Markets

Campbell’s Q3 net sales rose 4% to $2.5 billion, with organic growth of 1%. Adjusted EBIT increased 2% to $362 million, while adjusted EPS decreased 3% to $0.73. The company maintained its fiscal year 2025 guidance, anticipating adjusted EPS at the lower end of the range. They also returned $403 million to shareholders.

Following the Dragon Boat Festival, Americans anticipate a combined National Day and Mid-Autumn Festival holiday, set to be an 8-day break. The recent holiday saw increased short-distance travel, often within provinces. Key trends include the rise of road trips fueled by family outings and a surge in electric vehicle use, accounting for around 21% of daily traffic. Drivers are advised to exercise caution due to adverse weather conditions.

China’s EV market is transforming, emphasizing personalized experiences. A new report identifies eight distinct EV user personas with unique preferences, shaping consumer behavior and charging habits across urban tiers. The study highlights trends towards lifestyle-focused mobility, with success depending on understanding individual consumer journeys and providing tailored solutions, shifting the industry from technology to a life-choice driven approach.

A company is developing 3nm application processors without using EUV lithography, circumventing the conventional path with multi-patterning and step-and-scan systems. Having already achieved 5nm success this way, they aim for a 2025 launch with GAA technology. While ambitious, this approach faces skepticism due to the yield and efficiency challenges associated with DUV-based multi-patterning compared to EUV.

Life360 plans to issue $250 million in convertible senior notes due 2030 in a private offering to institutional buyers, with an option for an additional $37.5 million. The notes, with semi-annual interest payments, can be converted under certain conditions by holders, and Life360 can redeem them or repurchase them upon a “fundamental change.” Proceeds will finance capped call transactions (to mitigate share dilution) and general corporate purposes, potentially including acquisitions or product expansion. The specific terms and conditions will be available upon pricing.

A woman’s unusual method of eating an apple, involving meticulously extracting the flesh with a straw over two hours, has gone viral. While the video generates mixed reactions online, health experts caution that the technique could cause jaw strain and oral damage. They also point out increased oxidation and bacterial growth, along with potential mycotoxin risks, making the practice questionable beyond its novelty.

Defense Therapeutics Inc. announced the opening of its first U.S. lab in the Boston-Cambridge area. This strategic move expands its R&D efforts within a leading biotech hub, focusing on the Accum® platform for antibody-drug conjugates (ADCs) used in cancer treatment. The Watertown facility provides access to crucial scientific resources and collaboration opportunities. Defense Therapeutics aims to establish a long-term presence in the area, aiming to strengthen its commitment to advancing their platform.

Apple is appealing the EU’s Digital Markets Act (DMA), arguing it threatens user privacy and security by requiring data sharing with external developers. The company claims the DMA’s interoperability demands, including features like cross-device functionality, could jeopardize intellectual property and expose sensitive data. This legal action, following DMA violation fines, underscores rising tension between Apple and regulators, particularly concerning innovation and competition.

Flex LNG Ltd. announced the successful completion of a $175 million JOLCO lease financing for the Flex Courageous, generating $42 million in net proceeds and extending debt maturity to 2035, while reducing debt costs. This is the first step in the company’s refinancing program targeting three vessels with a 37-year backlog. Flex LNG plans to refinance two more vessels in 2025 to further strengthen its financial position, which is already robust with a cash balance of $410 million.

Xiaomi founder Lei Jun responded to criticisms regarding its EV market entry with social media posts. He echoed resilience, emphasizing “opportunities for those who come later”. This followed remarks from a rival executive appearing to target Xiaomi’s success. Lei Jun also shared a quote about criticism signifying influence, indicating the company views scrutiny positively while acknowledging user support.