Weekly return
LAFDI
0.03%
MSCI World
-0.35%
Top 5 performing Stocks in last week
1
TREE US Equity
38.24%
2
TAXI US Equity
8.87%
3
NEWS US Equity
8.68%
4
OPAY LN Equity
7.07%
5
FLT US Equity
3.06%
Worst 5 performing Stocks in last week
1
ONDK US Equity
-28.41%
2
MNY AU Equity
-10.15%
3
SGM US Equity
-8.16%
4
CACC US Equity
-7.03%
5
NSM US Equity
-6.49%
* Returns are calculated for the week to local market close on Thursday.
LendingTree, the US based online lending broker, reported its second quarter earnings on Monday and increased its full year outlook. The company now expects full year revenues to lie in the $225-230 million range, significantly up from the previous $202-208 million guidance. The market took this news very well with the stock up 40% at one point before falling back slightly. Over the week the stock closed up 38%. The LendingTree CEO and chairman, Doug Lebda, was similarly upbeat on the earnings call:
“The online lending market continues to expand and Lendingtree is positioned perfectly to capture an increased share of a burgeoning market. Our continued business strength in both mortgage and non-mortgagee categories gives us confidence to increase our guidance for the remainder of the year.”
Medallion Financial’s stock enjoyed a bounce this week, closing up 9%. This comes after an exceptionally poor run over the past 12 months over fears about the impact of Uber on the business model.
At the other end of the spectrum, the week’s biggest loser was OnDeck, the US online small business lender. It’s shares fell 28% on the week after it reported its second quarter earnings and reduced its full year revenue guidance on Monday. Despite a 69% growth in loan origination on the same period last year, investors were left disappointed. OnDeck’s shares are now trading at $9, less than half the IPO price of $20 in December last year.
Please note : The LAFDI is now available on Bloomberg. Tickers:
LAFDITR Index <GO> for the Total Return Index
LAFDIPR Index <GO> for the Price Return Index
