Concrete Pumping, APi shares fall as hot April CPI lifts Treasury yields

Concrete Pumping (BBCP) and APi Group (APG) traded lower after April CPI rose 3.8% from a year earlier, pushing the 10-year Treasury yield to 4.43% and reinforcing expectations for higher mortgage rates. The move pressured construction-related stocks as the 30-year fixed mortgage rate stood at 6.45% earlier in the week and existing home sales growth missed analyst expectations. The median existing home price reached a record $417,700, further straining affordability. Concrete Pumping shares were at $7.47, up 7.9% year to date and near a 52-week high of $8.08. The stock has posted 13 moves of more than 5% over the past year. Its largest recent decline came 11 months earlier, when shares fell 15.6% after first-quarter fiscal 2025 revenue, operating profit and earnings missed estimates, with sales down 12%.