real-time news and commentary for investors
Thursday, Jul 25
The Homebuilders ETFs (XHB -2.6%), (ITB -4.3%) slip after earnings from PulteGroup (PHM -9.3%)...
The Homebuilders ETFs (XHB -2.6%), (ITB -4.3%) slip after earnings from PulteGroup (PHM -9.3%) and D.R. Horton (DHI -8.2%), with Pulte notable for reporting a big decline in orders (interest rates on the rise again aren't helping). Goldman reiterates its Sell rating on Pulte, noting the need to be selective within the sector. Others: Toll Brothers (TOL -2.4%), KB Home (KBH -5.8%), Lennar (LEN -4.8%), and also reporting M/I Homes (MHO -7.3%), and Ryland (RYL -8.1%). One homebuilder/landowner caught up in the selloff is UCP, Inc. (UCP -2.4%) - a promising play that may be the victim of a poorly-timed IPO, says SA Pro's Money Investor.