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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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September 17, 2014
12:22 EDTLENOn The Fly: Midday Wrap
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11:43 EDTLENLennar sees Q4 gross margins 25%
Says has $5B apartment pipeline. Says sees 600-625 communities at end of year. Still sees 2,100-2,200 homes for 2014. Says doesn't expect to sell more apartments this year. Says "deep in the midst" of investment cycle. Says would consider dividends, buybacks, will keep investing capital for "a couple of years."
11:18 EDTLENLennar says slow housing recovery 'healthy' for company
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07:04 EDTWLHWilliam Lyon Homes files $600M mixed securities shelf
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06:07 EDTLENLennar reports Q3 EPS 78c, consensus 67c
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September 16, 2014
15:14 EDTLENNotable companies reporting before tomorrow's open
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14:49 EDTLENLennar September 39 straddle priced for 4.3% move into Q3
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September 15, 2014
14:18 EDTPHMPulteGroup names Manish Shrivastava as Chief Marketing Officer
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09:43 EDTLENCitadel Advisors reports 5.4% passive stake in Lennar
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September 9, 2014
14:56 EDTLENLennar volatility flat into Q3 and revenue outlook
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10:25 EDTTOL, RYL, PHM, HOV, LENGundlach sees homebuilder stocks continuing to disappoint
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10:10 EDTPHM, LENOn the Fly: Analyst Upgrade Summary
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05:46 EDTPHMPulteGroup upgraded to Neutral from Underweight at JPMorgan
JPMorgan upgraded PulteGroup to Neutral citing valuation and raised its price target for shares to $22 from $19.
05:44 EDTLENLennar upgraded to Overweight from Neutral at JPMorgan
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