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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.
News For DHI From The Last 14 Days
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June 19, 2015
14:26 EDTDHIHomebuilders advance after KB Home reports earnings
Shares of homebuilder stocks are rallying in a down market after group member KB Home (KBH) reported second quarter EPS of 10c on revenue of $623M, beating consensus estimates of 8c and $619M, respectively. Net orders grew 33% to 3,015 in the current quarter, compared to 2,269 in the year-earlier quarter, largely driven by expansion in the company’s average community count. PRICE ACTION: In afternoon trading KB Home is up about 10% to $16.46. Other homebuilder stocks are moving up as well, with DR Horton (DHI) and PulteGroup (PHM) each up about 2% and Lennar (LEN) up 3%.

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