August 10, 2020
Shares of Rocket Companies (Tii:RKT) rose as much as 26% in the company's public trading debut on the New York Stock Exchange on Thursday. Rocket Companies, the parent company of Quicken Loans and Rocket Mortgage, on Wednesday priced its initial public offering at $18 a share for 100 million shares.
Lordstown Motors, the one-year-old Ohio electric automaker that revealed a pickup truck prototype in June, has reached a deal to merge with special-purpose acquisition company DiamondPeak Holdings (Tii:DPHC), with a market value of $1.6 billion.
Ford Motor Co. (Tii:F) plans to install Chief Operating Officer Jim Farley as its new CEO, putting the onus on the 58-year-old executive to produce the tangible results that eluded his predecessor Jim Hackett during a three-year run in the top job.
Wayfair (Tii:W)shares are bouncing back Wednesday after the online home-furnishings seller posted better-than-expected June-quarter results but declined to give guidance for the current quarter, citing ongoing uncertainties tied to the pandemic.