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Monday, November 2, 2026

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BMRN Earnings Review

BioMarin’s Q3 revenue rose 32% to $1.02 billion after the Amicus acquisition, while lower 2026 guidance and $2.8 billion of net debt weighed on earnings.

BMRN $11B
Cestrian Capital Research 1 click

From X

@MultiplesCap

Multiples Capital on X

$EXPE has always been a much slower grower than $BKNG, won't be surprised if it's a fav pair trade of hedge fund (long booking, short expe). Over the years though Expedia has been going through internal changes, sold some businesses (Egencia to AmEx travel and few other sites), went through a technology transformation for internal sites (Expedia, https://t.co/ap3OIandej, Vrbo). 50% improvement in operating margin since 2019. But not as profitable as Booking (operating margin at 12% vs 32% for bkng). Mainly a US focused player (unlike bkng) with a very strong B2B segment that's growing mid teens and about 30% of total revenue), now looking to expand internationally. To be seen if that would drive higher margin given the much fragmented hotel market internationally vs US. Bkng on the other hand seeing revenue growth slowing down to high single digit and mid teens eps growth with margins declining since 2019. Expedia needs to show higher top line growth but possible still delivers mid teens eps growth. Travel is cyclical but these OTA are very robust, they saw revenue growth even in the financial crisis, as more ppl look for deals. AI is an unknown, Expedia is embracing it. Finding a hotel with the right deal is not same as getting an answer to a question from LLM, distribution/platform should remain valuable. Interesting to see how the pieces fall for Expedia, PEG < 1 and these multiples should atleast provide downside protection

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FTAI 3Q26: Aero margins in focus

FTAI’s Aerospace Products margin rebounded to 31% as CFM56 module output rose, while Power deposits and contracted deliveries fund its 2027…

FTAI $17B
Stock Thoughts 5 clicks
BR · long

Broadridge Financial Solutns

Broadridge Financial Solutions is framed as a high and rising free-cash-flow generator at a depressed valuation, with insider buying…

BR $21B
Value Investors Club

TSOH Weekly Roundup (10/30/2026)

Markel spent $315 million repurchasing shares in Q3 as Thrive agreed to buy ADT for $7.6 billion and Hasbro cited rising adult toy demand.

MKL $24B
TSOH Investment Research 1 click

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 $21B
WHAT ARE WE DOING? “Contrarians At The Gate” 3 clicks

Twilio CEO: ‘Buy the dip!’

Twilio CEO Khozema Shipchandler urged investors to “buy the dip” after earnings sent the software maker’s shares down 17% after hours.

TWLO $33B
The Technology Letter 2 clicks

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

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