⁠Quiver Quantitative
We should be getting quarterly portfolio updates from Warren Buffett, Michael Burry, and Bill Ackman in the next few hours.

Check out the Quiver mobile app if you want to receive notifications on their new holdings as soon as we get them. https://t.co/N7ZO4R61tE
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⁠Wall St Engine
$DOCS | Doximity Q4'25 Earnings Highlights

🔹 Revenue: $138.3M (Est. $134.03M) 🟢; UP +17% YoY
🔹 Adj EPS: $0.38 (Est. $0.27) 🟢
🔹 Subscription Rev: $131.9M; UP +17% YoY

FY26 Guidance:
🔹 Revenue: $619M–$631M (Est. $639.4M) 🔴
🔹 Adjusted EBITDA: $333M–$345M

Q1 FY26 Guidance:
🔹 Revenue: $139M–$140M (Est. $143.4M) 🔴
🔹 Adjusted EBITDA: $71M–$72M

Other Metrics:
🔹 Adj EBITDA: $69.7M; UP +24% YoY (Margin: 50.4%, vs. 47.8% YoY)
🔹 Non-GAAP Net Income: $77.7M; UP from $51.0M YoY (Margin: 56.2%, vs. 43.2%)
🔹 Operating Cash Flow: $98.5M; UP +54% YoY
🔹 Free Cash Flow: $97.0M; UP +56% YoY

CEO Jeff Tangney's Commentary:
🔸 “We closed out fiscal 2025 on a high note, with record engagement, strong profits, and 20% annual revenue growth.”
🔸 “Our newsfeed, workflow, and AI tools all hit fresh highs in Q4, helping doctors save time and provide the best care for their patients.”
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⁠Wall St Engine
$AMAT | Applied Materials Q2 Earnings Highlights

🔹 Revenue: $7.10B (Est. $7.12B) 🔴; UP +7% YoY
🔹 Adj EPS: $2.39 (Est. $2.31) 🟢; UP +14% YoY
🔹 Adj Gross Margin: 49.2% (vs. 47.5% YoY)

Q3'25 Guidance:
🔹 Revenue: $6.7B–$7.7B (Midpoint Est. $7.2B) 🟡
🔹 Adjusted EPS: $2.15–$2.55 (Est. $2.31) 🟡
🔹 Adjusted Gross Margin: ~48.3%

Segment Performance:
Semiconductor Systems:
🔹 Revenue: $5.26B; UP from $4.90B YoY
🔹 Adj Operating Income: $1.91B (Margin: 36.4%)

🔸 Segment Mix:
  • Foundry/Logic/Other: 65%
  • DRAM: 27%
  • Flash Memory: 8%

Applied Global Services:
🔹 Revenue: $1.57B; UP from $1.53B YoY
🔹 Adj Operating Income: $446M (Margin: 28.5%)

Display:
🔹 Revenue: $259M; UP from $179M YoY
🔹 Adj Operating Income: $68M (Margin: 26.3%)

Corporate & Other:
🔹 Unallocated Revenue: $20M
🔹 Corporate Expense: -$245M

CEO Gary Dickerson's Commentary:
🔸 “High-performance, energy-efficient AI computing remains the dominant driver of semiconductor innovation, and Applied is working closely with our customers and partners to accelerate the industry’s roadmap. We are very well positioned at major technology inflections in fast-growing areas of the market, which supports our multi-year growth trajectory.”

CFO Brice Hill's Commentary:
🔸 “Despite the dynamic economic and trade environment, we have not seen significant changes to customer demand and are well-equipped to navigate evolving conditions with our robust global supply chain and diversified manufacturing footprint.”
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⁠Wall St Engine
BILL ACKMAN'S PERSHING EXITS NIKE $NKE IN Q1: 13F https://t.co/zVX4VgWA1z
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⁠Wall St Engine
WARREN BUFFETT'S BERKSHIRE HATHAWAY JUST FILED A 13F UPDATING HIS PORTFOLIO FOR Q1'25.

Adds: $POOL, $STZ, $DPZ, $OXY, $SIRI, $VRSN
Exits: $NU, $C
Reductions: $CHTR, $DVA, $COF, $BAC, $TMUS, $FWONK

HERE’S A LOOK AT ALL HIS HOLDINGS: https://t.co/ftcQu3lJcv
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⁠Wall St Engine
$TTWO | Take-Two Interactive Q4 Earnings Highlights

🔹 Net Bookings: $1.58B (Est. $1.55B) 🟢; +17% YoY
🔹 Adjusted EPS: $1.08 (Est. $1.12) 🔴

Full-Year Outlook:
🔹 Net Bookings: $5.9B–$6.0B (Est. $7.8B) 🔴
🔹 Adjusted EPS: $2.45–$2.70 (Est. $6.87) 🔴
🔹 GAAP Revenue: $5.95B–$6.05B
🔹 GAAP Net Loss: $(499)M to $(439)M
🔹 GAAP EPS: $(2.79) to $(2.45)
🔹 EBITDA: $508M–$562M
🔹 Operating Cash Flow: ~$130M
🔹 CapEx: ~$140M

Q1'26 Outlook:
🔹 Adjusted EPS: $(0.78) to $(0.65) (Est. $(0.78)) 🟡
🔹 Net Bookings: $1.25B–$1.30B (Est. $1.28B) 🟡
🔹 GAAP Revenue: $1.35B–$1.40B
🔹 EBITDA: $114M–$136M
🔹 GAAP Net Loss: $(139)M to $(115)M
🔹 GAAP EPS: $(0.78) to $(0.65)

Other Key Q4 Metrics:
🔸 Net loss includes $3.55B goodwill impairment and $176M in acquisition-related charges
🔹 Recurrent Consumer Spending: +14% YoY; 77% of total Net Bookings
🔹 Operating Expenses: $4.58B, including impairment and reorganization charges

Top Game Contributors (Q4 + FY25):
🔸 NBA 2K25 and 2K24
🔸 Grand Theft Auto V and Online
🔸 Civilization VII
🔸 Red Dead Redemption 2 and Online
🔸 Toon Blast, Match Factory!, Empires & Puzzles, WWE 2K25
🔸 Hyper-casual mobile portfolio

Strategic & Product Pipeline Updates:
🔸 CEO expects record Net Bookings in FY27 with GTA VI launch

Strong pipeline across labels, including:
🔸 Civilization VII (June 5) on Switch 2
🔸 Mafia: The Old Country (Aug 8)
🔸 Borderlands 4 (Sep 12)
🔸 NBA 2K26, WWE 2K26
🔸 GTA VI (May 26, 2026) on PS5/Xbox Series X|S
🔸 WWE 2K Mobile (Netflix), CSR 3, Judas, Project ETHOS

CEO Commentary:
🔸 “Our Fiscal 2026 outlook reflects continuing positive momentum, with Net Bookings guidance of $5.9 to $6.0 billion. As we bring our exciting lineup to market, including Grand Theft Auto VI in Fiscal 2027, we expect to achieve record levels of Net Bookings that will establish a new baseline for our business and set us on a path of enhanced profitability.”
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⁠Wall St Engine
$CAVA | Cava Group Q1 Earnings Highlights

🔹 Revenue: $331.8M (Est. $280.93M) 🟢; UP +28.2% YoY
🔹 Adj EPS: $0.22 (Est. $0.02) 🟢

FY25 Guidance:
🔹 Adjusted EBITDA: $152M–$159M (Raised from $150M–$157M) 🟢
🔹 Net New Restaurant Openings: 64–68 (Prev. 62–66)
🔹 Same Restaurant Sales Growth: 6.0%–8.0% (Reaffirmed)
🔹 Restaurant-Level Profit Margin: 24.8%–25.2% (Reaffirmed)
🔹 Pre-opening Costs: $14.5M–$15.5M (Prev. $14.0M–$15.0M)

Other Q1 Metrics:
🔹 Adj EBITDA: $44.9M (vs. $33.3M YoY); Margin: 13.5%
🔹 Free Cash Flow: $2.7M
🔹 Net Cash from Operating Activities: $38.6M

Operational Metrics:
🔹 CAVA Same Restaurant Sales Growth: +10.8%
  • Traffic Growth: +7.5%
  • Menu Price & Mix: +3.3%
🔹 Restaurant-Level Profit: $82.3M; UP +27.4% YoY
🔹 Restaurant-Level Profit Margin: 25.1% (vs. 25.2% YoY)
🔹 Digital Revenue Mix: 38.0%
🔹 Average Unit Volume (AUV): $2.9M (vs. $2.6M YoY)

Store Growth:
🔹 Net New Restaurant Openings: 15
🔹 Total Restaurants: 382 (UP +18.3% YoY)
🔸 Entered new market: Indiana — now in 26 states + DC

CEO Brett Schulman’s Commentary:
🔸 “In spite of economic uncertainty and challenging weather, CAVA’s first quarter results demonstrate the continued strength of our category-defining brand.”
🔸 “We’ve surpassed $1 billion in trailing-twelve-month revenue — a milestone that affirms Mediterranean as the next large-scale cultural cuisine category.”
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⁠Wall St Engine
MICHAEL BURRY JUST FILED HIS Q1'24 13F — HE’S NOW ONLY HOLDING ESTEE LAUDER $EL WITH A 50% ALLOCATION, AND THE REST IS IN CASH. HE SOLD OFF ALL HIS CHINA STOCKS.

LAST TIME HE MADE A MOVE LIKE THIS WAS BACK IN 2022. https://t.co/wgxuUEMHzO
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⁠Quiver Quantitative
BREAKING: Warren Buffett just filed a portfolio update.

Full holdings up on Quiver. https://t.co/WbjddDt2hL
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⁠Wall St Engine
BILL ACKMAN’S PERSHING SQUARE CAPITAL MANAGEMENT JUST FILED ITS Q1'24 13F.

HE SOLD OFF HIS ENTIRE POSITION IN $NKE, & ADDED $UBER — NOW HIS NUMBER ONE HOLDING.

HERE’S A LOOK AT HIS FULL PORTFOLIO: https://t.co/InWXLQ4zFj
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⁠Wall St Engine
DAVID TEPPER'S APPALOOSA MANAGEMENT JUST FILED A 13F UPDATING ITS PORTFOLIO FOR Q1'24.

HERE’S A LOOK AT ALL HIS HOLDINGS & ACTIVITY: https://t.co/YbPlpUyFuO
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