Rocket Companies (RKT) Stock

Seven Corners Capital, an investment management firm, has published its investor letter for the third quarter of 2024, which you can download here. Their composite portfolio grew by about 14% in Q3 2024, while the S&P 500 saw a rise of around 21%. This shows a 7% underperformance in the first half of the year.

Bill Emerson, Rocket Companies president, joins 'Squawk Box' to discuss the company's lawsuit against the Department of Housing and Urban Department, why the company filed a motion to be dismissed from a DOJ racial discrimination lawsuit, state of the mortgage market, and more.

The company also filed a motion to dismiss the claim the Department of Justice brought against the company DOJ's recent claim against Rocket Mortgage misplaced blame on the Company for work done by an independent appraiser hired by an independent appraisal management company DETROIT , Dec. 5, 2024 /PRNewswire/ -- Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), filed suit in Federal District Court against the United States Department of Housing and Urban Development (HUD) to correct conflicts between the government's regulations requiring appraiser independence and its enforcement actions seeking to hold lenders liable for the conduct of independent licensed appraisers. Rocket Mortgage also filed a motion to dismiss the claim the DOJ brought against the company based on the same regulatory conflicts and misapplication of applicable law.

DETROIT , Nov. 27, 2024 /PRNewswire/ -- Rocket Companies (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that Chief Financial Officer and Treasurer Brian Brown will participate in a fireside chat at the 2024 Goldman Sachs U.S. Financial Services Conference on Tuesday, December 10, at 1:40 p.m. ET. A live webcast of the event will be available on the "Events & Presentations" section of the Company's Investor Relations website at ir.rocketcompanies.com.

Rocket Companies (RKT) shares tumbled 10% Wednesday, a day after the online financial platform badly missed revenue estimates and gave soft guidance as the housing market continued to be squeezed by high borrowing costs.

While the top- and bottom-line numbers for Rocket Companies (RKT) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Generated Q3'24 total revenue of $647 million and adjusted revenue of $1.323 billion. Adjusted revenue exceeded the high end of our guidance range Reported Q3'24 GAAP net loss of $481 million, or $0.19 GAAP diluted loss per share and adjusted net income of $166 million, or $0.08 adjusted diluted earnings per share Delivered Q3'24 adjusted EBITDA of $286 million, the highest in two years DETROIT , Nov. 12, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and personal finance businesses, today announced results for the third quarter ended September 30, 2024.

DETROIT , Oct. 29, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that the Company will issue its third quarter 2024 earnings on November 12, 2024. Leadership will host a conference call to discuss results at 4:30 p.m.

Detroit-based Rocket Mortgage will manage a portion of Annaly's serviced clients DETROIT , Oct. 1, 2024 /PRNewswire/ -- Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), and Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly"), the world's largest residential mortgage real estate investment trust, today announced the companies have entered into a subservicing agreement. Under the relationship, Rocket will handle all servicing and recapture activities for a portion of the mortgage servicing rights ("MSR") held by Annaly.