New User:

-or-
Username:
Password:
Forgot your password?

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
Check below for free stories on TOL;PHM;WLH;FNMA;FMCC;MDC;HOV;RYL;LEN;DHI;BZH;KBH the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 15, 2014
09:32 EDTBZHBeazer Homes upgraded to Neutral from Sell at Citigroup
Citigroup upgraded Beazer Homes to Neutral based on valuation.
07:44 EDTFNMA, FMCCAckman sues government over Fannie, Freddie, Reuters reports
Subscribe for More Information
August 14, 2014
17:27 EDTRYLAppaloosa gives quarterly update on stakes
Subscribe for More Information
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
Subscribe for More Information
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%.
August 12, 2014
09:20 EDTDHID.R. Horton 13.35M share Block Trade priced at $20.25
Subscribe for More Information
August 7, 2014
08:22 EDTFMCCFreddie Mac repeats recent earnings not sustainable over long term
Subscribe for More Information
08:21 EDTFMCCFreddie Mac reports Q2 net income $1.4B vs. $4.0B in Q1
Reports Q2 comprehensive income $1.9B, compared to $4.5B in Q1. Q2 financial results were primarily driven by credit cycle recovery items, including lower income from legal settlements on private-label securities of $0.4B versus $4.5B in Q1 and a shift to credit provision income of $0.6B from credit provision expense of $0.1B in Q1. Delinquency rates remained below industry benchmarks, with a single-family serious delinquency rate of 2.07% compared to 2.79% at June 30, 2013 and a multifamily delinquency rate of 0.02% in Q2.
07:34 EDTFNMAFannie Mae reports Q2 net income of $3.7B, comprehensive income $3.7B
Reports Q2 revenue $5.29B, one estimate $4.7B; Reports Q2 positive net worth of $6.1B, and expects to pay $3.7B to Treasury in September as a dividend on the senior preferred stock.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use