Why Jefferies Is Bullish on Formula One Stock Now

Liberty Media Formula One Corp’s FWONK Series C shares fell 2.7% pre-open to $100.04 after the company announced a $600 million private placement of convertible senior notes, with an option for up to $90 million more. The notes can convert into cash and/or shares, raising dilution concerns. The move follows Q2 2026 results that missed forecasts.

Liberty Media Formula One Corp (FWONK) shares fell 2.7% premarket after it announced a $600 million convertible senior notes offering. The private placement includes an option to add $90 million. Notes convert into cash and/or Liberty Media Series C stock, with terms set at pricing. Net proceeds will fund capped calls on existing 2027 notes, working capital, and repayment.

Green Thumb Industries (GTBIF) reported Q2 revenue of $306.7M, EBITDA of $84.3M, and net income of $4.9M. The company grew revenue by 4.6% YoY and maintains a strong balance sheet with $283.6M in cash and $283M in debt. It repurchased 7.9M shares in Q2. Despite challenges, its financial flexibility and potential federal reform make it a notable player in the cannabis industry.

Medtronic (MDT) reported strong Q1 results, raising its fiscal 2027 revenue growth outlook to 7.25-7.75%. The company is investing in high-growth areas like robotic surgery and partnerships, such as a $700M deal for Cornerstone's Sentire Surgical System. However, it faces stiff competition from peers like Johnson & Johnson and Intuitive Surgical. Institutional investors, including BlackRock, are increasing their stakes in MDT.

Costco Wholesale (COST) reported annual revenues of $303B and EPS of $20.76, meeting analyst expectations. Shares rose 3.1% to $923. Analysts predict 2027 revenues of $328.3B (8.3% growth) and EPS of $22.78 (9.4% growth), with a consensus price target of $1,058. Growth is expected to outpace industry averages.

Paychex reported Q1 2027 revenue of $1.63B, up 6% YoY, with net income rising 12% to $429.7M. Growth was driven by payroll, human capital management, and PEO businesses. Operating income increased 14% to $619.2M, while operating margin improved to 38%. The company also reported higher interest income and reduced acquisition-related expenses. Paychex declared $423.6M in dividends and has a $1B share repurchase program.