The Feedback Loop Bonds Cannot Escape
BofA's Hartnett says the debt-service spiral is the real threat, not the round number.
Economy
ETON’s 43% EBITDA Margin Is the Number Wall Street Missed
Revenue doubled. The margin story behind it is what changes the long-term math.
MRNA Doubled on Data Nobody Has Seen Yet
INTerpath-001 topline moved the stock 177% in one day. Hazard ratios, p-values, and survival curves were not released.
Four Memory Stocks at the Center of AI’s Biggest Bottleneck
HBM is sold out. DRAM is tightening. These four companies are not equally priced for what comes next.
WMT Reports Thursday. The Margin Gap Matters
Walmart’s $6.4B ad business, Sparky’s 35% AOV lift, and a four-point operating leverage spread decide whether this is retail or…
OpenAI Hit $40B. Now Price the Loss.
The doubling is real. So is the loss it will take to get there.
Your Wallet vs. the Fed’s Next Move
A 9-3 vote, a 3.4% CPI reading, and a September decision that will price every loan you carry.
66 Jurisdictions Cleared. One Courtroom Holds the Deal.
The UK cleared Paramount's WBD deal. The ticking fee that starts October 1 is the only number that matters now.
NVDA Is Up 10% This Week. August 26 Is the Only Number That Matters.
SpaceX went exclusive, hyperscalers raised capex again, and the stock is still 8% below its all-time high. Here is what…
Starlink Is Funding a Black Hole
SpaceX’s profitable segment posted $1.66B in operating income last quarter. AI infrastructure took $15.8B of capex. That math has a…