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Pulte Group (PHM -5%) leads a decline in homebuilders (XHB -2%) after S&P Capital IQ cuts...

Pulte Group (PHM -5%) leads a decline in homebuilders (XHB -2%) after S&P Capital IQ cuts PHM to Strong Sell from Hold. The firm expects foreclosure activity to pick up as the year progresses, adding additional pressure to prices and new home sales, and sees housing growth below consensus. Hovnanian (HOV -3.5%) also is cut to Sell.
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