Daily recap, Wednesday, November 4

Wednesday November 4th, 190 stock ideas

Most viewed

Hedge Fund Manager David Orr Shares His Approach to Investing & Risk Management

David Orr describes running Militia Capital’s roughly 500-stock long-short portfolio, using expected value, correlation and factor controls, particularly on shorts.

GPC Q3 2026: a quick North America Automotive update

Stock Thoughts ORLY $73B GPC $17B

GPC’s NAPA commercial sales grew 4% in Q3, trailing AutoZone and O’Reilly as freight, fuel and rent cut North American Automotive margins 40 basis points.

New investor letters

Wealthspire Advisors · third quarter 2026

2026 Q3 Market Commentary

YCG Investments · Q3 2026

Market Commentary

0K36 ​AMZN $2.9T ​AON $73B ​CME $108B ​CPRT $30B ​DBOEF $64B ​GOOGL $3.4T ​GPAEF $14B ​HRMS ​MA $556B ​META $1.6T ​MRSH $97B ​MSCI $46B ​MSFT $3.9T ​RACE $74B ​SPGI $135B ​V $786B ​VRSK $26B

Westfield Capital Management · Third Quarter 2026

Small Cap Growth Equity Third Quarter 2026 Investment Commentary

ADPT $4.3B ​BROS $5.9B ​DT $13B ​FTAI $20B ​GWRE $13B ​NXT $14B ​PCOR $9.6B

TimesSquare Capital Management · 3Q 2026

AMG TimesSquare Mid Cap Growth Fund Commentary

CRDO $28B ​CRS $15B ​DT $13B ​MKSI $13B ​VEEV $49B

Spyglass Capital Management · Third Quarter 2026

Q3 2026 - Spyglass Investor Letter

AAON $5.7B ​APP $80B ​CHYM $11B ​CRDO $28B ​FICO $16B ​ILMN $36B ​IOT $25B ​MKSI $13B ​PCOR $9.6B ​QXO $12B ​SNOW $103B ​TKO $35B

Technology and AI

𝕏  @negligible_cap

*APPLE CUTS INTERNAL AI USAGE BUDGETS IN MOVE TO REDUCE SPENDING *APPLE LOWERED DAILY AI CAP FOR SOME ENGINEERS TO $200 FROM $300 $AAPL really leaning into being the anti-AI trade

Negligible Capital

AAPL $4.8T

𝕏  @SouthernValue95

$Msft can leverage OAIs IP through 2032, >6yrs, so what would be the point of duplicating all of that R&D along the way, probably not as well? This is a structural efficiency advantage to $MSFT that is unique among leading AI companies. They can sell premium tokens with owner economics without the elevated training cost. That is worthy of a premium multiple. And why they are growing EBIT >20%…

SouthernValue

MSFT $3.9T

𝕏  @aleabitoreddit

New SEC filing discloses $INTC CEO buying $9.71M worth of Intel shares at $64.7 under his family trust. Pretty large vote of confidence after the 49.9% drop this month. Reminds me of the time the former $TSM chairman bought $7.8M of $MU back in the $300's. https://t.co/KLXXwqtL9f

Serenity

TSM $2.1T

𝕏  @aleabitoreddit

We’re seeing the great rotation into safe, quality assets. $DUOL +34.86% $MU -4.41% https://t.co/1aNnHcDBUR

Serenity

MU $946B

Oracle: The Party Is Almost Over

Seeking Alpha ORCL $383B

Oracle’s CDS spreads exceed 320 basis points as debt approaches $135 billion and fiscal 2027 capex targets $95 billion, amid heavy reliance on roughly $300 billion of OpenAI commitments.

Intel: Why Didn’t We See This Coming?

Vik's Newsletter INTC $348B

Intel’s 30% stock collapse followed guidance for a more than 20% sequential Q4 client revenue decline, server CPU packaging constraints and a fatal Fab 28 shutdown.

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update on Gartner

scuttleblurb IT $13B

Gartner’s growth has stalled after federal contract losses and cautious commercial spending, raising questions about its competitive position during the AI transition.

DigitalOcean (DOCN) Q3 FY12/26 Earnings Review

Cestrian Capital Research DOCN $11B

DigitalOcean reported Q3 revenue up 40% to $321 million and lifted Q4 guidance above consensus, while GPU and data-center expansion cut gross margin to 50%.

What AI Bubble? AXT Reports Record Q3 Revenue And Positive Forward Outlook (Rating Downgrade)

Seeking Alpha AXTI $3.6B

AXT reported record Q3 revenue as AI data-center demand for indium phosphide drives supply agreements and capacity expansion.

Digital Turbine: The Turnaround Is Gaining Momentum, But Debt Remains The Wild Card

Seeking Alpha APPS $1.1B

Digital Turbine posted 27% Q1 FY2027 revenue growth and 69% adjusted EBITDA growth, but free-cash-flow conversion and refinancing remain critical to reducing debt.

Consumer Discretionary

𝕏  @aleabitoreddit

Cyberoffense/defense is probably going to eat up a TON of compute and end up a continuous compute-intensive arms race. Even $AMZN CEO thinks cybersecurity would take up 20% of tokens consumed for the next year. It's literally a problem of how much you throw at compute for vulnerability discovery + model capability, from of my chats w/ Horizon3. And this is going to become a nation state issue, as…

Serenity

AMZN $2.9T

𝕏  @BrokenMoats

Something unholy with price action in the market lately. $GM crushed on earnings, subsequently raises 25%+ in a week to a new high, because well rates. $CAVA went 54 to 65 to now 54 again in the past 5 sessions because well oil but then earnings ?? Pick anything, pick AAPL or AMZN post earnings to a few days later. These are not tiny stocks. seems there is almost no room for fundamentals or…

Broken Moats

GM $75B

New Ideas From The Road

Aurelion Research NKE $57B AA $11B

Aurelion Research increased healthcare exposure and sees opportunities in banking and defense, alongside research on Alcoa, Nike, ONON and MDA Space.

Chipotle Stock: The Dip Is A Long-Term Opportunity

Seeking Alpha CMG $42B

Chipotle plans 350 to 400 annual openings and low single-digit same-store sales growth, supported by menu innovation, international expansion and its 24 million-member rewards program.

Coupang: 3Q26 Business Recap

Speedwell Memos CPNG $27B

Coupang’s product-commerce growth rose 9% as data-leak effects fade, while management expects margins to return to pre-incident levels by mid-2027.

𝕏  @StableBread

Toast's $TOST President and CFO Elena Gomez, who took it public in 2021, is leaving on December 31, the same day its CRO steps down to retire. She gave notice on October 28, and the board named SVP of Finance Michael Senno to succeed her the same day. Senno joined $TOST in 2022 after running investor relations at South Korean e-commerce company Coupang $CPNG, and his bio lists no prior CFO job.…

Fajasy

CPNG $27B

3Q26 Recap: Margin at Trough, Recovery In-sight

Speedwell Research CPNG $27B

Coupang expects Product Commerce margins to return to pre-data incident levels by mid-2027 as customer spending recovers and Taiwan investment lifts Developing Offerings losses.

𝕏  @AsifSuria

When we write about insider transactions for our weekly Insider Weekends articles, we are often focused just as much as the insider buying the stock as the company they are buying. Earlier this year, when writing about insider purchases at GeneDX $WGS, we wrote the following about Keith Meister of Corvex Management and his excellent track record with insider purchases. Last night we noticed that…

Asif Suria

MGM $7.8B

Financials

𝕏  @junkbondinvest

TeraWulf's JV sale looking very timely in hindsight... Sold its 50.1% JV stake in TX to Fluidstack for $530mm in July $WULF https://t.co/oeeG2JoHJp

junkbondinvestor

WULF $5.4B

𝕏  @junkbondinvest

Blue Owl's Tech BDC ($OTF) just posted Q3. NAV surprisingly increased, helped by $55mm of buybacks. Good on them for the conviction Meanwhile, non-accruals at cost 3x'd (0.6% to 1.8%). At fair value, they went from 0.1% to 1.1%. NII still doesn't cover the base dividend Management calls this a “strong” quarter though

junkbondinvestor

OTF $4.4B

𝕏  @ACapitalLP

I definitely wouldn’t buy the dip in $CIFR the morning after Hinojosa ousts Abbott and presumably cancels every data center project in Texas by executive decree. Would hate to accidentally own 700 MW of contracted capacity and a few billion dollars of development optionality at a distressed valuation… 🤷‍♂️

A Capital

CIFR $3.3B

𝕏  @ACapitalLP

@BrianG118u $CIFR is a 🍩 according to @SurfShopCapital

A Capital

CIFR $3.3B

Energy

Recycle Bin

Doomberg EQT $33B RRC $13B

Used aircraft engines can be repurposed as gas turbines, easing data center power constraints while tightening aviation supply. EQT’s $13 billion Range Resources deal reflects US gas producers’ rush to consolidate.

𝕏  @leevalueroach

POV $BTU management team trying to run an Australian capex pit from 26 hours away. https://t.co/7qP8C9BMYH

Lee Roach

BTU $2.7B

𝕏  @leevalueroach

Peabody $BTU collapsing faster than my "performance" in bed with my wife.

Lee Roach

BTU $2.7B

𝕏  @david_katunaric

BREAKING: $BTU management expects Centurion to turn profitable sometime this century.

Mikro Kap David

BTU $2.7B

𝕏  @StableBread

Energy Fuels' $UUUU made $54.86 of gross profit on each pound of uranium it sold in Q3, nearly 3x the $19.16 of a year ago, as its realized price rose to $88.90/lb and its cost fell to $34.04/lb. Grade at its Pinyon Plain mine in Arizona recovered to 1.04% from Q2's 0.71%, as management expected, but $UUUU mined just 385k pounds in Q3, so its unchanged 2.0-2.5M guide needs 875k-1.375M mined in…

Fajasy

UUUU $1.9B

Healthcare

Eli Lilly: The True Frontier Of Real-World AI Monetization

Seeking Alpha LLY $1.3T

Eli Lilly uses AI-driven drug discovery and its research scale to accelerate molecule development and broaden its product pipeline.

𝕏  @BarbarianCap

Novo sales boosted by Wegovy weight-loss pill $NVO https://t.co/k6UtmXHO3L

Barbarian Capital

NVO $176B

Novo Nordisk (NVO) Q3 FY 12/26 Earnings Review

Cestrian Capital Research NVO $176B

Novo Nordisk beat Q3 consensus as Wegovy pill sales reached DKK 5.4bn, raised 2026 guidance again and reported DKK 79.2bn revenue.

𝕏  @kevin__mak

$CMPS No change to my position here, still ~10% of my book. Assuming reports are right, Usona's filing was sooner than I expected, and the timing is probably because they filed without durability data. CMPS has announced on earnings that they will file within the next 2 weeks. I think both have a very high chance of getting approved, and given they both have CNPV's, the approvals should be within…

Kevin Mak

CMPS $1.2B

𝕏  @KEDM_COM

Myriad Genetics $MYGN has seen insiders (ao the CEO) add shares for the first time in quite some time. Always interesting to check out. With ~70% GMs there should be plenty of room to improve profitability at this life science and diagnostics company, and 2026 seems to be the year.

KEDM.com

MYGN $561M

𝕏  @BlueDuckCap

$STIM is up a lot. It should be up more. Neurostar back to growth +2%, call comments said 2027 will grow. New go to market is working - congrats to mgmt n phenomenal execution. Greenbrook accelerated. Still with lower occupancy on some units - lots of room to improve that. GAAP ebit profitability looks possible in 2027 (gross margins inflecting) and definitely in 2028. Cash flow+. Market still…

BDC

BWAY $451M

AirSculpt Technologies: A Curious Play On Unit Economics

Seeking Alpha AIRS $118M

AirSculpt’s procedure economics remain attractive, but high customer acquisition costs and underused clinics pressure profitability; the thesis depends on higher volume, marketing efficiency and refinancing without major dilution.

Communication Services

𝕏  @orrdavid

@RodriGo_ethe @FishtownCap I almost bought the premarket dip in $GOOG and $AMZN because yeah this was clear fantastic news for them... not sure why I chickened out...

David Orr

GOOGL $3.4T

𝕏  @aleabitoreddit

Little rant, but to show you how rampant deleveraging has become: - $CIFR is worth 44% LESS than when they announced their initial $GOOGL / $AMZN colo deals. - $AAOI is now ~ the same price BEFORE they secured major hyperscaler orders, raised $1.6B for capacity expansion and gave their suprising initial -> $378M+ projection -> ~$471M revenue forecast. - $ESMT ($2B MC) is the perfect example…

Serenity

GOOGL $3.4T

𝕏  @SouthernValue95

Lets not resort to mud slinging when we can have a nice conversation. MSFT trades at a premium to other capex spenders partially bc it has a cleaner financial profile, can piggyback on OpenAI IP, but there are lots of other reasons too: - Perception of health of core business (which caused it to be cheaper than others 6mo ago, now w/ office accel its seen as better than GOOG maybe AMZN). These…

SouthernValue

META $1.6T

𝕏  @junkbondinvest

$META debut euro deal, IPT -> final: 4Y: +140bps -> +108bps 6Y: +170 -> +140 8Y: +195 -> +165 12Y: +240 -> +208 18Y: +300 -> +268 38Y: +370 -> +338 ~EUR8.25bn across 6 tranches, ~30bps tighter across the curve, a day after a $15bn USD deal.

junkbondinvestor

META $1.6T

Consumer Staples

𝕏  @Mr_Neutral_Man

Stock can 100 bagger in 20 years and then just merely double in the next 20 years Happens a lot more often than one thinks $SYY https://t.co/Phi9iLQD2G

Mr Neutral Man aka "Howard Marks of REITs”

SYY $38B

𝕏  @BarbarianCap

Everyone is getting a pair of government-issued $CROX and a weekly six-pack of Corona $STZ

Barbarian Capital

STZ $25B

𝕏  @BarbarianCap

E.l.f. Beauty posts 51% sales increase, raises full-year guidance $ELF https://t.co/M0tbKyYyjs

Barbarian Capital

ELF $6.5B

𝕏  @StableBread

@mkfilko I will hold onto my pants until then. Worst case if you get laid off at mcd and $brun disappoints i have room in my closet 👍🏽🐵

Fajasy

BRUN $566M

Industrials

𝕏  @junkbondinvest

Looking to buy some $SPCX-backed GPU debt? Apollo and Goldman are offering slices of up to $500mm before syndication starts. Here’s the tranche pricing (per Bloomberg): A1: $8bn loan at +215 (A-) A2: $4bn bonds at +290 (A-) A3: $23bn bonds at +345 (A-) B: $5bn bonds at +395 (BBB) Meanwhile, $SPCX's existing unsecured bonds are +255...

junkbondinvestor

SPCX $1.9T

L3Harris (LHX) Q3 FY12/26 Earnings Review

Cestrian Capital Research LHX $52B

L3Harris booked $19.3 billion of Q3 orders, lifting backlog to $53.2 billion, raised FY26 guidance and cut its 2028 free-cash-flow target to $3.0 billion.

𝕏  @BrokenMoats

How the mighty concrete layer bottleneck names fall. $STRL down from over $1,000/share in May. And some still arguing if there ever was a bubble....

Broken Moats

STRL $11B

𝕏  @ACapitalLP

@Vuzhteetz $CIFR $STRL $BTU $CLSK $VRTV

A Capital

STRL $11B

Diana Shipping: The Genco Stake Pays For Most Of The Stock

Seeking Alpha GNK $1.1B DSX $300M

Diana Shipping’s Genco stake equals nearly 60% of its market cap, leaving its 36-ship fleet valued at about $1 per share as charter coverage supports earnings.

𝕏  @finphysnerd

Am long $HTZ on the short squeeze thesis. Nice hedge to my short book today. Cost to borrow is 260% rn.

Myles

HTZ $684M

Materials

Warrior (HCC): Q3 2026 Earnings

Cannibal Stocks HCC $4.3B BTU $2.7B

Warrior Met Coal’s Blue Creek mine cut costs to about $93 a ton, offsetting a wider discount for High Vol A coking coal as US supply expands.

𝕏  @leevalueroach

Graphic Paper $GPK passes along a third SBS pricing increases and calls the market tight. This is a positive read for $CLW.

Lee Roach

GPK $2.6B

Namib Minerals: Research Flash

Atrium Research - Equity Research NAMM $43M

Namib Minerals accelerates Redwing’s restart, targeting first gold this month and a ramp from 338 ounces monthly to 835 ounces by Q2 2027.

Real Estate

𝕏  @BarbarianCap

“one of the toughest housing markets in a generation.” Zillow Revenue Rises as Rentals Help Offset Weak Market for Home Sales $ZG https://t.co/XplUMZ5bvE

Barbarian Capital

ZG $7.8B

Kite Realty Group Trust: A Retail REIT With Strong Leasing Momentum In Q3

Seeking Alpha KRG $4.9B

Kite Realty Group’s 164 open-air shopping centers delivered 3.6% Q3 same-property NOI growth, backed by grocery tenants, resilient occupancy and a covered dividend.

𝕏  @Mr_Neutral_Man

@StructuredFin1 SITC was a $40 stock at one point and then spun off $CURB Someone could've had a $100mm position at a multi billion fund and just didn't know that this was even happening Happens more often than you think

Mr Neutral Man aka "Howard Marks of REITs”

CURB $3.5B

Site Centers (NYSE:SITC)

Real Assets, Real Value CURB $3.5B SITC $192M

Site Centers' $3 per-share return-of-capital distribution and December delisting leave a discounted liquidation stub, with two properties remaining and shared-services costs running through September 2027.

𝕏  @Mr_Neutral_Man

$ARI getting a pump from a VIC write up today Conveniently overlooks all taxable issues and potential state filling concerns

Mr Neutral Man aka "Howard Marks of REITs”

ARI $297M

𝕏  @Mr_Neutral_Man

Did someone fat fingered $SITC today and blew out at $3.55, like 3 million shares? https://t.co/7SrBeY1oqW

Mr Neutral Man aka "Howard Marks of REITs”

SITC $192M

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