Moody’s: Fasten Your Seat Belts, But Not for AI
Moody’s ratings business faces potential deceleration, while AI-related debt issuance and anti-data-center politics pose less risk than investors fear.
Monday, November 9, 2026
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From X
Calvin Blissett on X
@RockwoodNotes @loneelmcapital Love the equity yield curve mental model, grows more and more relevant daily. Your $OMC thesis is they are insulated from AI because they have become akin to a warehouse of ad data? Dispensing it and holding it and tracking it for a fee. Thoroughly enjoy your content
Fajasy on X
Why I like Toast $TOST 🍞 - Mr.Bread https://t.co/tIjMjCrYfT
Barbarian Capital on X
3/n $HOOD CEO @vladtenev on @NoPriorsPod This is the most innovative brokerage by far; expanding ownership (incl via tokenization); also math/math models, origin story https://t.co/nz0sEy5A50
Colin King on X
What an interesting question... is there a repeatable "tough industry" playbook which creates value over time? $DDS is a share cannibal with an ugly looking revenue picture (no growth from 1998-2026 / declining) https://t.co/v8YKS28dN9 https://t.co/7e3nlBYuad
Lee Roach on X
Just got a Pokemon rip offer in the Dunkin Donuts app. $GME is a sleeping giant. https://t.co/8QDb89DOJu
Investor Letters
All letters- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SN $31B
- FCL Capital October 2026 ANPDF $28BCNSWF $53B
- Protean Funds October 2026 LFABF $13BNSIS-B $30B
- Akre Capital Management, LLC Third Quarter 2026 BN $96BCNSWF $53B
- 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
Tower Semiconductor Update, Part Two
Tower Semiconductor reported $526 million in quarterly revenue and extended photonics contracts through 2029, while its low-loss silicon…
Earnings Review: AMD, MELI, TIC, XPEL, ZTS
AMD’s data-center revenue rose 97%, while MercadoLibre, TIC Solutions, XPEL and Zoetis also report quarterly results.
Blue Owl Capital Corporation Q3: OTC Bonds Outperform Stocks In The Current Market Environment
Blue Owl Capital’s OTC bonds yield up to 6.92% and offer 8.8% levered ROE, while OBDC stock trades at a 25% discount to NAV.
Arbitrage Trader 
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%.
Oil & Gas M&A Boom Continues with Another Billion-Dollar Oil Buyout
Ovintiv’s C$1.26 billion purchase of Logan Energy at roughly 2x proved reserve value points to further consolidation among Canadian oil…
Axon 3Q26 Business Update
Axon cut full-year guidance after delayed federal Dedrone contracts slowed 3Q revenue growth to 28%, while software and services grew 43%.
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…
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.
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 2 clicks
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…
My Last GFL Update - Hopefully
GFL’s take-private structure hinges on BC Partners rolling 60% of its stake to preserve debt portability under the 40% permitted-holder…
Expert Call | Lumentum Optical Chip Capacity, EML/SiPh Outlook & Industry Pricing
Lumentum’s 2027 optical-chip expansion, 200G EML and CW capacity, silicon-photonics roadmap, pricing and 3.2T module prospects face…
AST SpaceMobile: New Glenn Gives Hope, Manufacturing Should Follow (Rating Upgrade)
AST SpaceMobile targets intermittent US satellite service by end-2026 as New Glenn progress could speed constellation launches after…
Melissa Tucker 1 click
Are Neoclouds Dead?
Neoclouds face tighter debt financing as AI infrastructure capex outruns cash flow, leaving cash-burning GPU providers more exposed than…
Reddit: Deep Dive Analysis
Reddit generated $805 million in Q2 2026 revenue, 95% from ads, but slowing Google search referrals expose AI-driven traffic and…
Single Stock Spotlight #17: Gamestop (GME)
GameStop’s $6.1 billion in net cash equivalents and shift toward collectibles underpin a $30 to $40 per-share valuation thesis.
Monte Investments Market Brief Vol. CXXXIII
Monte Investments updates Carpenter Technology after a 25% sell-off, tracks EQT’s $12.83 billion Range Resources acquisition and assesses…
Cadence Design Systems Q3 FY12/26 Earnings Review
Cadence Design Systems grew Q3 revenue 22% to $1.633 billion, built an $8.2 billion backlog and raised its 2026 revenue growth outlook to…
Blackstone: Q3 Shows The Private Credit Scare Was Overdone, And The Stock Is Still Cheap
Blackstone’s Q3 brought $1.37 trillion in AUM and $63.3 billion of inflows, with other businesses offsetting real estate weakness as…
Timur Mekhantev 2 clicks
SBAC · long Sba Communications CORP
SBA Communications trades at 14.9x forward AFFOPS, near a record low, despite being pitched as the market’s cleanest tower operator.
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