This is where PHM is going to have a problem.
"$31 mm non-recurring gain from sale of Mexican mortgage company. That's 11 cents per share."
They would have come up short by .05, as pointed out by dbnyy07.
CTX pulled the same stunt.
"Analysts had expected earnings of $3.11 per share, according to Reuters Estimates. But investors were unclear as to what number to compare that to given the company's sale of its sub-prime mortgage business, which accounted for 12 cents per share, Gangl said."
I'm so sure that Pulte is going to lose strength going into the summer that I would consider adding in the $42 to $43 range ($44 to $45 is where have shorts placed),
Bring on the Poopers!
the fed can't slow the overall housing machine down, it's behind the curve on this front.
I have yet to see a sustained challenge to my short since I put it on, will this change now if PHM comes out after the close and produces numbers that will keep today�s rally going?
Yes the Fed will not take one number as the gospel but they are no less concerned over the new starts.
He didn't like the fact that the economists were telling him not worry, that consumer confidence and March existing housing sales were going to come in weaker. Wrong on both fronts.
Ben is putting his finger back on the RAISE button tonight.
Did not see him.
I agree with the thinking though. The market went crazy over the idea that the Fed was finished. Look at this 10 year chart of the DOW.
Something�s gotta give, it can't go on forever that energy stays at these levels and the DOW is close to making a new decade high. Either energy does a major correction or the DOW does. I remember when they were saying that $50 oil was the death nail for the economy...someone is in denial. Who will blink first?