Things I Did Friday

Avatar photo Doug Kass on November 2, 2026

Here were Friday’s things:

* I initiated trading long rentals in $AMZN at $225.56, $BABA at $98.70, $GOOGL at $279.56, $META at $615.36, $UBER at $65.18, $NFLX at $62.08 and $MSFT at $524.50.

* I initiated trading long rentals in $BAC at $50.12, $C at $122.02 and $WFC at $83,73.

* I covered my $ARKK short at $80.03 and my $FIGS short at $21.16.

* I covered my $AAPL short at $345.70.

* I added to $MSOS at $3.93, $GTBIF at $6.25, $GLAS at $2.23 and $VRNO at $5.03.

* I added to $GLD at $362.10.

Position: Long MSOS common (VL) and calls (VS), GLD (M), GTBIF (S), VRNO (VS), GLAS (S), AMZN (S), BABA (S), GOOGL (S) META (S), UBER (S), NFLX (S), MSFT (S), BAC (S), C (S), and WFC (S).

Upside, Downside Movers in the Morning

Avatar photo Doug Kass on October 13, 2026

Upside

– $VFC +4.0% (Piper Sandler and Truist upgrade as signs of Vans stabilization improve turnaround confidence)

– $GS +3.0% (Q3 beat, led by surging equities revenue and stronger investment-banking fees)

– $UNH +2.5% (Q3 beat and 2026 adjusted EPS outlook raised to at least $20.50)

Downside

– $SNDX -17.0% (MAXPIRe Phase 2 axatilimab trial in idiopathic pulmonary fibrosis missed its primary endpoint)

– $S -7.0% ($1.25B convertible senior-notes offering raises dilution and stock-supply concerns)

– $WDC -6.0% (UBS cuts its target on hard-drive capacity and pricing uncertainty, compounding the storage-sector selloff)

– $SNDK -6.0%, $STX -5.5%, $MU -3.5%, $MRVL -2.5%, $AMD -2.0% (memory, storage and chip names slide as reported CXMT advances intensify China-competition fears)

– $JPM -3.5% (Q3 EPS and revenue missed as fixed-income trading weakened despite stronger investment-banking fees)

– $DPZ -3.0% (Q3 beat, but US same-store sales growth slowed sharply, raising demand-recovery concerns)

– $JNJ -3.0% (Q3 beat, but medtech growth was soft and international device sales faced geopolitical disruption)

– $ADBE -1.5% (HSBC downgrades to Hold, citing open-source competition risks)

– $WFC -1.0% (Q3 EPS beat, but revenue and net-interest income missed expectations)