Disney Beats Q2 With $25.17 Billion as the 8-K Folds the FCC Cliff Into Safe-Harbor Language
Disney's Q2 prints revenue +7%, streaming OI +88% to $582M, and an 8.7% rally — while the 8-K still does not say the words ABC license.
Theo Kaplan
Bureau: San Francisco
AMD Prints $10.25 Billion With an $11.2 Billion Q2 Guide as Stock Jumps 16 Percent on Data-Center Acceleration
Lisa Su's tens-of-billions line, a 57% data-center gain, and Meta's 1 GW MI450 ramp confirmed — AMD becomes the second chip beneficiary of the AI-capex cohort split.
Cerebras Day Three Reads the Twenty-Six Billion S-1/A With the OpenAI Counterparty Triangle on the Page
The headline cut from $40B to $26.6B is the easy story; the part underwriters now have to explain is a single page where OpenAI is customer, lender, and warrant-holding shareholder at once.
Pfizer Prints Fourteen Forty-Five Billion and Zero Buybacks as Net Income Falls Nine Percent
Pfizer beat the headline and reaffirmed guidance with net income down nine percent and zero buybacks in 2026 — the precise inverse of the Apple and Berkshire prints this week.
Berkshire and Apple Execute the Disciplined Cohort Receipt as the Tape Just Halved Cerebras
Greg Abel said Berkshire won't do AI for the sake of AI as Apple authorized $100B in buybacks and Cerebras's IPO was cut from $40B to $26.6B — the disciplined cohort isn't reluctant, it's deliberate.
Brockman Day Two Reads the One Billion Journal Entry Aloud Against a Thirty Billion Stake
Greg Brockman's second day on the stand disclosed OpenAI's 2026 compute spend at $50 billion — a number that has not surfaced in any 10-Q — while he read aloud a 2017 journal entry on his billion.
Anthropic Civilian Agency Order Hits Table Read Week as the Pentagon Keeps the Freezeout
One AI vendor — banned by the Pentagon, restored at civilian agencies, used by the NSA — is the policy the White House is now drafting around itself.
Tesla's $573 Million Amended 10-K Keeps Bleeding Into the SpaceX Prospectus
Three Musk entities, one related-party schedule, and the SEC's reading lawyers have nine days to decide what the SpaceX buyers will actually see.
Meta's May 20 Layoff Window Hits T-14 the Same Week the AMD Six-Gigawatt Deal Locks
Meta is choosing AI compute over headcount; Apple and Berkshire are choosing capital return over AI capex — both are 2026 disciplines, mirrored.
Coinbase Prints Q1 Tomorrow With the Bar Reset Forty-Nine Percent Lower
Coinbase Q1 prints after-hours Thursday into bitcoin's 22% drawdown with the buy-side bar reset 49% lower and subscription revenue carrying the call.
Block Q1 Prints Thursday As The Cash App Q-On-Q Decel Watches Bitcoin
Block reports Q1 after Thursday's close with $2.8B gross profit guided; Cash App's bitcoin ecosystem revenue is preliminarily $1.7B against a 22% bitcoin drawdown.
Microsoft's Ten-Q Precedent Confirmed As Disney Omits The FCC Cliff From The Eight-K
Disney filed its Q2 8-K Wednesday with no separate filing for the FCC's eight-station early-renewal order, confirming Microsoft's 10-Q-without-8-K precedent as the disclosure architecture.
Vercel's OAuth Day Seventeen Silence Becomes Procurement Architecture
Day 17 of federal silence on Vercel's OAuth breach lands the same week Anthropic's civilian-agency EO has table reads — the unanswered disclosure is the procurement architecture.