iShares U.S. Home Construction ETF (ITB) - NYSEARCA
  • Mon, Jan. 25, 11:50 AM
    • "Texas is in good shape," says D.R. Horton (DHI -3.5%) CEO David Auld, speaking on the earnings call (reported by Diana Olick). "We have a positive tone because we're seeing positive things out there in the market." Auld also takes note of DHI's cheaper "Express" brand, which he says is driving market share gains.
    • The stock is lower despite an earnings beat, with investors perhaps focusing on slowing price gains (sales orders up 9%, dollar amount up 12%).
    • Other names: Hovnanian (HOV -4.6%), Toll Brothers (TOL -3.4%), Lennar (LEN -3.4%), PulteGroup (PHM -3.1%), KB Home (KBH -3.8%).
    • ETFs: ITB, XHB
    | Mon, Jan. 25, 11:50 AM | 4 Comments
  • Thu, Jan. 7, 3:17 PM
    • KB Home (KBH -12.8%) attempted to bounce following a sharply lower open on the back of an earnings miss, but has fallen to new session lows. Among snippets from the earnings call:
    • The company sees FQ1 (ends Feb. 29) homebuilding revenue of $600M-$660M vs. consensus of $700M. Gross margin of 16%.
    • Low price points in Houston are moving, but high-end housing has hit a wall.
    • The company is beginning to see "boomerang" buyers - those who were foreclosed on post-crisis, but are back buying again.
    • Previously: KB Home modestly lower after earnings miss (Jan. 7)
    • ETFs: ITB -3.8%, XHB -3.1%
    | Thu, Jan. 7, 3:17 PM | 2 Comments
  • Jan. 15, 2015, 11:31 AM
    • The company earlier reported bottom-line results which beat estimates, but the top line slightly missed.
    • FQ4 (ending Nov. 30) deliveries of 6,950 homes gained 23% from a year ago. New orders of 5,492 homes up 22%, up 24% in dollar terms. ASP of $329K vs. $307K a year ago. Incentives of 23.1K per home, or 6.6% of home sales revenue vs. $20.6K and 6.3% a year ago.
    • Backlogs of 5,832 homes up 21%, up 22% in dollar terms.
    • Gross margins of 25.6% fell 120 basis points from a year ago. Operating margin of 16% down 90 bps.
    • Like KB Home earlier this week, Lennar (LEN -4%) warns of lower gross margins for fiscal 2015.
    • ITB -2.9%, XHB -2.2%
    • Toll Brothers (TOL -2.7%), Hovnanian (HOV -5.3%), D.R. Horton (DHI -4.9%), Ryland (RYL -4.7%), KB Home (KBH -5.5%), Pulte (PHM -4.3%) M.D.C. Holdings (MDC -5.9%), NVR (NVR -2.5%), Standard Pacific (SPF -3.2%)
    • Previously: Lennar beats by $0.11, misses on revenue (Jan. 15)
    | Jan. 15, 2015, 11:31 AM | 3 Comments
ITB Description
The iShares Dow Jones U.S. Home Construction Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Select Home Construction Index.
See more details on sponsor's website
Country: United States
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub