Fair Isaac Shares Plunge 18% Premarket as Mortgage Pricing Overhaul Threatens FICO Monopoly

U.S. stock futures steadied on Tuesday morning after a losing Monday session driven by rising Treasury yields, with Dow futures up about 46 points, S&P 500 futures gaining 0.1% and Nasdaq-100 futures adding 0.2%. The benchmark 10-year Treasury yield pulled back more than 3 basis points to 5.209% and the 30-year fell roughly 2 basis points to 5.54%, offering equities some relief alongside a drop in oil prices, with Brent crude shedding more than 1% to around $103.75 per barrel.

The biggest premarket mover was Fair Isaac, whose shares fell 18% after Federal Housing Finance Agency director Bill Pulte announced that Fannie Mae and Freddie Mac would consolidate their mortgage pricing onto a single grid and add VantageScore alongside the existing FICO Classic score, directly challenging FICO's dominant position in mortgage underwriting. Pulte framed the change as a simplification driven by lender and consumer feedback.

AMD rose more than 1% premarket after announcing it had acquired AI firm World Labs for $8.2 billion, with Nvidia adding 0.7% and Meta Platforms rising 1.1%, collectively leading the tech sector higher. MongoDB bounced 1.6% premarket after an 18.5% decline on Monday, and Reddit also pointed to a higher open. Bloomin' Brands, parent of Outback Steakhouse, jumped 5% following a JPMorgan upgrade to neutral from underweight. Oracle was under pressure after reports that it invoked force majeure on part of Project Jupiter, its large New Mexico AI data-center buildout, adding to existing concerns about the company's rising debt load.