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Monday, November 9, 2026

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Seed Corn

Chiron’s failed $49 million Beaumont sale and $178 million Pinnacle acquisition leave XRN with $70 million of liquidity and medical-office assets to fund future deals.

XRN $402M
Orphan REITs 1 click

From X

@aleabitoreddit

Serenity on X

To my knowledge, $CRDO doesn't have in-house CW DFB laser manufacturing capabilities, so not quite... Dustphotonics integrates external CW lasers so Credo is another potential $MRVL for the need to M&A laser companies. They did another with Hyperlume earlier but that was for microLEDs, not CW. Lot of industry channel checks like Largan cast a lot of doubts over that microLED commercialization for CPO (not every short reach application).
@ParadisLabs

Paradis on X

$LITE shareholders should be annoyed... The 23.9% premium in the $MRVL deal is real on paper, but in dollars it's gone. 1. 4.5 $MRVL per $LITE = $1,132/share on 28 Oct = 23.9% above Lumentum's undisturbed $914. This is the 23.9% premium reported today. 2. Marvell has since fallen ~22% to $196.40 (Friday close). So 4.5 shares = ~$884 = 3.3% below Lumentum’s undisturbed price of $914. 3. The deal's $102.5B equity value is now ~$80B. 4. Lumentum fell ~8% in the same selloff to the ~$840s. 5. So even vs where Lumentum actually trades, the premium has shrunk from 23.9% to ~5%. I think Marvell needs to get back above ~$203 for Lumentum shareholders to see any premiums over the undisturbed price. It's essentially a premium paid in a currency (stock) that’s fallen 22%. Welcome any pushback on my napkin math calcs. By no means a comprehensive model.

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DoorDash and Google

DoorDash and Google.

DASH $86B
Stratechery by Ben Thompson – On the business, strategy, and impact of technology. 3 clicks

Diamond Estates: Research Note

Diamond Estates converts $4.7 million of Lassonde debentures at a 69% premium, cutting debt to $10.9 million and raising Lassonde ownership…

LSDAF $1.2B
Atrium Research - Equity Research

Vicor Update, Part Four

Vicor’s Federal Circuit hearing put Foxconn’s disputed patent license under pressure, reinforcing its AI server royalty model and licensing…

VICR $6.8B
CV's Substack 2 clicks

NEW POSITION: Google LEAPS

Alphabet bought long-dated GOOGL calls after a 12.6% earnings drop, betting AI monetization and distribution overcome capex pressure and…

GOOGL $3.5T
Hated Moats 1 click

Floor & Decor 3Q26: Business Update

Floor & Decor’s 3Q26 sales rose 3% while comparable sales fell 1.4%; it cut 2027 openings to 10-15 as high mortgage rates pressure…

FND $5B
Speedwell Memos 1 click
MTMTY · short

Metlen Energy & Metals PLC

Metlen Energy & Metals faces a 40% short case centered on its overpriced aluminium, alumina and Greek power businesses.

MTMTY $6.8B
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