Markets
markets
Kelly Cloonan

Zillow slumps as high mortgage rates weigh on outlook for home sales

Zillow eclipsed analyst estimates in its most recent quarter, but a weak near-term outlook pushed shares down 6% in after-hours trading.

The real estate listings site reported fourth quarter revenue of $554 million after market close on Tuesday, marking a 17% year-over-year rise and topping estimates of $546 million according to analysts polled by Bloomberg.

Zillow also narrowed its quarterly loss to $52 million, down from $73 million the year prior. The site has historically struggled to turn a profit since going public, but expects that to change this year. The firm suffered an especially big loss when its home-flipping side hustle went south back in 2021, costing the company hundreds of millions of dollars and sending its stock cratering from all-time highs.

The stock has been in recovery mode in the last year, though, up 56% to reach levels last seen during the post-pandemic housing market boom, partially helped by strong enthusiasm for its growing rental business. The company seems keen to continue that growth, announcing a new partnership with Redfin to list its multifamily rental listings on the site starting in the spring. The agreement, announced alongside earnings on Tuesday, sent Redfin’s stock up 4% in after-hours trading.

But even so, home resales have remained near historical lows amid elevated mortgage rates — pressuring Zillow’s core business — with seemingly no quick recovery in sight. The company forecasted revenue between $575 million and $590 million for the first quarter, below analyst estimates of $600 million.

For the year, the company said it expects low to mid-teens revenue growth, in line with analyst estimates.

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Opendoor surges on bullish options bets as traders look to potential real estate tokenization

Opendoor Technologies is surging on Friday amid bullish options bets and social media posts referencing unconfirmed rumors about the company.

The stock moved higher in the premarket session after the soft inflation report boosted stocks and briefly pushed long-term bond yields lower (positive for a real estate company). But the real gains came after the opening bell rang and options demand picked up.

As of 12:11 p.m. ET, roughly 664,000 call options have changed hands versus a 10-day average of about 364,000 for a full session.

What seems to be galvanizing members of the “$OPEN Army” is the potential for the company to pursue the tokenization of real-world assets, with Robinhood often bandied about as a potential partner in this endeavor.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)

Opendoor bulls have often pointed to signs that Robinhood CEO Vlad Tenev appears to be fond of the company, from what appeared on-screen during a demo of a social trading feature at HOOD’s conference in Las Vegas in September to offering support to Opendoor CEO Kaz Nejatian in setting up an opportunity for retail shareholders to ask questions during the online real estate company’s next earnings call.

Opendoor is currently in a quiet period ahead of earnings, which restricts what type of announcements a company can make.

The call options seeing the most demand expire this Friday with strike prices of $8, $8.50, and $9.

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Luke Kawa

Beyond Meat gains amid slightly better-than-expected Q3 sales, positive commentary on legal issues

Shares of Beyond Meat built on their premarket gains after the plant-based meat seller reported preliminary Q3 sales a bit ahead of Wall Street’s expectations, before paring this advance after the market opened.

For the three months ended September 27, management said net revenue would be approximately $70 million. That’s in line with their guidance range of $68 million to $73 million, but Wall Street was expecting sales to skew toward the lower end of that range, at $68.7 million.

However, its anticipated gross margin of 10% to 11% is lower than analysts had been expecting (13.8%). That’s still the case even adjusting for expenses related to its downsizing of operations in China, which would have left margins around 12% to 13%, per Beyond.

Perhaps more importantly, the company provided positive commentary regarding arbitration discussions with a former co-manufacturer that appear to bring it closer to a resolution while limiting potential damages:

“As previously disclosed, in March 2024, a former co-manufacturer brought an action against the Company in a confidential arbitration proceeding claiming that the Company inappropriately terminated its agreement with the co-manufacturer and claimed damages of at least $73.0 million. On September 15, 2025, the arbitrator issued an interim award (the ‘Interim Award’) and found that the Company had a valid basis to terminate the agreement with the Manufacturer. The details of the Interim Award are confidential, and a final arbitration award has not been issued. Additional proceedings will be held to determine the award of attorneys’ fees, prejudgment interest and costs, if any, before a final arbitration award will be issued. On September 25, 2025, the Manufacturer filed a request with the arbitrator to re-open the arbitration hearing. On September 29, 2025, the Company opposed this request. On October 20, 2025, the arbitrator denied the Manufacturer’s request.”

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