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Overall yesterday, US airlines were in good spirits… except for Spirit Airlines itself, which saw an absolutely devastating drop in its stock after warning that five months after clawing its way out of bankruptcy, it may not survive, as executives warned in an SEC filing that Spirit continues to struggle in a “challenging pricing environment.”
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Presented by
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<span class="tinyMce-placeholder" style="word-break: break-word;">
Hey Snackers,
</span>
</h1>
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<p style="margin:0;margin-bottom:16px">
CEOs are
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
just like us
</strong>
</a>
: they don’t want to talk about a recession. We charted
<a style="text-decoration: underline; color: #5869ff;">
<strong>
every single time a CEO mentioned “recession”
</strong>
</a>
(and related synonyms) on earnings calls this quarter and discovered a sharp drop-off from Q1. Optimism about the economic outlook seems to be a prevailing view on prediction site
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Polymarket
</strong>
</a>
, too.
</p>
<p style="margin:0">
Stocks shot to fresh records Tuesday after
<a style="text-decoration: underline; color: #5869ff;">
<strong>
July inflation data
</strong>
</a>
<strong>
</strong>
in line with expectations
<strong>
</strong>
fortified bets that the Federal Reserve would deliver its first interest rate cut of the year next month. The S&P 500 rose 1.1%, the Nasdaq 100 climbed 1.3%, and the Russell 2000 soared 2.9%. This marked the S&P 500’s
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
first record close of August
</strong>
</a>
, with the tech-heavy Nasdaq 100 booking a record close as well as
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Meta
</strong>
</a>
.
</p>
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<div align="left" class="alignment">
<!--[if mso]>
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<span style="word-break: break-word; line-height: 16.8px;">
<strong>
SPIRITED AWAY
</strong>
</span>
</span>
<!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
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</table>
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
The Spirit is willing but the cash is weak
</strong>
</a>
</h1>
</td>
</tr>
</table>
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<p style="margin:0;margin-bottom:16px">
Overall yesterday,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
US airlines were in good spirits
</strong>
</a>
… except for Spirit Airlines itself, which saw an
<a style="text-decoration: underline; color: #5869ff;">
<strong>
absolutely devastating drop
</strong>
</a>
in its stock after warning that five months after clawing its way out of bankruptcy, it may not survive, as executives warned in an SEC filing that Spirit continues to struggle in a “challenging pricing environment.”
</p>
<p style="margin:0;margin-bottom:16px">
“Management has concluded there is substantial doubt as to the Company’s ability to continue as a going concern within 12 months from the date these financial statements are issued,” the filing said, explaining that the airline might not have the cash to stay afloat. In other words, we may soon see
<a style="text-decoration: underline; color: #5869ff;">
<strong>
the last of Spirit in the sky
</strong>
</a>
.
<strong>
</strong>
</p>
<p style="margin:0;margin-bottom:16px">
Spirit has been the target of buyouts from
<strong>
Frontier
</strong>
(
<a style="text-decoration: underline; color: #5869ff;">
<strong>
twice
</strong>
</a>
) and
<strong>
JetBlue
</strong>
(
<a style="text-decoration: underline; color: #5869ff;">
<strong>
once
</strong>
</a>
), but Spirit rejected Frontier’s low-ball offer and the JetBlue merger was blocked last year over
<a style="text-decoration: underline; color: #5869ff;">
<strong>
antitrust concerns
</strong>
</a>
. Now the airline may be grounded for good as it considers selling aircraft (
<a style="text-decoration: underline; color: #5869ff;">
<strong>
a trick it has done before
</strong>
</a>
) or some of its gate space at airports to raise cash and lift its spirits.
</p>
<p style="margin:0">
It’s been a rough ride for airlines recently, but other than Spirit, US airlines soared yesterday:
<strong>
Delta Air Lines
</strong>
,
<strong>
United Airlines
</strong>
,
<strong>
American Airlines
</strong>
,
<strong>
JetBlue
</strong>
, and
<strong>
Alaska Air
</strong>
shares all headed
<a style="text-decoration: underline; color: #5869ff;">
<strong>
skyward
</strong>
</a>
as investors seemingly bet that one airline’s loss is every other airline’s gain. Additionally,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
yesterday’s CPI report
</strong>
</a>
showed that plane ticket prices rose 4% in July. As airlines operate on
<a style="text-decoration: underline; color: #5869ff;">
<strong>
pretty thin margins on profits from plane tickets
</strong>
</a>
, that increase was welcome news for shareholders. Maybe not for customers, though.
</p>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
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<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
THE TAKEAWAY
</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%">
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<p style="margin:0">
Airlines are a tough business, and US budget airlines especially have been hit by a double whammy of inflation and tariffs raising their costs while also hitting the very budget-conscious customers they target. Southwest added bag fees, which could bring in
<a style="text-decoration: underline; color: #5869ff;">
<strong>
$1 billion in annual revenue
</strong>
</a>
<strong>
</strong>
(still below what
<a style="text-decoration: underline; color: #5869ff;">
<strong>
the big four earn
</strong>
</a>
from those fees), but Spirit already charges for choosing a seat, carry-on bags, and even in-flight sodas, so any cash infusion is unlikely to come from the customer side.
</p>
</div>
</td>
</tr>
</table>
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Read more
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Presented by Nasdaq
</strong>
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<strong>
Step into the Future with Nasdaq-100 Micro Index Options (XND
<sup>
®
</sup>
)
</strong>
</h1>
</td>
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<p style="margin:0">
Looking to modernize your investment approach?
<a style="text-decoration: underline; color: #5869ff;">
<strong>
XND® index options
</strong>
</a>
offer a streamlined way to engage with the dynamic Nasdaq-100 Index (NDX
<sup>
®
</sup>
):
</p>
</div>
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<strong>
Compact Exposure:
</strong>
Engage with the
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
NDX
<sup>
®
</sup>
at 1/100th notional size
</strong>
</a>
, offering flexibility without large commitments.
</li>
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<strong>
Cash Settlement
</strong>
: Simplify transactions by settling in cash at expiration, eliminating the need for physical delivery of underlying assets.
</li>
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<strong>
European Style Options
</strong>
: Exercise only at expiration, thereby eliminating early assignment risk.
</li>
<li style="Margin:0">
<strong>
Tax Benefits
</strong>
: Enhance overall returns with potentially favorable tax treatment.
</li>
<li style="Margin:0">
<strong>
Versatile Use
</strong>
: Generate income or manage risk through hedging against market volatility.
</li>
</ul>
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
Explore how XND
<sup>
®
</sup>
index options can elevate your investment strategy
</strong>
</a>
. Embrace innovation today.
</p>
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<strong>
ETHEREAL
</strong>
</span>
</span>
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
Why the No. 2 crypto is giving very No. 1 vibes
</strong>
</a>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" 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">
<strong>
Ethereum
</strong>
, the second-largest cryptocurrency by market cap, is thriving. Its price has been on an absolute tear,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
up over 32% this year
</strong>
</a>
to outpace
<strong>
bitcoin
</strong>
’s rise, and it’s closing in on the all-time high set in 2021. Meanwhile, spot ethereum ETFs are finally seeing the kind of action we’ve come to expect from
<a style="text-decoration: underline; color: #5869ff;">
<strong>
bitcoin ETFs
</strong>
</a>
, crossing
<a style="text-decoration: underline; color: #5869ff;">
<strong>
$1 billion in daily inflows earlier this week
</strong>
</a>
for the first time.
</p>
<p style="margin:0;margin-bottom:16px">
Not to mention big-deal money and big-deal names are pouring into the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
ethereum treasury
</strong>
</a>
<strong>
</strong>
reserve space, with
<strong>
Peter Thiel
</strong>
’s Founders Fund
<a style="text-decoration: underline; color: #5869ff;">
<strong>
acquiring a 7.5% stake in ETHZilla Corporation
</strong>
</a>
, which holds over
<strong>
$357 million
</strong>
in ethereum. This follows his fund’s 9.1% stake in
<strong>
BitMine
</strong>
, the largest ethereum treasury firm and holder of a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
multibillion-dollar pile of the tokens
</strong>
</a>
.
</p>
<p style="margin:0">
At the same time,
<strong>
SharpLink Gaming
</strong>
— which boasts
<strong>
Joseph Lubin
</strong>
, cofounder of ethereum, as its chairman — has almost 600,000 tokens and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
expects to grow that to a pile of 1 million in the “near term.”
</strong>
</a>
<strong>
</strong>
Lubin is bullish on the long term, too, telling Sherwood News:
</p>
</div>
</td>
</tr>
</table>
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<tr>
<td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top: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">
“ETH and BTC are increasingly being seen as the highest-powered money on the planet in the sense that they are uncensorable, credibly neutral even at the nation-state level, and, unlike nation-state fiat currencies, they cannot be used to exploit or financially repress the citizens of a nation.”
</li>
</ul>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" 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">
But he also had a lot to say about how ethereum was different from bitcoin and why SharpLink
<strong>
</strong>
has “far greater flexibility than BTC treasury companies
<a style="text-decoration: underline; color: #5869ff;">
<strong>
to grow investors’ value
</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-10" 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:8px;padding-top:24px;text-align:center;width:100%">
<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
THE TAKEAWAY
</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">
<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">
We’ll let Lubin make the case for ethereum’s future more eloquently than we could: “For 10 years, ethereum has run 24/7/365, flawlessly and with perfect uptime. Last year, it settled $25 trillion in financial activity. Ethereum is home to by far the largest share of stablecoins,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
RWAs, and other tokenized assets
</strong>
</a>
— and hosts the vast majority of DeFi activity. Nothing else even comes close.”
</p>
</div>
</td>
</tr>
</table>
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<strong>
Read our revealing interview with Lubin
</strong>
</span>
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<strong>
THE BEST THING WE READ TODAY
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</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;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>
Exclusive: Interview with D-Wave CEO Alan Baratz
</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">
We spoke with Baratz to discuss quantum computing competing against (and working with) AI, his potential M&A plans, and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
a recent technological breakthrough from D-Wave
</strong>
</a>
that competitors are itching to get their hands on.
</p>
<p style="margin:0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Pick Dr. Baratz’s brain with us.
</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-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="button_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="text-align:left">
<div align="left" class="alignment">
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<![endif]-->
<span class="button" style="background-color: #5869ff; border-bottom: 2px solid #000000; border-left: 2px solid #000000; border-radius: 7px; border-right: 2px solid #000000; border-top: 2px solid #000000; color: #ffffff; display: inline-block; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 14px; font-weight: 400; mso-border-alt: none; padding-bottom: 2px; padding-top: 2px; padding-left: 11px; padding-right: 11px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
<span style="word-break: break-word; line-height: 16.8px;">
<strong>
MOVES
</strong>
</span>
</span>
<!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-3" 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>
Yesterday’s Big Daily Movers
</strong>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="list_block block-4" 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>
Tilray
</strong>
continued to rally on a report that President Trump is considering
<a style="text-decoration: underline; color: #5869ff;">
<strong>
weed reform
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Sneaker brand
<strong>
On Holding
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
spiked
</strong>
</a>
after reporting that sales surged 32% in its second quarter
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
EV maker
<strong>
Nio
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
hit the breaks
</strong>
</a>
after its weekly registrations dropped and Citigroup trimmed its holding
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Five Below
</strong>
rose after Loop Capital
<strong>
<a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
hiked its rating
</a>
</strong>
on the stock from “hold” to “buy”
</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;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 style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
Not to be outdone by
<a style="text-decoration: underline; color: #5869ff;">
<strong>
OpenAI
</strong>
</a>
,
<strong>
Anthropic
</strong>
is now offering Claude AI to federal agencies for
<a style="text-decoration: underline; color: #5869ff;">
<strong>
only $1
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Meanwhile,
<strong>
xAI
</strong>
CEO Elon Musk is
<a style="text-decoration: underline; color: #5869ff;">
<strong>
accusing
</strong>
</a>
<strong>
Apple
</strong>
of favoring OpenAI
</li>
<li style="Margin:0 0 8px 0">
And AI startup
<strong>
Perplexity
</strong>
made a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
$34.5 billion offer
</strong>
</a>
to buy the Chrome browser from
<strong>
Google
</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-14" 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-15" 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>
In July, Tesla had the biggest vehicle price drop of any EV manufacturer.
</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-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;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;">
Wednesday
</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-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="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>
Cisco
</strong>
</li>
</ul>
</div>
</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: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:11px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:left;mso-line-height-alt:13px">
<p style="margin:0;margin-bottom:16px">
</p>
<p style="margin:0;margin-bottom:16px">
<strong>
Advertiser's disclosures:
<br/>
</strong>
<em>
Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or digital asset or any representation about the financial condition of any company.
</em>
<em>
Additionally, nothing contained herein should be construed as tax advice.
</em>
</p>
<p style="margin:0;margin-bottom:16px">
<em>
Nasdaq
<sup>
®
</sup>
is a registered trademark of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security, digital asset or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or digital asset or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing.
</em>
</p>
<p style="margin:0">
<em>
Investing in options carries unique risks. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
</em>
</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-18" 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="10" 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">
<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">
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