Finance of America Companies shares jumped 11.8% to close at $24.21 in the last trading session, driven by heavy volume. The rally followed improved investor sentiment after a landmark bipartisan affordable housing bill advanced in the U.S. House and moved to President Donald Trump for final approval, which could boost mortgage-related stocks. The company is expected to report quarterly earnings of $1.12 per share, a year-over-year increase of 103.6%, on revenues of $89.1 million, down 49.8% from the prior-year quarter. Consensus earnings estimates have remained unchanged over the past 30 days, and the stock carries a Zacks Rank #3, or Hold. Rocket Companies, another stock in the Zacks Financial - Mortgage & Related Services industry, closed 1.5% higher at $15 and has returned 2.6% over the past month.
Finance of America Companies IncBipartisan affordable housing bill advanced in U.S. House, expected to boost mortgage-related stocks.
Rocket Companies IncMentioned as another stock in the same industry that also rose on the housing bill progress.