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Add This Stock to Your Queue With Entries on Red
This stock’s price got jumpy on legal noise while demand stayed intact. Stake a starter on red and keep risk tight.
Add only if engagement, ad CPMs, and cash margin improve into the holiday slate.

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Halliburton | HAL

Price: $26.33
Q3 revenue beat at $5.6B with solid adjusted margins and improving North America activity.
GAAP was messy on impairments and restructuring, but the operational story points to cost control, equipment rationalization, and free cash flow discipline.
A new partnership with VoltaGrid to power data centers adds a growth angle where reliability and local generation matter.
Your plan: watch international pricing, North America frac utilization, quarterly free cash flow, and cadence on the $100M-per-quarter cost saves.
Treat buybacks as a signal, and expect 2026 capex plans to tighten around returns, not growth for growth’s sake.
Position sizing should respect energy tape volatility and headline risk around the Middle East and tariffs.
Why it matters to you: If HAL converts cost actions and selective growth into steady cash, you get an inexpensive service name with improving quality of earnings.

Warner Bros. Discovery | WBD

Price: $20.52
Shares jumped on news the company is open to a sale while still pursuing a split into two entities.
Interest is reportedly broad, but debt and legacy networks remain the sticking points for any buyer.
This is now a process story with real optionality and real execution risk.
You should keep a watch on the timeline for the separation, credible inbound offers versus speculation, antitrust flags, and updated leverage targets.
Operationally, keep an eye on Max engagement, franchise cadence (Potter, Thrones), and free cash flow versus content spend.
Do not chase green. Build on pullbacks when you see tangible milestones: signed deals, separation dates, or de-levering progress.
Why it matters to you: The sum-of-parts could be worth more than today’s price, but value only unlocks if debt falls and assets find the right home.

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3M | MMM

Price: $167.23
Q3 showed better margins, higher EPS, and raised full-year guidance.
Organic sales edged higher again, with a bigger product-launch cadence and share gains in electronics. The stock has rallied, so perfection risk rises from here.
Focus on operating margin expansion persistence, free cash flow conversion, and whether the new-product pipeline sustains above-macro growth.
If you are underweight, scale in on down days and let the numbers confirm.
If you are long from lower levels, consider trimming into strength and resetting buy levels near rising support.
Why it matters to you: If margin repair holds and innovation keeps revenue ahead of the cycle, EPS can compound without multiple help.

Steel Dynamics | STLD

Price: $148.56
A clean beat on EPS and revenue, record shipments, and high utilization highlight strong execution.
The aluminum and biocarbon initiatives are tracking, with aluminum EBITDA breakeven targeted in Q4.
The near-term watch item is planned maintenance, which could trim volumes.
Definitely keep an eye on steel spreads (HRC minus scrap), contract resets, cash from operations versus capex and buybacks, and the aluminum ramp toward through-cycle EBITDA goals.
Entries work best on weakness when spreads wobble, not on breakout days.
This remains a disciplined allocator with levers across steel and aluminum, but avoid oversizing into commodity whipsaws.
Why it matters to you: If spreads hold and aluminum scales, cash returns plus growth capex can coexist, giving you downside cushions and upside shots.

Netflix | NFLX

Price: $1,116.69
After-hours selling followed an EPS miss tied to a Brazilian tax dispute, while revenue rose 17% and the ad tier had its best quarter.
Full-year revenue growth still tracks ~16%, with operating margin eased to 29% from 30% due to the tax charge.
Management says the issue isn’t streaming-specific and doesn’t change the model.
So watch for 1) net adds relative to guidance, 2) ad-tier adoption and CPMs, 3) whether Q4 slate converts to hours viewed and churn control, 4) margin guide path back to 30%+, and 5) any clarity on Brazil resolution timing.
Tactically, build a starter on red days, add on proof that ad revenue is scaling and price increases stick.
The consumer products push around “KPop Demon Hunters” into 2026 and live experiences are optionality, not the core.
Why it matters to you: if ads scale and churn stays tame into a heavy slate, high-20s margins support the multiple even with foreign tax noise.

Poll: Which would make you more nervous? |

Today’s basket blends one headline magnet and four execution stories.
With Netflix, buy the dip only if the operating engine keeps humming: subs steady, ads scaling, margins re-accelerating.
Halliburton is about cash discipline and targeted growth, not volume at any price. WBD is a process trade, so wait for real milestones.
3M needs to prove margin gains are sticky; add on red and let guidance do the talking.
STLD is a spread-and-execution name where patience on entries pays. Write your rules, size to volatility, and let operating metrics, not headlines, decide the adds.
Stat of the Day: 22 days
The U.S. government shutdown has stretched to 22 days. That raises macro noise, delays some data flow and contracts, and can sap confidence at the margin.
Practically, keep a little extra cash, lean into companies with strong free cash flow and pricing power, and expect headline volatility around rate, spending, and regulatory timelines.
Best Regards,
—Noah Zelvis
Everyday Alpha


