Bloomberg Intelligence

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses Meta earnings. Meta Platforms Inc. shares fell after Chief Executive Officer Mark Zuckerberg told investors the company would bet even more aggressively on artificial intelligence. The company boosted its capital spending plans for the year and announced a new class of nonvoting stock that could be used to help pay for acquisitions and other expenses.

-David Welch, Bloomberg Detroit Bureau Chief, discusses Tesla earnings. Tesla Inc. pulled back its spending plans after investment last quarter trailed expectations, with capital expenditures to be around $20 billion this year. The company had been consistently short of the pace needed to hit its spending goal, particularly after a $4.73 billion outlay in the third quarter, with analysts having expected $7.95 billion on average.

-Liam Denning, Bloomberg Opinion Columnist, discusses the column: “SpaceX-Tesla Is a Strange, But Certain, Deal.” Elon Musk confirmed that SpaceX and Tesla have formed special committees to examine a potential merger, with Musk noting his personal preference for a deal. SpaceX's quarterly results eclipsed Tesla's, with SpaceX reporting its first quarterly positive net income of $4.4 billion, compared to Tesla's results.

-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, recaps Comcast earnings. Comcast lost 144,000 residential broadband customers in the third quarter, more than the 133,000 losses predicted by Wall Street. The company's media operations at NBCUniversal are performing well, with Peacock reporting a 17% increase in paid subscribers and Universal seeing its highest grossing film of all time.
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Meta Platforms boosted its capital spending outlook and announced plans for a new class of nonvoting stock, escalating its already-stratospheric bet on artificial intelligence. Capital expenditures will be $135 billion to $145 billion in 2026, the social-media giant said during its quarterly earnings report Wednesday, raising the bottom end of the range from $130 billion. The moves show that Meta has confidence that its spending on artificial intelligence will bear fruit. Chief Executive Officer Mark Zuckerberg has struggled to persuade investors to accept the company’s ballooning expenses for ambitious AI bets. But in recent months, Meta has made headway with its technology.
Meta shares rose in after-hours trading on Wednesday. They had gained about 6% this year through the close in New York.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with Ed Ludlow, Bloomberg Tech co-host.
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Sana Pashankar, Bloomberg Space Reporter, discusses Elon Musk endorsing the prospect of combining SpaceX with Tesla, uniting assets from electric cars to AI data centers to rocket and satellite capabilities. Musk said the boards of both companies had formed special committees to consider the idea of a combination, but cautioned that getting enough support from Tesla shareholders may be tricky.

-Matt Henriksson, Bloomberg Intelligence Senior Equity Analyst, discusses Abbott Laboratories planning to spin off its nutrition unit into a separate publicly traded company through a tax-free distribution to shareholders. The new company will have annual sales of about $8.5 billion from its key brands, including Pedialyte and Ensure, and will be led by Daniel Salvadori as chief executive officer.

-George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses United Airlines forecasting weaker-than-expected earnings for the final three months of the year due to soaring jet fuel prices. United shares rose more than 4% after the carrier commented on strong operating revenue and reassurance on 2027 pretax margin targets.

-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Netflix earnings. Netflix reported its slowest sales jump in three years and forecast a fourth consecutive quarter of slowing growth, amplifying concerns about the performance of the world’s leading online TV network. The company blamed its sales shortfall on the advertising business, which is on pace to deliver $300 million less than expected, and has overhauled its leadership to address a decline in programming quality.
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SpaceX exceeded estimates for quarterly revenue and profit, driven by substantial growth in its artificial intelligence and satellite internet businesses.
Elon Musk’s satellite, rocket and AI conglomerate posted $4.4 billion in net income for the quarter ended in September, far better than analysts’ average projection of $1.88 billion. Revenue increased 161% from a year ago and also beat expectations.
SpaceX shares rose in New York after the close of regular trading.
For instant reaction and analysis, Bloomberg Businessweek Daily guest hosts Norah Mulinda and Alexis Christoforous speak with:
Ed Ludlow, Bloomberg Tech co-host
George Ferguson, Bloomberg Intelligence Global Head of Aerospace, Defense & Airline Analysis
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Craig Trudell, Bloomberg Managing Editor of Global Business Coverage, discusses General Motors earnings. GM shares fell as shareholders focused on a narrower profit outlook despite plans for another $20 billion in stock repurchases. The company now sees 2026 adjusted earnings before interest and taxes in a range of $14.5 billion to $15.5 billion, compared with the $14 billion to $16 billion range it projected in July. GM's board approved the new round of buybacks, which will be funded on an ongoing basis over a multi-year period of time, adding to the $29.5 billion already spent by the company buying back its shares since 2023.

-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Salesforce agreeing to buy Braze Inc. for almost $5.7 billion in enterprise value, paying Braze investors $47.50 per share. Braze gathers customer data in real time and uses AI to generate personalized messaging for different media and methods of communication, serving around 2,770 customers. The deal is expected to close in Salesforce’s fiscal 2028 and will be used to bolster several of its products, particularly those for marketing and customer communication via Agentforce.

-Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Nscale being in talks to sell computing power to Anthropic PBC in a deal that could be worth about $45 billion, according to people familiar with the negotiations. The deal would be for a second facility at Nscale's Monarch data center campus in West Virginia, which would deliver 460 megawatts of computing power using Nvidia's advanced Vera Rubin AI chips. A deal could be finalized as soon as in the coming days, but deliberations are ongoing and details of the plan could change, with Nscale still needing to secure financing to fund the supply of AI chips.

-Lindsay Dutch, Bloomberg Intelligence Consumer Hardlines Senior Analyst, discusses Hasbro earnings. According to Bloomberg Intelligence: Hasbro's raised outlook reflects further strength and better-than-expected growth for Magic: The Gathering, while the Consumer Products unit's 4% net sales increase for 3Q keeps it on track for low-single-digit growth this year. Comparisons will be tougher for both in 4Q, with sales growth likely to decelerate. Earnings in 3Q were aided by $55 million in tariff refunds, with margin pressure also likely to resume in 4Q, especially for the Consumer Products segment.
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