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   Starbucks just strung four growth quarters together for the first time in around three years
  </div>
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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">
                      While anyone who only scanned the litany of headlines on the subject could be forgiven for thinking that it’s just “humanoid robots” from China that are being banned, the actual list — as confirmed to
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        The Verge
                       </strong>
                      </a>
                      by an FCC rep earlier this week — extends far beyond the automatons you see
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        falling over
                       </strong>
                      </a>
                      and
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        malfunctioning
                       </strong>
                      </a>
                      in viral clips.
                     </p>
                     <p style="margin:0;margin-bottom:16px">
                      Indeed, per the definition that the FCC set out in its
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        National Security Determination
                       </strong>
                      </a>
                      on the subject, China-made Roomba-style vacuum cleaners, robot lawnmowers, and the weirdly anthropomorphized
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        delivery bots
                       </strong>
                      </a>
                      that stalk US sidewalks would also be subject to the ban.
                     </p>
                     <p style="margin:0">
                      What a day yesterday was. The S&amp;P 500 rose about 1.7% while the Nasdaq 100 surged almost 3.4% thanks to a massive snapback in semi stocks that saw chipmakers have their best day since
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        last April
                       </strong>
                      </a>
                      .
                      <strong>
                      </strong>
                      And
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Microsoft
                       </strong>
                      </a>
                      rocketed higher, gaining 15.6%, adding
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        $450 billion
                       </strong>
                      </a>
                      to its value, the biggest single-day market cap bump in history. All the while, a previously red-hot AI-focused hedge fund was melting down (more on that below).
                     </p>
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                        CAFÉ OLÉ!
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                     <strong>
                      Starbucks just strung four growth quarters together for the first time in around three years
                     </strong>
                    </h1>
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                     <p style="margin:0;margin-bottom:16px">
                      When Brian Niccol first outlined his “Back to Starbucks” turnaround plan for the coffee giant in September 2024, much of the detail — from
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        the decision
                       </strong>
                      </a>
                      to buy 200,000 Sharpies to get your name wrong with, to referring to the ~$120 billion behemoth as “
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        the community coffeehouse
                       </strong>
                      </a>
                      ” — was dissected and derided. Now, less than two years later, the initiative looks like it might turn out to be a masterstroke.
                     </p>
                     <p style="margin:0;margin-bottom:16px">
                      Earlier this week,
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Starbucks
                       </strong>
                      </a>
                      raised its outlook for the full fiscal year and announced fiscal Q3 results that beat expectations, in what Niccol described as “the quarter our momentum became truly measurable.” Investors knocked back the double shot of good news with pleasure.
                     </p>
                     <p style="margin:0">
                      Alongside profit margins expanding for the second quarter in a row, the chain also managed to serve up something that it hasn’t since before the ex-
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Chipotle
                       </strong>
                      </a>
                      chief arrived at the company: a fourth consecutive quarter where same-store sales have risen, as turnaround efforts truly begin to take hold.
                     </p>
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                 <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
                  <tr>
                   <td class="pad" style="padding-top:10px;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">
                      Comparable store sales were up on Starbucks’ home soil as well as further afield, rising 8.1% in North America, 5.7% internationally, and some 7.9% globally. For context, that’s the highest growth rate that the company has posted since the last quarter of 2023, a short while before the company went on a six-quarter streak of slumping sales.
                     </p>
                    </div>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </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%">
       <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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-left:25px;padding-right:25px">
                 <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 align="center" class="pad" style="width:100%;padding-top:24px;padding-bottom:8px">
                    <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;margin-bottom:16px">
                      Although some of the smaller-seeming “community coffeehouse” steps that Starbucks has taken have grabbed headlines along the way, some of the bigger moves the company has made, like shutting
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        struggling locations
                       </strong>
                      </a>
                      , cutting jobs, and selling off a large chunk of its
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        notoriously
                       </strong>
                      </a>
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        ailing
                       </strong>
                      </a>
                      China business, have really started to make a difference of late.
                     </p>
                     <p style="margin:0">
                      Earlier this week, Niccol said his initial plan “was built on the simple belief that an exceptional cup of coffee… human connection… and a great customer experience win the day, every day.” With each quarter that passes, it gets a little harder to pour scorn on the coffee boss’s premise.
                     </p>
                    </div>
                   </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-top:15px;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:right;mso-line-height-alt:27px">
                     <p style="margin:0">
                      —
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Thomas Jones
                       </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 align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <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>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-6" 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-left:20px solid transparent;border-radius:0;border-right:20px solid transparent;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;background-color:#5869ff;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-bottom:5px;padding-top:5px">
                 <table border="0" cellpadding="10" cellspacing="0" class="image_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                  <tr>
                   <td align="center" class="pad" style="width:100%">
                    <div style="max-width:540px">
                     <img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Ffss%252Ffvl7w8%252Fa653a796-30cf-45d8-84c0-b5d15f63b6b1%252FScreenshot%252B2026-07-30%252Bat%252B1.14.48%25E2%2580%25AFPM.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3ODU0OTQwOTIuOTM1NDA5fQ:1wpkZo:KQBC6eU7Yhelg6qO8QXfNkHiUlE1sNMxvj0KEEAGjQM" style="display:block;height:auto;border:0;width:100%" title="" width="540"/>
                    </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-top:5px;padding-bottom:5px;padding-left:10px;padding-right:10px">
                    <div style="color:#fff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
                     <p style="margin:0">
                      That’s the share of US adults who now support the idea of banning mobile phones not just in the classroom, but for the full school day, per
                      <a style="text-decoration: underline; color: #ffffff;">
                       <strong>
                        a survey
                       </strong>
                      </a>
                      from Pew Research Center. That’s up from 36% who said the same just two years ago, and also marks the first point at which more Americans have supported the idea than opposed it.
                     </p>
                    </div>
                   </td>
                  </tr>
                 </table>
                </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%">
       <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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-left:25px;padding-right:25px">
                 <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 align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <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>
                   </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 align="center" class="pad" style="width:100%;padding-bottom:10px">
                    <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-top:5px;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">
                       Situational Awareness, a hedge fund set up by an ex-OpenAI researcher that quickly attracted attention for strong AI-driven returns, is looking to raise fresh capital after taking heavy losses,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         the Financial Times first reported
                        </strong>
                       </a>
                       . The fund exited all of its public stock positions, worth about $16 billion,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         CNBC reported
                        </strong>
                       </a>
                       , and Citadel, the $65+ billion AUM hedge fund and market maker, bought a large portion of those holdings,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         The Wall Street Journal reported
                        </strong>
                       </a>
                       .
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Netflix
                        </strong>
                       </a>
                       will pay
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         AMC Networks
                        </strong>
                       </a>
                       $500 million for streaming rights to “The Walking Dead” (and the six spin-offs that make up the extended universe) for another five years, having been the
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         exclusive US streaming home
                        </strong>
                       </a>
                       for the series since 2011.
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Yum! Brands
                        </strong>
                       </a>
                       posted solid results for the quarter just gone, though
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         execs conceded
                        </strong>
                       </a>
                       that
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Taco Bell
                        </strong>
                       </a>
                       sales have now slipped 2% in the wake of the cyclospora outbreak.
                      </li>
                     </ul>
                    </div>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-8" 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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-bottom:5px;padding-left:25px;padding-right:25px;padding-top:5px">
                 <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 align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <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>
                   </td>
                  </tr>
                 </table>
                </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;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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-bottom:5px;padding-left:25px;padding-right:25px;padding-top:5px">
                 <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 align="center" class="pad" style="width:100%;padding-bottom:10px">
                    <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>
                      Off the charts
                     </strong>
                    </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;margin-bottom:16px">
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Ferrari
                       </strong>
                      </a>
                      just announced that its first fully-electric vehicle has
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        already reached
                       </strong>
                      </a>
                      <strong>
                      </strong>
                      the company’s 2026 sales target just two months on from its launch.
                     </p>
                     <p style="margin:0">
                      Can you remember the name of the model, which costs $640K and
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        wasn’t exactly
                       </strong>
                      </a>
                      an immediate hit with investors, former execs, and internet pundits when it was unveiled in May?
                     </p>
                    </div>
                   </td>
                  </tr>
                 </table>
                 <table border="0" cellpadding="0" cellspacing="0" class="image_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                  <tr>
                   <td align="center" class="pad" style="width:100%;padding-bottom:10px">
                    <div style="max-width:550px">
                     <a target="_blank">
                      <img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Ffss%252Ffvl7w8%252F61dfd5a5-b1fb-49f3-89b6-0d136485223e%252Fimage1.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3ODU0OTQwOTIuOTM1NTEzM30:1wpkZo:KvQRcsqWi39Jcyy8PAqRv-K8loQfgk2Zx2tY_Nae1j4" style="display:block;height:auto;border:0;width:100%" title="" width="550"/>
                     </a>
                    </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">
                    <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">
                      <a style="text-decoration: underline; color: #5869ff;" target="_self">
                       <strong>
                        Answer here
                       </strong>
                      </a>
                      .
                     </p>
                    </div>
                   </td>
                  </tr>
                 </table>
                </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;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;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="col-pad" style="padding-left:25px;padding-right:25px">
                 <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 align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
                    <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>
                   </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>
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                    <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">
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                         Chevron
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                         Moderna
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                       all slated to release earnings before the bell.
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