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Subscribed 4 years, 4 months ago
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Apple plans to pay Google about $1 billion a year to use the search giant’s AI model for Siri, Bloomberg reported yesterday.
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Presented by
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<h1 style="margin:0;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:30px;font-weight:700;letter-spacing:-2.5px;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:36px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
Hey Snackers,
</span>
</h1>
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<p style="margin:0;margin-bottom:16px">
Last month,
<strong>
Meta
</strong>
announced that its updated Instagram Teen Accounts would
<a style="text-decoration: underline; color: #5869ff;">
<strong>
limit content to what the Motion Picture Association calls a “PG-13” rating
</strong>
</a>
. While users mostly shrugged at the news, the MPA was not happy and sent the company a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
cease and desist letter
</strong>
</a>
, saying the organization worked for decades to earn the public’s trust and it doesn’t want Meta’s AI-powered
<a style="text-decoration: underline; color: #5869ff;">
<strong>
content moderation failures
</strong>
</a>
to blow back on it. We haven’t enjoyed news about MPA ratings this much since reading the “South Park” creators’
<a style="text-decoration: underline; color: #5869ff;">
<strong>
memo to the org
</strong>
</a>
as they tried to avoid an NC-17 rating.
</p>
<p style="margin:0">
US stocks regained momentum on Wednesday as the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Supreme Court weighed Trump’s tariffs
</strong>
</a>
, sending a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
bevy of tariff-sensitive stocks higher
</strong>
</a>
. The president also signaled heightened urgency to end the US government shutdown, buoying the S&P 500 and Nasdaq 100 to
<a style="text-decoration: underline; color: #5869ff;">
<strong>
solid gains
</strong>
</a>
, while the Russell 2000 outperformed.
</p>
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<span style="word-break: break-word; line-height: 16.8px;">
<strong>
GAINING ON LOSING
</strong>
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</span>
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
Blockbuster drug sales power Big Pharma’s Q3 earnings as tariff fears fade
</strong>
</a>
</h1>
</td>
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<p style="margin:0;margin-bottom:16px">
Drug sales, driven by blockbuster weight-loss and diabetes drugs,
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
continued to impress Wall Street this earnings season
</strong>
</a>
as the pharmaceutical industry’s tariff fears start to fade.
</p>
<p style="margin:0">
Most major drugmakers reported earnings that beat the Street’s estimates, while tariffs seemed to be an afterthought. All the while, a bitter bid-off between two major players
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
escalated
</strong>
</a>
as the reports rolled in.
</p>
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<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
This quarter solidified
<strong>
Eli Lilly
</strong>
’s dominance in the GLP-1 market. The company’s blockbuster diabetes and weight-loss medication, tirzepatide, which is sold under the brand names Mounjaro and Zepbound, was the most sold drug in the world this quarter —
<a style="text-decoration: underline; color: #5869ff;">
<strong>
by a lot
</strong>
</a>
.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Novo Nordisk
</strong>
, which was first to the GLP-1 game, appears to have lost its thunder. Sales of the company’s diabetes and weight-loss shot — semaglutide, which is sold under the brand names Ozempic and Wegovy — were flat quarter over quarter and about $2 billion less than Lilly’s competing shot.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Pfizer
</strong>
launched a legal battle this week against Novo for seeking to intercept its
<a style="text-decoration: underline; color: #5869ff;">
<strong>
acquisition bid
</strong>
</a>
for
<strong>
Metsera
</strong>
, an obesity biotech working on a next-generation GLP-1 drug.
</li>
</ul>
</div>
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<p style="margin:0">
Metsera
<a style="text-decoration: underline; color: #5869ff;">
<strong>
said on Monday
</strong>
</a>
that both Novo and Pfizer had sweetened their bids for the company, but Novo’s was still superior to Pfizer’s. Novo’s bid is worth up to $10 billion, while Pfizer’s is worth up to $8.1 billion.
</p>
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<span class="tinyMce-placeholder" style="word-break: break-word;">
THE TAKEAWAY
</span>
</h1>
</td>
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<p style="margin:0;margin-bottom:16px">
Tariffs on pharmaceuticals, which have rattled drugmakers’ stocks this year, have now taken a back seat as the administration’s policy stance takes shape. In September, Pfizer secured a three-year grace period from tariffs by committing to investing in US manufacturing and agreeing to sell its drugs at a discount to the government and through direct-to-consumer channels. Considering most Big Pharma companies have announced US investments this year and offer a DTC option on some drugs,
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
it gave a clear pathway for other drugmakers to strike similar deals
</strong>
</a>
.
</p>
<p style="margin:0">
The word “tariff” has gone
<a style="text-decoration: underline; color: #5869ff;">
<strong>
largely unmentioned
</strong>
</a>
on drug companies’ earnings calls, especially compared to the last two quarters.
</p>
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Presented by State Street Investment Management
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Don’t miss out on a mid-cap allocation
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Want a smart, time-efficient way to invest in companies like Williams-Sonoma, The New York Times Company, Chewy Inc. and more? Tap into the outperformance potential of 400 mid-sized companies in a single trade with
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
MDY — the original mid-cap ETF
</strong>
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.
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Wherever you’re headed, getting there starts
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
here
</strong>
</a>
.
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SIRI’S A GEMINI
</strong>
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<strong>
Apple to pay Google $1 billion a year for access to AI model for Siri
</strong>
</a>
</h1>
</td>
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<p style="margin:0">
<strong>
Apple
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
plans to pay Google about $1 billion a year
</strong>
</a>
<strong>
</strong>
to use the search giant’s AI model for Siri, Bloomberg reported yesterday.
<strong>
Google
</strong>
’s model — at 1.2 trillion parameters —
<a style="text-decoration: underline; color: #5869ff;">
<strong>
is way bigger
</strong>
</a>
than Apple’s current models.
</p>
</div>
</td>
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<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
The deal aims to help the iPhone maker improve its lagging AI efforts, powering a new Siri slated to come out this spring.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Apple had previously been considering using
<strong>
OpenAI
</strong>
’s ChatGPT and
<strong>
Anthropic
</strong>
’s Claude, but decided in the end to go with Google as it works toward improving its own internal models.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Google, which makes a much less widely sold phone, the Pixel,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
has succeeded in bringing consumer AI to smartphone users
</strong>
</a>
where Apple has failed.
</li>
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<p style="margin:0">
Google’s
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
antitrust ruling
</strong>
</a>
in September helped
<a style="text-decoration: underline; color: #5869ff;">
<strong>
safeguard
</strong>
</a>
<strong>
</strong>
the two companies’ partnerships — including the more than $20 billion Google pays Apple each year to be the default search engine on its devices — as long as they aren’t exclusive.
</p>
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<tbody>
<tr>
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<span class="tinyMce-placeholder" style="word-break: break-word;">
THE TAKEAWAY
</span>
</h1>
</td>
</tr>
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<p style="margin:0">
Apple’s lackluster AI efforts have been a bit embarrassing for a company that is more accustomed to utterly dominating in customer-facing consumer products. Its internal teams have been reliably raided by rivals, and given it’s got a massive cash pile, many were wondering at what point the iPhone maker would throw in the towel on its internal attempts to kickstart an AI business and just do the more logical avenue: namely, buying or renting one. It seems like for the time being, it’s going with
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
the latter option, at least until something better comes along
</strong>
</a>
.
</p>
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THE BEST THING WE READ TODAY
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<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px;padding-top:10px;text-align:center;width:100%">
<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Why Yum! Brands may sell off Pizza Hut
</strong>
</a>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
<p style="margin:0;margin-bottom:16px">
In recent years, 67-year-old chain
<strong>
Pizza Hut
</strong>
has
<a style="text-decoration: underline; color: #5869ff;">
<strong>
fallen behind
</strong>
</a>
rival
<strong>
Domino’s
</strong>
in the ’za-making stakes. But now, it looks like the Hut might no longer even have a place in its parent company’s portfolio.
</p>
<p style="margin:0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Read more
</strong>
</a>
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="divider_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-bottom:25px;padding-top:25px">
<div align="center" class="alignment">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
<span style="word-break: break-word;">
</span>
</td>
</tr>
</table>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-11" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px;padding-top:10px;text-align:center;width:100%">
<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<strong>
Snacks Shots
</strong>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="list_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
<tr>
<td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px">
<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
🏈
<strong>
TNF:
</strong>
Tonight the Las Vegas Raiders are heading to Denver for Thursday Night Football, and markets are placing the home team Broncos as the favorite with an 80% chance of winning.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
🏛️
<strong>
Tariffs:
</strong>
Yesterday, lawyers argued before the Supreme Court in the case V.O.S. Selections, Inc. v. Trump, which relates to the legality of Trump’s tariffs, and prediction markets think it went badly for the government. The implied probability of a Trump administration win in the case fell sharply from about 44% heading into the arguments to 29% by the early evening,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
according to Kalshi
</strong>
</a>
.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
💃 DWTS:
</strong>
Right now markets are giving Robert Irwin the best shot at winning “Dancing With The Stars” this season, pricing in a 50% chance of the zookeeping and conservation scion winning this season of
<a style="text-decoration: underline; color: #5869ff;">
<strong>
what has become the biggest show on television
</strong>
</a>
, followed by Alix Earle at 28% and Whitney Leavitt at 8%.
</li>
</ul>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="10" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
<p aria-setsize="-1" id="message-list_1761932419.092419" role="listitem" style="margin:0;margin-bottom:16px" tabindex="0">
</p>
<p style="margin:0;margin-bottom:16px">
*Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
</p>
<p aria-label="Start of unread messages." aria-roledescription="separator" aria-setsize="-1" id="message-list_unreadDivider" role="listitem" style="margin:0" tabindex="-1">
</p>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-12" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
<table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-bottom:25px;padding-top:25px">
<div align="center" class="alignment">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
<span style="word-break: break-word;">
</span>
</td>
</tr>
</table>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px;text-align:center;width:100%">
<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
What else we’re Snackin’
</span>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="list_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
<tr>
<td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px">
<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li style="Margin:0 0 8px 0">
Will they or won’t they… approve
<strong>
Tesla
</strong>
CEO Elon Musk’s $1 trillion pay package? Tesla bull Dan Ives thinks
<a style="text-decoration: underline; color: #5869ff;">
<strong>
the case is clear
</strong>
</a>
</li>
<li style="Margin:0 0 8px 0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
US airlines soared
</strong>
</a>
<strong>
</strong>
as Trump shifted his tone about the urgency of ending the shutdown
</li>
<li style="Margin:0 0 8px 0">
Wall Street hated
<strong>
Super Micro Computer
</strong>
’s trade-off of
<a style="text-decoration: underline; color: #5869ff;">
<strong>
profitability for sales
</strong>
</a>
</li>
<li style="Margin:0 0 8px 0">
China’s
<strong>
XPeng
</strong>
mimics
<strong>
Tesla
</strong>
, selling EVs, robotaxis, robots, and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
AI chips
</strong>
</a>
</li>
<li style="Margin:0 0 8px 0">
The median age of a first-time homebuyer in America just hit
<strong>
<a style="text-decoration: underline; color: #5869ff;">
the oldest point on record
</a>
</strong>
</li>
</ul>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-13" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-left:25px;padding-right:25px;padding-top:5px;vertical-align:top" width="100%">
<table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-bottom:25px;padding-top:25px">
<div align="center" class="alignment">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
<span style="word-break: break-word;">
</span>
</td>
</tr>
</table>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-14" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-size:auto" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-size:auto;background-color:#5869ff;border-bottom:30px solid #fff;border-left:30px solid #fff;border-radius:10px;border-right:30px solid #fff;border-top:30px solid #fff;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;border-bottom:4px solid #5869ff;border-left:4px solid #5869ff;border-right:4px solid #5869ff;border-top:4px solid #5869ff;padding-bottom:15px;padding-left:25px;padding-right:25px;padding-top:15px;vertical-align:top" width="100%">
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="text-align:center;width:100%">
<h1 style="margin:0;color:#fff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
Snack Fact of the Day
</span>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px;padding-left:40px;padding-right:40px;padding-top:10px">
<div style="color:#000;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:center;mso-line-height-alt:22px">
<p style="margin:0">
<a style="text-decoration: underline; color: #ffffff;">
<strong>
This year’s dramatic World Series finish drew baseball’s largest audience since 2017.
</strong>
</a>
</p>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-15" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
<table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-bottom:25px;padding-top:25px">
<div align="center" class="alignment">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
<span style="word-break: break-word;">
</span>
</td>
</tr>
</table>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="text-align:center;width:100%">
<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
Thursday
</span>
</h1>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-16" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
<table border="0" cellpadding="0" cellspacing="0" class="list_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
<tr>
<td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:5px">
<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
Earnings expected from
<strong>
D-Wave Quantum, ConocoPhillips, Oscar Health, Moderna, Cronos, Airbnb, Block, Warner Bros. Discovery, DraftKings, Opendoor Technologies, SoundHound AI, Peloton, Take-Two Interactive,
</strong>
and
<strong>
Affirm
</strong>
</li>
</ul>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-17" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:10px">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:left;mso-line-height-alt:22px">
<p style="margin:0;margin-bottom:16px">
<strong>
State Street Investment Management Disclosure:
<br/>
</strong>
</p>
<p style="margin:0;margin-bottom:16px">
<strong>
Before investing, consider the funds’ investment objectives, risks, charges, and expenses. To obtain a prospectus or summary prospectus, which contains this and other information, call 1-866-787-2257 or visit
</strong>
<a style="text-decoration: underline; color: #1d1d1d;">
www.statestreet.com/im
<strong>
.
</strong>
</a>
<strong>
Read it carefully.
</strong>
Investing involves risk. ALPS Distributors, Inc. (fund distributor); State Street Global Advisors Funds Distributors, LLC (marketing agent)
</p>
<p style="margin:0">
<strong>
<a style="text-decoration: underline; color: #1d1d1d;">
State Street Global Advisors (SSGA) is now State Street Investment Management. Please click here for more information
</a>
.
<br/>
</strong>
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="divider_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-bottom:25px;padding-top:25px">
<div align="center" class="alignment">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
<span style="word-break: break-word;">
</span>
</td>
</tr>
</table>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="10" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
<p style="margin:0;margin-bottom:16px">
<strong>
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3 days ago - hello@snacks.robinhood.com
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