Happen Inc (HAPN) News & EventsHAPNHappen Inc

Energy Stocks Drop, Nvidia Falls 5% on AI Investment

Headline-driven risk regarding the uncertainty in the standoff between the US and Iran over the Strait of Hormuz passage, as well as the magnitude of AI investment being made by Tech megacaps, continues to play out in Monday's trading.  Energy was the worst performing sector in the S&P 500 as the US has paused its military activity in Iran with a new focus on diplomacy.  Industry giants such as Chevronand Exxon Mobilwere down by 1%-2% while Devon Energyfell over 4%.  In the Tech space, investors sneered at Nvidiafor announcing $750B in total spend between its $250 backstop for OpenAI and a $500B joint investment with South Korea's SK Group, sending the stock down by 5% to three-week lows.   Other semiconductors and semiconductor equipment names traded lower in sympathy while the "anti-AI trade" - enterprise software - was generally strong.    Traders also piled into the Consumer Defensive sector as Walmartand Costcocontinued their bounce for the second day in a row.In the opening hour of the evening session S&P e-minis are trading flat while the NASDAQ 100 contract is down 0.2%.   WTI crude oil remains under pressure, trading closer to $82% per barrel.   Sentiment swings and wide trading ranges could remain a theme this week with more hyperscalers on deck for quarterly earnings as well as a Federal Reserve policy decision this coming Wednesday.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -OPKO Health, Inc.up 8.9%Celesticaup 8.1%Applied Digitalup 5.6%Happenup 4.0%Cadence Design Systemsup 3.2%F5, Inc.up 1.0%DOWN AFTER EARNINGS -Universal Health Servicesdown 4.7%Noble Corporationdown 4.4%Amkor Technologydown 3.5%Kforcedown 2.9%Cincinnati Financialdown 2.4%ALSO LOWER -Aehr Test Systemsdown 4.6% after equity offering

Happen Reports Q2 Revenue of $262.9M, Exceeding Expectations

Reports Q2 revenue $262.9M, consensus $262.35M. "Happen delivered a standout quarter, growing originations 29% year-over-year to $3.1 billion, while producing record pre-tax income of $75.7 million and a return on tangible common equity of 15.9%," said Scott Sanborn, CEO, Happen, Inc. "This is our first quarter operating under the Happen Bank brand, and our results demonstrate exactly what the brand represents: forward momentum. Our core business is firing on all cylinders. We're ramping our entry into the $500 billion home improvement market and we're innovating on behalf of our members, all while growing earnings and increasing returns for our shareholders."

Sees FY26 Loan Originations at $12.2B-$12.6B

Sees FY26 loan originations $12.2B-$12.6B.