FSMN

SANDISK $SNDK FISCAL Q1 ADJUSTED EPS AND REVENUE BEAT ESTIMATES • Adj EPS: $49.51 vs $46.20 est, beat • Revenue: $11.031B vs $10.639B est, beat • Adj operating income: $8.871B vs $8.44B est, beat • Adj net income: $7.624B vs $7.144B est, beat • Adj gross margin: 85.1% • EPS: $52.60

MCDONALD’S $MCD IS ROLLING OUT A NEW MIX-AND-MATCH BUNDLE AT SELECT US STORES - BLOOMBERG NEWS

COINBASE $COIN Q3 TOTAL REVENUE $1.2B, EPS $2.51 • Total revenue: $1.2B • Transaction revenue: $590M • Subscription and services revenue: $570M • EPS: $2.51

TWILIO $TWLO Q3 ADJUSTED EPS AND REVENUE BEAT ESTIMATES • Adj EPS: $1.65 vs $1.47 est, beat • Revenue: $1.56B vs $1.514B est, beat • Adj operating income: $326M • Operating income: $148.6M • Gross profit: $760.5M • EPS: $1.00 Q4 outlook: • Revenue: $1.595B-$1.605B vs $1.582B est, above • Adj EPS: $1.48-$1.53 vs $1.49 est, in line • Adj operating profit: $300M-$310M

REDDIT $RDDT Q3 REVENUE AND EPS BEAT, Q4 REVENUE OUTLOOK BELOW ESTIMATES • Revenue: $895M vs $878.4M est, beat • EPS: $1.40 vs $1.35 est, beat • Daily active uniques: 130.3M, up 12% YoY Q4 outlook: • Revenue: $1.00B-$1.03B vs $1.05B est, below • Adj EBITDA: $480M-$510M vs $512.2M est, below Reddit says search referral traffic was down meaningfully in Q3, with the decline accelerating later in the quarter and continuing into early Q4. It says current trends suggest total daily active uniques could fall in Q4 by a low-double-digit percentage from the current base of 130M. Reddit will begin testing a fully logged-in experience in select markets outside the US in Q4.

STARBUCKS $SBUX FISCAL Q4 ADJUSTED EPS BEATS, REVENUE MISSES, GLOBAL COMPS UP 7.2% • Adj EPS: $0.80 vs $0.72 est, beat • Revenue: $9.1B vs $9.228B est, miss • Global comparable coffeehouse sales: up 7.2% • North America comparable coffeehouse sales: up 7.9% • US comparable coffeehouse sales: up 7.7% • Adj operating margin: 14% • EPS: $0.59 Outlook: • FY adj EPS: $3.15-$3.25 • 2027 North America comparable coffeehouse sales growth: about 4.0%

STARBUCKS $SBUX FISCAL Q4 ADJUSTED EPS BEATS AT $0.80, REVENUE MISSES • Adj EPS: $0.80 vs $0.72 est, beat • Revenue: $9.1B vs $9.228B est, miss • Adj operating margin: 14% • EPS: $0.59

MONDELEZ $MDLZ Q3 ADJUSTED EPS BEATS AT $0.78 • Adj EPS: $0.78 vs $0.71 est, beat • Adj net income: $992M vs $906.4M est, beat • Gross margin: 39.4% • EPS: $1.02 • Net income: $1.305B

STRATEGY $MSTR Q3 EPS BEATS AT $44.75, REVENUE MISSES • EPS: $44.75 vs $8.17 est, beat • Revenue: $125.4M vs $127.2M est, miss • Bitcoin purchased year to date in 2026: $14.33B

GILEAD SCIENCES $GILD Q3 ADJUSTED EPS BEATS AT $2.55, FY OUTLOOK IS A LOSS ON ACQUIRED R&D CHARGES • Adj EPS: $2.55 vs $2.19 est, beat • Product sales: $8.289B • EPS: $1.94 • Net income: $2.429B FY outlook: • Product sales: $31B-$31.3B • Adj loss per share: $0.85-$1.20 • The loss outlook includes an impact of about $9.88 per share from $12.4B in acquired IPR&D charges

AMAZON $AMZN Q3 EPS AND NET SALES MISS ESTIMATES, AWS REVENUE GROWTH OVER 39% • EPS: $1.89 vs $1.96 est, miss • Net sales: $201.9B vs $202.308B est, miss, up 13% excluding a $0.9B unfavorable FX impact • Operating income: $28.1B • AWS: revenue growth of over 39% year over year, with a $184B revenue run rate • Free cash flow: outflow of $42.4B for the trailing twelve months Q4 outlook: • Net sales: $240B-$247B vs $244.513B est, in line • Operating income: $28.5B-$33.5B vs $33.08B est, in line Amazon continues to expect 2026 cash capex of approximately $220B. It projects AWS revenue growth of over 40% in both 2027 and 2028.

AMAZON $AMZN Q3 EPS AND NET SALES MISS ESTIMATES • EPS: $1.89 vs $1.96 est, miss • Net sales: $201.9B vs $202.308B est, miss • Free cash flow: outflow of $42.4B for the trailing twelve months Q4 outlook: • Net sales: $240B-$247B vs $244.513B est, in line • Operating income: $28.5B-$33.5B vs $33.08B est, in line

INTEL $INTC Q3 ADJUSTED EPS BEATS AT $0.52, Q4 OUTLOOK BELOW ESTIMATES • Adj EPS: $0.52 vs $0.40 est, beat • Revenue: $16.51B vs $16.50B est, in line • Adj gross margin: 44.1% vs 42.09% est, beat • Data center and AI revenue: $7.32B vs $6.49B est, beat • Client computing and physical AI group revenue: $8.1B vs $8.98B est, miss • EPS: $0.60 • Gross margin: 43% Q4 outlook: • Revenue: $15B-$16B vs $17.07B est, below • Adj EPS: $0.25 vs $0.43 est, below • Adj gross margin: 38.0% vs 42.44% est, below FY adjusted operating expenses are expected to be about $16.3B. Intel says it sees the PC slowdown continuing at least through H1 of next year. INTEL CFO SAYS KIRYAT GAT FAB EXPLOSION CUT Q4 REVENUE OUTLOOK BY ABOUT $300M CFO David Zinsner told Reuters the October explosion at the fab in Kiryat Gat, Israel, also hurt gross margins by about 200 bps. • The fab did not operate for two weeks after the explosion • Intel expects a similar revenue impact in Q1 • Intel is still assessing whether the impact will stretch beyond current estimates, and which wafers are salvageable for use and sale • Intel expects to begin ramping up production at the fab by the end of this week Per Reuters interview.

POLYMARKET ODDS OF ANOTHER FED RATE HIKE IN 2026 ARE AT 77% The odds are up 2 points on the week, with about $1.23M in volume on the market, per Polymarket. The Fed held rates at 3.75-4.00% on Wednesday in a 10-2 vote, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favor of a 25-basis-point hike.

ANTHROPIC UPDATES CLAUDE APPS WITH 33 LANGUAGES, CARPLAY VOICE MODE AND MULTI-ACCOUNT SWITCHING • Languages: 24 more on web, desktop, iOS and Android, 33 in all, including Bengali, Danish, Swahili, Thai, Turkish, Ukrainian and Vietnamese • Voice mode on iPhone now works with Apple CarPlay • Voice mode on iOS and Android answers sooner and hears speech better in noisy rooms or when users speak quietly, with more natural non-English speech and support on more Android phones • iOS and Android: users can stay signed into more than one account and switch without signing out • Android on Chromebooks, Googlebooks and foldables: resizable sidebar, trackpad and right-click support, and the same keyboard shortcuts as Claude Desktop • iPad and iPhone Duo: Claude's outputs open beside the chat and can go full screen • Coming soon on iPhone and iPad: pull down to search past chats, projects and settings

OPENAI UPDATES MODEL SPEC, REORGANIZES GUIDANCE AROUND 5 VALUES The Model Spec is OpenAI's public description of how it wants its models to behave. The five values are faithfulness to human intent, harm minimization, honesty and transparency, human agency, and care.

ALTRIA $MO FILES FOR DEBT SHELF, SIZE NOT DISCLOSED

i can honestly say ive never wanted to touch my mac screen tbh

DRUCKENMILLER SAYS HE IS AN INVESTOR IN TRADE(XYZ), WHICH IS PARTNERING WITH ICE ON US PERPETUAL FUTURES Stan Druckenmiller said trade(xyz) is partnering with Intercontinental Exchange $ICE to bring 24/7 perpetual futures on Hyperliquid to the United States. He said he looks forward to using the product to enhance his investment process. Per his post on X.

NN INC. $NNBR Q3 SALES $131.1M, ADJUSTED EPS $0.07 • Sales: $131.1M • Adj EBITDA: $18.5M • Adj income from operations: $8.5M • Adj net income: $5.3M • Adj EPS: $0.07 • Net income: -$4.6M • EPS: -$0.13 FY outlook: • Revenue: $480M-$500M • Adj EBITDA: $64M-$68M