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Elon Musk’s Space X to launch Starship rocket: What to know

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SpaceX is counting down to the first test flight of its Starship, the most powerful rocket ever built, designed to send astronauts to the Moon, Mars and beyond.

Elon Musk’s SpaceX made final preparations to launch its powerful new Starship rocket system into space for the first time on a brief but highly anticipated, uncrewed test flight from the Texas coast.

Here is what to know about Monday’s launch and the tech billionaire’s project.

What is Starship?

  • The rocket is the biggest and mightiest ever built, and its maker has lofty goals of ferrying people to the Moon and Mars. It is 120 metres (394 feet) high and stands taller than the Statue of Liberty.
  • The stainless steel Starship has 33 main engines and 7.6 million kilogrammes (16.7 million pounds) of thrust.
  • Given its muscle, Starship could lift as much as 250 tonnes and accommodate 100 people on a trip to Mars.
  • SpaceX foresees eventually putting a Starship into orbit and then refuelling it with another Starship so it can continue on a journey to Mars or beyond.

‘Multiplanet civilization’ 

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  • Musk said the goal is to make Starship reusable and bring down the price of space travel to a few million dollars per flight.
  • “In the long run – long-run meaning, I don’t know, two or three years – we should achieve full and rapid reusability,” he said, according to a report by the Agence France-Presse news agency on Monday.
  • The eventual objective is to establish bases on the Moon and Mars and put humans on the “path to being a multiplanet civilization,” Musk said.

At what time is the launch and where can you watch it?

  • The two-stage rocket is due for blastoff from the SpaceX facility at Boca Chica, Texas, during a two-hour launch window that opens at 7am (12:00 GMT).
  • According to SpaceX, a live webcast “will begin 45 minutes before liftoff” (11:15 GMT), which can be accessed at this link.

What is expected on Monday?

  • If all goes as planned on Monday, all 33 Raptor engines will ignite simultaneously to lift the Starship into a flight that nearly completes a full orbit of the Earth before it re-enters the atmosphere and free falls into the Pacific at supersonic speed about 100km (60 miles) off the northern Hawaiian Islands.
  • If Starship reaches the three-minute mark of flight after launch, the booster will be commanded to separate and is expected to execute the beginnings of a controlled return flight into the Gulf of Mexico.
  • Starship’s blazing re-entry over the Pacific will test its ability to aerodynamically steer itself using large flaps and for its heat shields to withstand the intense friction generated as it plummets through the atmosphere.
  • “The ship will be coming in like a meteor,” Musk said. “This is the first step in a long journey that will require many flights.”
SpaceX Starship's full stack is seen on its launchpad near Brownsville, Texas, U.S. in an undated photograph. SpaceX
SpaceX Starship’s full stack is seen on its launchpad near Brownsville in the US state of Texas [File: Reuters]

Will the Starship launch succeed?

  • Musk is not hopeful about the chances of success on Monday.
  • “Success is not what should be expected,” Musk told a private Twitter audience on Sunday night, saying the best-case scenario would provide crucial data about how the vehicle ascends to space and how it will fly back to Earth.
  • “Probably, tomorrow will not be successful, he said. “It’s just a very fundamentally difficult thing.”
  • Musk said it’s more likely for the flight to be postponed than to launch on Monday. SpaceX has backup launch windows on Tuesday and Wednesday for roughly the same times.

Who else is investing in Starship?

  • California-based SpaceX has a $3bn contract with NASA to land astronauts on the Moon as early as 2025.
  • It would be the first Moon landing by astronauts in more than 50 years.
  • The moonwalkers are to leave Earth on NASA’s Orion capsule and a Space Launch System rocket, transfer to Starship in lunar orbit for the descent to the surface and then return to Orion.
  • But Starship isn’t just for NASA. The first flight by a private crew is planned to orbit Earth. Two private flights to the Moon are also in the works – no landings, just fly-arounds.
Moon
The first trip by NASA astronauts to the Moon in more than 50 years is planned on a Starship rocket [File:Luis Acosta/AFP]

 

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Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin's Fourth Halving Arrives – Investor's Business Daily

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[unable to retrieve full-text content]

  1. Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin’s Fourth Halving Arrives  Investor’s Business Daily
  2. Iran fires at apparent Israeli attack drones: Mideast tensions  The Associated Press
  3. S&P 500 extends losing streak to sixth day, Dow up 210 points  Yahoo Canada Finance
  4. Stock Market Today: Dow, S&P Live Updates for April 19  Bloomberg
  5. Stock market today: Wall Street limps toward its longest weekly losing streak since September  CityNews Kitchener

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Netflix stock sinks on disappointing revenue forecast, move to scrap membership metrics – Yahoo Canada Finance

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Netflix (NFLX) stock slid as much as 9.6% Friday after the company gave a second quarter revenue forecast that missed estimates and announced it would stop reporting quarterly subscriber metrics closely watched by Wall Street.

On Thursday, Netflix guided to second quarter revenue of $9.49 billion, a miss compared to consensus estimates of $9.51 billion.

The company said it will stop reporting quarterly membership numbers starting next year, along with average revenue per member, or ARM.

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“As we’ve evolved our pricing and plans from a single to multiple tiers with different price points depending on the country, each incremental paid membership has a very different business impact,” the company said.

Netflix reported first quarter earnings that beat across the board on Thursday, with another 9 million-plus subscribers added in the quarter.

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Subscriber additions of 9.3 million beat expectations of 4.8 million and followed the 13 million net additions the streamer added in the fourth quarter. The company added 1.7 million paying users in Q1 2023.

Revenue beat Bloomberg consensus estimates of $9.27 billion to hit $9.37 billion in the quarter, an increase of 14.8% compared to the same period last year as the streamer leaned on revenue initiatives like its crackdown on password-sharing and ad-supported tier, in addition to the recent price hikes on certain subscription plans.

Netflix’s stock has been on a tear in recent months, with shares currently trading near the high end of its 52-week range. Wall Street analysts had warned that high expectations heading into the print could serve as an inherent risk to the stock price.

Earnings per share (EPS) beat estimates in the quarter, with the company reporting EPS of $5.28, well above consensus expectations of $4.52 and nearly double the $2.88 EPS figure it reported in the year-ago period. Netflix guided to second quarter EPS of $4.68, ahead of consensus calls for $4.54.

Profitability metrics also came in strong, with operating margins sitting at 28.1% for the first quarter compared to 21% in the same period last year.

The company previously guided to full-year 2024 operating margins of 24% after the metric grew to 21% from 18% in 2023. Netflix expects margins to tick down slightly in Q2 to 26.6%.

Free cash flow came in at $2.14 billion in the quarter, above consensus calls of $1.9 billion.

Meanwhile, ARM ticked up 1% year over year — matching the fourth quarter results. Wall Street analysts expect ARM to pick up later this year as both the ad-tier impact and price hike effects take hold.

On the ads front, ad-tier memberships increased 65% quarter over quarter after rising nearly 70% sequentially in Q3 2023 and Q4 2023. The ads plan now accounts for over 40% of all Netflix sign-ups in the markets it’s offered in.

FILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File PhotoFILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo

Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo (REUTERS / Reuters)

Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.

For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here

Read the latest financial and business news from Yahoo Finance

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Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack – OilPrice.com

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Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack | OilPrice.com



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Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

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  • Oil prices initially spiked on Friday due to unconfirmed reports of an Israeli missile strike on Iran.
  • Prices briefly reached above $90 per barrel before falling back as Iran denied the attack.
  • Iranian media reported activating their air defense systems, not an Israeli strike.

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Oil prices gave up nearly all of early Friday’s gains after an Iranian official told Reuters that there hadn’t been a missile attack against Iran.

Oil surged by as much as $3 per barrel in Asian trade early on Friday after a U.S. official told ABC News today that Israel launched missile strikes against Iran in the early morning hours today. After briefly spiking to above $90 per barrel early on Friday in Asian trade, Brent fell back to $87.10 per barrel in the morning in Europe.

The news was later confirmed by Iranian media, which said the country’s air defense system took down three drones over the city of Isfahan, according to Al Jazeera. Flights to three cities including Tehran and Isfahan were suspended, Iranian media also reported.

Israel’s retaliation for Iran’s missile strikes last week was seen by most as a guarantee of escalation of the Middle East conflict since Iran had warned Tel Aviv that if it retaliates, so will Tehran in its turn and that retaliation would be on a greater scale than the missile strikes from last week. These developments were naturally seen as strongly bullish for oil prices.

However, hours after unconfirmed reports of an Israeli attack first emerged, Reuters quoted an Iranian official as saying that there was no missile strike carried out against Iran. The explosions that were heard in the large Iranian city of Isfahan were the result of the activation of the air defense systems of Iran, the official told Reuters.

Overall, Iran appears to downplay the event, with most official comments and news reports not mentioning Israel, Reuters notes.

The International Atomic Energy Agency (IAEA) said that “there is no damage to Iran’s nuclear sites,” confirming Iranian reports on the matter.

The Isfahan province is home to Iran’s nuclear site for uranium enrichment.

“Brent briefly soared back above $90 before reversing lower after Iranian media downplayed a retaliatory strike by Israel,” Saxo Bank said in a Friday note.

The $5 a barrel trading range in oil prices over the past week has been driven by traders attempting to “quantify the level of risk premium needed to reflect heightened tensions but with no impact on supply,” the bank said, adding “Expect prices to bid ahead of the weekend.”

At the time of writing Brent was trading at $87.34 and WTI at $83.14.

By Tsvetana Paraskova for Oilprice.com

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