Fintechs Upstart and Toast soar on earnings

Company Performance - Upstart's revenue increased by 20% in Q3 to $162 million, surpassing analyst expectations, with CEO David Girouard stating the company is in "growth mode" [2] - Toast's stock has more than doubled this year, with an adjusted earnings forecast of$ 90 million to $100 million for the current quarter, exceeding estimates [2] Market Trends - Both Upstart and Toast experienced significant stock rallies, with Upstart soaring 46% and Toast jumping 14% following better-than-expected results [1][2] - The overall market saw a rally after Donald Trump's election victory, with the Nasdaq index rising 5.7% for the week, marking its second-best week of the year [3] Cryptocurrency Sector - Coinbase shares surged 48% for the week, bolstered by significant political contributions and potential regulatory changes favorable to the crypto industry [4] - Robinhood's stock rose 27% for the week, despite receiving a Wells Notice from the SEC, indicating ongoing regulatory scrutiny [5] - Bitcoin reached a new intraday high above$ 77,300, ending the week 11% higher, with other cryptocurrencies like Ether and Solana also outperforming Bitcoin [5] Other Fintech Companies - Block, the parent company of Square, reported Q3 revenue that fell short of Wall Street expectations, resulting in a slight stock drop [6] - Affirm, despite beating revenue and earnings estimates, saw its stock decline by 4.7% on Friday, although it remained slightly ahead of the Nasdaq for the week [6]