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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

@convequity 3 clicks

Convequity on X

$META bulls say its ad cash flow lets it undercut the AI labs on price. The Muse Wonder launch shows Meta matching their prices instead. Meta released Muse Wonder and Muse Wonder Full on Monday and says they score level with Claude Fable 5.1 and GPT-6 Astra on its own tests. Three details from the launch. 1. Wonder costs $4 per million input tokens and $20 per million output tokens on Meta's API. TechCrunch puts that in the same price band as GPT-6 Sol and Opus 5.5. Meta is pricing with the labs, not under them. 2. The stronger model, Wonder Full, is not on the API at all. It is only available to Muse Code subscribers. A developer comparing API models is not buying the model Meta uses to claim the frontier. 3. Both models are distributed only through Meta's own API and Muse Code subscriptions, and the launch says nothing about releasing the weights. I read this as Meta adopting the labs' business model rather than attacking it. The frontier model is a subscription product, and the API is priced at the labs' level rather than below it. That weakens one part of the bull case. If Meta is not undercutting, the price pressure on the labs that bulls expected has not arrived with this launch. The question for the results on 21 October is what Muse subscriptions, Muse Code and the API are earning against the spend on the Prometheus data centre that trained these models, not whether Meta can take the labs' customers on price.
@leevalueroach 1 click

Lee Roach on X

GameStop $GME hits year to date highs as Wall Street hedge funds are left in the dust as they refuse to even look at the company given prior meme stock scarlet letter, despite the CEO buying $118 million worth over the past year. Every purchase a higher price than the one before it too. All indications that Pokemon market not slowing down and GameStop is sandbagging the back half of the year hard. I wrote up a thesis on the company a month or so ago back. It is about to hit my price target if this keeps up. https://t.co/rExF9W5ILg

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Microsoft: The $250 Billion Club

Microsoft’s widening gap between M365 Commercial revenue growth and seat growth eases concerns over Copilot monetization across its 400…

MSFT $4T
TSOH Investment Research 2 clicks

Altria: Dutiful

Altria raised 2026 adjusted EPS guidance to $5.66 to $5.74 and authorized more buybacks, while on! loses share as cigarette margins hold.

MO $130B
Invariant 3 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

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 $20B
Stock Thoughts 5 clicks

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