Homebuilding Stocks Rise as Lennar Earnings Surprise (XHB, LEN, TOL, more)
More News related to DHI
- D.R. Horton, Inc. Presentation at The Goldman Sachs US Financial Services Conference 2009 to be Webcast Live December 9, 2009
- D.R. Horton, Inc. Presentation at the J. P. Morgan SMid Cap Conference 2009 to be Webcast Live on December 3, 2009
- Notable Analyst Rating Changes 11/23: SBUX, DE, SEED, NDAQ Upgraded; AGU, TRA, CIEN, FL Downgraded
- Citigroup Upgrades DR Horton (DHI) to Hold
- Unusual 11 Mid-Day Movers 11/20: GGR, TTIL, INO, NLST Higher; EFUT, HAWK, ADCT, DHI Lower
More News related to KBH
- Notable Analyst Rating Changes 12/2: AMR/UAUA, RFMD, STI, SAY, KBH, BBT Upgraded; STZ, MTL, BWP, POM Downgraded
- Credit Suisse Upgrades MDC Holdings (MDC) to Neutral, $29 Target
- KB Home Launches New Mobile Web Site for On-The-Go Home Shoppers
- Credit Suisse Upgrades KB Home (KBH) to Outperform
- KB Home to Build Energy Plus Certified Homes in Las Vegas
More News related to LEN
- Lennar's Presentation at the UBS Building & Building Products Seventh Annual CEO Conference To Be Webcast Live
- Homebuilders Very Strong as Toll's Better-Than-Expected Results Bode Well for the Group (TOL, XHB, DHI, LEN, more)
- Credit Suisse Upgrades Lennar (LEN) to Outperform
- Homebuilders Fall Amid Sharp Decline in New Home Sales, Concerns About Possible Extension of Home Buyer Tax Credit
- Beacon Equity Issues Trading Outlook for Beazer Homes USA Inc.
Homebuilders are having a solid day on Wall Street today following much better-than-expected Q2 results from Lennar (NYSE: LEN) reported this morning. Lennar reported an adjusted-loss of $0.11 on sales of $891.9 million, which compares to Street estimates of a $0.64 loss on sales of $597.59 million.
Shares of Lennar have surged more than 16% on the news today. Elsewhere in the group, D.R. Horton (NYSE: DHI) is up 4.8%, Toll Brothers (NYSE: TOL) is up 4.7%, shares of Pulte Homes (NYSE: PHM) are up 5.9% and KB Home (NYSE: KBH), which will report its Q2 results tomorrow morning, is up 8.5%.
The SPDR S&P Homebuilders ETF (NYSE: XHB) is up more than 5% today as traders hit the bid following the results. Notably, shares of this ETF are down 15% since the beginning of May, but up 6% from recent lows.
Related Categories
Insiders' BlogTrader Talk
Stocks Mentioned
+0.10Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
