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Published briefing
Full research review · published Aug 26, 2:17 PM ET
This is the briefing exactly as published on Aug 26, 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.
The 8/10 shortlist held intact with no new ideas opened, no kills, and no conviction crossing through the bar. AVGO stayed at 8/10 for the 3m horizon because the fiscal Q3 catalyst remains September 2, 2026 after close, with the thesis still anchored to the prior $10.8B Q2 AI semiconductor revenue baseline and the expected $16.0B Q3 AI semiconductor revenue guide. MU stayed at 9/10 for the 1y horizon because no evidence in the run showed a DRAM/NAND pricing rollover or a revenue/gross-margin guide-down before the fiscal Q4 check.
INSW stayed at 8/10 for the 3m horizon: Q2 showed $295M net income, $345M adjusted EBITDA, a $5.05 September dividend, and an at-least-85% payout policy, while TD3C at about $481k/day remained far above the roughly $35k/day break signal. The risk is explicit: the 10-Q warns strong tanker rates are unlikely to be sustainable once conditions normalize.
CCJ stayed at 8/10 for the 1y horizon with long-term uranium at $95.50/lb on July 31, 2026, above the $75 invalidation floor, and 2026 uranium production guidance unchanged at 19.5-21.5M lb. Westinghouse remains a value-surfacing catalyst after its July 31, 2026 confidential S-1 submission.
NOW stayed at 8/10 for the 1y horizon after Q2 subscription revenue reached $3.877B, subscription growth was 23% in constant currency, cRPO was $13.20B, and ServiceNow AI crossed $1B of ACV. META stayed at 8/10 for the 1y horizon after Q2 revenue rose 28% to $60.801B, ad impressions rose 14%, average price per ad rose 12%, and 2026 capex guidance was $130-$145B. BBIO stayed at 8/10 for the 1y horizon after Q2 total revenue of $243.7M included $222.4M of U.S. Attruby net product revenue and BBP-418 remained under Priority Review with a November 27, 2026 PDUFA and no advisory committee planned.
Near-term checks are concentrated in dated catalysts: AVGO fiscal Q3 on September 2, 2026; INSW dividend dates on September 10 and September 24; RARE UX111 PDUFA on September 19 and GTX-102 data in September or October; MLYS ICER review on October 29 and lorundrostat PDUFA on December 22; BBIO BBP-418 PDUFA on November 27; NOW and META Q3 earnings on October 28; NXT Q2 FY2027 earnings on October 22; TLN FERC/PJM window around September 15 and Q3 update around November 18; and CCJ Q3 uranium, production, contract-book, and Westinghouse updates in early November.