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Stock Market & Financial Investment News

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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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October 23, 2014
06:43 EDTPHMPulteGroup reports Q3 EPS 37c, consensus 36c
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06:41 EDTPHMPulteGroup increases share repurchase authorization by $750M
PulteGroup also announced that its board approved a share repurchase authorization of $750M. At the end of Q3, the company had $85M available under its existing repurchase authorization.
06:40 EDTPHMPulteGroup raises quarterly dividend by 60% to 8c per share
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October 22, 2014
15:37 EDTPHMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
10:09 EDTHOVOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AOL (AOL) upgraded to Buy from Hold at Evercore... ARM Holdings (ARMH) upgraded to Buy from Neutral at UBS... American Assets Trust (AAT) upgraded to Buy from Hold at MLV & Co.... American Midstream Partners (AMID) upgraded to Buy from Neutral at Ladenburg... BancorpSouth (BXS) upgraded to Neutral from Underweight at JPMorgan... Chesapeake (CHK) upgraded at UBS... Chuy's (CHUY) upgraded to Buy from Hold at Stifel... Dean Foods (DF) upgraded to Overweight from Equal Weight at Morgan Stanley... East West Bancorp (EWBC) upgraded at BMO Capital... El Paso Electric (EE) upgraded to Buy from Neutral at Ladenburg... Generac (GNRC) upgraded to Buy from Hold at KeyBanc... Gold Fields (GFI) upgraded to Overweight from Neutral at HSBC... Harmony Gold (HMY) upgraded to Neutral from Underweight at HSBC... Hess Corp. (HES) upgraded to Buy from Neutral at UBS... Hovnanian (HOV) upgraded to Market Perform from Underperform at JMP Securities... Intuitive Surgical (ISRG) upgraded to Buy from Neutral at BTIG... OMV AG (OMVKY) upgraded to Neutral from Underperform at Credit Suisse... Seaspan (SSW) upgraded to Neutral from Underperform at Credit Suisse... Sibanye Gold (SBGL) upgraded to Neutral from Underweight at HSBC... Smith & Nephew (SNN) upgraded to Overweight from Equal Weight at Barclays... Southwestern Energy (SWN) upgraded to Buy from Hold at Maxim... Steel Dynamics (STLD) upgraded to Outperform from Neutral at Macquarie... Steris (STE) upgraded to Strong Buy from Market Perform at Raymond James... Tesoro Logistics (TLLP) upgraded to Strong Buy from Outperform at Raymond James... Texas Instruments (TXN) upgraded to Outperform from Market Perform at Bernstein... Twitter (TWTR) upgraded to Hold from Sell at Hudson Square... Vanguard Natural (VNR) upgraded to Buy from Hold at Wunderlich... Volaris (VLRS) upgraded to Buy from Hold at Deutsche Bank... Wilshire Bancorp (WIBC) upgraded to Outperform from Neutral at Macquarie... Yahoo (YHOO) upgraded to Outperform from Market Perform at FBR Capital.
06:01 EDTHOVHovnanian upgraded to Market Perform from Underperform at JMP Securities
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October 21, 2014
10:00 EDTNVROn The Fly: Analyst Upgrade Summary
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07:38 EDTNVRNVR upgraded to Hold from Sell at ISI Group
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October 20, 2014
09:02 EDTNVRNVR reports Q3 Homebuilding new orders up 23% to 2,936 units
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09:02 EDTNVRNVR reports Q3 EPS $20.70, consensus $20.48
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07:51 EDTPHMPulteGroup initiated with a Buy at Buckingham
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07:51 EDTLENLennar initiated with a Buy at Buckingham
Target $50.
07:51 EDTTOLToll Brothers initiated with a Neutral at Buckingham
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07:51 EDTKBHKB Home initiated with a Buy at Buckingham
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07:50 EDTDHID.R. Horton initiated with a Neutral at Buckingham
Target $23.
October 13, 2014
10:08 EDTKBH, DHIOn The Fly: Analyst Upgrade Summary
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08:52 EDTDHIUS Building Products & Homebuilding sector lowered at Barclays
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07:11 EDTHOVHovnanian upgraded to Buy from Neutral at Compass Point
Compass Point upgraded Hovnanian to Buy given recent underperformance and history of outperformance when the sector bounces. Price target remains $4.50.
07:11 EDTDHID.R. Horton upgraded to Buy from Neutral at Compass Point
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07:11 EDTKBHKB Home upgraded to Neutral from Sell at Compass Point
Compass Point upgraded KB Home to Neutral citing relative valuation and focus on lower price points. Price target raised to $15.50 from $13.50.
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