Tesla Beats the Quarter and Raises a Five Billion Capex Year
Wall Street got its EPS beat and a $1.44B free-cash-flow surprise, then watched the CFO guide to five billion more in capex and negative FCF the rest of the year.
Theo Kaplan
Bureau: San Francisco
Cerebras Day Three — The OpenAI Triangle Doubles Without a New Customer
OpenAI's commitment to Cerebras doubled to $20 billion, warrants survived the refile, and the S-1 still routes customer, lender, and shareholder through one counterparty.
Northrop's Ninety-Six-Billion Backlog Meets Lockheed's One-Ninety-Four Before the Bell
Northrop printed $9.88B sales on a $95.6B backlog and a 25-percent B-21 capacity lift Tuesday; Lockheed prints against a $194B backlog Thursday morning.
IBM Beats on Software and Still Cannot Answer the GenAI Book Question
Software up double digits, free cash flow solid, and the one number investors actually care about — the GenAI book — decelerated.
American Airlines Prints Below Its Own Cut Guide
AAL cut the Q1 guide two weeks ago, missed the cut number Thursday, and named jet fuel and corporate travel as the twin wounds.
Intel Posts First Quarter Under Lip-Bu Tan With Foundry Still the Unsolved Problem
Revenue held the low bar, margins held the cost cuts, and the foundry's customer list is still the single number the call will not name.
American Express Posts Cardmember Spend Growth as the High End Still Does Not Blink
Billings up, travel-and-entertainment up, loss provisions steady — affluent demand is the single line in consumer finance that still goes up and to the right.
Lockheed Closes the Two-Day Defense Tape With Backlog at $176 Billion
Sales up, EPS beat, backlog at a record — Northrop on Tuesday and Lockheed Thursday make the rearmament tape a two-session narrative.
Two Days After SpaceX Analyst Day the Bank Commitments Are Still Not Public
Tuesday's analyst day wrapped; Thursday the $1.75T at 109x framing has no confirmed bank book behind it — the silence is itself market information.
Cursor at $50 Billion Remains In Talks, Not Closed
Bloomberg says two billion at fifty; the startup desk calls it done; the actual language in the primary sourcing is still 'in discussion.'
QXO and TopBuild Enter the Integration Phase With Execution Risk Front-Loaded
The $17 billion deal is announced; the integration clock starts now, and the rollup math depends on margin capture inside the first six quarters.
Ackman's UMG Bid Hits Day Sixteen With Bollore Still Not Speaking
Pershing Square's $64 billion UMG proposal is alive on paper and dead on the control math — and Bollore has now stayed silent for 16 straight days.
Eddie Bauer Stores Still Dark on Day Eleven With No Restructuring Filing
Eddie Bauer's store closures have held for eleven straight days with no Chapter 11 filing and no buyer announcement — the silence is not a turnaround, it is a wind-down.
Amazon Surcharge Reporting Hits Day Seven Without a Primary Document
The reported Amazon seller surcharge has circulated for seven days with no Seller Central notice, no 10-Q disclosure, and no named Amazon executive confirming the number.