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Friday, October 9, 2026

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You Understand Now, Why You Came This Way

Brazil’s October 25 runoff puts Bolsonaro’s likely victory at the center of a bullish regional-stock case; Golar LNG (GLNG) also reports fresh news.

GLNG $4.9B
WHAT ARE WE DOING? “Contrarians At The Gate” 3 clicks

From X

@KEDM_COM 2 clicks

KEDM.com on X

Qiagen $QGEN has had a new CEO (Jonathan Pratt) since Sept. 1. Let's see if he can bring some action. The company also recently confirmed it continues to evaluate strategic alternatives, with Goldman Sachs involved. There have been reports of takeover interest for a long time, with past reports linking Qiagen to Thermo Fisher, bioMérieux, and Bio-Rad. Qiagen is an interesting target given its leadership in nucleic acid prep, strong consumables-driven revenue, and growth areas like TB testing and digital PCR. The portfolio would fit well with major industry consolidators.
@convequity 3 clicks

Convequity on X

We exited $LITE at the start of 3Q26 and stayed out at the 4Q26 rebalance. Lumentum's exposure to AI optics is real, but it depends on design choices that are still open. 1. Lumentum is one of the suppliers of high-power lasers for external laser sources, where the laser sits in its own module and feeds light to the optics. Growth in AI optics lifts this business only as far as customers choose these designs. 2. Co-packaged optics (CPO) puts the optics in the same package as the chip. Some CPO designs keep external lasers, which suits Lumentum. Others move the light source closer to the package, or replace lasers with microLEDs, tiny LEDs used for short links. Wider use of these would cut demand for its lasers. 3. Laser and silicon-photonics technology built for LiDAR (laser-based sensing) is being adapted for data-center links, which could bring new competitors. We have added LiDAR exposure and will cover it in Part 2 or 3 of our 4Q26 rebalance series. 4. Optical circuit switching (OCS) connects fibers by steering light between them. Lumentum's MEMS switches use tiny movable mirrors and suit many ports, low loss and paths that stay in place for long periods. Designs that must change paths quickly and in smaller units are more likely to use silicon-photonics switches. MEMS should win a meaningful share, but probably not all of it. Lumentum keeps credible exposure to external lasers and OCS, but both depend on unsettled design choices. At the 4Q26 rebalance, that uncertainty was enough for us to stay out.

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TSOH Weekly Roundup (10/09/2026)

Paramount Skydance’s debt-heavy Warner Bros. Discovery acquisition, streaming bundle pricing and alcohol-industry diversification anchor…

WBD $78B
TSOH Investment Research

Boyz in the Hood

Robinhood’s AI agents, 24/7 equity trading and 10:1 crypto perpetual futures encourage higher retail trading velocity, leverage and…

HOOD $98B
WHAT ARE WE DOING? “Contrarians At The Gate”

Golar LNG q2’26 Operational Update

Golar LNG ordered a $2.45 billion fourth FLNG vessel, targeting 3.5MTPA of capacity and $400 million in annual EBITDA under a 20-year…

GLNG $4.9B
Monte Independent Investment Research

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