Starbucks jumps as Treasury Secretary Scott Bessent says tariff relief on coffee is imminent

While a shortage of Starbucks “Bearista” cups is a unique headache for upper-income consumers, high coffee prices are a problem for pretty much everyone who wants to function somewhat productively.

On that note, shares of Starbucks popped this morning after these headlines from a Fox News interview with Treasury Secretary Scott Bessent hit the wires:

*BESSENT: WILL SEE SUBSTANTIAL TARIFF NEWS NEXT COUPLE DAYS

*BESSENT: GOING TO UNVEIL TARIFF RELIEF ON COFFEE, OTHER ITEMS

Dutch Bros also enjoyed a nice bump, while Keurig Dr Pepper and JM Smucker saw more muted gains on this news.

On Starbucks’ October 29 conference call, CFO Cathy Smith flagged that the company’s operating margin fell 500 basis points from the same quarter a year ago “primarily driven by inflation, led by coffee prices and tariffs.”

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Max Knoblauch41m

Sony hits highest point in decades on PS5 sales improvement, cheaper Japan console

US-listed ADRs of Sony reached their highest point since the early 2000s on Wednesday as investors continued to digest the tech giant’s second-quarter earnings results.

On Tuesday, Sony reported that it had sold 3.9 million PlayStation 5s in the quarter ended September 30 — a period that included a $50 US price hike. That sales figure moves the 5-year-old console’s lifetime sales number (now 84.2 million) ahead of Microsoft’s Xbox 360 and just shy of the PS3. The PS5 is still narrowly behind the sales pace of the PS4.

During a State of Play showcase on Tuesday evening, Sony announced it would begin selling a Japanese-language-only version of the console for about 25% cheaper than the standard version. The move mirrors Nintendo’s Switch 2 pricing strategy from earlier this year, when it priced the new handheld console about 35% cheaper in Japan than in the US.

Luke Kawa1h

DraftKings insiders stepped up to buy over $1 million in company stock after two-month rout

Two directors at DraftKings bought over $1 million in company stock on Tuesday, a vote of confidence that better times are coming for the online sports betting company after shares plunged 36% during September and October as competition from prediction markets weighed on existing players.

SEC filings showed Vice Chairman Harry Sloan bought $757,500 in company stock in a series of transactions, while board member Gregory Westin Wendt purchased $302,700.

DraftKings recovered from a big knee-jerk drop after reporting earnings last week as investors warmed to its plans to get its own prediction markets business up and running “in the coming months.”

Tom Jones6h

On Running jumps after raising outlook for revenue and gross margins

Shares of On Holding are sprinting ahead this morning, up about 9% as of 6 a.m. ET, as the Swiss running shoe company today raised its full-year guidance after reporting record net sales and profitability for the third quarter.

On revenues came in at 794.4 million Swiss francs (CHF), or ~$994 million, for the quarter, where analysts had expected $960 million, while adjusted earnings per share came in CHF 0.43, or $0.54, compared to Wall Street’s $0.34 consensus estimate, per Bloomberg. The company now expects annual sales to grow 34% from 2025, up from the previous 31% estimate, with On’s forecast for its gross profit margins now set at 62.5%, up from 60.5% to 61%.

On said that “remarkable athlete achievements, cultural moments elevating On globally, and the launch of its inspiring holiday campaign” have all helped fuel its “exceptionally high” momentum in recent weeks. Though buzz around the brand might still be building and its sales continue to race ahead of rivals’, shares are still down more than 30% year to date, even with today’s bump.

Hoka and On annual sales chart — Sherwood News

Nuke startup Oklo reports progress on major projects, overshadowing bigger than expected Q3 loss

The retail trader favorite was up more than 400% in 2025 before reporting its latest earnings.

Matt Phillips19h

Tasha Matsumoto

20h

Despite a tech tumble, stocks rise on hopes that the government shutdown will end soon

Every sector was higher except for tech, which dragged down the Nasdaq 100.

DEL MAR, CA - SEPTEMBER 18: A woman competes in the steer riding event at the gay-oriented 16th Annual San Diego Rodeo, on September 18, 2004 in Del Mar, California.

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