11:28 AMHousing starts were only slightly above expectations, but homebuilders are trading higher, with Beazer Homes (BZH) up 10.3% and Hovnanian (HOV) up 8.4%. (ETF: XHB +1.7%)
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Monday, November 16, 2009
13:56 PM
Beazer Homes (BZH -5.3%) chief Ian McCarthy received a Wells notice, meaning the SEC may sue to claw back compensation under Sarbanes-Oxley. In September 2008 Beazer settled an SEC case alleging fraud; this summer Floyd Norris wondered if McCarthy might pay for presiding over a "crime wave."Comment!
07:35 AMBeazer (BZH): FQ4 EPS of $0.87 vs. consensus of -$1.24. Revenue of $376M (-42.1%) vs. $338M. Cancellation rate of 34.7% vs. 46.3% a year ago. "We experienced some moderation in negative market trends, with attractive interest rates, historically high housing affordability and the federal tax credit attracting more prospective buyers to purchase a new home. Nonetheless, elevated unemployment and rising foreclosure activity make it difficult to predict when and to what extent the housing market will sustainably recover." Shares +10.5% premarket. (PR)
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08:54 AM
Strength in homebuilder stocks premarket after May building starts come in stronger than anticipated, while permits of 518K also overshoot consensus of 508K. HOV +13%. BZH +8.4%. KBH +3.8%. TOL +2.7%.
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Friday, May 8, 2009
07:30 AMBeazer (BZH): FQ2 EPS of -$2.97 misses by $1.37. Revenue of $188M vs. $213M. (PR)
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00:10 AM
Notable earnings after Friday's close: BZH, PCLNComment!