All research reports
1271 reports across 261 companies
2026-11-07
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Toyota Motor Corporation (TM)
Recap: Q2 FY27 A ¥500bn Raise the Yen Did Not Pay For, and Both of Our Downgrade Triggers: North America Slips Back Into Loss, China Reaches the P&L, and a 14% Rally Takes the Margin of Safety With It -
Berkshire Hathaway (BRK-B)
Recap: Q3 2026 Downgrading to Underperform: GEICO Tripped Our Trigger, and an AI Rotation Lifted the Stock to 1.6x Book, 13% Above Where Berkshire Itself Was Buying -
Enbridge (ENB)
Recap: Q3 2026 Gas Carried the Quarter, the Mainline Slipped, and the Yield Reached Our Upgrade Line
2026-11-06
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Airbnb (ABNB)
Recap: Q3 2026 The Fastest Growth in Three Years and Another Guide Raise, With the Cash Still in Transit -
Entravision Communications Corporation (EVC)
Recap: Q3 2026 ATS Holds Near 20% Margins as Entravision Weighs a Future Without Univision -
IREN Limited (IREN)
Recap: Q1 FY27 IREN’s AI Cloud Ramp Is Real, but the Next Handoff Slips -
Monster Beverage Corporation (MNST)
Recap: Q3 2026 The Category Came Back and Monster Did Not: US Share Slipped as Adjusted Operating Margin Compressed for a Fourth Quarter -
Cloudflare (NET)
Recap: Q3 2026 Best Quarter Ever Meets a 32% Drawdown: The Price Finally Pays for the Story -
Opendoor Technologies (OPEN)
Recap: Q3 2026 Opendoor Finds Sellers Faster Than It Can Clear Homes -
Aemetis (AMTX)
Recap: Q3 2026 Aemetis’s dairy credit reset brings interest coverage closer -
Canadian Natural Resources Limited (CNQ)
Recap: Q3 2026 Canadian Natural Beats Its Own Debt Date and Puts C$800 Million a Month on the Buyback -
ConocoPhillips (COP)
Recap: Q3 2026 Permian Gas Is Back Above Zero and the Dividend Is Up 11%, but the Share Price Still Assumes the War Continues -
Duke Energy Corporation (DUK)
Recap: Q3 2026 Carolinas Settled, Guidance at the Top End, and Not One New Data-Center Contract -
IMAX Corporation (IMAX)
Recap: Q3 2026 The Odyssey Proved IMAX’s Earnings Power. The Next Test Is a Broader Slate -
Parker-Hannifin Corporation (PH)
Recap: Q1 FY27 A Raise Bigger Than the Beat, on a Stock 17% Cheaper Than Our Last Note: Upgrading to Outperform -
The Southern Company (SO)
Recap: Q3 2026 The Operating Beat We Asked For Arrived: Upgrading, With Georgia's Pricing Review Six Weeks Out -
Sony Group Corporation (SONY)
Recap: Q2 FY27 Spider-Man Turns Sony's Beat Operational, but the Stock Got There First -
Unity Software (U)
Recap: Q3 2026 Vector Doubles Its Growth Guide and Takes Unity Into GAAP Profit -
Uber Technologies (UBER)
Recap: Q3 2026 Mobility Missed, the M&A Window Closed, and Per-Share Growth Is Guided to Re-Accelerate: Upgrading to Outperform -
QUALCOMM (QCOM)
Recap: Q4 FY26 Apple and Huawei Renewed, Data Center Finally Billing: Upgrading Qualcomm Into the Chip Selloff
2026-11-05
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Novo Nordisk A/S (NVO)
Recap: Q3 2026 Third Raise, First Narrowing of the US Obesity Gap, and a Medicare Bridge That Expires in 2027 -
MercadoLibre (MELI)
Recap: Q3 2026 The Gross Margin Stopped Falling, the Operating Margin Did Not: MercadoLibre De-Rates Below Where We Initiated -
McDonald's Corporation (MCD)
Recap: Q3 2026 Maintaining Hold: The Revenue Miss and the EPS Beat Have the Same Cause, and the U.S. Value Fix Is a 2027 Event -
McKesson Corporation (MCK)
Recap: Q2 FY27 The Core Engine Finally Steps Up, and the Share Price Has Already Spent It -
Centrus Energy Corp. (LEU)
Recap: Q3 2026 Centrus Hit Its 2026 Build Milestones Early and Halved Anyway: The Risk Moved to a Lease Expiring in Eleven Months -
Emerson Electric Co. (EMR)
Recap: Q4 FY26 Orders Grew 14%, the Guide Grew 5%, and One Backlog Disclosure Explains Why -
Datadog (DDOG)
Recap: Q3 2026 Datadog Guided to a Floor, Not a Forecast: Upgrading on a 14% Sell-Off and the Best Operating Quarter in Coverage -
CVS Health Corporation (CVS)
Recap: Q3 2026 The Quarter Cleared Both Our Upgrade Triggers and the Stock Fell 12.5% on a Breakup Nobody Priced -
Circle Internet Group (CRCL)
Recap: Q3 2026 Arc Shipped and Funded the Beat. The Reaffirmed Guide Prices a 600bp Q4 Margin Cliff. -
Chime Financial (CHYM)
Recap: Q3 2026 ARPAM Finally Inflects and Every August Commitment Lands, But Chime Just Bought the Charter It Told Us It Would Never Need -
AppLovin Corporation (APP)
Recap: Q3 2026 The Quarter Management Promised, Delivered: Gaming Re-Accelerates to Nearly 50% on a Partial Model Rollout, Guide Cleared by $100M, Buyback Rises 2.5x. Upgrading to Outperform. -
Arm Holdings plc (ARM)
Recap: Q2 FY27 The Multiple Halved, and So Did the Reason to Pay It -
Block (XYZ)
Recap: Q3 2026 Actives Moved and the Mystery Reserve Is a $764M DOJ Deal the Call Never Mentioned -
Ferrari N.V. (RACE)
Recap: Q3 2026 Order Book Enters 2028 and the Americas Stabilize, But the Guidance Raise Only Matched the Street -
Luckin Coffee (LKNCY)
Recap: Q3 2026 Margin Expansion Finally Comes From Somewhere Other Than Delivery, and the Board Adds Another US$500 Million -
Hagerty (HGTY)
Recap: Q3 2026 The Underwriting Improvement Is Real, and a 17.7% Two-Day Re-Rating Has Already Spent It -
Duolingo (DUOL)
Recap: Q3 2026 Duolingo Fixed the Funnel and Killed Max: Users Accelerated to 29%, the Stock Re-Rated 26%, and the Constraint Moved to Monetization -
Tempus AI (TEM)
Recap: Q3 2026 Real Leverage at Last: Record EBITDA and Positive Operating Cash, Against a Multiple That Re-Rated 51% in Eleven Weeks -
ON Semiconductor Corporation (ON)
Recap: Q3 2026 The Dilution Reserve Comes Off and the Multiple Comes Down: Maintain Outperform on onsemi at 15x FY27 -
Marriott International (MAR)
Recap: Q3 2026 Marriott's Hotel Network Grew Again. The Stock Got There First. -
Itaú Unibanco Holding S.A. (ITUB)
Recap: Q3 2026 Itaú Delivered the Quarter It Promised. The Election Raised the Hurdle It Has to Clear. -
The Williams Companies (WMB)
Recap: Q3 2026 Momentum and Socrates Arrive Early, Then the Stock Sells With the AI-Power Trade: At $67.86 the Bear Case Is the Price -
Marathon Petroleum Corporation (MPC)
Recap: Q3 2026 Management Now Calls the Cycle to 2030, Then Sells Two Refineries at a Mid-Cycle Price -
The Progressive Corporation (PGR)
Recap: Q3 2026 Downgrading Progressive to Underperform: The Margin Slide Is Bigger Than the Headline, and the Stock Has Rallied Past Fair Value -
Vertex Pharmaceuticals (VRTX)
Recap: Q3 2026 Vertex's Guidance Raise Is Bought, Not Grown, and the Fourth Quarter Carries the Crinetics Bill -
Booking Holdings (BKNG)
Recap: Q3 2026 Booking's Operations Re-Accelerated While Its Stock Fell 25%: Upgrading to Outperform Through a $1 Billion FTC Charge and a Flat Fourth Quarter -
Eaton Corporation plc (ETN)
Recap: Q3 2026 Eaton Raises for the Third Time as Orders Accelerate; the Americas Margin Step Lands 20 bps Short, and We Stay Outperform -
Pfizer (PFE)
Recap: Q3 2026 Pfizer Beat and Raised Again, but at $30 the Market Has Already Paid for the Turnaround -
Shopify (SHOP)
Recap: Q3 2026 A Clean Quarter, a Costlier Q4: The Guide Breaks Shopify's Leverage Run, and We Downgrade to Hold
2026-11-04
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Amgen (AMGN)
Recap: Q3 2026 Three Phase 3 Wins Lift Amgen's Growth Case Beyond MariTide, but Denosumab Steepens to a 45% Decline and the Stock Already Trades at 20.5x -
Arista Networks (ANET)
Recap: Q3 2026 58.5% Growth, an $18.5B 2027 Guide, and a Shrinking Deferred Pool: Downgrading Arista to Hold -
Palantir Technologies (PLTR)
Recap: Q3 2026 Revenue +96% and a Bigger Guide, but Bookings Grew 6% and the Margin Slipped Again: Downgrading to Hold -
Advanced Micro Devices (AMD)
Recap: Q3 2026 Same Price as August, a Far Bigger 2027: Upgrading AMD to Outperform -
Apple (AAPL)
Recap: Q4 FY26 Record Revenue, Flat Earnings: December's Margin Guide Points FY27 Below FY26 as the Stock Sets a New High; Downgrading to Underperform