Articles by Daniel Marsh
Mortgage Rates Surge to 6.38%, Highest Since September, Pressuring Housing Stocks
The average 30-year fixed mortgage rate jumped to 6.38% this week, reaching its highest level since early September. The increase, driven by rising Treasury yields and surging oil prices, contributed to a 10.5% weekly drop in mortgage applications.
SoFi Shares Slide Amid Short-Seller Allegations and Analyst Defense
SoFi Technologies shares declined 3.7% to $15.94 amid ongoing pressure from short-seller allegations about undisclosed debt. The company has denied the claims while CEO Anthony Noto purchased shares and Mizuho maintained its bullish outlook.
Grab Announces $400M Buyback Following Taiwan Expansion Deal
Grab Holdings saw its stock rise after unveiling a $400 million share buyback program, funded from its substantial cash reserves. This follows the company's recent $600 million deal to acquire Delivery Hero's foodpanda business in Taiwan.
Equitable and Corebridge to Merge in $22 Billion Deal, Forging Retirement Titan
Equitable Holdings and Corebridge Financial have agreed to combine in an all-stock transaction valued at approximately $22 billion. The merged entity will manage over $1.5 trillion in assets and serve more than 12 million customers.
Nu Holdings Shares Dip on Insider Sale Amid Growth and Margin Scrutiny
Nu Holdings shares declined 1.1% after a regulatory filing revealed Chief Growth Officer Cristina Junqueira sold approximately $4.44 million in stock. The move comes as the market evaluates the company's robust quarterly performance against increasing expenses and competitive pressures.
American Airlines Faces $400M Fuel Cost Hit as Oil Surge Rekindles Airline Sector Concerns
American Airlines shares held near $10.74 premarket as Brent crude surpassed $106, threatening a $400 million first-quarter fuel cost increase. The carrier maintains revenue growth expectations above 10% despite mounting pressure.
Clear Secure Stock Nears 52-Week Peak Amid Airport Chaos-Driven App Surge
Clear Secure shares are trading near a 52-week high, buoyed by a surge in app usage as airport security wait times exceed four hours. The company reported strong Q4 revenue growth of 16.7% to $240.8 million.