New Ask Claude or ChatGPT about any stock, using Bullpen. Bullpen in Claude or ChatGPT. 7 days free
Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Wednesday, November 11, 2026

Back to the front page

ON THE TAPE with Guy Adami

Guy Adami discusses Nvidia, Anthropic's IPO prospects, energy, gold and the AI trade.

NVDA $4.2T
WHAT ARE WE DOING? “Contrarians At The Gate” 4 clicks

From X

@stockgutter 3 clicks

SG on X

I asked @grok to assess how the full results that $MRNA plans to release at ESMO that would strengthen or weaken the impression from top line results announced in August. The results are copied below. Seems reasonable to me at first glance (without having checked any of the data cited) -- anyone have a different view? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Items that could weaken (or further strengthen) the positive view include: - Magnitude of benefit: Hazard ratios (HRs), confidence intervals, absolute risk reductions, and landmark rates (e.g., 1- or 2-year RFS/DMFS). The earlier Phase 2b KEYNOTE-942 showed an RFS HR of ~0.51 (~49% relative risk reduction) and a DMFS HR of ~0.41 at 5 years. A substantially weaker Phase 3 effect (for example, HR closer to 0.75–0.85 with modest absolute benefit) could make the result look less compelling given the complexity, cost, and personalized manufacturing of the therapy. A comparable or stronger effect would reinforce the topline. - Statistical robustness and maturity: Width of confidence intervals, exact p-values, number of events, and median follow-up duration. Narrow intervals and a solid number of events support reliability; wide intervals, low event counts, or very short follow-up at the interim analysis could raise questions about reproducibility or durability. Subgroup consistency: Results by stage (IIB/IIC vs. III vs. IV), age, BRAF status, PD-L1 expression, geography, or other factors. Benefit concentrated in higher-risk stages or selected subgroups would narrow the practical population and commercial opportunity relative to a broadly consistent effect. Durability (Kaplan–Meier curves): Early separation that later plateaus or converges would suggest limited long-term impact. Sustained separation would support durability. - Overall survival signal: Any immature OS HR, death counts, or curve separation. An adverse or flat trend (while not decisive this early) could temper enthusiasm pending mature data. - Safety, tolerability, and feasibility details: Grade ≥3 adverse events, serious AEs, immune-related AEs, discontinuations, quality-of-life/patient-reported outcomes, and any manufacturing metrics (production success rate, turnaround time, or treatment delays). Higher toxicity, discontinuations, or practical barriers could offset efficacy gains. The topline noted consistency with prior experience and no new signals, but granular rates matter. - Stronger, consistent, durable efficacy with manageable safety and feasible delivery would solidify the positive assessment, support regulatory filings, and underpin commercial expectations. Marginal magnitude, inconsistency across key subgroups, limited durability, or meaningful safety/feasibility issues would lead to a more cautious view of clinical utility and value, even though the trial formally met its endpoints.

Investor Letters

All letters

Cat-Scratch Fervo

Fervo Energy raised $2 billion in its May IPO, then fell nearly 70% below issue price after a Morpheus short report, despite targeting 1 GW…

FRVO $3.8B
Doomberg 4 clicks

Sea Ltd Earnings Update: Q3 2026

Sea Ltd reported Q3 2026 revenue of $8.6 billion, up 43.4% year over year, while net income rose 34.0%.

SE $45B
SixSigmaCapital: Navigating the Financial Markets 5 clicks
OSW · short

One Spa World

OneSpaWorld (OSW) faces about 37% downside as its valuation requires unattainable growth in average revenue per customer after major-market…

OSW $3.1B
Value Investors Club

Airbnb 3Q26: Business Update

Airbnb’s 3Q26 revenue rose 19% to $4.9 billion as nights and seats grew 16%, with app bookings up 29% and Reserve Now Pay Later adding…

ABNB $108B
Speedwell Memos 2 clicks

Research update

S&P Global research will assess Platts, Kensho and ratings growth; Benefit Systems’ 72% YTD rally changed its valuation, while Netflix and…

SPGI $138BICE $101B
Global Outperformers 3 clicks

Publications we follow

Every publication on this site, hand-picked.

130 publications

Newsletters 110

YouTube 4

Blogs 15

Seeking Alpha 83 of 285

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

375 firms

Sectors

Ordered by how often our editor reaches for them.