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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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August 14, 2014
17:27 EDTRYLAppaloosa gives quarterly update on stakes
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07:43 EDTPHMPulteGroup thesis remains intact, says UBS
UBS said they are increasingly confident in their long term thesis on PulteGroup following meetings with management. The firm noted the company's limited inventory, a loosening in underwriting, and low supply in the Midwest market where there is limited competition for Pulte. UBS has a Buy rating with a price target of $25 on shares of PulteGroup.
07:16 EDTWLHWilliam Lyon Homes resumed with an Overweight at JPMorgan
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August 13, 2014
08:33 EDTWLHWilliam Lyon Homes reports Q2 EPS 38c, consensus 34c
Reports Q2 revenue $179.8M, consensus $177.75M. Net new home orders for Q2 were 388. Reports new home deliveries of 336 homes, up 43%.

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