U.S. stocks closed higher on Friday, with the Nasdaq setting another record as investors cheered major earnings reports.» Read More
NEW YORK— Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:. Domino's Pizza Inc., up $9.43 to $109.23. PulteGroup Inc, down $1.72 to $19.97.
Shares of PulteGroup Inc. and Meritage Homes Corp. were hit particularly hard after they reported disappointing first-quarter results Thursday. PulteGroup's stock shed $1.52, or 7 percent, to $20.17 in afternoon trading. Elsewhere, shares of Beazer Homes USA Inc. fell 47 cents, or 2.5 percent, to $17.68.
*Pepsi, P&G, 3 M blame strong dollar for missing estimates. *Texas Instruments slump pulls down chipmakers. Both Brent and U.S. crude futures rose more than 3 percent on heightened concerns over the security of Middle East supplies as a civil war escalated in Yemen.
April 23- PulteGroup Inc reported a surprise slide in quarterly profit after home sales fell 28 percent in the pricey U.S. PulteGroup sold only 248 homes in the Northeast where it usually claims the highest average selling price. In 2014, when PulteGroup's countrywide average price stood at $329,000, it commanded $452,000 on average in the NorthEast.
AT&T gained 3 percent Thursday after the company said it expects bigger savings from its proposed purchase of satellite TV company DirecTV. PulteGroup sank 8 percent after reporting income that was well below what analysts were expecting. The price of crude oil rose $1.98 to $58.10 a barrel in New York.
*Pepsi, P&G, 3 M blame strong dollar for missing estimates. Business activity slowed more than expected in the euro zone this month while manufacturing in Asia's top two economies hit the brakes, suggesting the global recovery path is less clear than policymakers are predicting. The fall in European stock markets and the weaker PMI numbers across the board had...
NEW YORK— U.S. stocks are opening slightly lower following disappointing earnings news from a major homebuilder and other companies. PulteGroup sank 9 percent in early trading Thursday, the most in the Standard& Poor's 500 index, after reporting quarterly income that was well below what Wall Street analysts were expecting. Railroad operator Union Pacific and...
*Pepsi, P&G, 3 M blame strong dollar for missing estimates. April 23- U.S. stocks were set to open lower on Thursday weighed by soft data out of Europe and China, while companies such as Procter& Gamble and 3 M joined others in issuing disappointing forecasts. The fall in European stock markets and the weaker PMI numbers across the board dragged futures lower on Wall...
April 23- PulteGroup Inc reported a surprise 27 percent fall in quarterly profit as it sold fewer homes due to construction delays, sending its shares down 8 percent in premarket trading. PulteGroup's sales fell 2 percent to 3,365 homes in the first quarter ended March 31, while average selling price rose at the slowest rate in more than three years.
ATLANTA— PulteGroup Inc. on Thursday reported first-quarter profit of $55 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share. PulteGroup shares have increased 1 percent since the beginning of the year, while the Standard& Poor's 500 index has increased slightly more than 2 percent.
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Detroit's housing scene is making a comeback but a shortage of inventory is holding back the recovery.
Lennar Corp, Toll Brothers Inc and KB Home, among the top six builders, together reported an average 19 percent increase in orders in the latest quarter, up from 3.3 percent in the same period last year. Lennar, the No.2 U.S. homebuilder after D.R. Horton Inc, said on Thursday it expected single-family housing starts and permits to rebound "shortly".
The nation's largest home builders have been quick to check and recheck their flooring lines after Lumber Liquidators mess.
Remember the infamous "taper tantrum" of 2013? You should.
Baby boomers looking to downsize from suburban homes are finding condos near more urban areas to be way too pricey. So they are staying put.
The regular session saw a fairly broad rally, even as Janet Yellen talked about rates.
Some of Thursday's midday movers:
A monthly index from the National Association of Realtors measuring signed contracts to buy existing homes fell 3.7 percent last month.