% Kraft Heinz

Kraft Heinz is reportedly considering splitting up. According to The Wall Street Journal, the food giant may spin off much of its Kraft-branded grocery business into a new $20 billion company, while keeping sauces and condiments like Grey Poupon and Heinz in a separate business. Kraft Heinz is the pantry staple behind Lunchables, Capri Sun, Heinz ketchup, and Kraft mac & cheese. [Read more]

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Market data: today’s market close

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LOSERS

⬇︎4.43% Albemarle

Reality check. UBS downgraded Albemarle’s stock from Neutral to Sell and slashed its price target from $64 to $57, warning that lithium prices are likely to stay low through at least 2026 due to global oversupply. Albemarle is a major lithium producer that powers everything from EV batteries to smartphones. [Read more]

⬇︎5.26% Block
⬇︎5.73% PayPal

Pay up. JPMorgan, the largest U.S. bank, plans to start charging fintech firms like PayPal and Block for access to customer banking data. The new fees, shared with data aggregators, could total hundreds of millions and would hit payment companies hardest. The plan isn’t final yet, but it could shake up how fintech apps operate and access data going forward. [Read more]

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Market data: today’s market close

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