Friday, February 3, 2012, 5:59 PM
Cavco (CVCO +11.9%), a maker of factory-built homes, hit a new 52-week high after reporting FQ3 revenue of $114.6M (+189% Y/Y) and EPS of $0.24. Results were boosted by Cavco's acquisition of rival Palm Harbor Homes, partly offset by seasonality.
Comment![Earnings, On the Move]
Thursday, December 29, 2011, 9:10 AM
Previously bearish big players are betting on a rebound in housing, buying the stocks and bonds of builders such as Pulte (PHM), Beazer (BZH), and Hovnanian (HOV). Ivy Zelman switches sides as well, believing higher rents will push would-be buyers out of their apartments. "The smartest money in the world has been carried out on stretchers betting on a true recovery for housing," cautions Mark Hanson.
1 Comment[U.S. Economy, Quick Ideas]
Wednesday, January 12, 2011, 11:40 AM
Home builders expect to start on 575K single-family homes this year - up 21% from 2010, but a far cry from 2005's 1.7M. Housing doesn't really look less shaky, and that NAHB forecast has a big assumption: that job growth gets more consistent.
Monday, June 21, 2010, 8:58 AM
Consumers have stopped paying mortgages so that they can cover other bills, says Meredith Whitney on CNBC, leaving banks with rotting assets and a mounting foreclosure problem. A double dip is coming in housing, "no doubt about it."
Wednesday, June 16, 2010, 12:19 PMMichael Shulman's surprised that the Street was surprised by this morning's weak housing data: "What did people expect after the expiration of the home buyer tax credit, with unemployment north of 20% in the real world, and Freddie (FRE) and Fannie (FNM) now responsible for more than 97% of all new mortgages?" Shulman believes we're only 25-33% through the foreclosure crisis.