The Midterms Have Changed the AI Narrative: S&P Down 4.4%, Nasdaq Down 5.5% | The Weekly Wrap
Steve Eisman links a Democratic midterm sweep and CoreWeave concerns to an AI narrative shift as the S&P 500 fell 4.4% and Nasdaq 5.5%.
Friday, November 6, 2026
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Barbarian Capital on X
Netflix, America’s Dominant Streaming Service, Has Hit a Wall $NFLX https://t.co/pBYjeExXLz
Barbarian Capital on X
CoreWeave’s Business Is Sound Despite Debt Fears, JPMorgan Says $CRWV https://t.co/DKA8ZpjnGb
Evan Tindell on X
Also, $MSFT is up 16x since he stepped down as CEO -- hard to argue the business would have done better with him still as CEO. The only benefit he would've gotten from staying is recognition from @chamath and co who are not smart enough to analyze non-business accomplishments.
Calvin Blissett on X
@grok say why this would be good for Kaspi using quantitative and qualitative data. Also mention how at one point $KSPI was trying to expand into Ukraine
Calvin Blissett on X
$KSPI looking at me real funny with its 10% dividend at around $92 https://t.co/zCh97GxEFO
A Capital on X
@shaqer23 $ZM with Anthropic?
Investor Letters
All letters- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SN $31B
- Rathbones October 2026 SBGSF $143BSIEGY $237B
- FCL Capital October 2026 ANPDF $28BASML $575B
- Protean Funds October 2026 LFABF $13BNSIS-B $30B
- Akre Capital Management, LLC Third Quarter 2026 BN $96BCNSWF $53B
- JB Global Capital Q3 2026 BABA $262BPYPL $49B
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- Chautauqua Capital Management Q3 2026 AAIGF $103BADYEY $32B
Axon 3Q26 Update: Revenue Breaks Below 30%, Runway Reaffirmed
Axon’s 3Q26 revenue growth fell to 28% after delayed federal Dedrone contracts, while software grew 43% and its $1.2 billion Skydio…
AMD Q3 FY26, Annotated
AMD's Q3 revenue rose 45% to $13.4 billion as data center reached $8.5 billion, 64% of sales, driven by EPYC and Instinct ramps.
Datadog (NASDAQ: DDOG) Stock Rating: Stop After Q3 FY12/26 Earnings
Datadog beat Q3 revenue guidance by $52 million, but guided Q4 revenue flat as its largest AI-native customer reduced usage after renewing.
Moderna (MRNA) Q3 FY12/26 Earnings Review
Moderna reported $1.313bn in Q3 revenue, up 29%, and $130m in operating income versus a $260m loss, while operating cash flow was negative…
Undercovered Dozen: NNN REIT, Weyerhaeuser, Vicor, And More
Vicor earns a Strong Buy after record Q3 results and AI gains, while QXO falls to Hold over capital structure and execution risk.
The Undercovered Dozen 1 click
Cloudflare (NET) Q3 FY12/26 Earnings Review
Cloudflare’s Q3 revenue rose 39% to $782.5 million, its fastest growth in nearly four years, while a $67.9 million GAAP operating loss and…
Airbnb 3Q’26: Back in Growth Mode, but Agents Still Worry Me
Airbnb’s 3Q’26 revenue grew 16% ex-FX as bookings accelerated, but consumer travel agents remain a long-term competitive threat.
Reddit Stock $RDDT : The Human Internet Just Got 29% Cheaper
Reddit fell 29% after warning that Google search traffic was declining, despite Q3 revenue rising 53%; the bull case rests on communities,…
The Comprehensive Guide to the Bank of Nvidia
Nvidia has committed capital to customers, compute providers and AI startups, tying investments, capacity purchases and rent backstops to…
Rocket Lab: Less Euphoria, Still Too Much Perfection Priced In Ahead Of Q3
Bernard Zambonin 1 click Dynatrace (NYSE: DT) Stock Rating: Do Nothing After Q2 FY3/27 Earnings (No Paywall)
Dynatrace reported 17% Q2 revenue growth but flat new ARR and lower profit and free-cash-flow guidance, following its $816 million Arize…
Coherent: Selling Volume While Lumentum Sells Scarcity
Coherent sells constrained InP capacity through volume-priced modules, while a $20 billion PhotonLink agreement marks its first…
ARM Q2 FY3/27 Earnings Review
Arm reported Q2 revenue of $1.443 billion, up 27%, as licensing rose 50% while royalties grew 8%; Q3 guidance calls for $1.54 billion.
[scuttleslops] INTC, AMD, Anthropic, BKNG, NEE, PLTR
Intel’s data-center revenue rose 80% to $7.3 billion as AI-agent workloads lift server CPU demand, but Intel 3 wafers and advanced…
EQT: Will Berkshire Hathaway Buy Them After The Range Resources Acquisition?
EQT becomes the largest U.S. natural-gas producer after acquiring Range Resources, with takeover speculation centered on Berkshire Hathaway…
Marvell Buys Lumentum: MRVL Initiated at Buy, $258 PT
Marvell’s Lumentum acquisition targets optical networking demand as AI data centers shift from copper to lasers, expanding its hyperscaler…
AppLovin 3Q26: Business Update
AppLovin's 3Q26 revenue rose 55% year over year and margins reached 78.2%, driven by AXON model gains, while publisher bidding pressure…
Interactive Brokers: Start Buying Below $60 During The AI Crash (Ticker: IBKR)
Interactive Brokers faces earnings pressure from an AI-driven market downturn and lower rates, while customer growth and product expansion…
Blue Owl Capital: Book Value Is Rising Under A Default-Wave Price
Blue Owl Capital's NAV rose to $14.32 as buybacks and portfolio marks improved, while OBDC trades at a 25% discount despite a 0.33%…
Tim Travis 1 click
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…
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