Walmart’s Evolution
Walmart says Medicare Maximum Fair Price rules will cut FY27 US comps by 125 basis points, while pharmacy margins and prescription volumes remain resilient.
Friday, August 21, 2026
Back to today 
From X
Laughing Water Capital on X
Think signal value for $NN is very high here. Ajit Pai, Brendan Carr’s mentor at the FCC, is Pres and CEO of CTIA. Execs from $VZ and $T are chair and vice chair. Unlikely they put Mariam on the board unless $NN future is bright. 💯% Pai knows what is happening behind FCC doors. https://t.co/4Jtm3aiAf9
Porter Collins on X
@JeffreyCherkin Not a bad purchase of $FTAI this time last year < $90! @MelissaLeeCNBC
Laughing Water Capital on X
Sounds like terrestrial GPS is being prioritized $NN https://t.co/EZoHuCydcB
Laughing Water Capital on X
$NN https://t.co/WSPZtvXkj1
Laughing Water Capital on X
Terrestrial backup to GPS is essential. $NN https://t.co/sCRxCPCldm
Connor Haley on X
@AndrewTakes @taobanker @CGSCapital @Compounding_K @AKWilk 1: NATL ATMs predicted to be more stable/improving than declining. We address this extensively in our report. 2: absolutely when business is growing rapidly on a per share basis. Look at $DBD which trades at a big premium despite growing slower.
Laughing Water Capital on X
In case you had any doubts on the case for terrestrial GPS. $NN https://t.co/js8mXHYTA6
Laughing Water Capital on X
@JonoJohnson8 @cfrischer1 Carr also references Cruz who first sponsored legislation calling for a terrestrial backup to GPS in 2017. As head of the Senate Commerce Committee, Cruz is effectively Carr’s boss. All tea leaves, but hard to think they’re not bullish $NN
Investor Letters
All letters- Palm Harbour Capital July 2026 082920 $946MVVVNF $1.7B
- Protean Funds July 2026 EVGGF $17BSTOR-B $1.7B
- Polaris Capital Management Second Quarter 2026 ENI $81BIX $42B
- First Eagle Investments second quarter 2026 032830 $42BIMO $60B
- Oakmark Funds 2Q 2026 006400 $31BIKTSF $12B
- Greenhaven Road Capital second quarter ANAB $1.6BBUR $873M
- RGA Investment Advisors Q2 2026 ADBE $99BADYEN $33B
- Royce Investment Partners Year-to-Date Through 6/30/26 ACA $7.2BADMA $2.1B
NBIS 2026-08-20 Nebius: The Market Is Arguing About The Wrong Number
Nebius posted 454% revenue growth and a 41% EBITDA margin, while Meta’s $27 billion agreement supports its AI infrastructure backlog.
The Quality Growth Investor 1 click
CCC Is in the Middle of the Wreckage
CCC, the dominant auto physical-damage claims estimator, connects 27 of the top 30 insurers with 31,000 repair shops as takeout rumors…
Aloe Aloe Aloe what 'ave VERRA then?
Verra Mobility's new seven-year Avis agreement replaces a customer worth over 10% of revenue on materially worse economics, exposing…
SA 2026-08-20 Seabridge Gold: Fairly Valued Now But Big Upside
Seabridge Gold's KSM gold-copper project could re-rate on a joint venture, 2027 feasibility study and infrastructure progress, with gold…
Redfern Research 
NCLH or her grandma Saga?
Norwegian Cruise Line’s $15 billion debt and 2026-27 capex delay deleveraging, despite fuel-efficient new ships and stronger projected 2028…
Airbnb Model Update (2026)
Airbnb shares have risen about 50% since October 2025, prompting a revised 2026 model and return assumptions at the current price.
PGY 2026-08-19 Pagaya Technologies: A Fast-Growing Industry Disruptor Trading At A P/E Of 6.6x
Pagaya Technologies reported Q2 2026 network volume of $3.54 billion, 19% revenue growth and 99% adjusted net-income growth, while trading…
Akim Guerreiro 
Jumia
Jumia’s January 2028 $7/$15 call spread risks $1.15 for up to $6.85 if cost cuts and marketplace growth deliver adjusted EBITDA and…
Shitcos, Griftcos, and alignment versus enrichment at $IREN
IREN awarded each co-CEO roughly 9 million RSUs, about 2.5% of shares and $400 million, in exchange for no further equity grants until…
$NU: is Nubank Capital One in 1994 or Capital One in 2006? | Vanshap Capital
Nubank's 140 million customers, 20% efficiency ratio and 30% ROE frame whether its high-teens P/E reflects a scalable fintech or a maturing…
DASH · long Doordash INC
DoorDash holds roughly 60% U.S. market share in on-demand restaurant logistics, underpinning a long thesis on its defensible delivery…
CRWV 2026-08-19 CoreWeave: The Execution Story Is Flashing A Strong Signal (Rating Upgrade)
CoreWeave’s Q2 converted backlog into sales, expanded margins and lifted operating leverage as active contracts topped half of its $104.2…
Future Stack Investment 
Why DoorDash’s Autonomous Strategy Beats Uber’s Hodgepodge
DoorDash’s integrated autonomous-delivery strategy contrasts with Uber’s 2026 divestment of Serve Robotics, its former delivery-robot…
Stock Trade Compilation Diez
E.W. Scripps, Team Internet, Monro, doValue and Inter & Co feature as special-situation trades involving mergers, asset sales, leverage and…
Will Hubspot go the way of the Dodo?
HubSpot trades near its 2020 share price despite quadrupled revenue and $750 million in free cash flow, with Breeze AI upside weighed…
$DNOW: the boring distributor that could double on 2029 numbers | Firebird Management
DNOW’s MRC Global merger targets $75 million of synergies, with a 2029 bull case of $30 to $32 per share driven by cash flow and rerating.
The AI Compute Squeeze
CoreWeave and Nebius cite AI compute shortages and higher-priced GPU renewals, but older-chip utilization and depreciation vary across…
Are Department Stores Finally Shortable?
Macy’s and Kohl’s face renewed short cases as their recent reratings ignore fading store-refresh gains, credit-card earnings exposure and…
[scuttleslops] ZTS, APO, FISV, TTD, RELY
Zoetis’s U.S. companion-animal revenue fell 6% as dermatology competition drove rebates and discounts, pushing full-year net pricing to…
The Impact of Autonomous Vehicles on Copart, A Timeline-Based Assessment - ($CPRT)
Copart faces a near-term lift from pricier AV repairs and total losses, but shrinking accident volumes could eventually force its…
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