DR Horton fell$. 28 or 1.3 percent, to $20.46. Hovnanian Enterprises Inc. fell$. 11 or 2.9 percent, to $3.71. Lennar Corp. fell$. 45 or 1.1 percent, to $38.96.» Read More
WASHINGTON, July 28- Contracts to buy previously-owned U.S. homes unexpectedly fell in June, but the data did little to change perceptions the housing sector was gradually recovering after slumping in late 2013.. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed last month, fell 1.1 percent to 102.7.
*D.R. Horton shares down 10 pct, PulteGroup down 3 pct. July 24- D.R. Horton Inc, the No.1 U.S. homebuilder, said it had to offer discounts in the third quarter to boost sales in Chicago, a particularly bleak spot in a weak U.S. housing market.
The PHLX housing sector index fell 2.36 percent, with shares of D.R. Horton Inc, the No. 1 U.S. homebuilder, dropping more than 3 percent. D.R. Horton spooked investors on Thursday when it reported a 23- percent drop in third-quarter profit.
*Weekly jobless claims fall 19,000. WASHINGTON, July 24- The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/ 2 years last week, suggesting the labor market recovery was gaining traction.
WASHINGTON, July 24- Sales of new U.S. single-family homes fell sharply in June and the prior month's data was revised to show less robust growth, suggesting the housing market would struggle to regain momentum.
July 24- Southern Co, a power company, said it hopes to announce plans to build more nuclear reactors by the end of the year, a spokesman said late Wednesday.
July 24- Southern Co, one of the biggest U.S. power companies, said it hopes to announce plans by the end of the year to build more nuclear reactors, a spokesman said late Wednesday.
July 24- D.R. Horton Inc, the No.1 U.S. homebuilder, reported a 23 percent slump in third-quarter profit, hurt by an impairment charge, mainly on properties in the weak Chicago market. D.R. Horton reported a 15 percent drop in home deliveries in both the Midwest and the Southwest in the quarter ended June 30.
July 24- D.R. Horton Inc, the No.1 U.S. homebuilder, reported a 28 percent rise in third-quarter homebuilding revenue and the company said orders rose 25 percent. Homebuilding revenue rose to $2.10 billion in the quarter ended June 30 from $1.64 billion, a year earlier.
July 24- U.S. homebuilder PulteGroup Inc reported a 15 percent rise in quarterly profit as it sold homes at higher prices, but said orders fell 2.2 percent. Net income rose to $41.9 million, or 11 cents per share, in the second quarter ended June 30, from $36.4 million, or 9 cents per share, a year earlier.
Ron Napier, Head of Napier Investment Advisors, describes his worries over China's construction sector.
*Chinese firm said to now have enough cash to pay off $64.5 mln bond. SHANGHAI, July 23- A troubled Chinese construction company avoided a landmark bond default at the last minute on Wednesday, raising enough funds to pay off both principal and interest on a 400 million yuan bond, people directly involved in the matter told Reuters.
SHANGHAI, July 23- China's Huatong Road& Bridge Group Co Ltd managed to avoid a landmark bond default at the last minute on Wednesday, raising enough funds to pay off both principal and interest on a 400 million yuan bond due by the end of the day, sources directly involved in the issue told Reuters.
WASHINGTON, July 22- U.S. home resales hit an eight month-high in June, suggesting the housing market was gradually regaining momentum and would help the economy to stay on a higher growth path this year.
WASHINGTON, July 22- U.S. home resales rose in June to their fastest pace in eight months, a signal that the housing market was pulling out of a slump. The National Association of Realtors said on Tuesday existing home sales increased 2.6 percent to an annual rate of 5.04 million units. "Things are flying pretty fast," said Lawrence Yun, the NAR's chief economist.
SHANGHAI, July 18- A Chinese construction company at risk of declaring a landmark bond default on nearly $65 million is getting local political support to hold off creditors and get cash, state media reported on Friday, citing sources at the struggling firm.
WASHINGTON, July 17- The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to sustained momentum in the economy even as home building fell for a second straight month in June.
LONDON, July 17- Copper prices fell to their lowest in two weeks on Thursday amid growing concern over the outlook for metal demand from the property sector after a Chinese builder warned of a possible bond default.
WASHINGTON, July 17- The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market recovery was gaining traction. "This part of economy is going in the wrong direction while the rest of the economy is picking up," said Anthony Karydakis, chief economic strategist at Miller Tabak in New York.
WASHINGTON, July 17- U.S. housing starts and building permits unexpectedly fell in June, suggesting the housing market recovery was struggling to get back on track after stalling in late 2013.. Groundbreaking declined 9.3 percent to a seasonally adjusted annual 893,000 million unit-pace, the lowest since September, the Commerce Department said on Thursday.