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DR Horton Inc. (DHI) announced its financial results for the fourth quarter and full fiscal year 2013, reporting sales and earnings that jumped sharply over last year. For the fourth quarter, pre-tax income improved 104% from $99.2M a year ago to $202.8M while net income was $139.5M and $0.40 per share, up from $100.1M and $0.30 per share last year. Revenues increased 40% to $1.8B while home closings also increased 23% to 6,866 homes, up from 5,575 last year. For the full year, revenue jumped 44% from $4.2B to $6.1B while earnings fell from $956.3M and $2.77 per share to $462.7M and $1.33 per share; however the results from last year include a $753.2M non-cash tax benefit. Chairman Donald R. Horton commented that the company performed well over the last year and is superbly positioned to continue strong growth and profitability amidst a recovering housing market.
Have shorted DHI at 18.60 today. Way too many shorts for this to go up. Nearly every gap up is a short opportunity. Big money is short and they will cover before it goes up significantly. Do think this stock will be staying down for some time. Yes they had great earnings but that has not mattered for the last three quarters. They beat every one of those quarters yet the big money has shorted more. They decide what goes up and what goes down. It will go up again some time but it may go much lower before that happens. Will have to follow the money to see. GLTA
This stock is going nowhere but up, get used to the idea, unless the US economy tanks, then all bets are off, other than that, DHI will put so much pressure on the shorts, in the next couple of quarters, they will be trampeling one another buying back shares. Nothing succeeds as success, and DHI is enjoying one successful quarter after another.