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Opendoor Technologies

Opendoor Technologies Inc is a digital platform for residential real estate. This platform enables customers to buy and sell houses online. It generates revenue through home sales, along with other revenue from real estate services.

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Zoom Video Posts Strong Q2 Results, Joins Peloton Interactive, Opera And Other Big Stocks Moving Higher On Thursday

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Opendoor Technologies shares are tumbling in Thursday&#39;s after-hours session after the company reported Q2 financial results.

Opendoor Technologies Q2 Earnings: Revenue Beat, EPS Beat, Weak Guidance Due To &#39;Additional Slowing In Housing Market&#39;

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JMP Securities analyst Nicholas Jones reiterates Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) with a Market Outperform and maintains $2.5 price target.

Price Target

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JMP Securities Reiterates Market Outperform on Opendoor Technologies, Maintains $2.5 Price Target

Opendoor Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>) short percent of float has fallen 4.93% since its last report. The company recently reported that it has 86.28 million shares sold short, which is 14.27% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.53 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Opendoor Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732127411_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Opendoor Technologies has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Opendoor Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Opendoor Technologies's peer group average for short interest as a percentage of float is 5.59%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Opendoor Technologies's Recent Short Interest

Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) sees Q4 sales of $925.000 million-975.000 million vs $1.20 billion estimate.

Opendoor Technologies Sees Q4 Sales $925.000M-975.000M vs $1.20B Est

Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) reported quarterly losses of $(0.10) per share which beat the analyst consensus estimate of $(0.13) by 23.08 percent. The company reported quarterly sales of $1.377 billion which beat the analyst consensus estimate of $1.267 billion by 8.70 percent. This is a 40.51 percent increase over sales of $980.000 million the same period last year.

Earnings Beats

Opendoor Technologies Q3 2024 Adj. EPS $(0.10) Beats $(0.13) Estimate, Sales $1.377B Beat $1.267B Estimate

Management

Opendoor Technologies Appoints Selim Freiha As CFO And Shrisha Radhakrishna As Chief Technology & Product Officer

Opendoor Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>) short percent of float has fallen 3.52% since its last report. The company recently reported that it has 87.64 million shares sold short, which is 14.79% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.16 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Opendoor Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724939117_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Opendoor Technologies has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Opendoor Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Opendoor Technologies's peer group average for short interest as a percentage of float is 5.07%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

U.S. stocks were lower, with the Dow Jones index falling around 100 points on Thursday.
Shares of Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) rose sharply during Thursday's session following <a href="https://www.benzinga.com/news/earnings/24/08/40495102/zoom-video-reports-better-than-expected-q2-results-strong-forward-guidance-details">better-than-expected reported second-quarter financial results.</a>
Zoom reported quarterly earnings of $1.39 per share which beat the analyst consensus estimate of $1.21 by 14.88%. Quarterly revenue of $1.16 billion also beat the consensus estimate and is a 2.09% increase from the same period last year.
Zoom Video shares jumped 12.2% to $67.62 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Peloton Interactive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) shares jumped 27% to $4.27 after reporting better-than-expected second-quarter financial results.</li>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) gained 21% to $10.70 after the company announced a partnership with ePages.</li>
<li>Opera Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRA#NASDAQ">OPRA</a>) rose 16.7% to 14.99 after the company reported better-than-expected second-quarter financial results. Also, the company issued FY24 revenue guidance above estimates.</li>
<li>EHang Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>) gained 14.6% to $14.30 after the company reported better-than-expected second-quarter financial results.</li>
<li>Grifols, S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRFS#NASDAQ">GRFS</a>) rose 11.5% to $8.55.</li>
<li>Olaplex Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLPX#NASDAQ">OLPX</a>) rose 11.4% to $2.44.</li>
<li>Calumet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) gained 11.4% to $19.53.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 10.2% to $14.89.</li>
<li>OSI Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>) rose 8.6% to $157.00 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates.</li>
<li>Lindblad Expeditions Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIND#NASDAQ">LIND</a>) gained 8.6% to $8.93.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) rose 8.5% to $2.18.</li>
<li>Redfin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) rose 7% to $9.66.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) gained 4.7% to $16.14.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40506247/ibm-is-doing-a-great-job-jim-cramer-says-but-dont-buy-this-real-estate-stock">IBM Is Doing A &#8216;Great Job,&#8217; Jim Cramer Says — But Don&#8217;t Buy This Real Estate Stock</a></li>
</ul>

Expectations that the Federal Reserve will soon begin cutting interest rates have driven mortgage rates to their lowest levels in over a year Wednesday, positively impacting both new mortgage applications and <a href="https://www.benzinga.com/money/mortgages">refinancing of existing loans.</a>
The average contract interest rate for 30-year fixed-rate mortgages — with conforming loan balances of $766,550 or less — fell significantly by 27 basis points to 6.55% for the week ending Aug. 2, marking the lowest rate since early May 2023
The decrease of 27 basis points from the rate of 6.82% on July 26 represents the largest weekly drop since July 2022 and reflects sizable reductions in Treasury yields.
The 30-year Treasury yield, a key benchmark for mortgage costs, dropped 34 basis points during the week ending Aug. 2, reaching approximately 4.2%. 
&#8220;Mortgage rates decreased across the board last week&#8230;following dovish communication from the Federal Reserve and a weak jobs report, which added to increased concerns of an economy slowing more rapidly than expected,&#8221; said Joel Kan, the Mortgage Bankers Association&#8217;s vice president and deputy chief economist.
<h3 class="wp-block-heading">Chart: 30-Year Mortgage Rates Drop To Levels Last Seen In May 2023</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-1024x576.png" alt="" class="wp-image-481621" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Demand For Mortgages Jumps, Driven By Lower Interest Rates</h3>
Mortgage applications soared by 6.9% during the week ending Aug. 2, the sharpest increase in nearly two months and fully erasing the cumulative declines in applications from the two prior weeks. 
Applications for a loan to refinance a mortgage, which are more sensitive to weekly changes in interest rates, soared by nearly 16%.&nbsp;The MBA Mortgage Refinance index rose to the highest level in two years. 
Although the Federal Reserve kept the federal funds target unchanged at its July meeting, it hinted at a possible rate cut in September. Market speculation around a Fed rate cut sharply increased as a result of a weaker-than-expected July jobs report.
Commenting on the data, MBA chief economist Mike Fratantoni said: &#8220;The weakness in this report including the slower rate of wage growth and the higher unemployment rate certainly support such a cut, but the next inflation report needs to confirm that price growth is also slowing.
"The market is moving ahead of the Fed, bringing down longer-term rates including those for mortgages, which should lead to both more home purchases and a pickup in refinance activity," he said. 
<h3 class="wp-block-heading">Market Reactions</h3>
Shares of real estate companies surged in premarket trading on Wednesday, with the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) rising by 0.8%, following a 2% gain on Tuesday. The VNQ ETF is on course to reach levels not seen since January 2023.
Top premarket gainers were Howard Hughes Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>), up 14.5%, Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>), up 5.4%, Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>), up 4.6% and Hudson Pacific Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>), up 4.4%.
Mortgage-linked stocks as tracked by the iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>) are up over 2.5% in the premarket, after rallying 2.7% a day earlier. American Healthcare REIT, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHR#NYSE">AHR</a>) and Community Healthcare Trust Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHCT#NYSE">CHCT</a>) led gains, up 9.4% and 2.9%, respectively. 
Read now: 
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40172320/market-bets-on-feds-next-move-is-50-basis-point-cut-in-september-a-done-deal">Market Bets On Fed&#8217;s Next Move: Is 50-Basis-Point Cut In September A Done Deal?</a></li>
</ul>
Photo via Shutterstock.

Deutsche Bank analyst Benjamin Black maintains Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) with a Hold and lowers the price target from $2.4 to $1.85.

Deutsche Bank Maintains Hold on Opendoor Technologies, Lowers Price Target to $1.85

Opendoor Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>) short percent of float has risen 5.94% since its last report. The company recently reported that it has 89.09 million shares sold short, which is 15.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.22 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Opendoor Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722881720_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Opendoor Technologies has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Opendoor Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Opendoor Technologies's peer group average for short interest as a percentage of float is 5.39%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Opendoor Technologies's Recent Short Interest

JMP Securities analyst Nicholas Jones maintains Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) with a Market Outperform and lowers the price target from $4 to $3.25.

JMP Securities Maintains Market Outperform on Opendoor Technologies, Lowers Price Target to $3.25

Shares of DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/08/40116158/doordash-q2-earnings-revenue-beat-eps-miss-total-orders-up-19-results-reflect-years-of-investment-a">second-quarter revenue results</a>.
DoorDash reported second-quarter revenue of $2.63 billion, beating the consensus estimate of $2.54 billion, according to Benzinga Pro. The company reported a quarterly loss of 38 cents per share, missing analyst estimates for a loss of 9 cents per share.
DoorDash shares jumped 10% to $118.88 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>VSee Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSEE#NASDAQ">VSEE</a>) gained 123.4% to $5.43 in pre-market trading after the company announced an agreement with Ava Robotics to develop telepresence solutions for the inpatient intensive care market.</li>
<li>Akanda Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAN#NASDAQ">AKAN</a>) gained 34.5% to $1.95 in pre-market trading after declining 3% on Thursday.</li>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) rose 27.3% to $0.6301 in today's pre-market trading  after the company announced it received a continued listing determination from the Nasdaq.</li>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) jumped 25% to $44.00 in pre-market trading  following better-than-expected second-quarter earnings and strong guidance.</li>
<li>OS Therapies Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSTX#NASDAQ">OSTX</a>) shares gained 22.3% to $3.07 in pre-market trading after dipping 37% on Thursday. OS Therapies reported the pricing of its IPO of 1.60 million shares at $4.00 per share.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) shares gained 17.3% to $4.47 in pre-market trading after dipping around 18% on Thursday.</li>
<li>Vaccinex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCNX#NASDAQ">VCNX</a>) shares gained 16.8% to $5.68 in pre-market trading. The company recently announced results of its early stage SIGNAL-AD clinical trial of pepinemab antibody in AD.</li>
<li>Integral Ad Science Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) shares rose 12.9% to $11.20 in pre-market trading after the company reported better-than-expected quarterly financial results and issued FY24 revenue guidance above estimates.</li>
<li>MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) shares rose 9.1% to $1,751.21 in pre-market trading after the company reported better-than-expected quarterly financial results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Gamer Pakistan Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPAK#NASDAQ">GPAK</a>) shares fell 39.2% to $0.1021 in pre-market trading after the company announced it received a delisting notice from the Nasdaq.</li>
<li>Fresh Vine Wine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINE#NASDAQ">VINE</a>) shares dipped 37.5% to $0.2730 in pre-market trading after the company announced that it terminated the merger agreement with Notes Live.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell 21.9% to $22.72 in pre-market trading after the company reported its second-quarter financial results Thursday.</li>
<li>Procore Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) shares declined 21.9% to $52.48 in pre-market trading after the company reported second-quarter financial results and issued third-quarter revenue guidance below estimates.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) fell 17.1% to $10.62 pre-market trading after the company reported mixed second-quarter financial results.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) shares declined 16.9% to $143.94 in pre-market trading after the company posted fourth-quarter results.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares fell 11.7% to $1.88 in pre-market trading after the company reported second-quarter financial results.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) dipped 10.9% to $1.80 in pre-market trading after the company posted weak second-quarter results.</li>
<li>Mitsubishi UFJ Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) shares declined 8.5% to $10.11 in pre-market trading.</li>
<li>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares fell 8.4% to $168.63 in pre-market trading as the company posted mixed results for its second quarter on Thursday.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/08/40118500/nvidia-maplebear-and-two-other-stocks-insiders-are-selling">NVIDIA, Maplebear And Two Other Stocks Insiders Are Selling</a></li>
</ul>

Opendoor Technologies shares are trading lower after the company reported Q2 financial results and issued Q3 revenue guidance below estimates.

U.S. stock futures were lower this morning, with the Dow futures falling around 300 points on Friday.
Shares of Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell in today's pre-market trading after the company reported its second-quarter <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">financial results Thursday</a>.
Intel reported quarterly earnings of 2 cents per share which missed the analyst consensus estimate of 10 cents by 80% and represents a 84.62% decrease from the same period last year. Quarterly sales came in at $12.83 billion, missing the analyst consensus estimate of $12.94 billion and representing a 0.9% decrease year-over-year.
Intel shares fell 21.5% to $22.80 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Procore Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) shares declined 21.9% to $52.48 in pre-market trading after the company reported second-quarter financial results and issued third-quarter revenue guidance below estimates.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) fell 17.1% to $10.62 pre-market trading after the company reported mixed second-quarter financial results.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) shares declined 16.9% to $143.94 in pre-market trading after the company posted fourth-quarter results.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares fell 11.7% to $1.88 in pre-market trading after the company reported second-quarter financial results.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) dipped 10.9% to $1.80 in pre-market trading after the company posted weak second-quarter results.</li>
<li>Mitsubishi UFJ Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) shares declined 8.5% to $10.11 in pre-market trading.</li>
<li>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares fell 8.4% to $168.63 in pre-market trading as the company posted mixed results for its second quarter on Thursday.</li>
<li>Sumitomo Mitsui Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) fell 6.3% to $13.20 in pre-market trading.</li>
<li>CenterPoint Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNP#NYSE">CNP</a>) declined 6.2% to $26.40 in pre-market trading. BMO Capital analyst James Thalacker downgraded CenterPoint Energy from Outperform to Market Perform and lowered the price target from $31 to $28.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares fell 6.2% to $828.70 in pre-market trading.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/markets/24/08/40118500/nvidia-maplebear-and-two-other-stocks-insiders-are-selling">NVIDIA, Maplebear And Two Other Stocks Insiders Are Selling</a></li>
</ul>

Intel Reports Weak Results, Joins Amazon, Opendoor Technologies And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Opendoor Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares are tumbling in <a href="https://www.benzinga.com/pressreleases/24/08/g40113828/opendoor-announces-second-quarter-of-2024-financial-results">Thursday&#8217;s after-hours session</a>.
 The San Francisco-based company reported financial results for the second quarter. Here&#8217;s a rundown of the print.
<ul>
<li>Q2 Revenue: $1.511 billion, versus <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of $1.468 billion</li>
<li>Q2 EPS: Loss of 4 cents, versus estimates of for loss of 11 cents</li>
</ul>
&#8220;We are proud of our&nbsp;second quarter&nbsp;performance and the progress we&#8217;ve made in building a platform where all customers can begin their home selling journey. Revenue, Contribution Margin, and Adjusted EBITDA exceeded the high end of our&nbsp;guidance, and our acquisitions outperformed expectations, growing nearly&nbsp;80%&nbsp;year-over-year,&#8221; said Carrie Wheeler, CEO of Opendoor.
&#8220;During the back half of the second quarter, we began responding to signals that indicated additional slowing in the housing market. We are making decisions that appropriately balance growth, margin, and risk in what continues to be a challenging environment,&#8221; Wheeler added.
See Also: <a href="https://www.benzinga.com/news/earnings/24/08/40116158/doordash-q2-earnings-revenue-beat-eps-miss-total-orders-up-19-results-reflect-years-of-investment-a">DoorDash Q2 Earnings: Revenue Beat, EPS Miss, Total Orders Up 19%, Results Reflect &#8216;Years Of Investment And Product-Level Focus&#8217;</a>
Outlook: Opendoor said it expects third-quarter revenue to be in the range of $1.2 billion to $1.3 billion versus estimates of $1.59 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The company anticipates a third-quarter adjusted EBITDA loss of 60 million to 70 million.
Shares appear to be responding negatively to the combination of weak guidance paired with cautious commentary about the housing market. 
OPEN Price Action: Opendoor shares were down 14.6% after hours at $1.82 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Opendoor Technologies Q2 Earnings: Revenue Beat, EPS Beat, Weak Guidance Due To 'Additional Slowing In Housing Market'

<ul>
<li>3Q24 Contribution Profit1&nbsp;guidance&nbsp;of&nbsp;$35 million&nbsp;to&nbsp;$45 million</li>
<li>3Q24 Adjusted EBITDA1&nbsp;guidance&nbsp;of&nbsp;$(70)&nbsp;million to&nbsp;$(60)&nbsp;million</li>
</ul>

Opendoor Expects Q3 Revenue Of $1.2B - $1.3B, Est $1.59B

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