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Old 09-02-2020, 05:36 PM
  #9586  
bmpfish
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Originally Posted by king_me View Post
I'll never understand stock price movement when earnings report come out. What am I missing from this published report? Sounds positive!

Sept 2 (Reuters) - Rocket Companies Inc, the parent of mortgage lender Quicken Loans, on Wednesday reported a profit for the second quarter, compared to a year-ago loss, in its first results as a public company.

The company's net income was $3.5 billion in the three months ended June 30, compared to a loss of $54 million a year earlier. (Reporting by Niket Nishant and Neha Malara in Bengaluru; Editing by Sriraj Kalluvila)
im in it long but I think youll see it bounce back big tomorrow, the problem was the numbers were expected but lacked guidance. I was hoping they had some great future looking statements but not so much. CEO said basically they expect next quarter to see revenue fall as that is cyclical every year. if they beat big next quarter which I think is possible as housing is red hot as people continue to move out of cities, it will ride up.....if you have the patience..