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Published briefing
Full research review · published Aug 28, 1:41 AM ET
This is the briefing exactly as published on Aug 28, 2026. It is never edited afterwards, so figures and views in it are as of that date and may since have changed. It is a record, not current advice.
No 8/10-or-higher thesis was killed, closed, newly opened, or moved across the bar. The research maintained the high-conviction set after checking for post-review breaks. AVGO stayed at 8/10 because Broadcom's Q2 release still supports the AI semi setup: Q2 AI semiconductor revenue was $10.8B and management guided Q3 AI semiconductor revenue to $16.0B, with Q3 results due September 2, 2026 after the close (Broadcom Q2, Q3 date). MU stayed at 9/10 after Micron set fiscal Q4 results for September 30, 2026, leaving the HBM/DRAM pricing and margin durability test intact (Micron).
INSW held at 8/10: Q2 showed record net income of $295M, adjusted EBITDA of $345M, and a $5.05 dividend payable September 24 to holders of record September 10, keeping the variable-payout thesis alive (INSW). TLN held at 8/10: 2026 adjusted FCF guidance remains $1.200B-$1.350B, above the $1.1B invalidation level, and the AWS PPA still provides up to 1,920 MW through 2042 after the April 2026 transition (TLN results, TLN 10-Q). NXT held at 8/10 after Q1 FY2027 revenue of $935M, backlog above $5.5B, and FY2027 adjusted EBITDA guidance of $870M-$930M (NXT). NOW held at 8/10 after Q2 subscription revenue rose 24.5% year over year and ServiceNow AI crossed $1B in annual contract value (NOW). META held at 8/10: Q2 revenue rose 28% year over year, but 2026 capex guidance of $130B-$145B keeps the capex-return test central (META). BBIO held at 8/10 with $222.4M of U.S. Attruby net product revenue in Q2 and BBP-418's November 27, 2026 PDUFA still in view (BBIO). MLYS held at 8/10 with lorundrostat's December 22, 2026 PDUFA and $661.4M of cash, equivalents and investments expected to fund operations into 2028 (MLYS). RARE held at 8/10 after reaffirming 2026 revenue guidance of $730M-$760M and retaining UX111 and GTX-102 catalysts; FDA's August 19 accelerated approval of Genglycos adds a launch/access watch item with confirmatory-benefit risk (RARE, FDA). CCJ held at 8/10 after Cameco left 2026 uranium production guidance unchanged and Westinghouse confidentially submitted a draft S-1 on July 31, 2026 (CCJ Q2, Westinghouse S-1 notice).