Author: Doug Kass

Positions: None.

Upside:

-AUUD +76% (submits S-4 for merger with Thramann Holdings)

-MICC +11% (reportedly Blackstone and CD&R in early stages of exploring bids for company)

-PZZA +9.1% (largest franchisee considers joining Irth Capital in take private bid)

-FIG +8.3% (earnings, guidance)

-BOOT +5.1% (earnings, guidance)

-DXCM +5.1% (investor meeting guidance, comments)

-DTST +2.6% (earnings, color)

Downside:

-AARD -37% (plans to Unblind HERO and OLE Data to Inform Path Forward Following FDA Clinical Hold)

-LNZA -27% (files to sell $20M registered direct stock offering)

-IPWR -21% (prices ~5.29M shares for gross proceeds ~$30M)

-BW -12% (prices $200M common stock offering of 10.5M shares at $18.50/shr)

-NNVC -11% (enters registered direct offering for $2M gross proceeds)

-WOLF -11% (potential correction following Citrini Research report; Slate Path Capital reports 10% passive stake)

-POET -9.6% (files to sell 19.0M shares at $21.00/shr in $400M registered direct offering)

-FRMI -9.1% (Evercore ISI Institutional Equities Cuts FRMI to In Line from Outperform, price target: $11)

-RUM -8.0% (earnings, color)

-NMAX -6.9% (earnings, guidance)

-DGXX -6.7% (earnings, color)

-BTBT -6.1% (reports Q1 revenue)

-MRVL -6.0% (downside momentum)

-NU -5.4% (earnings, color)

-CBRS -4.4% (profit-taking following NASDAQ trading debut)

-VIK -3.2% (Morgan Stanley Cuts VIK to Equal Weight from Overweight, price target: $86)

Positions: None.

Positions: None.

Positions: None.

HOWARD MARKS SAYS CHARLIE MUNGER GAVE HIM THE BEST INVESTING ADVICE HE'S EVER RECEIVED IN ONE SENTENCE

It happened over lunch right after Marks finished writing his first book.

As he got up to leave, Munger hit him with this:

"Just remember, none of this is easy. Anybody who… pic.twitter.com/OLdCPeNQWD

— WOLF (@WOLF_Financial) May 15, 2026

Position: None

Imagine you have 50 friends.

You fund each other’s companies.

Then those companies buy services from each other.

Then everyone books the revenue, raises valuations and calls it “AI growth.”

Has this game been played before?

Some call it a circular economy.

Others call it… pic.twitter.com/z2c2QQYIUz

— Norveçli (@norveclifinance) May 14, 2026

Position: None

* The inflation genie is out of the bottle and domestic economic growth is sluggish (not stagnating)… 

🚨 BREAKING:

🇺🇸 RAY DALIO SAID LIVE ON CNBC:

"WE ARE CERTAINLY IN A STAGFLATIONARY PERIOD. CERTAINLY, YOU WOULD NOT CUT INTEREST RATES NOW."

LOOKS LIKE KEVIN WARSH WON'T BE ABLE TO CUT INTEREST RATES ONCE NOMINATED

THIS IS EXTREMELY BAD FOR MARKETS… pic.twitter.com/oaO3ZeyIS2

— ᴛʀᴀᴄᴇʀ (@DeFiTracer) May 14, 2026

Position: None

From Randorama:

Randy 12h ago

The board of directors of Kimberly-Clark Corporation (KMB) has declared a regular quarterly dividend of $1.28 per share. The dividend is payable in cash on July 2, 2026, to stockholders of record at the close of business on June 5, 2026.

Kimberly-Clark (KMB) has paid a dividend for 92 consecutive years and has increased its dividend for 54 consecutive years.

I added to my $KMB long this week.

Position: Long KMB (S)

we are FUBAR

fed has zero options other than just accounting fraud and changing how numbers are calculated

CPI at 3.8%

stocks at shiller PE of 42x

bonds doing this: pic.twitter.com/k6t1cbDrmk

— Quoth the Raven (@QTRResearch) May 15, 2026

Position: None

Wolf Street howls about HELOCs. 

Position: None