SeekingAlpha.com (Free subscription) | 20/11/2009
Ockham Research submits: On Wednesday we wrote a piece talking about the strange upgrade of Pulte Homes ( PHM ) by an analyst at Citigroup ( C ). At that time ( Upgrade Trumps Macro-Economics for Homebuilders ), we reiterated our Overvalued stance on Pulte, the largest in the group thanks to its acquisition of Centex, as we have that stance on most homebuilder stocks right now. In the Citigroup analysts’...
Ockham Research | The Razor's Edge (Free subscription) | 20/11/2009
The day of the Citi upgrade all homebuilder stocks got a boost despite much worse than expected housing starts data. However, Pulte has already given all of those short lived gains back and then some in just two trading days. Clearly, this is one stock that both Ockham and Cramer agree cannot be bought at this time, and the upgrade from Citi is odd and lacks any bite.
The Los Angeles Business (Free subscription) | 19/11/2009
KB Home has tapped a former Pulte Homes executive to lead its re-entry to the Washington, D.C. area. (KBH)
The Real Estate Bloggers (Free subscription) | 19/11/2009
How scary is that number, 7 Million. If it was the deficit, it would not even scratch the surface. But it is the number of homes that are essentially in a foreclosure backlog. These 7 million foreclosures represent those that are being negotiated, ones lenders are just plain ignoring, ones that are being worked out, [...] Thanks for reading this post. If you would like to see more articles like this,...
The Business Insider (Free subscription) | 19/11/2009
After publicly doubting recovery all through the summer and early fall, the housing bears are definitely getting their moment, after two key numbers (mortgages and starts) cam in particularly weak yesterday. Today the WSJ adds some further evidence that the much-feared "double dip" is happening. On Wednesday Pulte Homes Inc., the nation's largest home builder, warned investors of a grim...
SeekingAlpha.com (Free subscription) | 18/11/2009
Ockham Research submits: Wednesday morning the Commerce Department released figures that homebuilding activity in the U.S. had unexpectedly fallen in October. The reasoning was that increased joblessness in addition to doubts that the homebuyer tax credit would be renewed weighed on homebuilders. Homebuilders slipped to an annual pace of only 529,000 homes which is 11% lower than last year and the...
San Fransisco Chronicle (Free subscription) | 18/11/2009
Shares of most homebuilders were mixed in Wednesday trading after two reports gave weak readings on the current housing market. Bucking the trend was Pulte Homes Inc., which jumped after a Citi analyst said the current price of its shares didn't reflect its... Pulte Homes - Real estate economics - Business - Real Estate - Investing
ABC News (Free subscription) | 18/11/2009
Shares of homebuilders follow Pulte higher, brushing off reports showing weak housing sector Pulte Homes - United States - Centex - Housing - Business
StreetInsider.com News Articles (Free subscription) | 18/11/2009
UPGRADES: Citi upgrades Smith International (NYSE: SII) from Hold to Buy. Price target increased from $29 to $35. UBS upgrades Zimmer Holdings (NYSE: ZMH) from Neutral to Buy. Price target increased from $59 to $64. RBC Capital upgraded First Solar (NASDAQ: FSLR) from Sector Perform to Outperform. Citigroup upgrades Pulte Homes (NYSE: PHM) from Hold to Buy and raises their price target from $11 to...
MarketIntelligenceCenter.com (Free subscription) | 18/11/2009
Pulte Homes (PHM) was upgraded today by analysts at Citigroup and the stock is now at $10.07, up $0.47 (4.9%) on volume of 1,772,694 shares traded. The analysts lifted PHM to Buy from Hold. Over the last 52 weeks the stock has ranged from a low of $6.49 to a high of $13.59. Pulte Homes stock has been showing support around $9.32 and resistance i...
Market Watch (Free subscription) | 18/11/2009
BOSTON (MarketWatch) -- Pulte Homes Inc. Chief Executive Richard Dugas on Wednesday said the housing market is "still somewhat choppy" based on new-home sales and other data. "We do still have problems with move-up buyers having difficulty selling their existing homes and in the overall I would tell you the biggest problem in the market is still consumer confidence, which is one reason...
Market Watch (Free subscription) | 18/11/2009
BOSTON (MarketWatch) -- Citigroup analyst Josh Levin on Wednesday upgraded shares of Pulte Homes Inc. to buy from hold and lifted his target price by a dollar to $12. "Our upgrade is predicated largely on valuation," the analyst wrote in a report to clients. Based on the stock's roughly 20% underperformance since the Centex merger closed in August and conversations with investors, "we...
Stocks to Watch Today (Free subscription) | 18/11/2009
Citigroup (C) analyst Josh Levin cut Pulte Homes (PHM) from “Hold” to “Buy” with a $12 price target, despite an unexpected 10.6% drop in housing starts in October, according to the Commerce Department. Pulte shares are up 21 cents, or 2.2%, at $9.81. Goldman Sachs (GS) analyst Sergei Arsenyev downgraded [...]
Volume Spike Investor (Free subscription) | 18/11/2009
Pulte Homes Inc. (NYSE: PHM) could be subject to the housing starts figure later this morning, but so far shares are trading higher. Citigroup raised its rating to BUY in a research call this morning. Shares are trading up 4.7% at $10.05 on almost 40,000 shares as of 8:12 AM EST. Average volume is 7.7 [...]
Fast Company (Free subscription) | 18/11/2009
Typography by Julie Teninbaum It may be a buyer's market out there, but it isn't a broker's. Which makes this year's theme at the 2009 Realtors' Conference in San Diego (November 13 -- 16) -- "Chart a Winning Course" (keynoter: Condi Rice) -- seem both hopeful and sad. Here's a look at the business of homes. Infographic: Residential Real Estate There are 1.1 million realtors in the U.S.,...
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