Research Feed

Redwood Trust (RWT) is being repriced, but the street hasn't caught up to what the business has become. At $6.59 with book value of $7.36 (0.90x book), the market still prices this as a traditional mortgage REIT sitting on balance sheet risk. The Q4 2025 earnings call reveals something different: an

Thesis: Momentum/squeeze play (1-3mo), not fundamental hold. Stock gapped 22% on operating leverage validation but 34% short interest with 10 days to cover creates technical continuation. Size small (2-3%) for squeeze mechanics, exit on momentum break. The Trade: - Entry: $115.72 (current, post-gap)

EZPW just reported $0.55 EPS for Q1 FY2026, beating the Street's $0.43 estimate by 29%. The Street's response? Set Q2 consensus at $0.41 — implying a 25% sequential decline in what management explicitly called the stronger quarter. This isn't caution. It's a misread of the earnings algorithm that ju

Navient is executing a transformation from legacy student loan runoff to growth, with dramatic expense reduction creating operating leverage. The company hit a portfolio inflection point in Q4 2025—the first time the private education loan book stabilized YoY as new originations offset legacy runoff

NEWT (Newtek Bank) reported Q4 2025 earnings on January 29, revealing a structural competitive shift that the market appears to have missed. Stock sold off 5.7% on conservative guidance ($2.35 EPS for 2026, +7.8% YoY), but buried in the call was evidence of a moat-widening regulatory change taking e

New Oriental Education (EDU) reported Q2 FY2026 results on January 28, 2026, revealing a profitability inflection driven by operational discipline following China's tutoring crackdown. Non-GAAP operating income surged 206.9% year-over-year, while net income increased 6,068.6%. Operating margin expan