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Stock Market & Financial Investment News

News Breaks
May 9, 2014
14:07 EDTDHID.R. Horton acquires homebuilding operations of Crown Communities
D.R. Horton announced the acquisition of the homebuilding operations of Crown Communities, which builds in Georgia, South Carolina, and eastern Alabama. The homebuilding assets acquired include a sales order backlog of approximately 420 homes sold, 640 homes in inventory and 2,350 lots. D.R. Horton also acquired control of approximately 3,400 lots through option contracts. In calendar 2013, Crown closed 1,540 homes, $375M in revenue, with an average home size of approximately 3,500 square feet and an average sales price of $244,000. Crown is ranked as the 28th largest builder in the United States by Builder Magazine and is the largest builder in the Atlanta market. D.R. Horton will pay approximately $210M in cash for the purchase, and Crown will operate as a separate division within D.R. Horton.
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September 30, 2014
16:27 EDTDHID.R. Horton CEO Tomnitz retires, COO David Auld named successor
D.R. Horton announced that Donald J. Tomnitz, vice chairman, president and Chief CEO, will retire effective October 1, and David V. Auld, currently executive vice president and COO, has been appointed as president and CEOhief Executive Officer. Tomnitz is also retiring from the company’s board. He will remain in a consulting role with the company for three years.
07:33 EDTDHIDeutsche Bank to hold a conference
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September 24, 2014
09:05 EDTDHIOn The Fly: Pre-market Movers
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08:38 EDTDHIKB Home drops 3% to $16.49 after Q3 results miss estimates
KH Home (KBH) peers include Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV), Lennar (LEN), M.D.C. Holdings (MDC), PulteGroup (PHM), Ryland Group (RYL) and Toll Brothers (TOL).

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