Picks for 2026-08-26

1. TCEHYTencent Holdings Limited

   Tencent Holdings (TCEHY) repurchased 672,000 shares for HK$300.4 million on August 26, following its Q2 2026 earnings report on August 12 which showed robust growth in gaming and advertising, but negative free cash flow due to heavy AI investments. The company's stock has been trading below its 20-day and 50-day moving averages, indicating recent selling pressure despite the buybacks and a "golden cross" signal.

   5-day return -0.66% · -0.54% vs SPY · lagged SPY

2. SUNSunoco LP

   SUN (Sunoco LP) recently reported strong Q2 2026 results, with net income up significantly year-over-year and Adjusted EBITDA of $996 million. The company also raised its full-year 2026 Adjusted EBITDA guidance by $400 million to $3.5-$3.7 billion and increased its quarterly distribution for the seventh consecutive quarter. Despite this positive news, the stock is trading below its target price, suggesting investors are weighing the strong performance against concerns about its acquisition-driven expansion and substantial long-term debt.

   5-day return +1.74% · +1.86% vs SPY · beat SPY

3. ABVXABIVAX Société Anonyme

   ABVX is seeing downward pressure today, continuing a trend after a June sell-off. This follows the company's July 30th announcement of a positive pre-NDA interaction with the FDA for its lead drug candidate, obefazimod, for ulcerative colitis, which keeps them on track for a late 2026 submission. However, lingering investor concerns about a rare malignancy signal observed in earlier trials for obefazimod continue to weigh on the stock, despite strong efficacy data.

   5-day return -4.67% · -4.55% vs SPY · lagged SPY

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