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Eaton reported record quarterly sales of $8.5 billion in Q2, up 21% year over year, with organic growth of 14% and free cash flow up 22% to $874 million. Demand from data centers, grid modernization and power infrastructure is lifting its electrical equipment businesses, with Electrical Americas reaching record sales of $4 billion and rolling 12-month orders rising 41% organically. Aerospace sales grew 13% to $1.2 billion, and Eaton plans to separate its Mobility business in the first quarter of 2027. After raising its 2026 organic growth guidance to 11%–13% and adjusted EPS guidance to $13.40–$13.60, the stock, closing at $381.98 on Oct. 20, trades at 28.3 times expected 2026 adjusted earnings. The author says that is not cheap for an industrial company, but argues that double-digit growth and strong margins help explain why investors are willing to pay a premium.
- Taiwan Semiconductor Is Set to Cash in on AI. Here's What a $5,000 Investment Could Be Worth by 2030.
The article argues that Taiwan Semiconductor (TSM), the world's largest chip foundry, stands to benefit strongly from AI infrastructure spending. The company has committed $265 billion to expanding US chip production capacity, and CEO C.C. Wei said demand is "very extremely robust" and that AI chip growth could be higher than earlier guidance in the high-50% range for 2024 through 2029. Nearly 70% of Q3 business came from high-performance computing and about 20% from smartphones. The author assumes 35% annual revenue growth through 2030 and a 50% profit margin, with the stock valued at 25 times earnings, implying a market cap of $6.5 trillion versus $2.2 trillion today and a $5,000 investment growing to about $15,000.
- In pictures: Initially peaceful protests across France over inequality again descend into violence
Mostly peaceful protests across France over rising living costs and inequality turned violent again at the weekend. France's Interior Ministry said 410,000 people joined rallies in several major cities, including Paris. In Paris, riot police used tear gas and water cannon against about 500 hooded youths throwing stones, while in Marseille, youths blocked streets, set fire to bins and threw rocks and bottles at police. The protests began when high school students in suburban Paris complained about poor school conditions, including teacher shortages. The yield on France's 10-year bond rose above 5% for the first time since 2002, settling at about 5.03% on Friday, and some investors fear the debt problems could spread across the euro zone.
- Cathie Wood Just Poured Millions Into 2 Nuclear Stocks -- and Neither Was NuScale Power
Ark Invest funds run by Cathie Wood bought shares of X-Energy and Oklo this week, though none of its ETFs hold NuScale Power. On October 22, ARK Innovation ETF (ARKK), ARK Autonomous Tech & Robotics ETF (ARKQ) and ARK Space & Defense Innovation ETF (ARKX) bought 292,022, 126,437 and 66,436 X-Energy shares, an estimated $5.1 million total at an assumed average price of $10.48. Purchases continued on Wednesday, adding about $2.2 million of X-Energy stock through ARKQ and ARKX. ARKQ also bought 150,998 Oklo shares on October 22, valued at about $4.1 million as the stock traded between $26.36 and $28.20. The article notes that neither company has started commercial SMR operations, so both carry higher risk, and cautions against blindly following other investors' buying activity.
- Gold Royalty Fell While It Turned A Profit
Gold Royalty reported record Q1 2026 revenue of US$7.2 million and net income of US$1.8 million, along with a larger undrawn credit facility and a reaffirmed multi-year production outlook. In Q2 2026, revenue was US$6.7 million with net income of US$1.8 million, versus US$3.8 million in revenue and a US$0.8 million loss a year earlier, and net margin moved from a loss-making 21.7% to a positive 26.5%. Even so, the shares fell from US$4.04 at the start of the year to US$2.83, leaving investors who held since then down 30.6% including dividends. At the start of the year, the bullish view put fair value at US$6.03 and the bearish view at US$3.25, and the article says the key question is whether royalty cash flows can grow sustainably enough to outweigh dilution, acquisition costs and gold price swings.
- Iran says it shot down US drone after Trump's warning
Iran's military said its air defenses shot down a US drone over the southern port city of Bandar Abbas, and Tasnim reported it was a US-made LUCAS drone. The incident came after President Trump said on October 24 that the US could strike Iran “as early as tomorrow” or reach a deal, and stated the goal of preventing Iran from developing nuclear weapons. He said Iran could avoid further military action by complying with an agreement, but was unsure of the next step. The Wall Street Journal reported that aircraft from the USS George Washington carrier group were being readied, and that the US had reportedly evacuated some diplomatic posts and military bases in the region. Mohamad Elmasry, a professor at the Doha Institute for Graduate Studies, said these signs point to a new round of fighting.
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