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Thursday, November 12, 2026

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QXO Inc Earnings Update: Q3 2026

QXO's Q3 sales rose 79% to $4.9 billion after TopBuild and Kodiak acquisitions, while acquisition debt lifted interest expense to $163 million and adjusted EPS fell.

QXO $13B
SixSigmaCapital: Navigating the Financial Markets 2 clicks

From X

@convequity

Convequity on X

$SPCX's Starship reached orbit and delivered cargo. The gigawatts still depend on how often it flies. We have been building the orbital-compute case with three key inputs: kilowatts per ton, tons per flight, and flights per year. 1) Ship 41 reached orbit, about 275 km, and released all 26 Starlink V3 satellites. They are in service. Until this flight Starship had only made short hops and come straight back. 2) The flight was shorter than the plan. One of six upper-stage engines shut down early, and the ship came down at the first health check after deployment, about three hours after launch, instead of staying up for about ten hours. Both stages splashed in the ocean. That was the plan. The ship can take a hard splash and be scrapped. It still delivered a commercial payload. Catching it is how later flights get cheaper. 3) A typical 1 GW site on the ground loses about 370 MW to power conversion, cooling and other overhead that is not the chips. Elon has said terrestrial solar produces about an eighth of the power of the same panel in space: no night, and no atmosphere in the way. In orbit most of that 370 MW overhead goes away as well. Sunlight is continuous, and the heat leaves through radiators. 4) On our Special View assumptions, year 4 is 200 tons at 100 kW per ton, which is 20 MW on one flight. Five hundred flights is 10 GW. Year 5 is still 20 MW a flight. Five thousand flights is 100 GW. The tons and the kilowatts stay the same. The flight count is what changes. Flight 14 showed Starship can reach orbit and deliver cargo. The 10 GW and the 100 GW still depend on how fast SpaceX can fly it again, and at what price.
@BrokenMoats 1 click

Broken Moats on X

Someone really should investigate the price action into some of these ancillary biotech stocks.....very reminiscent of a certain Situational Awareness with chip stocks earlier in the year. No one is filing ownership and yet these stocks push higher regardless of macro, or geopolitical news or the overall index moves. Someone with swaps? or options likely at play then using the momentum pf retail and algos to add to the bid. The trade is melting up perfectly to the end of the quarter (not surprised to see them even more aggressively up today than usual to mark performance). We saw this with the chips trade after an unprecedented April-June. But some of the moves with this trade exceed that euphoria (Look at $TXG, $TWST, $SDGR, $RGEN, $GRAL, and a host of other companies)........DO we see the similar move after a giant quarter with a reversal to kick of the next quarter, that was the fate with chips and caused the fund to blow up. Be interesting to see if they learned any lessons, Im guessing not based on recent performance, and if it is a different player the strategy looks the same. These companies need financing and should hit the market bid which is what set off Viacom and was the undoing of Bill Huang in 2021. Lets see, but a basket of these stocks looks interesting at current levels sometime today for gravity/secondaries to come early in Q4

Investor Letters

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Big Short: Fidelity & Guaranty

F&G’s main insurer held $66.5 billion of assets against $1.38 billion of statutory capital, while private credit, reinsurance dependence…

FG $3.1B
Mispriced Assets 4 clicks

Top Rebound Stocks for Nov’26

Texas Pacific Land's 50% selloff reflects faded data-center expectations, while its Permian royalty business generated $498 million of 2025…

TPL $19B
Rebound Capital 2 clicks

ASML ($ASML) Deep Dive

ASML monopolizes EUV lithography, a critical tool for leading-edge chips, with production capacity stretched through 2028 and customer…

ASML $591B
Jimmy's Journal 2 clicks

Peloton: Beyond The Bike

Peloton’s connected-fitness subscribers fell 9% year over year to 2.475 million, with another high-single-digit holiday decline forecast as…

PTON $2.5B
TSOH Investment Research 3 clicks
MONOY · long

Monotaro CO LTD

MonotaRO, traded as MONOY in the U.S. and 3064 in Japan, is a Japanese MRO distributor recommended as a long.

MONOY $7.4B
Value Investors Club

ON THE TAPE with Guy Adami

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

NVDA $4T
WHAT ARE WE DOING? “Contrarians At The Gate” 5 clicks

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