The Feedback Loop Bonds Cannot Escape
BofA’s Hartnett says the debt-service spiral is the real threat, not the round number.
Business
The $65B Number Is About to Meet an Auditor
The public S-1 could land this month. How much ARR survives GAAP scrutiny?
Terafab Is Not a Building. It Is a Supply Chain Argument.
SpaceX and Tesla committed $16.8 billion to phase one of a 100-million-square-foot chip megafactory in Grimes County, Texas. The $119 billion ceiling gets the headlines. The execution gap is where the real trade lives.
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.
The ROIC Question Is Finally Getting Answered
JPMorgan’s latest target raise is about backlogs converting into recognized revenue.
Zebra Is Up 20% Today. The Supply Constraint Is the Real Story.
Record Q2 revenue, a 76% EPS surge, and a guidance raise that memory chips could still derail.
Snap Is Up 37% This Year, Then Not
One quarter does not fix the North America problem.
Meta Is Down 30% From Its High. Microsoft Just Showed Why.
Same AI spending race, opposite outcomes. The difference is a $678 billion backlog Meta cannot match.
BMY Reports July 30. The Patent Cliff Has a Counter-Argument.
Growth drugs now make up more than half of BMY’s revenue. The market hasn’t fully priced that.
Arm Is Down ~43% From Its High. July 29 Is the Real Test.
Data center royalties doubled. Now the Arm AGI CPU bet has to convert.