#StreetAccount Weekly Market Recap - Friday, 23-Oct bit.ly/369hi69

Your fixed income attribution model should reflect how your team actually invests. Now it can. Two new capabilities in @FactSet Portfolio Analytics give performance analysts more control over what they present to stakeholders: • Return reallocations correct misattributed returns directly in the platform. No manual spreadsheet fixes after the fact. • Hybrid attribution lets you configure the model to fit your investment process before the first calculation runs. Both come with audit trails, template reuse, and native integration into portfolio analysis. Build it once, apply it everywhere. Read the full blog to see how these updates close the gap between your attribution output and your investment story: bit.ly/3VXGBpe

66% of $SPX companies have beaten revenue estimates to date for Q3, which is below the 5-year average of 70% and below the 10-year average of 68%. #earnings, #earningsinsight, bit.ly/4skOAZB

83% of $SPX companies have beaten EPS estimates to date for Q3, which is above the 5-year average of 78% and above the 10-year average of 77%. #earnings, #earningsinsight, bit.ly/4skOAZB

StreetAccount’s Bull/Bear Talking Points for Week-ended 23-Oct: 🐻 Bearish talking points • Big AI trade selloff on Thursday as Meta's capital-raise signals added to already elevated AI funding scrutiny, while peak capex growth and open-weight inference efficiency dynamics were also blamed. Meta a key driver of the funding concerns despite upbeat AI takeaways as filing for new non-voting shares noted potential capital needs in the "hundreds of billions." CoreWeave failed to stabilize despite sell-side defending (including an upgrade). Expected kinetic escalation in the Middle East helped drive oil higher, with WTI crude back above $100 a barrel. Input cost pressure flagged by companies across a range of industries in this week's earnings releases. Soft housing market data with builder confidence lowest since 2012 and pending home sales at a record low. French fiscal/political/social pressures continued to spill over to the credit market, driving 10-year OAT yield through 5% for first time since 2002 and OAT-Bund spread to levels not seen since Eurozone debt crisis. 🐂 Bullish talking points • Rotation > broad risk off (R2K and equal-weight S&P up over 1%) with AI trade weakness accompanied by better breadth. AI trade did not completely ignore positive fundamentals with Wednesday rally chalked up to favorable takeaways from SpaceX and Super Micro. Meta AI takeaways largely upbeat despite post-earnings selloff on capex/funding scrutiny with focus on advertising/engagement tailwind and Muse metrics. Positive fundamental AI takeaways from a number of other reporters this week (Lam Research, Western Digital, Bloom Energy), despite the largely underwhelming response. Upbeat thematic takeaways from earnings, including pricing power, industrial recovery and consumer resilience. Positioning highlighted as a potential bounce (squeeze) facilitator following recent selling pressure in Global Info Tech. Near-term catalyst path with focus on hyperscaler earnings, midterm elections and buyback resumptions. $META $CRWV $SMCI $LRCX $WDC $BE #BullBEar #MarketWrapUp #WeeklyRecap #Earnings #Tech #AI #MiddleEast #HousingMarket #Inflation #France #OAT #EuroZone #OAT #FinTwit #Hyperscalers #Russell2000 Gain immediate access to unparalleled insights with #StreetAccount: bit.ly/3xqrpo7

The S&P 500 is reporting earnings growth of 29.5% for Q3, which is slightly above the estimate of 29.2% on September 30. Read the full earnings article by John Butters here: bit.ly/4dVwkjq

#StreetAccount Financial Market Preview - Friday 23-Oct bit.ly/369hi69

#StreetAccount Evening Market Recap - Thursday, 22-Oct bit.ly/369hi69

S&P 500 earnings. ETFs. AI. Private markets. Portfolio scenario analysis. Fresh analysis from @FactSet experts 📊 Check out the latest articles on bit.ly/4i6LkfD

A paradox of conversational portfolio construction: The easier it becomes to ask for a sophisticated portfolio, the more important to have a rigorous engine to solve for it. Georgi Mitov discusses the ideal system: ease of use & a transparent, auditable, changeable. Read his full analysis: bit.ly/4z68BFO

"The way research is being done on Wall Street is changing." As AI becomes increasingly embedded in day-to-day workflows, firms are looking for new ways to connect trusted data, insights, and research tools. In the latest article from Nyela Graham, Alexander Nacht, @FactSet's Global Head of AI Partnerships and Strategy, shares his perspective on how AI is expanding access to financial intelligence and helping professionals integrate trusted data into the tools and workflows they use every day. For more insights from Alexander, read the full piece here: bit.ly/4hZa8aD

Margins are near record highs. So what happens if inflation doesn’t cool off? Dan Nathan, @GuyAdami and @LizThomasStrat break down the latest Earnings Insight on @mrktcall WATCH: youtube.com/live/HDE8UmkE4ik

An activist discloses a stake in a company you cover. What happens next decides who shapes the client conversation. @FactSet AI for Banking, a premium add-on to the FactSet Workstation, monitors your coverage universe, assembles a sourced first draft, and builds branded pitch materials in the tools your team already uses. Human review comes before anything reaches a client. 📊 Read what it does at each step: bit.ly/4yAkYJ5

New AI model to bring in? Another data source to add? One more tool your teams want to use? Now multiply that across an enterprise. When each new addition requires its own custom integration, the infrastructure can quickly become as much of a challenge as the technology itself. That’s the bigger idea behind Model Context Protocol (MCP): not another connector, but a common standard for how AI communicates with the systems around it. Models, data, and tools can work through the same protocol instead of requiring a different integration for every combination. See what a common standard could change for capital markets: bit.ly/4rTx1iV

📱 $META Street Takeaways - Meta Platforms Q3 Earnings ($680.20 -$17.32) Overview: • Shares (2.5%). Revenue +26.1% y/y beat by 2.0%. EPS ex-items also ahead by 13.1%/$0.86. OM ex-legal charge 340bps above consensus. CapEx $33.94B vs SA $40.95B. Free cash flow $2.12B vs SA ($9.22B). • Daily active people +3% y/y missed by (0.3%). ARPP 2.3% above. • Q4 revenue guided above at the mid. FY CapEx range narrowed toward high end of prior range. • Intends to file a restated certificate of incorporation in Delaware to establish Class C common stock, effective date of 19-Jan-27. • Analysts were positive on the results and outlook. While compute remains something of a limiting factor in Muse development, solid trends for the product were highlighted as >10M have deployed in the US and Canada with retention materially better than that seen in Threads rollout. Furthermore, shopping the primary use case viewed as positive indicator of future capacity for monetization. Significant runway seen remaining in core ads with FOA revenue +26% y/y in Q3 on 10% growth in impressions and 14% in average price per ad. Record engagement for Facebook and Instagram pointed to while MAUs for other apps are also solid. New class of shares seen enabling capital raises without diluting Mr. Zuckergberg. $META #META #Earnings #MetaPlatforms #Tech #Facebook #instagram #Muse #Threads #Ai #SocialMedia #EPS #Zuckerberg #FinTwit #CapEx Gain immediate access to earnings insights with #StreetAccount: bit.ly/3xqrpo7

#StreetAccount Financial Market Preview - Thursday 22-Oct bit.ly/369hi69

#StreetAccount Evening Market Recap - Wednesday, 21-Oct bit.ly/369hi69

What does "governed data" actually look like in practice? Here's @FactSet's MCP server connected inside @Databricks Playground: 13 tools exposed to the model, covering fundamentals, estimates, ownership, supply chain, M&A, RBICS, calendar events, and more, plus a parallel multi-tool wrapper for running several lookups in one pass. The model doesn't have to guess which dataset holds an answer or scrape a page and hope the numbers are current. It calls a defined tool, gets a structured, point-in-time response, and that response is traceable back to its source. This is the layer that sits between "agent framework" and "trustworthy output": a governed set of callable tools, not a general-purpose crawler. Curious how this fits into the rest of the stack? Our latest blog breaks it down: bit.ly/4B4hukz

🏢 Office REITs Q3 Preview: Focus on interest rate headwinds, leasing CapEx, debt maturities and paydown ‣ Office REITs kicking off Q3 results, with SL Green (SLG) and Brandywine (BDN) AMC today, with Kilroy Realty (KRC) AMC tomorrow. • Sentiment slightly more bullish versus the sector, with buy-rated consensus 58% (RE Sector 54%), as commentary highlights strengthening fundamentals, flagging Q3 national and metro statistics including occupancy, rent growth, leasing volume, and absorption. • Interest rate headwinds the big area of focus, with recent backup in yields leading to some downgrades, broad target cuts, across the group. Commentary on refinancings, deleveraging, as well as development/construction debt facilities, and impacts to disposition plans, yields. • Leasing CapEx, concessions, also flagged as attention turns to FFO growth versus SSNOI, with tenant incentives having hindered inflections, accelerations, in the bottom-line metric. AI jobs impact also highlighted in terms of additional color around tenant commentary, demand/sizing of space. • Bullish also flagging valuation relative to current (improved) demand backdrop; B/S in better shape, with capital access, terms, more favorable, both in terms of potential equity partners, JV stakes, as well as debt funding. • Bearish seeing rate backup as adding to NT headwinds, pressuring sentiment, and pushing out a sustained recovery in positively trending earnings growth seen as needed in order for a real step-up in market sentiment and pivot towards more constructive views. $SLG $BDN $KRC #OfficeReits #REITS #CommercialRealEstaste #Earnings #CapEx #FFO #SSNOI #AI #Leasing #FinTwit #REITInvesting #RealEstate Gain immediate access to earnings insights with #StreetAccount: bit.ly/3xqrpo7

🚀 $SPCX Street Takeaways - SpaceX Q3 Earnings ($158.22 +$10.43) Overview: • Shares +7.1%. Revenue +161% y/y beat by 13.3%. All three segments ahead on the top line and adj. EBITDA. Adj. EBITDA EPS also ahead by $0.22/169%. GM 520bps above consensus. Adj. EBITDA margin 890bps above. CapEx +185% y/y to $19.59B vs SA $18.06B. • Q4 CapEx guided $35-40B vs FactSet $19.76B. Q1 2027 revenue guided $33-37B vs FactSet $22.23B. • On the call Elon Musk says Tesla and SpaceX have formed special committees to explore potential merger at the request of shareholders. • Analysts notably positive on the results and outlook. While all segments were ahead of expectations the primary focus was on AI, or the newly renamed segment Superintelligence SI. Increasing GPU spot rates highlighted with new deals at >$50/watt indicate a payback period below one year as management thinks below six months is plausible by next year. Total compute 2026 target lifted to 2.5GW from 2.0GW at year end with an incremental 10GW in 2027 and an internal goal of 20GW. Capacity adds in 2027 likely skew toward H2 on timing of Vera Rubin deliveries. $SPXC $TSLA #SpaceX #Earnings #Tech #TechStocks #AIEarnings #AI #SpaceTech #ElonMusk #Tesla #Capex #DataCenter #SuperIntelligence #GPU Gain immediate access to earnings insights with #StreetAccount: bit.ly/3xqrpo7