Core Insights - ASML Holding is a leading player in the semiconductor equipment industry, specializing in advanced lithography systems essential for AI chip production, holding a near-monopoly on EUV lithography machines [1] Financial Performance - ASML reported earnings per share of $8.78, which was below the estimated $9.01, while revenue reached approximately $11.6 billion, exceeding the estimated $11.5 billion [2][6] - The company's Q4 2025 bookings were 13.2 billion euros ($15.8 billion), significantly surpassing analyst expectations of 6.32 billion euros, indicating strong demand for AI chips [3][6] Future Projections - ASML anticipates net sales for the current quarter to be between 8.2 billion and 8.9 billion euros, with total sales for 2026 projected to range from 34 billion to 39 billion euros [3] Valuation Metrics - The company has a price-to-earnings (P/E) ratio of approximately 47.83 and a price-to-sales ratio of about 14.62, indicating a robust market valuation [4][6] - ASML maintains a low debt-to-equity ratio of 0.14, reflecting conservative debt usage, and a current ratio of approximately 1.31, demonstrating its ability to cover short-term liabilities [5]

Core Viewpoint - EdgeMode, Inc. has issued a statement to correct inaccuracies in a report by Wall Street Global Research, which the company claims mischaracterizes its business model, development strategy, and European execution capabilities [1][2]. Group 1: Business Model and Strategy - The report inaccurately describes EdgeMode as merely securing options on rural land, while the company operates a development-to-Ready-to-Build (RTB) strategy, which includes securing land and power, completing permitting, and reaching RTB status [6][7]. - EdgeMode's RTB is the product, and the company does not claim to be operational or present early development work as completed infrastructure [8]. - The report's claim regarding EdgeMode's ownership of 300MW grid connections in Europe is based on a fundamental misunderstanding of the company's strategy, which focuses on creating its own energy supply rather than competing in congested grid interconnection queues [9][10]. - EdgeMode is developing power-secure campuses using on-site and near-site generation, including secured gas baseload access and Solid Oxide Fuel Cells (SOFC) [11]. - The company aims for a time-to-power of under 12 months, which is a design objective rather than a claim of existing grid interconnection [12]. Group 2: Execution and Team - The report falsely implies that EdgeMode lacks a European execution team, while the company has a Spain-based team with experience delivering over 10GW of infrastructure across Europe and LATAM [14][15]. - EdgeMode has recently completed a joint venture agreement with Blackberry AIF, which includes a committed team for development under the JV framework [14]. Group 3: Financial Model - The report misrepresents EdgeMode's monetization strategy as an "exit-to-anyone" approach driven by a lack of capital, whereas the company's model is intentionally capital-light, focusing on RTB monetization through sale or selective joint ventures [16][17]. - EdgeMode is not attempting to self-fund multi-billion-dollar hyperscale builds, as its business model is centered on building a repeatable development platform in a market where power-secured, permitted AI sites are scarce [17]. Group 4: Ethical Context - EdgeMode addresses the report publicly due to the commercial pressure framework under which it was produced, highlighting the importance of transparency in research credibility [18][19]. - The company encourages investors to review its published materials and engage directly for verified information [20].

Economic Indicators - Pre-market futures are positive, with major indices showing gains: Dow +77 points, S&P 500 +18, Nasdaq +107 points, and Russell 2000 flat after a +2% increase the previous day [1] - Weekly Jobless Claims reported at 216K, below expectations of 225K, indicating a resilient job market [4][3] - Continuing Claims total 1.960 million, slightly up from the previous week's revised figure, suggesting stability in longer-term jobless claims [4][5] - Durable Goods Orders increased by 0.5%, aligning with expectations, while orders excluding transportation rose by 0.6% [6] Company Performance - Deere & Co. reported fiscal Q4 results, missing earnings estimates by 3 cents at $3.93 per share, marking the first earnings miss in three years, although revenues exceeded expectations by 5.92% at $10.58 billion [8] - Shares of Deere are trading down 3.5% following the earnings report, despite a year-to-date gain of 17.6% [8] Consumer Behavior - An estimated 31 million people are expected to travel for Thanksgiving, indicating strong consumer spending on travel despite the economic climate [9]

Core Insights - Public concerns regarding private debt have led Blue Owl Capital to abandon plans for a merger of its private funds, highlighting the increasing scrutiny of the private debt market [1][2] - Blue Owl Capital, a major player in private lending, manages $295 billion in assets, with over half allocated to credit [2][3] Company Developments - Blue Owl Capital canceled a planned merger between a smaller private fund ($1.7 billion) and a larger public fund ($17.1 billion) due to "current market volatility" [2] - CEO Craig Packer stated that both funds are performing well and there is no urgency for the merger [2][4] - The company has established a strong presence in private lending across various sectors, including consumer loans and significant data center financing deals [3] Market Context - The proposed merger would have resulted in a 20% unrealized loss for private fund investors, contributing to a 7% decline in Blue Owl's stock earlier in the week [5] - The private debt market has seen significant growth, now impacting brokerage and retirement accounts of many Americans [1]