Big Tech Off-Balance Sheet Concerns
Big Tech’s $3 trillion AI commitments are disclosed and largely long-dated, with nearly 60% of Amazon’s $650 billion commitments falling after 2030.
Tuesday, August 25, 2026
From X
Maj Soueidan on X
InfoArbMonitor’s Delta Sheets flag ASYS and PAYS as future-value candidates, while NNBR has the strongest momentum after massive dilution.
Maj Soueidan on X
Broadwind’s industrial EBITDA margin is expected to normalize from 19% toward its historical 11% to 15%, while backlog extends to 2028 and profitability depends on industrial growth and gearing-margin expansion.
Maj Soueidan on X
Broadwind sold its wind assets to IES Holdings and is focusing on power-generation equipment and supply chain operations, where EBITDA margins reached 19% despite continued consolidated losses.
Maj Soueidan on X
Microcap earnings calls include MDP.TO's drug momentum, TISI's turnaround and activist campaign, BWEN's turbine pulse, and OPXS's backlog trends.
Maj Soueidan on X
HireQuest, HQI, reported a business recovery that strengthened through Q2 despite a difficult staffing market. MPAA's Chapter 11 asset purchase remains a catalyst.
Maj Soueidan on X
SIFCO Industries reported sales up 18%, a higher backlog and adjusted EPS of 51 cents, while management’s EBITDA includes a one-time gain.
Maj Soueidan on X
SIFCO Industries faces a predicted 35% pullback despite its best quarter, with the bearish case resting on detailed filings rather than headlines.
Maj Soueidan on X
Motorcar Parts of America reported a weak Q1 but reaffirmed guidance, with benefits from a competitor bankruptcy and share repurchases in focus.
Investor Letters
All letters
SBLK 2026-08-25 Star Bulk Carriers: You Don't Need The Record Quarter
Kevin Avroutskii WLDN 2026-08-25 Willdan Group: The Q2 Beat-And-Raise Confirms The Inflection
Miletus Research 
Stripe’s “Singularity” and the Divergence from Adyen
Stripe’s net revenue rose 41% in 1H 2026 versus Adyen’s 21% FX-adjusted growth, fueled by AI-native startups and acquisitions including…
The Junk (Mail) Merger Arb
Star Equity’s $5 per-share Harte-Hanks acquisition offers $2.50 cash plus 0.25 STRRP per share after proration, against a $2 break price.
Core Memory
Airbnb Experiences faces a supply bottleneck from manual approvals, while a farm host raised her price from $15 to $25 after stronger…
$ELAL: El Al is a wartime monopoly at 2x EBITDA. Is that a trap? | ASB Partners
El Al trades near 2x EBITDA after wartime near-monopoly profits, with $1.3 billion of net cash and owned aircraft weighed against…
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…
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…
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…
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