At under seven times forward earnings, with the share count structurally shrinking and a third-quarter consensus that requires a collapse four quarters of cash receipts contradict, the stock is mispriced to the upside, and the November print is the most likely thing to correct...
Read Article ›SharkNinja's operating problem this year was making enough product, and the market's residual habit of grouping it with builders and big-ticket retailers understates what the holiday quarter can deliver.
Read Article ›The market has assigned MercadoLibre the multiple of a business whose profitability has been permanently reset, while the disclosures show a company deliberately buying engagement, logistics density and a 20%-plus-margin loan book with money it could stop spending in a quarter...
Read Article ›The signed backlog says the consensus deceleration curve is too steep, and while that gap persists the stock can grind higher on upward revisions rather than on further multiple expansion. That is the constructive case, and it is a real one: bookings running ahead of revenue, ...
Read Article ›The market is treating a normalizing-from-peak renewable-diesel earner as a fluke and pricing the whole enterprise as a commodity rendering play, when the balance sheet is de-risking fast, the buyback retires a tenth of the float, and the collagen core compounds on its own clock.
Read Article ›What the selloff underweights is that Microsoft has run this play before — it absorbed margin compression during the first Azure buildout and methodically clawed it back as utilization improved — and this time it holds more levers. The first is silicon. Its Cobalt CPU is now d...
Read Article ›The market is pricing Match Group as a melting ice cube. The leading indicators say the ice has stopped melting — and the cash machine underneath is being badly underrated. Match Group is a portfolio of dating apps wrapped around two assets that matter and a long tail that mos...
Read Article ›General Dynamics ended the year with a backlog of $118 billion and an estimated potential contract value of $60.9 billion, representing management& 39;s estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options. ...
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