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Stock Market & Financial Investment News

News Breaks
March 19, 2014
10:17 EDTLEN, RYL, PHM, HOV, WLH, TOLHomebuilders 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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October 20, 2014
07:51 EDTPHMPulteGroup initiated with a Buy at Buckingham
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07:51 EDTLENLennar initiated with a Buy at Buckingham
Target $50.
07:51 EDTTOLToll Brothers initiated with a Neutral at Buckingham
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October 13, 2014
07:11 EDTHOVHovnanian upgraded to Buy from Neutral at Compass Point
Compass Point upgraded Hovnanian to Buy given recent underperformance and history of outperformance when the sector bounces. Price target remains $4.50.
October 10, 2014
10:22 EDTLENLennar management to meet with JPMorgan
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10:01 EDTPHMOn The Fly: Analyst Upgrade Summary
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09:31 EDTHOVHovnanian upgraded to Sector Perform from Underperform at FBN Securities
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09:28 EDTPHMPulteGroup upgraded to Sector Perform from Underperform at FBN Securities
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October 8, 2014
10:00 EDTRYLOn The Fly: Analyst Downgrade Summary
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07:54 EDTRYLRyland Group downgraded at KeyBanc
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05:53 EDTRYLRyland Group downgraded to Underweight from Hold at KeyBanc
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