[SCHEDULE 13D/A] Great Elm Group, Inc. Amended Major Shareholder Report

Baird downgraded Chipotle (CMG), Domino's (DPZ), and Black Rock Coffee Bar (BRCB) to Neutral, citing slower growth and competitive pressures. It upgraded Darden (DRI) to Outperform, praising its strong fundamentals. Price targets were adjusted for each. Baird also initiated coverage of Brinker (EAT) and Jersey Mike's with Outperform ratings, and named Cava (CAVA), Brinker, Starbucks (SBUX), and Dutch Bros (BROS) as top picks.

Philip Morris International (PMI) and Altria have signed contract manufacturing deals to boost exports and imports. Altria will benefit from a tax rebate, while PMI maintains no U.S. sales plans. First shipments are expected in 2027, with no impact on 2026 performance. Altria expects a profit boost in late 2026 from similar partnerships.

Alibaba executives Joseph Tsai and Eddie Wu bought HK$120 million ($15.3 million) in shares following a stock price drop after an $80 billion capital raise. The offering, priced at a 3.6% discount, saw strong institutional demand. Alibaba's shares fell 8.5%, their largest decline since early 2025. The company plans to use funds for AI investments, including its Qwen AI model family.

UPS is investing $2 billion through 2028 in international, healthcare, and supply chain businesses. The funds will support new facilities and tech-enabled logistics centers, aiming to enhance global supply chain adaptability. UPS also invested $48 million in temperature-controlled facilities for healthcare initiatives, according to the company.

Phillip Securities analyst Glenn Thum set a $75 target price for SpaceX (SPCX), suggesting a 45% downside. Concerns include high capital expenditures, revenue concentration, and potential selling pressure from lock-up expirations. Despite strong growth, SpaceX's high P/S ratio and operating losses raise risks, according to Thum.

Cleveland-Cliffs (CLF) stock rose 2.0% to $11.50 in pre-market trading after announcing a $1 billion modernization plan for its Ohio facility, co-funded by a $500 million U.S. Department of Energy award. The project includes AI-enabled upgrades and aims to reduce costs and protect 2,300 jobs. Analysts have a 'Hold' consensus with a $12.28 price target. The stock's gain is driven by the project announcement rather than broader market trends.