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Monday, October 26, 2026Oct 26, 2026 · morning edition

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Musk's Starlink slowdown disrupts Ukraine's drone war

A speed cap on SpaceX's military-grade Starlink reportedly hampered Ukrainian drone missions this month, and Kyiv, the Trump administration and Musk are now sparring over who ordered it and why.

Signal feed

8 moves
Elon MuskPolicyAerospacePrivateAI read · ▼ Diplomatic fallout

SpaceX's Starlink slowdown disrupts Ukraine drone missions

The move

The Wall Street Journal reported Musk ordered a slowdown of the military-grade Starlink/Starshield service Ukraine relies on, capping fast-moving terminals at roughly 160 km/h. Ukrainian officials said the change came without warning and hampered attack and air-defense drone missions against Russia. President Zelenskyy called it "a big mistake" that "will bring a lot of human losses." Musk responded on X that speed and usage limits on Starshield are set by the U.S. military and ultimately the president, not SpaceX.

Why it matters

It ties a private company's infrastructure decision directly to a live war, with the Trump administration disputing who is responsible.

The bear case

Musk and the White House both say they aren't the ones imposing the limits, and the cause could be technical rather than deliberate.

What to watch

Whether Congress opens the formal probe some lawmakers have called for.

Source · ReutersRead original ↗Report an error
Mukesh AmbaniIPO / MarketsOtherPrivateAI read · ▲ Blowout demand

Reliance's Jio Platforms IPO fully booked in minutes

The move

Jio Platforms' ₹30,213 crore (roughly $3.6 billion) IPO opened Oct. 21 at a price band of ₹1,065 to ₹1,119 per share and was fully subscribed within about 100 minutes. Bidding closed Oct. 23, allotment was finalized Oct. 26, and shares are set to list on the BSE and NSE on Oct. 28.

Why it matters

It's India's largest-ever IPO and a major test of investor appetite for Mukesh Ambani's telecom and digital arm.

The bear case

Heavy anchor and retail demand before listing doesn't guarantee a strong debut once the stock actually starts trading.

What to watch

Jio Platforms' Oct. 28 trading debut on the BSE and NSE.

Source · PSU ConnectRead original ↗Report an error
Mark ZuckerbergPolicyAI & techMETAAI read · — Tax hedge

Meta creates new stock class tied to Zuckerberg's tax bill

The move

Meta's October filing created a new non-voting Class C common stock, effective January, that lets Zuckerberg sell or transfer up to 20% of his granted shares without losing voting control. In exchange, he has committed to staying in California for at least eight years. The move anticipates Proposition 40, a Nov. 3 California ballot measure that would impose a one-time 5% tax on residents' net worth above $1 billion.

Why it matters

It lets Zuckerberg plan for a possible state tax bill without selling down his voting stake in Meta.

The bear case

Prop 40 hasn't passed yet, and voters could reject it on Nov. 3, making the new share class unnecessary.

What to watch

California's Nov. 3 vote on Proposition 40.

Source · CNBCRead original ↗Report an error
Jensen HuangInvestmentAI & techNVDAAI read · ▲ New frontier

Nvidia's Huang visits Kazakhstan, backs AI buildout

The move

On his first trip to Kazakhstan, Nvidia CEO Jensen Huang met President Tokayev as Firebird signed an investment agreement with the Kazakh government and secured a U.S. export license for 45,000 Nvidia Grace Blackwell GPUs. Nvidia is also taking part in the Data Center Valley project in Ekibastuz with Kazakhtelecom, which expects to begin commercial operations in the third quarter of 2027. Kazakhtelecom has already deployed 880 Nvidia GPUs in Astana and Almaty.

Why it matters

It extends Nvidia's push to build AI infrastructure in new international markets beyond the U.S. and China.

The bear case

Export licenses and government agreements don't guarantee the data centers get built on schedule.

What to watch

Data Center Valley's first phase, targeted for the third quarter of 2027.

Source · The Astana TimesRead original ↗Report an error
Mary BarraIPO / MarketsAutosGMAI read · ▲ Strong quarter

GM profit jumps 32%, launches $20 billion buyback

The move

GM reported Q3 2026 revenue of about $50 billion, adjusted EPS of $3.70 (up 32% year over year), net income of $3.3 billion and EBIT-adjusted of $4.1 billion. The company repurchased $2.5 billion of shares in the quarter plus $1 billion more in October, exhausting its prior buyback authorization, and its board approved a new $20 billion multi-year repurchase program. Barra said "GM is performing well, and we are working hard to continue our momentum despite growing inflationary pressures."

Why it matters

It shows GM's North American business, especially trucks, is still generating strong cash flow.

The bear case

GM International's EBIT fell 87.7%, and the company has booked $11.2 billion in EV-related restructuring charges since mid-2025.

What to watch

GM's fourth-quarter guidance, which analysts read as weaker than Q3.

Source · dbusiness.comRead original ↗Report an error
Miriam Adelson & familyIPO / MarketsReal estateLVSAI read · ▼ Miss

Las Vegas Sands profit falls on Asia high-end slowdown

The move

Las Vegas Sands reported Q3 2026 net revenue of $3.2 billion, down from $3.3 billion a year earlier, and net income of $352 million, down from $491 million. Adjusted EPS of 54 cents missed the 68-cent analyst estimate. The company still bought back $950 million of stock in the quarter. CEO Patrick Dumont said "the high end was softer in both of our markets this quarter, which negatively impacted our reported financial results."

Why it matters

It points to cooling VIP gambling demand in Singapore and Macau, the company's two main markets.

The bear case

Continuing a $950 million buyback despite the earnings miss suggests management sees the dip as temporary, not structural.

What to watch

Whether high-end demand recovers in Macau and Singapore next quarter.

Source · CDC GamingRead original ↗Report an error
Elon MuskIPO / MarketsAutosTSLAAI read · — Partial recovery

Tesla's Q3 revenue holds flat as margins keep shrinking

The move

Tesla reported Q3 2026 revenue of $28.05 billion, flat year over year and in line with the $28.06 billion consensus. Non-GAAP EPS was $0.48, beating the $0.45 estimate but down 4% from $0.50 a year earlier. GAAP net income was $787 million, down 43%. Deliveries were 486,532, down 2.1% year over year but ahead of the 461,974 consensus; energy storage deployed was 13.7 GWh, below the roughly 15.9 GWh expected. Operating margin was 2.6%, versus 5.8% a year ago and 1.4% in Q2.

Why it matters

Deliveries and EPS beat estimates, showing demand is holding up even as profitability stays under pressure.

The bear case

Operating margin is still less than half what it was a year ago, and GAAP net income fell sharply.

What to watch

Tesla's Q4 2026 results, due early next year.

Source · ElectrekRead original ↗Report an error
Elon MuskLeadershipAutosTSLAAI read · — No merger, for now

Tesla sets Dec. 3 vote on Musk's $158 billion pay

The move

Tesla filed its proxy for a Dec. 3 annual meeting with three items: re-electing Elon Musk, board chair Robyn Denholm and director JB Straubel for three-year terms; a non-binding advisory vote on Musk's reported 2025 compensation of $158.36 billion; and ratifying PricewaterhouseCoopers as auditor. The proxy does not include a proposed merger between Tesla and SpaceX. Shareholders of record as of Oct. 13 can vote through Dec. 2.

Why it matters

It shows the Tesla-SpaceX merger idea Musk has floated isn't formally on the table for this meeting.

The bear case

The advisory pay vote is non-binding, and the board already pushed through Musk's roughly $1 trillion package in 2025.

What to watch

The Dec. 3 shareholder meeting results.

Source · Tesla NorthRead original ↗Report an error

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