BUSINESS

Ethereum’s co-founder wants developers to stop forcing blockchain into every problem and start treating it as a reliable, shared memory for the digital world.

Oil prices spiked again on Thursday morning after Iran ramped up its strikes on infrastructure in the Gulf.

Dollar General’s stock falls after a quarterly earnings beat, as the outlook for a key sales metric disappointed.

A week after backing away from buying Warner Bros. Discovery, Netflix decides to buy rather than build AI tools for filmmakers.

The price cuts come as the retail giant is trying to win back shoppers who have shifted to discount competitors.

Learn how emotional maturity drives smarter decisions, reduces friction and scales your business without breaking under the pressure of growth.

Boeing (BA) reportedly landed a deal worth up to $289 million to supply Israel with as many as 5,000 smart bombs, putting its defense business back in focus.The bigger market takeaway is timing: deliveries reportedly are not expected to start for about 36 months, making this look more like a backlog story than a near-term earnings catalyst.Boeing’s defense segment generated $27.2 billion in 2025 revenue and ended the year with a record $84.8 billion backlog, while an earlier U.S. notice also showed Israel seeking 2,166 Small Diameter Bombs in a broader munitions package.Boeing (BA) is back in the defense headlines after reports said the company signed a deal to supply Israel with up to 5,000 smart bombs worth about $289 million. The more important detail is that deliveries are not expected to begin for about 36 months, suggesting they are unrelated to the current US and Israeli airstrikes on Iran.For a company of Boeing’s size, a contract of this scale is meaningful, but it does not do much to change the near-term earnings picture. It looks more like another sign that Boeing’s munitions business is still winning demand inside a defense segment that ended 2025 with record backlog.A $289 million defense headline with a longer runwayThe deal matters more for order visibility than for any immediate financial lift. Boeing reported $89.5 billion in total revenue for 2025, including $27.2 billion from Defense, Space & Security. That segment finished the year with a record $85 billion backlog, and more than a quarter of it came from customers outside the U.S.That is why this reads more like a pipeline headline than a quarter-moving catalyst. It adds to the case that Boeing’s defense business still has durable demand, even as the company’s stock remains more heavily tied to the much larger commercial-airplane recovery story.What Boeing’s Small Diameter Bomb tells investorsThe reported weapon is Boeing’s Small Diameter Bomb, or SDB, a precision-guided munition designed to strike fixed targets from standoff range. Boeing says the system uses INS/GPS guidance, has a range greater than 60 nautical miles, and allows aircraft to carry four weapons on a single carriage.More on BoeingWhy are there only 30 stocks in the Dow? The case for (& against) a narrow indexAfter Iran strike, travelers spent 16 hours on a flight that went nowhereBoeing stock beat masks supply chain nightmareThat helps explain why the reported order matters beyond the headline. It points to continued demand for a precision-strike product Boeing already markets as a lower-cost, high-loadout system that can be used in defended environments. In other words, this is not just another geopolitical headline attached to Boeing. It reinforces that the company still has a meaningful munitions franchise inside its defense portfolio.Boeing by the numbersEmployees: more than 170,000 people across the United States and in more than 65 countries2025 revenue: $89.463 billion2025 Defense, Space & Security revenue: $27.234 billionDefense backlog at year-end 2025: about $85 billionThe policy angle still mattersThis reported agreement also lands in a defense-export channel that already has plenty of scrutiny around it. In February 2025, U.S. officials approved a possible sale to Israel that included 2,166 GBU-39/B Small Diameter Bombs as part of a much larger munitions package.That does not mean the reported $289 million agreement is the same transaction. But it does show that Boeing’s direct-attack weapons are already part of an active supply pipeline tied to Israel, which adds a second layer to the investment story. These deals can support backlog and long-term defense demand, but they can also bring policy risk and political attention that create headline volatility around the stock.What matters most for BA stockFor Boeing investors, the clearest read-through is straightforward. The reported deal is large enough to reinforce demand for Boeing’s defense portfolio, but the delivery schedule makes it more useful as a backlog signal than as a near-term earnings driver.That is what keeps this from being a simple “defense win equals stock catalyst” story. Boeing’s defense unit benefits from another visible order, but the real market question is how much those wins matter relative to the company’s broader commercial recovery. Right now, this looks more like support for the long-term defense case than a reason to rethink the next few quarters.Related: Morgan Stanley resets bets on defense stocks amid war

First Brands Group’s collapse at the end of 2025 marked a grim reality for the automotive parts powerhouse, especially as bankruptcy filings proceed and advisors scramble to determine the priority of lenders.​First Brands Group, with a major presence in Cleveland, Ohio, is an automotive specialty company that caters to and develops auto parts including brakes, wipers, filters, and lights, under well-known automotive brands.​First Brands acquired iconic brands such as Autolite, Raybestos, and Fram before the company’s plunge intoChapter 11 bankruptcy revealed a complex web of deception that had eluded auditors for years.​“Shadow lending,” which Investopedia defines as a specific, overlapping invoice factoring arrangement, allowed executives to mask the company’s weakness while reaffirming its financial health.The complexity of First Brands’ layered capitalA capital structure in the First Brands debacle was built for a more aggressive yield, Neuberger Berman notes, as the company used a layered approach to financing rather than facilities at traditional banks.​With asset-based lending (ABL) lines and standard term loans, First Brands had two simultaneous factoring programs, according to the American Bar Association.Related: Auto parts maker First Brands expands layoffs across U.S.​In these arrangements, the company sold its accounts receivable to third parties at a discount, per Trade Treasury Payments. Why? Liquidity.Within distressed entities, multiple creditors, includingfintech platforms and private credit funds, are all staking claims to the same customer invoices. As a result, the bankruptcy structure becomes a nightmare.When borrowers pledge the same asset to multiple creditors under varying agreements, as in the case with First Brands, the priority of these claims within the classic debt waterfall becomes tedious and difficult to verify, leaving lenders in tense situations.CategoryAffiliated Entities (Debtors)Core EntitiesFirst Brands Group, Autolite FRAM Group, Trico ProductsManufacturing/OpsDalton Corporation, Cardone Industries, Brake Parts Inc., UCI InternationalHolding/Investment VehiclesGlobal Assets LLC, Carnaby Capital, Broad Street Financial, Heatherton HoldingsInventory/Finance SPVsStarlight Inventory, Patterson Inventory, Viper AcquisitionFirst Brands fallout sparks debate about risk assessmentsThe First Brands collapse raises an important question among private credit and non-bank lenders regarding risk assessments.”Rigorous lender due diligence” is essential for deals with multiple layers within their financing agreements, emphasized Octus Head of Special Situations Jared Muroff.The scrutiny matters even more, Muroff says, for entities controlled by families or a single owner, which often lack the institutional compliance that keeps sponsor-backed borrowers at bay.However, it seems that what happened at First Brands is atypical.Now let’s dissect First Brands’ very own disclosures.​According to the company’s 10-K, the company identifies three prongs of its debt obligations.Operational cash flow (the cash cow): First Brands admits its ability to pay its debtors depends on future financial performance, categorizing it as subject to factors “beyond our control.” In accounting terms, if operations miss their projections, it will be difficult for them to restructure their debt obligations.Capital markets dependency: First Brands relies on refinancing, which, in the distressed-debt world, leaves it vulnerable to interest-rate volatility and credit risk.Covenant triggers: Its ability to borrow more cash under the loan agreement depends on the covenant’s compliance. So covenants allow lenders, such as banks, to basically stop providing liquidity before a company like First Brands (the borrower) runs out of cash.Alvarez & Marsal, First Brands’ primary financial advisor, has worked to untangle its debt waterfall and undertake restructuring, but the impact has led to many layoffs as facilities in Ohio continue to shut down.Related: Bankrupt auto parts giant cuts 1,267 jobs

Beer has been the alcoholic beverage of choice among U.S. drinkers every year since 1992, except in 2005 when wine surpassed beer, with 39% of drinkers preferring wine, 36% choosing beer, and only 21 naming liquor as their preference, according to a Gallup poll.That data should be good news for the craft beer industry, but it has instead faced a craft beer apocalypse over the last two years.Olfactory Brewing victim of downturnSan Francisco’s Olfactory Brewing has become one of the victims of the craft beer downturn.Alcohol consumption in the U.S., unfortunately, hit a record low in 2025, according to the Gallup poll, with only 54% of Americans reporting that they drink alcohol. Consumption had fallen from 62% of adults in 2023 to 58% in 2024, before falling to a record low last year.Falling consumption rates have been a major problem for craft breweries in the last two years, leading to brewery closures and bankruptcies.

Olfactory Brewing won a gold medal at the Great American Beer Festival in 2024.Shutterstock

Olfactory Brewing files Chapter 7 Award-winning craft beer brand Olfactory Brewing filed for Chapter 7 bankruptcy liquidation after closing its San Francisco brewery in December and Berkeley, Calif., taproom in February.The craft brewery parent, Olfactory Inc., filed its petition in the U.S. Bankruptcy Court for the Northern District of California on March 4, listing up to $100,000 in assets and $100,000 to $1 million in liabilities in its petition, according to Bankruptcy Observer.Olfactory Brewing’s brewhouse opened in San Francisco’s Dogpatch neighborhood, about nine blocks from the San Francisco Giants’ stadium, in November 2022 and expanded in 2024 with the opening of a Berkeley taproom.Olfactory Brewing won a gold medalThe craft brewery achieved industry success quickly, as its Proverbial Fork beer won a gold medal in the Great American Beer Festival’s Mixed-Culture Brett Beer category in 2024.Unsustainable costs, however, forced the craft brewery to shut down both locations, according to social media posts.Among the high costs of doing business were the increased prices of ingredients and materials that grew with inflation.“Raw material costs have emerged as a significant constraint in the North American craft beer market, with substantial increases in the prices of essential ingredients,” according to a 2026 North American Craft Beer Market Report by Mordor Intelligence.“The impact of these cost increases has been particularly severe on production economics, forcing breweries to revise their pricing strategies and operational models,” the report said.Brewer had unsustainable costs”Friends…Olfactory Dogpatch is faced with unsustainable operating costs. We have failed to negotiate a path forward and we are now out of options,” the brewery posted on Facebook on Dec. 11.”We sadly share that Sunday (December) 14th will be our last in Dogpatch,” the message said. “Please come down this weekend and have a beer with Phil. There will be a lot of sad cowboy tunes. Thank you for supporting this small dream.”On its final day in San Francisco in December, the brewery reminded customers that its Berkeley location was still operating at the time.”Also, because many have asked, Olfactory Berkeley will still be open past today. So, it’s not goodbye forever. But it’s so long honey babe Dogpatch. And we bid you goodnight, goodnight, goodnight,” the message said.Unfortunately, it would become goodbye forever about two months later.Craft brewery closes its last locationThe Berkeley location closed a day or so before Feb. 26, 2026, according to Berkeley Eats, which was the first to report the closing of the East Bay location. The craft brewery’s website has been disabled, though some Facebook posts from the San Francisco operation remain.The plummeting alcohol consumption rate is a major concern for the beer industry, as well as the wine and liquor sectors. The previous low level of adult alcohol drinkers had been a one-time low of 55% in 1955. The highest percentage of adult alcohol consumption in the U.S. was 71% of adults, which was recorded over three straight years from 1976 through 1978, according to Gallup.Related: Beloved pizza chain files 4th Chapter 11 bankruptcy in a year

Philo is going back to its roots with a change to its subscription menu.

The streaming service made its name in the live TV streaming industry as a value option for people who don’t need access to live sports or news.

And after a few price hikes in recent years while Philo was building out its bundling options, they’ve decided to do a bit of course correction with a new subscription strategy.

Philo recently announced that it will be offering three tiers of its service moving forward:

Free

Essential ($25 per month)

Bundle+ ($33 per month)

“Today’s streaming audience is diverse,” Philo said via press release. “Viewing preferences, budgets, and expectations vary. Some customers want streamlined live TV at the best possible price. Others want a more expansive entertainment bundle that includes premium apps under one roof. By offering both Essential and Bundle+, Philo empowers customers to choose the package that makes sense for them – with seamless upgrades available at any time.”

All three options are live now for customers to choose. Let’s take a look at what each subscription level offers.

Understanding Philo’s New 3-Tiered Subscription Approach

Upon its 2017 launch, Philo’s mission was clear: Offer an affordable alternative to “full service” live TV streaming services by providing some of the best movie and entertainment channels for a fraction of the price of a YouTube TV or DIRECTV.

This was possible because Philo skipped paying expensive carriage fees for live sports and news channels like ESPN or CNN.

But in an effort to bring in more customers, Philo began to add to its subscription in recent years by doubling the number of channels and bundling video streaming services like AMC+ and discovery+ to its service.

This was still a good value if you wanted all of this content, but it pushed subscription costs above $30 per month. That was more than double the original subscription cost and a tough pill to swallow for streamers who didn’t have much interest in the added services.

So, Philo is offering those customers a chance to return to what they liked by reintroducing a $25 price point for its live channels via the Essential package.

But it’s not ditching the bundling. You still can enjoy a great discount on other services by paying $33 per month for the Bundle+ package.

Here’s how it breaks down:

Philo Free

Did you know that you can count Philo among the many free streaming TV (FAST) services that money expert Clark Howard loves so much?

Philo competes with fellow paid live TV streamers (DIRECTV and Sling TV) in the free TV space alongside brands like Tubi TV and Pluto TV.

This is a shrewd marketing strategy to get you “in the door” and familiar with their platform in case you decide to become a paid tier customer along the way.

We have more information about Philo’s free service here, but here are the quick notes you need to know:

Free access to more than 120 FAST channels

Unlimited DVR for 30 days

No credit card required

Philo Essential

This subscription tier is what many people would call “original” Philo. It has all the great movie and entertainment channels you’ve come to expect at “retro” pricing.

The key specs include:

$25 per month

More than 70 live channels, including all the previously available options

More than 120 free (FAST) channels

More than 80,000 movies and TV shows on demand

Unlimited DVR with one-year storage

7-day free trial for new customers

Philo Bundle+

This is Philo’s premium tier that includes multiple video streaming subscriptions, along with everything you’d enjoy on the Essentials tier.

At just $8 per month more than Essential, you’ll get three streaming subscriptions that could be considered well worth the cost. After all, an HBO Max subscription on its own starts at $11 per month.

Here’s a breakdown of what you’re getting:

$33 per month

Everything listed above for the Essential package, except for the free trial

HBO Max (Basic with ads)

AMC+

discovery+

Are you a Philo customer? Are you happy with the return to a $25 per month plan? Let us know your thoughts in the Clark.com community.
The post Philo Brings Back Cheaper Streaming TV Option in New Subscription Tiers appeared first on Clark Howard.