SpaceX goes first. Tesla and Meta are next.
The coming week’s earnings, company catalysts and numbers to watch.
Read editionMarkets, money and the madness in between.
Markets move.
Know why.
The companies. The numbers. The consequences for your money.
A clear-eyed briefing on U.S. stocks, earnings and the catalysts that matter. Follow the business behind the headline, then open the sources for yourself.
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Musk’s $10.7B SpaceX pledge. Cliffs beats its forecast.
Read this edition ↗Companies before noise.Numbers with context.Sources you can open.
From the newsletter
The story behind the move.
Start with the fundamentals
Make the next headline make sense.
01
Earnings & expectations
An earnings beat. A falling stock. What changed?
Learn why stocks can fall after beating earnings estimates, how guidance changes the picture, and which comparisons matter before explaining a market reaction.
Read the guide ↗ 4 min02Company outlooks
Guidance: read the range, then the assumptions.
A practical guide to company earnings guidance: ranges, midpoints, prior forecasts, analyst estimates, GAAP adjustments and the assumptions behind the outlook.
Read the guide ↗ 4 min03Cash flow & accounting
Profit on paper. Cash in the business.
Understand why net income and free cash flow differ, how operating cash flow and capital expenditure connect them, and what a headline cash number can leave out.
Read the guide ↗ 4 minStocks, first.
Company results, capital spending, competitive shifts and what changes the earnings picture.
The market in context.
A compact watchlist, analyst moves and the macro developments with a clear consequence for investors.
A view beyond today.
Saturday’s week in review and Sunday’s look at the catalysts ahead.
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