DALLAS, Texas 2/20/2009 1:51:23 AM
News / Finance

Technical Trade Alerts on Residential Construction Stocks: DHI, PHM, TOL, HOV, LEN, CTX

Beacon Equity Research announces the release of Trade Alerts covering Residential Construction Stocks:  DR Horton Inc. (NYSE: DHI), Pulte Homes Inc. (NYSE: PHM), Toll Brothers Inc. (NYSE: TOL), Hovnanian Enterprises Inc. (NYSE: HOV), Lennar Corp. (NYSE: LEN) and Centex Corp. (NYSE: CTX).

 

In the Trade Alert, the author highlights D.R. Horton’s posting a net loss for its fiscal first quarter ended December 31, 2008:

 

D.R. Horton Inc. (DHI) shares fell 3.08% to $8.18 in today’s mid-morning trading. D.R. Horton operates as a homebuilding company in the United States.  Its homebuilding business engages in the acquisition and development of land for residential purposes, and construction and sale of residential homes. The company recently reported a net loss for its first fiscal quarter ended December 31, 2008, of $62.6 million, or 20 cents per diluted share, compared to the net loss for the same quarter of fiscal 2008 at $128.8 million, or 41 cents per diluted share. … D.R. Horton said its homebuilding revenue for the first quarter of fiscal 2009 totaled $900.3 million, compared to $1.7 billion in the same quarter of fiscal 2008.  Homes closed for the quarter totaled 4,068 units, compared to 6,549 homes in the year ago quarter.

 

The Trade Alert author also featured Pulte Homes’ offering discounts to homebuyers during its “Let’s Get a Move On” sales event:

Pulte Homes Inc. (PHM) shares slipped 1.37% to $9.38 in today’s mid-day trading. Pulte Homes through its subsidiaries, engages in the homebuilding and financial services businesses primarily in the United States. The company is recently staging a ‘Let’s Get a Move On’ sales event for its Albuquerque subdivisions, offering a first year 2.875% interest rate to qualified home buyers.  With annual percentage rate of the loan at 5.386%, the limited-time only sales offer requires homes to close by March 31 with a 20% down payment.  The interest rate increases to nearly 3.9% the second year and settles at nearly 4.9% from the third year through the balance of the 30 year mortgage.  The mortgages are being offered through the company’s Pulte Mortgage LLC. … The sales event kicks off Friday, February 20 and runs three days through Sunday, February 22, and follows other weekend promotions conducted by Pulte Home’s major competitors throughout the Southwest.

 


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