Gold spent most of 2025 and early 2026 acting like the one asset that couldn't be rattled. Then tariff escalation shook the foundation. The SPDR Gold Trust (GLD) slipped 2.43% over the past week even as the fund sits on a 19.1% year-to-date gain and a 75.96% return over the past year. Even the most defensive trades carry risk when macro stress is broad enough.
Brown-Forman paid $420 million in dividends in FY2025 against $431 million in free cash flow, producing an FCF payout ratio with almost no cushion. That 1.03x FCF coverage should give income investors pause. It has tightened from 1.21x in FY2023 and 1.04x in FY2024. Recent FCF has been partially supported by inventory drawdowns.
Elliott's investment is a strong vote of confidence in the work we have done to build our business and the significant opportunities ahead for Pinterest. Marc Steinberg, who is a partner at Elliott and a member of Pinterest's Board, said the firm sees substantial opportunity ahead for the social media company.
Estée Lauder forecast annual sales and profit slightly below estimates on Thursday, as the cosmetics maker navigates a brand reset with increased marketing spend while it navigates tariff-related pressures. Shares fell about 9 percent in premarket trading after it forecast third-quarter margins to contract 50 basis points due to stepped-up investments in product innovation and tariff pressures. The company, which is undergoing a turnaround under its CEO Stephane de La Faverie, flagged a $100 million tariff hit on
Cracker Barrel Old Country Store ( Nasdaq: CBRL) will report its Q4 FY2025 earnings after the close. The stock has was hit hard after a management rebranding fiasco that sent the share price down over 15%. Management continues to highlight the company's three imperatives-driving relevancy, delivering experiences guests love, and growing profitability-but the main thing to watch is how much cash has been spent and what outcomes they drove.
