• Ziff Davis sold one of its divisions for $1.2 billion in cash, which was more than the entire company was valued at before the sale. This unlocked a lot of value and left the company with a very strong balance sheet.
• They now hold more cash than debt, which is rare in this sector.
• The remaining businesses are high?margin and well?known brands.
• Management has room to buy back shares, which can support the stock price.
• The company trades at a low valuationrelative to its earnings and cash flow.

https://schrts.co/wfAVgePU

overbought into what will be big increase in CPI 

SPX Q1 2026  decline was largely driven by its biggest constituents, whose outsized  weightings can disproportionately pull the Index lower. Consider  this: the top-performing stock of the quarter, SanDisk Corporation,  surged 167.7%. Yet with a weighting of just 0.14%, it contributed  only 0.09 percentage points to the Index. Meanwhile, NVIDIA fell  6.5% but carries a roughly 7.6% weighting—dragging the Index  down by about 0.5 percentage points, more than five times the impact  of SanDisk’s gain, but in the opposite direction. In fact, 290 stocks  outperformed the Index during the quarter. Equal-weighting all 500  companies would have produced a positive return of 0.7%, compared  to the -4.3% decline in the traditional market-cap weighted Index.

200 SNDK Apr26 830 Puts $44.45
big put buyers today, i heard cramer was bullish so that makes sense time to sell. 

CPI in the am will include march data unlike this am ppi 

The thesis isn’t that Palantir disappears, it’s that its ceiling lowers. Defense and intelligence remain nearly untouchable: air-gapped environments, classification requirements, and deep government relationships create barriers no commercial AI vendor can easily clear. Peter Thiel’s network and Alex Karp’s willingness to work on weapons systems where others won’t is a genuine differentiator. Palantir’s national security business is durable. Its commercial ambitions are where Claude is an existential pressure.

otherside....

Rare S&P 500 Gap Higher on Wednesday Suggests a Binary Outcome.  

BTIG Research noted that using $SPYsince 2003, there have been five prior times when the intraday low was at least 1.5% above the prior day's intraday high.

In other words, a 'true gap' of at least 1.5%. Of those five prior occurrences, 4 of the 5 gaps remain unfilled today. The 2009 event filled the gap 7 days later, then rallied meaningfully from there. Forward returns were higher every time looking out 2, 4, 8 and 12 weeks later. Median 4- and 8-week returns + 6.09% and +9.1%, respectively.

If Trump gets full denuclearization — stockpile surrendered, Natanz and Fordow dismantled, enrichment ended — then you could imagine letting Iran claim some version of strait sovereignty. Ugly for the GCC, ugly for Europe, but defensible.

But if Iran keeps enrichment, which their 10-point plan explicitly demands, then you cannot also give them the strait. A nuclear-capable Iran with a toll booth on 20% of the world’s oil is not a concession. It’s capitulation. You can trade one for the other. You can’t keep both.

As opposed to purely financial securities like stocks, the commodity futures curve represents the balance between physical buyers and physical sellers across time.
When the front trades above the back, holders of inventory are being pulled to sell today rather than store for tomorrow. Every day in backwardation, the system gets thinner. Barrels come out of tanks, buffers shrink, spare capacity drains. The clock isn't just ticking toward resolution. It's ticking toward depletion. Peace on day 14 of this ceasefire starts from a worse position than peace on day 1, even with zero additional damage. And when inventories hit the floor, prices stop being linear. That's when the math breaks.

But the clock only runs one direction. It can price resolution faster. It cannot undo what’s already been destroyed.
Ras Laffan, the world’s largest LNG export facility, took drone strikes that knocked 17% of Qatar’s export capacity offline. Repair timeline: three to five years.

The Saudi East-West pipeline was hit hours before the deal. Main pressurization and pumping station likely damaged. Yanbu flows limited. That was the Plan B.
Israel struck the Xinjiang-Iran railway corridor at Kashan, China’s terrestrial alternative for trading crude oil while avoiding Hormuz. First direct attack on Chinese infrastructure in the war.

Hormuz can’t just be open to some ships. It needs at least 10 million barrels per day passing through, at least 50% of pre-war capacity. Even with every theoretical offset firing, there’s still a 6 million barrel per day gap.

Crude got smoked. Corn barely moved. That’s the cascade in one chart. Oil reprices on headlines. Agricultural calendars don’t. Urea is still at $700. The USDA’s smallest planned wheat crop since 1919 doesn’t reverse because two diplomats shook hands. Farmers who couldn’t afford fertilizer in March aren’t retroactively applying it in April because someone in Islamabad said “ceasefire.”

i saw bears posting those stats and bulls posting other bs. 

1) OIL– Big time bullish signal for WTI to hold @Hedgeye immediate-term TRADE Signal Support of $93 yesterday and now the TRR (top-end of the Risk Range™ Signal) is all the way up at $116.99 (i.e. a higher Cycle High for #Quad3), so I bought more Oil and Energy Stocks (XOP) into the close yesterday after being patient and waiting for the day’s shorter-term Signals to confirm.

2) USD– Bought a bunch of US Dollars while shorting more Yens (Long YCS if you can only do Long Only) yesterday A) because USD Index was nearing the LRR (low-end of Risk Range™ Signal), B) confirming Bullish TREND and C) we have a pending CPI report that’s going to be a major re-acceleration of at least +100bps month-over-month; still Short Bitcoin with a -0.83 TRADE Correlation to USD.

3) Global Equities– Pretty much what The Signals expected with all major Equity markets showing only red never mind any follow-through – Japan -0.7% after printing the worst #Quad3 Slowdown in Consumer Confidence since the dark days of COVID! My largest European Short is Germany (DAX opens down -1.3%) and my largest Country Long remains Norway (NORW) which is up another +1.5% here to +7.5% in the last month.

APLD Missed EPS on much stronger revenues.
COF Upgraded to Overweight from Neutral at JP Morgan.
CRWV Signed long-term infrastructure agreement for $21 billion with Meta.
NEOG Beat EPS by 3 cents (0.09 vs. 0.06) on stronger revenues; raised guidance.
NTRA Awarded 30% royalties from ArcherDx in patent dispute.
PSMT Beat EPS by 5 cents (1.62 vs. 1.57) on stronger revenues.
SMPL Beat EPS by 5 cents (0.45 vs. 0.40) on weaker revenues; lowered guidance.
STZ Beat EPS by 19 cents (1.90 vs. 1.71) on stronger revenues; lowered guidance.

APLD Q3 2026 earnings: HPC Revenues Ignite, But Massive Write-Downs and SBC Crush GAAP Earnings

Applied Digital is transitioning from a construction story to an operational one, with Revenue accelerating 139% YoY to $126.6M as the 100 MW Polaris Forge 1 HPC facility came online. This operational milestone flipped Adjusted EBITDA from $6.3M a year ago to $44.1M. However, beneath the non-GAAP success lies a bloody GAAP reality: Net Loss expanded dramatically to $100.9M. This reversal was driven by a $59.7M write-down on the Cloud Services unit (which failed to sell and is now being spun out via a reverse merger) and a $39.3M YoY spike in stock-based compensation. While the demand backdrop is euphoric—prompting the groundbreaking of the 300 MW Delta Forge 1 campus— execution costs and shareholder dilution remain significant concerns.

WOW!!!!!!!! insane moves 

check this one out last 3 days on heavy vol 

adjusted for dividends maybe 

end of day 2403  contracts bought on TSLA  for April 17th expiration, 360 Calls @ $4.8491. 
I'll add TSLL ah 

20% short float will do that 

Beauty Sammy!