Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Thursday, November 5, 2026

Back to the front page

AppLovin 3Q26 Business Update: No Notes

AppLovin’s Q3 revenue rose 55% year over year as AXON model gains expanded margins, while ad take-rate compression remains the key competitive risk.

APP $118B
Speedwell Research 3 clicks

From X

@StableBread 1 click

Fajasy on X

Two things I’m watching could change my read on the U.S. economy: → Fed’s December 8-9 meeting and core PCE: Another 0.25% hike with core PCE at 3.1%, or core PCE below 2.9% with the fed funds rate unchanged, pushes the real rate (the Fed’s policy rate minus core PCE inflation) above 1%, which Growth × Policy calls late cycle. That favors commodities, value stocks, emerging markets and banks over long-term Treasuries and growth stocks. Futures put the odds of a December hike at ~75%, and October’s core PCE comes out November 25. → Bank-held AI debt: In September, the Financial Times reported that ~$18B of bank loans for Project Jupiter, a data center $ORCL is leasing in New Mexico to serve OpenAI, were being quoted at 89-91 cents on the dollar, and the banks were stuck holding more of the debt than they had planned. At its October 28 Investor Day, $ORCL said its capex peaks in FY2027-2028 and steps down in FY2029 (years ending in May), when it expects at least $30B of free cash flow.

Investor Letters

All letters

Trading Post November 5, 2026

MercadoLibre’s logistics expansion cut margins by 60 basis points, while Mercado Pago grew credit 62% with 7% NPLs.

MELI $77B
Cassandra Unchained 2 clicks

Intel: The CPU Comeback, Discounted

Intel's Q3 2026 results were hit by memory costs and an Israel shutdown, but enterprise AI inference could lift CPU demand as server…

INTC $287B
Monte Independent Investment Research 2 clicks

Problems at Twist Bioscience (TWST)

Twist Bioscience’s $200 rebound followed an Anthropic-linked short squeeze, yet its DNA and protein services face broad competition while…

TWST $8B
Hunterbrook 4 clicks

VSH Earnings Review

Vishay reported record Q3 revenue of $979 million, up 24%, and guided Q4 to about $990 million as rising backlog and margins contrast with…

VSH $3.6B
Cestrian Capital Research 3 clicks

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…

SUI $14B
Trade Ideas Flow 6 clicks

eToro: Expanding Beyond Crypto

EToro trades at 2.89x EV/FCF with $304 million in trailing free cash flow, expanding from crypto into equities, commodities, currencies and…

ETOR $1.9B
Max Arnoldi 5 clicks
CHWY · long

Chewy INC

Chewy (CHWY) is presented as a long opportunity after a prior 2022 short thesis played out.

CHWY $9.2B
Value Investors Club 5 clicks

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

Publications we follow

Every publication on this site, hand-picked.

129 publications

Newsletters 109

YouTube 4

Blogs 15

Seeking Alpha 74 of 275

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

359 firms

Sectors

Ordered by how often our editor reaches for them.