business

Claire Yubin Oh7/30/25

SoFi tumbles after announcing $1.5 billion stock offering

SoFi Technologies slid 8% in premarket trading on Wednesday after it announced plans to sell $1.5 billion of stock.

The company is reportedly planning to offer its shares for $20.85 to $21.50 apiece, per Bloomberg, which would be a discount of up to 6.9% from Tuesday’s closing price of $22.40.

From the press release:

“In connection with the offering, SoFi expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the offering. All of the shares of common stock in the offering will be sold by SoFi. SoFi intends to use the net proceeds from the offering for general corporate purposes, including working capital and other business opportunities.”

The news means that SoFi shares are giving up their gains from Tuesday, when the company posted better-than-expected second-quarter earnings and hiked its full-year guidance for revenue.

SoFi Technologies, Inc. Announces Public Offering of Common Stock

From the press release:

“In connection with the offering, SoFi expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the offering. All of the shares of common stock in the offering will be sold by SoFi. SoFi intends to use the net proceeds from the offering for general corporate purposes, including working capital and other business opportunities.”

The news means that SoFi shares are giving up their gains from Tuesday, when the company posted better-than-expected second-quarter earnings and hiked its full-year guidance for revenue.

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Chris Stokel-Walker4h

business

Max Knoblauch5h

Ford joins GM in backing off of its EV tax credit extension plan following GOP criticism

Ford, despite benefiting from an electric sales surge in recent months, is giving up on a clever accounting plan to extend the expired $7,500 EV tax credit to some of its customers.

Like its rival GM earlier this week, Ford on Thursday night confirmed to Reuters that it will not claim the tax credit, backing off from its short-lived leasing strategy.

The automakers’ plan was to extend the subsidy by using their financial arms to put down payments on electric vehicles already on their dealers’ lots in late September. Those transactions would qualify for the credit, and Ford and GM could pass the discount on to customers through leases.

But the strategy angered GOP senators, who last week wrote a letter to Treasury Secretary Scott Bessent accusing the automakers of “bilking” taxpayers.

Ford CEO Jim Farley last month said he expects the end of the tax credit to cut EV sales in half.

Exclusive: Ford reverses plan to claim EV tax credits, following GM

Exclusive: Ford reverses plan to claim EV tax credits, following GM

The automakers’ plan was to extend the subsidy by using their financial arms to put down payments on electric vehicles already on their dealers’ lots in late September. Those transactions would qualify for the credit, and Ford and GM could pass the discount on to customers through leases.

But the strategy angered GOP senators, who last week wrote a letter to Treasury Secretary Scott Bessent accusing the automakers of “bilking” taxpayers.

Ford CEO Jim Farley last month said he expects the end of the tax credit to cut EV sales in half.

Porsche’s problems in China just keep getting worse

Sales in the region fell by more than a fifth in Q3.

Vintage Paint-Chipped Silver Porsche Speedster

Delta, boosted by premium ticket sales, says customers who go Comfort+ don’t go back

Delta’s third-quarter revenue beat Wall Street estimates on Thursday, led by 9% growth in its premium ticket category.

Delta Airlines empty plane interior

business

Tom Jones10/9/25

Domino’s just announced its first rebrand in 13 years — maybe a new, “doughier” font will help sales pick up

Shaboozey! Domino’s Sans! Hotter colors as a nod to the melty heat of a pizza pulled fresh from the oven!

In a buzzword-laden justification of its rebrand yesterday, Domino’s laid plain its new aesthetic direction, coined the term “Cravemark,” and announced it would be bringing the focus back to its food, having (at least in its executive vice president’s words) become known as “a technology company that happens to sell pizza” over the last decade.

It can’t go any worse than Cracker Barrel’s refresh efforts, at least...

The raft of changes, which will roll out across the US and other international markets in the coming months, includes a new “audio and visual expression” of the brand’s name (throwing a few extra M’s on the boxes and getting country/hip-hop artist Shaboozey to elongate the letter in a jingle); brighter packaging and hotter colors; “more youthful” team uniforms (company-color Salomons and an apron with “pizza is brat” on it, maybe?); and a new “Domino’s Sans” font, which is “thicker and doughier” and has circles and semicircles “in nod to pizza, with lots of personality baked right in!”

Domino’s is down about 2% so far this year.

Domino's® New Craveable Brand Refresh Makes You Say "Mmm" | Domino's Pizza

The raft of changes, which will roll out across the US and other international markets in the coming months, includes a new “audio and visual expression” of the brand’s name (throwing a few extra M’s on the boxes and getting country/hip-hop artist Shaboozey to elongate the letter in a jingle); brighter packaging and hotter colors; “more youthful” team uniforms (company-color Salomons and an apron with “pizza is brat” on it, maybe?); and a new “Domino’s Sans” font, which is “thicker and doughier” and has circles and semicircles “in nod to pizza, with lots of personality baked right in!”

Domino’s is down about 2% so far this year.

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