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Friday, May 23, 2025
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Midday Trading: Tri Pointe, First American Lead Decliners

Markets dropped sharply a day after the Fed’s biggest interest rate increase since 1994 and amid recession fears.

The S&P 500 declined 2.9% to 3,679.72 while the Dow 30 was off 2% to 30,049.79 and Nasdaq dropped 3.8% to 10,681.74.

Crude oil increased 1.4% to $116.91 a barrel.

Gold rose 1.85 to $1,852 an ounce.

The yield on a 10-year bond declined 1.97% to 3.328%.

REAL ESTATE

Irvine-based Tri Pointe Homes Inc. (NYSE: TPH) dropped 12% to $15.74 and a $1.6 billion market cap. Shares of the residential homebuilder are off 45% since their 52-week high in December. The analyst firm B. Riley today downgraded the shares from buy to neutral and reduced the target price from $26 to $20.

First American Financial Corp. (NYSE: FAF) fell 5.8% to $49.57 and a $5.3 billion market cap. Shares of the Santa Ana-based provider of title insurance have dropped almost 40% since their 52-week high in February.

 

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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