Rocket Companies Stock News

Here is a look at what to expect when two of these companies report quarterly results late Thursday and the other reports before Friday''s opening bell.

Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates.

More than 100 companies reported quarterly results on Tuesday, and there are nearly 600 more reports due out this week.

Shares of Rocket Companies Inc. sank 7.3% toward a record low in midday trading Tuesday, after BofA Securities turned bearish on the mortgage financing company, citing concerns over the impact of a rising rate environment. Analyst Mihir Bhatia downgraded the stock to underperform from neutral and slashed the price target to $11 from $21. Bhatia said that while the company''s "best-in-class" technology platform and strong retail franchise offers better margin protection than its peers, near-term results are likely to be hurt by the "hostile" market backdrop. Bhatia said refinancing of mortgages comprised 85% of origination volume during the first nine months of 2021, "and are likely headed meaningfully lower as higher rates dampen volumes." The yield on the 10-year Treasury note , which influences mortgage rates and refinancings, was at 1.941% in midday trading, up from 1.529% at the end of September. "Competition and mix-shift (towards partner) could impact margins in 2022 and we expect [Rocket] to continue to invest in marketing, technology and non-mortgage businesses, which could lead to higher-than-expected [operating expenditure] spending.

Rocket Companies' (RKT) fourth-quarter 2021 earnings and revenues are expected to have declined year over year.

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Tuesday afternoon''s top analyst upgrades and downgrades included Autodesk, DraftKings, Foot Locker, General Electric, Goodyear Tire, Okta, Rocket Companies, Splunk, Sysco, Tuya and Zscaler.

Investors are expecting interest rates to start rising sharply in coming months, and one analyst said Tuesday that rising rates are bad news for Rocket Companies Inc (NYSE: RKT). The Analyst: Bank of

Investors are expecting interest rates to start rising sharply in coming months, and one analyst said Tuesday that rising rates are bad news for Rocket Companies Inc (NYSE: Full story available on Benzinga.com

Rocket Companies' (RKT) fourth-quarter 2021 earnings and revenues are expected to have declined year over year.

Shares of Rocket Companies Inc. RKT, -7.33% sank 7.3% toward a record low in midday trading Tuesday, after BofA Securities turned bearish on the mortgage financing company, citing concerns over the im

Investors are expecting interest rates to start rising sharply in coming months, and one analyst said Tuesday that rising rates are bad news for Rocket Companies Inc (NYSE: RKT). The Analyst: Bank of

London stocks were under pressure on Monday, as investors got whipsawed by updates on the Ukraine-Russia crisis. Syanirgen and Morses were big movers to the downside.

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In the latest trading session, Rocket Companies (RKT) closed at $12.81, marking a -1.84% move from the previous day.