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Stock Market & Financial Investment News

News Breaks
March 20, 2014
13:42 EDTMDC, DHI, KBH, BZH, RYL, HOV, LENLennar 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
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December 12, 2014
10:01 EDTHOVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BreitBurn Energy (BBEP) downgraded to Hold from Buy at Wunderlich... CIBC (CM) downgraded to Underperform from Neutral at Credit Suisse... Costco (COST) downgraded to Neutral from Buy at Janney Capital... Discovery (DISCA) downgraded to Sector Perform from Outperform at RBC Capital... Emerald Oil (EOX) downgraded to Neutral from Accumulate at Global Hunter... Goodrich Petroleum (GDP) cut to Underweight on lower oil at JPMorgan... Hain Celestial (HAIN) downgraded to Sector Perform from Outperform at RBC Capital... Hovnanian (HOV) downgraded to Neutral from Buy at Compass Point... Mindray Medical (MR) downgraded to Underweight from Equal Weight at Morgan Stanley... Morgan Stanley (MS) downgraded to Neutral from Buy at Buckingham... Oracle (ORCL) resumed with a Neutral from Overweight at Piper Jaffray... Rackspace (RAX) downgraded to Underperform from Neutral at DA Davidson... Zayo Group (ZAYO) downgraded to Neutral from Buy at BTIG.
07:54 EDTHOVHovnanian downgraded to Neutral from Buy at Compass Point
December 10, 2014
09:27 EDTHOVHovnanian reports Q4 EPS $1.95, may not compare to consensus 21c
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December 9, 2014
15:18 EDTHOVNotable companies reporting before tomorrow's open
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