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Tuesday, October 13, 2026

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Expert Call | Corning

Corning’s NVIDIA-backed 10x fiber expansion, enterprise connector demand and carrier capacity plans frame its optical communications outlook through 2030.

GLW $126B
P Equity Research 37 clicks

From X

@StableBread

Fajasy on X

BWX Technologies’ $BWXT commercial segment grew Q2 2026 revenue 72% to $302.5M, while its government segment grew just 2% to $601.3M. $BWXT reported Q2 2026 on August 3, and CEO Rex Geveden called it “another strong quarter characterized by excellent execution across the company”: → Revenue: $901.6M, up 18% y/y (9% organic). → Adjusted EBITDA: $155.5M, up 7%, a 17.2% margin vs. 19.1%. The government segment fell 5% to $126.5M, but grew 22.1% excluding a $29.4M one-time contract gain in Q2 2025, while the commercial segment more than doubled to $36.1M. → EPS: $0.97 GAAP (+14%) and $1.07 non-GAAP (+5%). → FCF: $115.0M, down 9%, as capex rose 27% to $41.4M. → Backlog: $8.4B, up 40% y/y, including $2.26B of government contracts not yet funded by Congress. Q2 bookings were $648.9M vs. $1,640.5M a year earlier, but over the past 12 months, new orders still ran 1.7x revenue. The 2026 guide now calls for $3.8B of revenue, $662-672M of adjusted EBITDA (a 17.5% margin), $4.70-4.80 of non-GAAP EPS, and $345-360M of FCF. In August, $BWXT also changed its guidance for both segments: 1) Government Operations: Lower revenue growth (high single digits, down from low teens) but a higher margin (20.5%, up from 19% at the start of 2026). CFO Mike Fitzgerald said on the Q2 call that high-purity depleted uranium (HPDU) costs are coming in under budget. Most of the segment’s contracts pay $BWXT its costs plus a fee, and the fee goes up when $BWXT spends less than the target cost, so lower HPDU costs mean less revenue but more profit. 2) Commercial Operations: Higher revenue growth (45%, up from 30%), with Precision Components Group (PCG), acquired July 1, adding slightly more than half of the increase, but a lower margin (13%, down from 14%) as $BWXT spends on U.S. capacity and new hires.

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Vicor Update, Part Two

Vicor uses ITC exclusion-order cases to license power-module patents, with published royalty multipliers rising from 1.0x before filing to…

VICR $12B
CV's Substack 3 clicks

Expert Call | Nebius

Nebius’s 1 GW annual active-capacity target from 2027 is realistic, according to a former product manager, with greenfield data centers…

NBIS $56B
P Equity Research 4 clicks

Dell's Tailwinds

Dell booked $131.7B of AI server orders in four quarters and held a $95B backlog as enterprise AI demand accelerates.

DELL $367B
Chipstrat 4 clicks

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
AMADF · long

Amadeus It Group SA

Amadeus IT Group turns long after shares fell more than 20% since a November short call.

AMADF $25B
Value Investors Club 1 click

LQDA: finer powder, higher doses

Liquidia’s Yutrepia sales reached $170.4 million in Q2 2026, while a patent ruling threatens its PH-ILD label but leaves PAH sales and a…

UTHR $24B
Trade Ideas Flow 4 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

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