HAPPY TUESDAY TO THE STREET.
Nixon tried it in 1972. Stocks spiked, then cratered. The dollar soared, then collapsed. Bond yields shot higher. Tried what, you ask? Well…
🟩 | US stocks rose slightly today after President Trump officially fired Lisa Cook, although the Federal Reserve Governor announced plans to sue, which will likely send the matter to the Supreme Court.
📈 | One Notable Gainer: Predictably, that wasn’t Trump’s only headline-grabbing move today. He also called Cracker Barrel’s $CBRL ( ▲ 6.35% ) logo mishap a “great opportunity”, sending the stock higher.
📉 | One Notable Decliner: Another American staple, Jack Daniel’s-parent Brown-Forman $BF.B ( ▼ 3.83% ), slumped after its CFO announced she will retire next year.
Finally, read to the end for the biggest merger of 2025…
— Brooks & Cas
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.
STOCK HEATMAPS
S&P 500 Heatmap. Credit: Finviz
All Stock Heatmap. Credit: Finviz
Global ADR snapshot. Credit: Finviz
Market Movers
ECHOSTAR, AT&T, ELI LILLY
$SATS ( ▲ 70.25% ) / $T ( ▼ 0.63% ) EchoStar to sell wireless spectrum licenses to AT&T in $23 billion deal (Reuters)
$LLY ( ▲ 5.85% ) Eli Lilly’s weight-loss pill meets target in key diabetes trial (FT)
$PSKY ( ▼ 0.75% ) Paramount Prepares ‘Layoff List’ as Part of $2B Cost Savings After Skydance Merger (TipRanks)
$GOOS ( ▲ 3.22% ) / $VFC ( ▲ 6.22% ) / $RCKY ( ▲ 9.23% ) Canada Goose, VF Corp., Rocky Brands Surge as Baird Upgrades Stocks (YF)
$SMTC ( ▲ 15.14% ) Semtech Stock Surges After Chipmaker Clears Q2 Hurdles (IBD)
OVERHEARD ON THE STREET
CNBC: The Fed said it will follow a court ruling on Trump’s attempt to fire Governor Lisa Cook over mortgage fraud allegations.
The Verge: Apple $AAPL ( ▲ 0.95% ) will unveil the iPhone 17 on Sept. 9, and is expected to debut a new camera bar and AI-powered software updates.
AP: US shoppers will face new 10%–50% tariffs, or flat fees of $80–$200, on imports under $800 starting Friday as the de minimis exemption ends.
Reuters: Treasury Secretary Scott Bessent said US tariff revenues could exceed $500B annually, far above his earlier $300B estimate.
WSJ: Ferrero cut its offer for Kellogg’s $KLG ( ▲ 0.09% ) by $75M to $3.1B after HHS Secretary Robert F. Kennedy Jr. attacked artificial dyes in Froot Loops.
Tomorrow's Trade Idea, Today
THE JEAN-MAKER STOCK TO WATCH ISN’T WHAT YOU THINK
Good Stocks > Good Jeans
Actress Sydney Sweeney may have good jeans, but Bank of America $BAC ( ▲ 1.56% ) says that Levi Strauss $LEVI ( ▲ 2.52% ) shareholders have good stocks.
The investment bank downgraded American Eagle $AEO ( ▼ 2.56% ) yesterday, citing lack of pricing power amid a looming tariff squeeze. According to analyst Christopher Nardone, American Eagle’s earnings per share could see an 8% squeeze in the 2025 fiscal year, followed by a 30% hit in FY 2026, as pressure from tariffs builds.
While shares of American Eagle have risen since their famous ad with Sweeney, climbing around 17% in August so far, the short-term boost in sales may not last, according to Nardone.
Nardone is impressed by one denim company, however. After attending an investor meeting at Levi’s, he’s convinced of the company’s ability to manage any trade war disruptions, as well as of its many potential avenues for growth in product expansion.
272% Quarterly Earnings Growth
With Q2 earnings reports just about wrapped up, the average S&P 500 company has grown earnings by just under 12%. But Levi Strauss just pulled off an attention-grabbing 272% jump in year-over-year quarterly earnings.
The earnings beat comes as management raises full-year guidance, and now expects sales to rise between 1-2%. On the other hand, it reduced guidance for gross margins, and now expects gross margin growth of 0.8%.
American Eagle, by contrast, saw revenue shrink by 4.7% last quarter. The company missed earnings estimates after pulling its full-year guidance, citing “a challenging period for our business” amid macroeconomic uncertainty.
Analysts, Institutions Undecided on Levi
Of the 10 Wall Street analysts who follow Levi Strauss professionally, 4 have ramped up their earnings estimates for the company in the last 30 days, while 6 revised estimates downward.
As for institutions, 152 increased their positions in Levi Strauss in the last filing period, while 112 trimmed their holdings. Overall, institutions bought roughly 22.5 million shares, while selling roughly 18 million.
That’s a fairly even split, and likely reflects the uncertainty of these times. Risks and variables abound, and seemingly any stock — but especially retailers — can sell off from the latest twist and turn of the trade wars.
Which stock 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.
STREET TWEET
Evercore served as financial advisor to Swift and BofA served as buy side advisor to Kelce. Ares, Blue Owl, and Golub served as joint lead arrangers on the financing.
— #litquidity (#@litcapital)
7:24 PM • Aug 26, 2025
The biggest merger of 2025.
Forget M&A. This is T&K.
MONDAY’S POLL RESULTS
Which core investing philosophy do you prefer?
▇▇▇▇▇▇ Fair companies at wonderful prices
▇▇▇▇▇▇ Wonderful companies at fair prices
And, in response, you said:
🐂 Bullish — “Fair can become the better deal.”
🐻 Bearish — “It's been working for me!”
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