$WFC Wells Fargo - Capital Priorities and ROTCE Target the Key Focus Points in Conference Update Summary: We view the balanced messaging on capital deployment and the focus on the medium-term ROTCE target as the key takeaways from CEO Charlie Scharf's comments this morning at a

$GS The Goldman Sachs Group - Strong Business Momentum Driven by Continued M&A Deal Flow Summary: Key takeaways from CFO Denis Coleman's comments at a competitor's conference revolve around capital markets and alternatives momentum expected to continue into 2026, with strong

$JPM J.P. Morgan Chase and Company - Getting the Bad News Out of the Way Summary: At face value, the initial 2026 expense guide ($105B) is a -5% EPS drag to consensus (and driver of -4% decline in JPM stock today), though we take it with a grain of salt given corresponding

$HIPO Hippo Holdings - Updating to Align with New Reporting Structure; Estimates and Target Up Slightly Summary: Following 3Q earnings, we raise our forward estimates slightly incorporating the 3Q beat and narrowly better underwriting margins. To align with the company's

$LGND Ligand Pharmaceuticals - Investor Day Recap: Operationally Light Business Model Generates Diversified, De-Risked Compounding Growth and Profitability Summary: Despite meaningful appreciation, we remain positive on LGND shares with performance commensurate with strong

$AVAV AeroVironment - F2Q Recap: Strong Revenue & Bookings Mixed in with some Government Shutdown Timing Bumpiness Summary: AVAV’s FQ2 showcased strong organic growth (+21%) and a record surge of new orders (+$1.4b, book-tobill of 3.0). Muddying the upside in revenue/order were

$C Citigroup - The Path to 10-11% Becomes Clearer Summary: Mark Mason, current CFO, and Gonzalo Luchetti, Head of USPB and incoming CFO, presented at a competitor's conference earlier today. Sentiment was fairly mixed, with near-term softness in the markets business being

$SPG Simon Property Group - Takeaways From Meeting with SPG Management

$CPB The Campbell’s Company - FY26 Reiterated, Competitive Activity in Soup and Snacking Stabilization Are Watch-Outs Summary: Campbell reported a solid first quarter including a -1% organic sales decline and EPS of $0.77, which was $0.02 ahead of our estimate. The organic sales

$CRUS Cirrus Logic - First Auto Haptics Launch—Leveraging Mobile IP to Drive Premium Cockpit Experiences

$CCL Carnival Corporation - F4Q25 Preview: ND/Bama CFP Exclusion/Inclusion Has Less Debate Vs. Will CCL’s Initial Yield/Cost Spread Be Positive/ Negative? Summary: Flat out nervous. That would be the best phrase we can use to describe how we feel heading into CCL’s first crack

$BRZE Braze - No Disruption Here: In-Period DBNR Improvement Highlights A Strong Quarter Summary: As we approach the end of the 3Q reporting cycle, Braze closed the group on a high-note. The top-line beat was the largest organic absolute beat the company has reported in eight

$MRVL Marvell Technology Group - Announces AEC Acceleration Initiative: Golden Cable Summary: On December 9, 2025, MRVL announced a strategic initiative to accelerate time-to-market for Active Electric Cable (AEC) hyperscale AI infrastructure. The Golden Cable initiative offers

From 1973 to 1980, $MCD EPS compounded at >20%/y, yet the stock price halved due to massive P/E multiple compression from 72x to 8x. Conversely, from 1980 to 1990, EPS compounded at ~15%, but the stock appreciated ~25%/y as the multiple expanded from 8x to 18x.

$ELAN Elanco Animal Health Incorporated Investor Day Top-Ten Takeaways - Reasons Below Highlight Our Ongoing Bullish Stance