markets

7/18/25

Opendoor shares up big again after call volumes set records for three straight sessions

The surge in online real estate company Opendoor Technologies, which has already doubled this week, is a flows story: traders are looking to get in on the ground floor of a potential turnaround.

There is not a fundamental catalyst pushing shares higher. Instead, there is a belief in the potential for a series of fundamental catalysts, a hope that all the negatives had been more than priced in when it traded below $1, and/or just the thought that others will keep piling in that’s inspiring a heck of a lot of retail zest for the stock.

That flows story in the options market has been monumental for the stock relative to its history. The stock has set records for daily call volumes traded in back-to-back-to-back sessions. More call options have traded in the first four days of this week (1.7 million) than the six months before that (1.4 million).

And the enthusiasm for the underlying stock looks to be continuing: it’s up more than 12% in premarket trading, and is in the top 50 for value traded among all US stocks ahead of the open, ahead of much, much larger companies like Exxon Mobil, Oracle, Berkshire Hathaway, Costco, and Pepsi.

Even if the stock goes nowhere on Friday, it would still be far and away its best week ever, and it’s not particularly close.

Read more: Hedge fund manager Eric Jackson, architect of the eye-popping rally in Opendoor, on why he thinks the online real estate company is the “next Carvana”

The stock is still more than 95% off its closing peak. But it’s also clearly in the market — and public — consciousness in a way it’s never been before.

More Markets

See all Markets

Nia Warfield, Luke Kawa

S&P 500 posts fresh closing high as cyclicals shine

The first record close of the month for the benchmark US stock index.

Bull horns

markets

13h

Lululemon sinks after slashing full-year guidance as tariffs, sales weigh on margins

Lululemon shares sank 13% in after-hours trading Thursday after the yoga-wear retailer massively slashed its full-year outlook.

Adjusted earnings per share came in at $3.10 for the second quarter, versus Wall Street’s forecast of $2.86. Revenue landed at $2.5 billion, compared with analyst estimates of $2.54 billion.

The real problem: Lululemon heavily cut its full-year guidance, and is now projecting earnings of $12.77 to $12.97 per share, a steep drop from its prior forecast of $14.58 to $14.78, and well shy of Wall Street’s $14.40 estimate.

The retailer faced more margin pressure during the quarter, citing higher markdowns, tariffs, and other costs, though some of that was partially offset by higher pricing and lower product costs.

Lulu shares were down 45% year-to-date before the report.

markets

13h

Broadcom rallies after CEO says 2026 AI revenue outlook will “improve significantly” as the chip designer adds a new major customer

Broadcom is booming. The chip designer posted a small top and bottom line beat in its fiscal Q3, and the details and its guidance are even more encouraging.

Revenues: $15.95 billion (estimate $15.84 billion)

Adjusted diluted earnings per share: $1.69 (estimate $1.67)

Shares initially whipsawed in reaction to these numbers, but then rallied strongly after CEO Hock Tan said the outlook was for AI revenues to improve “significantly” in fiscal 2026 during the conference call with analysts thanks to the addition of a new big buyer.

“Last quarter, one of these prospects released production orders to Broadcom, and we have accordingly characterized them as a qualified customer for XPUs, and in fact, have secured over $10 billion of orders,” he said. “And reflecting this, we now expect the outlook for fiscal 2026 AI revenue to improve significantly from what we had indicated last quarter.”

Unlike Nvidia, whose data center business came in slightly shy of estimates in its most recent quarter, Broadcom’s AI sales managed to come in ahead of expectations, with $5.2 billion in revenues versus the anticipated $5.1 billion.

For the current quarter, management expects sales of $17.4 billion and adjusted EBITDA of approximately $11.67 billion. That compares to the Street’s view of $17.05 billion and adjusted EBITDA of $11.3 billion.

And again, its AI business is besting the sell side’s view, with an outlook for $6.2 billion in AI semiconductor revenues versus an expected $5.84 billion.

Shares were up more than 30% year to date heading into this report, slightly trailing Advanced Micro Devices but ahead of industry leader Nvidia.

Salesforce’s slump shows the market still thinks AI is coming for software. But what if it doesn’t?

There wasn’t much proof of disruption in Salesforce’s numbers. Meanwhile, it’s trading around its lowest price-to-earnings ratio ever.

Salesforce slump shows why the AI software trade remains interesting

markets

14h

Rivian lays off workers as it readies its cheaper SUV and braces for the end of the EV tax credit

With the $7,500 federal EV tax credit set to end on September 30 and a new, lower cost electric SUV due to launch next year, Rivian is on the hunt to cut costs.

That means layoffs.

The EV maker confirmed it’s laying off workers on its commercial team, with the cuts amounting to less than 1.5% of its workforce, according to Wall Street Journal reporting. The company had about 14,900 employees at the end of December.

Rivian lost $1.12 billion in its second quarter and downwardly revised its full-year loss forecast to between $2 billion and $2.25 billion. Its shares are up about 2% year to date.

It’s been a similarly bumpy trading day for Rivian rival Lucid, which continues to post fresh all-time lows on investor distaste for its 1-for-10 reverse stock split that took effect on Tuesday.

Exclusive | EV Maker Rivian Lays Off Workers as It Preps Launch of Cheaper SUV

Exclusive | EV Maker Rivian Lays Off Workers as It Preps Launch of Cheaper SUV

The EV maker confirmed it’s laying off workers on its commercial team, with the cuts amounting to less than 1.5% of its workforce, according to Wall Street Journal reporting. The company had about 14,900 employees at the end of December.

Rivian lost $1.12 billion in its second quarter and downwardly revised its full-year loss forecast to between $2 billion and $2.25 billion. Its shares are up about 2% year to date.

It’s been a similarly bumpy trading day for Rivian rival Lucid, which continues to post fresh all-time lows on investor distaste for its 1-for-10 reverse stock split that took effect on Tuesday.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2025 Sherwood Media, LLC