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(BZH) Stock Market News for December 30, 2011 – Market News

vitalstocks — Tue, 03 Jan 2012 19:25:28 +0000

Better housing data and a drop in four-week moving average of initial claims joined hands to guide the benchmarks higher yesterday, providing investors another hope that S&P 500 might just end 2011 on a positive note. With yesterday’s gains, the Dow washed out the losses it suffered on Wednesday and sits comfortably in the green [...]

(BZH) Stock Market News for December 30, 2011 – Market News

(TOL) Toll Brothers Takes Over CamWest

vitalstocks — Wed, 23 Nov 2011 17:25:54 +0000

Toll Brothers Inc. (TOL) recently announced that it has acquired CamWest Development LLC. The company did not disclose the financial terms of the deal but stated that it will start reaping benefits from the acquisition in the upcoming year. CamWest is considered as one of the largest privately held home building companies in the Pacific [...]

(TOL) Toll Brothers Takes Over CamWest

(DHI) U.S. Housing Starts Slip Less Than Expected

vitalstocks — Mon, 21 Nov 2011 18:47:24 +0000

We got some fairly good news on the housing front this morning. Housing Starts fell in September to a seasonally-adjusted annual rate of 628,000 from 630,000 in August, a drop of 0.3%. But the number was much better than the expected level of 603,000. However, the September numbers were revised sharply lower from 658,000. Thus [...]

(DHI) U.S. Housing Starts Slip Less Than Expected

(DHI) Weakness Prevails in U.S. Housing

vitalstocks — Thu, 06 Oct 2011 16:12:09 +0000

The weaknesses prevailing in the housing and construction industry in the U.S. have once again come to the fore as the National Association of Home Builders lowered its September outlook. Poor employment growth, increased availability of foreclosed homes, strict mortgage lending rules and lower confidence have restricted the demand for new homes to an all-time [...]

(DHI) Weakness Prevails in U.S. Housing

(DHI) U.S. New Home Sales Move Down Slightly

vitalstocks — Tue, 27 Sep 2011 20:47:43 +0000

New Home Sales in August fell by 2.3% from July to a rate of 295,000. Relative to a year ago, sales are up 6.1%. While the year-over-year rebound is more than welcome, it is still a very dismal rate of new home sales. However, there was an upward revision to the July numbers of 4,000 [...]

(DHI) U.S. New Home Sales Move Down Slightly

(DHI) U.S. Housing Starts Down – Permits Up

vitalstocks — Wed, 21 Sep 2011 14:58:49 +0000

Housing Starts fell in August to a seasonally adjusted annual rate of 571,000 from 601,000 in July, a decrease of 5.0%. However, the July numbers were revised lower from 604,000, so it is possible to see the decrease as 34,000, or 5.5%. The number was also slightly below the expected level of 575,000. Relative to [...]

(DHI) U.S. Housing Starts Down – Permits Up

(TOL) Toll Brothers Misses Profit Estimate

vitalstocks — Fri, 26 Aug 2011 22:28:24 +0000

Toll Brothers Inc. (TOL) reported a net income of $42.1 million or 25 cents per share during the third quarter of fiscal 2011 compared with a net income of $27.3 million or 16 cents per share in the year-ago quarter. Reported income in the 2011 quarter included a tax benefit of $38.2 million and that [...]

(TOL) Toll Brothers Misses Profit Estimate

(DHI) U.S. New Home Sales Still Awful

vitalstocks — Mon, 01 Aug 2011 04:08:14 +0000

New Home Sales in May fell by 1.0% from May, to a rate of 312,000. Relative to a year ago, sales are up 1.6%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. Also, there was a downward revision to the May numbers of 4,000 to [...]

(DHI) U.S. New Home Sales Still Awful

(DHI) U.S. Housing Starts and Building Permits Rise

vitalstocks — Wed, 20 Jul 2011 15:30:20 +0000

Housing Starts rose in June to a seasonally-adjusted annual rate of 629,000 from 549,000 in May, an increase of 14.6%. However, the May numbers were revised lower from 560,000, so it is possible to see the increase as 69,000, or 12.3%. Relative to a year ago they are up 11.8%. Quite frankly, a year ago [...]

(DHI) U.S. Housing Starts and Building Permits Rise

(LEN) Lennar Buys Distressed Debt

vitalstocks — Fri, 08 Jul 2011 20:47:26 +0000

Lennar Corp. (LEN) recently acquired the distressed debt on the Century Grand project in Doral through one of its affiliates named Flordade LLC. State. The mortgaged property, which was purchased for an undisclosed sum, spans almost 153 acres of the Century Grand project. Before the purchase, the project was handled by homebuilder Sergio Pino with [...]

(LEN) Lennar Buys Distressed Debt

(KBH) KB Home’s Loss Widens

vitalstocks — Wed, 29 Jun 2011 20:44:50 +0000

KB Home (KBH) reported a net loss of $68.5 million or 89 cents per share in the second quarter of fiscal 2011, compared with a net loss of $30.7 million or 40 cents per share a year ago. However, excluding inventory impairments and land option contract abandonment charges of $20.6 million and a loss of [...]

(KBH) KB Home’s Loss Widens

(KBH) KB Home Second Quarter 2011 Earnings Preview

vitalstocks — Wed, 29 Jun 2011 17:09:46 +0000

KB Home (KBH) is scheduled to release its second quarter 2011 results before the market opens on June 29, 2011. Los Angeles, California-based KB Home realized a loss of 49 cents per share in the first quarter, which is wider than the Zacks Consensus Estimate of a loss of 27 cents per share. For the [...]

(KBH) KB Home Second Quarter 2011 Earnings Preview

(TOL) Toll Brothers Faces Rating Cut

vitalstocks — Wed, 29 Jun 2011 16:34:35 +0000

Toll Brothers Inc. (TOL) has been recently downgraded by Standard & Poor’s Rating Services to a “BB-plus” status from a prior “BBB-minus.” The cut in corporate credit rating implies the company’s weak prospects in the near term. The housing market is still in a fragile stage and thus the spring home sale season is likely [...]

(TOL) Toll Brothers Faces Rating Cut

(TOL) U.S. Housing: Past and Future

vitalstocks — Tue, 28 Jun 2011 23:33:33 +0000

I recently came across this piece written by Larry Kudlow, the host of two shows on CNBC. It is from June 20, 2005: “Homebuilders led the stock parade this week with a fantastic 11 percent gain. This is a group that hedge funds and bubbleheads love to hate. All the bond bears have been dead [...]

(TOL) U.S. Housing: Past and Future

(LEN) Lennar’s Second Quarter Beats Estimates

vitalstocks — Thu, 23 Jun 2011 20:09:27 +0000

Lennar Corporation (LEN) reported net earnings of $13.8 million or 7 cents per share in the second quarter of fiscal 2011 ended May 31, 2011, compared with $28.7 million or 15 cents per share in the year-ago quarter. Reported earnings were higher than the Zacks Consensus Estimate of 4 cents per share. Total revenue in [...]

(LEN) Lennar’s Second Quarter Beats Estimates

(DHI) New Homes Sales Down Less than Expected

vitalstocks — Thu, 23 Jun 2011 20:05:16 +0000

New Home Sales in May fell by 2.1% from April, to a rate of 319,000. Relative to a year ago, sales are up 13.5%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. Offsetting the decline was an upward revision to the April numbers of 3,000 [...]

(DHI) New Homes Sales Down Less than Expected

(LEN) Lennar Second Quarter 2011 Earnings Preview

vitalstocks — Wed, 22 Jun 2011 21:18:18 +0000

Lennar Corp. (LEN) announced that it will release its second quarter 2011 results before the market opens on June 23, 2011. Miami, Florida-based Lennar Corp. earned a profit of 14 cents per share in the first quarter, comprehensively beating the Zacks Consensus Estimate of a loss of 6 cents per share. For the upcoming quarter, [...]

(LEN) Lennar Second Quarter 2011 Earnings Preview

(BZH) Homebuilders Settle Land Dispute

vitalstocks — Mon, 20 Jun 2011 15:24:45 +0000

Three of the largest homebuilders in the U.S., including Beazer Homes USA Inc. (BZH), KB Home (KBH) and Toll Brothers Inc. (TOL), have decided to pay lenders up to $340 million to meet their claims and settle legal actions related to a failed housing development deal near Las Vegas. Individually, Los Angeles-based KB Home will [...]

(BZH) Homebuilders Settle Land Dispute

(DHI) New Home Sales Report Up But Still Ugly

vitalstocks — Thu, 02 Jun 2011 05:11:19 +0000

New Home Sales in April rose by 7.3% from April, to a rate of 323,000. Relative to a year ago, sales are down 23.1%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. In additional good news about the direction of new home sales, the March [...]

(DHI) New Home Sales Report Up But Still Ugly

(DHI) U.S. Existing Home Sales Up in April

vitalstocks — Fri, 20 May 2011 17:48:29 +0000

The existing home sales in the U.S. rose in April, marking the second consecutive month of improvement in previously owned homes. Total purchases of existing houses stood at a seasonally-adjusted annual rate of 5.2 million, up 2% from a seasonally-adjusted annual rate of 5.1 million a month ago. High unemployment, low customer confidence and tough [...]

(DHI) U.S. Existing Home Sales Up in April

(BZH) Stock Market News for May 4, 2011 – Market News

vitalstocks — Wed, 04 May 2011 18:09:52 +0000

On Tuesday, markets felt the pinch of disappointing quarterly results and the benchmarks slid a few points as investors feared profitability might drop over the coming quarters. Over the past couple of weeks, markets have remained upbeat, climbing to multi-year highs following robust corporate results. Additionally, a drop in crude prices weighed down the energy [...]

(BZH) Stock Market News for May 4, 2011 – Market News

(DHI) Home Prices Still Falling

vitalstocks — Mon, 02 May 2011 06:05:36 +0000

In February, home prices continued to slip, and the declines were widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.23% on a seasonally adjusted basis, and is down 2.60% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.18% on the month and is [...]

(DHI) Home Prices Still Falling

(DHI) U.S. New Home Sales Better – Levels Are Still Bad

vitalstocks — Tue, 26 Apr 2011 15:44:33 +0000

New Home Sales in March rose by 11.1% from March, to a rate of 300,000. Relative to a year ago, sales are down 21.9%. While the rebound is more than welcome, it is still a very dismal rate of new home sales. In additional good news about the direction of new home sales, the February [...]

(DHI) U.S. New Home Sales Better – Levels Are Still Bad

(DHI) U.S. New Housing Starts and Permits Rise

vitalstocks — Sat, 23 Apr 2011 15:24:23 +0000

Housing Starts rose in March to a seasonally adjusted annual rate of 549,000 from 512,000 in February, an increase of 7.2%. Also, the February numbers were revised sharply higher from 479,000, so it is possible to see the increase as 70,000, or 14.6%. Relative to a year ago they are down 13.4%. Quite frankly, a [...]

(DHI) U.S. New Housing Starts and Permits Rise

(KBH) Homes Crumble – Mortgage Applications Fall as Rates Rise

vitalstocks — Sun, 10 Apr 2011 15:48:30 +0000

The rising mortgage rates in the U.S. have pulled down the total mortgage applications in the country, thereby discouraging home buyers. The 30-year fixed mortgage rate increased slightly to 4.93% from 4.92% in the last week, leading to a 2% drop in mortgage application on a seasonally adjusted basis. The overall economic recovery has undoubtedly [...]

(KBH) Homes Crumble – Mortgage Applications Fall as Rates Rise

(MTH) Meritage Homes Corporation Expands in Raleigh-Durham

vitalstocks — Thu, 07 Apr 2011 15:14:01 +0000

Meritage Homes Corporation (MTH) wants to expand in the Raleigh-Durham market of North Carolina, so it recently purchased 46 one-acre home sites at the Inwood Forest community in south Raleigh The Raleigh-Cary and Durham-Chapel markets have been named the No. 1 and No. 3 healthiest homebuilding markets for 2011, respectively, by Hanley Wood Market Intelligence. Model [...]

(MTH) Meritage Homes Corporation Expands in Raleigh-Durham

(TOL) Toll Brothers and Deutsche Bank Buy Loans

vitalstocks — Sun, 03 Apr 2011 16:07:27 +0000

Gibraltar Capital and Asset Management LLC, a wholly owned subsidiary of Toll Brothers Inc. (TOL) and Deutsche Bank (DB) together announced the closing of a private transaction with a large financial institution. The transaction involves the purchase of a portfolio consisting of 83 non-performing loans with outstanding balances of almost $200 million. The average size [...]

(TOL) Toll Brothers and Deutsche Bank Buy Loans

(DHI) U.S. Home Prices Keep Falling

vitalstocks — Thu, 31 Mar 2011 19:16:34 +0000

In January, home prices continued to slip, although the declines were less widespread than in recent months. The Case-Schiller Composite 10 City index (C-10) fell 0.22% on a seasonally adjusted basis, and is down 2.03% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) also fell by [...]

(DHI) U.S. Home Prices Keep Falling

(DHI) U.S. Housing Industry Still Struggling

vitalstocks — Thu, 31 Mar 2011 14:34:56 +0000

The prolonged weakness in the housing industry has extended up to February 2011. Housing starts fell 22.5% year over year to a seasonally-adjusted annual rate of 479,000 units in February, in contrary to an expectation of an improvement to 580,000 units. The drop in housing starts during the month was the highest since March 1984, [...]

(DHI) U.S. Housing Industry Still Struggling

(DHI) U.S. Reports Record Low New Home Sales

vitalstocks — Tue, 29 Mar 2011 14:36:23 +0000

New Home Sales in February fell by 16.9% from January to a dismal rate of 250,000. Relative to a year ago, sales are down 28.0%. In a very faint silver lining to an otherwise dismal report, the January rate was revised up to 301,000 from 284,000. Thus relative to where we thought we were, it [...]

(DHI) U.S. Reports Record Low New Home Sales

(DHI) U.S. New Home Sales Decline 12.6%

vitalstocks — Mon, 07 Mar 2011 18:00:47 +0000

The feeble condition of the homebuilding industry has once again reflected in the home sales statistics for January. New home sales dropped 12.6% to a seasonally adjusted 284,000 units from 325,000 units in December last year. Meanwhile, pending home sales index fell 2.8% to 88.9 from 91.5 in the previous month. The decline in new [...]

(DHI) U.S. New Home Sales Decline 12.6%

(DHI) U.S. January 2010 New Home Sales Dismal

vitalstocks — Mon, 28 Feb 2011 16:27:04 +0000

New Home Sales in January fell by 12.6% from December, to a dismal rate of 284,000. Relative to a year ago, sales are down 18.6%. The December rate was revised down to 325,000 from 329,000. Thus relative to where we thought we were, it could be seen as a 13.7% decline. The level was substantially [...]

(DHI) U.S. January 2010 New Home Sales Dismal

(DHI) U.S. Home Prices Fall Again in December – Case-Schiller

vitalstocks — Wed, 23 Feb 2011 00:18:14 +0000

In December, home prices continued to slip, and the declines were very widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.36% on a seasonally adjusted basis, and is down 1.22% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.41% on the month and [...]

(DHI) U.S. Home Prices Fall Again in December – Case-Schiller

(DHI) Multi-family Housing Starts Explode

vitalstocks — Fri, 18 Feb 2011 16:39:19 +0000

Housing Starts rose in January to a seasonally adjusted annual rate of just 596,000 from 520,000 in December, a rise of 14.6%. The December numbers were revised lower from 529,000, so it is possible to see the increase as 67,000, or 12.7%. Relative to a year ago they are down 2.6%. Quite frankly, a year [...]

(DHI) Multi-family Housing Starts Explode

(LEN) U.S. Housing Market Index Unchanged in February – It is Still Awful

vitalstocks — Wed, 16 Feb 2011 18:10:18 +0000

The National Association of Home Builders (NAHB) Housing Market Index (HMI) was unchanged in February, holding at 16 for the fourth month in a row. The index is a “magic 50” index, where 50 is the dividing line between homebuilders seeing the conditions as been good and being poor. As such, 16 is an extremely [...]

(LEN) U.S. Housing Market Index Unchanged in February – It is Still Awful

(DHI) U.S. Housing Starts Fall in December 2010 – Permits Up

vitalstocks — Mon, 24 Jan 2011 19:01:42 +0000

Housing Starts fell in December to a seasonally adjusted annual rate of just 529,000 from 553,000 in November, a fall of 4.3%. The November numbers were revised slightly lower from 555,000, so it is possible to see the decline as 26,000. Relative to a year ago they are down 8.2%. Quite frankly, a year ago [...]

(DHI) U.S. Housing Starts Fall in December 2010 – Permits Up

(DHI) Economic Update – October 2010 – U.S. Home Prices Still Falling

vitalstocks — Tue, 28 Dec 2010 22:49:09 +0000

In October, home prices continued to slip, and the declines were very widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.93% on a seasonally adjusted basis and is up just 0.20% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.99% on the month [...]

(DHI) Economic Update – October 2010 – U.S. Home Prices Still Falling

(DHI) Second Leg of Home Price Declines Underway

vitalstocks — Tue, 28 Dec 2010 00:35:57 +0000

In September, home prices continued to slip, and the declines were very widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.67% on a seasonally adjusted basis, and is up just 1.52% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.80% on the month [...]

(DHI) Second Leg of Home Price Declines Underway

(DHI) October U.S. New Home Sales Still Falling

vitalstocks — Tue, 28 Dec 2010 00:17:55 +0000

New Home Sales in October fell by 8.1% from September to a dismal rate of 283,000. Relative to a year ago, sales are down 28.5. It’s not like September was a strong month for new home sales, either — the six lowest months on record (back to 1963) for new home sales, have all been [...]

(DHI) October U.S. New Home Sales Still Falling

(DHI) U.S. November New Home Sales Disappoint

vitalstocks — Mon, 27 Dec 2010 23:56:10 +0000

New home sales in November rose by 5.5% from October, but that puts them at a dismal rate of 290,000. The percentage increase is a bit exaggerated as well, since the October numbers were revised down to 275,000 from 283,000. Thus relative to where we thought we were, the increase is more like 2.5%. The [...]

(DHI) U.S. November New Home Sales Disappoint

(DHI) U.S. Housing Starts Up, Permits Down

vitalstocks — Mon, 20 Dec 2010 20:32:06 +0000

Housing Starts rose in November to a seasonally adjusted annual rate of 555,000 from 534,000 in September, an increase of 3.9%. The October numbers were revised higher from 519,000, so it is possible to see the increase as 21,000 or 6.9%. Relative to a year ago, they are down 5.8%. Quite frankly, a year ago [...]

(DHI) U.S. Housing Starts Up, Permits Down

(LEN) July Begins Second Downleg in Housing Prices

vitalstocks — Wed, 29 Sep 2010 03:28:02 +0000

In July, home prices started to slip again, but unevenly across the country. The Case-Schiller Composite 10 City index (C-10) rose 0.03% on a seasonally adjusted basis, and is up 4.01% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.13% on the month and [...]

(LEN) July Begins Second Downleg in Housing Prices

(DHI) U.S. Housing Starts Still Weak

vitalstocks — Tue, 17 Aug 2010 20:44:47 +0000

In July, Housing Starts rose to a seasonally-adjusted annual rate of 546,000, an increase of 1.7% over the 537,000 rate in June. However, the June rate was revised down from 549,000 so, relative to where we thought we were yesterday, it is a decline of 0.5%. Relative to the 587,000 pace of a year ago, [...]

(DHI) U.S. Housing Starts Still Weak

(PHM) Pulte Group – Bear of the Day

vitalstocks — Fri, 13 Aug 2010 16:16:10 +0000

Despite being the largest homebuilder in the U.S. with operations in more than 50 markets, Pulte Group (PHM) suffers from high cyclicality in the industry. The company also faces intense competition from the resale of existing or foreclosed homes, as well as available rental housing. Furthermore, the sub-prime mortgage crisis continues to adversely affect its [...]

(PHM) Pulte Group – Bear of the Day

(LEN) U.S. New Home Sales Collapse

vitalstocks — Fri, 25 Jun 2010 17:28:29 +0000

Everyone expected that New Home Sales would be weak, but not that weak. In May, new homes were selling at a seasonally-adjusted annual rate of 300,000, 32.7% below the 446,000 rate in April and even 18.3% below the very depressed levels of a year ago. Actually, given the huge downward revision to the April numbers [...]

(LEN) U.S. New Home Sales Collapse

(GFA) Cash Flow: One of the Most Accurate Ways to Analyze a Stock’s Value

InvestmentU — Fri, 25 Jun 2010 17:15:13 +0000

by Marc Lichtenfeld, Advisory Panelist Wednesday, June 23, 2010: Issue #1287 What’s the best way to analyze a company’s stock? One of the most basic is to look at the firm’s earnings. Historically, if earnings consistently grow, so does the stock price. But I prefer another, more accurate measurement of a company’s performance – cash [...]

(GFA) Cash Flow: One of the Most Accurate Ways to Analyze a Stock’s Value

(DHI) U.S. New Home Sales Impress! $$

vitalstocks — Wed, 26 May 2010 20:26:36 +0000

New Home Sales jumped 14.8% in April to a seasonally adjusted annual rate of 504,000. That easily beat expectations for a rise to 425,000. Well actually, after the revisions, that would not be a rise. The March numbers were revised sharply higher to an annual rate of 439,000 from the originally reported level of 411,000. [...]

(DHI) U.S. New Home Sales Impress! $$

(PHM) PulteGroup Incorporated – Bear of the Day

vitalstocks — Thu, 29 Apr 2010 14:09:45 +0000

Despite being the largest homebuilder in the U.S., with operations in more than 50 markets, PulteGroup (PHM) suffers from high cyclicality in the industry. The company also faces intense competition from the resale of existing or foreclosed homes and available rental housing. The sub-prime mortgage crisis will have a long-term impact on Pulte. It will [...]

(PHM) PulteGroup Incorporated – Bear of the Day

(GFA) Gafisa S.A. Prices 74 Million Share Global Offering

vitalstocks — Tue, 06 Apr 2010 21:11:38 +0000

Gafisa S.A. (GFA), one of Brazil’s leading diversified national homebuilders, has recently priced the global offering of its 74 million common shares and ADS (American Depository Shares). The ADSs were offered at US$14.03 each and the shares were offered at R$12.50 each. Each ADS equals two common shares. The proceeds are expected to be used [...]

(GFA) Gafisa S.A. Prices 74 Million Share Global Offering

(DHI) Report on New U.S. Home Sales is Just Plain Ugly

vitalstocks — Sat, 27 Mar 2010 20:59:46 +0000

New Home Sales dropped to an all time record low in February, down 2.2% on the month to a seasonally adjusted annual rate of 308,000. The one saving grace to the report was that the January numbers, which previously were the all-time record low, were revised to a 315,000 rate from the originally reported 309,000 [...]

(DHI) Report on New U.S. Home Sales is Just Plain Ugly