Duquesne Family Office's billionaire boss has gone full contrarian by selling Wall Street's two artificial intelligence (AI) darlings and piling into a previously struggling pharmaceutical stock.
Paramount Skydance CEO David Ellison dismissed merger speculation, saying "there's no must-haves for us" as he prioritizes rebuilding the company internally despite a tough earnings quarter.
Ex-Obama adviser Betsey Stevenson warns of costly long-term home loans, says rates will be higher on 50-year mortgages. Economists suggest clearer view of ownership costs.
Economist Peter Schiff is pushing back against President Donald Trump's plans for an initial public offering for Fannie Mae or the Federal National Mortgage Association (OTCMKTS: FNMA) and the Federal Home Loan Mortgage Corp. (OTCMKTS: FMCC), also known as Freddie Mac.
Pinterest’s third quarter was met with a significant negative market reaction, as its results revealed both strengths and challenges. While user growth remained robust and management cited ongoing momentum in visual-first shopping and AI-powered recommendations, the company’s non-GAAP profits fell short of Wall Street expectations. CEO Bill Ready pointed to continued record user engagement, especially among Gen Z users, and highlighted the platform’s progress as an AI-driven shopping assistant. However, CFO Julia Donnelly acknowledged that larger U.S. retailers faced margin pressures due to tariffs, which contributed to a moderation in ad spend in North America.
Corcept Therapeutics’ third quarter results drew a negative market reaction as the company’s revenue missed Wall Street expectations, despite robust year-on-year growth. Management highlighted persistent capacity constraints with its former specialty pharmacy partner as a key factor limiting revenue capture. President of Endocrinology Sean Maduck explained, “Our financial results don’t fully reflect the surge in demand,” attributing recent bottlenecks to insufficient pharmacy capacity. The company has since begun transitioning to a new pharmacy, aiming to better meet rising prescription volumes and position Corcept for future growth.
Grocery Outlet’s third quarter results were met with a significant negative market response, as the company missed Wall Street’s revenue expectations and reported a notable year-over-year decline in operating margin. Management attributed the underperformance in same-store sales to late-quarter changes in promotional activity and a less effective marketing mix, which led to a slowdown in customer traffic. CEO Jason Potter described the impact of these decisions as "net negative," and emphasized the company’s focus on course correction, noting, “we’ve seen a return to weekly comp growth” after adjustments to marketing and promotions.
Supernus Pharmaceuticals reported Q3 results that were above Wall Street’s revenue and profit expectations, but the market reacted negatively, reflecting concerns over execution challenges and forward guidance. Management attributed quarterly growth to robust demand for Qelbree and GOCOVRI, as well as initial contributions from Onapgo and collaboration revenue from Zurzuvae. CEO Jack Khattar acknowledged that supply constraints for Onapgo limited the company’s ability to fully meet patient demand, describing the issue as a “high-quality problem” but one that requires urgent resolution. Management also cited higher operating expenses related to the Sage acquisition as a key factor weighing on profitability.
Rapid7’s third quarter results were met with a significant negative market response, as investors focused on signs of execution challenges and customer growth concerns. Management attributed the quarter’s performance to continued investment in its managed detection and response (MDR) segment, organizational restructuring, and a push toward platform integration. CEO Corey Thomas acknowledged, “We have fallen short of the ARR guidance that we have provided to you in recent history and thus far this year,” while highlighting ongoing efforts to accelerate growth and improve operational discipline.
Matson’s third quarter results saw revenue and profit come in ahead of Wall Street expectations, despite ongoing headwinds from lower freight rates and weaker container volumes in its China service. Management attributed the year-over-year decline primarily to “continued uncertainty and volatility arising from tariffs and global trade,” especially in the Transpacific lane, while also highlighting stable or slightly improved volumes in Hawaii and Alaska. CEO Matthew Cox explained that “operating income was lower year-over-year, primarily due to lower year-over-year freight rates and container volume in our China service,” with muted demand caused by customers advancing cargo ahead of tariff deadlines. However, Matson maintained premium pricing for expedited service and did not pass on new port entry fees to customers, reflecting a disciplined pricing approach even as utilization rates fell.
Teradata’s third quarter saw a positive market response, with management attributing the upside to progress in annual recurring revenue and improved operating efficiency. CEO Stephen McMillan emphasized the company’s acceleration in total ARR growth, citing strong customer adoption of Teradata’s AI and hybrid cloud offerings. The company’s focus on enterprise AI workloads and hybrid deployment flexibility resonated with clients across industries, while cost controls and a shift in the services business contributed to margin expansion. Management also noted the successful execution of AI services and the continued transition from migration projects to higher-value consulting.
Mercury Systems delivered third quarter results that exceeded Wall Street’s expectations, with revenue and non-GAAP profit both coming in above analyst forecasts. Management attributed this outperformance to accelerated deliveries on high-priority defense programs and improved execution across manufacturing operations. CEO William Ballhaus emphasized the company’s progress in reducing net working capital and highlighted strong momentum in its backlog of customer orders. Ballhaus stated, “Our ability to accelerate deliveries on a number of our customers' high-priority programs once again contributed to strong results this quarter.”
Pfizer’s third quarter results reflected ongoing challenges in its COVID-19 franchise, but management pointed to solid growth in non-COVID products and disciplined cost management as key drivers of performance. CEO Albert Bourla emphasized the company’s ability to deliver adjusted earnings above expectations, noting, “Our business is performing well, and we are raising the range of our adjusted diluted EPS guidance for full year 2025.” The quarter saw operational declines in legacy COVID-19 products, but new launches and established brands like Vyndaqel and Nurtec offset some of the softness, supported by ongoing productivity improvements and a focus on high-priority therapeutic areas.
Enpro’s third quarter results came in above Wall Street’s expectations, but the market reacted negatively, reflecting investor concerns about the sustainability of current trends. Management attributed the quarter’s revenue growth to strong performance in both its Sealing Technologies and Advanced Surface Technologies (AST) segments, with demand in aerospace, biopharma, and precision cleaning solutions for semiconductors leading the way. CEO Eric Vaillancourt also pointed to the company’s recent acquisitions and ongoing investments in capacity and technology as key contributors to growth. However, persistent softness in commercial vehicle markets and mixed demand in Asia and Europe weighed on overall sentiment.
Axon’s third quarter was marked by robust revenue growth and a negative market reaction, with shares falling significantly after results. Management attributed the top-line momentum to strong demand across software, services, and connected devices, driven by adoption of new AI-powered offerings and deeper customer relationships. CEO Patrick Smith emphasized the rapid uptake of Prepared and Carbyne, highlighting their immediate impact on 911 call center efficiency, while CFO Brittany Bagley pointed to broad-based international and corrections sector wins. However, management acknowledged a notable contraction in operating margin, citing tariffs and increased R&D investment as primary headwinds.
Dave’s third quarter saw revenue growth and profitability metrics that exceeded Wall Street expectations, but the market response was negative. Management attributed the quarter’s results to a combination of strategic pricing model changes and the rollout of enhancements to its CashAI underwriting platform. CEO Jason Wilk emphasized the impact of switching from an optional to a mandatory fee structure, leading to higher net monetization per transaction and improved member lifetime value. Wilk also highlighted record performance in net credit revenue and the successful deployment of CashAI v5.5, which contributed to better conversion and credit outcomes.
Agilon Health’s third quarter results showed revenue above Wall Street expectations, but profitability remained pressured due to persistent headwinds. Management attributed the quarter’s performance to ongoing execution of clinical and quality programs and cost discipline, but also highlighted the negative impact from lower-than-expected risk adjustment scores and elevated costs from exited markets. Executive Chairman Ronald Williams noted, “We were impacted by lower-than-expected in-year RAF contribution as well as continued high costs from exited markets,” underscoring the operational hurdles faced.
