Uber 3Q'26: Eats vs DoorDash, and the AV Math
Uber Delivery generated an estimated $0.66 EBITDA after SBC per order in 3Q26, versus DoorDash's $0.80, while autonomous vehicles shape Mobility's implied valuation.
Thursday, November 5, 2026
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From X
Lee Roach on X
Can someone find me a single CEO own has bought as much stock in the open market as Ryan Cohen has done for $GME? I know it’s a hated stock on Wall Street but come on guys. This is massively bullish. https://t.co/URKXXIxstM
A Capital on X
$TLN sub $290 was indeed a joke. $1.5bn accelerated buyback, retiring >10% of shares by Q1 2027. $3bn total authorization… https://t.co/RsDYuTjylo https://t.co/yyHIHcZ0yd
Barbarian Capital on X
Carnival Logs Higher Profit, Revenue on Accelerating Demand $CCL https://t.co/vnpiVFB7ub
Trevor Scott on X
@The_Pro_Invest @Muneeb0Muzaffar CEO will get fired $FICO
Lee Roach on X
Ryan Cohen just bought another $10 million of $GME in the open market. This is over $60 million in less than a month. Is there any company with insider buys this big? Wall Street is completely ignoring this stock. They are asleep at the wheel drooling all over their fat bellies. https://t.co/FOlZ2vnFnC
Calvin Blissett on X
@alex7frey Very sorry I mixed up my investors it is Chuck Akre with the mental model I am parroting relating to $FICO. Chuck Akre on $MCO and mandated regulatory competition after the GFC. Link: https://t.co/z6dkyBDouS
Prepared Remarks on X
$fico https://t.co/un1AvcUYYT
Calvin Blissett on X
This is what I am alluding to in the Chuck Akre 2011 google talk $FICO https://t.co/ptAE3rvZqV
Investor Letters
All letters- FCL Capital October 2026 ANPDF $28BCNSWF $53B
- Protean Funds October 2026 LFABF $13BNSIS-B $30B
- JB Global Capital Q3 2026 PYPL $49B
- Chautauqua Capital Management Q3 2026 ADYEY $32BBEKE $21B
- Impax Asset Management third quarter of 2026 IT $13BMKKGY $22B
- Elm Ridge Management September 2026 NOK $47B
- Aoris Investment Management — Aoris International Fund September Quarter 2026 CMPGF $57BCTAS $88B
- Wasatch Global Investors — Small Cap Growth Strategy third quarter 2026 RGEN $11B
Thursday Tailwinds #13: Nov 5, 2026
Florida marinas are 92% full as boat counts rise and permits constrain new supply, creating pricing power for existing operators such as…
Delta Air Lines Is Worth Buying Despite Near-Term Pressure
Delta Air Lines' premium, loyalty and ancillary businesses generate 61% of revenue as cash flow supports debt reduction despite fuel and…
Motti Sapir 
GPC Q3 2026: a quick North America Automotive update
GPC’s NAPA commercial sales grew 4% in Q3, trailing AutoZone and O’Reilly as freight, fuel and rent cut North American Automotive margins…
AMSC, Datadog will be fine, SiTime is worth a look
AMSC and Datadog will be fine, while SiTime is worth a closer look.
An Interview With Intuit CEO Sasan Goodarzi About Accounting and AI
Intuit CEO Sasan Goodarzi discusses using AI to turn accountants from customer-acquisition partners into customers, alongside QuickBooks,…
DigitalOcean (DOCN) Q3 FY12/26 Earnings Review
DigitalOcean reported Q3 revenue up 40% to $321 million and lifted Q4 guidance above consensus, while GPU and data-center expansion cut…
New Ideas From The Road
Aurelion Research increased healthcare exposure and sees opportunities in banking and defense, alongside research on Alcoa, Nike, ONON and…
L3Harris (LHX) Q3 FY12/26 Earnings Review
L3Harris booked $19.3 billion of Q3 orders, lifting backlog to $53.2 billion, raised FY26 guidance and cut its 2028 free-cash-flow target…
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…
Hedge Fund Manager David Orr Shares His Approach to Investing & Risk Management
David Orr describes running Militia Capital’s roughly 500-stock long-short portfolio, using expected value, correlation and factor…
3Q26 Recap: Margin at Trough, Recovery In-sight
Coupang expects Product Commerce margins to return to pre-data incident levels by mid-2027 as customer spending recovers and Taiwan…
update on Gartner
Gartner’s growth has stalled after federal contract losses and cautious commercial spending, raising questions about its competitive…
Recycle Bin
Used aircraft engines can be repurposed as gas turbines, easing data center power constraints while tightening aviation supply.
Chipotle Stock: The Dip Is A Long-Term Opportunity
Chipotle plans 350 to 400 annual openings and low single-digit same-store sales growth, supported by menu innovation, international…
Jake Blumenthal 
AMRZ · long Amrize
Amrize (AMRZ) produces aggregates, cement and roofing materials across the US and Canada.
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%.
Incyte (INCY) Q3 FY 12/26 Earnings Review
Incyte reported Q3 revenue of $1.56 billion, up 14%, as Opzelura sales rose 36%; a $1.23 billion Vega acquisition charge drove an operating…
Regeneron (REGN) Q3 FY 12/26 Earnings Review
Regeneron Q3 revenue rose 36% to $5.1 billion as Sanofi collaboration revenue jumped 68%, while EYLEA US sales fell 41%.
Matt Murphy and Michael Hurlston Fireside Chat: Irrational Recap
Marvell and Lumentum’s merger targets uVCSEL scale-in optics, combining Marvell’s DSP and analog IP with Lumentum’s laser manufacturing for…
Marvellous Value Destruction
Marvell’s proposed Lumentum deal risks alienating Cloudlight customers and losing engineering talent, despite limited optical integration…
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Sectors
Ordered by how often our editor reaches for them.
