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…

Aloe Aloe Aloe what 'ave VERRA then?

Verra Mobility's new seven-year Avis agreement replaces a customer worth over 10% of revenue on materially worse economics, exposing…

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…

Jumia

Jumia’s January 2028 $7/$15 call spread risks $1.15 for up to $6.85 if cost cuts and marketplace growth deliver adjusted EBITDA and…

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…

Thinking aloud about Google remedies

Justice Department remedies could bar Google from using location data it cannot share, weakening targeted ads and traffic routing despite…

Nvidia, Nano-X and the interpretation of 13F filings

Nvidia’s $380,000 Nano-X stake came from Zebra Medical Vision’s acquisition and is managed by another reporting person, undermining the 50%…

Sarepta Risk and the FDA

Sarepta’s Exondys 51 approval despite a 12-patient trial frames FDA regulatory risk and a call to remove Commissioner Robert Califf.

Does anyone remember when Alnylam went up 50 percent in a day on a phase three result

Alnylam’s 2022 50% phase-three gain faces FDA advisory-panel scrutiny over its amyloidosis drug’s label extension.

Purecycle and the good money after bad decision...

PureCycle’s largest shareholder, Sylebra Capital, keeps financing its delayed, over-budget plastic-recycling plant despite covenant…

We can get some extra votes. Pity they are worthless and scumbags are in charge of governance.

Campari’s five-year loyalty plan grants five votes per share, letting its controlling shareholder sell stock while retaining control and…

Too Many Cooks Spoil The Pot

Baron’s BARAX and BGAFX hold SpaceX at a $1.25 trillion valuation, creating a potential NAV uplift if its IPO prices higher.

Kazakhstan, Japan, and Trimming a Winner

Kaspi.kz’s 850 KZT ADS dividend establishes a roughly 9% yield after Hepsiburada spending; Japanese buyback disclosures test whether 0.61x…

Earnings Updates and A Software Shot in the Dark

Ategrity Specialty’s 30% premium growth, stable reserves and $50 million buyback target an undervalued, thinly traded specialty insurer.

Tis The (Earnings) Season

Argentine banks, tariff-exposed stocks and Customer’s Bancorp anchor an earnings-season watchlist after Milei’s election victory,…