Market Currents

• Friday, November 20, 2009

• 09:15 AM Premarket gainers: NLST +11%. INO +11%. STEM +5%. DDS +5%. SYAX +4%. SJM +4%.
  Losers: ADCT -17%. TYH -16%. EDC -15%. ERX -12%. NVAX -10%. WTSLA -9%. BCRX -7.5%. CHOP -9%. DELL -7%. DHI -7%. LOGM -7%. DRYS -6%. NGD -5%. XOMA -5%. AMSI -5%. ING -4%. PHM -4%. AAI -4%. BCS -4%. EGLE -4%. 1 Comment

• Wednesday, November 4, 2009

• 07:12 AM Pulte Homes (PHM): Q3 EPS of -$1.15 misses by $0.46. Revenue of $1.09B (-30%) vs. $1.23B. Says results "reflect a homebuilding industry that continues its transition toward more stable market conditions as lower prices and historically low mortgage rates are helping to support homebuyer demand. Challenges remain, however, as economic weakness, foreclosures, rising unemployment and recent uncertainty over the expiration of the federal tax credit continue to influence buyer behavior." (PR) 1 Comment
• 00:05 AM Notable premarket earnings: ABK, ADP, AGU, BDX, BHI, CMCSA, DVN, FWLT, GRMN, HUN, IAG, LIZ, MFA, MMC, PHM, PWR, RDN, RIG, RRD, TAP, TEL, TOT, TRW, TWX, WTR, XTO 1 Comment

• Tuesday, August 18, 2009

• 14:01 PM Shareholders of both Pulte Homes (PHM +0.4%) and Centex (CTX +0.6%) overwhelmingly approve Pulte's takeover to create the nation's largest homebuilder, in a deal estimated at $1.5B. 1 Comment

• Monday, August 3, 2009

• 17:10 PM Pulte Homes (PHM): Q2 EPS of -$0.74 misses by $0.17. Revenue of $679M (-58%) vs. $647M. Shares -0.5% AH. (PR) Comment!
• 00:10 AM Notable earnings after Monday's close: APC, ARNA, ATML, AXS, CHK, CRK, CTX, EXR, FST, HOLX, PFG, PHM, STEC, VMC, WMS Comment!

• Thursday, July 23, 2009

• 11:14 AM Homebuilder stocks are strongly higher after encouraging home sales data, and a solid quarter from Standard Pacific (SPF) yesterday afternoon. SPF +13%. LEN +7.8%. MHO +6.4%. MTH +6.3%. CTX +3.1%. PHM +3%. SPDR Homebuilders ETF (XHB) +4.3%. Comment!

• Tuesday, May 5, 2009

• 15:10 PM Notable earnings after Tuesday's close: ARM, ATML, BRE, CEDC, CEPH, CRL, CTX, CUZ, DEI, DIS, ERTS, HLX, HRS, KGC, LNC, LVS, ONNN, PHM, PXD, UDR, UPL, VCLK, XCO Comment!
• 00:10 AM Notable earnings after Tuesday's close: ARM, ATML, BRE, CEDC, CEPH, CRL, CTX, CUZ, DEI, DIS, ERTS, HLX, HRS, KGC, LNC, LVS, ONNN, PHM, PXD, UDR, UPL, VCLK, XCO Comment!

• Thursday, April 30, 2009

• 13:24 PM Eli Broad, the billionaire who founded U.S. homebuilder KB Home (KBH), says mortgage rates need to drop below 4% (now 4.8%) to make a meaningful dent in a glut of foreclosed properties. Broad predicts Pulte Homes' (PHM) April 8 deal to buy Centex (CTX) won't be the last. 2 Comments

• Wednesday, April 8, 2009

• 08:33 AM CTX (CTX) +28.6% to $9.95 after announcing it will be acquired by Pulte Homes (PHM) for about $10.50/share. PHM -0.7%. Other homebuilders are up on the news: BZH +17%. HOV +16%. LEN +9%. KBH +7%. RYL +3%. Comment!
• 07:27 AM Centex, Pulte get homey. Centex (CTX) and Pulte Homes (PHM) will merge, creating America's largest homebuilder, with Centex shareholders receiving 0.975 shares of Pulte for every Centex share they own. That amounts to $10.50 based on yesterday's close - a 32.6% premium. CTX +23% premarket to $9.37. Comment!

• Wednesday, February 4, 2009

• 16:43 PM Pulte Homes (PHM): Q4 EPS of -$1.33 vs. consensus of -$0.71. Revenue of $1.65B (-43.1%) vs. $1.44B. Ends quarter with $1.7B in cash, no debt. (PR) Comment!
• 15:10 PM Notable earnings after Wednesday's close: AIZ, AKAM, ATML, ATW, AVB, BMC, CBL, CNQR, CSCO, EFX, EOG, EQR, FMC, HAR, HRS, NDN, NVLS, ONNN, PHM, PRU, REG, SUN, THQI, TMK, V, XRAY Comment!
• 00:10 AM Notable earnings after Wednesday's close: AIZ, AKAM, ATML, ATW, AVB, BMC, CBL, CNQR, CSCO, EFX, EOG, EQR, FMC, HAR, HRS, NDN, NVLS, ONNN, PHM, PRU, REG, SUN, THQI, TMK, V, XRAY Comment!

• Friday, October 24, 2008

• 09:08 AM Gapping down: LVS -25.7%. ESLR -21.4%. PHM -19.5%. JRCC -19.3%. DDR -19.3%. MBI -18.9%. VIP -16.7%. Comment!