Real estate market red hot: Pro Bob Wetenhall, RBC Capital Markets & homebuilders analyst, joins David Crowe, Nat'l Association of Homebuilders, to discuss their outlook in the housing industry.
Report boosts homebuilder shares The Commerce Department report shows that housing starts last month increased 20.2 percent for the month, to an annual rate of 1.14 million homes. "The housing market comes back in the spring, is what realtors always say, and boy is this true today," said Christopher Rupkey, chief financial economist at MUFG Union Bank, in a note to clients. The report helped lift...
Source: The Associated Press
| By: By The Associated Press
WRAPUP 2-Robust U.S. housing data offers hope for Q2 growth WASHINGTON, May 19- U.S. housing starts jumped to their highest level in nearly 7-1/ 2 years in April and building permits soared, hopeful signs for an economy that is struggling to regain strong momentum after a dismal first quarter. "The stronger starts and permits data suggests that some real gauges of economic activity may finally be starting to accelerate...
| By: Lucia Mutikani
Asia stocks mostly rise as dollar gains after robust US data Wal-Mart Stores fell after reporting weak sales and a drop in quarterly earnings, a result of raises for workers and a rising dollar squeezing its profits. Wal-Mart's stock sank $3.49, or 4 percent, to $76.43. "But it hasn't felt like it," said Hank Smith, chief investment officer at Haverford Trust.
Source: The Associated Press
HIGHLIGHTS-Hedge funds cut eBay, Leonard Green hot on Shake Shack NEW YORK, May 15- Top U.S. hedge fund management firms, including Dan Loeb's Third Point LLC and Farallon Capital Management, trimmed some of their equity exposure in eBay Inc, but kept high positions in the e-commerce company's shares during the first quarter, according to regulatory filings. MD Sass Investors Services Inc liquidated its position in eBay,...
| By: Sam Forgione
US STOCKS-Wall St up in afternoon trading; Visa, MasterCard jump *Visa, MasterCard rise as China opportunity seen. Visa gained as much as 7.1 percent to hit a record of $69.98, while MasterCard came shy of its all-time high, after China said it would open up its market to foreign firms for clearing domestic bank card transactions. MasterCard rose as much as 5.3 percent to $92.43.
| By: Tanya Agrawal
D.R. Horton results signal return of first-time home buyers April 22- D.R. Horton Inc's quarterly results gave a strong indication that first-time home buyers are finally returning to the market as home ownership in the United States becomes cheaper than renting. D.R. Horton said sales to this demographic tripled in the quarter ended March 31, helped by more relaxed mortgage rules and rising confidence in the wider...
| By: Sagarika Jaisinghani and Ankit Ajmera
WRAPUP 2-U.S. home sales vault to 18-month high as supply improves WASHINGTON, April 22- U.S. home resales surged to their highest level in 18 months in March as more homes came on the market, a sign of strength in housing ahead of the spring selling season. The fairly upbeat report from the National Association of Realtors on Wednesday implied the economy was regaining some momentum after hitting a speed bump at the start of the...
UPDATE 2- Homebuilder D.R. Horton forecasts drop in margins, shares fall April 22- D.R. Horton Inc, the largest U.S. homebuilder, reported its slowest growth in average selling prices in over three years and the company forecast a drop in gross margins for the current quarter as it sells more lower-priced homes. D.R. Horton said sales in its lower-margin' Express' homes business, which caters mainly to first-time home buyers, are expected...
| By: Ankit Ajmera