What to look for in Oracle’s Q3 earnings
As the S&P 500 announces new members, index investors could get exposure to SpaceX
“Tesla killer” Slate Auto switches CEOs ahead of launch later this year
Prediction markets show “One Battle After Another” leads in Oscar race for Best Picture
Oil-sensitive stocks and companies relying on middle-class spending are getting crushed
Amazon’s autonomous ride-hailing service now testing in 10 markets
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Deep Dives
- The power play behind Hyperion, Mark Zuckerberg’s colossal data center being built in rural Louisiana
- Clean energy investment hit a new record last quarter, mostly driven by EVs
- The cruise industry is booming thanks to younger consumers looking to “seacation”
- Reading an article online? It’s now a coin flip whether it was authored by a human or AI
Latest Stories
What to look for in Oracle’s Q3 earnings
On Tuesday, Oracle will announce its third-quarter earnings, and all eyes are on the company’s massive AI data center build-out. Last month, the company told investors that it plans to raise $45 billion to $50 billion to fund its ambitious capex plans.
With so much new spending, the company is reportedly looking to make steep job cuts — thousands of positions across the company — and may be freezing hiring in its cloud division.
Shares of Oracle are down by more than 20% since the start of the year. The stock is down about 56% from its 52-week high of $345.72.
The company’s big bet on AI is causing some concerns among investors, and Oracle has recently seen a wave of lowered price targets from analysts:
Jefferies: to $320 from $400.
Scotiabank: to $215 from $220.
Deutsche Bank: to $300 from $375.
Baird: to $200 from $300.
On Friday, shares dropped sharply on reports that OpenAI had pulled out of a planned expansion of the Stargate data center in Abilene, Texas. But OpenAI has since clarified that the decision to back out of plans for the expansion was just the result of shifting capacity to other data center sites under construction.
The company will announce its earnings after market close on Tuesday.
FactSet’s survey of analysts shows they expect earnings per share of $1.70 and revenue of $16.9 billion for Oracle’s third quarter. Cloud revenue is expected to be $8.76 billion, and all eyes will be on Oracle’s capex, which is expected to be $14 billion.
Joby, Archer, and Beta climb following their inclusion in the Trump administration’s air taxi pilot program
Shares of air taxi makers Joby Aviation, Archer Aviation, and Beta Technologies are climbing in Monday afternoon trading following the Department of Transportation’s announcement of their inclusion in the eVTOL Integration Pilot Program.
Archer and Joby, which announced their plans to participate in the program back in September, each climbed more than 4% on Monday, while Beta surged more than 12%. Boeing’s air taxi subsidiary, Wisk, was also named in the DOT’s announcement.
The DOT and FAA selected eight projects spanning 26 states to speed up the development of “advanced air mobility.” Operations will begin this summer. According to an Archer press release, the program could mark “a major step toward bringing electric air taxis to market in the United States.”
“These partnerships will help us better understand how to safely and efficiently integrate these aircraft into the National Airspace System,” FAA Deputy Administrator Chris Rocheleau said. “The program will provide valuable operational experience that will inform the standards needed to enable safe Advanced Air Mobility operations.”
As the S&P 500 announces new members, index investors could get exposure to SpaceX
Here’s something kind of strange.
If all goes as planned, investors in the most basic kind of investment available — your plain-vanilla, low-cost S&P 500 Index fund, such as SPDR S&P 500 ETF — will soon get a form of pre-IPO exposure to Elon Musk’s SpaceX, one of most sought-after stakes in the private markets.
That’s because one of the new companies that will be added to the S&P 500 (via additions announced on Friday) is EchoStar, the indebted satellite services company that owns Dish Network.
EchoStar — which along with Vertiv Holdings, Lumentum, and Coherent will go into the index on March 23 — is also set to become a not insignificant owner of class A common stock in SpaceX.
SpaceX is said to be targeting an over $1 trillion valuation for an IPO this June. EchoStar has struck deals for shares that would give it a roughly 2.8% stake in SpaceX, analysts say.
SpaceX sold that stake to pay EchoStar for part of the roughly $20 billion cost of prized spectrum assets. The company first struck a spectrum deal with SpaceX in September, before it expanded in November. Investors have since seemed to view the company as a way to gain backdoor exposure to Musk’s hot, privately held space company.
That excitement continues, but it should be noted that even though EchoStar struck a deal for SpaceX shares, company officials say that stock is not yet in its coffers and it won’t be until its SpaceX deals close.
Speaking to analysts after the company’s earnings call on March 2, EchoStar CEO Hamid Akhavan said:
“Until the closing, we don’t have actually the — that SpaceX’s equity. So that is not something that we can make any plans on till we actually get the equity. We have a right to it, but we don’t have the — we actually don’t have that equity yet. So we’ll see how that plays out.”
No closing date was offered when the initial deal with SpaceX was announced in September, with EchoStar releases saying only the “closing of the proposed transaction will occur after all required regulatory approvals are received and other closing conditions are satisfied.”
Southwest stopped fuel hedging a year ago. Whoops.
It’s been a year since Southwest said it would end its fuel-hedging program. Oil’s moves this year make that decision look like a mistake.
Perpetual futures grow beyond crypto
As “perps” expand to traditional finance, here’s how the derivatives function, where risks lie, and how it differs from conventional futures contracts.
“Tesla killer” Slate Auto switches CEOs ahead of launch later this year
Just months before the expected launch of its $25,000 truck, so-called “Tesla killer” Slate Auto has swapped out its CEO. Former Amazon Marketplace Vice President Peter Faricy is the new leader of the Jeff Bezos-backed company, while the previous CEO, Chris Barman, one of the electric truck maker’s first employees, is now president of vehicles.
“ The marketplace component is really important to us. Being able to understand how to sell things in the 21st century is really important because we're gonna be direct to consumer, without dealerships,” Jeff Jablansky, head of communications at Slate, said of the change. “The way Chris put it is, we are adding horsepower at a critical moment when people are going to be able to actually order their trucks.”
In a social media post just last month, then CEO Barman said the company would unveil the exact price tag for its Blank Slate, which goes on sale late in 2026, in June, but reaffirmed it will be in the mid-$20,000s.
“ The marketplace component is really important to us. Being able to understand how to sell things in the 21st century is really important because we're gonna be direct to consumer, without dealerships,” Jeff Jablansky, head of communications at Slate, said of the change. “The way Chris put it is, we are adding horsepower at a critical moment when people are going to be able to actually order their trucks.”
In a social media post just last month, then CEO Barman said the company would unveil the exact price tag for its Blank Slate, which goes on sale late in 2026, in June, but reaffirmed it will be in the mid-$20,000s.
Anthropic sues the US government
In response to the Pentagon’s unprecedented, punitive determination that Anthropic is a national security supply chain risk, the AI startup has sued the US government.
Prediction markets show “One Battle After Another” leads in Oscar race for Best Picture
It’s finally Oscars week — and with voting officially closed, all that’s left to do is count the ballots and wait to see who wins this Sunday night.
This year, the acting categories have been the most interesting to watch, especially the showdown between “Marty Supreme” star Timothée Chalamet and “Sinners” actor Michael B. Jordan for Best Actor. While Chalamet was long the favorite, Jordan has caught up and overtaken him after winning the Actor Award.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
But perhaps the most exciting race of all is for Best Picture. Out of the 10 nominees, the two at the top are Paul Thomas Anderson’s “One Battle After Another” and Ryan Coogler’s “Sinners,” both of which are studio releases from Warner Bros. Discovery.
Which will win the top prize seems to be split among award pundits and experts. As of Monday afternoon, Gold Derby still has “One Battle After Another” as the front-runner with odds of 76.87%. AwardsWatch, AwardsRadar, and Numlock Awards are also still predicting that “One Battle After Another” will take the statue for Best Picture.
On the other side, reporters from some major trade publications like Variety’s Clayton Davis and The Hollywood Reporter’s Scott Feinberg predict that “Sinners” will take the top honor.
Odds in the prediction markets currently show that “One Battle After Another” is still ahead of “Sinners,” with the former priced in at 75% while the latter is priced at 23%.
Oil-sensitive stocks and companies relying on middle-class spending are getting crushed
Sometimes there’s a singular story driving the markets. With US benchmark crude oil prices topping $100 a barrel, Monday is one of those days.
Oil-sensitive stocks are getting clobbered, with airlines foremost among them. JetBlue, United Airlines, and Alaska Air are all tumbling.
But the pain is more widespread than that, with industries where oil prices are a major input, such as chemical manufacturers (Eastman Chemical), industrial machinery makers (Illinois Tool Works), and building products (Owens-Corning), also getting shellacked.
More ominous — economically speaking — is the performance of companies catering to America’s middle class, including Macy’s, Kohl’s, Best Buy, and Texas Roadhouse. The drop suggests that investors and traders expect the rising cost of fuel to eat away at disposable income, potentially setting the stage for an economic slowdown.
Some of the worst off on Monday are companies that are both fuel-sensitive and heavily reliant on middle-class consumers — a double whammy.
Cases in point: Carnival is getting creamed, and Clorox, a company that depends on slightly better-off Americans shelling out for its brand-name products, is also getting pummeled.
But the pain is more widespread than that, with industries where oil prices are a major input, such as chemical manufacturers (Eastman Chemical), industrial machinery makers (Illinois Tool Works), and building products (Owens-Corning), also getting shellacked.
More ominous — economically speaking — is the performance of companies catering to America’s middle class, including Macy’s, Kohl’s, Best Buy, and Texas Roadhouse. The drop suggests that investors and traders expect the rising cost of fuel to eat away at disposable income, potentially setting the stage for an economic slowdown.
Some of the worst off on Monday are companies that are both fuel-sensitive and heavily reliant on middle-class consumers — a double whammy.
Cases in point: Carnival is getting creamed, and Clorox, a company that depends on slightly better-off Americans shelling out for its brand-name products, is also getting pummeled.
Amazon’s autonomous ride-hailing service now testing in 10 markets
Amazon self-driving subsidiary Zoox announced Monday that it’s testing in two additional markets, Phoenix and Dallas, bringing its total to 10 US markets. The company will begin by mapping select neighborhoods using retrofitted Toyota Highlander SUVs with safety drivers behind the wheel, before progressing to autonomous testing and eventually rolling out its steering-wheel-less, purpose-built vehicles for public users.
The service is currently available to the public in Las Vegas and to select users in the Bay Area, where it’s served 300,000 riders.
Zoox is also opening a third “Fusion Center” facility, in Arizona after Las Vegas and the Bay Area, from which it will provide assistance and coordinate operations for its fleet.
Zoox’s expansion comes as Alphabet’s Waymo recently reached its 10th public market and as Tesla’s Robotaxi says it plans to open in six new markets in the first half of the year.
The service is currently available to the public in Las Vegas and to select users in the Bay Area, where it’s served 300,000 riders.
Zoox is also opening a third “Fusion Center” facility, in Arizona after Las Vegas and the Bay Area, from which it will provide assistance and coordinate operations for its fleet.
Zoox’s expansion comes as Alphabet’s Waymo recently reached its 10th public market and as Tesla’s Robotaxi says it plans to open in six new markets in the first half of the year.
Microsoft will use Anthropic’s Claude to power “Copilot Cowork”
Microsoft is partnering with Anthropic to power its new agentic offering, Copilot Cowork. The AI world is abuzz with agents that can do your busywork for you, and Anthropic’s Claude Cowork is one of the most prominent and capable offerings in the field.
The tech giant wrote:
“Working closely with Anthropic, we have integrated the technology behind Claude Cowork into Microsoft 365 Copilot. It is this multi-model advantage that makes Copilot different. Your work is not limited by one brand of models.”
Microsoft listed some examples of how Copilot Cowork could help with common tasks such as rescheduling meetings, sending emails, researching companies, working with spreadsheets, and making presentations.
It’s worth stepping back to note how wild it is that Microsoft, the productivity software behemoth that has absolutely dominated the business world for decades, has had to turn to an AI startup to control those apps.
“Working closely with Anthropic, we have integrated the technology behind Claude Cowork into Microsoft 365 Copilot. It is this multi-model advantage that makes Copilot different. Your work is not limited by one brand of models.”
Microsoft listed some examples of how Copilot Cowork could help with common tasks such as rescheduling meetings, sending emails, researching companies, working with spreadsheets, and making presentations.
It’s worth stepping back to note how wild it is that Microsoft, the productivity software behemoth that has absolutely dominated the business world for decades, has had to turn to an AI startup to control those apps.
China’s smartphone slump could strengthen Apple
China smartphone shipments fell 22% year over year in January, according to a new Bernstein research note. The drop was partly due to the timing of Lunar New Year and tough comparisons with last year, when government subsidies boosted sales, but rising memory costs are also weighing on demand — especially in the lower-end segment dominated by Chinese brands.
Low-tier shipments fell 37%, hitting brands like Honor and Vivo particularly hard, while high-end sales from Apple and Huawei held up better. Overall average selling prices rose 13%.
That could be good news for Apple, which sits at the more price-insulated upper end of the Chinese market and has been making a comeback in the country. Apple’s market share grew to 18% in January — in line with Huawei — from 14% a year earlier, while the rest of the market fell 2 percentage points to 65%.
With its scale and industry-leading margins, the iPhone maker is better positioned to absorb higher memory costs. To wit: it recently unveiled the $599 iPhone 17e, which keeps its entry price steady with its predecessor while doubling storage.
Where in the US have gas prices jumped the most since the US attack on Iran?
Drivers in some states are seeing pump prices rise much faster than others.
Live Nation reportedly reaches settlement with DOJ over Ticketmaster
Live Nation is jumping in premarket trading on Monday after reports that it has reached a settlement with the Department of Justice over an antitrust lawsuit that could have forced the company to sell Ticketmaster.
After Bloomberg reported that the company was close to a settlement, The Wall Street Journal early on Monday reported that a deal had indeed been reached with an agreement that crucially spares the entertainment giant from breaking up with Ticketmaster, in return for making it easier for other promoters to compete in Live Nation venues.
The prompt agreement, with negotiations presumably intensifying since the trial kicked off on March 2, is expected to get relief to consumers faster than Live Nation going through a trial, per a Justice Department official cited by the WSJ.
Separately, Politico reported that the settlement would include $200 million in damages to participating states — a tiny fraction of Live Nation’s more than $36 billion market cap. Politico also expects Live Nation to divest more than 10 amphitheaters and cap Ticketmaster’s service fees at its amphitheaters under the agreement.
The settlement, which still requires approval from a judge, is set to be made public on Monday, and has seen about 10 states agreeing to the new framework, according to people familiar with the matter. Other state attorneys general may continue to separately litigate.
After Bloomberg reported that the company was close to a settlement, The Wall Street Journal early on Monday reported that a deal had indeed been reached with an agreement that crucially spares the entertainment giant from breaking up with Ticketmaster, in return for making it easier for other promoters to compete in Live Nation venues.
The prompt agreement, with negotiations presumably intensifying since the trial kicked off on March 2, is expected to get relief to consumers faster than Live Nation going through a trial, per a Justice Department official cited by the WSJ.
Separately, Politico reported that the settlement would include $200 million in damages to participating states — a tiny fraction of Live Nation’s more than $36 billion market cap. Politico also expects Live Nation to divest more than 10 amphitheaters and cap Ticketmaster’s service fees at its amphitheaters under the agreement.
The settlement, which still requires approval from a judge, is set to be made public on Monday, and has seen about 10 states agreeing to the new framework, according to people familiar with the matter. Other state attorneys general may continue to separately litigate.
Leo KoGuan, billionaire Tesla bull, tweets that he purchased another 1 million shares of Nvidia
Billionaire software entrepreneur, philosopher, and now major Tesla and Nvidia bull Leo KoGuan tweeted that he bought another 1 million shares of the chip designer.
“Hopefully, I can contribute a little to calm the nervous market. Good luck all,” he wrote in his message.
Unless KoGuan can work some magic in global oil markets or conflict resolution in the Middle East, however, “a little” may be all he’s able to contribute in favor of market tranquility.
Stocks, including Nvidia, are modestly positive this morning despite the spike in oil prices weighing on major indexes.
Unless KoGuan can work some magic in global oil markets or conflict resolution in the Middle East, however, “a little” may be all he’s able to contribute in favor of market tranquility.
Stocks, including Nvidia, are modestly positive this morning despite the spike in oil prices weighing on major indexes.