Several companies missed profit estimates today, bucking the trend. Here's what it means for the markets....» Read More
DR Horton fell $1.30 or 5.2 percent, to $23.50. Hovnanian Enterprises Inc. fell$. 08 or 1.6 percent, to $4.56. Lennar Corp. fell$. 90 or 2.2 percent, to $39.61.
NEW YORK, July 24- The S&P 500 hit a record high for a third straight session on Thursday, lifted by jobs data and earnings, but a weak reading in new home sales kept other key stock indexes little changed.
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.
NEW YORK— Only Wall Street could make the buying and selling of more than 3 billion shares look like nothing happened. "It's a stock-specific market right now," said Ryan Larson, head of equity trading at RBC Global Asset Management. Facebook's stock rose 5 percent while Caterpillar's fell 3 percent after the companies each reported quarterly results.
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 $1.64 billion, a year earlier.
DR Horton rose$. 46 or 1.9 percent, to $24.30. Hovnanian Enterprises Inc. rose$. 16 or 3.6 percent, to $4.59. Lennar Corp. rose$. 52 or 1.3 percent, to $39.86.
*Chipotle rallies a day after results, Netflix slides. Netflix Inc, one of the market's biggest trading favorites over the past few years, reported a quarterly profit that more than doubled on Monday after the market closed. However, on Tuesday, Netflix shares fell 4.6 percent to $431.09 as the company's plans to expand in Europe were seen as eroding profits.
DR Horton rose$. 43 or 1.8 percent, to $24.27. Hovnanian Enterprises Inc. rose$. 16 or 3.5 percent, to $4.59. Lennar Corp. rose$. 38 or 1.0 percent, to $39.72.
Some of Tuesday's midday movers:
DR Horton rose$. 50 or 2.1 percent, to $24.34. Hovnanian Enterprises Inc. rose$. 10 or 2.1 percent, to $4.53. Lennar Corp. rose$. 65 or 1.7 percent, to $39.99.
DR Horton rose$. 45 or 1.9 percent, to $24.62. Hovnanian Enterprises Inc. rose$. 14 or 3.3 percent, to $4.61. Lennar Corp. rose$. 82 or 2.1 percent, to $40.71.
DR Horton rose$. 36 or 1.5 percent, to $24.53. Hovnanian Enterprises Inc. rose$. 10 or 2.2 percent, to $4.56. Lennar Corp. rose$. 67 or 1.7 percent, to $40.56.
Some of Wednesday's midday movers:
U.S. stocks closed mixed on Monday, with Dow lower and the S&P 500 showing the longest streak of quarterly gains since 1998.
Some of Monday's midday movers:
Consumer confidence at highest level since January 2008. WASHINGTON, June 24- U.S. consumer confidence jumped to its highest level in nearly 6-1/ 2 years in June and sales of new homes surged in May, the latest signs that the economy has regained momentum.
Take a look at some of Tuesday's midday movers.
Americans increasingly say they prefer to live near the centers of cities and towns, but it carries a costly trade-off.
For the second year in a row, selling in May hasn't panned out the way people thought it would.
*Hewlett-Packard shares soar after announcing job cuts. NEW YORK, May 23- The S&P 500 closed at a record high on Friday, buoyed by a rally in housing stocks after better-than-expected home sales and a jump in Hewlett-Packard shares a day after the personal computer maker said it would cut more jobs.