💳 FICO cuts out the middlemen

Good evening. Stocks climbed again after OpenAI’s valuation hit $500 billion in a private share sale, making the ChatGPT maker the world’s most valuable startup and lifting chipmakers like Nvidia and AMD to new highs.

⬆︎⬇︎ 1-day change
Market data: today’s market close

WINNERS

⬆︎17.98% FICO

Fair Isaac, the company behind the FICO credit score, introduced a new pricing model that cuts out credit bureaus as middlemen. Instead of paying Experian, TransUnion, or Equifax, lenders can now license FICO scores directly through mortgage resellers, potentially lowering costs for borrowers. FICO scores are used in nearly 90% of lending decisions. [Read more]

⬆︎9.38% Rocket Lab

Rocket Lab just scored its biggest customer order yet. The space launch company will handle 10 more missions for Japanese satellite operator Synspective, bringing their total to 21 and cementing Rocket Lab as the exclusive launch provider for Synspective’s growing fleet. [Read more]

MORE WINNERS

⬆︎25.99% Ondas
⬆︎23.36% USA Rare Earth
⬆︎18.59% Rigetti
⬆︎10.46% SoundHound AI

⬆︎⬇︎ 1-day change
Market data: today’s market close

LOSERS

⬇︎3.18% Edison

Edison International just lost a major federal grant. The power provider had been awarded $600 million last year to modernize 100 miles of transmission lines, but the Department of Energy is canceling the funding as part of a broader rollback of $3.1 billion in climate-related projects. [Read more]

⬇︎7.39% Rivian

The electric truck and SUV maker delivered more vehicles than expected last quarter, but trimmed its 2025 delivery forecast. It now expects to ship up to 43,500 vehicles next year, slightly below earlier guidance, as demand cools following the expiration of a $7,500 U.S. tax credit. [Read more]

⬇︎7.31% Occidental

Warren Buffett’s Berkshire Hathaway agreed to buy Occidental Petroleum’s chemical arm, OxyChem, for $9.7 billion, using $6.5 billion of the proceeds to bring down its debt. Analysts warn it may hurt future cash flow since OxyChem had been a key growth driver and may have been sold for less than its estimated $12 billion value. [Read more]

⬇︎4.22% Experian
⬇︎8.47% Equifax
⬇︎10.64% TransUnion

The big three credit bureaus took a hit from Fair Isaac’s new direct-to-lender model, since they’ve long made money by acting as middlemen on FICO score sales. Analysts warn the change could reduce bureau earnings by 10% to 15% as lenders bypass their markup and negotiate more directly. [Read more]

MORE LOSERS

⬇︎4.64% Cactus
⬇︎5.11% Tesla
⬇︎6.24% Embraer

⬆︎⬇︎ 1-day change
Market data: today’s market close

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