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Stock Market & Financial Investment News

News Breaks
December 12, 2013
12:25 EDTRYL, DHI, LEN, TOL, MDC, PHM, NVR, BZH, SPF, KBH, HOVHovnanian advances after results beat expectations
Shares of homebuilder Hovnanian (HOV) are climbing after the company reported stronger than expected results, and noted that its backlog had jumped 14%. WHAT'S NEW: Hovnanian earlier today reported fourth quarter earnings per share of 21c, compared with analysts' consensus estimate of 16c. The homebuilder's revenue also surpassed the consensus outlook. Moreover, Hovnanian reported that its contract backlog as of October 31 had jumped 14.3% versus the same period in 2012 to $848.4 million. "Although our sales slowed from July through September due to the adverse impacts of higher mortgage rates, the sequester and the government shutdown, we are happy to report that our sales improved back to prior year levels in October and exceeded last year's levels in November," said Hovnanian CEO Ara Hovnanian. The company's profitability should increase in fiscal 2014, as demand for new homes rises as a result of household formations, the CEO added. On its earnings conference call, the company said that most of its growth in profitability in fiscal 2014 will occur in the second half of the year. Also, the home builder stated that it expects to report a loss for the first quarter of 2014, due to seasonally low delivery volume. PRICE ACTION: In early afternoon trading, Hovnanian advanced 4.4% to $5.20. Other homebuilders were mixed in the down market, with Lennar (LEN) losing 0.7% to $34.80, KB Home (KBH) adding 0.5% to $17.20, Pulte Group (PHM) losing 0.3% to $18, and Ryland Group (RYL) rising 0.8% to $38.30.
News For HOV;KBH;SPF;BZH;NVR;PHM;MDC;TOL;LEN;DHI;RYL From The Last 14 Days
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September 9, 2014
05:43 EDTDHID.R. Horton upgraded to Overweight from Neutral at JPMorgan
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September 5, 2014
09:31 EDTLENLennar initiated with a Buy at BofA/Merrill
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September 4, 2014
16:40 EDTHOVHovnanian CEO says August orders 'particularly strong'
Comment made on CNBC interview.
12:02 EDTHOVHovnanian sees FY14 SG&A, pre-tax income similar to FY13
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11:31 EDTHOVHovnanian sees Q4 gross margin above 20%, but not as high as last year's Q4
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11:28 EDTHOVHovnanian sees FY14 gross margin similar to FY13
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10:29 EDTDHIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AeroVironment (AVAV) upgraded to Buy from Hold at Benchmark Co... D.R. Horton (DHI) upgraded to Buy from Neutral at UBS... IAC (IACI) upgraded to Overweight from Equal Weight at Barclays... Imperial Tobacco (ITYBY) upgraded to Outperform from Underperform at Exane BNP Paribas... Infinity Pharmaceuticals (INFI) upgraded at JMP Securities.
09:19 EDTHOVHovnanian reports Q3 EPS 11c, consensus 9c
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06:25 EDTDHID.R. Horton upgraded to Buy from Neutral at UBS
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September 3, 2014
17:44 EDTTOLToll Brothers looks unattractive, Barron's says
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10:27 EDTHOVHovnanian volatility increases into Q3 and outlook
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06:16 EDTTOLToll Brothers sees FY14 revenue $3.76B-$3.99B, consensus $3.84B
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06:14 EDTTOLToll Brothers sees Q4 home deliveries 1,710-1,910
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05:59 EDTTOLToll Brothers reports Q3 EPS 53c, consensus 45c
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September 2, 2014
15:32 EDTTOLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Toll Brothers (TOL), consensus 45c; Navistar (NAV), consensus (66c); G-III Apparel (GIII), consensus 16c; Vince Holding (VNCE), consensus 24c; Dorian LPG (LPG), consensus 1c.
14:45 EDTTOLToll Brothers September weekly volatility increases into Q3
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14:16 EDTTOLToll Brothers technical comments before earnings
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10:02 EDTPHMOn The Fly: Analyst Downgrade Summary
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08:27 EDTPHMPulteGroup downgraded to Market Perform from Outperform at FBR Capital
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05:40 EDTPHMPulteGroup downgraded to Market Perform from Outperform at FBR Capital
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