Polymarket has hired Jacob Horne, the co-founder of Zora, the app behind Coinbase's failed creator-coin experiment, to rebuild its onchain trading product. Chief executive Shayne Coplan announced the move Thursday.
Horne left Zora eight days ago after more than six years running it. His new job sets him against Kalshi, the exchange that now powers Coinbase's own prediction markets across the United States.
Polymarket runs two venues:
Traders outside the US use a market that settles on the Polygon blockchain, a corner of the industry known as Decentralized Finance (DeFi).
Americans use a separate exchange licensed by the Commodity Futures Trading Commission (CFTC).

#shayne

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The Federal Reserve doesn't set student loan rates directly, but its federal funds rate influences the 10-year Treasury yield (which determines federal loan rates) and the prime rate (which determines private loan rates).
But exactly how the Fed affects your cost of borrowing depends on the type of student loans and interest rate you have.
After the Federal Reserve's September 2026 meeting, it raised interest rates by 25 basis points. See how that might impact the cost of your student loans.
One of the Federal Reserve's main goals is to keep inflation under control. It does this partly by adjusting the federal funds rate — the rate banks charge one another for short-term loans.

#rate #loan #determines #interest

Fidelity Investments, an investment management company, recently released its second-quarter 2026 investor letter for the "Fidelity Dividend Growth Fund". The letter can be downloaded here. The Fidelity Dividend Growth Fund is a diversified large-cap equity strategy focused on capital appreciation through investments in large- and mid-cap stocks with strong dividend growth prospects. The fund returned 17.05% in the quarter, outperforming the S&P 500 Index, which gained 15.20%. U.S. stocks experienced significant gains in Q2, driven by increased spending on artificial intelligence. Technology stocks gained 31.79%, mainly driven by semiconductor companies, while the index faced a slight decline in June as investors considered the sustainability of AI-related profits amidst rising interest rates. Despite recent turbulence from the Middle East conflict, the fund remains optimistic about key investment themes, particularly in artificial intelligence. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Fidelity Dividend Growth Fund highlighted Allison Transmission Holdings, Inc. (NYSE:ALSN). Allison Transmission Holdings, Inc. (NYSE:ALSN) is a manufacturer of commercial-duty automatic transmissions and hybrid propulsion systems for medium- and heavy-duty vehicles. On September 14, 2026, Allison Transmission Holdings, Inc. (NYSE:ALSN) closed at $123.49 per share. Over the past month, Allison Transmission Holdings, Inc. (NYSE:ALSN) declined 1.56%, but its shares are up 40.84% over the past year. Allison Transmission Holdings, Inc. (NYSE:ALSN) has a market capitalization of $10.2 billion, and its stock has traded within a 52-week range of $76.01 to $137.62.
Fidelity Dividend Growth Fund stated the following regarding Allison Transmission Holdings, Inc. (NYSE:ALSN) in its Q2 2026 investor letter:
"Elsewhere in the industrials sector, Allison Transmission Holdings, Inc. (NYSE:ALSN) was another meaningful overweight at the end of June. This provider of automatic transmissions for medium- and heavy-duty vehicles has continued to benefit from accelerating industrial activity, driven by federal support for infrastructure and onshoring. In January, the company completed a major acquisition with the purchase of the Off-Highway Drive & Motion Systems business of Dana Incorporated, a leading provider of drivetrain and propulsion solutions. We like the prospects for this acquisition."
Allison Transmission Holdings, Inc. (NYSE:ALSN) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Allison Transmission Holdings, Inc. (NYSE:ALSN) at the end of the second quarter, which was 44 in the previous quarter. While we acknowledge the potential of Allison Transmission Holdings, Inc. (NYSE:ALSN) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely underval

Robinhood Markets (NASDAQ:HOOD) could gain an important new source of fee revenue with its recently launched Robinhood Chain platform. Activity on that blockchain is accelerating rapidly.
On September 4, Deutsche Bank raised its price target on Robinhood stock to $136 from $115. It also raised its earnings estimates for the company. The bank cited a sharp increase in Chain fee revenue as the reason for these upgrades.
Now, the more important question for investors is not whether the Robinhood Chain is generating fees. Instead, it is whether the recent surge in network activity can become a sustained source of earnings growth.
The pace and scale of the recent increase are difficult to ignore. Robinhood Chain's daily revenue run rate was below $200,000 through mid-August, according to data from DeFiLlama cited by Deutsche Bank. The figure jumped sharply to nearly $500,000 on August 29 before exploding to almost $1 million on August 30.
It kept rising from there. Daily revenue surpassed $1.9 million on August 31, reached $3.38 million on September 1, and hit $4.01 million on September 2.

#robinhood #revenue #chain #million

Harbor Funds, an investment management company, released its Q2 2026 investor letter for "Harbor Mid Cap Value Fund". The letter can be downloaded here. Global equities experienced a sharp rally in Q2 2026, with the S&P 500 returning 15.2%, its strongest quarter since 2020, driven by a shift from software to hardware in the Artificial Intelligence capital spending cycle. Small caps outperformed large caps, with the Russell 2000® gaining 21.5% compared to the Russell 1000's 15.1%. Growth stocks led within large caps, while Information Technology rose about 33%, contributing significantly to the S&P 500's return. The Harbor Mid Cap Value Fund returned 13.99%, outperforming its benchmark, the Russell Midcap Value Index. Strong stock selection in Consumer Discretionary, Real Estate, and Financials contributed positively, although an underweight in Information Technology negatively impacted results. Despite ongoing economic uncertainties, the investment philosophy remains committed to a disciplined value approach. Check the fund's top five holdings for its best picks in 2026.
In its second-quarter 2026 investor letter, Harbor Mid Cap Value Fund highlighted Garrett Motion Inc. (NASDAQ:GTX) as a material contributor to performance. Garrett Motion Inc. (NASDAQ:GTX) designs and manufactures engineered turbocharging and high-speed electric motor technologies for OEMs, distributors, and industrial fields. On September 04, 2026, Garrett Motion Inc. (NASDAQ:GTX) stock closed at $26.66 per share. The one-month return of Garrett Motion Inc. (NASDAQ:GTX) was -3.58%, and its shares gained 111.73% over the past 52 weeks. Garrett Motion Inc. has a market capitalization of $4.97 billion.
Harbor Mid Cap Value Fund stated the following regarding Garrett Motion Inc. (NASDAQ:GTX) in its Q2 2026 investor letter:
"The top contributors in the second quarter included three Information Technology holdings, as well as Garrett Motion Inc. (NASDAQ:GTX) in the Consumer Discretionary sector and State Street in Financials. Garrett Motion was up nearly 100% after a strong first quarter earnings report significantly exceeded ***** ysts' expectations and provided improved guidance going forward. The company has continued to generate good cash flow and buys back stock aggressively."
Garrett Motion Inc. (NASDAQ:GTX) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. According to our database, 49 hedge fund portfolios held Garrett Motion Inc. (NASDAQ:GTX) at the end of the second quarter, up from 46 in the previous quarter. While we acknowledge the potential of Garrett Motion Inc. (NASDAQ:GTX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

#garrett #fund

A large land-sale gain can push Medicare Part B premiums from $203 to $690 monthly, with the IRMAA impact arriving two years after closing.
Federal installment-sale rules let sellers spread gain recognition across multiple years, softening Medicare surcharges and Social Security tax exposure.
Taking the full lump sum eliminates buyer default risk, but installment sales may only reduce years spent at peak IRMAA tiers, not avoid them entirely.
Just released. Our ***** ysts combed the entire stock market and named the ten best stocks to buy right now. The report is free. Enter your email and see if any of your stocks made the cut.
A retired man in his late sixties owns rural land that suddenly sits in the path of a data center developer. The offer runs into seven figures. He is ready to sell, but instead of taking every dollar at closing, he negotiates payments over several years.

#irmaa #gain

With a market cap of $238.7 billion, California-based Arista Networks Inc (ANET) is a leading cloud and AI networking company that provides high-performance Ethernet switching, routing, and software solutions for large data centers, AI infrastructure, cloud providers, and enterprise networks. Its flagship Extensible Operating System (EOS) gives customers a highly programmable, automated, and scalable platform for managing complex networks.
Companies valued over $200 billion are generally described as "mega-cap" stocks, and Arista Networks fits right into that category. The company has become an important player in the AI infrastructure buildout, with its high-speed networking platforms designed to connect massive AI and cloud workloads. Arista is also expanding beyond its core data-center business into campus, routing, security, and WAN networking, broadening its addressable market.
Nvidia CEO Jensen Huang Says His $3.5 Billion MediaTek Deal Is 'Not Circular' Because 'They Do Their Own Business'
Strategy's Strategy Appears to Have Failed, and the Outlook of MSTR Stock Is Unfavorable
A Potential ****** eX Deal Could Meaningfully Accelerate Growth for Technip Stock

#deal #business

Vivakor (NASDAQ:VIVK) expects its Supply & Trading subsidiary to generate approximately $270 million in unaudited third-quarter revenue, marking a sharp increase from the approximately $40 million generated during the first six months of 2026 as recurring physical crude oil marketing programs scale.
Vivakor (NASDAQ:VIVK) expects approximately $270 million of Supply & Trading revenue for the three months ending September 30, 2026.
VST is now projected to generate approximately $313 million in revenue for the first nine months of 2026, including revenue recognized during the first half.
The Q3 revenue guidance is based primarily on recurring physical crude oil marketing programs currently in place.
Management stressed that recognized revenue differs from previously announced annualized commercial activity, which estimates the annual value of physical crude oil sales based on current pricing and expected volumes.

#approximately #NASDAQ #vivk

Meta is closing on Google in advertising. But Wall Street is still backing Alphabet stock.
In Q2, Meta made $59.36 billion from ads, up 27%, its filing shows. Alphabet made $63.27 billion from "Google Search & other," up 17%. The gap is $3.9 billion. It was almost double last year.
"Meta arguably has seen the largest impact from AI on ad growth and is on track to surpass Google Search this year," Bernstein ***** yst Mark Shmulik wrote.
His firm says Meta took nearly half of every new digital ad dollar in the quarter. AI is sharpening recommendations and targeting: Meta served 14% more ads and charged 12% more for each. Google and Amazon are benefiting too.
Note: Meta is competing on the Google Search and Other segment. Total Google advertising revenue was $81.63 billion.

#search #alphabet #wall #street

New York-based The Goldman Sachs Group, Inc. (GS) is a financial institution that provides a range of financial services for corporations, financial institutions, governments, and high-net worth individuals. With a market cap of $301.1 billion, the company specializes in investment banking, trading and principal investments, ****** et management and securities services.
Companies worth $200 billion or more are generally described as "mega-cap stocks," and GS definitely fits that description, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the capital markets industry. Goldman Sachs' diversified revenue streams, driven by trading and investment banking, help mitigate economic risks. Its strategic advisory, underwriting, and market-making expertise, showcase its strength in client transactions and risk management, giving it a competitive edge.
Dear Sandisk Stock Fans, Mark Your Calendars for August 31
Bill Gates Says 'We Need Time to Prepare' for an Economic Upheaval — Especially the $20-an-Hour Workers Being Replaced by $10-an-Hour Robots
Dear Palantir Stock Fans, Here's What Maven's Billion-Dollar ARR Means for PLTR

#financial #Stock #economic

The gold producer screens as a perfect bolt-on for a major, and with ownership so widely dispersed, the only real question is who might make the first move.
In a market that often rewards potential over profit, you sometimes find a company doing the opposite: generating serious cash flow from proven ******* ets, yet trading for a price that seems to ignore its own growth story. That's the situation at Fortuna Mining (FSM), a mid-tier gold producer whose numbers suggest it has the structural fingerprint of a takeover target. There is a concrete, named shortlist of who would most likely want to buy it, and why.
Why It Screens As A Target
First, the company looks inexpensive on its own merits. It trades at an EV/EBIT multiple of just 5.4x while delivering a return on invested capital of 21%. More importantly, it generates a powerful 17.9% free-cash-flow yield on enterprise value. The balance sheet makes a potential deal even easier to finance, with a net-debt-to-EBITDA ratio of -0.5x, indicating a net cash position. For a potential acquirer, this isn't about buying a turnaround project; it's about acquiring a de-risked, cash-generative production pipeline in key regions like West Africa and Latin America, with forward revenue growth estimated at 8.5%.
Who Would Want Fortuna Mining?

#screens

Altria (MO) and Chevron (CVX) anchor a three-stock dividend ladder that blends to a 4% yield and delivers a paycheck every month.
AbbVie's Skyrizi and Rinvoq each grew roughly 24% in Q2, fueling raised full-year EPS guidance and supporting a growing $1.73 quarterly dividend.
Read More: Learn 7 secret wealth tips high net worth investors use that most investors miss (sponsor)
Building a monthly income stream from quarterly dividend payers requires just a little scheduling. Three blue chips, staggered on different quarterly calendars, can deliver a paycheck in every month of the year. Altria (NYSE:MO) pays in January, April, July, and October. AbbVie (NYSE:ABBV) pays in February, May, August, and November. Chevron (NYSE:CVX) pays in March, June, September, and December. Together, these three tickers cover all 12 months while offering attractive dividends along the way.
Here is what each leg of the ladder actually pays, how it has grown, and where the risks sit.

#pays #Dividend #chevron #paycheck

SPAXX tracks T-bill yields near 4% but its 0.42% expense ratio ranks among the highest in its money market peer group.
VMFXX runs historically cheaper than SPAXX, and FDLXX delivers state-tax advantages, giving cost-focused investors two direct upgrades to consider.
Don't wait: the ****** yst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.
If you have a Fidelity brokerage account, there is a good chance your uninvested cash is already sitting in Fidelity Government Money Market Fund (NASDAQ:SPAXX) and you have never given it a second thought. Fidelity parks uninvested cash in SPAXX by default, and most investors never look. That is fine for a while. It becomes expensive the moment short rates start moving and you do not notice.
SPAXX is a government money market mutual fund run by Fidelity that holds short-term U.S. government securities, Treasury repurchase agreements, and cash. Its job is simple: preserve $1 per share, pay interest daily, and stay liquid. It sits inside the Fidelity Hereford Street Trust and doubles as the core position, meaning it is where trade proceeds, dividends, and deposits land automatically until you invest them.

#spaxx #money #fund

This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter.
Sazerac acquired a Kentucky distillery, the company's latest investment in building out its spirits portfolio.
The Buffalo Trace owner said Friday the Garrard County Distilling facility in Lancaster, Kentucky, will provide additional production capacity to support growing demand for its spirit brands. The whiskey company reportedly bought the plant during a court ordered auction for about $20 million.
Last year, Sazerac disclosed plans to spend $1 billion on new and existing facilities to expand spirits production in and around Kentucky.
Sazerac has had a busy year, aggressively expanding with new acquisitions and innovations in buzzy categories like ready-to-drink ****** tails and soju. The new distillery purchase, however, signifies that though it's expanding into other segments, it's not abandoning its original whiskey focus. The company will use the property to service its entire portfolio with production and aging capabilities.

#production #daily #spirits

South Florida real estate broker Todd Nepola has harsh words for anyone who believes buying a home is a smart investment.
In a recent TikTok video from hardtruthsceo, Nepola said point-blank, "A home is a terrible investment." In fact, he doesn't even consider a home to be an investment at all. For Nepola, "It's a luxury item you want to have," similar to his Rolls-Royce. Even though Nepola admits to owning a home, he says, "It's the stupidest investment you could make."
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes

#even #south #Florida

With a market cap of $14.1 billion, lululemon athletica inc. (LULU) is a leading technical athletic apparel, footwear, and accessories company that designs innovative products for yoga, running, training, and a wide range of active lifestyles. The company combines advanced fabric technology with functional design and community-driven product development to create high-performance offerings that promote wellbeing and meaningful customer engagement.
Shares of the athletic apparel maker have underperformed the broader market over the past 52 weeks. LULU stock has decreased 39.4% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 20.6%. Moreover, shares of the company are down 42.3% on a YTD basis, compared to SPX's nearly 13% gain.
Barron Trump, 20, Now Worth $150 Million — More Than Mom, Melania — From Crypto And $39 Energy Drink
Billionaire Michael Saylor Warns Against Buying a House Because 'Every 36 Years You Actually Pay the Cost of the House in Tax to the Government'
QQQ Just 'Gamma Flipped' as Market Makers Were Forced to Sell. Here's What Our Top Chart Expert is Tracking Next.

#market #lulu #apparel #moreover

Missing the 6-month Medigap enrollment window at 65 allows insurers to deny coverage or charge more based on pre-existing conditions like diabetes.
Only 4 states offer meaningful Medigap protections beyond the federal window: Connecticut, New York, Massachusetts, and Maine. Most beneficiaries are left subject to medical underwriting.
Before leaving Medicare Advantage, confirm remaining protected rights, compare multiple Medigap insurers, and secure approval before finalizing any switch to Original Medicare.
Many financial professionals are salespeople paid on what they push, not whether you end up wealthier. A fiduciary is the opposite. The SEC legally requires them to put your interests first. Advisor.com's free matching tool pairs you with vetted fiduciaries from major national firms, all in under three minutes. See who you match with today.
At 65, an Ohio woman picked a zero-premium Medicare Advantage plan because she was healthy and the sales brochure looked cheaper than adding a Medigap policy to Original Medicare. Two years later, her doctor diagnosed Type 2 diabetes, started her on insulin, and referred her to an endocrinologist outside the plan's network. Now 67, she wants to switch to Original Medicare with a Medigap Plan G so she can use a broader range of specialists.

#original

US apparel retailer Gap has agreed a partnership with Iconic Brands Nordic to grow its presence across the Nordic and Baltic markets.
The rollout is set to take place in three stages.
It will start with Gap launching on Boozt in Sweden, Denmark, Norway and Finland this month.
This will be followed by the opening of Gap sections within Stockmann department stores in Finland, Estonia and Latvia.
The third stage will see Gap open its first standalone store and e-commerce site in Estonia in September.

#nordic #finland #baltic #Sweden

Sandisk Corporation (NASDAQ:SNDK) and Western Digital Corporation (NASDAQ:WDC) are two of the strongest-performing stocks in today's AI era. The two companies' shares are up 455% and 159% year-to-date, respectively. Both of the firms' shares have responded to the aggressive demand for their storage products stemming from the multi-billion-dollar artificial intelligence infrastructure buildout. However, Western Digital Corporation (NASDAQ:WDC)'s shares closed 13% lower and Sandisk Corporation (NASDAQ:SNDK) dipped by 6.8% on August 6th, the day Cramer made the following remarks. As part of his comments, the CNBC TV host also discussed Melius Research's Ben Reitzes' comments about Sandisk Corporation (NASDAQ:SNDK):
'Western Digital, you know what they did not raise like I thought they would, Sandisk, they did not raise like I thought they would. You put them all up and they're all the same. These are all the same stocks to some degree. They're just momentum stocks, that people think, you know what, aren't so good.
"Yeah and I read his, and you know, Ben's been right about a lot of this stuff. And by the way, Ben came on to say this, everyone said that it had moved too much, and he just went right there and said, you should buy it, that was good. But this again, when I look over these, a lot of these guys have done LTAs, new business models. These are the things people talk about. And the LTAs are basically, look, we gave a contract to a manufacturer. And the first quarter's not going to be as good but we're no longer cyclical. I do like that. I do like that."
Cramer comments about Western Digital Corporation (NASDAQ:WDC) came after the firm reported its fiscal fourth quarter earnings report. It posted $3.75 billion in revenue and $3.56 in earnings per share to beat ******* yst estimates of $3.69 billion and $3.30. However, as Cramer remarked, Western Digital Corporation (NASDAQ:WDC) did not impress investors with its guidance, even though its Q1 midpoint revenue guide of $4.1 billion was a hairline higher than ******* yst estimates of $4.04 billion, while $4 in profit per share guide was also higher. As for Sandisk Corporation (NASDAQ:SNDK), the firm's revenue and profit of $8.97 billion and $39.25 per share beat ******* yst estimates of $8.39 billion and $34.45. It guided Q1 revenue to range between $10.30 billion and $10.80 billion and profit between $44 and $46 per share to also beat ******* yst estimates.
With the earnings out of the way, the debate for both of the firms is about their role in the AI buildout. While so far they have demonstrated robust performance, the bulls and the bears are torn between whether the recent growth is cyclical or structural in nature. The similarity in the narrative comes despite the fact that Western Digital Corporation (NASDAQ:WDC) is a player in the hard disk drive (HDD) market and Sandisk Corporation (NASDAQ:SNDK), a spinoff of WDC's flash business, operates in the NAND flash sector. Western Digital Corpo

IBD Composite Rating
Industry Group Ranking
Emerging Pattern

#rating #ranking #pattern

Boerse Stuttgart Digital, a major European institutional crypto and digital ****** et infrastructure partner, and institutional crypto trading firm Tradias have completed their merger after clearing the required ownership control procedure, creating a combined digital ****** et infrastructure business with around 300 employees.
The merger, announced in February, brings the companies' regulated crypto operations under the Boerse Stuttgart Group umbrella as the businesses seek to expand their presence among financial institutions across Europe. The combined unit will operate under the Boerse Stuttgart Digital name, while Tradias will remain the brand for trading services, according to a Wednesday announcement.
The newly formed business will offer a range of crypto and digital ****** et services, including trading, custody, staking and tokenization, covering what the companies describe as the full value chain. Its headquarters will be split between Frankfurt and Stuttgart, with additional offices in Athens, Beirut, Berlin, Dubai, Madrid, Milan and Ljubljana.
More From Cryptoprowl:
Ramp Network Brings Multichain Wallet and Rewards to EU

#Crypto #asset #brings #institutional

Japan and the US jolted the yen out of a historic slide. US and global stocks keep pressing toward records.
The US dollar versus the yen (JPY=X) fell from nearly 164 to as low as 155 after ***** an acted on Thursday and coordinated with the US on Friday. (Because the below chart tracks dollars per yen, a falling line means the yen is strengthening.)
It was the first joint currency intervention since 2011 and the first time the US has stepped in to strengthen the yen since 1998.
Japan kept interest rates near zero for decades while rates elsewhere moved much higher. That gap pushed money toward higher-yielding currencies and steadily weakened the yen.
Now ***** anese rates are rising and the currency is adjusting, leaving authorities to manage the transition without allowing it to become disorderly. The US 10-year Treasury (^TNX) still yields about 1.8 percentage points more than its ***** anese counterpart, but that gap has been cut roughly in half since early 2025.

#since #rates #Friday

Top 10 Creations (All ETFs)
Ticker
Name
Net Flows ($, mm)
AUM ($, mm)

#ticker #name #flows

Aug 02, 2026, 2:00 pm EDT
Equities rebounded from a midweek slump to finish in the green after volatile trading. All three major indexes rose between 1% and 1.6% last week, to end a mixed month of July. The Dow Jones Industrial Average eked out a 0.3% gain on the month, while the tech-heavy Nasdaq Composite slumped 3.2%, dragged down by semiconductor stocks’ 21% decline. Despite the brutal July selloff, the Philadelphia Stock Exchange Semiconductor Index is still up a whopping 60% this year.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Stocks rally after President Donald Trump says he will restart talks with Iran.

#NASDAQ #composite

Our ****** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Blackstone picked quite a week to sell Italian subs to the market, but maybe that's exactly the moment to take a breath, look around, and put some faith (and some capital) in the enduring magic of provolone and Danny DeVito.
Jersey Mike's priced its IPO at $23 a share Tuesday night, the same 24 hours the Nasdaq officially slid into correction and 3 Fed officials staged a mutiny against their own chair. Demand did not care. The deal went ten times oversubscribed, raised roughly $1 billion, and became the largest US consumer listing of the year, landing dead center of its $21-to-25 range.
That said, chatter around this deal earlier floated a valuation closer to $12 billion. It priced nearer $7.3 billion instead, a hair above the $8 billion Blackstone paid for majority control back in 2024. If you're tasting a little red wine vinegar in those numbers, you're on to something. Ten times oversubscribed, and the sandwich shop still landed below what its own private buyer thought it was worth 2 years ago. That's gotta make Steve Schwarzman feel a little stugatz about the whole deal.
JMKE shares are open to the public Thursday, but roughly 86% of the company's voting power stays exactly where it's lived since 2024: tucked inside the world's largest private equity shop.

#around #priced

Corn price action is down 2 to 3 cents so far on Tuesday. Futures took back much of the Monday weakness, with contracts closing 5 to 6 ¾ cents in the front months and steady to 2 cents higher in the deferreds. Open interest was down just 1,991 contracts on Tuesday. The CmdtyView national average Cash Corn price was up 6 3/4 cents at $4.28 1/4.
Monday's Crop Progress report showed condition ratings falling 4% at 63% in good to excellent condition, as the Brugler500 index were down 11 points to at 361. The only major state to see a ratings improvement was MO, with a NC and TN also higher. All of the other 15 reported states were lower, led by a 29 point drop in CO, with MI down 28 points, ND falling 21 point, SD dropping 20 and NE falling 18 points.
Tightness in the Near-Term Supply Outlook Boosts Coffee Prices
Sell Wheat Now as Prices Fall on Russia-Ukraine Rumors
Sugar Prices Fall as Crude Oil Plunges

#down #prices #falling

By Anirban Sen
NEW YORK, July 28 (Reuters) - Global hedge funds are on track for another blockbuster year, as they look to surpass their returns from 2025 after an artificial intelligence boom buoyed first-half performance for money managers across most investment strategies, according to a Goldman Sachs note sent to clients that ‌was seen by Reuters.
During the first six months of this year, hedge funds returned an average of 7%, well above the 10-year average of 4.1%, according ‌to the Goldman report. Those returns have been exceeded only twice, during the COVID years of 2020 and 2021, when market volatility boosted returns for fund managers. It marks the sixth consecutive half-year period in which hedge fund returns exceeded their long-term average.
"Hedge funds broadly have successfully pivoted through the AI complex in the last few years, adeptly shifting exposures through the 'picks and shovels' of the AI boom, moving from semis, to power & data centers, and in the last 12 months decisively towards memory stocks," Goldman wrote.
Demand from allocators, or investors who back hedge funds, has also surged during this year, amid a broadening flow of capital into the industry.

#half

The EMA GARP Fund, managed by Equity Management ******* ociates, recently released its second-quarter investor letter for 2026. The letter can be downloaded here. The letter emphasizes that capital expenditures in artificial intelligence (AI) are driving growth and earnings, despite extreme valuations in the U.S. market, which resemble a bubble-like situation. It also discusses the impact of passive ETF flows, fiscal deficits, and inflationary policies. For the quarter, the Fund's value decreased by 20.00%, and it is down 21.96% for the first half of the year, even though AI and related growth stocks were prominent during Q2. Additionally, the firm identified precious metals miners as a potentially strong investment, noting that they are significantly undervalued and present substantial asymmetrical opportunities. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, EMA GARP Fund highlighted Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM). Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) is a Canadian precious metal mining company that engages in the acquisition, exploration, and advancement of mineral properties. On July 24, 2026, Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) closed at $5.63 per share, reflecting a market capitalization of $986.77 million. Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) posted a one-month return of -10.21%, while its shares gained 69.07% over the past 52 weeks.
EMA GARP Fund stated the following regarding Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) in its Q2 2026 investor update:
"The miners are way, way too cheap at present gold and silver prices. And their earnings outlook is robust at higher bullion prices given the substantial operating leverage. Miner industry profitability is as good as it's been at any point in the last 25 years. Two Miner Case Studies are outlined – Aris and Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM). Crazy cheap and massive asymmetry.
Avino Silver and Gold is a mid-tier producer of mostly silver with some gold and copper credits. They operate two mines which share one mill in Mexico's Durango Province, a generally safe area free of cartel activity. In calendar 2025, they produced 2.6 million silver equivalent ounces at an average cost (AISC) of $23.75/ounce. With an average silver selling price of $44.70 per ounce during the year their average margin was $20.95/ounce. So, at the mine operating level they had contribution of $54 million. After SG&A, EBITDA for 2025 was $28.5 million. However silver prices today ($60/ounce) are substantially above last year's average price and in Q1 of 2026 they had EBITDA of $20 million. Bloomberg ******* yst's consensus for 2026 EBITDA is $80 million. So, the Company is trading at 12.5x EBITDA…." (Click here to read the full text)

#silver #Gold #fund #letter

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S&P Global's composite PMI climbed to 53.6 in July, its highest reading in eight months, signaling roughly 2% annualized GDP growth in Q3.
Rising input costs, supply chain disruptions, and the fastest selling-price increases in years give the Fed little reason to cut rates before 2027.
Companies with strong balance sheets, free cash flow, and pricing power are best positioned to outperform in a higher-for-longer rate environment.
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The biggest question facing investors today isn't whether the U.S. economy is slowing -- it's whether it's slowing enough for the Federal Reserve to finally begin cutting interest rates. New data suggests the answer may be no.

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