ROCKET COMP. CL.A -,00001

ValueAct increased its position in Rocket Companies by nearly 48% to 41.67 million shares, a stake worth about $656.3 million at quarter-end. Rocket is broadening beyond Rocket Mortgage through acquisitions of Redfin and Mr. Cooper, operating across brokerage, origination, servicing, title, and consumer finance. About 70% of Rocket's revenue is recurring or less rate-sensitive, but the company remains exposed to high mortgage rates and weak housing demand as 30-year fixed rates near 7%. » More on finance.yahoo.com

Rocket Companies reported its most profitable quarter in four years with $2.76 billion in adjusted revenue, a 28% adjusted EBITDA margin, purchase market share of 6.2% and refinance share of 14.3%. Jim Cramer declined to forecast a return to near $30, citing past forecasting errors and the company’s exposure to housing-cycle and interest-rate volatility. Hedge fund ownership ticked down modestly while short interest remains around 5.4%, underscoring lingering valuation and macro risks despite operational gains. » More on finance.yahoo.com

Rocket Companies reported Q2 adjusted revenue of $2.8 billion, adjusted EBITDA of $766 million (28% margin) and adjusted diluted EPS of $0.16, its most profitable quarter in four years. Purchase market share rose to 6.2% and refinance share to 14.3%, driven by Redfin lead growth, servicing recapture and integration synergies from Mr. Cooper. The company generated $49 billion in closed loan volume, ended the quarter with $11.2 billion of liquidity and raised its expected annualized expense synergies. For Q3 Rocket expects adjusted revenue of $2.5–$2.7 billion while continuing to expand market share and reduce expenses sequentially. » More on finance.yahoo.com