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Stock Market & Financial Investment News

News Breaks
December 12, 2013
12:25 EDTNVR, DHI, MDC, BZH, LEN, PHM, RYL, TOL, KBH, HOV, SPFHovnanian 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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January 27, 2015
15:35 EDTMDCNotable companies reporting before tomorrow's open
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10:00 EDTDHIOn the Fly: Analyst Downgrade Summary
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06:01 EDTDHID.R. Horton downgraded to Neutral from Buy at Citigroup
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January 26, 2015
16:39 EDTDHIOn The Fly: Closing Wrap
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10:52 EDTDHID.R. Horton says January sales pace 'meeting expectations'
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10:50 EDTDHID.R. Horton sees land costs increasing in 2015
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10:40 EDTDHID.R. Horton says expects to be breakeven on cash flow in 2015
Says expects cash flow in 2016 to be "solid," "positive." Says always looking at debt levels. Sees incentive levels similar to last spring. Sees flat average sales price for the year.
10:27 EDTDHID.R. Horton sees gross margins 19%-21% for 2015
Sees gross margins 19%-21% for 2015. Sees double digit growth in gross profits. Says to take conservative approach to Texas land. Comments made on the Q1 earnings conference call. D.R. Horton is up 7.19% in morning trading to $24.80.
09:19 EDTDHIOn The Fly: Pre-market Movers
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09:05 EDTNVRNVR reports Q4 Homebuilding orders up 3% to 2,713
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09:05 EDTNVRNVR reports Q4 EPS $23.24, consensus $24.16
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07:03 EDTDHID.R. Horton weekly sales pace accelerated in January
"Our weekly sales pace has accelerated in January, and we are well-positioned to capture demand in the spring selling season with our solid balance sheet and robust community count, finished lot supply and inventory of homes available for sale. We also continue to be pleased with the progress and performance of the rollouts of our Express Homes and Emerald Homes brands. We remain intently focused on growing revenues and profits at a double-digit pace, while generating improved returns and cash flows," Donald Horton, Chairman of the Board, said.
07:02 EDTDHID.R. Horton reports Q1 EPS 39c, consensus 34c
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January 23, 2015
13:59 EDTRYLRyland Group files automatic mixed securities shelf
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08:54 EDTRYLCitadel Advisors reports 5% passive stake in Ryland Group
January 20, 2015
09:20 EDTHOVHovnanian downgraded to Underperform from Market Perform at JMP Securities
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08:16 EDTPHMPulteGroup downgraded to Neutral from Buy at Buckingham
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07:11 EDTRYLRyland Group downgraded to Underperform from Neutral at Credit Suisse
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07:11 EDTPHMPulteGroup downgraded to Underperform from Neutral at Credit Suisse
Price target lowered to $19 from $20.
07:11 EDTNVRNVR upgraded to Neutral from Underperform at Credit Suisse
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