SpaceX Disappoints, AI's Free Cash Flow Shrinks, Meta Struggles | The Weekly Wrap
Steve Eisman reviews SpaceX earnings, AI capital spending’s drag on free cash flow, Meta’s struggles, and the collapse of Situational Awareness hedge fund.
Friday, August 7, 2026
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Investor Letters
All letters- Upslope Capital Management Q2 2026 MICC $12B
- Vulcan Value Partners Q2 2026 BMI $3.8BEFX $19B
- Heartland Advisors 1Q26 ALGT $2.2BIIIV $397M
- Palm Valley Capital First Quarter 2026 CHRD $7.4BDOX $6.2B
- Biglari Holdings 2025 RACE $73B
- Massif Capital fourth quarter of 2025 EQNR $104BEQX $14B
- Pershing Square Holdings 2025 HHH $4BBN $85B
- Palm Valley Capital Fourth Quarter 2025 DPUKY $1.1BFLO $1.3B
[scuttleslops] BKNG, ABNB, SHOP, LPX, TREX, XYZ
Booking Holdings beat Q2 guidance as room nights grew 5%; connected trips, merchant payments and Genius loyalty strengthened direct…
DoorDash 2Q'26: Growth Beyond the Restaurant
DoorDash’s 2Q 2026 orders rose 27% and marketplace GOV grew 36%, with DashPass driving a slight acceleration in U.S. restaurant demand.
DEC-laration of independence
Diversified Energy cut $233 million of debt in 1H26, repurchased $93 million of stock and sold $273 million of land and assets while…
Coupang: 2Q26 Business Recap
Coupang’s product-commerce revenue rose 8% in constant currency as data-leak churn lingered, while promotions and underused logistics…
Spotify 2Q'26: Pressing the Monetization Lever
Spotify reached 300 million Premium subscribers in 2Q26 and is increasing free-service friction in emerging markets to lift conversion and…
Perimeter Solutions: 2Q26 Business Recap
Perimeter Solutions’ 2Q26 revenue rose 31%, while operating income fell 11% as USDA pricing and DLA delivery timing hurt Fire Safety; it…
Floor & Decor: 2Q26 Business Update
Floor & Decor’s same-store sales improved to minus 2%, while $45 million of tariff refunds lifted second-quarter gross profit and operating…
[scuttleslops] BLDR, RYAN, APG, GFL, FND
Builders FirstSource reported Q2 2026 sales down 9% to $3.9 billion as weak housing demand and aggressive competitor pricing cut EBITDA…
Vistance Networks (NASDAQ: VISN)
Vistance Networks plans a large post-Ruckus-sale dividend, leaving Aurora Networks valued below 4x guided EBITDA after $1.88 billion of…
[OTCM] Listings for the rest of us
OTC Markets gives smaller, distressed, and lightly disclosed companies a trading venue outside NYSE and Nasdaq, with lower listing barriers…
MIDD · long Middleby CORP
Middleby trades at about 11 times EBITDA, below its history and peers, as a sharper management focus is expected to address the commercial…
Infineon Technologies (IFX GY): Power Overwhelming
Infineon’s power semiconductors stand to benefit from AI data centers shifting to 800VDC power delivery, though its sharp rerating to…
Under The Hood, Universal Health Services - $UHS
Universal Health Services faces a $432 million–$480 million annual Medicaid supplemental-payment hit by 2032, offset by behavioral-health…
[scuttleslops] SPOT, UMG, TXN, SPGI, TRU, ADSK, MTCH, CSGP, DLTR
Spotify and Universal Music Group will offer licensed AI song covers and remixes as a Premium add-on, with artist opt-in and royalty…
The last Bristol Myers' blog post was wrong on the core thesis
Ivonescimab plus chemotherapy extended median overall survival by 4.2 months versus Tevimbra plus chemotherapy in HARMONI-6, challenging…
eDreams: Disproving the Bears and Regaining Credibility
EDreams cut FY26 Prime-member guidance to 600,000 after Ryanair blocks, while its subscription model lifted Prime to 7.25 million members…
A non-consensus thesis: the forthcoming demise of Bristol Myers Squibb.
Bristol Myers Squibb’s bear case centers on patent-cliff revenue losses, debt, and failed drug investment after $28.3 billion of 2019–23…
Adobe Deep Dive
Adobe trades at 14x earnings after a 65% decline, with AI, Canva and Figma threatening subscriptions, customer acquisition and…
Vidrala
Vidrala has grown from a Spanish glass-container maker into a multi-country packaging platform with expanding Latin American exposure.
ROAS to Riches
Entravision’s Smadex AdTech segment grew Q1 2026 revenue 204% and generated over $34 million of EBIT, becoming 78% of sales and the core…
Publications we follow
Every publication on this site, hand-picked.
Newsletters 91
- 310 Value’s Newsletter
- Absurdly Cheap Stocks
- Altay Capital - Mostly Value Investing
- AmsterdamStocks
- Aurelion Research
- Base Hit Investing
- Bearhold Research
- Bearstone
- Behind the Balance Sheet
- Best Anchor Stocks
- Bilbel's Substack
- Bison Insights
- Brevarthan Research
- Bristlemoon Capital
- Byron Street Research
- Calvin Blissett
- Cannibal Stocks
- Capital Employed
- Capitalist Letters
- Cassandra Unchained
- Citrini Research
- Cluseau Research
- D Invests
- Daniel Romero
- Deep Value Insights
- Doomberg
- Eagle Point Capital
- Easy Value
- Exploring with Alluvial Capital
- Fabricated Knowledge
- First Strike Research
- Flyover Stocks
- Global Outperformers
- Guardian Research
- Hated Moats
- Healthy Stock Picks
- HFI Research
- Hidden Gems Investing
- Hidden Rock Capital's Newsletter
- Ian’s Insider Corner
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- Inglenook Growth
- Invariant
- Investing 501
- Irrational Analysis
- John Hempton's Newsletter
- Kairos Research
- Kakashii's Materials
- Key Context by Tae Kim
- Latticework by MOI Global
- Lewistown Capital
- Maius Partners
- MBI Deep Dives
- Mispriced Assets
- Modern Value Investing
- Monte Independent Investment Research
- Multibagger Monitor
- Nat Stewart - Stock Picking Newsletter
- Net Interest
- Nongaap Investing
- Nugget Capital Partner's Substack
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- Open Insights
- PETITION
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- Rebound Capital
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- scuttleblurb
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- Sleep Well Investments
- smallvalue.
- Speedwell Memos
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- Sunday's Idea Brunch
- Sylence Capital
- The Curious Compounder
- The Mikro Kap
- The Oak Bloke
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- Treasure Hunting
- Triple S Special Situations Investing
- TSOH Investment Research
- Underlying Value
- Value Don't Lie
- XIX Value
- Yet Another Value Blog
Blogs 12
Seeking Alpha 29 of 159
Andres Veurink
Bay Area Ideas
Capital Connoisseur
Dhierin Bechai
Equity Eagle
Eudaemon Research
High Alpha Professor
Investor Overview
IWA Research
Jaden Mealy
LL Insights
Marc Gerstein
Mike Zaccardi, CFA, CMT
Miletus Research
Myriam Alvarez
Petri Dish Reports
Philip Wang
Prakhar Agarwal, CFA
PV Research
Robert J. Lake
Sam Mancini
Sharon McArd
SiliconBytes Insights
Simple Investment Ideas
Steven Fiorillo
The Bullionaire
The Curious Analyst
The Undercovered Dozen
Value Capital Research
X accounts we follow
Every account on this site, hand-picked.
⚽️📡
💥PETITION💥
A Capital
AltayCap
Bank Reg Blog
Barbarian Capital
BDC
Bill Ackman
Broken Moats
BuccoCapital Bloke
catechwilliams
Charles Frischer
Chris Camillo
Clark Square Capital
Cluseau Investments
Colin King
Connor Haley
Conor Maguire | Value Situations
Convequity
David Orr
Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
Evan Tindell
Farmer
Fierce_beast
Fred Liu
Gavin Baker
Ian Bezek
Idea Brunch
JabroniCoin.USD
John_Hempton
junkbondinvestor
kab60
KEDM.com
Laughing Water Capital
Lee Roach
Little Owl Research
Maius
Maj Soueidan
marginofdanger
mavix
Mike
Mikro Kap David
Multiples Capital
Myles
Nat Stewart
Negligible Capital
Odd Diligence
Odd Lot Arbitrageur
PAA Research
Pernas Research
Porter Collins
Prepared Remarks
Psyop Capital
Raging Capital Ventures
Red Dog Capital
RiverRoadPartners
Rusholme Capital
Sahil Khetpal
SG
Tim Eriksen
Timyan Bank Alert
Todd Wenning
ToffCap
Trevor Scott
Voss Capital
Yaron Naymark
Investor letters we follow
- 1851 Capital
- Aikya Investment Management
- Akre Capital Management, LLC
- Alluvial Capital Management
- Alpinum Investment Management AG
- Ariel Investments
- Artisan Partners
- Askeladden Capital
- Asset Value Investors Ltd
- Baron Funds
- Berkshire Hathaway
- Biglari Holdings
- Bireme Capital
- Bristlemoon Capital
- Broyhill Asset Management
- Cantor Fitzgerald Asset Management
- Cedar Creek Partners
- Choice Equities
- Confluence Investment Management
- CrossingBridge Advisors
- Crossroads Capital, LLC
- Distillate Capital
- Dodge & Cox Stock Fund
- Donville Kent Asset Management Inc.
- FPA Crescent Fund
- First Eagle Investments
- Forager Funds Management
- Fred Alger Management, LLC
- Giverny Capital
- Grandeur Peak Global Advisors
- Greenhaven Road Capital
- GreensKeeper Asset Management
- Grey Owl Capital Management
- Halvio Capital
- Hayden Capital
- Heartland Advisors
- Hoisington Investment Management
- Horizon Kinetics
- Intrepid Capital
- Invenomic Capital Management
- Janus Henderson Investors
- Kaydan Wealth Management
- Kernow Asset Management
- LVS Advisory
- Laughing Water Capital
- Lindsell Train Limited
- Macro Ops
- Maran Capital Management
- Markel Group
- Massif Capital
- McIntyre Partnerships
- Merion Road Capital
- Myrmikan Capital, LLC
- O'Keefe Stevens Advisory
- Oakmark Funds
- Palm Harbour Capital
- Palm Valley Capital
- Patient Capital Management
- Pendelhaven Asset Management B.V.
- PenderFund Capital Management Ltd.
- Pershing Square Holdings
- Polaris Capital Management
- Polen Capital 5Perspectives Growth Opportunities
- Polen Capital U.S. Opportunistic High Yield
- Praetorian Capital
- Protean Funds
- RGA Investment Advisors
- Rowan Street Capital
- Royce Investment Partners
- Sequoia Fund
- Southeastern Asset Management
- Third Avenue Management
- Tweedy, Browne
- Upslope Capital Management
- Vulcan Value Partners
- Wedgewood Partners
- Weitz Investment Management
- White Falcon Capital Management
Sectors
Ordered by how often our editor reaches for them.
