business

Max Knoblauch3/10/25

While no one’s buying homes, Rocket’s buying Redfin

Mortgage biggie Rocket Cos said Monday that it’ll buy real estate listing platform Redfin for $1.75 billion in an all-stock deal.

Redfin shares surged more than 75% in early trading, while Rocket shares fell more than 10%. The companies expect the deal to close in the second or third quarter this year.

“We want a customer to be able to check her phone to find out what she can afford, see which homes are just right for her, schedule a tour with a local, expert Redfin agent, and get pre-qualified for a loan, all in a matter of minutes,” wrote Redfin CEO Glenn Kelman in a statement about the deal.

Kelman is expected to continue leading Redfin following the deal.

While housing giants look to consolidate, housing remains bleak. Existing US home sales last year fell to 4.06 million, a near 30-year low, continuing their anemic run. The median sales price of US homes rose to $419,200 in Q4.

Elevated borrowing costs continue to weigh on the outlook for real estate activity. Though 30-year mortgage rates are down about 40 basis points off their highs of the year to 6.6%, that’s still well above the 4% rate on US mortgage debt outstanding as of the end of 2024.

Rocket Companies to acquire Redfin for $1.75B | TechCrunch

Rocket Companies to acquire Redfin for $1.75B | TechCrunch

“We want a customer to be able to check her phone to find out what she can afford, see which homes are just right for her, schedule a tour with a local, expert Redfin agent, and get pre-qualified for a loan, all in a matter of minutes,” wrote Redfin CEO Glenn Kelman in a statement about the deal.

Kelman is expected to continue leading Redfin following the deal.

While housing giants look to consolidate, housing remains bleak. Existing US home sales last year fell to 4.06 million, a near 30-year low, continuing their anemic run. The median sales price of US homes rose to $419,200 in Q4.

Elevated borrowing costs continue to weigh on the outlook for real estate activity. Though 30-year mortgage rates are down about 40 basis points off their highs of the year to 6.6%, that’s still well above the 4% rate on US mortgage debt outstanding as of the end of 2024.

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J. Edward Moreno

Most health insurers beat estimates in Q3, but investors have mixed feelings

While generally in line with expectations, medical costs still haven't come down.

Various Pills on Checkerboard

business

eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

EBay Falls After Giving Weak Profit Outlook for Holiday Period

eBay Bloomberg 10/30

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

A screenshot from Hims & Hers' website. (Sherwood News)

Hims to begin selling GLP-1 microdosing treatments

The company reports earnings results next Monday.

J. Edward Moreno10/29/25

J. Edward Moreno

Eli Lilly strikes deal with Walmart to distribute cash-pay Zepbound vials

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Walmart Retail Location. Walmart introduced its Veterans Welcome Home Commitment and plans on hiring 265,000 veterans.

Max Knoblauch10/24/25

Premium seats help push airlines higher following third-quarter results

Shares of American Airlines are climbing toward the carrier’s best trading day since August 12, when ultra-budget rival Spirit issued its initial warning about its ability to survive. American’s shares are up more than 7% on Friday afternoon.

Investors’ optimism comes a day after American posted a better-than-expected full-year earnings forecast. In a call with investors, American said that it’s ramping up its premium cabin offerings.

“Our ability to grow capacity in premium markets will be further supported as we take delivery of new aircraft and reconfigure our existing fleet. These efforts will allow us to grow our premium seats at nearly two times the rate of main cabin seats,” CEO Robert Isom said. American CFO Devin May said that nose-to-tail retrofits of certain wide-body jets will bump the number of premium seats available on those planes by 25%.

Extra legroom has been a boon for major carriers, particularly this quarter. Delta Air Lines said its premium product revenue grew 9% in Q3, compared to a 4% drop in economy seat revenue. Similarly, United Airlines said its premium revenue grew 6%, outpacing economy. Shares of both airlines were up more than 3% on Friday.

Carriers with less exposure to first- and business-class tickets like Southwest Airlines and JetBlue didn’t see the same amount of momentum on the day.

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