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Stock Market & Financial Investment News

News Breaks
December 12, 2013
12:25 EDTLEN, PHM, RYL, TOL, NVR, DHI, MDC, 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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August 3, 2015
11:01 EDTSPF, RYLRyland Group, Standard Pacific to become CalAtlantic Group following merger
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July 30, 2015
16:24 EDTSPFStandard Pacific reports Q2 backlog $1.5B, up 30% from Q2 of FY14
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16:23 EDTSPFStandard Pacific reports Q2 EPS 14c, consensus 14c
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08:13 EDTSPF, RYLRyland Group sees Standard Pacific deal closing in early fall
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08:12 EDTRYLRyland Group reports Q2 EPS 75c, consensus 72c
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July 28, 2015
10:28 EDTDHID.R. Horton says housing getting better
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10:24 EDTDHID.R. Horton sees 2016 revenue growth driven by volume, price
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10:20 EDTDHID.R. Horton sees FY16 consolidated revenue up 10%-15%
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10:20 EDTDHID.R. Horton says sales trends 'solid' in July
Sees Q4 backlog conversion rate 81%-84%. Sees Q4 home sales gross margin in high 19%-20% range. Sees Q4 homebuilding SG&A 8.7%-8.9% of homebuilding revenues. Says sales trends "solid" in July. Sees Q4 Financial Services operating margin 35%-40%. Sees Q4 tax rate 35%-36%. Sees Q4 average selling price $285,000-$290,000. Comments made on the Q3 earnings conference call. D.R. Horton is down 0.52% to $26.60 in morning trading.
07:05 EDTDHID.R. Horton says well-positioned to finish FY strong, have even stronger FY16
07:05 EDTDHID.R. Horton reports Q3 EPS 60c, consensus 50c
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July 27, 2015
10:13 EDTPHMHigh option volume stocks
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July 23, 2015
06:35 EDTPHMPulteGroup reports Q2 EPS 28c, consensus 26c
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July 22, 2015
15:26 EDTPHMNotable companies reporting before tomorrow's open
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July 21, 2015
09:05 EDTNVRNVR reports Q2 new homebuilding order up 11%
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09:02 EDTNVRNVR reports Q2 EPS $21.91, consensus $19.09
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