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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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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 12, 2014
16:22 EDTFNMA, FMCCHSBC confirms settlement agreement with FHFA
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13:27 EDTFNMA, FMCCHSBC pays $600M to resolve FHFA mortgage bond allegations, WSJ says
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September 9, 2014
14:56 EDTLENLennar volatility flat into Q3 and revenue outlook
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10:25 EDTBZH, MDC, PHM, RYL, TOL, LEN, DHI, KBH, HOVGundlach sees homebuilder stocks continuing to disappoint
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10:10 EDTMDCOn the Fly: Analyst Downgrade Summary
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10:10 EDTPHM, DHI, 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.
05:46 EDTMDCM.D.C. Holdings downgraded to Underweight from Neutral at JPMorgan
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05:44 EDTLENLennar upgraded to Overweight from Neutral at JPMorgan
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05:43 EDTDHID.R. Horton upgraded to Overweight from Neutral at JPMorgan
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September 5, 2014
09:31 EDTLENLennar initiated with a Buy at BofA/Merrill
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September 4, 2014
16:40 EDTHOVHovnanian CEO says August orders 'particularly strong'
Comment made on CNBC interview.
12:02 EDTHOVHovnanian sees FY14 SG&A, pre-tax income similar to FY13
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11:31 EDTHOVHovnanian sees Q4 gross margin above 20%, but not as high as last year's Q4
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11:28 EDTHOVHovnanian sees FY14 gross margin similar to FY13
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10:29 EDTDHIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AeroVironment (AVAV) upgraded to Buy from Hold at Benchmark Co... D.R. Horton (DHI) upgraded to Buy from Neutral at UBS... IAC (IACI) upgraded to Overweight from Equal Weight at Barclays... Imperial Tobacco (ITYBY) upgraded to Outperform from Underperform at Exane BNP Paribas... Infinity Pharmaceuticals (INFI) upgraded at JMP Securities.
09:19 EDTHOVHovnanian reports Q3 EPS 11c, consensus 9c
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06:25 EDTDHID.R. Horton upgraded to Buy from Neutral at UBS
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