Beazer Homes USA Inc. reported its first quarterly profit since 2006 on Tuesday and credited more stable home prices and cost cuts for a marked improvement in the homebuilder's gross margins.

The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed.

Homebuilder Ryland Group Inc. on Wednesday said its third-quarter loss narrowed on shallower losses at its home building businesses.

What follows is a roundup of corporate earnings reports for Wednesday, Oct. 28.

New home sales rose a tepid 0.7 percent last month, missing Wall Street expectations and providing more evidence the housing market recovery remains tentative.

Shares of homebuilders slid Wednesday as new home sales dropped for the first time in five months.

Fresh signs that the economy is stabilizing  emerged Tuesday in reports that home construction rose more than expected last month and wholesale prices remain in check.

Construction spending likely retreated in September following a housing-fueled rise in August. A slip in building activity would underscore the fragile nature of the housing recovery, which analysts hope will provide support for the overall economy in the months ahead.