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Monday, October 12, 2026

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@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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A Month with Muse

Meta’s Muse automated website fixes and design changes for a solo publisher, illustrating how $20-per-month AI agents can reduce…

META $1.9T
MBI Deep Dives 2 clicks

“Is Ralph Lauren Still Relevant?”

Ralph Lauren’s 2017 CEO change put Patrice Louvet in charge of reversing nine quarters of same-store sales declines and restoring the…

RL $22B
TSOH Investment Research 1 click
DB · long

Deutsche Bank AG

Deutsche Bank trades at 1.0x tangible book, with projected ROTCE above 13% and a favorable setup ahead of earnings.

DB $63B
Value Investors Club

Deep Dive: Inter & Co

Inter & Co, Brazil’s second-largest neobank, grew over 20% with controlled delinquencies and 15% book-value compounding while trading at…

INTR $3.3B
Capitalist Letters 7 clicks

A temporary glitch?

Coupang’s November 2025 cybersecurity breach tests whether a selloff is temporary despite its 28% Korean e-commerce share, 14 million-plus…

CPNG $27B
Asian Century Stocks 9 clicks

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…

GLNG $4.7B
WHAT ARE WE DOING? “Contrarians At The Gate” 3 clicks

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