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Stock Market & Financial Investment News

News Breaks
February 25, 2014
14:32 EDTTOLToll Brothers says to date in Q2, contracts in units down about 8%
Management said, "Through the first three and-a-half weeks of our second quarter, our contracts in units were down about 8%. During this time, traffic has actually been up about 8% per community, which is encouraging, especially given the weather in many of our markets." They noted that demand has leveled more recently against some very strong prior year comparisons. Despite that, they remain optimistic on the spring selling season based on solid affordability, attractive interest rates, and growing pent-up demand. They continue to be encouraged by the strength of the coastal California markets. They expect growth in California as well as significant expansion in Texas to further diversify the company and spur growth as they move forward. For FY14, the company expects a 175bps-200bps improvement in gross margin over FY13 levels, with the most significant improvements occurring in Q3 and Q4. Full year 2014, SG&A is still anticipated to be up 25% over full year 2013. Comments from company's Q1 earnings conference call.
News For TOL From The Last 14 Days
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July 2, 2015
12:37 EDTTOLToll Brothers management to meet with MKM Partners
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June 19, 2015
14:26 EDTTOLHomebuilders 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%.

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