Homebuilder Stocks Rose after Surprise Data and Earnings (DHI, LEN, RYL, KBH, MDC, PHM)
Homebuilder Stocks by PennyStockPickalert.com.
(EMAILWIRE.COM, February 03, 2010 ) Dallas, Tx - On Tuesday, most of the homebuilders stock soared supported by a surprise profit reported by D.R. Horton for the first time since 1997 and the existing-home sales data, which unexpectedly rose in the month December, according to a report suggesting the housing market is steadying after sharp swings caused by a government tax credit. The National Association of Realtors' index for pending sales of previously owned homes jumped by 1.0%, topped expectations for the sales to be flat.
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The Homebuilder Stock Index was the biggest percentage gainer on Tuesday and rose 6%.
D.R. Horton, Inc. (NYSE:DHI) was the biggest percentage gainer in Tuesday’s trading session and rose as much as 11% to $13.21on massive volume of 28.80 million shares. Yesterday, before the opening, one of the nation's largest home builders, said that it swung to a quarterly profit thanks to tax gain and higher revenue. In the fiscal first-quarter, the company earned $192 million, or 56 cents a share, versus a net loss of $62.6 million, or 20 cents a share, in the corresponding period of the previous year.
Home-building revenue also grew 23% y-o-y to $1.1 billion.
Analysts had been expecting the home builders to report a loss of 13 cents on $960 million of revenues. of revenues.
Lennar Corporation (NYSE:LEN) jumped 8% to $16.55, KB Home (NYSE:KBH) rose 6.50% to $16.21.
The Ryland Group, Inc. (NYSE:RYL) surged 6.50% to $23.96, Pulte Homes, Inc. (NYSE:PHM) gained 7.50% to $11.35 and M.D.C. Holdings, Inc. (NYSE:MDC) soared 7.73% to $35.97.
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The Homebuilder Stock Index was the biggest percentage gainer on Tuesday and rose 6%.
D.R. Horton, Inc. (NYSE:DHI) was the biggest percentage gainer in Tuesday’s trading session and rose as much as 11% to $13.21on massive volume of 28.80 million shares. Yesterday, before the opening, one of the nation's largest home builders, said that it swung to a quarterly profit thanks to tax gain and higher revenue. In the fiscal first-quarter, the company earned $192 million, or 56 cents a share, versus a net loss of $62.6 million, or 20 cents a share, in the corresponding period of the previous year.
Home-building revenue also grew 23% y-o-y to $1.1 billion.
Analysts had been expecting the home builders to report a loss of 13 cents on $960 million of revenues. of revenues.
Lennar Corporation (NYSE:LEN) jumped 8% to $16.55, KB Home (NYSE:KBH) rose 6.50% to $16.21.
The Ryland Group, Inc. (NYSE:RYL) surged 6.50% to $23.96, Pulte Homes, Inc. (NYSE:PHM) gained 7.50% to $11.35 and M.D.C. Holdings, Inc. (NYSE:MDC) soared 7.73% to $35.97.
ABOUT http://www.PennyStockPickalert.com
Penny Stock Pick Alert provides free stock newsletters on various stocks of the day. These alerts help investors in making the wise stock market investments. Till date thousands of our subscribers have made huge gains using our daily stock alerts. We also track Homebuilder stocks, midcap & smallcap penny stocks. You can become leader in stock market by keeping track of the daily activity.
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PennyStockPickAlert.com
Robert Wilson
Tel: 214 556 6798
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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