Meta Platforms just delivered one of the strangest earnings reports of the season: revenue of $64.6 billion, up 26% from $51.24 billion a year earlier and above the roughly $63.3 billion expected — paired with net income of only $9.86 billion because a single roughly $9.89 billion legal charge ate almost everything. The stock initially … Read more
Elon Musk didn't dodge the question this time. Asked about a possible combination of his two companies on SpaceX's third-quarter earnings call Tuesday, he confirmed the SpaceX Tesla merger talks are real — both boards have formed special committees of independent directors — and called a merger “a good idea.” SpaceX shares jumped more than … Read more
AI debt fears just gave Wall Street its ugliest week in four months. The Nasdaq Composite tumbled roughly 2.5% on Friday, October 16, dragging its weekly loss to nearly 5% — its worst week since June. Ten days earlier, the same index sat at a record high. At the center of the panic: CoreWeave, the … Read more
Wednesday’s hot CPI inflation report landed like a slap. September prices rose 3.7% from a year earlier — hotter than August’s 3.4%, hotter than the 3.6% economists were expecting — and Wall Street didn’t take it well. The Nasdaq sank 1.88%, the S&P 500 gave up 1.11%, and a handful of high-flying AI stocks got … Read more
