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  <div class="sailthru-emco-preheader" style="display: none; max-height: 0px; overflow: hidden;">
   Last quarter, Meta’s revenue from its Reality Labs segment, which includes its AI smart glasses, was higher than analysts predicted and its losses were lower. Those losses relative to revenue were still massive — nearly 10x what it was bringing in — with the company posting an operating loss of $4.4 billion on revenue of $470 million.
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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">
                   In the 2017 HBO documentary “Becoming Warren Buffett,” the
                   <strong>
                    Berkshire Hathaway
                   </strong>
                   chair, a famous McDonald’s enthusiast, said
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     he uses the stock market to decide his breakfast
                    </strong>
                   </a>
                   : “When I’m not feeling quite so prosperous, I might go with the $2.61, which is two sausage patties…” Obviously, not only could Buffett afford the most expensive item on the
                   <strong>
                    McDonald’s
                   </strong>
                   menu, but his company
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Berkshire Hathaway has a big enough cash pile to buy
                    </strong>
                    <strong>
                     <em>
                      McDonald’s
                     </em>
                    </strong>
                    <strong>
                     outright
                    </strong>
                   </a>
                   . We made a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     list
                    </strong>
                   </a>
                   of other companies that Berkshire Hathaway’s $382 billion could buy.
                  </p>
                  <p style="margin:0">
                   The S&amp;P 500 and Nasdaq 100 had a
                   <a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
                    <strong>
                     positive start
                    </strong>
                   </a>
                   to what is historically the
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     best month of the year for stocks
                    </strong>
                   </a>
                   , almost exclusively powered by the AI trade as
                   <strong>
                    Amazon
                   </strong>
                   announced a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     $38 billion cloud computing deal
                    </strong>
                   </a>
                   with
                   <strong>
                    OpenAI
                   </strong>
                   , while the Russell 2000 fell. Consumer discretionary (which includes Amazon) and tech were the best-performing sector ETFs.
                  </p>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     PHONED IN
                    </strong>
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                  <strong>
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                    <span class="mce-content-body mce-edit-focus" data-position="40-0-1" data-qa="tinyeditor-root-element" id="779e6753-36b9-4379-ada7-5b380731d1ff" style="word-break: break-word; position: relative;">
                     <strong>
                      Meta still wants to have its iPhone moment
                     </strong>
                    </span>
                   </a>
                  </strong>
                 </h1>
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                  <p style="margin:0;margin-bottom:16px">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Last quarter
                    </strong>
                   </a>
                   ,
                   <strong>
                    Meta
                   </strong>
                   ’s revenue from its Reality Labs segment, which includes its AI smart glasses, was higher than analysts predicted and its losses were lower. Those losses relative to revenue were still massive — nearly 10x what it was bringing in — with the company posting
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     an operating loss of $4.4 billion on revenue of $470 million
                    </strong>
                   </a>
                   .
                  </p>
                  <p style="margin:0">
                   Meta has a couple of things that it’s great at and plenty of other things that it’s merely good at. Gadgets, at least so far, ain’t one of them. So,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     why hasn’t the company cut bait and moved on?
                    </strong>
                   </a>
                  </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">
                    Since the company started reporting those losses in late 2020, it’s totaled more than $73 billion.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    For Meta, the expense is worth it, as CEO Mark Zuckerberg believes the segment plays a key role in the company’s future. To put it simply, Meta doesn’t want to miss its iPhone moment again.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    “Certainly, the investment here is not just to build just the device. It’s also to build these services on top,” Zuckerberg replied to a question
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      during Meta’s earnings call last week
                     </strong>
                    </a>
                    . “Right now, a lot of people get the devices for a range of things that don’t even include the AI even though they like the AI. But I think over time, the AI is going to become the main thing that people are using them for and I think that that’s going to end up having a big business opportunity by itself.”
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
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                  <p style="margin:0">
                   In other words, Meta isn’t just betting on selling hardware. It’s betting that its AI services built on top of those devices will generate a new stream of revenue — much like
                   <strong>
                    Apple
                   </strong>
                   ’s ecosystem of services layered on the iPhone.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
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         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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          <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%">
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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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                <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">
                   Here, Meta — which (as Facebook) once tried and
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     failed
                    </strong>
                   </a>
                   to build its own smartphone — is hoping history will rhyme rather than repeat. The difference this time is that Meta wants to own both the devices and the software that runs on them.
                  </p>
                  <p style="margin:0">
                   Like Apple, which has turned its
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Services segment into a reliable profit engine
                    </strong>
                   </a>
                   even as hardware sales have wobbled, Meta wants to ride that same train: hardware as a gateway, software as the payoff.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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                  <a style="color:#ffffff;text-decoration:none;" target="_blank">
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                      Read more
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                  <span class="button" style="background-color: #5869ff; mso-shading: transparent; 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>
                     PUT UP OR SHUT UP
                    </strong>
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                  </span>
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:26px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:31px">
                  <strong>
                   <a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
                    Options markets signal “optimism peaks” for Magnificent 7 stocks
                   </a>
                  </strong>
                 </h1>
                </td>
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                <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">
                   Of all the many ways to measure investor sentiment — surveys, futures positioning, and more — one of our favorites might be through
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     the answer to this question
                    </strong>
                   </a>
                   : how much are traders willing to pay for options that offer upside in stocks compared to those that protect against downside?
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-5" 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: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">
                    Cboe’s head of derivatives market intelligence, Mandy Xu, noted that about three weeks ago, skew in the S&amp;P 500 spiked amid renewed market jitters over the
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      fraying of America’s trade relationship with China
                     </strong>
                    </a>
                    .
                    <strong>
                    </strong>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Skew, in this case, tracks the ratio between the implied volatility of puts versus calls, a proxy for the relative demand for bearish versus bullish options. Now that’s completely flipped on its head, for the index in general and for its largest components in particular.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    “The number of stocks in the S&amp;P top 100 trading with inverted call skew (a sign of extremely bullish sentiment where the OTM call trades at a higher volatility than the ATM call) has surged to a high of ~20% (vs. historical average of just 3%),” she wrote.
                   </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%">
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                <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">
                   So, what does that mean for the bull market?
                  </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-7" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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         <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%">
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                <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">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Zooming in on a similar measure
                    </strong>
                   </a>
                   , Goldman Sachs analyst Cullen Morgan showed that sentiment is particularly ebullient for the so-called Magnificent 7.
                  </p>
                  <p style="margin:0">
                   “Coming into earnings this week, put-call skew in the Mag7 complex inverted for the first time since December of last year (i.e. implied volatility of calls traded over puts),” he wrote on Friday. “This phenomenon has only happened a handful of times. The move implies investors are overwhelmingly positioned for continued upside. Historically, such low skew readings have tended to coincide with short-term consolidation or reversals as optimism peaks.”
                  </p>
                 </div>
                </td>
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                      Read more
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                  <!--[if mso]>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     THE BEST THING WE READ TODAY
                    </strong>
                   </span>
                  </span>
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Texas wants a piece of Wall Street
                   </strong>
                  </a>
                 </h1>
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                <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">
                   The Texas Stock Exchange (TXSE) — a Dallas-based challenger
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     pitching
                    </strong>
                   </a>
                   itself as a “pro-business” alternative to Wall Street —
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     announced
                    </strong>
                   </a>
                   an investment from JPMorgan last week, bringing its total funding above
                   <strong>
                    $250 million
                   </strong>
                   ahead of its planned 2026 launch. More than 70 investors have
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     joined so far
                    </strong>
                   </a>
                   ,
                   <strong>
                   </strong>
                   and TXSE’s debut marks the first SEC-approved exchange in decades that will eventually be able to both list as well as trade public companies’ shares.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="10" cellspacing="0" class="button_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad">
                 <div align="center" class="alignment">
                  <a style="color:#ffffff;text-decoration:none;" target="_blank">
                   <!--[if mso]>
<v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" xmlns:w="urn:schemas-microsoft-com:office:word"  href="https://link.sherwood.news/click/42315730.3089352/aHR0cHM6Ly9zaGVyd29vZC5uZXdzL21hcmtldHMvdGV4YXMtd2FudHMtYS1waWVjZS1vZi13YWxsLXN0cmVldC10eHNlLz91dG1fc291cmNlPXNuYWNrcyZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1zbmFja3NfMjAyNTExMDQmdXRtX2NvbnRlbnQ9MWIyOTRhY2YwNGIxMzMyNDJhZGMwNDI3ZmRhMWUyNjc/65c45ba339ac936dfb3135a2D0cc19bb1"  style="height:45px;width:198px;v-text-anchor:middle;" arcsize="9%" fillcolor="#5869ff">
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                   <span class="button" style="background-color: #5869ff; mso-shading: transparent; border-bottom: 0px solid transparent; border-left: 0px solid transparent; border-radius: 4px; border-right: 0px solid transparent; border-top: 0px solid transparent; color: #ffffff; display: inline-block; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 18px; font-weight: 400; mso-border-alt: none; padding-bottom: 5px; padding-top: 5px; padding-left: 20px; padding-right: 20px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
                    <span style="word-break: break-word; line-height: 36px;">
                     <strong>
                      Duopoly challenge
                     </strong>
                    </span>
                   </span>
                   <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                  </a>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-9" 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;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-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:disc">
                   <li style="Margin:0 0 8px 0">
                    <div>
                     <div style="margin-left:0">
                      <ul style="margin-top:0;margin-bottom:0;list-style-type:disc">
                       <li style="Margin:8px 0 8px 0">
                        📊
                        <strong>
                         Elections:
                        </strong>
                        Today there are gubernatorial elections in Virginia and New Jersey that traders have eyes on. Former Rep. Abigail Spanberger (D) is seen as a strong favorite, at 95%, to win in Virginia, while Rep. Mikie Sherrill (D) is priced at an 85% chance of victory in the Garden State.
                       </li>
                       <li style="Margin:0 0 8px 0">
                        <strong>
                         🚗 Tesla:
                        </strong>
                        Polymarket users are highly convinced that
                        <strong>
                         Tesla
                        </strong>
                        investors will approve CEO Elon Musk’s $1 trillion pay package later this week, with the market-implied likelihood on the event contract at one point
                        <a style="text-decoration: underline; color: #5869ff;">
                         <strong>
                          stretching above 97% on Monday
                         </strong>
                        </a>
                        , though it’s since come down to about 94%.
                       </li>
                       <li aria-level="1" style="Margin:0 0 8px 0">
                        🗽
                        <strong>
                         NYC:
                        </strong>
                        New Yorkers also head to the polls today and will select a mayor; Zohran Mamdani is strongly favored to win it, according to prediction markets. Traders are pricing in a 58% chance of a margin of victory of 15 points or more for the assemblyman.
                       </li>
                      </ul>
                     </div>
                    </div>
                   </li>
                  </ul>
                 </div>
                </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;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:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   *Event contracts are offered through Robinhood Derivatives, LLC - probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-5" 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-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: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-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;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">
                    “You don’t want to see how the sausage is made”: an expression that applies to meat, faux meat, and
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      now faux meat accounting
                     </strong>
                    </a>
                    , as
                    <strong>
                     Beyond Meat
                    </strong>
                    delays reporting earnings
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Experts predict
                    <strong>
                     bitcoin
                    </strong>
                    is “in for a choppy November,” despite the month being
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      historically great
                     </strong>
                    </a>
                    for the asset
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Kimberly-Clark
                    </strong>
                    will buy Tylenol maker
                    <strong>
                     Kenvue
                    </strong>
                    , the target of President Trump’s autism attacks, in a deal worth
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      $48.7 billion
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     IREN
                    </strong>
                    signed a
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      $9.7 billion agreement
                     </strong>
                    </a>
                    to provide AI cloud capacity to
                    <strong>
                     Microsoft
                     <br/>
                    </strong>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    And while the AI trade is hot, Trump faces an
                    <strong>
                     “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      impossible trinity
                     </strong>
                    </a>
                    <strong>
                     ”
                    </strong>
                    on AI and energy
                   </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-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;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-12" 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:#fff;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>
                     A record-breaking 59,000-plus runners ran the 2025 TCS New York City Marathon, the most of any marathon ever.
                    </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-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-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;">
                   Tuesday
                  </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-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;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>
                     Uber, Shopify, Spotify, Pfizer, Norwegian Cruise Line, SNDL, Hertz, Yum! Brands, AMD, Astera Labs, Beyond Meat, Pinterest, Cava, Amgen, Match Group, MARA Holdings, Tempus AI, Super Micro Computer, Rivian,
                    </strong>
                    and
                    <strong>
                     Live Nation
                    </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-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;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%">
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