Fair Isaac Corporation (FICO) is concluding the week on a positive note, with its stock price increasing significantly. The credit analytics firm has emerged as one of the top-performing stocks in the S&P 500 for the second day in a row, advancing over 4% in recent trading sessions. This follows a remarkable surge of nearly 18% yesterday, driven by the announcement that FICO will provide its FICO credit scores directly to companies that issue credit reports to lenders.
This announcement had a notable impact on the market, causing shares of major competitors, TransUnion (TRU) and Equifax (EFX), to decline by approximately 11% and 8.5%, respectively. However, both stocks showed signs of recovery on Friday, with TransUnion shares climbing by 3.5% and Equifax shares increasing by less than 1%.
The Consumer Discretionary sector was the second-worst performer among the 11 industries tracked by the S&P 500 on Friday morning. This downturn was largely influenced by the poor performance of Las Vegas Sands (LVS) and Wynn Resorts (WYNN), which experienced the largest declines shortly after the market opened. Both casino operators saw their shares drop by about 6%, while rival MGM Resorts International (MGM) also faced a decline of roughly 2%.
The lack of a clear reason for these declines has raised questions among investors. However, recent reports indicated that Macau's gross gaming revenue figures for September fell below expectations, adding to the market's unease.
Applied Materials (AMAT) has announced that it expects a significant $710 million revenue hit from new restrictions imposed on its exports to China. This revelation has put pressure on the shares of the chip manufacturing equipment maker. The Commerce Department’s Bureau of Industry and Security issued a rule on September 29 that restricts Applied Materials' ability to export certain products and provide specific parts and services to designated customers in China without a license.
Applied Materials indicated that these new regulations would lead to a reduction of approximately $110 million in its fourth-quarter net revenue and about $600 million for fiscal 2026. Previously, U.S. companies were only required to obtain licenses when selling products to certain firms on a designated entity list. The new rules, however, expand the requirements to companies that are 50% or more owned by entities on the list, effectively closing a significant loophole.
Cracker Barrel Old Country Store (CBRL) has chosen to end its partnership with the firm that advised it on its controversial redesigns. The restaurant chain announced this decision in a filing, stating that it would no longer engage with Prophet, the global strategic and creative growth consultancy involved in its brand refresh initiatives, including the logo and restaurant redesigns.
On August 19, Cracker Barrel unveiled a new logo that omitted a male character, which sparked backlash from some consumers and drew the attention of former President Donald Trump. This controversy led to debates regarding whether the redesigned stores adopted an overly modern aesthetic. Within a week, Cracker Barrel announced it would revert to its previous logo. As of Friday, Cracker Barrel shares, which had previously dropped 16% this year, saw a slight increase of 1% before the market opened.
SoFi Technology (SOFI) is set to enhance its options trading capabilities for customers. The digital financial services provider announced on Thursday that it is rolling out level 1 options, designed specifically for beginners. This new offering will include strategies such as covered calls and cash-secured puts, in addition to the level 2 strategies already available to users.
SoFi's new options trading features come with no commissions or contract fees, making it accessible to a broader audience. The company also plans to provide built-in educational resources to help members understand how to navigate these trading options effectively. Users will be able to apply for approval through the company's app, and SoFi aims to make this feature available to all eligible members in the upcoming weeks. With this expansion, SoFi aims to empower its members to responsibly diversify their investment strategies and work towards their long-term financial objectives with confidence.
