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It was certainly not a great quarter, but there is some explanations, and growth remains high nonetheless. EPS was 12c, estimate was 29c. Revenue was $108.8M, estimate $115M. Gross margin 56%, down from 61%, estimates 61.6%. R&D expenses increased to $14.3M from $11.1M. SG&A expenses were $42.7M vs $30.7M last year. We are OK with the R&D spend. 2024 guidance went to $425M+ revenue, vs consensus $445M, but long term goals were maintained. Part of the issue was plane maintenance. This likely hurt revenue while planes were grounded. Product mix hurt margins. We were aware of the plane issue and assumed the Street was as well, but it was a miss, and the stock is expensive. Investors had very high expectations. The after hours response does seem excessive, but there are still huge embedded profits here for most investors and it is an easy sell for short term holders. But we do not really see any long term change here. TMDX is still guiding for 76% to 84% growth and not many companies are in that league. We would be OK initiating a position into the decline. It *probably* should be down about 10% to 15% with this news, not 25%. Still, it should be considered an aggressive growth stock.
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BEI.UN is still considered an 'oil sensitive' REIT because of its Alberta focus. The energy sector has been quite weak, and this is likely a big reason for its drop from $91/unit. But it is still up 8% YTD and 22% over one year. The last quarter was fine, but its relatively low yield of 1.87% and its higher valuation can limit investor interest at times. We would be OK buying for income and growth. 
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KNSL is (still) up 32% YTD and profit-taking was one factor. Some investors also 'sell on news'. EPS was 16% ahead of estimates and revenue was 4% better. Premiums rose 18% and it authorized a $100M share buyback. Wolfe Research raised its rating on the stock. Revenue rose 33%. We would consider the results quite solid overall. 
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Company Highlight: Real Matters Inc. (REAL)

Real Matters Inc. (REAL) stock price was up 20% on the month, 45% year-to-date, and 48% over the past year. REAL continues its impressive run over the last year and was last mentioned in the August edition of this blog. The stock has a 52-week range of $4.43-$9.46.

REAL operates in the real estate appraisal and title service industry in North America, the company plays an essential role in the value chain of the real estate market by helping mortgage lenders reduce the risk of lending and meet regulatory requirements. In addition, REAL also provides insurance inspection services by ensuring all the historical and current owners of the property are taken into account during the due diligence process, maintaining transparency between buyers and sellers. REAL generates revenue by providing local knowledge and expert opinions on the fair market value of a residential property.

There was no company specific news that drove September’s share price gains. REAL continues to be highly sensitive to rates and the housing markets. With the US making their first rate cut in September, this likely improved investor outlook for housing market activity generating investor optimism around REAL.
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It reports tomorrow. It's notorious for reporting at least one number that's off like revenue or cash flow. This time, management could be defensive about their AI platform. Rarely does every number go up at the same time.

It reports tomorrow.  They just bought ZT Systems to compete with Nvidia, but plan to sell its hardware component. But suppose they don't? Will the stock got dinged?

It recovered a few dollars today after falling on the illnesses caused by the Quarter Pounder. We don't want that gain. Rather, we want upside on a good quarter--they report tomorrow. 

They report Wednesday. People want to know about their inventory. They will talk about the data centre. The company is doing well. Is up $60 from September lows. It's run too much. He likes it though.

They report Wednesday. The CEO announced a plan to make it easier for companies to advertise on its platforms. He's positive.

They report Wednesday. Is down $1.50 today. Their AI platform has gotten mixed reviews, so the stock has stalled. If sales are weak, the stock will fall. It's no longer the lock (in AI) it used to be.

They report Thursday. The street has been so negative, that Apple will miss (weak iPhone orders, problems with China, competition). But shares have held in. Their report has to be perfect, though.

They report Thursday. There's no sign that retail is improving, and they issued a downbeat forecast. Never count them out, but he doesn't like the risk/reward. Kuiper could hurt the report.

They had a poor quarter. Period.

He's been recommending this post-Covid, because it's been benefitting from the huge bounce back in medical procedures that were delayed. HCA just made a new all-time high. But last Friday it reported a shocking top and bottom line miss. Is down 13% in the past week, but this is an opportunity. HCA missed only slightly, not the end of the world. Hurricanes hit revenues by $200-300 million and 60-90 cents per share, a one-off impact. HCA reaffirmed its full-year forecast, though

A Swiss company in sports betting, managing sportsbooks and providing data to teams and leagues which broadcast games (e.g. NBA, ESPN, FIFA). They offer pre-game and live odds. In 3 years since IPOing, shares have sunk from $28 to $12.50. It has been stuck for a while, but is up 43% in the past 12 months, up nearly 13% this year. He likes it that they make money unlike peers. Revenue grows at 24% compound annual growth rate. Rising right cost, negotiated with each league, has capped revenues, but after many renewals, it's entering a period of calm. They can focus on growing margins. The street has upgraded SRAD recently.