FTRE 2026-08-30 Fortrea Holdings: The Turnaround Is Showing Up In Earnings Before Revenue
Manimala Misra 4 clicksSunday, August 30, 2026
FTRE 2026-08-30 Manimala Misra 4 clicks 35h ago MSFT $3.8T Microsoft: A High-Quality AI Name That Is No Longer Misunderstood
Vinay Utham, CFA 3 clicks 37h ago PAHC $1.5B Phibro Animal Health: Zoetis Integrated And Better Cash Flow Ahead
Myriam Alvarez 5 clicksFrom X
Ian Bezek on X
@taobanker So they can reissue them at fire sale prices in the future to avoid bankruptcy. See American Airlines, circa 2015. $AAL https://t.co/mEfrPFACcY
marginofdanger on X
@leevalueroach $BWEL
David Orr on X
It's these types of ads that $GOOG Google won't be able to get away with long term anymore. This always degraded the user experience. Which was fine when they were a monopoly. But they are not a monopoly anymore. How much will this hurt their revenue? https://t.co/i07ww09r4x
Chris Camillo on X
@ryanTesling @elliotrades worry isn’t something i do often. a rate hike is a known risk investors won’t like short term, but it changes nothing about my larger $AMZN thesis.
Ian Bezek on X
@davey_juice @ThainRos $EWZ might go lower. I don't have a strong opinion on where big components like Vale and Petrobras go, could be down more. I think $INTR and $NU will keep growing fast enough to offset macro jitters.
Chris Camillo on X
@elliotrades $AMZN
Ian Bezek on X
@davey_juice @ThainRos I own a lot of $NU and $INTR but think Lula is going to win, so that's not ideal. Flavio polls look a little better, but he's still a bad candidate. Colombia only went to Abelardo by 1 pt. Lula is incumbent, more popular than Petro, and their electorate is more leftist.
Investor Letters
All letters- Palm Harbour Capital July 2026 064850 $136M
- Protean Funds July 2026 DVYSR $105M
- Alluvial Capital Management Second Quarter 2026 ZEG $5B
- Hayden Capital Q2 2026 AMZN $2.8T
- Royce Investment Partners Year-to-Date Through 6/30/26 AAP $2.6B
- Intrepid Capital 2Q26 GOOGL $4.2T
- Polaris Capital Management Second Quarter 2026 ENI $80B
- First Eagle Investments second quarter 2026 032830 $45B
Veeva 2Q’26: “SaaSpocalypse” Cancelled
Veeva beat its $905 million revenue guide with $928 million, up 17.6%, while subscription growth accelerated and GAAP EBIT margin reached…
Microsoft ($MSFT) - Deep Dive
Microsoft’s AI data-center buildout lifted annual CapEx from $5.5 billion in FY2014 to $115.9 billion in FY2026, resetting free-cash-flow…
Meta Buys Away its Distraction at Minimal Cost
Meta’s $18 billion teen-addiction settlement makes $5.3 billion contingent on YouTube and TikTok adopting matching restrictions, while…
Making sense of Sandisk’s long-term financial model
Sandisk’s FY28-FY30 model relies on long-term NAND agreements holding near-80% gross-margin floors despite pricing 26-28% below current…
Late August 2026 Random Ramblings
Higher rates could compress equity multiples and raise AI data center lease costs, while UWMC and Cogent raise questions about CEO-driven…
The Verra Sneerer (NASDAQ:VRRM)
Verra Mobility renewed Hertz tolling management for five years. AutoKinex lets rental customers buy tolling, fuel and protection products…
Nvidia Climbing the Wall of Worries
Nvidia guided FY2028 revenue toward $700 billion, roughly 70% growth, while supply constraints and neocloud demand face concerns over…
Domo (Arigato), for this potential multi-bagger options trade
Domo’s $400 million sale to Progress would leave a cash-rich public shell with $900 million of NOLs; January 2028 $5 calls cost 22 cents.
[scuttleslops] AI Data Center Economics, ADI, INTU, IDXX
AWS AI campuses cost $40–$45 billion per gigawatt, with Trainium 3 expected to lift compute per megawatt and improve infrastructure returns.
$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 $1.3 billion of net cash and owned aircraft weighed against…
The Strategic Value of eDreams
EDreams’ Prime travel subscription model makes the €3.6 billion European OTA a potential Uber, Airbnb or Amazon acquisition target.
Under the Hood - Adobe Inc. ($ADBE)
Adobe generates 96% of revenue from subscriptions and converts over 40% into free cash flow, but generative AI tests whether Creative…
Under the Hood - Tractor Supply ($TSCO)
Tractor Supply’s 2,602-store rural retail network supported 30+ years of growth.
Under The Hood - Sprouts Farmers Market, Inc.
Sprouts Farmers Market’s 483-store fresh-food format combines dedicated distribution, curated assortments and long-built site selection,…
Under The Hood, Wingstop Inc. ($WING)
Wingstop generates most of its $697 million revenue from franchise royalties across a 3,153-restaurant, 98%-franchised system while…
Under The Hood - Rollins ($ROL)
Rollins ($ROL) pairs automatically renewing pest-control contracts with route density and family-business acquisitions, producing 24…
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…
Under The Hood: Domino's Pizza - $DPZ
Domino’s 99%-franchised model converts global retail sales into royalties and supply-chain revenue, but $4.8 billion of debt and mature…
Under The Hood: Ulta Beauty, Inc. ($ULTA)
Ulta Beauty’s 46 million-member loyalty model drove strong historical cash flow, but earnings have stalled since fiscal 2022 as SG&A rose;…
Under The Hood, HCA Healthcare - $HCA
HCA Healthcare generated $75.6 billion of 2025 revenue and an 18.9% ROIC, pairing hospital-market scale with expanding margins and lower…
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