D.R. Horton Inc (DHI)
21 Feb 2019
U.S. homebuilder PulteGroup Inc reported its worst quarterly fall in orders since 2013 on Tuesday and said it was having to spend heavily on incentives for buyers, weakening its margins, in the face of the shakiest outlook for spring sales in years.
* Shares fall as much as 7.1 pct (Adds CEO quote, analyst comment; Updates share price)
D.R. Horton Inc held out hope on Friday of improved demand for its homes in the spring selling season after a tough few months where higher prices and mortgage rates kept some buyers out of the market.
* Orders rise 2.7 pct in reported quarter (Adds details from conf call, analyst comment, background; Updates share price)
Jan 25 U.S. homebuilder D.R. Horton Inc reported a 51.7 percent rise in quarterly profit on Friday, driven by increased demand for new houses as mortgage rates showed some signs of moderating from multi-year highs.
Lennar Corp said on Wednesday it was seeing an improvement in home sales in its new fiscal year as mortgage rates start to ease and posted earnings ahead of expectations, allaying concerns of a slowdown in the broader U.S. housing market.
* Wynn Resorts pulls other casino operators lower on Macau warning
* Wynn Resorts pulls down other casino operators on Macau warning
D.R. Horton shares fell more than 10 percent after the largest U.S. homebuilder forecast first-quarter home sales below analysts' estimates on Thursday, the latest sign that rising mortgage rates and higher home prices are weighing on the housing market.
* Shares fall more than 10 pct; weigh on sector (Adds details from the call, updates shares)