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Mortgage Rates Remain Elevated, Dampening Spring Housing Market Activity
U.S. mortgage rates remain in the mid-6% range, with the 30-year fixed at 6.53%, stifling spring home sales. Applications dropped 8.5% and new home sales fell 6.2% in April.
SoFi Rises on Stablecoin Launch; Wall Street Eyes Credit Risks
SoFi Technologies shares rose 1.9% on Monday after launching its SoFiUSD stablecoin, though BTIG warned of rising loan-loss trends in the lending business.
Rivian R2 Deliveries Begin, Stock Rises as Market Eyes June 9
Rivian stock rose 3.9% to $16.95 as investors anticipate the first R2 SUV deliveries on June 9. The company faces profitability challenges and a regulatory probe.
Starfighters Space Soars Amid Sector Decline; Capital Infusion Fuels Rally
Starfighters Space shares jumped 29% on a $17.5 million equity deal, even as the company faces no revenue, a $26 million lawsuit, and going-concern doubts.
AMC Surges 22% on Record May Attendance, But Debt Overhang Persists
AMC shares surged 22% to $2.12 as May crowds returned to pre-pandemic levels, with 25.5 million attendees. However, the company's $4.02 billion debt and cash burn raise sustainability questions.
Strategy Inc. Sells Bitcoin for First Time Since 2022 to Fund Dividends
Strategy Inc. sold 32 bitcoin for $2.5 million to fund preferred dividends, its first sale since 2022. Shares fell 5.9% as the market eyes the shift from pure accumulation.
Gasoline Dips on Crude Retreat, But Geopolitical Risks Persist
U.S. gas prices fell to $4.322/gal, down from $4.507 last week, as crude pulled back. However, oil surged 4.2% Monday after Iran halted indirect U.S. talks and new blockade fears emerged. Gasoline stocks declined for a record-tying 15th week.
Credo Technology Stock Tumbles Despite Strong Earnings as Margin Concerns Weigh
Credo Technology shares fell over 10% after hours despite beating profit and revenue targets, as margin compression and high expectations triggered selling.
NuScale Shares Rise on Nuclear Sector Optimism Amid Regulatory Advances
NuScale Power shares rose 3.6% to $13.13 on Monday, outperforming small-cap peers as the nuclear sector gained momentum from U.S. regulatory reforms for small modular reactors.
Opendoor Shares Rally on Russell 3000 Inclusion Anticipation
Opendoor shares jumped 6% on heavy volume as investors positioned for its Russell 3000 inclusion. Q1 revenue fell to $720 million, but gross margin improved and Q2 guidance suggests a 25% revenue increase.
Constellation Energy Hits 6.6% Slump After $3.1B Secondary Offering
Constellation Energy shares dropped 6.6% after a $3.09 billion secondary offering by existing holders, with no proceeds to the company. The sale adds pressure amid potential delays in the Crane nuclear plant restart, key to AI data-center deals.