For the first time, a Nasdaq-listed fintech has staked its treasury on INJ, signaling crypto’s deeper convergence with traditional finance.
The move lit up traders’ screens as the market weighed what could be the start of a new treasury trend.

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Markets
U.S. stocks fell Friday as weak August payrolls reinforced expectations for Fed rate cuts but also deepened recession fears, pressuring sentiment from record highs.
DJIA [-0.48%]
S&P 500 [-0.32%]
Nasdaq [-0.03%]
Russell 2k [+0.46%]

Market-Moving News
Consumer
PepsiCo Gets a $4B Wake-Up Call From Elliott

PepsiCo (NASDAQ: PEP) has been serving investors with flat returns for years, lagging both Coca-Cola and the broader staples sector.
Now Elliott Investment Management has poured $4 billion into the stock, betting that a shake-up could finally fizz up value.
For Pepsi, this isn’t just another investor. It’s an activist with a track record of forcing big changes.
The Coke Playbook
Elliott’s argument is simple: Pepsi makes more revenue than Coke but converts far less into profit. The fix? Refranchise bottling, slash capital intensity, and focus on brand power.
Coke did it in 2017, margins expanded, and soda volumes stabilized. Pepsi, meanwhile, stayed bogged down in bottling and watched profitability slide.
Value on the Table
Elliott believes refranchising and other shifts could unlock more than 50% upside.
That’s the gap between Pepsi’s market cap and Coke’s, and closing it would change the game for shareholders.
The hedge fund’s stake is only 2%, but it doesn’t need control to make noise.
Board seats and pressure campaigns have worked before — and Pepsi may soon find itself forced to choose between staying stuck or playing catch-up.
Power Play
Flat performance has left Pepsi stuck in Coke’s shadow. Elliott’s push is a reminder that even sleepy staples can be jolted awake when activists bring the caffeine.

Digital Advertising
Google’s Wallet Can Handle the Fine — Can Its Adtech Moat Handle the EU?

Alphabet (NASDAQ: GOOGL) has been fined €2.95 billion ($3.45 billion) by the European Commission for favoring its own adtech stack.
Beyond the cash, regulators also ordered structural changes, a rare demand that cuts straight into how Google runs the pipes of online advertising.
For a company sitting on more than $100 billion in cash, the penalty itself is pocket change.
The bigger threat is whether mandated changes eat into margins in one of Alphabet’s most reliable profit engines.
Not Alone, but First in Line
Meta and Amazon are still under investigation, but Alphabet now carries a binding EU order.
That distinction makes Google the test case for how far regulators can push Big Tech’s playbook.
The stock may wobble on headlines, yet diversification across Search, YouTube, and Cloud leaves the long-term story intact.
The risk is less about solvency and more about whether the moat around adtech gets a few cracks.
Who Holds the Cards
Alphabet can pay the fine without blinking. What investors can’t ignore is that Brussels just claimed a seat at Google’s adtech table — and regulators rarely give seats back.

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Driver Assistance Systems
Qualcomm Joins BMW in the Race to Make Cars Think for Themselves

Qualcomm (NASDAQ: QCOM) just took a major step out of your pocket and onto the highway.
Its Snapdragon Ride Pilot system, launching with BMW’s iX3 SUV, promises hands-free driving, lane changes, and even self-parking across more than 60 countries.
That rollout isn’t just bells and whistles. It’s Qualcomm saying the next growth engine won’t be smartphones, it’ll be steering wheels.
Driving Into Diversification
Automotive chips are climbing fast on Qualcomm’s priority list. Management is eyeing $8 billion in auto revenue by 2029, with contracts that stretch years instead of quarters.
For shareholders, that means stability against the ups and downs of handset demand.
With automotive revenue already up 21% year over year, Ride Pilot puts real numbers behind the diversification story.
Competing for the Dashboard
Nvidia and Mobileye aren’t the only names chasing the car of the future.
Qualcomm locking down BMW as an anchor client validates its tech at scale and boosts credibility with other global automakers.
It’s not just about luxury brands, either. Making the system available to Tier-1 suppliers opens a much wider lane for adoption across the industry.
Green Light
Qualcomm isn’t just dabbling in cars.
By embedding Snapdragon into advanced driver-assistance, it’s steering straight into the future of mobility — and giving investors another growth pillar to ride on.

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Top Winners and Losers
Pineapple Financial Inc [PAPL] $6.62 (+59.92%)
Pineapple soared after closing a $100 million private placement and becoming the first public company to anchor its treasury in Injective’s INJ token, signaling a bold crypto-finance convergence.
Olema Pharmaceuticals Inc [OLMA] $8.31 (+30.87%)
Olema ticked higher after investors speculated on upside from its Pfizer breast cancer collaboration and the company granted stock options to new hires, hinting at growth ahead.
Sintx Technologies Inc [SINT] $5.51 (+25.80%)
SINTX jumped after publishing new peer-reviewed research showing its proprietary ceramic wipes out viruses like SARS-CoV-2 in minutes, expanding its infection-control ambitions.

Super X Ai Technology Limited [SUPX] $49.51 (-27.19%)
Super X Ai Technology collapsed after a short-seller report accused the company of faking its AI credentials, sparking fraud probes and investor panic.
Lululemon Athletica [LULU] $167.76 (-18.60%)
Lululemon Athletica plunged after cutting full-year guidance and missing revenue expectations, as U.S. demand cooled and product execution slipped.
American Outdoor Brands Inc [AOUT] $8.52 (-18.12%)
American Outdoor Brands tumbled after posting a surprise loss and dismal revenue drop, signaling deteriorating demand and profitability.

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Everything Else
The U.S. labor market is showing deeper cracks as monthly job growth slows to a near standstill.
The Trump administration is preparing new restrictions on Chinese drones and heavy vehicle imports.
Tesla has unveiled a staggering $1 trillion pay package for Musk, tied to ambitious long-term goals.
Mortgage rates recorded their steepest one-day drop in over a year, giving some relief to borrowers.
Wall Street retreated from recent record highs as fears of an economic slowdown weighed on sentiment.
Lululemon shares drops after slashing its earnings forecast and warning of a $240M tariff hit.

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