Some of Thursday's midday movers:» Read More
Toll Brothers reported a first-quarter loss Wednesday: the homebuilder announced a huge jump in write-downs on properties it could no longer sell profitably; and its sales fell 23 percent. So why did the company’s stock climb as much as 2.21 percent Wednesday? Thank the Office of Federal Housing Enterprises Oversight and Lehman Brothers.
After all the doom and gloom in recent months, the beleagured housing market got a bit of good news on Wednesday.
Homebuilder Toll Brothers on Wednesday announced that it expects to post a 22 percent drop in first-quarter home-building revenue. The top U.S. luxury builder said home-building revenue was $842.7 million for the three months ended Jan. 31, down from $1.09 billion in the year-ago quarter. But one analyst hasn't given up hope.
To date 291 (just under 60%) of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
Homebuilders face a "side effect" challenge: a massive land glut. But one savvy entrepreneur is creating a new business from the builders' problems.
U.S. homebuilder sentiment sank to nearly a record low in January. A survey released Wednesday by the National Association of Home Builders cited the glut in houses on the block, and tight credit and lending conditions, as stimuli depressing the market. Nevertheless, several of the biggest builders -- and the firms with the worst outlooks -- saw their shares rise Wednesday.
In a special Sell Block, Cramer revisits the worst performers of the subprime mortgage crisis. His new takes may surprise you.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.
Following are the day’s biggest winners and losers. Find out why shares of Circuit City (CC) and Websense (WBSN) popped while KB Homes (KBH) and Brinker International (EAT) dropped.
Stocks skidded back into correction territory as investors worried that the tumbling economy may not only cripple mortgage lenders like Countrywide Financial but create problems for other companies like AT&T.
KB Home posted a quarterly loss of nearly $773 million Tuesday with abandonment and impairment charges as the U.S. housing market continued to decline, and said it expects another tough year for the industry in 2008.
It’s the last day of 2007, which means everyone and their broker are busy with predictions for 2008, but I’d caution you in using today’s numbers from the National Association of Realtors as any basis for prediction.
I've never claimed to be an economist (just play one on TV), but I have held a few yard sales in my time, so this I know: If something isn't selling, lower the price. So how can new home sales be reportedly dropping 9 percent while the price of a new home rose month-to-month from $229,500 to $239,100?!
So I was clicking through all the sale spams in my inbox this morning -- from all the major retailers -- offering me 25 to 60 percent off on cashmere items, plasma TVs, sateen sheets and unwanted DVDs. Suddenly it occurred to me that one group of retailers was conspicuously absent: America’s big home builders.
I'm out of the office today, but I'll be back -- and blogging -- on Wednesday. Happy Holidays!
The folks at HUD felt that my blog of yesterday left out some key points, namely, their side of the story, so I am happy to post a reply directly from them.
Betting on real estate these days is not for the faint of heart. Between the housing correction, economic uncertainty, the credit crisis and predicted softening in the commercial property markets, determining where to invest for future returns requires an extra dose of due diligence and, let's face it, good old-fashioned courage.
Shares of homebuilder stocks were trading higher on Tuesday after Pulte Homes reaffirmed its fourth-quarter outlook late Monday.
A late-day selloff pushed the major stock averages down 10% from their highs, meaning the market is now officially in a correction.
The chief executive of U.S. home builder KB Home said home prices in California could fall another 10 percent to 15 percent in the next 18 months.
Cramer said he would consider "taking a shot" at the risky homebuilders, but only for a trade. Also, he shows support for the chief of Merrill Lynch.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.