Consumer Services

Metaplanet ended the third quarter with 44,000 Bitcoin after a net increase of 1,000 BTC, having sold 10,000 BTC and repurchased 11,000 crypto tokens during the period. The Japan-based crypto treasury company said the sale demonstrated its ability to convert Bitcoin into cash to meet financial obligations while keeping its long-term accumulation strategy intact. Under a revised capital allocation policy, Metaplanet plans to hold 85% to 90% of total assets in Bitcoin, with 10% to 15% allocated to strategic investments, and will use preferred stock, corporate bonds, and Bitcoin-collateralized financing while keeping crypto-related borrowing below roughly 10% of Bitcoin NAV. Its new net interest income strategy will invest in income-generating assets, including preferred securities issued by Bitcoin treasury companies, to fund further Bitcoin purchases. Metaplanet's Bitcoin income generation business produced ¥848 million, or $5.4 million, in third-quarter revenue, bringing nine-month revenue to ¥5.565 billion, or $35.4 million, with a third-quarter Bitcoin yield of 11.3% and an unchanged fiscal 2026 earnings forecast. Metaplanet stock traded about 3% higher at roughly $1.87, while Bitcoin traded near $86,000.

Ruanyun Edai Technology Inc., trading as RYET, has signed a definitive agreement to grant BioNexus Gene Lab Corp., or BGLC, an exclusive license to its Cogni AI document-intelligence platform for healthcare in Malaysia, alongside a reciprocal share exchange. The license runs ten years from closing and is renewable at BGLC's option for two further five-year terms, up to 20 years in total, and is exclusive in Malaysian healthcare for the full term. RYET would receive a 10% royalty on qualifying technology receipts collected by BGLC and its affiliates, with no minimum royalty or guaranteed revenue, and the same 10% royalty applies to any other industry BGLC adds in Malaysia by notice. At closing BGLC would issue 410,000 common shares to RYET for the license, a consideration of US$3.5 million, and a further 150,000 shares in exchange for 500,000 new RYET ordinary shares, with no cash payment or true-up. Based on Nasdaq closing prices on October 2, 2026, of US$1.27 for BGLC and US$0.8599 for RYET, the 410,000 license shares had a quoted value of US$520,700, the 150,000 BGLC exchange shares US$190,500, and the 500,000 RYET shares US$429,950. The deal comes as Malaysia accelerates public healthcare digitalization, after Prime Minister Anwar Ibrahim announced a RM1 billion allocation on August 30, 2026, involving 150 hospitals and 2,000 health clinics, though neither company is a party to or has been awarded any contract under these government programs, and Cogni AI is not an electronic medical records system. Closing remains subject to conditions including BGLC's written acceptance of the technology after testing, due diligence, corporate and regulatory approvals, and any PRC approval, registration or license RYET needs to license and deliver the technology, with either party not in default able to terminate if closing has not occurred by March 31, 2027.

Bank of America upgraded DraftKings from Neutral to Buy, sending shares up 5%, with analyst Julie Hoover keeping a $27 price target that implies 45% upside. Hoover called the stock's 47% year-over-year pullback an attractive entry point, citing DraftKings' position as the third-largest player in prediction markets. BofA estimates prediction markets could generate roughly $400 million in fees for DraftKings by 2027, plus $200 million to $400 million from market-making, while a regulatory shutdown would remove the terminal value overhang. The firm lowered its 2026 EBITDA estimate from $625 million to $500 million but raised its 2027 EBITDA estimate from $1.05 billion to $1.15 billion, and said DraftKings could guide 2027 EBITDA in the $1.0 billion to $1.2 billion range. The $27 target is based on a 12x multiple of 2027 EV/EBITDA, and BofA said it wants stronger cost discipline in the core business to support 2028 margins.

Metaplanet announced on the 5th that it acquired a net 1,000 BTC in the third quarter of its December fiscal year, bringing its holdings to 44,000 BTC as of September 30 and making it the world's second-largest holder. During the quarter it sold 10,000 BTC while purchasing 11,000 BTC; preliminary figures show the sales averaged 12,470,098 yen per BTC for a total of 124.7 billion yen, while purchases averaged 13,626,928 yen for a total of 149.896 billion yen. The sales are intended to demonstrate that Bitcoin can be converted to cash as needed as the company aims to obtain a credit rating, and the sale amount exceeds the total principal balance of interest-bearing debt such as bonds and borrowings, though no repayment or redemption was carried out. On the same day, the company revised its capital allocation policy again, setting a guideline to hold Bitcoin as a core asset at roughly 85–90% of total assets while allocating about 10–15% to a strategic investment framework. The strategic investment framework will be allocated across three uses: M&A toward building a financial platform, investment in assets expected to generate stable earnings, and investment funds for the asset management business, and the company also newly introduced a net interest income strategy that invests funds raised through means that do not dilute common shareholders into assets including overseas Bitcoin-related securities.

PTC agreed to be acquired by Schneider Electric for $205 per share, valuing the software company's equity at more than $22 billion, with the transaction expected to close by the third quarter of 2027. PTC shares surged 36% premarket on the news. Brazilian stocks rallied after right-wing presidential candidate Flavio Bolsonaro edged out incumbent Luiz Inacio Lula Da Silva by around 2 percentage points in Sunday's election, sending the iShares MSCI Brazil ETF up 12% and U.S.-listed shares of Itau Unibanco and Banco Bradesco up more than 13% each. Wells Fargo gained 1% after a Morgan Stanley upgrade to overweight from equal weight, while DraftKings popped over 5% on a Bank of America upgrade to buy from neutral, with analyst Julie Hoover expecting prediction markets to generate $400 million in fees for 2027 and between $200 to $400 million in market making. Estee Lauder rose 2.8% after Barclays upgraded the stock to overweight from equal weight, citing its growth and earnings profile over the next several years.

Bloomin' Brands is stepping up investments in Outback Steakhouse remodels as part of its turnaround strategy, targeting roughly 85 locations in 2026 after completing about 31 refreshes through July. The company plans to invest $350,000-$400,000 per restaurant on targeted interior and exterior upgrades rather than costly overhauls, covering tables, chairs, floors, ceilings, bars, televisions, landscaping, lighting and paint. Management said remodeled restaurants have historically delivered a 100-200 basis-point traffic lift approximately six months to one year after completion, and with roughly 300 Outback locations still requiring similar attention, the opportunity remains sizable. The remodel program complements broader turnaround efforts, with Outback's guest metrics improving for the fourth consecutive quarter and service scores, food quality and value perception strengthening, though traffic still declined 2.8% in the second quarter. Bloomin' Brands shares have gained 47.5% over the past six months against the industry's 15.9% decline, and the stock trades at a forward 12-month price-to-earnings ratio of 8.08 versus the industry average of 19.84.

Jim Cramer said he expects Chipotle Mexican Grill to bounce off its recent level, telling a caller on Mad Money that the stock has been at this price before and he thinks it will do so again. The comments came as the company reported quarterly revenue of $3.3 billion, up 9.3% year-over-year and ahead of consensus, with comparable restaurant sales up 2.2% on a 1% rise in transaction volume and a 1.2% increase in average check size. Digital sales accounted for 38.3% of total food and beverage revenue, and the company opened 100 new restaurants during the quarter, including 80 with the Chipotlane drive-thru format. Restaurant-level operating margins stood at 25.2%, compressed by wage inflation, higher utility expenses and expanded marketing costs, while management targets at least 7,000 restaurants across North America. Insider Monkey data showed 63 hedge funds held the stock at the end of the second quarter, down from 68, with Arrowstreet Capital the largest tracked holder after raising its position 29% to 21.24 million shares, and short interest at 3.6% of the public float.

PTT Oil and Retail Business Public Company Limited, or OR, has unveiled plans to develop a first phase of six budget hotels together with Central Plaza Hotel Public Company Limited, or CENTEL. OR will hold a 49% stake and CENTEL 51%. Five of the sites are at service stations and one is outside a service station. The first three branches, already under construction, are in Kanchanaburi, Phra Nakhon Si Ayutthaya and Songkhla, and are expected to open in the third quarter of next year. The other three, in Bangkok, Chonburi and Phuket, are undergoing environmental reports and will open in the second quarter of 2028. The six hotels use a combined investment budget of 700 million baht, with construction costs capped at no more than 1 million baht per room. Funding will be split 50% equity and 50% debt. The buildings will be five to six storeys tall, with average room sizes of 18 to 20 square metres and 79 rooms. The company targets a first-year occupancy rate of about 60%, rising to 60–70% in the second year, with a long-term goal of 75–80%. It estimates a gross profit margin of about 50%, an EBITDA margin of 40–45%, an EBIT margin of about 20%, and a net profit margin of no less than 10%. Room rates will range from 800 to 1,300 baht, with a loyalty programme linking Blue Plus Points and The ONE Points. Ratchasuda Rangsiyakul, Senior Executive Vice President of Special Business 1 at OR, said entering the hotel business will help lift traffic at its service stations from 3.9 million users per day to 5 million per day. The first six branches will serve as a pilot to test the system before expanding to a full 50 locations in 2031, and once the model proves successful the company will scale up through franchising. The joint venture will provide management services to a standard, and dealers in the group have already approached the company seeking to open hotels.

Chayut Krailatrattanasiri, Assistant Director of the Research Department at Land and Houses Securities, told the Vision team that the overall outlook for tourism stocks in the fourth quarter of 2026 is clearly quite positive. Although early in the quarter there was pressure from flooding, this is assessed as only a short-term impact. The main supporting factors come from China's Golden Week, a long holiday early in the fourth quarter that has helped drive Chinese tourist arrivals into Thailand higher, with a clear acceleration, as well as Thailand hosting the IMF and World Bank meetings in mid-October, a positive factor in terms of policy and economic activity that directly supports tourism stocks. The research team views hotels as the biggest beneficiaries of the recovery in tourist numbers, expecting fourth-quarter operating results and profits to grow outstandingly. Airlines also benefit, but their upside is limited by still-high oil costs. The three standout hotel stocks named as Top Picks are AWC, with a target price of 20 baht, which the research team is in the process of reviewing upward on structural positives from the establishment of AWR that will help unlock asset value and increase liquidity; ERW, with a target price of 80 baht, which is assessed as still offering upside for investment; and CENTEL, with a consensus target price of 50 baht.

Travel + Leisure Co. announced the introduction of Trail Partners, a new network of outdoor hospitality partners that lets Eddie Bauer Adventure Club owners use their club credits to book stays and excursion add-ons. Under Canvas is the first Trail Partner named, giving owners access to all 18 Under Canvas properties across North America. Owners can book Trail Partner stays through the club's dedicated travel agency, which helps them explore participating destinations, check availability and apply credits toward eligible stays. The Eddie Bauer Adventure Club, operated by Travel + Leisure Co. under a license from Authentic Brands Group, opened its first Basecamp location in Moab, Utah earlier this year. Beyond Basecamps and Trail Partner stays, owners receive 50% off regularly priced Eddie Bauer apparel and gear online, automatic Guide-Tier status in the Eddie Bauer Adventure Rewards Program, and one complimentary annual excursion for two people.

Analysts lifted their fair value estimate for Greggs from £17.77 to £18.74, with JPMorgan keeping an Overweight rating and raising its price target from £20.50 to £22.10. RBC Capital moved Greggs to Sector Perform from Outperform, citing harder-to-achieve cost savings after recent efficiency efforts and the stock's recent share rally, even as it lifted its price target from £18.30 to £19.60. The updated valuation assumes revenue growth of 6.62%, up from 6.46%, a profit margin of 5.73%, down from 5.76%, a future P/E multiple of 16.23x, up from 15.40x, and a discount rate of 9.46%, down from 9.51%.

Norwegian Cruise Line Holdings Ltd. said in late September 2026 that it expects third-quarter results to exceed prior guidance, reaffirmed its full-year 2026 outlook, and reported record booked occupancy and pricing for 2027 alongside strong 2028 bookings. The company is supporting that outlook with a planned US$750 million senior notes offering due 2031, whose proceeds it intends to use to redeem its 6.125% notes due 2028 and pay down revolving and export credit facilities. The combination of better-than-expected revenue trends, record forward bookings and active balance sheet management points to a business focused on improving both earnings quality and financial resilience, though high interest costs and leverage remain the biggest risk. Norwegian's narrative projects $11.6 billion in revenue and $895.5 million in earnings by 2029, requiring 4.5% yearly revenue growth and a roughly $134.7 million earnings increase from $760.8 million today. More optimistic analysts assume revenue of about US$12.1 billion and earnings of US$1.1 billion by 2029, weighting balance sheet repair and future yield improvement more heavily than the baseline case.

MAGURO Group Public Company Limited, or MAGURO, officially launched the first Thailand branch of its Japanese dessert brand AGE.3 on 1 October 2026 at Central Park, G floor. Chief Executive Officer Jakkrit Saisomboon said this marks a concrete starting point for the company's push into the dessert and snack market, an important step in expanding its business portfolio from restaurants into the Snack & Dessert segment and the Accessible Premium group, which offers more frequent consumption occasions and reaches a broader customer base. The branch offers more than 30 menu items spanning savoury, sweet, ice cream and drinks, including Whipped Cream at 89 baht, Egg Salad at 115 baht, Potato Salad at 115 baht, Honey Cheesecake Cream at 119 baht and Blueberry at 135 baht, with many items priced lower than buying them in Japan. There is also a Bangkok Exclusive item, Pad Kra Pao, combining a chicken-and-pork hamburger patty, onsen egg, lettuce, holy basil sauce and red chilli. AGE.3's highlight is its technique of frying Shokupan bread with a special recipe that precisely controls temperature and time, paired with a deeply chilled whipped cream filling that uses Lakanto, a natural sweetener, to replace sugar entirely in a No Sugar Added formula that answers the Healthy Lifestyle trend. The brand has previously reached peak sales of 3,000 pieces per day from long queues, and is recognised as a pioneer of the Redefining the Fried Sandwich concept.

Chase and IHG Hotels & Resorts announced a new IHG One Rewards Premier Select Credit Card alongside enhanced benefits across the rest of the IHG One Rewards card portfolio. The new Premier Select card carries a $350 annual fee and offers more than $1,000 in value in the first year, including up to $300 in annual Food & Beverage Rewards, a $200 annual airline statement credit, up to $50 United TravelBank Cash, an Anniversary Free Night with a 60,000-point redemption cap, up to 28X total points on IHG stays, automatic Platinum Elite status and 20 Elite Night Credits each calendar year. The three updated cards are the IHG One Rewards Premier Credit Card at a $150 annual fee with over $700 in first-year value, the no-annual-fee IHG One Rewards Credit Card formerly known as the Traveler Card, and the IHG One Rewards Business Credit Card at a $200 annual fee with over $750 in first-year value. Existing cardmembers will be notified in October about the new and enhanced benefits and each update's effective date, with annual fees adjusted in 2027. Through November 18th, limited-time launch offers let new Premier Select cardmembers earn 200,000 bonus points after spending $5,000 in the first 3 months, while the Premier, Credit Card and Business versions offer 180,000, 125,000 and 190,000 bonus points respectively.

MAGURO Group Public Company Limited, or MAGURO, has launched Age.3, a fried sandwich brand from the Ginza district of Japan, with its first branch in Thailand at Central Park, G floor, starting from 1 October 2026. Chief Executive Officer Jakkrit Saisomboon said this marks a concrete starting point for the company's push into the dessert and snack market. Age.3 once reached peak sales of 3,000 pieces per day in Japan, using a special Shokupan bread frying technique with controlled temperature and timing to achieve a thin, crispy texture throughout each piece without being oily, combined with fillings of ice-cold whipped cream that uses Lakanto, a natural sweetener, to replace sugar entirely. The Thai branch will offer more than 30 menu items covering breakfast, main meals, snacks and desserts, such as Whipped Cream at 89 baht, Egg Salad at 115 baht, Potato Salad at 115 baht, Honey Cheesecake Cream at 119 baht and Blueberry at 135 baht, with many items priced lower than in Japan. It also features a Bangkok Exclusive item, Pad Kra Pao, combining a chicken-and-pork hamburger steak, onsen egg, lettuce, basil sauce and red chili. The opening of this branch is an important step for MAGURO GROUP in expanding its portfolio from restaurants into the Snack & Dessert market and the Accessible Premium segment, with a compact store model focused on takeaway and daytime dining.

Maguro Group Public Company Limited, or MAGURO, has announced the opening of its first AGE.3 store in Thailand at Central Park, G floor, starting from 1 October 2026. Chief Executive Officer Jakkrit Saisomboon said this marks an expansion of the business portfolio into the dessert and snack market. AGE.3 is a Japanese snack brand known for its Fried Sandwich menu, which once reached sales of as many as 3,000 pieces per day. The Thai branch offers more than 30 menu items covering snacks, desserts, ice cream, and beverages, along with a No Sugar Added whipped cream recipe that uses Lakanto, a natural sweetener, instead of sugar. The company has also developed a Bangkok Exclusive menu such as a Fried Sandwich filled with Pad Kra Pao. Many items in Thailand are priced lower than in Japan, such as Egg Salad and Potato Salad at 115 baht, Honey Cheesecake Cream at 119 baht, and Blueberry at 135 baht. The opening of AGE.3 is part of MAGURO GROUP's strategy to expand from restaurants into the Snack & Dessert market and Accessible Premium, using a compact store model focused on Grab & Go and daytime eating.

Kasikorn Securities revealed that Trip.com Group indicated Chinese tourists during Golden Week 2026 are tending to travel earlier and stay longer, with flight bookings to Phuket rising 78% year on year, while Chiang Mai is gaining popularity among Gen Z, in line with the recovery of travel in Asia. In addition, bookings for accommodation of seven nights or more rose 123% year on year, reflecting both an increase in the number of trips and in their duration. The research team views this as positive momentum for the tourism sector, namely AOT, AAV, BA, CENTEL and ERW, given the recovery opportunity for Chinese tourists and tourism activity during Golden Week. However, the flood situation still needs to be monitored closely.

MAGURO GROUP Public Company Limited, or MAGURO GROUP, has officially opened its first Age.3 branch in Thailand on 1 October 2026 at Central Park, G floor. Age.3 is a specialty fried sandwich shop from the Ginza district of Tokyo, Japan. This marks an important step building on the brand licence secured in the middle of last year. Mr. Jakkrit Saisomboon, Chief Executive Officer, said this first branch opening is a concrete starting point for the company's push into the dessert and snack market, bringing the Fried Sandwich experience that once created long queues in Ginza and adapting it to the behaviour and purchasing power of Thai consumers, with accessible prices and Guilt-Free menus using No Sugar Added whipped cream that uses Lakanto, a natural sweetener, to replace sugar 100%. The image of Age.3 in Japan is queues of customers waiting for hours, and it once reached sales of as many as 3,000 pieces per day. For the Thai branch, more than 30 menu items are prepared, covering all times of day, from Whipped Cream at 89 baht, Egg Salad at 115 baht, Potato Salad at 115 baht, Honey Cheesecake Cream at 119 baht, to Blueberry at 135 baht, with many items priced lower than buying them in Japan. There is also a Bangkok Exclusive menu item, Pad Kra Pao, which mixes chicken and pork hamburger, onsen egg, lettuce, basil sauce, and red chilli. This opening of Age.3 is considered an important step for MAGURO GROUP in expanding its business portfolio from restaurants into the Snack & Dessert market and the Accessible Premium segment, with a compact store model focused on takeaway and eating during the day.