The market responded sharply to the news, pushing SpaceX shares up 8.3% to $160.00 in after-hours trading, while Tesla saw a more modest gain of 1.5% to reach $379.37. Beyond the aerospace and automotive sectors, broader tech volatility defined the session.
In section Market Quotes
SpaceX Shifts Strategy as Tech Stocks React to Mixed Earnings
After years of private operations, SpaceX has officially posted its first profit as a public entity, fueled by a surge in artificial intelligence revenue. This milestone coincides with Elon Musk confirming that internal committees at both SpaceX and Tesla are actively reviewing a potential merger between the two firms.
Netflix struggled to maintain momentum, with shares sliding 5.6% to $64.87. The decline follows a difficult third quarter marked by decelerating revenue growth, a series of significant layoffs, and the exit of two key content executives. Conversely, Super Micro Computer signaled robust health, jumping 16% to $37.53 after announcing that first-quarter revenues and gross margins will surpass previous projections due to unrelenting AI demand. Meanwhile, Intuitive Surgical faced a mixed reception; despite beating Wall Street’s expectations for revenue and adjusted earnings, the company’s stock dropped 6.9% to $407.60 following a substantial litigation charge that weighed on bottom-line profits.
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