☕️ No soup for you

Huawei’s new trifold phone... September 12, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [AT&T In-car Wi-Fi]( Good morning, Hey, this is pretty cool: A new record was just set for the [most people orbiting Earth]( at one time, according to Polaris Dawn’s Content Director John Kraus. The 19 people in orbit include the crews of the International Space Station, Soyuz MS-26, Polaris Dawn, and the Tiangong Space Station. And to think—this milestone would never have been reached had astronauts Butch Wilmore and Suni Williams not been stranded in space. Thanks, Boeing! —Matty Merritt, Cassandra Cassidy, Molly Liebergall, Adam Epstein, Neal Freyman MARKETS Nasdaq 17,395.53 +2.17% S&P 5,554.13 +1.07% Dow 40,861.71 +0.31% 10-Year 3.653% +1.0 bps Bitcoin $57,600.18 -0.16% GameStop $20.64 -11.98% Data is provided by *Stock data as of market close, cryptocurrency data as of 5:00pm ET. [Here's what these numbers mean.]( - Markets: Between new inflation data and the presidential debate, investors had a lot to react to yesterday. The result: [Stocks jumped]( for a third straight day, though that was more due to the tech-heavy Nasdaq bouncing back from last week’s sell-off than anything else. GameStop could not get in on the fun, dropping 12% after it whiffed on revenue estimates.  HIGHER ED [Black enrollment at some elite colleges is dropping]( [Harvard University students]( Kraft/Getty Images Less than three months after the Supreme Court [struck down]( affirmative action in college admissions, the ruling is doing pretty much exactly what experts said it would at top schools. Harvard released the racial makeup of its class of 2028 yesterday, reporting that Black students accounted for 14% of the group, down from 18% in last year’s freshman class. The number of students who chose not to report their race or ethnicity to the university jumped from 4% last year to 8% this year. Experts warned that diverse applicants would suffer following the fall of affirmative action, which was designed to increase educational opportunities for marginalized groups. MIT said its percentage of Black students dropped 10 points to just 5% in this year’s incoming class, while Asian American first-years increased from 40% to 47%. Black students at Amherst College make up just 3% of its freshman undergraduate class, compared with 11% last year, according to federal reporting guidelines. But the trend wasn’t present everywhere: At other elite universities like Princeton, Yale, and the University of Virginia, enrollment demographics were relatively unchanged from the previous year. At Princeton and Yale, the percentage of Asian American students declined. What does it all mean? Like any collection of loose statistics, it’s too early to tell. Some school administrators say it could be years before we see the full effects of the end of affirmative action. This has been a weird year for college apps. The botched [FAFSA rollout]( delayed applications across the US. Meanwhile, MIT changed how it asked students to report their race and Harvard said it received the fewest applications in four years amid the fallout from the controversy surrounding former president Claudine Gay and her subsequent [resignation](. Big picture: Administrators watching their colleges (specifically, the ones with direct pipelines to government internships and executive alum networks) become less diverse are still scrambling to figure out ways to entice potential students. And that’s before the imminent “[enrollment cliff]( PRESENTED BY AT&T IN-CAR WI-FI [Strong offense, stronger signal]( [AT&T In-car Wi-Fi]( It’s that time of year again. Mm-hmm, football is back, and that means it’s time to suit up for game day and get your tailgate playbook in order. Cold drinks and smoked meats? Sure, they’re pretty clutch, but let’s face it: Wi-Fi is the real MVP of your tailgate, and [AT&T In-car Wi-Fi]( can help you take your parking lot soiree to the end zone. They cover more roads than any other carrier, let you connect up to 10 devices, and [can keep you connected so you can stream the big game]( bump your fave tunes, check up on your fantasy roster—you name it. [Make your tailgate a hall of famer](. WORLD [Tour de headlines](#) [American shops for groceries]China News Service/Getty Images 🧊 Inflation cooled to a three-year low. Somewhere in the DC suburbs, Jerome Powell just let out a hearty exhale and cracked a victory smirk. The consumer price index fell for the fifth straight month in August to 2.5%, down from 2.9% in July and approaching the Fed’s 2% target. The news [all but locks in]( an interest rate cut this month, but it’s likely to be a smaller quarter-point reduction (as opposed to a half-point) as certain prices like housing remained stubbornly high. Still, it underscores the narrative that inflation has largely been tamed, while the Fed pivots to worrying about the labor market instead. 🛒 Amazon launched a budget-friendly grocery brand. Amazon Saver, the e-commerce giant’s [answer]( to private-label food brands from rivals Walmart and Target, will eventually feature more than 100 items—most of which cost less than $5. The company already has grocery brands, but the “no-frills” Saver is the cheapest. Amid inflation, cash-strapped shoppers increasingly abandoned premium brands for low-budget options like Target’s Good & Gather, though Amazon hadn’t yet joined the fray until now. Prime members will get an additional 10% off Saver products. The debate got big ratings. The first (and only?) debate between Vice President Kamala Harris and former President Donald Trump drew ~57.8 million viewers across broadcast and cable, significantly more than the 47.9 million who watched the June debate between Trump and President Joe Biden. [The total audience]( is likely to jump higher once more networks are factored in, though it’s unlikely to surpass the record 84 million who watched the first 2016 debate between Trump and Hillary Clinton. According to polls, prediction markets, and pundits, Harris won Tuesday’s verbal bout vs. Trump. TECH [The $2,800 phone with 3 folds and 5m preorders]( [Huawei Mate XT]( Images This isn’t the trifold you begged your mom to get the night before a project was due. Huawei’s new phone is basically a Transformer that fits in your pocket and, according to the company’s CEO, turns “science fiction into a reality.” Here’s what we know about the [Mate XT]( - It folds at two seams to allow for three modes of operation—a regular-size phone, a larger square phone, and a tablet. - When fully expanded, the screen measures 10.2 inches diagonally. - It’s equipped with AI translation, messaging, and photo editing capabilities. The $2,800 price tag hasn’t turned people away, even if it is a lot to pay for a product reminiscent of a travel brochure. The phone already has 5 million preorders, per Huawei, though many analysts expect [sales]( to be a modicum of that number because the model is difficult to make. Big picture: For years, the US has tried to stymie Huawei’s growth with sanctions, but the Chinese tech giant has fought back. The company reported double-digit revenue and profit growth last month and is giving Apple a run for its money in the Chinese market. Mate XT officially launches on Sept. 20, the [same day]( as Apple’s AI-enabled iPhone 16.—CC TOGETHER WITH MONOGRAM [Monogram]( Ending tonight: AI-powered 8% dividend opportunity. By 2027, robotic knee surgeries will be 4x as common. [Monogram (Nasdaq: MGRM)]( known for their autonomous robotic surgical systems, just filed for FDA approval to commercialize their patented tech. Until midnight, they’re offering the opportunity to buy preferred stock with an 8% dividend (in cash or kind) at $2.25/share. Their common stock closed as high as $3.44 in the past month. [Monogram currently plans to end the Series D Preferred offering at midnight PST](. FOOD [Why Campbell is removing ‘Soup’ from its name]( [Rows of Campbell's soup cans]( Bell/Getty Images One of America’s favorite companies doesn’t want to be known only for selling broth that [melts]( snowmen back into children. Campbell Soup Company is planning to change its name to The Campbell’s Company, CEO Mark Clouse announced this week, in a sign that the 155-year-old business is [shifting]( more attention to its non-soup brands. Don’t worry: Soup production will proceed normally. Campbell just doesn’t rely on it as much as it used to. “We will always love soup and we’ll never take our eye off of this critical business, but today we’re so much more than soup,” Clouse told investors. - Almost [half]( of Campbell’s revenue now comes from its snack sales, which grew 13% last year compared to 3% growth for soup. - Campbell has so many popular food brands under its umbrella, including Goldfish and Pepperidge Farm, that it’ll keep growing even if its soup business stays flat, the company projects. Campbell also owns Kettle, Cape Cod, Late July, Snyder’s, Prego, Swanson, V8, and Rao’s, among others. Changing Campbell’s official name “reflects who we are today” but still “celebrates soup,” Clouse said. Zoom out: Everyone’s trying to get a stronger grip on the $200 billion snack industry—that’s why M&M’s-maker Mars [bought]( pantry giant Kellanova for $29 billion last month.—ML STAT [Prime number: 35b minutes](#) [Bluey]Ludo Studio If your preschooler is suddenly saying “nawr” and asking for pavlova, you have Bluey to blame. The animated Australian kids show is the [most-watched show]( in the US this year, with 35 billion minutes viewed, according to Nielsen. Bluey, which follows the adventures of an Aussie cattle dog and her family, has taken the world by storm since debuting in 2018, proving to be the rare series that both entertains young children and also doesn’t make parents want to claw their eyes out. It’s on track to smash the 43.9 billion minutes watched last year, when it was the No. 2 show in the US behind only streaming sensation Suits. NEWS [What else is brewing](#) - [Caroline Ellison]( the former Alameda Research CEO and ex-girlfriend of FTX founder Sam Bankman-Fried, is asking for no prison time for her role in the collapse of the crypto exchange, per court filings. - [McDonald’s]( is rolling out digital ordering kiosks that accept cash and distribute change, giving customers without a credit card another option to pay. - [Forty-two state attorneys general]( are calling on Congress to pass legislation that would require social media companies to place mental health warning labels on platforms. - [Ken Griffin]( the billionaire hedge fund manager, made a “philanthropic leadership gift” to pay for the hiring of new US men’s national soccer team head coach Mauricio Pochettino. - [The State Department]( made it easier to renew your passport online and said it can now handle processing more applications per day. - [Zimbabwe]( is considering culling elephants for the first time since 1988 to address food shortages. RECS [To do list Thursday] Float: The best [hot-air balloon festivals]( this fall. Live Más: A map of [Taco Bell prices]( across the US. Pack your bags: Answer 10 questions to uncover the [ideal nation]( for you to live in. Read: How Joe Rogan turned Austin, TX, [into a haven]( for tech bros and “free thinkers.” Investment opportunity ends today: Monogram (Nasdaq: MGRM) just filed for FDA approval to commercialize [their patented AI-powered surgical robots](. They’re currently selling unlisted preferred shares with an 8% dividend (in cash or kind). [Invest before this offering ends]( It’s time for…financial triviaaa! Tune in as Morning Brew Daily’s Toby and Neal test each other’s [financial know-how]( (and answer allll your burning $$$ questions). [Sponsored by MassMutual]( *A message from our sponsor. GAMES [The puzzle section](#) Brew Mini: Today’s newsletter might require multiple takes. [Check it out here](. Three Headlines and a Lie Three of these headlines are real and one is faker than your plans to “take it easy” this holiday season. Can you spot the odd one out? - Man [arrested]( for creating fake bands with AI, then making $10 million by listening to their songs with bots - Chicago restaurant [debuts]( the ‘most expensive martini in the US’ - ‘Metamorphosis VR’ takes Franz Kafka’s work and [builds]( a surreal virtual reality world from it - Having chips and salsa at an event is more likely to [increase]( attendance than a dog being present, study finds SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=a905682a]( ANSWER We made up the one about chips and salsa. Word of the Day Today’s Word of the Day is: modicum, meaning “a small amount.” Thanks to Pam from Franklin, TN, and others for the little suggestion. Submit another [Word of the Day here](. ✢ A Note From AT&T In-car Wi-Fi Based on independent third-party data. Requires eligible car and wireless service plan. Additional restrictions apply. ✳︎ A Note From Monogram This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. Additional information on the company and risk factors related to the offering can be found in the prospectus supplement and accompanying base prospectus have been filed with the SEC. [( Written by [Adam Epstein]( [Matty Merritt]( [Cassandra Cassidy]( [Molly Liebergall]( and [Neal Freyman]( Was this email forwarded to you? Sign up [here](. Interested in podcasts? - Check out ours [here]( [ADVERTISE]( // [CAREERS]( // [SHOP]( // [FAQ]( Update your email preferences or unsubscribe [here](. View our privacy policy [here](. 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