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ELON MUSK COMMENTS ON TELEGRAM DEAL, SAYS "NO DEAL" HAS BEEN SIGNED https://t.co/BIbAss3L1X
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$ELF Beauty is buying Hailey Bieber’s Rhode brand for $1 billion—$800M in cash and stock, plus $200M based on future performance. Rhode pulled in $212M revenue in year three and heads to Sephora later this year. Bieber will stay on as chief creative officer https://t.co/cyG4FEVXMP
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Capital Employed
Best Stock Pitches newsletter dropping tomorrow. Many great ideas in this issue.

Subscribe here to get it in your inbox 👇

https://t.co/JMLSGe7zj7
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The U.S. Court of International Trade just ruled Trump’s global “Liberation Day” tariffs invalid, saying the president doesn’t have the authority to impose sweeping tariffs under IEEPA. The Trump admin has already filed an appeal. https://t.co/fGOLCM5NoS
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HONGKONG FNINSEC PAUL CHAN: US FEDERAL COURT RULING AGAINST TRUMP TARIFFS WILL AT LEAST "BRING PRESIDENT TRUMP TO REASON"
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ELON MUSK: FIRST DELIVERY OF $TSLA SELF-DRIVING MODEL Y CARS IN JUNE https://t.co/0m1Zgrrf2S
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Today's Key Events (All EST) — 05/29/2025

08:30: US Initial Jobless Claims
08:30: US GDP QoQ 2nd Estimate
08:30: Fed's Barkin
110:40: Fed's Goolsbee
13:00: US 7-Year Auction
14:00: Fed's Kugler Speaks
16:00: Fed's Daly Speaks

Before Open 👇
04:00: $FUTU
04:35: $LI
05:25: Canadian Imperial Bank of Commerce $CM
06:00: Royal Bank of Canada $RY
06:00: BRP $DOOO
06:25: Bath & Body Works $BBWI
06:30: Hormel Foods $HRL
06:45: Foot Locker $FL
06:45: Burlington Stores $BURL
06:45: Caleres $CAL
06:45: Movado Group $MOV
07:00: Best Buy $BBY
07:00: Kohl's $KSS
07:00: Roivant Sciences $ROIV
07:00: SpartanNash $SPTN
07:00: Hamilton Lane $HLNE
07:05: Build-A-Bear Workshop $BBW

After Hours 👇
04:00: NetApp $NTAP
04:05: Marvell Technology $MRVL
04:05: Dell Technologies $DELL
04:05: Zscaler $ZS
04:05: Elastic $ESTC
04:05: ULTA Beauty $ULTA
04:05: American Eagle Outfitters $AEO
04:05: Ambarella $AMBA
04:05: PagerDuty $PD
04:05: Red Robin Gourmet Burgers $RRGB
04:10: UiPath $PATH
04:15: Costco $COST
04:15: CooperCompanies $COO
04:20: Gap $GAP
04:40: NGL Energy Partners $NGL
After Close: STARZ $STRZ
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UK SEEKS TO SPEED UP IMPLEMENTATION OF US TRADE DEAL - FT
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BOEING $BA expects to certify its 737 MAX 7 and MAX 10 jets by the end of 2025, CEO Kelly Ortberg told Aviation Week. The planes—facing years of delays—have over 1,500 combined orders. Boeing also aims to deliver its long-delayed 777-9 next year. https://t.co/KOIe21bKcz
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MODERNA $MRNA shared positive interim results from its Phase 1/2 study on its H5 avian flu vaccine, showing a strong 97.8% immune response after two doses. But despite the promising data, HHS has pulled late-stage funding, forcing Moderna to seek other options.
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TRUMP BLOCKS U.S. JET ENGINE TECH EXPORTS TO CHINA — NYT says Commerce Dept. suspended some licenses tied to Comac, hitting its reliance on $GE Aerospace for C919 engines.
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HSBC TRIMS U.S. TREASURY EXPOSURE — Stays underweight on developed market sovereign bonds. Warns 10Y yield breaking 4.7% could trigger broader selloff in risk assets. Keeps overweight on non-core eurozone debt.
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VINFAST $VFS IN TALKS FOR $200M LOAN FROM INDIAN BANKS AHEAD OF INDIA LAUNCH — Part of its $500M India investment, the loan could be in rupees or foreign currency. Plant opens June 30 in Tamil Nadu, with VF6 and VF7 bookings coming soon. Shift marks pivot away from U.S. and EU focus
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Deutsche Bank Upgrades $LUV to Buy from Hold, Raises PT to $40 from $28

Analyst comments: "Upgrading LUV from Hold to Buy… three key reasons. In conjunction with the release of our 2025 edition of our Value Creation Primer dated May 28, 2025, we are upgrading Southwest (LUV) from Hold to Buy based on three key reasons. The three drivers behind our Buy rating are as follows: 1) Southwest's refreshed board of directors (along with Elliott Management) has ushered in a new era of change at the company, which we think will drive higher shareholder returns; 2) current strategic initiatives should drive meaningful revenue and EBIT growth over the next 12–24 months; and 3) we think Southwest's return on invested capital (ROIC) will significantly improve over the next two years."

Analyst: Michael Linenberg
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