SpaceX Exceeds Estimates in First Earnings Report | Closing Bell

U.S. stocks rallied to record highs as SpaceX reported better-than-expected first quarterly results following its blockbuster IPO. Hosts focused on the risk that a massive lockup expiry in two days, combined with heavy short interest, could put downward pressure on SpaceX shares. Other earnings from AMD, Paramount, Amgen, and Booking were also discussed. - S&P 500 closes at a record high, first since June 2, with the Dow up over 900 points. - SpaceX Q2 revenue of $7.8B beats the $6.81B estimate; AI segment operating loss narrower than expected. - Starlink subscribers hit 12 million, in line with expectations; CapEx at $18.37B. - Concern raised about an 911-million-share lockup expiry in two days, potentially adding significant supply. - Short interest exceeds 200 million shares, creating additional risk of downward pressure on SpaceX. - AMD, Paramount, Amgen, and Booking also reported results. - Starship program updates were highlighted as crucial for SpaceX’s future orbital data-center ambitions.