Toll Brothers Inc (TOL.N)
21 Oct 2016
Lennar Corp , the No. 2 U.S. homebuilder, said it would buy fellow Florida-based homebuilder WCI Communities Inc for about $643 million, boosting its land bank in one of the fastest improving housing markets in the United States.
* WCI has 35 days to shop for a higher offer (Adds details, analyst quote; updates shares)
Lennar Corp , the second-largest U.S. homebuilder, cut its gross margin forecast for the fourth quarter due to rising land and labor costs, problems that could weigh on rivals such as PulteGroup Inc as well.
Toll Brothers Inc's home orders in the third quarter rose the most in two years, and the company joined other large U.S. homebuilders in posting big jumps in quarterly revenue, underscoring steady growth in the U.S. housing market.
* Homebuilder stocks boosted by strong new home sales data (Adds background, share movement)
Aug 23 U.S. luxury homebuilder Toll Brothers Inc reported a 23.5 percent rise in quarterly revenue, boosted by an increase in home sales and prices.
* Says entered into amendment to certain credit agreement dated as of February 3, 2014 - SEC Filing
* Indexes end up: Dow 1.22 pct, S&P 1.37 pct, Nasdaq 2.0 pct (Adds details from after the bell)
* Indexes end up: Dow 1.22 pct, S&P 1.37 pct, Nasdaq 2.0 pct (Updates to close)
* Indexes up: Dow 1.18 pct, S&P 1.28 pct, Nasdaq 1.89 pct (Updates to afternoon)