Cedric Morris News
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D.R. Horton Inc., the largest U.S. homebuilder by volume, rose to its highest level in almost six years after reporting that earnings more than doubled in the fiscal first quarter.
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Hovnanian Enterprises Inc., the best-performing U.S. homebuilder stock this year, reported a narrower loss for its fiscal fourth quarter as sales increased in a recovering U.S. housing market.
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Phoenix, where foreclosures have surged and prices plummeted since the U.S. housing bubble burst, and Atlanta are the best potential markets for the sale of newly built homes, Barclays Capital said in a report today.
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Mark Kiesel, the Pacific Investment Management Co. managing director who sold his home in 2006 when he deemed the market a bubble, says it’s time to buy.
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Lennar Corp., the third-largest U.S. homebuilder by revenue, rose to a one-month high after a tax benefit and improving demand fueled a surge in its fiscal second-quarter profit.
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Hovnanian Enterprises Inc., the largest homebuilder in New Jersey, reported a narrower first- quarter loss as it reduced writedowns and increased sales.
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Toll Brothers Inc. , the largest U.S. luxury-home builder, reported an unexpected fourth-quarter profit after a tax benefit and decline in writedowns.
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Hovnanian Enterprises Inc. , the largest homebuilder in New Jersey, fell the most in a year in New York trading after reporting a wider second-quarter loss than analysts estimated.
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KB Home, the Los Angeles-based homebuilder that targets first-time buyers, fell the most in more than four months after it reported a decline in orders and government data showed new-home sales dropped in February.
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PulteGroup Inc. , the largest U.S. homebuilder by revenue, reported a narrower-than-expected first- quarter loss and said it expects to be profitable in the second half of the year. The shares climbed more than 3 percent.
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