MARKET HIGHLIGHTS
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market highlights
GOOD WEEK
iRobot (IRBT +6.96%) stock jumped amid being is on its own again after the Amazon deal fell through. Investors are optimistic on how iRobot will grow its business now.
Oracle (ORCL 0.01%) soared following its fiscal data report, which surpassed expectations. Despite rapidly expanding its data center operations, Oracle remains confident in sustaining hypergrowth in its Gen2 Cloud infrastructure business in the long term.
BAD WEEK
Zillow Group (Z -13.49%) took a dive on following news that the National Association of Realtors agreed to settle lawsuits filed by home sellers. These lawsuits alleged a conspiracy within the industry to artificially inflate agent commissions.
Plug Power's (PLUG -0.30%) stock price dropped this week despite a flat daily performance. Investors reacted poorly to the company restructuring its debt with higher interest rates, raising concerns about Plug Power's financial burden and long-term profitability.
WHAT ELSE HAPPENED
Solar energy stocks had another rough week as interest rate fears and new investor lawsuits came to light. Interest rates are critical to solar companies because solar projects are financed over decades. The higher the interest rates on the funds they use are, the lower the present value of the projects' long-term cash flows.
While a lot of consumers are eager to see the Fed lower interest rates, one benefit of rates holding steady is that banks are still paying more interest on products like savings accounts and certificates of deposit (CDs). So if the Fed decides to wait on lowering interest rates, it gives savers the opportunity to earn more on their money.
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