Thank you to all of our Street Sheet Research subscribers who attended our webinar this morning!

We had a blast speaking with our guest, Ed Mahaffy. Ed spoke about a hidden tax trap lurking in many municipal bond portfolios, along with a strategy to defuse this tax bomb before it's too late. He also told us where he thinks interest rates are heading, and his highest conviction bets heading into year-end and beyond.

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Plus, a big week for tech, but a bad one for dignity. Scroll down for more.

— Brooks & Cas

AI data centers are overwhelming America’s power grid.

Paladin Power’s US-engineered Energy Storage System (ESS) delivers 10X more power than Tesla’s Powerwall — without fire risk or inflated cost.

Its patented inverter powers entire homes from one sleek, compact unit — 80% smaller than traditional setups.

Backed by $200M in proprietary patents and 3,000+ investors, Paladin is scaling fast as the ESS market hits record growth. This is a rare chance to get in early.

Warner Bros Discovery $WBD ( ▲ 4.02% ) rose on reports that Paramount Skydance $PSKY ( ▲ 2.02% ), Netflix $NFLX ( ▼ 3.64% ), and Comcast $CMCSA ( ▼ 1.65% ) prepared takeover bids.

Robinhood $HOOD ( ▲ 0.8% ) reported stronger recent trading activity on its platform.

Walmart $WMT ( ▼ 0.06% ) ticked down after CEO Doug McMillon announced he will step down in February.

Avadel Pharmaceuticals $AVDL ( ▲ 22.45% ) jumped after Lundbeck offered to acquire the company for up to $23 per share.

DoorDash $DASH ( ▲ 6.02% ) settled a deceptive practices lawsuit with Chicago for $18B.

To monitor hot stocks in real time, check out The Street Feed.

📈 Upgrades

📉 Downgrades

This is just a fraction of the calls we feature all day on The Street Feed. Street Sheet Research Subscribers can see why the analysts upgraded or downgraded the stocks above and updated price targets. Get immediate access today.

Gap $GAP ( ▼ 0.58% ) just picked up a Buy rating from Jefferies $JEF ( ▼ 0.72% ). The bank lifted its target on the retail stock to $30, calling it an emerging turnaround story, with 22% implied upside.

Analyst Corey Tarlowe pointed to broad operational improvements under CEO Richard Dickson, who has pushed the brands toward cleaner assortments, tighter inventory control, and more disciplined execution.

According to Jefferies, those changes are starting to show up in both traffic and sales trends across the portfolio.

Gap and Old Navy have posted better same-store sales in recent months, supported by stronger marketing campaigns that are resonating with budget-conscious shoppers.

Athleta is another part of the story. Jefferies sees improving trends under new leadership and expects healthier merchandising and better execution to support a return to growth.

Jefferies thinks this momentum can extend through the holiday season and beyond, with the setup looking healthier than it has in years. Combined with operational discipline across the portfolio, the firm believes Gap can reach $3 in earnings per share by fiscal 2028.

The firm also highlighted a new driver that could reshape Gap’s long-term outlook: beauty.

The category carries higher margins than apparel and has shown steady, resilient demand through multiple economic cycles. The US beauty market is expected to reach more than $150 billion by 2029. Jefferies believes even modest share gains could add hundreds of millions in incremental revenue.

Gap announced a massive strategic push into the sector in September, and early indicators suggest consumer response has been strong, per Jefferies. These higher-margin products could lift earnings, improve consistency across cycles, and give Gap a platform to reintroduce the brand to younger shoppers.

With the stock still up only modestly this year, Jefferies argues the market has not yet priced in the structural changes underway. If momentum continues, Gap could finally deliver the multi-year turnaround investors have waited for.

AI data centers are overwhelming America’s power grid.

Paladin Power’s US-engineered Energy Storage System (ESS) delivers 10X more power than Tesla’s Powerwall — without fire risk or inflated cost.

Its patented inverter powers entire homes from one sleek, compact unit — 80% smaller than traditional setups.

Backed by $200M in proprietary patents and 3,000+ investors, Paladin is scaling fast as the ESS market hits record growth. This is a rare chance to get in early.

Reuters: Walmart $WMT ( ▼ 0.06% ) said CEO Doug McMillon will retire Jan. 31 after more than a decade in charge. US chief John Furner will succeed him.

CNBC: Under Armour $UA ( ▼ 2.69% ) and Stephen Curry ended their 13-year partnership.

TechCrunch: A German court ordered Google $GOOGL ( ▼ 0.78% ) to pay €572M after finding it abused market dominance against two price comparison rivals.

Axios: Boeing $BA ( ▼ 0.03% ) agreed to buy up to 100K tons of carbon removal from Charm Industrial, marking the startup’s first aviation-sector deal.

CBS News: PepsiCo $PEP ( ▲ 0.57% ) introduced Simply NKD Cheetos and Doritos without artificial dyes, due to hit shelves in December.

Is this what passes for innovation these days?

Where are all those billions going?

Do you own any of the zero-revenue stocks listed in yesterday’s newsletter?

▇▇▇▇▇▇ Yes

▇▇▇▇▇▇ No

And, in response, you said: