Friday, October 2, 2026

EXCLUSIVE: Lennar’s Big New Customer Is Its Own Spinoff, Millrose

Lennar is selling homes to former spinoff Millrose, whose revenue largely comes from Lennar and whose largest voting shareholder is Lennar’s CEO.

LEN $20B

Hunterbrook Oct 2 2 clicks

Oct 2 NKE $53B

Nike: The Defense Holds, the Offense Is Unproven

Latticework by MOI Global 1 click

Oct 2 NKE $53B

Nike, Part Two: The Deep Dive

Latticework by MOI Global

From X

@MaiusPartners 41h ago 1 click

Maius on X

Some $PSIX thoughts off the recent 8-K: The banking syndicate lifted committed capacity from $135m to $220m (+$85m), cut the SOFR margin from +2.60% to +1.80%, and pushed maturity from July 2027 to September 2029 (~26 months). Credit committees are structurally risk-averse. More exposure, less spread, and longer tenor only clears if they like the repayment case. So what are they underwriting that most equity investors still won’t touch? Two things the disclosures imply: 1) Weichai’s North American strategy is locked in. Change-of-control remains tied to Weichai keeping board control and ≥40% ownership (same economic threshold as before). The extension removes left-tail risk that Weichai pursues a different go-to-market path. 2) The extra capacity isn’t for today’s balance sheet. Net debt was essentially zero at Q2’26 (cash ~$70m, debt ~$73m). The new investor materials flag Prime Power as a deliverable for the first time—ranges that overlap $INIO’s data-center gas engines, a segment where $INIO recently highlighted as an area "Chinese players have historically struggled to break in" and hence command "100% market share in several datacenter power ranges". As Bezos put it: your margin is my opportunity. Have a great weekend, everybody!

@ACapitalLP 43h ago 2 clicks

A Capital on X

@GuptaSach1988 I was thinking ~0.55 $SPCX shares short per $ECHO share long, roughly the tax-adjusted look-through ratio...

@leevalueroach 46h ago 2 clicks

Lee Roach on X

Ryan Cohen just bought another $17 million of $GME. Wall Street is completely unaware and brain dead here. https://t.co/sy5wCrmcKN

@irbezek Oct 2

Ian Bezek on X

@aurelius28 I think $CIB is worth about $100 so you're hoping for overshoot of fair value if you buy it here. I much prefer its smaller and much less liquid peer $AVAL as the "catch-up" trade.

@ACapitalLP Oct 2 1 click

A Capital on X

@snorlax_uw $GFL

@ACapitalLP Oct 2

A Capital on X

Long $ECHO / Short $SPCX looks interesting here…

@finphysnerd Oct 2

Myles on X

$TLT negative on the day, $RSP and $IWM retracing their big up moves. This market is wild.

@DeepSailCapital Oct 2 1 click

Deep Sail Capital on X

On a relative basis verse AI buildout peers $VRT has come in a lot over the last 6 months. 23x NTM EBITDA vs almost 40x at the peak. Part of that is 6 months of roll forward but still starting to get back to a reasonable valuation.

Nike, Part One: The Story

Nike grew from a $1,000 shoe-distribution venture in 1964 into the largest sports brand, using athlete endorsements, product innovation and…

NKE $53B

Latticework by MOI Global Oct 2 1 click

Boeing F/A-XX Win: A Surprise Blow For Northrop

Boeing won the $20 billion Navy F/A-XX contract after securing the Air Force F-47, concentrating U.S.

NOC $69B

Dhierin Bechai Oct 2

Rocket Lab (NASDAQ: RKLB) Stock Rating: Accumulate After Q2 FY12/26 Earnings

Rocket Lab reported Q2 revenue up 62% to $234.1 million and backlog up 137% to $2.36 billion, while operating losses and cash burn…

RKLB $42B

Cestrian Capital Research Oct 2 1 click

Twilio (NYSE: TWLO) Stock Rating: Hold After Q2 FY12/26 Earnings - Distribute Below $260

Twilio posted Q2 revenue of $1.50 billion, up 22%, and guided 16% Q3 growth; the note rates TWLO Hold at $305, with a $260 risk line.

TWLO $45B

Cestrian Capital Research Oct 1 1 click

Regeneron And Sanofi Announce A Win-Win Collaboration Expansion

Regeneron and Sanofi expanded their antibody partnership, giving REGN $1 billion upfront, up to $7 billion in milestones and a 50:50 global…

REGN $76BSNY $99B

ONeil Trader Oct 1

Why Muse May Never Need Ads

Muse could sidestep ads by becoming a neutral commerce agent, while DoorDash and Airbnb build proprietary agents that steer users toward…

DASH $81BABNB $94B

MBI Deep Dives Oct 1

Chipotle: Takeover Talk Aside, The Margin Math Is Why I Still Say Buy

Chipotle's Q2 revenue rose 9.3% as traffic and market share grew; the case rests on pricing catching inflation to restore margins.

CMG $41B

The Alpha Analyst Oct 1

Autodesk (NASDAQ: ADSK) Stock Rating: Accumulate After Q2 FY1/27 Earnings - New Rating Bands, Stop And Price Targets Inside

Autodesk reported Q2 revenue growth of 16% to $2.05 billion, while RPO growth slowed to 2%; FY2027 guidance calls for $8.30 billion to…

ADSK $44B

Cestrian Capital Research Oct 1

[ROL – Rollins] The exterminator’s dilemma

Rollins’ shares have fallen more than 50% from their peak, resetting valuation as route density, reliable service and pricing support…

ROL $14B

scuttleblurb Oct 1

Deckers (DECK): From Clown Shoes To Compounder

Deckers built HOKA into a brand nearing UGG’s scale, with HOKA revenue up about fivefold since FY21.

DECK $11B

TSOH Investment Research Oct 1 1 click

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…

DASH $81B

Value Investors Club May 22 1 click

Practical Semiconductor Optical Amplifiers (SOA)

Semiconductor optical amplifiers offer compact, low-cost gain for LiDAR, long-haul links and ultra-high-power co-packaged optics, trading…

LITE $94B

Irrational Analysis Jul 18

Nothing Beats a Jet2....investment?

Jet2’s £4.5bn A321neo fleet renewal will constrain free cash flow through 2032, despite strong package-holiday growth, cash reserves and…

RYAAY $28B

Brevarthan Research Jul 16

[scuttleslops] CDNS, SNPS, TREX, WISE, Class I Rails, China

Synopsys and Cadence retain EDA pricing power through entrenched design flows, foundry relationships and high switching costs; AI-driven…

SNPS $94B

scuttleblurb Jul 16 2 clicks

Thoughts on PayPal Buyout Offer

PayPal faces a $60.50-per-share buyout offer from Stripe and Advent, with a rejection or counteroffer above $80 viewed as more likely.

PYPL $45B

Hidden Rock Capital's Newsletter Jul 15

Rebound Watchlist: July 2026

Rebound Capital's July 2026 watchlist puts AeroVironment and Coinbase under review after UnitedHealth rose more than 70% from its low.

COIN $50B

Rebound Capital Jul 15

Airbnb’s Cost of Market Creation and Regulatory Survival

Airbnb spent 1.1% of 2025 GBV on field operations and policy as regulatory costs persisted; New York’s short-term-rental crackdown cut…

ABNB $94B

MBI Deep Dives Jul 15 3 clicks

New Position: Volatility Merchant

A digital market-infrastructure platform dominant in rates and expanding in credit trades at 22 times free cash flow, with 45%+ FCF margins…

TW $24B

Aurelion Research Jul 14

Artificial Bloom

Bloom Energy’s AI data-center fuel-cell growth plans face scrutiny over scandium supply, with Hunterbrook alleging China dependence and…

BE $82B

Doomberg Jul 14

In Conversation: Cerebras Systems (CBRS)

Cerebras Systems sells WSE-3 wafer-scale AI chips and cloud capacity, with cloud and services rising to 43% of revenue after an OpenAI…

CBRS $40B

Aurelion Research Jul 13 1 click

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