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Hertz Slumps 28% on Weak Q2 Outlook, Used-Car Losses
Hertz shares plunged nearly 28% after warning Q2 core profit will hit low end of guidance due to used-car sale losses, with vehicle depreciation rising to ~$300/unit/month.
Rocket Companies Soars on Mortgage Demand Uptick; Redfin Data Shows Home Price Stability
Rocket Companies (RKT) jumped 13.5% after mortgage applications rose 1% and refinancing demand increased 3%. Redfin data showed home prices edged up 0.3% in May, but a 7.3% drop in new-home sales highlights ongoing housing risks.
Ondas Stock Dips Despite $40M Defense Orders and Lockheed Counter-Drone Deal
Ondas shares dropped 6.7% despite over $40M in defense orders and a Lockheed counter-drone deal, as selling stockholders may offload 3.1M shares.
Uber Stock Surges 7% on Eats Retail Expansion, Robotaxi Deals
Uber shares surged 7.2% after adding retailers like Kiehl's and FedEx Office to Uber Eats, while investors weigh delivery growth against robotaxi risks. Wall Street consensus target is $108.35.
Social Security Faces Funding Gap by 2032; June Payment Schedule Finalized
Social Security's final June payment arrives June 24. Trustees project full benefits only through Q4 2032, with a 78% payout thereafter. July payments shift due to Independence Day.
Gold Dips Below $4,000 as Dollar Strengthens and Fed Hawkishness Weighs
Gold slipped under $4,000 an ounce for the first time in seven months as the dollar strengthened and traders increased bets on further Fed rate hikes, sparking a broad precious metals selloff.
XRP Slips Below $1.10 as ETF Net Assets Trail Inflows by $459M
XRP fell 2.4% to $1.07, with U.S. spot ETF net assets $459 million below total inflows, as ETF buying failed to offset broader market selling.
Strategy Inc Shares Tumble as Bitcoin Buying Strategy Faces Investor Backlash
Strategy Inc shares plunged 5.2% to $98.45 after selling $335.5 million in stock to buy 520 bitcoin, raising concerns as dollar reserves dropped 38% and dividend coverage shrank.
Bitcoin Slides as BlackRock ETF Outflows Weigh on Market Sentiment
Bitcoin dropped 2.3% to $60,843 as BlackRock's IBIT ETF saw $354M in outflows, while other U.S. spot bitcoin ETFs posted net inflows. Options skew suggests traders are paying up for downside protection.
Dow Jones Rises on Home Depot and 3M Gains; Alphabet to Replace Verizon in Index
The Dow Jones Industrial Average gained 302 points on Wednesday, driven by strong performances from Home Depot and 3M. Alphabet shares rose after being selected to replace Verizon in the Dow index.
Wall Street Edges Higher Ahead of Micron Earnings and Key Inflation Data
US stocks opened higher on Wednesday, with the S&P 500, Nasdaq, and Dow all in positive territory, as investors focused on Micron Technology's earnings due after the bell and ahead of key inflation data.
Sunrun Surges on Tesla, Renew Home Virtual Power Plant Framework
Sunrun shares soared 29.3% after announcing a framework with Tesla and Renew Home to pool home batteries and smart devices into over 16 GW of flexible capacity for data centers and utilities.