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Thursday, October 29, 2026

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Another Haircut with Avy the Barber

SoFi’s stock case hinges on interest rates, tangible book value and private-credit loan sales after its $1.5 billion equity offering.

SOFI $22B
WHAT ARE WE DOING? “Contrarians At The Gate” 3 clicks

From X

@StableBread

Fajasy on X

Nuclear should bring in $3.7B of the $3.8B of revenue BWX Technologies $BWXT expects in 2026. $BWXT builds nuclear reactors and their heavy components, manufactures nuclear fuel, then services reactors once they’re running. It reports two segments: → Government Operations (73% of 2025 segment revenue, $2,350.1M): Reactors and fuel for the Navy’s submarines and aircraft carriers, uranium processing for the government, microreactor programs, and stakes in the joint ventures running government nuclear sites (booked as equity income, not revenue). → Commercial Operations (27%, $853.1M): Steam generators (heat exchangers turning reactor heat into steam), reactor pressure vessels, fuel, and field services for power utilities, mostly in Ontario. Also Kinectrics (a Toronto-based nuclear engineering and testing firm acquired in 2025) and a medical isotope unit $BWXT is selling. Naval propulsion is the core, at “a little bit less than 1/2” of revenue, CEO Rex Geveden said at $BWXT’s Investor Day on September 29, 2026. Special materials (the government uranium business) makes up 15-20%, and commercial power ~30%. The U.S. government accounted for 68% of 2025 revenue, directly or through prime contractors, down from 76% in 2024 as the commercial side grew. Four large utilities accounted for another 17%, per the FY2025 10-K. What keeps the Navy from switching suppliers is licensing. Only two plants in the U.S. hold Nuclear Regulatory Commission (NRC) licenses to produce fuel from high-enriched uranium (HEU, enriched to 20% or more, which is what naval reactors run on). Both belong to $BWXT (Nuclear Fuel Services in Erwin, Tennessee, and its Lynchburg plant), and the 10-K calls Nuclear Fuel Services “the sole provider of nuclear fuel for the U.S. Navy.”

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CoStar: 3Q26 Business Recap

CoStar’s 3Q26 revenue growth slowed to 14% as bookings fell to $37 million, while cost cuts lifted EBIT margin to 8.8%.

CSGP $13B
Speedwell Memos 3 clicks

ServiceNow Q3 FY12/26 Earnings Review

ServiceNow’s Q3 revenue rose 20.5% to $4.11 billion, while non-GAAP EPS missed consensus and fourth-quarter cRPO growth guidance slowed to…

NOW $110B
Cestrian Capital Research 2 clicks

OSS Q3 FY12/26 Earnings Analysis

One Stop Systems grew Q3 continuing-operations revenue 36% to $12.6 million, raised FY2026 revenue guidance to $45 million, and used $11.8…

OSS $129M
Cestrian Capital Research 1 click

Meta: A Clearer Roadmap

Meta's non-cancelable commitments reached $455 billion as FY26 capex approaches $140 billion, driving expense growth and 700-basis-point…

META $1.6T
TSOH Investment Research 3 clicks

Why So Much Copper?

Amphenol and other copper-connectivity suppliers benefit as copper remains essential inside AI racks, where low-voltage, high-current power…

APH $196B
Jimmy's Journal 3 clicks

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