Michael Rehaut News
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U.S. stocks declined, following the biggest two-day gain for the Standard & Poor’s 500 Index since January, as investors weighed S&P’s move to boost its outlook for America and Chinese data missed estimates.
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D.R. Horton Inc., the second-largest U.S. homebuilder by revenue, fell in New York trading after reporting a quarterly profit that missed analyst estimates.
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At Lambert Ranch, an Irvine, California, housing development where prices start at $1 million, just two of 98 homes are unsold since the project opened in May.
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Toll Brothers Inc. , the largest U.S. luxury-home builder, reported increases in sales, prices and orders during its second quarter as more owners decided to move up to bigger properties.
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Toll Brothers Inc. , the largest U.S. luxury-home builder, rose the most in nine months after the company reported increases in sales, prices and orders during its second quarter.
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KB Home, a Los Angeles-based homebuilder, rose to an almost three-year high after reporting a 54 percent increase in orders for the first seven weeks of its fiscal first quarter.
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Caesarstone Sdot-Yam Ltd., the Israeli producer of quartz-based countertops, climbed to a record high after posting better-than-expected fourth-quarter sales and forecasting 2013 revenue that surpasses estimates.
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Douglas Yearley Jr. , the first non- Toll brother to lead Toll Brothers Inc. , has a plaque on his desk with a warning: “You can buy more land in an afternoon than you can get rid of in a lifetime.”
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U.S. homebuilding stocks, led by Lennar Corp. and Standard Pacific Corp., posted the biggest weekly gain since July as two reports showed sales are recovering from the depths of the housing-market collapse.
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KB Home agreed to pay lenders as much as $225 million to settle claims for its share of the bankrupt South Edge community near Las Vegas, more than previously announced, the builder said today.
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