--- title: "Webull falls 19.1% and Hess Midstream 14.6%; Penguin rises 13.1%" url: "https://etf.net/news/webull-falls-19-1-and-hess-midstream-14-6-penguin-rises-13-1-2026-10-07" published_at: "2026-10-07T21:17:47.658Z" updated_at: "2026-10-07T21:17:47.658Z" byline: "ETF.net Research" --- # Webull falls 19.1% and Hess Midstream 14.6%; Penguin rises 13.1% Webull closed down 19.1% on Wednesday, October 7, 2026, after a House panel called its China ties a national security risk, while Hess Midstream fell 14.6% and Penguin Solutions rose 13.1%. By ETF.net Research. Published Oct 7, 2026. Webull, the online brokerage, fell **19.1%** to $5.89 at Wednesday's close after a House panel said its ties to China are a national security risk. Hess Midstream fell **14.6%** to $33.03 after a deal with Chevron. Penguin Solutions rose **13.1%** to $72.61 after it beat forecasts and raised its sales outlook. It was Webull's worst day since April 17, 2025. The shares are down 38% since September 8. The House Select Committee on China released its report on Wednesday. It said the concern has grown since October 2025, when Webull began holding customers' cash itself. The panel said that creates "a structural exposure of billions of dollars in American capital." The report put those customer assets at $24.6 billion. The report said the firm's ownership, technology, financing and the way it moves data across borders "are tied in structural ways" to the People's Republic of China. Webull disputed the findings. A spokesperson said the report contained "significant inaccuracies and unsupported conclusions," and that U.S. customer data is stored in the United States. The company said it had not heard from the committee for more than 20 months before the report was published. Hess Midstream agreed Tuesday evening to pay Chevron $200 million and to charge less to collect, move and process Chevron's oil and gas in North Dakota's Bakken fields from 2027 through 2033. The contracts now run through 2045. Chevron said the lower fees should cut its Bakken costs by about 50%. Chevron will hand over its ownership stake, nearly 40% of the shares, and the role that runs the partnership. Hess Midstream will cancel those shares. Chevron will also hand over pipelines and storage in the DJ Basin. Penguin, which sells memory and the gear for artificial-intelligence computers, reported on Tuesday. Sales were $567 million, up 68% from a year earlier, a company record, and ahead of the $521 million analysts expected. Adjusted earnings of $1.00 a share beat the 77-cent estimate. It raised its outlook for the next fiscal year to about $2.43 billion in sales, growth of about 40%, within 10 percentage points either way. It had outlined roughly 30% growth before, which pointed to $2.17 billion. The Federal Trade Commission and the U.S. Department of Agriculture opened a public inquiry on Wednesday into how farm equipment is made and sold, including possible limits on competition. Deere fell 3.8%. AGCO and CNH Industrial each fell 6.1%. Crypto prices fell, and the funds that hold the coins fell with them. Just after the stock-market close, bitcoin was at $83,394, down 2.5% on the day, and the fund that holds it, IBIT, closed down 2.6%. Ether was at $2,569, down 4.7%, and the fund that holds it, ETHA, closed down 4.6%. The day's worst fund was HBR, which holds HBAR, the token of the Hedera network, down 7.5%. The day's best was WNTR, built to rise when shares of Strategy Inc. fall. It rose 5.4% after Strategy, the bitcoin-holding company once called MicroStrategy, fell 6.8%. Chart: The day's five worst ETFs were all **crypto** funds ## Yields touched a high last seen in 2002 The 10-year Treasury yield touched 5.35% during the day, its highest since 2002, and ended at 5.28%. Stocks fell as it tested that high. The fund that holds the S&P 500, SPY, fell 0.24%, and small U.S. companies fell further: the fund that holds them, IWM, fell 1.3%. The Fed raised rates in September, its first increase since 2023. Minutes of that meeting, released Wednesday, said most officials thought another increase would likely be appropriate by the end of the year. The Treasury sold $39 billion of 10-year notes at a yield of 5.30%. Investors buying through dealers, including foreign central banks, took 80.3% of the notes, above the 72.4% average of the past 10 auctions. Gold was at $4,138 just after the close, down 1.2% on the day. The fund that holds gold, GLD, closed down 1.7%. A fund of gold-mining stocks, GDX, fell 3.1%. Chart: Small caps, gold and miners **fell further** than the S&P 500 Caterpillar fell 5.7%. It sells heavy machines that customers often buy on credit, and the stock fell on the day those long-term yields hit that high. A fund that holds long-term U.S. government bonds, TLT, traded as low as $76.43, its lowest price in the past year, and closed down 0.17%. Source: etf.net, https://etf.net/news/webull-falls-19-1-and-hess-midstream-14-6-penguin-rises-13-1-2026-10-07. Please cite the page URL.