30-YEAR MORTGAGE RATES AT 5.3%:

Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.3 percent from 5.27 percent last week. The average rate stood at 2.94 percent a year ago. Some economists predict that home sales this year could decline as much as 10 percent from 2021 levels.

BEYOND MEAT DISAPPOINTS:

Plantbased meat company Beyond Meat reported lower-than-expected revenue in the first quarter as it slashed prices and demand from restaurants fell. The El Segundo company said its revenue rose 1.2 percent to $109.5 million in the January-March period. That fell short of Wall Street’s forecast. Beyond Meat said the total volume of products sold in the first quarter rose by 12 percent, but net revenue per pound dropped 10 percent as it cut prices. The company’s earnings also fell short of forecasts after taking a hit from the expensive launch of Beyond Meat Jerky.

SOFTBANK REPORTS LOSSES:

Japanese technology company SoftBank has dropped into losses as the value of its investments declines. It reported red ink totaling $13 billion for the fiscal year through March, a reversal from a $37.9 billion profit the year before. Although the company’s portfolio is not directly exposed to the war in Ukraine, global uncertainty and inflation are having a negative impact on investments.