WATSONVILLE, Calif. _ Granite Construction Inc. on Friday reported fourth-quarter net income of $17 million, after reporting a loss in the same period a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share. Granite Construction shares have decreased 8 percent since the beginning of the...» Read More
Stocks look set to open lower after a sell off in energy and tech took the wind out of the year end rally yesterday, despite nearly $90 billion in deal announcements. Investors will be closely watching the ripple effect in emerging markets from Thailand's clampdown overnight on speculation in the baht....
Good morning. Our quote of the day comes from the poet Horace: "As a rule, adversity reveals genius and prosperity hides it." We'll see just how prosperous the U.S. housing market is today--when the housing starts and building permit numbers come out around 8:30 a.m. ET. We'll have guests including President and CEO Ara Hovnanian of Hovnanian Enterprises..
According to the old adage, "Housing and autos lead the economy into recession". In theory, it should be a scary time to be in the stock market. Housing starts are off 29% and domestic auto sales have slumped 8%. But many on Wall Street are offering an even scarier piece of investment advice, "It's different this time around." Well, is it? The “Squawk Box” team investigated.
Many analysts say housing is the key to the future direction of the U.S. economy as well as the Fed's monetary policy and the financial markets. Joseph Keating is one of those. He's Chief Investment Officer at First American Asset Management. Keating appeared on "Squawk on the Street." Keating believes...
Home Depot is eager to break down a Great Wall - and build it’s fortune in China. Today, the company secured agreements from Beijing to buy HomeWay, one of China's top home-improvement retailers. Shares jumped about 1% on the move. On CNBC’s “Closing Bell,” Dylan Ratigan examined just how quickly the Atlanta-based retailer can turn a profit on that play.
Amec, a British engineering-services company, said Wednesday it plans to sell parts of the business and at the same time issued a profit warning.
Investors won’t have to wait much longer to find out where the Fed stands on interest rates. The FOMC announcement comes at 2:15 p.m. New York time (and you can see it live on cnbc.com). It's widely expected that interest rates will hold steady at 5.25% for the fourth consecutive time. More important will be clues the central bank gives about its intentions for next year.
The board of Italy's highways regulator, ANAS, has decided to sue highway operator Autostrade for failing to make $2.7 billion in investments stipulated by its tollways license.
The slump in the U.S. housing market is having a major impact on the risky sub-prime loan business--and on the big financial firms that invest in it. CNBC's Steve Liesman had the details on "Power Lunch." Liesman said that Fitch Ratings has placed the mortgage service business Ameriquest--the nation's biggest private mortgage company--on what Fitch calls "ratings watch evolving."
REITs have been on a tear. Although glamorous properties are attracting attention from private equity, warehouse properties have been the standouts for investors. The world's largest industrial REIT is Prologis and today--the company announced an expansion of 3.3 million square feet of warehouse space in China, where it is already something of a trailblazer in the sector.
What do homebuilding, footwear and computer hardware stocks have in common? They're all good value plays, says Craig Callahan, president of ICON Advisors. He was on “Squawk on the Street” to talk with Mark Haines and Erin Burnett about his picks. ICON predicts steady growth for some companies in these areas.
Looking for signs of a bottom in the U.S. housing business has become a full-time obsession on Wall Street--but there's precious little evidence we are there. Credit Suisse put out their monthly survey of new and existing home sales trends this morning. Conditions remained unchanged in 62% of markets surveyed improved in 19%--and deteriorated in 19%.
French construction and telecom company Bouygues said Thursday strong growth in its construction and road building businesses boosted profit by 36% in the third quarter.
An Italian administrative court has ruled in favor of a government decision to block Autostrade's deal with Spanish infrastructure company Abertis Infraestructuras, Autostrade said Thursday.
A late look at stocks shows the Dow trading in a narrow 31-point range. Volume was light as well. Software, autos and gold were all under pressure. Homebuilders were trading up though on an increase in mortgage applications – which was boosted by the lowest mortgage rates in a year.
The money manager discusses stocks, housing and “burger flippers” with CNBC’s Tyler Mathisen in an exclusive cnbc.com interview.
Good morning. A busy day ahead as we'll certainly focus on the Yahoo management shuffle. The company hands an extended role to its Chief Financial Officer Susan Decker and several top execs will be leaving. Well start with our quote of the day from cartoonist Scott Adams...
Baby boomers who don’t want to retire to a distant locale (some place warmer or cheaper) may be causing a long-term drag on the U.S. housing sector – and the economy. According to a survey done by Home Depot – 89% of older Americans want to stay in their present houses for as long as possible. But companies like Home Depot are seeing a business opportunity in reaching out to boomers who want to stay put.
Well, they finally get it. The National Association of Realtors reports the largest national drop in median existing home prices ever in the month of October; prices down 3.5% across the board and even lower in certain regions of the country. And guess what? Sales bumped up for the first time since last February. What a shocker! Lower the price, and someone will buy your house.
It's the first key economic report of the week. The National Association of Realtors is out with its October report on pending home sales. CNBC’s Diana Olick keeps on top of the data and here’s what she had to say on “Morning Call.”