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- Perma-Fix Environmental Services (PESI): Navigating Slipping Government Timelines and Financing Concerns
White Brook Capital's Q3 2026 investor letter highlights Perma-Fix Environmental Services (NASDAQ:PESI), which traded at $12.47 on October 21, 2026, with a market capitalization of $264.59 million and a year-to-date return of about -1.7%. The firm attributes the year's slowdown mainly to government delays, including a new treatment plant that took longer to test, paperwork holding up shipments and revised disposal instructions that left unbillable waste on site, although regular shipments resumed from July and continued through September. Perma-Fix was named one of three companies eligible for a long-term tank waste program worth up to $4.4 billion, and the firm expects it to win the lion's share given its proximity to the cleanup site. The letter says the stock embeds fear that the company may need to raise capital again before generating cash flow, and values Perma-Fix at about 2.6 times management's illustrative roughly $100 million Hanford annual revenue run rate for 2028 on about $255 million enterprise value.
- SpaceX and Tesla have high election stakes as Elon Musk pours $366 million into campaigns
Elon Musk's businesses are growing ever closer to the federal government even as he spends record sums on the 2026 midterms. According to FedScout, SpaceX has received $6.78 billion in federal work so far this year, nearly twice its $3.8 billion total for 2024. Musk has committed roughly $366 million across at least 40 races, with at least $276 million going to Republican groups and his America PAC since July, and $189.6 million aimed at helping Republican Ken Paxton in Texas. One critic argues that Musk wants favors and protection from oversight, while Musk warned on X that he will pursue those who challenge him. Musk has also given at least $6 million to state candidates and groups, including Gov. Greg Abbott.
- Why Did L3Harris Technologies (LHX) Land A $876 Million Navy Jammer Contract?
L3Harris Technologies (NYSE:LHX) has been awarded an $876 million U.S. Navy contract for the Next Generation Jammer Low Band (NGJ-LB) program, which supports accelerated development of low band electronic attack capabilities for the Navy's airborne electronic warfare systems. The award adds to L3Harris's existing airborne electronic attack work, including the AN/ALQ-99 Tactical Jamming System, and recent wins in GMLRS propulsion, VAMPIRE counter-drone systems and Wolf Pack munitions. The next phase is engineering and manufacturing development, including delivery of system demonstration test pods on the Navy's accelerated schedule. Investors can track contract milestones and updates on NGJ-LB testing progress in management's quarterly commentary.
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ABC station owners are irritated that Disney is airing the Super Bowl across several platforms, including Disney+, ESPN2, NFL Network and ESPNU, even though the game is already on ABC and ESPN. A station group CEO estimates that the combined platforms could cut broadcast ad revenue by up to 35% compared with last year. Local affiliates typically earn about 3% of annual ad revenue from the Super Bowl and pay network owners reverse retransmission fees, but Disney+ lacks geofenced ad insertion, so affiliates cannot sell ads to streaming viewers. Disney says national commercials will be identical on all platforms and that streaming major live events is standard industry practice. Super Bowl LX drew 125.6 million viewers in February.
- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
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Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
- Dune launches real-time data feeds covering 200 onchain trading venues
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- Apple’s foldable iPhone has a $2,000 app problem
Yahoo Finance Tech Editor Dan Howley has had hands-on time with Apple’s foldable iPhone Duo, which hits stores Friday. He finds the design strong, though one-handed use requires stretching your thumb, and people with small hands will likely need two hands. The matte screen hides the crease well, addressing a durability concern that earlier foldables faced, and Samsung and Google have also solved it. Howley calls the device mainly an early-adopter product, warning that apps may not look perfect at launch. He also notes it has ultra-wide and wide cameras but no zoom lens, so buyers who want zoom should consider the Pro models.
- Alphabet (GOOGL) vs. MSFT and AMZN: Can AI Investments and Google Cloud Growth Unlock a 26% Upside?
The article summarizes a bullish case on Alphabet (GOOGL) from Astute Optics - US's Substack. Shares traded at $334.76 as of October 21st 2026, with trailing and forward P/E of 17.62 and 22.83, and gained 35.20% over 12 months versus 20.50% for Amazon. Bulls point to Google Cloud revenue jumping 82% to $24.8 billion and quarterly revenue rising 24% to $119.8 billion, backed by a net cash position of $144.3 billion, while capital spending plans were raised to $195 billion to $205 billion. The average analyst price target of $422 implies roughly 26% upside, but the article warns of risks including AI spending not converting into earnings, regulatory scrutiny, AI search competition and advertising budget cuts, given over 70% of 2025 revenue came from online advertising.
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