Wednesday, August 26, 2026

KMI 2026-08-26

Kinder Morgan: The Consolidation Is An Opportunity Before The Next Leg Higher

KMI $70B

SA Steven Fiorillo Aug 26 3 clicks

CBRS 2026-08-26

Sizing Up Cerebras Systems: Why Its Latency Moat Makes It A Buy For Aggressive Growth Investors

CBRS $43B

SA Star Investments Aug 26 4 clicks

Big Tech Off-Balance Sheet Concerns

Big Tech’s $3 trillion AI commitments are disclosed and largely long-dated, with nearly 60% of Amazon’s $650 billion commitments falling…

Stripe’s “Singularity” and the Divergence from Adyen

Stripe’s net revenue rose 41% in 1H 2026 versus Adyen’s 21% FX-adjusted growth, fueled by AI-native startups and acquisitions including…

$ELAL: El Al is a wartime monopoly at 2x EBITDA. Is that a trap? | ASB Partners

El Al trades near 2x EBITDA after wartime near-monopoly profits, with $1.3 billion of net cash and owned aircraft weighed against…

CCC Is in the Middle of the Wreckage

CCC, the dominant auto physical-damage claims estimator, connects 27 of the top 30 insurers with 31,000 repair shops as takeout rumors…

NCLH or her grandma Saga?

Norwegian Cruise Line’s $15 billion debt and 2026-27 capex delay deleveraging, despite fuel-efficient new ships and stronger projected 2028…

Shitcos, Griftcos, and alignment versus enrichment at $IREN

IREN awarded each co-CEO roughly 9 million RSUs, about 2.5% of shares and $400 million, in exchange for no further equity grants until…

$NU: is Nubank Capital One in 1994 or Capital One in 2006? | Vanshap Capital

Nubank's 140 million customers, 20% efficiency ratio and 30% ROE frame whether its high-teens P/E reflects a scalable fintech or a maturing…

The $1.5 Trillion of Hidden Debt Fueling the AI Boom | Robin Wigglesworth of FT Alphaville

Hyperscalers’ off-balance-sheet lease and purchase obligations rose from roughly $1 trillion to $1.5 trillion, turning the AI buildout into…

Haw Par Corporation Limited

Haw Par combines Tiger Balm’s stable cash flows with property, leisure and healthcare operations plus stakes in UOB and UOL.

Brookfield's New Lawsuit

Brookfield faces whistleblower allegations over its VC funds; $569 million of Q1 buybacks challenges claims that $8 million of remaining…

Brookfield Corp. - Get a Buck for Fifty Cents

Brookfield Corp. trades at 13.2x 2025 distributable earnings and $45.97 against management’s $91.76 sum-of-the-parts Plan Value, discounted…

Under the Hood - Adobe Inc. ($ADBE)

Adobe generates 96% of revenue from subscriptions and converts over 40% into free cash flow, but generative AI tests whether Creative…

Under the Hood - Tractor Supply ($TSCO)

Tractor Supply’s 2,602-store rural retail network supported 30+ years of growth.

Under The Hood - Sprouts Farmers Market, Inc.

Sprouts Farmers Market’s 483-store fresh-food format combines dedicated distribution, curated assortments and long-built site selection,…

Under The Hood, Wingstop Inc. ($WING)

Wingstop generates most of its $697 million revenue from franchise royalties across a 3,153-restaurant, 98%-franchised system while…

Under The Hood - Rollins ($ROL)

Rollins ($ROL) pairs automatically renewing pest-control contracts with route density and family-business acquisitions, producing 24…

Under The Hood, Universal Health Services - $UHS

Universal Health Services faces a $432 million–$480 million annual Medicaid supplemental-payment hit by 2032, offset by behavioral-health…

Under The Hood: Domino's Pizza - $DPZ

Domino’s 99%-franchised model converts global retail sales into royalties and supply-chain revenue, but $4.8 billion of debt and mature…