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Stock Market & Financial Investment News

News Breaks
August 25, 2014
07:04 EDTPHMPulteGroup acquires Dominion Homes real estate assets
PulteGroup announced that it has acquired the real estate assets of Dominion Homes. Financial terms for the transaction were not disclosed. The acquired Dominion assets, which serve entry-level and move-up buyers, include 27 open communities in Columbus, 11 open communities in Louisville and three open communities in Lexington. The company said, "We expect this transaction to be accretive to earnings and overall returns on invested capital, while recording little, if any, goodwill."
News For PHM From The Last 14 Days
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April 9, 2015
10:00 EDTPHMOn The Fly: Analyst Downgrade Summary
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06:49 EDTPHMPulteGroup, Meritage cut to sell at JPMorgan on profit taking call
JPMorgan downgraded both PulteGroup (PHM) and Meritage Homes (MTH) to Underweight from Neutral saying the homebuilders are vulnerable to a pullback over the next six months following their strong year-to-date performance. Underweight is JPMorgan’s equivalent to a sell rating. The firm recommends taking some profits in the sector ahead the Q1 earnings reports amid what it sees as "overly positive" investor sentiment. It thinks homebuilders are "highly unlikely" to raise their 2015 gross margin guidance on the Q1 earnings calls. JPMorgan keeps a $21 price target on shares of PulteGroup and dropped its target for Meritage Homes to $38 from $43. Its only Overweight rated name in the space is Ryland Group (RYL).
06:24 EDTPHMPulteGroup downgraded to Underweight from Neutral at JPMorgan
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