Homebuilder ETF (XHB) Continues Trending Higher as Toll Brothers (TOL) Moves Segment on Q3 Results

August 22, 2012 10:30 AM EDT
The SPDR S&P Homebuilders (NYSE: XHB) ETF is trading stronger Wednesday, as positive momentum from Toll Brothers (NYSE: TOL) propels the segment. The ETF is up 1.8 percent today and 12 of the last 15 sessions.

Earlier in the session, Toll Brothers reported third-quarter 2012 results. Earnings and sales both topped views, with strong fourth-quarter deliveries expected to boot.

Toll shares are up 4.4 percent today. Others making a move higher include PulteGroup (NYSE: PHM), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Lennar (NYSE: LEN), and D.R. Horton (NYSE: DRH).

Additionally, existing home sales results for July showed a 2.3 percent increase to 4.47 million, versus consensus views calling for a 3.2 percent increase to 4.55 million.

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