Some of Monday's midday movers:» Read More
Stocks will take their direction from economic data today after yesterday's drenching from negative April chain store sales took the Dow down 147 points and bit 1.7% off the Nasdaq and 1.4% off the S&P 500. European markets are lower, following overnight weakness in Asian markets.
Stocks ended higher and the Dow closed at a new record after the Federal Reserve voted to keep interest rates unchanged. "You're seeing a lot of money that was put on the sidelines earlier in the day … that money was safe to come into the market," said Jeff Kleintop, chief market strategist at LPL Financial Services.
I almost didn't want to do the Toll Brothers earnings report today on TV, because frankly, I feel like a broken record. Oh look, there's a homebuilder reporting poor earnings, missing the Street's expectations and lowering full-year earnings outlooks. And guess what? It's those tighter lending standards and that buyer skittishness that has everyone running for the hills of suburbia.
Stocks are searching for direction at lower levels ahead of the Fed's meeting today. The Fed is not expected to move on rates but its comment will be watched carefully.
Home builder Toll Brothers said its preliminary second-quarter sales fell from the same quarter last year, due to continued weakness in the U.S. housing sector, and the company also said it will not meet its previous sales and earnings guidance.
It should surprise no one who watches the ups and downs of Wall Street that a horse named Street Sense would come from way behind to win the Kentucky Derby. The week ahead looks like it will put everyone's street sense to the test as a louder chorus of market watchers use the word "caution" when it comes to buying stocks.
Media stocks are cheap, so some big players in the industry are saying “Let’s make a deal.” This week's flurry of potential media mergers includes such heavyweights as News Corp., Dow Jones, Reuters and Thomson. Analysts say that the main driver behind the proposed combinations is that media stocks are relatively cheap, making companies ripe for picking.
Thanks to the housing boom, a lot more people own million-dollar homes than a decade ago, but the status symbol certainly isn't what it used to be.
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Builders remain cautious and buyers continue to be hesitant, but investors may want to make a move.
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Picking through the housing rubble, Guy has a strong recommendation on Toll Brothers (TOL). It’s a homebuilder that doesn’t have the same exposure to the subprime contagion because it tends to work in the higher-end of the homebuilding world.
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."
Is the housing sector doing better than consumers think -- or are some contrarian market boosters guilty of "cherry picking"? An economist and a CEO debated the question, on "Morning Call."
If you’re at all interested in the housing market, then you’ve probably heard the sound from yesterday’s webcast of a Citigroup homebuilder conference. Donald Tomnitz, CEO of D.R. Horton, the nation’s largest homebuilder by volume, said, “I don't want to be too sophisticated here, but '07 is going to suck, all 12 months of the calendar year.”
Luxury home builder Toll Brothers said on Wednesday it could "burn off" its inventory in many markets in four or five months if its lower cancellation rate persists, suggesting the weak U.S. housing market may be at a bottom.
I’m getting frustrated with two words: “Housing Market.” For weeks now I’ve been getting the questions from my friends, the pitches from so-called housing experts and the assignments from my bosses: How is the Housing Market this Spring??
Stocks closed mostly lower, dragged down by higher energy prices and defiance from Iran. Technology rallied on strength in computer chips, giving the Nasdaq a boost. "Investors are somewhat cautious at these market levels," Michael Sheldon, Chief Market Strategist at Spencer Clarke, told CNBC.com.
Shares of Toll Brothers widened declines in afternoon trading Thursday after the luxury home builder cut forecasts for fiscal 2007 and said a rebound in the housing market was unlikely to materialize in time for the spring selling season.