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Homebuilder Stocks

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finance2 years ago

D.R. Horton's Costly Missteps Send Stock Tumbling

D.R. Horton's stock plummeted 9.2% after revealing a $65 million mark-to-market charge for a hedge gone awry due to the unexpected costs of mortgage-rate buydowns, on top of regular buydown costs, caused by the massive swing in mortgage rates during the quarter. The company increased the use of buydowns, with 70% of its deals made with mortgage-rate buydowns in Q4, and plans to continue using them to stay competitive. The plunge in mortgage rates in November and December caused the company's hedges on those buydowns to lose market value, triggering the charge.

via WOLF STREET|
#buydowns#dr-horton#finance
finance-housing-market2 years ago

"D.R. Horton's Impact on Homebuilder Stocks and Margins"

D.R. Horton's weaker-than-expected quarterly orders and earnings per share miss led to a 9% drop in its stock, impacting the SPDR S&P Homebuilders ETF as well. The company plans to continue using mortgage rate buydowns as an incentive for buyers, despite caution over potential rate shifts. While longer-term interest rates have risen, new construction has helped boost housing inventory amid low supply in the resale market. D.R. Horton expects higher home closings this fiscal year, reflecting ongoing challenges and strategies in the housing market.

via Yahoo Finance|
#dr-horton#finance-housing-market#homebuilder-stocks
finance2 years ago

S&P 500 futures hold steady in Monday evening trading: Live updates

S&P 500 futures remained relatively unchanged in overnight trading, with Nasdaq-100 futures rising slightly and Dow Jones Industrial Average futures inching down. Homebuilder stocks, including D.R. Horton and Lennar, gained after Warren Buffett's Berkshire Hathaway revealed new positions in the companies. However, Discover Financial shares fell over 5% following the resignation of its CEO. The stock market rebounded on Monday after last week's selloff, with technology and semiconductor stocks leading the way. Wall Street is anticipating a busy earnings week for major retailers, as well as economic data on retail sales and housing market indicators.

via CNBC|
#discover-financial#finance#homebuilder-stocks