00:13 Speaker A
It’s time now for today’s trending tickers. Now, H&M shares, they’re searching. They’re up over 8% now after the Swedish retailer posted a blockbuster third quarter operating profit.
00:30 Speaker A
It jumped to 4.91 billion crowns, up from 3.51 billion a year ago, as customers snapped up its autumn collections. That easily beat analyst expectations. CEO Daniel Irver, who took the reigns back in January 2024, has been pushing trendier styles to compete with the likes of Shean and Zara.
00:51 Speaker A
But H&M is warning that looming US tariffs will squeeze margins in the current quarter. That headwind is definitely worth watching as the apparel chain shifts some sourcing closer to America.
01:03 Speaker A
Now, Tesla is in the spotlight as we just got some fresh European sales data. While the stock is almost stable this morning, down about half of a percent and still hovering around 2025 highs, Chinese rival BYD, well, it overtook Tesla for the second straight month. While Tesla’s sales slumped more than 36%, BYD sold three times as many new cars in the European Union last month, as it did a year earlier.
01:31 Speaker A
Tesla’s market share, wait for it, is now 1.2% in Europe. Investors remain focused on whether the EV pioneer can make strides in robotics, AI, and other areas Elon Musk is prioritizing.
01:46 Speaker A
Now, on to Opendoor, which has really been trying not to look like a meme stock, but certainly does look like one.
01:56 Speaker A
The real estate platform keeps seeing big swings. Its shares closed Wednesday up more than 16% and and adding another seven, well, 6.3% pre-market. The catalyst this time seems to be a filing showing that Jane Street Group has taken a 5.9% stake, about 44 million shares, signaling institutional confidence.
02:16 Speaker A
Positive housing data also helped. US new home sales in August jumped 20.5% month over month. The news is keeping retail traders confident in Opendoor, which is up nearly 1,400% in the past three months. While analysts caution that the stock is still highly speculative as well.
02:35 Speaker A
Now, another stock you need to know about, Hertz Global. The car rental company is popping in early trade, up now about 5% in pre-market after it announced I it’s now down 1% in pre-market. Now, it announced plans to expand its se- sell senior notes and is looking to clean up its balance sheet.
02:54 Speaker A
That plus earlier news this year that activist Bill Ackman’s Pershing Square owns a 20% and a recent partnership with Amazon Auto has bulls optimistic even though Hurt still carries a heavy debt load.