U.S. stock index futures pointed to a higher open on Wall Street on Thursday.» Read More
Beazer Homes USA, facing a deteriorating U.S. housing market and federal investigations into lending practices, posted a quarterly loss on Thursday as the builder took charges for inventory and goodwill impairments and abandonment of land option contracts.
Next week, no fewer than six major public home builders will report their quarterly earnings, all right around the same day that the U.S. Dept. of Commerce reports its New Home Sales data for the month of June. I doubt either will be very heartening for investors.
Speculation that Warren Buffett could buy a stake in Hovnanian sent the homebuilders up. But on "Street Signs" today Cramer explained why there's a more likely target. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Beazer Homes USA said it fired chief accounting officer Michael Rand due to violations of the company's ethics policy stemming from attempts to destroy documents.
Beazer Homes USA said the U.S. SEC is conducting an informal inquiry to determine if the company or its employees had violated securities laws.
Beazer Homes reported a substantial loss in its fiscal second quarter as sales fell sharply from the same quarter a year ago due to weakness in the U.S. housing market. The company also withdrew its full-year earnings guidance.
Stocks are set to move higher at the opening, with the Dow heading straight for the 13,000 mark. European shares are higher, as the rising euro closes in on its all-time high against the dollar. Overnight, Asian stocks were lower, with Tokyo stocks falling on worries about the U.S. consumer after yesterday's weak housing data and consumer confidence number. Japanese automakers' shares were dented in the selling.
Builders remain cautious and buyers continue to be hesitant, but investors may want to make a move.
Guest blogger Jeff Mishlove is back--with more insights for you contest players. He's called this piece, "Surf the Waves and Buy the Dips." Here it is: You don’t have to live in California or Hawaii to surf the stock market. And, you can buy the dips without worrying about consuming too many calories or grams of fat. In fact, during the heyday of the 1990’s internet bubble, the rallying cry was “buy every dip!”
Beazer Homes USA said on Friday it would review two lawsuits filed against the home builder, one of which accuses the company of using practices that allowed unqualified borrowers to get loans to buy its homes, but said it believes both were without merit.
Is it worth getting into ICE or BOT ahead of a possible buyout? Is Saks less immune in an economic downturn than Federated? The guys go face-to-face with some inquiring minds.
In the wake of a Charlotte Observer report about one area's unusually high foreclosure rate, Beazer Homes USA said it has received a grand jury subpoena from the U.S. Attorney's Office, which is probing its mortgage origination business. A unique case? Not according to CGM Capital Management's Kenneth Heebner, who says the negative impact of fast and loose lending policy has "only begun."
Beazer Homes USA said it has received a grand jury subpoena from the U.S. Attorney's Office, which is seeking documents relating to it mortgage origination business.
Hi folks. Here a look at the latest stock performance. Quick turnarounds seem to be paying off for several stocks, but obviously, not all. Downgrades and business news (see Beazer Homes below) certainly affect what's happening. Note the "replacements" at the S&P in the first paragraph. Okay, here are the stats with some notes on why the stocks are where they are.
Stocks closed sharply lower after being down all day on Fed Chairman Ben Bernanke's remarks that "economic uncertainty" has increased. "The market has these little flips up and down but it's been quiet and down all day long," said Mike Driscoll, head of listed trading at Bear Stearns
Testimony by the two top U.S. economic officials on Wednesday raised fresh concerns in financial markets about the deteriorating housing market, despite their view that subprime mortgage problems are "contained."
Beazer Homes USA , the sixth-largest U.S. home builder, on Wednesday confirmed it is cooperating with federal prosecutors in a probe relating to its mortgage business. Beazer's shares were off 12% in premarket electronic trading after earlier falling 18% to their lowest level since August 2003.
Stocks are under pressure ahead of the opening as the influence of jittery oil markets adds to the week's mounting worries about the state of U.S. housing and its potential impact on the economy. Stock futures look sharply lower, and the dollar dipped after reports of weaker than expected durable goods orders.
The guys go behind the headlines and give you the traders' take on: ITT's fine for releasing info to China, the Beazer Homes criminal probe, and more. Find out where they see fast money.
U.S. authorities are investigating the lending practices and some other dealings at Beazer Homes USA, one of the largest U.S. home builders. Beazer's stock fell nearly 17% in after-hours trading.