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October 5, 2015
07:18 EDTTOLToll Brothers upgraded to Positive from Neutral at Susquehanna
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October 2, 2015
12:27 EDTKBHBalyasny Asset reports 5.48% passive stake in KB Home
06:26 EDTSPF, RYLCalAtlantic reinstated with Overweight, added to Focus List at JPMorgan
JPMorgan analyst Michael Rehaut reinstated CalAtlantic Group (CAA) with an Overweight rating and added the stock to his firm's Equity Analyst Focus List. Rehaut has a $56 price target for shares. The homebuilder offers investors "solid" geographic diversity and "strong" positioning in many core markets, the analyst tells investors in a research note. CalAtlantic is the renamed merged entity of Standard Pacific (SPF) and Ryland Group (RYL).
October 1, 2015
06:07 EDTSPF, RYLStandard Pacific, Ryland Group announce merger to create CalAtlantic Group
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September 28, 2015
08:15 EDTLENLennar pullback provides a buying opportunity, says Morgan Stanley
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September 25, 2015
16:17 EDTRYL, SPFRyland Group to host special shareholder meeting
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16:05 EDTRYL, SPFStandard Pacific to host special shareholder meeting
Special Shareholder Meeting to vote on the merger with The Ryland Group, whereby Standard Pacific will continue as the surviving corporation under the name CalAtlantic Group, will be held in Irvine, California on September 28 at 1:30 pm.
September 24, 2015
18:05 EDTRYL, SPFS&P announces changes to the S&P 400, 600 indices
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17:21 EDTRYLRambus to replace Ryland Group in S&P 600 as of 10/1 close
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17:19 EDTSPFHelix Energy to replace Standard Pacific in S&P 600 as of 10/1 close
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17:19 EDTSPFStandard Pacific to replace Helix Energy in S&P 400 as of 10/1 close
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15:52 EDTTOLOptions with increasing volume; RIG YNDX BLK BBBY TOL HES CC
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12:02 EDTKBHKB Home says may have 'slight' sequential decline in year-end community count
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11:58 EDTKBHKB Home sees 2015 average community count expansion in excess of 20% vs. 2014
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11:54 EDTKBHKB Home sees Q4 housing revenue $1.04B-$1.1B
Says in "active" negotiations on additional land sales, but doesn't see closing any deals in Q4. Sees housing gross profit margin increasing sequentially in Q4. Still sees housing gross profit margin in excess of 18% in Q4. Sees Q1 housing gross profit margin in mid 16% range
11:50 EDTKBHKB Home says entering Q4 from 'position of strength'
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08:32 EDTKBHKB Home: Q3 results showed broad-based improvement in virtually all metrics
"Our third quarter results showed broad-based improvement in virtually all key operational and financial metrics across our four regions," said Jeffrey Mezger, president and CEO. "In particular, we achieved appreciable growth in homes delivered, revenues and pretax earnings in the third quarter largely through the execution of our core strategies. This performance reflects our measurably expanded community count and success in converting the robust backlog we built during the first half of this year into deliveries. Moving forward, we remain focused on improving profitability by expanding our housing gross profit margin and increasing operating leverage as we continue to build up the scale of our business. Based on the progress we have made on our strategic priorities, our significantly higher backlog, and the continued improvement in housing market fundamentals, we are anticipating a strong finish to the year. Furthermore, we expect to maintain this momentum into 2016."
08:31 EDTKBHKB Home reports Q3 EPS 23c, consensus 22c
Reports Q3 revenue $843.2M, consensus $818.53M. Housing revenues increased 36% to $798.6 million from $586.2 million for the corresponding period of 2014, reflecting greater delivery volume and a higher overall average selling price. The Company delivered 2,236 homes, up 25% from 1,793 homes in the year-earlier quarter. The overall average selling price rose 9% to $357,200, compared to $327,000 a year ago, as average selling prices increased in each of the Company's four regions. Land sale revenues totaled $41.6 million, reflecting activity in the Company's West Coast, Southwest and Southeast regions. There were no land sales in the year-earlier period. Potential future housing revenues in backlog grew 44% to $1.59 billion at August 31, 2015, from $1.10 billion at August 31, 2014, reflecting substantial year-over-year increases in each of the Company's four regions. Net orders grew 19% to 2,167 for the quarter, compared to 1,827 in the year-earlier quarter. The cancellation rate as a percentage of gross orders of 30% was nearly even with the third quarter of 2014, and as a percentage of beginning backlog was 20% versus 24% a year ago. The Company's overall average community count for the third quarter increased 30% to 257 from 197 for the year-earlier quarter.
September 23, 2015
15:02 EDTKBHNotable companies reporting before tomorrow's open
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14:41 EDTKBHKB Home volatility elevated into Q3 and outlook
KB Home October call option implied volatility is at 51, November is at 44; compared to its 52-week range of 25 to 53, suggesting large near term price movement into the expected release of Q3 results on September 24.
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