Eksentricity

Tech

AI & Search Evolution

• Perplexity AI Challenges Google Ads: Perplexity AI, backed by Jeff Bezos, is developing a “sponsored” question system to challenge Google’s auction-based ads model. Perplexity’s model allows brands to bid for a “sponsored” question featuring an AI-generated answer approved by the advertiser. This model is expected to cost marketers above $50 for every 1,000 impressions generated, compared to Google’s estimated $1,100 for the same number of impressions.
• OpenAI & Apple Partner on AI Hardware: OpenAI CEO Sam Altman is collaborating with Apple design legend Sir Jony Ive on a new AI hardware project, aiming to create a more intuitive and seamless user experience. The project, expected to raise $1 billion in funding by year-end, includes former Apple employees like Tang Tan and Evans Hankey who worked with Ive on the iPhone. The device is expected to leverage generative AI to handle complex requests, offering more than traditional software.

Semiconductor Expansion and Geopolitical Tensions

• TSMC and Samsung Eye UAE Chip Factories: Taiwan Semiconductor Manufacturing Co. (TSMC) and Samsung Electronics Co. are discussing the construction of massive chip-making complexes in the United Arab Emirates, valued at over $100 billion. The UAE would fund these projects, with Abu Dhabi-based sovereign development vehicle Mubadala playing a central role. Concerns about shipments of advanced AI chips to China, a trading partner of the UAE, need to be resolved before construction can begin.
• Nvidia Sees $1 Trillion Data Center Opportunity: Nvidia CEO Jensen Huang believes that Moore’s Law is over and existing data centers will shift to accelerated computing, even without AI as a tailwind. AI is expected to speed up this transition. Nvidia sees a $1 trillion opportunity in accelerated computing, with AI driving the shift and the construction of more data centers. The company is now in a “one-year rhythm” of introducing new GPU technology.

Cryptocurrency Market Volatility

• Bitcoin’s Surge Amidst Fed Rate Cut: Bitcoin extended last week’s gains and traded just shy of its month-long high on Monday, benefiting from the U.S. Federal Reserve’s rate hike decision. The Fed lowered its benchmark interest rate by 50 basis points, exceeding economists’ expectations. Crypto analysts view the move as a bullish catalyst for market activity. Bitcoin is up 2% on the day to $64,000, its highest point since August 26.
• Harris’ Crypto Mention Sparks Gains: Leading cryptocurrencies gained overnight after Democratic presidential nominee Kamala Harris mentioned cryptocurrencies for the first time during her election campaign. Bitcoin and Ethereum witnessed a substantial spike in trading volumes, with $131.21 million liquidated in the past 24 hours.

Cloud and Telecommunications Growth

• Nasdaq Expands Financial Tech Presence in Latin America: Nasdaq announced it has expanded its digital bank financial technology presence in Latin America by agreeing to provide its AxiomSL regulatory reporting solution to Nubank. The agreement extends Nasdaq’s existing partnership with Nubank, which includes providing the technology that underpins the bank’s treasury function.
• Nokia Deploys 5G in Vietnam: Nokia announced that it has signed a major new deal with Viettel Group to deploy 5G equipment for the first time nationwide in Vietnam. The project will cover 22 provinces across the country and support Viettel’s strategy of advancing 5G infrastructure and digital transformation.

Global Tech Trends

• TECNO Launches SPARK 30 Series: Innovative technology brand TECNO announced the debut of its latest smartphone, the SPARK 30 Series, featuring a dynamic lineup of five models. The new series brings revolutionary durability and playability with 5-year guaranteed lag-free performance, more immersive audiovisuals, an incredible main camera and much more.
• Amazon Enforces Return-to-Office Mandate: Amazon.com Inc. is enforcing a return-to-office five days a week mandate, clashing with the UK government’s push for flexible working rights.
• Apple Discontinues iPhone 15 Pro and Other Products: Apple Inc. has discontinued the iPhone 15 Pro, iPhone 15 Pro Max, and iPhone 13 models, along with other products, as part of its annual product streamlining.
• Shiba Inu Burn Rate Surges: Shiba Inu (SHIB) saw a significant jump in its burn rate in the last 24 hours, with about 15.08 million SHIB tokens being kicked out of circulation.
• Xiaomi Asks India’s Antitrust Body to Recall Report: China’s Xiaomi has asked India’s antitrust body to recall its report that found the company and Walmart’s Flipkart breached competition laws, arguing it contains commercial secrets.
• Chinese EV Maker BYD Plans First South Asian Plant in Pakistan: Chinese electric vehicle manufacturer BYD plans to establish its first South Asian assembly plant in Pakistan. The move follows a rejection from India.
• Xpeng Exports Cars to Qatar: Chinese electric vehicle (EV) builder Xpeng will begin exporting its cars to Qatar as it steps up a global expansion effort amid crushing competition in the mainland China market.
• General Motors to Lay Off Workers at Kansas City Plant: General Motors GM will lay off 1695 employees at its Fairfax Assembly and Stamping plant in Kansas City.
• GM Aims for All-Electric Light-Duty Vehicles by 2035: General Motors CEO Mary Barra reiterated the company’s aim to sell only electric light-duty vehicles by 2035 despite slowing demand for EVs.
• Signing Day Sports to Acquire Swifty Global: Signing Day Sports, Inc. announced plans to acquire Dear Cashmere Group Holding Company, doing business as Swifty Global, highlighting the strategic and financial synergies that are expected to drive accelerated growth and operational efficiency for both companies.
• Gaming Innovation Group Splits Into Two Companies: Gaming Innovation Group Inc. approved a split of the company, with the GIG Platform business spinning off to operate as an independent public company, GiG Software PLC.
• Radcom Shares Rally on Strong Demand: Radcom (RDCM) shares rallied 6.6% in the last trading session. This move can be attributed to notable volume with a higher number of shares being traded than in a typical session.
• Qiniu Eyes Hong Kong IPO: Chinese cloud service provider Qiniu, backed by Alibaba Group Holding, is making a third attempt at a Hong Kong initial public offering (IPO) after Midea Group’s successful debut lifted market sentiment.
• Bernstein Liebhard LLP Announces Class Action Lawsuit Against GitLab: Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors (the “Class”) who purchased or acquired the common stock of securities of GitLab Inc. (“GitLab” or the “Company”) GTLB between June 6, 2023 and March 4, 2024, inclusive (the “Class Period”).
• Apollo Considers Multi-Billion Dollar Investment in Intel: Apollo Global Management Inc. has reportedly been considering a multibillion-dollar investment in Intel Corp.
• SEC Approves Options on BlackRock Bitcoin ETF: The U.S. Securities and Exchange Commission has approved a rule change that allows Nasdaq’s International Securities Exchange to list and trade options on the iShares Bitcoin Trust (IBIT), BlackRock’s widely-traded exchange-traded fund.
• General Motors Workers Ratify New Contract: Unifor members at General Motors’ CAMI Assembly and Battery Assembly plants in Ingersoll, Ontario, have ratified a new collective agreement with the automaker.
• India’s Antitrust Body Steps Up Amazon and Flipkart Probe: The Competition Commission of India (CCI) has reportedly intensified its antitrust investigation into e-commerce giants Amazon and Walmart-backed Flipkart, requesting their financial statements.
• Nvidia and Alibaba Cloud Partner on Automotive AI: Alibaba Group Holding’s BABA cloud computing services unit tapped Nvidia Corp. NVDA to boost the autonomous driving experience for Chinese smart vehicle owners.
• Xunlei Appoints New Board Members: Xunlei Limited announced that the board of directors of the Company has appointed Mr. Hui Duan and Mr. Xiaosong Li as members of the board of directors of the Company, effective today.
• Truecaller Repurchases Shares: Truecaller AB (publ) repurchased 150,000 own B shares as part of its share buyback program. Since the start of the program in May, 3.17 million B-shares have been repurchased.
• Outbrain Repurchases Convertible Notes: Outbrain Inc. repurchased all of the remaining $118 million in aggregate principal amount of its 2.95% Convertible Senior Notes due 2026.
• Virtune Expands to Netherlands: Virtune AB (Publ), a Swedish regulated digital asset manager and issuer of crypto Exchange Traded Products (ETPs), announces its expansion into the Netherlands through the listing of its Virtune Staked Solana ETP on Euronext Amsterdam.

Finance

Asia Banking Expansion

• JPMorgan’s Regional Growth: JPMorgan Chase plans to expand its corporate banking team across Asia by 10% in 2025, driven by significant growth in regional trade fueled by economic expansion and geopolitical headwinds.
• Asian Corporate Focus: The bank is seeing increasing focus among Asian companies on building out a home-based, Asian business, leading to investments in broader subsidiary banking and country desks.
• Strategic Market Expansion: JPMorgan is particularly focused on expanding its presence in Korea, Japan, India, and China.

Lululemon Lawsuit

• Alleged Misconduct: A securities class action lawsuit has been filed against Lululemon athletica inc., alleging that the company made false and misleading statements about its business, operations, and prospects.
• Inventory and Sales Issues: The lawsuit claims that Lululemon struggled with inventory allocation issues and color palette execution issues, resulting in stagnating sales in the Americas region.
• Product Underperformance: The lawsuit also alleges that the company’s Breezethrough product launch underperformed.

India FPI Inflows

• Record Inflow: Foreign portfolio investors (FPIs) have injected close to Rs 33,700 crore (US$10.6 billion) into Indian equities this month, marking the second-highest monthly inflow in 2024.
• US Fed Rate Cut Impact: The surge in FPI investments is attributed to the 50 basis points rate cut by the US Federal Reserve on September 18, 2024, which is seen as a significant pivot towards a rate-cutting cycle.
• Emerging Market Appeal: The weakening US dollar and a dovish Fed stance make Indian equities more appealing to global investors, particularly in rate-sensitive sectors like financial services, healthcare, consumer durables, and real estate.

Global Bank Support for Nuclear Power

• Increased Support for Nuclear Power: The world’s largest banks have pledged to support the development of nuclear power, aiming to address the energy transition challenges.
• Investment Potential: Nuclear power is seen as a crucial component of the transition to a more sustainable energy system, particularly with the increasing demand for reliable and clean energy sources.

Pension Savings Amid Inflation

• Inflation’s Impact on Pension Savings: Inflation is a major challenge for pension savers, eroding the real value of savings.
• Interest Rate Risk: High inflation leads to central banks raising short-term interest rates, which impacts bond prices and stock returns in the short-term.
• Portfolio Strategies: Investing in a balanced portfolio, including global and UK equities, bonds, and alternatives, can help protect against inflation and achieve real-terms capital growth.

Healthcare

Drug Pricing

• Ozempic Pricing Controversy: Sen. Bernie Sanders criticized Novo Nordisk A/S for the high price of Ozempic in the United States, comparing it to significantly lower prices in other countries. Sanders attributed this to corporate greed, urging Novo Nordisk to lower the price. He pointed out that generic companies could sell it for under $100, while American patients pay nearly $1,000 per month.
• Generic Competition Blocked: Despite claiming they could sell Ozempic for under $100, Novo Nordisk is actively suing generic companies to prevent them from selling lower-cost versions of the drug. This move has raised concerns about market access and affordability for patients.

Cervical Cancer Prevention

• WHO Guideline Adoption: The World Health Organization included dual-stain cytology testing in its cervical cancer prevention guidelines, recognizing its potential to improve screening accuracy.
• Roche Dual-Stain Test: Roche’s CINtec PLUS Cytology test is the only FDA-approved and CE-marked dual-stain test for cervical cancer screening. The test identifies HPV-positive individuals at high risk of developing cervical precancer and cancer.
• Triage Test Approach: A positive dual-stain test indicates a higher risk, prompting clinicians to recommend immediate colposcopy. A negative result suggests a lower risk, allowing for later retesting.

Tardive Dyskinesia Treatment

• Long-Term Treatment Effectiveness: A new analysis of Teva Pharmaceutical’s deutetrabenazine treatment for Tardive Dyskinesia (TD) revealed sustained symptom improvement over three years in the RIM-TD open-label extension study.
• High Unmet Need in Europe: Tardive Dyskinesia is a debilitating movement disorder impacting patients receiving antipsychotics. Limited treatment options are approved in Europe, making effective treatments like deutetrabenazine crucial.
• Treatment Success: The study reported a 65% success rate based on the Clinical Global Impression of Change (CGIC) and a 56% success rate based on the Patient Global Impression of Change (PGIC), indicating positive outcomes for patients.

Gene Therapy Advancements

• Relief Therapeutics Milestone: Following FDA approval of Zevra Therapeutics Inc.’s arimoclomol for the treatment of Niemann-Pick Disease Type C, Relief Therapeutics will receive a $2 million milestone payment from SWK Funding LLC.
• Passage Bio Presentation: Passage Bio, a clinical stage genetic medicines company specializing in neurodegenerative diseases, will present at Chardan’s 8th Annual Genetic Medicines Conference on October 1, 2024.
• PBFT02: A Potential Treatment for Neurodegenerative Diseases: Passage Bio’s lead product candidate, PBFT02, aims to treat conditions like frontotemporal dementia by elevating progranulin levels, potentially slowing disease progression.

Surgical Robotics Advancements in India

• SS Innovations Milestone: SS Innovations International, Inc. announced the completion of over 2,000 robotic surgeries, primarily in India, using its SSi Mantra Surgical Robotic System.
• SSi Mantra System: The SSi Mantra is a multi-specialty surgical robotic system featuring a modular arm configuration, 3D 4K vision, and superior ergonomics. It has received Indian Medical Device regulatory approval (CDSCO) and is validated for over 80 types of surgical procedures.
• Global Expansion: SS Innovations is pursuing further regulatory approvals in the United States and European Union, seeking to expand the SSi Mantra’s reach to global markets.

Economy & Real estate

Hong Kong Real Estate Slowdown

• Hong Kong Office Market Slump: Hong Kong’s office leasing market is in a slump, with nearly 20% of floor spaces vacant and rents at 2015 levels. This is due to slow business recovery and increased new office space supply, with landlords adding 3 million square feet in 2025.
• Mainland Buyer Hesitation in Hong Kong: The recent interest rate cuts failed to revive Hong Kong’s secondary property market, with mainland buyers remaining cautious. Only seven deals were completed over the weekend, a new eight-week low.
• Increased Viewing Appointments in Hong Kong: Despite a decline in secondary market transactions, appointment bookings for viewing flats increased by 7.6% over the weekend, reaching a 21-week high.

Global Economic Outlook

• India’s Strong Economic Growth: Despite global headwinds, India’s economy is projected to grow by 7% in the current fiscal year, driven by controlled inflation, rural demand, and improving vehicle sales.
• India-EU Trade Agreement Negotiations: India and the European Union (EU) will resume free trade agreement talks, aiming to enhance bilateral trade and investments. Concerns regarding the EU’s sustainability measures, such as carbon tax and deforestation regulations, will be discussed.

Global Labor Market Trends

• Japan’s Four-Day Workweek Challenge: Japan is pushing for companies to adopt a four-day workweek, but the initiative faces challenges due to the country’s workaholic culture and social pressure. Only 8% of companies allow employees to take three or more days off per week.
• China’s Youth Unemployment Crisis: China’s youth unemployment rate reached a record high of 18.8% in August, driven by a slowing economy and restrictive hiring policies. Companies are reluctant to hire new graduates due to high firing costs.

Real Estate Investment Management Innovations

• Altus Group Launches ARGUS Intelligence: Altus Group launched ARGUS Intelligence, a next-generation software for commercial real estate investment management designed to provide instant performance insights and drive portfolio performance.

ESG in Real Estate

• Measurabl & FTSE Russell Partnership for ESG Data: Measurabl partnered with FTSE Russell to enhance the quality and availability of ESG data for real estate investments. FTSE Russell’s green indexes will now be powered by Measurabl’s Quantum platform, which provides asset-level ESG data.

Doom Spending and Consumer Behavior

• Young People’s Luxury Spending Trend: Young people are engaging in “doom spending,” buying luxuries like travel and designer clothes instead of saving due to economic pessimism and a sense of helplessness.
• Financial Literacy and Doom Spending: Doom spending can be exacerbated by a lack of financial literacy and insecure financial attachments formed during childhood.
• Combating Doom Spending: Strategies to combat doom spending include making transactions more visceral and difficult, using cash instead of digital payments, and focusing on financial literacy.

Retail

Stock Splits

• Costco Stock Split: Costco Wholesale (COST) is anticipated to announce a stock split this week when it unveils its fiscal fourth-quarter operating results on September 26. The company’s stock is currently priced at over $892 per share, making it costly for retail investors and employees participating in the company’s employee stock purchase plan. The last split occurred in January 2000, making a split long overdue. Costco’s valuation is historically rich, trading at a multiple of 50 times forward-year earnings per share, which is uncommon for a retailer. A stock split could potentially enhance the company’s visibility and appeal to investors.
• AI Stock Splits: Three of Wall Street’s most prominent splits this year have been associated with the artificial intelligence (AI) trend: Nvidia (NVDA), Broadcom (AVGO), and Super Micro Computer (SMCI). These companies have benefited from the growing demand for AI-related technologies, and their stock splits have contributed to further increases in their share prices.

Apparel and Shoes

• Urban Outfitters Undervalued: Urban Outfitters Inc. (URBN) is currently trading at a low price-to-earnings (P/E) multiple, below the Zacks Retail-Apparel and Shoes industry and broader Retail-Wholesale averages. The stock’s Value Score of A underscores its potential as a promising investment. Despite challenges with its flagship brand, analysts maintain optimism about URBN’s future, with positive revisions in earnings estimates.

Grocery Retail

• Natural Food Industry Trends: The Zacks Natural Foods Products industry is experiencing growth driven by increasing consumer health awareness and demand for natural and organic products. Companies are expanding product lines and market reach through acquisitions and investments in digital capabilities. However, they are also facing challenges due to rising operating costs.
• Sprouts Farmers Market Expansion: Sprouts Farmers Market, Inc. (SFM) is a leading grocery retailer capitalizing on the growth in the natural and organic market. The company has a strong focus on product innovation, e-commerce, and private-label offerings. It is also expanding its store footprint and enhancing its customer experience through digital initiatives.

Other Retail

• Foot Locker’s Turnaround: Foot Locker (FL) is attempting to regain its market-leading position in sneakers, but it faces challenges from competitors like Dick’s Sporting Goods (DKS) and JD Sports (JD). The company is trying to differentiate itself by focusing on brands beyond Nike, revamping its store fleet, and enhancing its online presence.
• Pickleball Kingdom Expansion: Pickleball Kingdom, the world’s largest indoor pickleball entity, is expanding into Lynnwood, Washington. The facility will feature 12 indoor courts, professional coaching, youth programs, leagues and tournaments, and community events.
• NYX Halloween Campaign: NYX Professional Makeup is launching its “Who Stole Halloween?” campaign, a collaboration with Warner Bros. Discovery Global Consumer Products inspired by iconic villains. The campaign features a cast of reality TV personalities and includes exclusive makeup looks and new SFX products.
• WahooGifts Launches UK Store: WahooGifts, a UK-based e-commerce store, has launched a new Shopify platform specializing in personalized gifts for various occasions. The store offers a range of baby gifts, personalized items, and engraved gifts.
• Real American Beer Enters Alabama: Real American Beer, co-founded by Hulk Hogan, is expanding its distribution to Alabama. The premium low-carb light lager is made with 100% North American ingredients and is gaining popularity nationwide.

Franchise Opportunities

• Pickleball Kingdom Franchise: Pickleball Kingdom is offering franchise opportunities to motivated individuals interested in joining the growing pickleball movement. The company offers a strong business model and comprehensive support to franchise owners.

International Retail

• Mondelez China Acquisition: Mondelez International, Inc. (MDLZ) is acquiring a majority stake in Evirth, a leading manufacturer of frozen-to-chilled cakes and pastries in China. This acquisition aligns with Mondelez’s strategy to expand its presence in the growing cakes and pastries market.
• Marks and Spencer at Deutsche Bank Conference: Marks and Spencer PLC (MKS) will present at the dbVIC – Deutsche Bank American Depositary Receipt (ADR) Virtual Investor Conference on September 24.
• Aura Retail Alliance: Intermarché, Auchan, and Casino have formed the Aura Retail alliance, a long-term purchasing partnership encompassing five operational structures. This alliance aims to strengthen their bargaining power with manufacturers and offer development opportunities.
• Tesco’s Momentum: Tesco PLC (TSCDY) is a UK-based supermarket chain that has been showing strong momentum in its stock price. The company is benefiting from positive earnings estimate revisions and strong price performance.
• Premium Products International Sourcing Shift: Premium Products International (PPI) is shifting its sourcing strategy from Asia to Brazil due to rising ocean freight rates and logistical challenges. The company believes that Brazil offers a more reliable and cost-effective supply chain for US-based companies.

Infrastructure

Autonomous Trucking & Trailer Services

• Wabash & Kodiak Robotics Partnership: Wabash WNC, a leader in connected solutions for transportation, has partnered with Kodiak Robotics, a leading autonomous trucking company. This partnership will see Kodiak utilize Wabash’s Trailers as a Service (TaaS) offering, giving them access to a nationwide fleet of trailers with comprehensive maintenance and uptime management. This collaboration aims to boost operational reliability and road safety by ensuring well-maintained trailers.

Railroad Industry

• Fuel Cost Impact: The decline in oil prices is a tailwind for the railroad industry, as fuel expenses are a significant cost for these companies. This cost reduction is expected to benefit the bottom line of railroad stocks.
• Economic Uncertainty & Rail Stocks: While inflation is showing signs of easing, it remains above the Federal Reserve’s target, leading to economic uncertainty. This uncertainty could negatively impact railroad stocks in the coming months.
• Industry Performance: The Zacks Transportation – Rail industry has outperformed the broader Transportation sector over the past year but lagged the S&P 500. The industry is currently trading at a higher price-to-book ratio than the sector.

Grouting Materials Market

• Market Growth: The global grouting materials market is projected to grow at a CAGR of 5.3% from 2023 to 2031, reaching US$ 11.9 billion in sales revenue by 2031. This growth is driven by increasing investments in infrastructure projects, particularly in construction, transportation, and energy sectors.
• Regional Market Dynamics: The grouting materials market is led by Europe, followed by North America and Asia Pacific. Each region has its own unique drivers, such as robust infrastructure projects in North America, extensive construction activities in Europe, and rapid urbanization in Asia Pacific.
• Key Players: Major players in the grouting materials market include BASF SE, Sika AG, and Fosroc International Ltd., who compete on product development, sustainability initiatives, and geographic expansion.

Energy & AI: North America

• Growing Energy Demand: The global demand for energy is skyrocketing due to economic development, population growth, and advancements in artificial intelligence (AI), creating a need for balanced and reliable energy solutions.
• Capital Power’s Balanced Approach: Capital Power, a North American power producer, is committed to providing reliable, affordable, and sustainable energy solutions to support global growth and the AI revolution. Their approach involves harnessing renewables, exploring nuclear energy, and using reliable, dispatchable power sources like natural gas to create a balanced energy mix.
• Investment in Clean Energy: Capital Power’s repowering of the Genesee Generating Station in Canada from coal to natural gas demonstrates their commitment to clean energy innovation and building a resilient grid to support the integration of growing renewable energy sources.

Lead Pipe Remediation: USA

• Market Opportunity: Crown Electrokinetics, a leading smart glass technology company, has secured two contracts valued at $33 million for lead pipe remediation. This highlights the enormous market opportunity for lead pipe remediation in the United States.
• Crown’s Expansion: Crown’s PE Pipelines division is focused on providing pipe repair, replacement, and lead pipe remediation services, showcasing the company’s commitment to improving water infrastructure.
• Health Concerns: Lead pipes pose a significant health risk to millions of American households, driving the need for lead pipe remediation projects.

Water Infrastructure: UK

• AECOM & Wessex Water Partnership: AECOM has been re-appointed as a Design Consultant for Wessex Water’s Capital Delivery Framework. This partnership will see AECOM lead Wessex Water’s next phase of capital improvements, focusing on sustainable water projects.
• AMP8 Investment: This partnership aligns with Wessex Water’s planned £3.7-billion investment in infrastructure between 2025 and 2030.
• Growing Demand for Water Services: The UK water market is expected to see accelerated growth in the next five years due to the expected doubling of AMP8 funding. This trend benefits AECOM, who has experience with nearly every major water utility involved in the AMP8 program.

Naval Gun System Integration: UK

• BAE Systems’ Mk 45 Installation: BAE Systems has begun integrating the Mk 45 naval gun system onto HMS Glasgow, the first of eight Type 26 frigates for the UK Royal Navy. This is a major milestone for the program, with installations planned for all ships in the class.
• Mk 45 Capabilities: The Mk 45 gun system, combined with the Ammunition Handling System (AHS), provides increased sailor safety, reduced crew requirements, and reliable reloading performance for the Type 26 frigates.
• Global Reach: The Mk 45 system has also been selected by the Australian Navy for their Hunter Class frigates, highlighting the system’s global appeal and potential for future contracts.

Transportation Consulting: North America

• TYLin’s New North America Transportation Leader: TYLin, a globally recognized infrastructure consulting firm, has appointed Kimberly Slaughter as their North America Transportation Leader. Slaughter will lead strategic initiatives to drive growth within TYLin’s transportation sector.
• Focus on Growth & Collaboration: This appointment highlights TYLin’s commitment to enhancing client delivery, attracting top talent, and driving collaboration across their transportation services.
• Community Focus: Slaughter’s experience in public transit advocacy and commitment to transportation equity and community development will be valuable as TYLin focuses on creating accessible, safe, and sustainable transportation solutions.

Railroad Safety: USA

• CSX & Operation Lifesaver Partnership: CSX Corp. is partnering with Operation Lifesaver, Inc. (OLI) to observe See Tracks? Think Train!® Week to educate the public on rail safety and raise awareness about the need for rail safety education.
• Importance of Rail Safety: Rail safety education is crucial to preventing crossing collisions and trespass incidents. This partnership emphasizes CSX’s commitment to safety and reducing the number of rail-related incidents.
• Education and Enforcement: CSX’s Incident Reduction Team will actively engage in education and enforcement activities across their network to promote safe behavior around trains and tracks.

Undercarriage Sensor Technology

• ITM Group at MINExpo 2024: ITM Group, a leader in undercarriage sensor technology, will be showcasing its latest advancements at MINExpo 2024. They will be unveiling TRUST ITM®, an innovative tracking system for monitoring undercarriages in mining operations.
• TRUST ITM® Capabilities: TRUST ITM® uses wireless sensors and IoT technology to provide real-time data on key parameters, enabling optimal undercarriage management, reducing downtime, and enhancing safety in the field.
• Turnkey Solutions: ITM also offers turnkey solutions that combine design expertise with specialized manufacturing to meet specific customer requirements.

Commodities

Debt and Refinancing

• Vast Resources Debt Restructuring Delay: Vast Resources plc, an AIM-listed mining company, has delayed its debt repayment and refinancing process. The deadline has been pushed from June 27, 2024, to September 26, 2024, due to challenges in securing the anticipated restructuring finance. Despite the delay, the company remains confident in securing restructuring finance and has initiated alternative measures to settle its outstanding debts and secure additional short-term working capital. The company received confirmation from a shareholder that they will not take any action should the primary creditor, Alpha, commence enforcement procedures on September 26, 2024.
• Vast Resources Q4 Update: The company expects to finalize the restructuring arrangements during Q4 2024 and will provide further updates if there are any changes.

Lithium Exploration

• Yellowknife Lithium Project Sampling: Li-FT Power Ltd. (LIFT) has announced results from its metallurgical sampling program, completed in 2023 and 2024, across eight spodumene deposits within the Yellowknife Lithium Project in Northwest Territories, Canada. Testing included heavy liquid separation (HLS), dense media separation (DMS), and batch flotation testing, conducted by SGS Canada Inc. Sample grades ranged from 0.86% to 1.46% Li2O and from 0.24% to 0.48% Fe2O3.
• Yellowknife Lithium Project Results: The pilot-scale DMS and flotation testing produced combined concentrates ranging in grade from 5.75% to 6.17% Li2O, with lithium recoveries ranging from 81% to 87%. LIFT intends to expand the operation for large-scale manufacturing of low-enriched uranium and high-assay low-enriched uranium for existing and advanced reactors.

Liquor Company Share Buyback (China)

• Kweichow Moutai Share Repurchase: Chinese liquor giant Kweichow Moutai has announced its first-ever stock repurchase program to support its share price amidst sluggish consumer spending in China. The company plans to spend between 3 billion yuan (US$425.4 million) and 6 billion yuan buying back its shares over the next 12 months following shareholder approval.
• Kweichow Moutai Economic Challenges: China’s slowing economy has impacted Kweichow Moutai and other consumer product companies, leading to a decline in the price of its flagship liquor, Flying Fairy. Analysts believe the share buyback plan is a positive step to protect the interests of both the company and shareholders.

Silver Exploration and Acquisition (Mexico)

• Cinco de Mayo Project Option Agreement: Apollo Silver Corp. (APGO) has entered into an exploration, earn-in, and option agreement with MAG Silver Corp. (MAG) to acquire the Cinco de Mayo Project in Chihuahua State, Mexico. The project covers 29 concessions totaling approximately 25,000 hectares and hosts carbonate replacement type deposits (CRD), including the Upper Manto Pb-Zn-Ag (Au) deposit and the Pozo Seco Molybdenum-Gold (Mo-Au) deposit.
• Cinco de Mayo Project Historical Mineral Resource: A historical inferred mineral resource was estimated at 12.45 million tonnes of 132 g/t silver (Ag), 2.86% lead (Pb), and 6.47% zinc (Zn), 0.24 g/t gold (Au). Following the acquisition, Apollo Silver plans to review historical data, conduct additional exploration work, and seek to regain access to the project.

Sustainable Aviation Fuel Agreement

• TotalEnergies SAF Supply Deal: TotalEnergies SE (TTE) has signed a 10-year agreement to supply Air France-KLM with up to 1.5 million tons of sustainable aviation fuel (SAF) through 2035. This agreement expands on a previous memorandum of understanding (MoU) for the supply of 800,000 tons of SAF, reflecting both companies’ commitment to reducing aviation’s carbon footprint.
• TotalEnergies SAF Production: TotalEnergies has invested heavily in converting its refineries into biorefineries, with plans to produce SAF by 2025. This agreement is one of Air France-KLM’s largest SAF agreements, representing a significant step towards decarbonizing the aviation sector.

Politics

US Election 2024

• Harris’s Crypto Stance: Vice President Kamala Harris’s stance on cryptocurrency has become clearer, with her recent public acknowledgment of the industry’s importance and potential for innovation, signaling a possible shift in the Democratic approach toward crypto. Harris has promised to protect the interests of the cryptocurrency sector while also encouraging the development of technologies like artificial intelligence and digital assets.
• Trump’s Crypto Ventures: Former President Donald Trump has actively courted the cryptocurrency industry, criticizing current regulations and pledging to reform the Securities and Exchange Commission (SEC). Trump has launched his own cryptocurrency project, World Liberty Financial, and even used Bitcoin to pay for a meal, demonstrating his growing acceptance of the technology.
• Trump’s Second Assassination Attempt: Ryan Routh was arrested for allegedly stalking former President Trump and attempting to assassinate him. This incident highlights the heightened security concerns surrounding Trump’s campaign and the potential risks faced by politicians.
• Harris’s Economic Plans: Vice President Kamala Harris is expected to announce new economic policies aimed at wealth creation, focusing on affordability and economic opportunities. These proposals come as undecided voters seek more clarity on her economic plans ahead of the November election.

US Government Funding

• Government Shutdown Looms: House GOP leaders have proposed a three-month continuing resolution to keep the government funded until December 20. However, the bill faces obstacles due to opposition from both Democrats and Republicans, raising concerns about a potential government shutdown before the election.

International Affairs

• Ukraine’s Victory Plan: Ukraine’s President Volodymyr Zelenskyy is traveling to the United States to present a “victory plan” to end the war with Russia, aiming to influence U.S. policy on the war, regardless of the election outcome.
• China’s Export Controls: China is implementing stricter export controls on items with dual military and civilian applications, aiming to safeguard national security and potentially accelerating the global fragmentation of technology and supply chains.

Social Security

• 2025 Cost-of-Living Adjustment (COLA): The Social Security Administration will announce the 2025 cost-of-living adjustment (COLA) on Oct. 10. The first checks with the 2025 COLA will go out on the second, third, and fourth Wednesdays in January, depending on the beneficiary’s birthdate.

North Dakota Politics

• North Dakota Cannabis Legalization: Catholic bishops in North Dakota are urging voters to reject cannabis legalization, citing public health risks. However, advocates for legalization argue that it will boost tax revenue, create jobs, and promote social justice.
• Koch Network’s Support for Robinson: The political network funded by Charles Koch has been quietly backing North Carolina Lt. Gov. Mark Robinson, despite controversies surrounding his comments. This move has surprised some Republican strategists, given Robinson’s polarizing nature.

Stock Picks

Transportation

Airline Value Comparisons

• ICAGY vs. RYAAY Valuation: International Consolidated Airlines Group SA (ICAGY) is a Zacks Rank #1 (Strong Buy) with a Value grade of A, while Ryanair (RYAAY) is a Zacks Rank #5 (Strong Sell) with a Value grade of C. ICAGY has a forward P/E ratio of 5.42 compared to RYAAY’s 15.48, a PEG ratio of 0.87 compared to RYAAY’s 2.65, and a P/B ratio of 1.04 compared to RYAAY’s 3.05. ICAGY appears to be a more attractive value stock based on these metrics.

Real Estate

Operations Value Comparisons

• KW vs. WSC Valuation: Kennedy-Wilson (KW) is a Zacks Rank #2 (Buy) with a Value grade of B, while WillScot (WSC) is a Zacks Rank #3 (Hold) with a Value grade of C. KW has a forward P/E ratio of 3.68 compared to WSC’s 22.61, a PEG ratio of 0.64 compared to WSC’s 1.37, and a P/B ratio of 1.63 compared to WSC’s 6.24. These metrics suggest KW is the stronger value stock.

Internet

E-Commerce Value Comparisons

• JD vs. MELI Valuation: JD.com, Inc. (JD) is a Zacks Rank #1 (Strong Buy) with a Value grade of A, while MercadoLibre (MELI) is a Zacks Rank #3 (Hold) with a Value grade of C. JD has a forward P/E ratio of 7.19 compared to MELI’s 59.81, a PEG ratio of 0.41 compared to MELI’s 1.37, and a P/B ratio of 1.14 compared to MELI’s 29.17. JD.com appears to be the better value stock.

Utility

Electric Power Value Comparisons

• DTE vs. NEE Valuation: DTE Energy (DTE) is a Zacks Rank #2 (Buy) with a Value grade of B, while NextEra Energy (NEE) is a Zacks Rank #3 (Hold) with a Value grade of D. DTE has a forward P/E ratio of 18.68 compared to NEE’s 24.38, a PEG ratio of 2.30 compared to NEE’s 3.00, and a P/B ratio of 2.33 compared to NEE’s 2.86. Based on these metrics, DTE Energy is the more attractive value pick.

Diversified Operations

Value Stock Comparisons

• MARUY vs. HON Valuation: Marubeni Corp. (MARUY) is a Zacks Rank #2 (Buy) with a Value grade of A, while Honeywell International Inc. (HON) is a Zacks Rank #3 (Hold) with a Value grade of D. MARUY has a forward P/E ratio of 7.69 compared to HON’s 20.06, a PEG ratio of 1.15 compared to HON’s 2.31, and a P/B ratio of 1.10 compared to HON’s 7.54. Marubeni Corp. is the better value option.

Automotive

Original Equipment Value Comparisons

• VLEEY vs. MBLY Valuation: Valeo S.A. (VLEEY) is a Zacks Rank #2 (Buy) with a Value grade of A, while Mobileye Global (MBLY) is a Zacks Rank #4 (Sell) with a Value grade of D. VLEEY has a forward P/E ratio of 8.23 compared to MBLY’s 55.20, a PEG ratio of 0.17 compared to MBLY’s 8.07, and a P/B ratio of 0.54 compared to MBLY’s 0.68. VLEEY appears to be the stronger value stock.