Opendoor says Christy Schwartz to serve as interim CFO as Selim Freiha exits

In a filing published Friday morning, Opendoor Technologies said that CFO Selim Freiha would be leaving the company effective today, with Christy Schwartz stepping in to serve as interim CFO, effective September 30, 2025.

Schwartz had previously been the company’s chief accounting officer, and also had a prior stint as interim CFO. She’ll be in this role until May 15, 2026, or 30 days after the online real estate company selects a candidate to fill the position permanently.

Management changes have been a key catalyst for Opendoor, with shares jumping after former CEO Carrie Wheeler resigned before proceeding to get a massive boost from the addition of cofounders Keith Rabois and Eric Wu to the board of directors, with former Shopify COO Kaz Nejatian tapped to serve as CEO.

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Scott Findlay (R) and the author, pictured at the Independent Investor Summit in New York City on September 12, 2025.

Open says me

Luke Kawa5h

Nia Warfield, Luke Kawa

Bulls on parade

19h

Three major US stock indexes post record closing highs on the same day for the first time since November 2021

Tech was far and away the best-performing S&P 500 sector ETF, while consumer staples was at the bottom of the leaderboard.

Nvidia Intel deal implications, according to Wall Street analysts

Wall Street analysts think through the Nvidia-Intel deal

TL;DR: Huge for Intel, helpful for Nvidia, and potentially bad for AMD.

Matt Phillips22h

Nia Warfield

23h

Abercrombie & Fitch gets a lift after BTIG kicks off coverage with a “buy” rating

Abercrombie & Fitch popped over 3% Thursday afternoon after BTIG initiated coverage on the stock with a “buy” rating and set a $120 price target. That’s more than 35% above current trading levels.

“While we acknowledge headwinds from a selective consumer and tough comparisons, we have confidence in A&F’s ability to return to growth as AUR [average unit retail] headwinds abate at Abercrombie, a factor well within the company’s control, while traffic and brand health remain strong,” the firm wrote in the note.

BTIG also highlighted the retailer’s California-based Hollister brand, where growth is continuing to ramp up, and that cleaner inventory management is helping the retailer avoid big markdowns. Analysts also noted that Abercrombie still trades at a discount to its peers, making the upside more compelling.

The call comes on the heels of Abercrombie’s stronger-than-expected Q2 results last month, which featured record quarterly sales and marked its 11th straight quarter of growth.

A&F shares are down 41% year to date.

Matt Phillips

9/18/25

Analyst spotlights oil refiners’ outperformance

Major US oil refiners like Valero, Marathon Petroleum, and Phillips 66 are outperforming more than 90% of the S&P 500 this year, as a surge in global supply from OPEC+ — essentially a price-setting alliance between OPEC and Russia — has put refiners in the catbird seat when it comes to price negotiations with producers.

“We continue to assess that refiners will set the price of crude and refiners will win in a wide range of scenarios for crude, making refiners the best vehicle for long petroleum exposure,” wrote Colin Fenton, head of commodities research at 22V Research.

Crack spreads, a measure of profit margins at refiners, have risen nearly 50% so far this year.

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