Americans are bulking up on ARMs

• No pop for Birkenstock: Sandal-maker Birkenstock (BIRK) fell out of fashion quickly following its IPO yesterday; The stock ended the day nearly 13% below its IPO price, giving it a market value of $7.55 billion (CNBC)
  

• China’s economic woes spell trouble for luxury: LVMH (LVMUY) reported a sharp slowdown in sales growth as the world’s biggest luxury-goods company struggled to lure big-spending Chinese consumers back to its boutiques after the end of China’s pandemic restrictions. Other luxury goods stocks took a dive as a result (WSJ)
  

• Americans are bulking up on ARMs: Adjustable-rate mortgages (ARMs) represented 9.2% of total mortgage applications the week ending Oct. 6, marking their high point since November 2022; ARM volume rose 15% from the previous week (MBA)
  

• Largest DDoS attacks on record: Internet companies Google (GOOG), Amazon (AMZN) and Cloudflare (NET) say they have weathered the internet's largest-known denial of service attack and are sounding the alarm over a new technique they warn could easily cause widespread disruption (Reuters)
  

• Kidney-dialysis stocks sink: Kidney-dialysis stocks like DaVita (DVA; -17%) sank Wednesday after Novo Nordisk (NVO) said a trial showed its blockbuster diabetes drug Ozempic could delay the progression of kidney disease (MarketWatch)
  

• Deal or no deal: Cash management firm Brink's Co (BCO) said that it was not in talks with NCR Corp (NCR) about a transaction, after Reuters initially reported that the two companies were in talks to create a new ATM business (Reuters)
  

• Disneyland gets a lot more expensive: Disney (DIS) is raising prices at its theme parks as the entertainment conglomerate looks to make more money from its parks division amid softness in its linear TV business and challenges in its shift to streaming (WSJ)

• How Blackbird wants to make eating at restaurants fun again (CoinSnacks)

• What Would Steve Jobs Have Thought of Our Industry Now? (Om)

• Ex-Americans are suing America to get back some of the money they paid to renounce their citizenship (Insider)

• Worst US bond selloff since 1787 marks end of free-money era (Bloomberg)

• What really took down Airbnb (The Atlantic)

• What do U.S. teens want to be when they grow up? (Statista)

• Nike reigns supreme among teen shoppers. Here are the other brands they love the most (CNBC)

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