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Cranberry Journal

Thursday, October 22, 2026

Also in this edition
Markets
  • S&P 5007,666.89−1.16%
  • Nasdaq26,136.42−2.12%
  • Dow52,779.33−0.14%
  • 10-yr yield5.01%−2.70%
  • Crude$98.40+1.29%
At the close · Oct 22

Elon Musk

Tagged stories

An aerial view of a long white factory building with a red stripe and solar panels on its roof, beside a large car park, in a desert valley with snow-capped hills behind.
Technology

Tesla Spent $4.73 Billion on Capital Projects Against a Forecast of $7.94 Billion. It Has Cut This Year's Budget to $20 Billion From More Than $25 Billion.

Tesla said on Wednesday 21 October that third-quarter capital spending was $4.73 billion and free cash flow was positive $1.53 billion, against S&P Global Market Intelligence forecasts of $7.94 billion and negative $4.09 billion. On the earnings call it cut its 2026 capital spending guidance to about $20 billion from more than $25 billion. Revenue was flat at $28.05 billion and GAAP operating income fell 55.8 per cent.

By Alison Acosta  

An aerial view of a coastal launch site with a tall stainless-steel rocket standing beside tank farms and buildings, with tidal flats and the sea beyond.
Business

SpaceX Earned $4.4 Billion in the Third Quarter, $1.6 Billion of It Outside Operations. Musk Says SpaceX and Tesla Have Each Formed a Merger Committee.

SpaceX said on Tuesday 20 October that third-quarter revenue rose 161 per cent to $14.575 billion and net income was $4.404 billion, against a loss a year earlier. On the earnings call, Elon Musk said he thinks SpaceX and Tesla have each formed a special committee to discuss combining. Neither company has announced the committees or filed anything about them, and no terms exist.

By Alison Acosta