🄣 Your cereal just got a chocolate boss

+ Delta crushed earnings and gave the whole airline sector a lift

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Good evening. Trump woke up and did what he does best, slapped on another tariff. This time it’s a 50% tariff on copper imports and… Brazil. Brazil’s president says they’ll return the favor. In other words: water’s wet and sky’s blue.

Nasdaq
ā¬†ļøŽ0.09%

S&P 500
ā¬†ļøŽ0.27%

Dow Jones
ā¬†ļøŽ0.43%

ā¬†ļøŽā¬‡ļøŽ 1-day change
Market data: today’s market close

WINNERS

ā¬†ļøŽ50.62% MP Materials

The U.S. is getting serious about rare earth independence, and MP Materials (America’s only major rare earth mine) is right in the middle of it. The Pentagon just took a 15% stake in the company through a $400 million deal that includes a 10-year supply contract and minimum pricing for key materials. [Read more]

ā¬†ļøŽ30.63% Kellogg

Breakfast is served. Ferrero, the family-run chocolate empire behind Nutella & Kinder, is moving deeper into American kitchens with a $3.1 billion deal to buy WK Kellogg, the maker of Froot Loops and Corn Flakes. WK Kellogg has struggled with slowing cereal sales and health backlash over artificial ingredients. [Read more]

ā¬†ļøŽ11.99% Delta

šŸ›Žļø Earnings report - Delta just dropped its Q2 earnings, and they came in hot. The premium-focused airline pulled in $15.5 billion in revenue (up 1% year-over-year) and reinstated its full-year guidance after pulling it earlier this year, crediting the new tax bill and progress on trade deals. Its Amex credit card partnership brought in $2 billion last quarter, premium seat sales rose 5% but main cabin’s slightly dipped. Airline stocks took off after the report. [Read more]

ā¬†ļøŽā¬‡ļøŽ 1-day change
Market data: today’s market close

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LOSERS

ā¬‡ļøŽ4.53% Workday

Workday just got dinged by Piper Sandler, which cut its rating from Neutral to Underweight and lowered the price target from $255 to $235. The concern? As companies adopt more AI, they might need fewer employees. Bad news for a business built around managing people. [Read more]

ā¬‡ļøŽ4.65% Embraer

Jet lag for Brazil. Trump just escalated tensions with Brazil, threatening 50% tariffs on Brazilian goods over political grievances. Bad news for Embraer, the Brazilian aircraft maker that exports jets to the U.S. and already faces pressure from new trade barriers. The tariffs could also hit other key Brazilian exports like steel, machinery, and minerals. [Read more]

ā¬‡ļøŽ6.89% Autodesk

A power shift could be loading. According to Bloomberg, the 3D design software company is exploring a possible deal to acquire PTC, a rival known for its CAD tools like Creo and Onshape. The move could help Autodesk break deeper into the manufacturing and aerospace worlds. But it’s a bold bet: PTC is a $21B company, making this Autodesk’s biggest deal ever if it goes through. Some investors are nervous it could distract from Autodesk’s profit goals. [Read more]

ā¬‡ļøŽ9.43% Atlassian

The two biggest names at Atlassian just cashed out. The teamwork software company filed notice that co-founder & CEO Mike Cannon-Brookes sold around $1.6 million worth of shares, while fellow co-founder Scott Farquhar also sold a smaller batch. They still hold large stakes in the company, but the filings caught investor attention. [Read more]

ā¬†ļøŽā¬‡ļøŽ 1-day change
Market data: today’s market close

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THE END

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