HAPPY SUNDAY TO THE STREET.
You may want to sit down for this one.
President Trump says higher tariffs on imported furniture are coming within 50 days. He argues the move will revive US manufacturing, especially in states like North Carolina and Michigan. But prices are already ticking higher — furniture and bedding costs rose nearly 1% in July alone.
If you’ve been putting off buying a new sofa, now might be the time to pull the trigger.
— Brooks & Cas
NEWMONT’S GOLDEN GLOW

Mining Momentum
Gold prices have soared to record highs this year, and Newmont Corporation $NEM ( ▲ 1.87% ) is riding that wave. As the world’s largest gold miner, the Denver-based company is seeing a surge in earnings and cash flow.
Gold now trades around $3,400 per ounce, up 28% in 2025. Newmont’s stock has rallied even harder, gaining nearly 85% year to date.
But analysts say the bull case goes beyond just strong commodity prices. Investor demand for gold exposure has grown amid geopolitical uncertainty, fiscal pressures, and shifting central bank policies. ETFs tracking the sector haven’t caught up yet. And that, according to Sprott’s Ryan McIntyre, could mean more upside for gold miners like Newmont.
Despite the rally, Newmont still trades well below its 2022 high. The company has spent the past few years focused on restructuring and acquisitions, and that effort may finally be poised to pay off.
Shifting Gears
After completing its $17 billion Newcrest Mining acquisition in 2023, Newmont pivoted to trimming down. Over the past year, it sold off eight projects and operations, raising $3.8 billion and slashing net debt from $6.4 billion to just $1.4 billion. The move has helped streamline its portfolio and improve margins.
In Q2, gold production dipped due to those divestitures, but costs fell as well. Rising ore grades at key mines, along with strong pricing, helped Newmont post $1.7 billion in free cash flow for the quarter, nearly triple last year’s figure. The board responded with a $3 billion buyback authorization and kept its dividend at a 1.5% yield.
The company’s leaner structure, combined with healthy cash generation, is fueling optimism that Newmont can thrive, even if gold prices cool off.
A Golden Discount
Newmont’s valuation remains compelling compared to peers, some analysts say. Canaccord Genuity’s Carey MacRury highlighted the stock’s price-to-NAV ratio of just 0.7, below its five-year average and sector standards. He has a Buy rating and an $86 price target, suggesting nearly 22% upside from Friday’s close.
The stock trades at just 13x earnings, cheaper than rivals like Agnico Eagle Mines $AEM ( ▲ 2.23% ), which trades closer to 18x. Some analysts see a path toward $90 by mid-2026 if momentum holds.
With a cleaner balance sheet, solid asset base, and leverage to gold prices, Newmont may be well-positioned to shine through the rest of this bull market.
Sponsored by Mode Mobile
Apple just secretly added Starlink satellite support to iPhones through iOS 18.3.
One of the biggest potential winners? Mode Mobile.
Mode’s EarnPhone already reaches 50M+ users that have earned over $325M, and that’s before global satellite coverage. With SpaceX eliminating "dead zones" worldwide, Mode's earning technology can now reach billions more in unbanked and rural populations worldwide.
Their global expansion is perfectly timed, and you still have a chance to invest in their pre-IPO offering at just $0.30/share. Final allocations are disappearing quickly.
Mode’s recent 32,481% revenue growth and their newly reserved Nasdaq ticker $MODE puts them one step closer to a potential IPO.
Disclosures: Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur. The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period. Please read the offering circular and related risks at invest.modemobile.com.
BABY BACK IS BACK

Sit-Down Chains Buck the Trend
Fast food may be feeling the pinch, but casual dining is cashing in.
While McDonald’s $MCD ( ▼ 0.16% ) and Wendy’s $WEN ( ▼ 2.38% ) complain of price-sensitive customers, Chili’s just posted a sizzling 24% jump in same-store sales. Shares of its parent, Brinker International $EAT ( ▲ 6.57% ), are up more than 300% in three years. Darden Restaurants $DRI ( ▲ 0.36% ), owner of Olive Garden, and Cheesecake Factory $CAKE ( ▲ 0.52% ) have also served up double-digit stock gains, handily beating their quick-service peers.
Analysts point to a widening value gap: prices at sit-down chains are up 34% since 2019, compared with 38% at limited-service spots. In other words, when your $11 Chili’s “3 for Me” meal includes a burger, bottomless chips, and a drink, even a Big Mac combo looks overpriced.
Marketing, Margaritas, and Margin
Chili’s CEO Kevin Hochman ditched the cut-to-survive playbook. Instead, he doubled marketing spend, refreshed restaurants, added staff hours, and even invested in better ingredients.
The pitch is simple: if you’re going to make customers tip, make the service worth tipping for. Campaigns that cheekily compare its value meals to McDonald’s combos have only fueled the narrative.
It’s not just Chili’s. Olive Garden claims it’s stealing wallet share from fast food, while Cheesecake Factory says people still want nights out that feel special. Even Applebee’s $DIN ( ▲ 2.18% ), long a laggard, just posted its first quarter of positive comps in two years.
What It Means for Investors
The casual-dining boom isn’t universal. Chains like Red Lobster, TGI Fridays, and Bloomin’ Brands $BLMN ( ▲ 0.28% ) have recently struggled, or even shuttered.
But for survivors, less competition means more room to grow. Deutsche Bank $DB ( ▼ 0.33% ) says Texas Roadhouse $TXRH ( ▼ 1.15% ) may be the next beneficiary. Its shares are down about 2% this year due to high beef costs, but DB analysts expect profits to rebound once prices ease.
With middle-class consumers still spending, remote work reshaping habits, and chains sharpening their takeout game, casual dining has momentum on its side. In today’s economy, a basket of mozzarella sticks and a margarita may be a better deal than a combo meal.
Which category do you think will outperform over the next 12 months?
Sponsored by Mode Mobile
Apple just secretly added Starlink satellite support to iPhones through iOS 18.3.
One of the biggest potential winners? Mode Mobile.
Mode’s EarnPhone already reaches 50M+ users that have earned over $325M, and that’s before global satellite coverage. With SpaceX eliminating "dead zones" worldwide, Mode's earning technology can now reach billions more in unbanked and rural populations worldwide.
Their global expansion is perfectly timed, and you still have a chance to invest in their pre-IPO offering at just $0.30/share. Final allocations are disappearing quickly.
Mode’s recent 32,481% revenue growth and their newly reserved Nasdaq ticker $MODE puts them one step closer to a potential IPO.
Disclosures: Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur. The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period. Please read the offering circular and related risks at invest.modemobile.com.
FIRSTCASH PAWNS ITS WAY TO EUROPE

Cashing In at the Top
FirstCash Holdings $FCFS ( ▼ 0.21% ) is trading near record highs after a 40% YTD rally, but analysts think there’s more in the till. TD Cowen just raised its price target to $172, implying about 19% upside from current levels.
The pawn operator has already built the largest network in the US and Mexico with 3,300 stores. Its latest purchase of H&T Group makes it the biggest pawnbroker in the UK as well, with management calling the deal “meaningfully accretive” to earnings.
For a business built on buying undervalued assets, this overseas expansion fits the script.
Lending On All Cylinders
The pawn business thrives when banks tighten lending standards. With high rates shutting out many borrowers, customers are turning to pawn loans for quick cash. They hand over jewelry, watches, or electronics, and FirstCash either collects steep interest when loans are repaid or resells collateral like gold and silver if they’re not. With precious metals near historic highs, that model is paying off.
Meanwhile, its American First Finance unit is proving to be the second engine of growth. AFF has expanded to more than 15,000 merchants, offering lease-to-own and buy now, pay later financing across industries like auto repair and medical procedures. The segment now generates more than 20% of pretax income, and management expects volumes to rise as much as 25% this year.
A Deal Too Good To Pass Up
Shares trade at just 17x forward earnings, well below the company’s 10-year average multiple of 23. According to Barron’s, FirstCash also shines in comparison to its competitors. Rival Ezcorp $EZPW ( ▲ 1.91% ) lacks scale, and fintech competitors like Affirm $AFRM ( ▲ 0.72% ) and Upstart $UPST ( ▼ 0.38% ) can’t match FirstCash’s collateral-backed model.
For investors, the stock still looks undervalued. After all, one person’s trash is another’s treasure — and FirstCash has built a solid business on making that trade.
LAST WEEK’S POLL RESULTS
Are you bullish or bearish on Monday.com $MNDY ( ▲ 0.3% ) over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐂 Bullish — “The upside outweighs the down. Period.”
🐻 Bearish — “Anytime a project manager is involved, 75% of the time, they forget who they work for.”
Are you bullish or bearish on municipal bonds over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐂 Bullish — “Could be the best place to go.”
Are you bullish or bearish on Starbucks $SBUX ( ▲ 0.96% ) over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐻 Bearish — “Too expensive and very average coffee!”