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Wednesday, November 4, 2026

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The Buyback Shows Up (ESRT Q3 2026)

Empire State Realty Trust repurchased $85.8 million of shares at $4.56 each, using 1359 Broadway sale proceeds to fund buybacks and debt reduction.

ESRT $1.3B
Orphan REITs 6 clicks

From X

@BrokenMoats 3 clicks

Broken Moats on X

Have to at least acknowledge rate reversal and move into low quality and retail/software today...... But oil/diesel/soft commodities/transportation all staying bid, find this more positioning over extended om rates then durable change (especially with the data and the still unresolved issues causing the inflation) AI sold off I think is what is driving both moves in rates (more out needs a home) and retail/rate sensitive/software were the funding shorts (see sectors and components today) ......but geez at these prices an easier trade I think is to fade software/retail then guess next stop on AI and funding.....the are correlated (for now) anyways. Go through the sectors and components and sort by % gain today almost stacked ranked from worst business (biggest intraday gain) to quality at the bottom.....tells you whats going on. Some might say low quality always leads on a reversal.....this is not a start this is after a stealth sharp move higher for $ARHS $ETSY $EBAY $KSS $SHAK $WMT $CBRL $APPN $DOCU $IT $FRSH $BSP etc.
@StableBread

Fajasy on X

If the AI model Nubeva Technologies $NBVAF (TSXV: $NBVA) is training to read malware works, it could also take over the one step in its ransomware recovery software that engineers still do by hand. Nubeva’s Ransomware Reversal software, or NuRR, copies the encryption keys during an attack, but someone still has to figure out how ransomware uses them before Nubeva can build a decryptor (a program that reverses the encryption). AI agents have run NuRR’s routine support (bug fixes, support tickets, and product maintenance) for some time, CEO Randy Chou said, but Nubeva’s engineers still handle each live ransomware case by hand. Nubeva’s first granted patent finds the encryption method by running the ransomware in a sandbox (an isolated test computer) and matching the result to a library of standard methods. But the sandbox method breaks down in two cases Chou described, since homemade encryption (encryption ransomware authors write themselves) won’t match any standard method, and malware that detects the sandbox does nothing. A model that reads the malware’s compiled code could get around both problems, since (1) homemade encryption still shows up in the code as steps a model can follow, and (2) the malware’s checks for a real computer only run when the malware runs, so reading the code never triggers the checks. With NuRR supplying the keys and the model working out the encryption method, Nubeva would have both inputs a decryptor needs without an engineer taking the ransomware apart by hand. Frontier models, the most advanced AI models from labs like OpenAI and Anthropic, can already work out what some binaries (compiled programs) do just by reading their code. Anthropic said in April 2026 that its Claude Mythos Preview model can take “a closed-source, stripped binary,” meaning one with its function and variable names removed, and reconstruct “(plausible) source code for what it does.” Obfuscation (scrambling code to hide its purpose) is harder for a model to get past, since compressed malware keeps its real code hidden until it runs. Chou blamed obfuscation for the ~70% of malware binaries frontier models can’t figure out, so Nubeva’s model still has to prove it can do better. Chou didn’t connect the model to NuRR in his October 5, 2026 interview, but working out the encryption method is the same step Nubeva’s FY2026 annual filings say its AI decryptor builder will automate. Therefore, if the model works on live ransomware, NuRR could take on more cases at once, easing the capacity problem that cost Nubeva its biggest customer in 2023 (risk advisory firm Kroll).

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New Ideas From The Road

Aurelion Research increased healthcare exposure and sees opportunities in banking and defense, alongside research on Alcoa, Nike, ONON and…

AA $10BNKE $60B
Aurelion Research 4 clicks

Oracle: The Party Is Almost Over

Oracle’s CDS spreads exceed 320 basis points as debt approaches $135 billion and fiscal 2027 capex targets $95 billion, amid heavy reliance…

ORCL $363B
David Desjardins 1 click

Site Centers (NYSE:SITC)

Site Centers' $3 per-share return-of-capital distribution and December delisting leave a discounted liquidation stub, with two properties…

SITC $192MCURB $3.6B
Real Assets, Real Value 5 clicks

Coupang: 3Q26 Business Recap

Coupang’s product-commerce growth rose 9% as data-leak effects fade, while management expects margins to return to pre-incident levels by…

CPNG $27B
Speedwell Memos 3 clicks

update on Gartner

Gartner’s growth has stalled after federal contract losses and cautious commercial spending, raising questions about its competitive…

IT $13B
scuttleblurb 1 click

Recycle Bin

Used aircraft engines can be repurposed as gas turbines, easing data center power constraints while tightening aviation supply.

EQT $33BRRC $12B
Doomberg 8 clicks
AMRZ · long

Amrize

Amrize (AMRZ) produces aggregates, cement and roofing materials across the US and Canada.

AMRZ $22B
Value Investors Club 3 clicks

TWLO Q3 FY12/26 Earnings Review

Twilio's Q3 revenue rose 20% to $1.56 billion, but Q4 organic growth guidance fell to 11% to 12% and RPO declined 28%.

TWLO $33B
Cestrian Capital Research 3 clicks

Namib Minerals: Research Flash

Namib Minerals accelerates Redwing’s restart, targeting first gold this month and a ramp from 338 ounces monthly to 835 ounces by Q2 2027.

NAMM $46M
Atrium Research - Equity Research 7 clicks

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