A Tesla Cybertruck outside the SpaceX facility in Hawthorne, California, on June 12, 2026, the day of SpaceX’s initial public offering.
Mike Blake | Reuters
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
For fans of the Marvel Universe, crossovers between movies are common, as is the tagline for Marvel’s 2018 blockbuster: “Infinity War is the most ambitious crossover event in history.”
But in the corporate world, Elon Musk is considering a more ambitious space merger: SpaceX and Tesla.
What you need to know today
Similar to crossovers that bring Marvel characters from separate stories onto the same screen, Elon Musk revealed: space x and teslatwo disparate companies are discussing a merger, a move that would combine electric vehicles, rockets, satellites and artificial intelligence ambitions all into the same entity.
During SpaceX’s third-quarter earnings conference, Musk said merging his company with the automaker was a “good idea,” adding that the boards of both companies had formed a special committee to discuss the partnership.
If Musk falls under the category of “opposing party,” he will not participate in the talks, but he said there are many benefits to combining the two companies, pointing to the possibility of cooperation in areas such as software and chips.
SpaceX’s third-quarter earnings beat expectations, with operating income of $2.8 billion and net income of $4.4 billion.
Revenue was $14.58 billion, compared to the expected $12.72 billion, and adjusted earnings per share were 45 cents, well above expectations of 13 cents.
Chief Financial Officer Brett Johnsen said on a conference call that LSEG expects first-quarter sales of $33 billion to $37 billion, beating analysts’ average estimate of $22.2 billion.
musk and starlink
However, just like in other Marvel movies, the main character can also be the villain.
Mr. Musk reportedly ordered the military Starlink service used by Ukraine to slow down, limit the speed of movement of connected hardware, and nearly disable some attack and interception drones.
The Wall Street Journal reported that Musk and Trump discussed the decision in a phone call shortly after the economic slowdown became public.
Musk has previously said that any restrictions on the system will ultimately be determined by the U.S. military and the president. But President Trump told reporters Monday that he didn’t know who was responsible.
Netflix results
Elsewhere, investors turned off their televisions Netflixsold shares in after-hours trading even though the company beat third-quarter profit estimates.
Netflix reported profit of $3.66 billion, or 87 cents a share, compared to analysts’ expectations of 82 cents. Revenue rose 12% to $12.87 billion, in line with expectations.
However, the company’s stock price fell after the company lowered its advertising outlook and released fourth-quarter revenue guidance that fell short of Wall Street expectations.
Netflix is expected to have revenue of $13.44 billion for the current quarter, compared to analysts’ expectations of $13.52 billion.
President Trump’s trade issues
Months after the Supreme Court successfully struck down President Donald Trump’s “reciprocal” tariffs, the legal group Liberty Justice Center is back in court against the president.
This time, the group is representing New Jersey-based food importer Gellert Global Group in challenging President Trump’s invocation of a Depression-era law that imposes 50% tariffs on various Canadian products.
The complaint asks the court to declare the tariffs illegal, block their enforcement, and order the Trump administration to refund the duties already paid with interest.
“No president should have the power to pull dormant legislation off the shelf and use it to impose sweeping tariffs and import bans without the restrictions Congress requires,” Gellert CEO Sarah Albrecht said in a statement Tuesday morning.
And finally…
Boeing wins FAA approval for 737 Max 10 after years of delays
The Federal Aviation Administration on Tuesday approved the launch of the Boeing 737 Max 10 after years of delays. This is a major victory for the company, and is the last of its best-selling family of jets to receive government approval.
The green light came weeks after federal authorities investigated a problem with the plane’s navigation system and determined it was not a flight safety issue.
The 737 Max 10, the family’s largest model with seating for up to 230 people, was scheduled to begin flying in 2020, but increased scrutiny following two Max crashes in 2018 and 2019 and other safety issues delayed certification.
— Leslie Josephs
