Market Braces for Even Higher Oil Prices: 8 Key Items Shaping the Stock Market Thursday
Meta’s earnings, P&G’s warning and other headlines moving the market this morning.
Key Earnings See Negative Reactions as Rotation Hits a Bump in the Road
SpaceX spent more, Tesla spent less, and Meta proved its spending works. The market is selling all three.
SpaceX Lights a Fire Under Tech
Blowout SpaceX results lifted a swath of AI names, sending the Nasdaq up over 1%.
Tesla Shares Higher After Surprise Positive Cash Flow But Then Turn Lower
Tesla ($TSLA) shares are up a little over 1% after beating on the bottom line and reporting $1.5 billion of positive free cash flow versus expectations for a loss of $5 billion, assuaging some concerns surrounding the firm’s increased investments into robotics and AI. In that regard, capex was well under expectations at $4.73 billion (vs $2.25 billion the year-ago period). $7.95 billion was expected according to Bloomberg.
Gross margin also beat at 19.6%, while adjusted EPS of 48 cents topped estimates. Weakness was seen though in operating income which fell 56% from the year-ago quarter.
Revenue in Tesla’s core automotive business declined 3% from a year earlier, and while positive, free cash flow was down 62% year-over-year.
Active full self-driving (FSD) subscriptions rose to 1.74 million, up from 1.48 million in Q2.
The full slide deck presentation is here.
Bloomberg also has an ongoing live blog for Tesla.
Update: Tesla shares turned lower after Travis Axelrod, Tesla’s head of investor relations opened up the conference call with “We will not be addressing any questions today on a potential merger with SpaceX ($SPCX).”
Good News for Tesla and Meta, But Good Enough to Attract New Buyers?
Mark Zuckerberg said his company hit major milestones toward what he calls personal super intelligence.
Speculative SpaceX Price Target as Tesla Rumor Boosts Stock
Elon Musk’s space firm topped Wall Street expectations.
VIDEO: Construction, Meta and Your Other Office Hours Questions Answered
Plus, Microsoft, SpaceX and why we’re not chasing the obvious names.
I’m Bottom Fishing This Data Center Play the Right Way
SpaceX has confirmed the strong need for data centers with power supplies.
My Portfolio Is Getting Some ‘Energy’
I’m getting into these two familiar oil and gas stocks amid an uncertain market.
CyberCartel Used Claude and Grok to Attack Banks
The Information is reporting that hackers used Claude and Grok to fully automate attacks on banks, supporting our view that AI adoption and usage by bad actors would accelerate the pace of cyber attacks and be a catalyst for incremental cybersecurity spending.
Here’s the gist:
A hacking group called CyberCartel used a network of AI agents running on models from Anthropic, SpaceX ($SPCX) and the Chinese lab Moonshot AI to automate cyberattacks against more than 400 Latin American financial targets, according to an investigation by the cybersecurity startup Straiker.
TheStreet Pro Portfolio is long CIBR shares.