Hey Snackers,
The invisible hand’s using a five-finger discount… Shoplifting has grown more common in the US according to a new survey from loan comparison site LendingTree, as the share of Americans who say they’ve shoplifted rises to nearly a third — up from just 23% who said the same in 2024.
The increase was particularly pronounced among the youngest generations, while some 90% of respondents who said they’ve shoplifted blamed inflation and the current economy.
Markets were relatively flat, continuing the relatively muted week, extending a relatively boring month. We here at Snacks hope everyone on Wall Street is enjoying their vacation!
The battle between Boeing and Airbus is heating up at the annual Farnborough Air Show
As we head into the penultimate day of the Farnborough Air Show — a biennial event where aerospace and defense industry titans, innovators, and people who just like planes travel from across the globe to marvel at new technological developments and, more importantly, sign huge deals — it won’t just be the show organizers who hope they can stick the landing.
This year’s attendance is expected to outstrip the record 100,000-strong turnout from 2024, but few among the throng will have as much riding on the event as execs from Boeing and Airbus, the world’s leading airplane manufacturers, which rely on Farnborough to boost their order book each year:
According to Reuters, US manufacturer Boeing announced 2,057 aircraft orders at the British expo from 2010 to 2024, while its European rival Airbus secured 1,984 across the same time frame.
On the first day of this year’s show alone, the companies secured a combined total of 234 aircraft orders worth some $48.8 billion, per figures from UK industry trade group ADS.
Still, as anyone in the industry will tell you (at least when they get back from Farnborough), there’s a big difference between securing hundreds of aircraft orders and managing to actually make those deliveries.
Despite both manufacturers continuing to rack up orders of late, a combination of geopolitical instability, trade restrictions, increased demand, constrained supply of key materials, and numerous other factors has made fulfilling aircraft commitments trickier, with annual deliveries yet to reach their pre-pandemic levels again.
As Boeing CEO Kelly Ortberg succinctly put it in an interview with the Wall Street Journal ahead of this week: “Orders are not our challenge, our challenge is getting these orders delivered.”
The Takeaway
Although the Farnborough Air Show might be good for securing business, schmoozing, and making splashy announcements, there remains an underlying production bottleneck issue in the aviation industry compared to previous years, with the International Air Transport Association highlighting a delivery shortfall of at least 5,300 aircraft and a record 17,000-jet backlog in its global outlook report at the end of last year.
-- Tom Jones
Snacks Shots
🥊 Kelly: Prediction markets* put English boxer Josh Kelly as the 79% favorite against Ireland’s Caoimhín Agyarko ahead of their fight on Anthony Joshua’s undercard this weekend — a bout that Kelly promised will be “spiteful” and a “spectacle.”
*Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
Big Number
That’s the share of songs uploaded to Deezer on peak days that are generated by AI, the music streamer just announced. Meanwhile, Netflix revealed that around 300 of its titles in 2026 so far have incorporated some form of generative AI, mostly in post-production, as part of its Q2 report last week.
What else we’re Snackin’
AMD and Anthropic signed a bumper deal in which the former agreed to invest $5 billion in the AI giant, while the Claude company will buy tens of billions of dollars’ worth of AMD’s servers, per the WSJ.
Spain’s 1-0 slog against Argentina was the most-watched soccer telecast in US history (38.9M on Fox) and Spanish-language TV history (23.9M via Telemundo and Peacock). It was also one of the worst ads for “the beautiful game” across the whole tournament.
Marlboro and Parliament maker Philip Morris cut its 2026 outlook, doubling down on its Zyn products as the nicotine pouch landscape heats up.
Google Q2 revenue and earnings beat Wall Street expectations; cloud unit revenue came in ahead of estimates, market seems to hate it.
Tesla reported EPS of $0.31, lower than expectations of $0.51; revenue comes in at $28.24 billion, higher than Wall Street's estimate of $25.71 billion
Snack Fact of the Day
~80,000 people saw “The Odyssey” across its opening two days in Greece — a post-pandemic record per the film’s distributor… and around the same number who filled Athens’ Panathinaiko Stadium during the opening ceremony of the first modern Olympics in 1896.
Thursday
Earnings from RTX, Honeywell, American Airlines, Lockheed Martin, PG&E Corp, Cleveland-Cliffs, Freeport McMoRan, and Comcast are all due in the busy premarket.
Intel and Digital Realty slated to release quarterly results after the close.