San Diego, CA 7/10/2009 4:04:27 AM
Beazer Homes USA Jumps, Shrugs Off Fraud Charges
Beazer Homes USA Inc. (BZH) shares plowed higher today on encouraging jobs news, and despite a big mortgage fraud settlement agreement from a few days ago.
Beazer Homes USA Inc. (BZH) shares made gains on Thursday thanks to a round of encouraging news from the Labor Department. Jobless claims fell to under January's levels, pointing to signs that the economy is improving well enough that the housing market is recovering. Beazer shares were up along with most homebuilder stocks, led by competitor KB Homes. KB Homes was upgraded to an 'outperform' by Credit Suisse.
The gain came despite criminal fraud charges filed against Beazer Homes that ultimately led to a $53 million settlement to be paid to mortgage borrowers who claim they had been defrauded by Beazer.
What's next for Beazer and other homebuilders? Investors invited to read further analytical review of Beazer Homes USA Inc. as well as similar opportunities by subscribing to the free Small Cap Network Newsletter, which offers complete access to all commentary, market trend analysis, trading ideas and other useful market related insights by going to: www.smallcapnetwork.com/s/.
About Beazer Homes USA Inc.
Beazer Homes USA Inc. (BZH) engages in the design, building, and sale of single-family and multi-family homes in the United States. It offers homes for entry-level, move-up, luxury, or retirement-oriented buyers. The company also provides title insurance services to its homebuyers. Beazer Homes USA sells its homes through commissioned employees and independent brokers. The company was founded in 1985 and is headquartered in Atlanta, Georgia.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
Small Cap Network is not a registered investment advisers or broker/dealer. Small Cap Network makes no recommendation that the purchase of securities of companies profiled in this website is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for many of their securities, investing in such securities is highly speculative and carries a high degree of risk.
Contact Information:
Small Cap Network
4653 Carmel Mtn. Rd
Suite 308 #402
San Diego, CA 92130
Email: editor@smallcapnetwork.com
Source: Small Cap Network
http://community.smallcapnetwork.com/Small-Cap-Home-Builder-Stocks-Grasping-At-Straws/s/article/view/p/mid/1/id/135/
