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Stock Market & Financial Investment News

News Breaks
March 19, 2014
10:17 EDTHOV, LEN, TOL, PHM, WLH, RYLHomebuilders rebound after KB Home results beat expectations
Shares of homebuilders are rising in today's down market after one of the companies in the sector, KB Home (KBH), reported stronger than expected results. WHAT'S NEW: KB Home reported first quarter earnings per share of 12c, compared with analysts' consensus estimate of 8c. The company's revenue was also higher than expected. KB's homebuilding operating income jumped to $17.7M, versus $500K in the same period a year earlier. The average selling price of the company's homes jumped 12% year-over-year, and the net value of its orders rose 18%. KB's housing gross profit margin increased to 17.7%, up from 14.8% in the same period a year earlier. WHAT'S NOTABLE: KB Home's stronger than expected results come after some recent negative news for the sector. On February 25, homebuilder Toll Brothers said that its contracts for units had dropped about 8% in the first three and a half weeks of its second quarter. The company also reduced the high end of its fiscal 2014 home delivery guidance. On March 12, Credit Suisse downgraded its rating on Toll Brothers (TOL), along with peers Pulte Group (PHM) and William Lyon Homes (WLH). The spring selling season looks set to be "underwhelming," the firm warned. PRICE ACTION: In early trading, Lennar rose 4% to $42.20, Ryland (RYL) advanced 2.8% to $42.55, Hovnanian (HOV) added 3% to $5.10, PulteGroup gained 3% to $20.05, William Lyon added 1.5% to $29.80, and KB Home rose 9% to $19.25.
News For LEN;RYL;PHM;HOV;WLH;TOL From The Last 14 Days
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March 25, 2015
08:05 EDTHOVHovnanian management to meet with Deutsche Bank
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March 20, 2015
07:47 EDTTOLToll Brothers management to meet with Deutsche Bank
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March 19, 2015
14:55 EDTRYLRyland Group management to meet with Sterne Agee
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11:52 EDTLENLennar says "enthusiastic" about prospects for Rialto
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11:23 EDTLENLennar sees strong top, bottom line growth for 2015
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11:22 EDTLENLennar says still on track to deliver 23,500-24,000 homes for 2015
Still expects apartment unit to be profitable for FY. Says still on track to deliver 23,500-24,000 homes for 2015. Severe weather conditions has delayed some construction activities, will slightly reduce backlog conversion ratio. Still expects gross margins for FY to average 24%, Q4 highest gross margin percent for year. Says increasing goal for financial services for FY due to strong refinance environment, now expects to earn $95M-$100M for FY. Sees FY range of profits for Rialto $30M-$40M for FY, heavily weighted to Q4. Sees FY15 effective tax rate in mid-34% range. Says active community count on track to hit 675 by end of 2015.
11:10 EDTLENLennar says housing market continuing slow, steady recovery
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07:36 EDTTOLToll Brothers management to meet with Deutsche Bank
Meeting to be held in Frankfurt on March 19 hosted by Deutsche Bank.
06:03 EDTLENLennar reports Q1 EPS 50c, consensus 45c
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March 18, 2015
15:20 EDTLENNotable companies reporting before tomorrow's open
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13:13 EDTLENLennar March volatility elevated into Q1 and outlook
Lennar March call option implied volatility is at 84, April is at 33, May is at 28; compared to its 26-week average of 31 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on March 19.
07:39 EDTTOLToll Brothers management to meet with Deutsche Bank
Meetings to be held in Geneva/Zurich on March 18 hosted by Deutsche Bank.
March 13, 2015
13:46 EDTLENLennar March volatility elevated into Q1 and outlook
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