🍿 Musk vs. Trump, round 52

Good evening. U.S. lawmakers passed Trump’s “ Big, Beautiful Bill” in the Senate with a 51-50 vote, thanks to Vice President JD Vance breaking the tie. Meanwhile, Fed Chair Jerome Powell said rate cuts likely would have come sooner if not for tariffs. He needs more data.

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

WINNERS

⬆︎8.89% Las Vegas Sands

Macau just dealt a winning hand. Casino revenue in the region surged 19% in June to about $2.6 billion, lifting results for major U.S. operators like Wynn Resorts, Las Vegas Sands, and MGM Resorts. Macau, a special administrative region of China and the world’s largest gambling hub, drives nearly half of these companies' profits. [Read more]

⬆︎7.59% Snap

Snapping past expectations. Wells Fargo bumped its price target on the social media app from $8 to $11, thanks to solid ad performance and steady growth in Snapchat+ subscriptions. The firm now expects 13% revenue growth for Q2 instead of the 6% estimate. [Read more]

⬆︎4.61% Ford

Trucks and hybrids are doing the heavy lifting. The iconic American automaker saw Q2 vehicle sales jump over 14%, far above the estimated 1.4% industry increase. The growth was led by strong demand for its F-Series trucks, which had their best Q2 since 2019, and a big boost in hybrid sales. [Read more]

⬆︎4.29% Hasbro

Goldman Sachs upgraded the toymaker from Hold to Buy, raising its price target to $8, 15% above the previous level. Hasbro’s breakout trading card franchise, Magic: The Gathering, continues to drive momentum, while core brands like Monopoly, Transformers, and Dungeons & Dragons round out its strong portfolio. [Read more]

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

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LOSERS

⬇︎4.54% Warner Bros

A billion-dollar reshuffle. The Newhouse family, longtime supporters of Warner Bros. Discovery, is selling more than half its stake (around $1.1 billion) bringing its ownership below the 5% threshold that requires public disclosure. The move is tied to estate planning and broader investment needs. The family also holds stakes in Condé Nast, Charter, and Reddit. [Read more]

⬇︎5.34% Tesla

Careful what you wish for. Musk continued his attacks on the new tax-cut bill that would remove subsidies for EV buyers, a change that could cost Tesla over a billion dollars in lost incentives. In response, Trump threatened to cut off billions in federal support to Musk’s companies. "He's upset that he's losing his EV mandate and… he's very upset about things but he can lose a lot more than that," said Trump. [Read more]

⬇︎9.03% AMC Entertainment

AMC’s debt story gets a rewrite. The movie theater chain struck a deal to restructure its debt, securing $223 million in new financing and converting up to $337 million of existing debt into stock, which means more shares will be created and current shareholders will face dilution. [Read more]

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

EXTRA

THE END

That’s it for today’s recap. We hope you found it valuable.

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