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Stock Market & Financial Investment News

News Breaks
March 12, 2014
10:16 EDTTOL, BZH, DHI, LEN, RYL, HOV, MDC, FMCC, FNMA, WLH, PHM, KBHHomebuilders fall following Credit Suisse downgrades
Shares of a number of homebuilders are sinking after Credit Suisse downgraded three companies in the sector, saying that the spring selling season looks set to be "underwheliming." WHAT'S NEW: Credit Suisse analyst Daniel Oppenheim wrote that the firm's survey of real estate agents last month indicates that demand for housing was weak. Buyer traffic fell compared with January and February 2013, the analyst stated. Homebuilders' gross margins are likely to drop in the first half of 2014 and their stocks generally reflect optimistic outlooks, added the analyst. As a result, he downgraded three names in the sector - Toll Brothers (TOL), PulteGroup (PHM), and William Lyon Homes (WLH) - to Neutral from Outperform. Oppenheim expects the companies' orders and gross margins to rise this year, but he predicts that the sector's margins will inch down slightly next year. WHAT'S NOTABLE: Also possibly weighing on the sector is news that two key senators have reached a deal to wind down and eliminate Fannie Mae (FNMA) and Freddie Mac (FMCC), which buy mortgages from lenders. The top Democrat and the top Republican on the Senate Banking Committee yesterday said they had agreed on a plan to dismantle the two companies and replace them with a system that would force the private sector to shoulder more of the risk of mortgages. PRICE ACTION: In early trading, Toll Brothers fell 3% to $36.85, PulteGroup dropped 2.7% to $19.40, and William Lyon retreated 3% to $29. OTHERS TO WATCH: Other publicly traded homebuilders include Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV), KB Home (KBH), Lennar (LEN), M.D.C. Holdings (MDC), and Ryland Group (RYL).
News For TOL;PHM;WLH;FNMA;FMCC;MDC;HOV;RYL;LEN;DHI;BZH;KBH From The Last 14 Days
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October 20, 2014
07:51 EDTKBHKB Home initiated with a Buy at Buckingham
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07:50 EDTDHID.R. Horton initiated with a Neutral at Buckingham
Target $23.
October 19, 2014
16:17 EDTFMCC, FNMAFannie Mae, Freddie Mac near deal to loosen lending, WSJ says
Fannie Mae (FNMA), Freddie Mac (FMCC) together with mortgage lenders are near to an arrangement that would lower barriers and lending standards on home buyers with weak credit, says the Wall Street Journal. Reference Link
October 17, 2014
12:26 EDTFNMA, FMCCFannie Mae, Freddie Mac close to deal to boost mortgage lending, WSJ reports
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October 16, 2014
07:03 EDTFMCCThe FDIC to hold a symposium
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October 13, 2014
10:08 EDTDHI, KBHOn The Fly: Analyst Upgrade Summary
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08:52 EDTDHIUS Building Products & Homebuilding sector lowered at Barclays
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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.
07:11 EDTDHID.R. Horton upgraded to Buy from Neutral at Compass Point
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07:11 EDTKBHKB Home upgraded to Neutral from Sell at Compass Point
Compass Point upgraded KB Home to Neutral citing relative valuation and focus on lower price points. Price target raised to $15.50 from $13.50.
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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09:30 EDTKBHKB Home upgraded to Outperform from Sector Perform at FBN Securities
FBN Securities upgraded KB Home to Outperform based on relative valuation and increased balance sheet leverage.
09:28 EDTPHMPulteGroup upgraded to Sector Perform from Underperform at FBN Securities
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08:07 EDTFNMA, FMCCFairholme Funds files notice of appeal of Fannie/Freddie court ruling
Fairholme Funds filed a notice of appeal in the U.S. Court of Appeals for the District of Columbia of a ruling by District Court Judge Royce Lamberth that dismissed lawsuits filed by Fairholme and other plaintiffs against the U.S. Government. The lawsuits relate to the Fannie Mae (FNMA) / Freddie Mac (FMCC) Preferred Stock Purchase Agreement and subsequent amendments. Fairholme issued the following statement via its legal counsel, Charles J. Cooper of Cooper & Kirk, PLLC: “Fairholme believes strongly that the Net Worth Sweep – imposed four years after the financial crisis – was not authorized by the Housing and Economic Recovery Act of 2008 and must be unwound. Fairholme also believes strongly that the Federal Housing Finance Agency has contractual and fiduciary duties to the preferred shareholders of Fannie Mae and Freddie Mac, and that these duties can and will be enforced.”
05:57 EDTFNMA, FMCCAckman added to Fannie, Freddie stakes, NY Post reports
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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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