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Stock Market & Financial Investment News

News Breaks
March 20, 2014
13:42 EDTLEN, BZH, DHI, HOV, KBH, MDC, RYLLennar drops despite reporting 'excellent' land positions through FY15
Shares of homebuilding company Lennar (LEN) are dropping slightly after the company reported better-than-expected first quarter earnings per share and revenue, along with guidance of "excellent" land positions through FY15. WHAT'S NEW: Lennar reported Q1 EPS of 35c, which was well above analysts' consensus of 28c, but included a $45.9M tax provision. The company reported Q1 revenues of $1.36B, above analysts' consensus of $1.28B, and noted that Q1 home deliveries were up 13%. Lennar reported Q1 new orders were up 10% and its Q1-end backlog was up 15%. The company's CEO, Stuart Miller, said that Lennar is "well positioned to capitalize on the recovering market" and believes the housing market is still in the early stages of overall recovery. WHAT'S NOTABLE: During the company's Q1 earnings conference call, Lennar said it is maintaining its goal to deliver between 21K-22K homes for FY14. It said that there has been "clear signs" in Q1 that volume is returning to the market even as severe weather made conditions difficult. The company noted that inventories are likely to remain constrained, but it believes that all of its business segments are well positioned for the future. The company expects that cost will continue to increase in some of the material, most notably drywall, lumber and siding which will begin to impact Q2 deliveries. Lennar anticipates that construction of development pipeline will be completed over the next four years. PRICE ACTION: During afternoon trading, shares of Lennar fell by $1.09, or 2.64%, to $40.25. OTHERS TO WATCH: Other publicly traded homebuilders include Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV), KB Home (KBH), M.D.C. Holdings (MDC), and Ryland Group (RYL).
News For LEN;BZH;DHI;HOV;KBH;MDC;RYL From The Last 14 Days
Check below for free stories on LEN;BZH;DHI;HOV;KBH;MDC;RYL the last two weeks.
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July 25, 2014
10:02 EDTDHIOn The Fly: Analyst Downgrade Summary
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08:46 EDTDHID.R. Horton downgraded at MKM Partners
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07:38 EDTDHID.R. Horton downgraded to Neutral from Buy at MKM Partners
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06:22 EDTDHID.R. Horton downgraded to Neutral from Buy at MKM Partners
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July 24, 2014
17:05 EDTDHIOn The Fly: Closing Wrap
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12:32 EDTDHIOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday amid another wave of earnings reports, headlined by Facebook (FB), Caterpillar (CAT), General Motors (GM) and Ford (F). The market has moved in a narrow range as investors try to digest the bevy of earnings reports that were released last night and this morning. The market has also had to battle a negative economic report on new home sales, which not only disappointed in June but saw the prior month revised lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook achieved a new all-time high and its share price eclipsed $76, a level that was more than double the price of its initial public offering, after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors declined more than 3% after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." In contrast, Ford reported earnings per share, excluding special items, and revenue that beat expectations and its stock rose 1%... Caterpillar dropped over 3% after its quarterly revenue missed expectations and it narrowed its outlook for full-year revenue. However, the heavy machine maker's earnings did beat the consensus forecast and it raised it fiscal year profit outlook. MAJOR MOVERS: Among the notable gainers was Sodastream (SODA), which jumped nearly 20% after Bloomberg said the home beverage system maker is in talks with an investment firm on deal that would make it a private company and value it at about $828M, or $40 per share. Also higher following their earnings reports were Under Armour (UA), which rose 15%, and Dr. Pepper Snapple (DPS), which gained 5%. Among the noteworthy losers following their earnings reports were homebuilder DR Horton (DHI), which fell 10%, online travel company TripAdvisor (TRIP), which dropped 9%, and semiconductor chip maker Qualcomm (QCOM), which slid 6%. Also lower was review service operator Angie's List (ANGI), which plunged 19% after reporting second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. INDEXES: Near midday, the Dow was up 8.25, or 0.05%, to 17,094.88, the Nasdaq was up 6.10, or 0.14%, to 4,479.80, and the S&P 500 was up 2.98, or 0.15%, to 1,989.99.
11:00 EDTDHID.R. Horton sees returns on investment increasing quarter over quarter
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10:54 EDTDHID.R. Horton doesn't expect to have to increase incentives
10:49 EDTDHID.R. Horton says biggest headwind for housing is weak job growth
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10:48 EDTDHID.R. Horton Q3 home sales gross margin 20.7% vs. 21.4% in prior year quarter
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10:19 EDTDHID.R. Horton falls after results, levels to watch
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07:20 EDTDHID.R. Horton reports Q3 net sales orders increased 25% to 8,551 homes
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07:15 EDTDHID.R. Horton sees 'strong finish to fiscal year'
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07:13 EDTDHID.R. Horton increases quarterly dividend by 67% to 6.25c
The company has declared a quarterly cash dividend of 6.25c per common share, an increase of 67% compared to its most recent dividend paid. The dividend is payable on August 18 to stockholders of record on August 8.
07:10 EDTDHID.R. Horton reports Q2 EPS 32c, consensus 49c
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July 21, 2014
13:26 EDTHOVHovnanian target liquidity range $170M-$245M
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July 18, 2014
16:34 EDTKBHKB Home files automatic mixed securities shelf
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10:48 EDTBZHHigh option volume stocks
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July 16, 2014
11:29 EDTLENLennar management to meet with ISI Group
Meeting to be held in San Francisco on July 23 hosted by ISI Group.
11:25 EDTHOVHovnanian management to meet with Global Hunter
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