Brew Markets A Robust Starbucks Investor Day & Defense Earnings Roundup
Jan 29, 2026
Live takeaways from Starbucks’ investor day, focusing on revamped stores, in‑store tech, and a loyalty relaunch. A tour through defense earnings, rising military budgets, production backlogs, and policy pressure on contractors. Quick swings in tech as Meta doubles down on AI spend and Tesla pivots toward AI and robotics.
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Role Play Makes Defense Earnings Digestible
- Ann Berry and John role-played as major defense contractors and held up tickers to explain results.
- They walked through Lockheed Martin's revenue beat and F-35 concentration concerns during the segment.
F-35 Exposure Is A Key Risk For Lockheed
- Lockheed's F-35 program represents about 25% of its business, leaving it exposed to shifts toward lower-cost drones.
- Analysts mostly rate the stock a hold because of that concentration risk despite recent revenue strength.
Submarine Demand Fuels General Dynamics
- General Dynamics saw strong marine segment growth with submarine tonnage up 13% and a $180 billion backlog.
- Improved shipyard productivity and increased submarine output are driving near-term revenue strength.