HAPPY THURSDAY TO THE qSTREET
Apple (AAPL) is coming home. On October 13, the tech giant is expected to unveil a long-rumored smart home hub that's part iPad, part HomePod, with a camera that knows who just walked into the room. Finally, a roughly $350 gadget that can tell exactly who's been raiding the fridge at midnight.
🟥 | US stocks fell as disappointing AI revenue signals and a spike in oil pressured tech, sending the Nasdaq sharply lower.
📈 | One Notable Gainer: Chipotle (CMG) popped on a report it drew acquisition interest from a coffee giant.
📉 | One Notable Decliner: Starbucks (SBUX) slid after reportedly exploring a deal for Chipotle.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
Market Movers
HAEMONETICS, BROADCOM, PALANTIR
📈 | Haemonetics (HAE) popped as CSL plans a full US rollout of its plasma platform by 2027.
📈 | GlobalFoundries (GFS) signed a $2B multiyear manufacturing deal with Taiwan Semiconductor (TSM).
📉 | Levi Strauss (LEVI) cut its full-year revenue growth forecast to the low end of its range.
📉 | Broadcom (AVGO) is arranging more than $50B in financing tied to custom AI chips for OpenAI.
Tomorrow's Trade Idea, Today
SHIP TO SHORE
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Dropping Anchor
Royal Caribbean wants guests to have a reason to get off the boat. The cruise giant agreed to take a 50% equity stake in Sandals for $3B, valuing the Caribbean resort chain at $6B.
The deal is expected to close early next year. Both companies expect it to boost growth.
Beyond the Buffet
Royal Caribbean has been pushing to become a leader in vacations overall, not just cruises. It already runs several private destinations for its passengers, but land-based offerings have been the piece it's still building out.
Sandals and its Beaches brand bring more than a dozen all-inclusive properties across the Caribbean. That's an instant foothold in a category the cruise line has been working to crack.
A Shore Thing?
The timing matters. Shares are in the red over the past year after the company trimmed its revenue growth forecasts on softer demand for European sailings.
Dry land is the diversification play. Worst case, disappointed cruisers now have a swim-up bar waiting at port.
Do you own any shares of Royal Caribbean (RCL)
OVERHEARD ON THE STREET
🛂 Microsoft (MSFT) and Adobe (ADBE) were suspended from a US green card labor program amid a foreign worker crackdown.
📱 Amazon (AMZN) scrapped its budget Fire tablets for a pricier Alexa lineup topping out at $550.
💰 Goldman Sachs executives are set to collect more than $500M in special bonuses.
🤖 OpenAI said its annualized revenue is $50B, not the widely reported $68B.
🚕 Waymo closed a $5B term loan, the Alphabet (GOOGL) unit's first debt financing.
WEDNESDAY'S POLL RESULTS
Do you own any shares of Meta Platforms (META)
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐂 Yup, I’m holding — “META is a money printing machine.”
🐻 Nope, not interested — “Until there is evidence Muse can generate revenue, I'm out.”
Disclaimers (if applicable)
