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Stock Market & Financial Investment News

News For PHM;LEN;MDC;TOL;KBH;DHI;NVR;RYL;BZH From The Last 14 Days
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June 19, 2015
14:26 EDTDHI, MDC, RYL, TOL, BZH, LEN, KBH, PHMHomebuilders advance after KB Home reports earnings
Shares of homebuilder stocks are rallying in a down market after group member KB Home (KBH) reported second quarter EPS of 10c on revenue of $623M, beating consensus estimates of 8c and $619M, respectively. Net orders grew 33% to 3,015 in the current quarter, compared to 2,269 in the year-earlier quarter, largely driven by expansion in the company’s average community count. PRICE ACTION: In afternoon trading KB Home is up about 10% to $16.46. Other homebuilder stocks are moving up as well, with DR Horton (DHI) and PulteGroup (PHM) each up about 2% and Lennar (LEN) up 3%.
13:38 EDTKBHOptions with decreasing implied volatility
Options with decreasing implied volatility: QIHU PIR RHT BLUE KMX RAD KBH ADBE ACM KR
12:29 EDTKBHOn The Fly: Top stock stories at midday
Stocks began the session in quiet fashion and trading has remained that way throughout the morning, despite a lack of a resolution in Greece and a steep slide in China's stock market. The averages spent the morning in negative territory, but the losses have been mild and the indexes have drifted in a narrow range. Of note, today is “quadruple witching,” which can create extra volatility toward the close. ECONOMIC EVENTS: In the U.S., no major data was reported. The latest count of U.S. oil and gas rigs by Baker Hughes is scheduled for 1:00 pm EDT. In Europe, the ECB held a call on the provision of Emergency Liquidity Assistance to Greek banks and agreed to raise the limit on the emergency funding for the second time in a week, though there were contradictory reports about the size of the increase. Next, the eurozone's heads of government will meet for an emergency summit to discuss Greece on Monday. In Asia, China's Shanghai Composite index closed the session down 6.4%, bringing the benchmark's weekly loss to 13.3% and sending the index into correction territory. The Bank of Japan kept interest rates unchanged and maintained its asset purchases program, as expected. The central bank also said it will reduce the number of its Monetary Policy Meetings to 8 per year from the current 14 meetings, putting it on par with other major central banks. COMPANY NEWS: Shares of ConAgra (CAG) advanced over 8.5% after activist investor Jana Partners reported that it has acquired a 7.2% stake in the packaged foods company. Jana suggested that the company should undertake a strategic review of its strategy and corporate structure to determine if its businesses are optimally positioned to succeed, as well as various potential alternative transactions and structures. Credit Suisse raised its price target on ConAgra to $42 from $34 following the announcement of Jana Partners' involvement, but the firm said ConAgra's enormous debt load from the Ralcorp acquisition limits upside potential from an all-out break up and doubts the board would consider this option. Deutsche Bank similarly said that the firm's sense is that the company's board is reluctant to break up the company's parts. Nonetheless, Deutsche laid out its "optimistic" sum-of-the-parts analysis, which yields a $47 potential value for the stock. The firm, however, raised its price target for ConAgra shares to only $38 from $36 and kept a Hold rating on the name. MAJOR MOVERS: Among the notable gainers was AirMedia Group (AMCN), which gained 42% after announcing receipt of non-binding "going private" proposal for a group led by its CEO to acquire all of the outstanding shares of AirMedia for $6.00 in cash per American depositary share. Also higher was KB Home (KBH), which gained nearly 10% after the homebuilder reported better than expected results for its fiscal second quarter. Among the noteworthy losers was Healthways (HWAY), which sunk 22% after the health management solutions provider lowered its revenue outlook for fiscal year 2015. Also lower following a guidance cut was Hershey (HSY), which fell 4%. The chocolate maker cited growth in China that was below expectations for its lowered outlook and also announced the implementation of a new productivity initiative that will result in the reduction of approximately 300 jobs by the end of 2015. INDEXES: Near midday, the Dow was down 54.34, or 0.3%, to 18,061.50, the Nasdaq was down 15.23, or 0.3%, to 5,117.72, and the S&P 500 was down 6.64, or 0.31%, to 2,114.60.
11:56 EDTKBHKB Home sees 2015 average community count expansion in 18%-20% range
11:52 EDTKBHKB Home sees Q3 housing revenue $770M-$810M
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11:49 EDTKBHKB Home sees FY housing revenue $2.95B-$3.1B
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11:44 EDTKBHKB Home says Arizona was significant contributor for order growth in region
11:40 EDTKBHKB Home sees gross margins to improve in 2H
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11:36 EDTKBHKB Home says significant revenue growth sets up 2H for profit improvement
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08:33 EDTKBHKB Home 'confident' company can produce 'measurable' y/y earnings growth in 2H
Jeffrey Mezger, president and CEO of KB Home, said, “With the positive momentum we have generated across our business, we ended the second quarter with significantly higher backlog levels in each of our four regions relative to a year ago, providing excellent visibility on our deliveries and revenues for the remainder of the year. We are confident that we have the strategic drivers in place to produce measurable year-over-year earnings growth in the second half of 2015 as we realize higher revenues from our larger operational platform and anticipate generating further sequential margin improvement from our recently opened communities and additional scale as the year progresses.”
08:32 EDTKBHKB Home reports Q2 EPS 10c, consensus 8c
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June 18, 2015
15:27 EDTKBHNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include CarMax (KMX), consensus 86c...KB Home (KBH), consensus 8c.
08:48 EDTLENLennar volatility flat into Q2 and outlook
Lennar July call option implied volatility is at 29, August is at 27, November is at 28; compared to its 52-week range of 23 to 40, suggesting non-directional price movement into the expected release of Q2 results on June 24.
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