Grasshopper are you still hiding out in one of the Pulte home basements after their earnings report...........
And the market says back to the $18's and $17 coming soon and could even test $14.75......... Oh Oh
How's my little grasshopper .............
Housing starts unexpectedly plunged 9.3% to an annualized rate of 893,000.
Building permits unexpectedly fell 4.2% to 963,000.
Economists estimated starts would climb by 1.9% and permits would gain 3.0%.
Stock market continues to make new record highs. Looks like home builders growth not booming like in past recessions and PHM still bouncing below $20.
Looks like consumers have hit the wall.......... and coming soon higher insurance costs due to ObamaCare will be passed on to employees of private companies. Employees will see sticker shock when they renew their policies for 2015.
DAYTON, Ohio--(BUSINESS WIRE)--
Standard Register (SR) today announced that on July 9, 2014, it was notified by the New York Stock Exchange (NYSE) that it is not in compliance with the NYSE’s continued listing standards. Standard Register is considered below the criteria since the Company’s average market capitalization was less than $50 million over a 30 trading-day period and at the same time its stockholders’ equity was less than $50 million.
“We are realizing the benefits of the acquisition of WorkflowOne, including strengthening sales pipelines across our solutions portfolio, as we continue with the integration. We anticipate at least $40 million in annual savings when complete at the end of 2015, and look forward to sharing our progress and future plans for long-term value creation with the NYSE,” said Joseph P. Morgan, Jr., president and chief executive officer.
In accordance with NYSE procedures, Standard Register has notified the NYSE that it will submit a business plan within 45 days from receipt of the NYSE notice that demonstrates the Company’s ability to regain compliance. Upon receipt of the plan, the NYSE has 45 days to review and determine whether the Company has made a reasonable demonstration of the ability to come into conformity with the relevant standards. Assuming the NYSE accepts the plan, it will determine the appropriate period for the Company to regain compliance.
Just reporting the facts......... if housing was booming like many think it is there should be 15k to 20k new construction jobs created. The builders are constructing less units than last year. Looks more like a slowdown.......
After all construction jobs include a large category in which new homes is a small part of the whole. Way short of a so called booming housing market...........
I wonder if he's using a Standard Register so called electric pen............
The spring recovery in home sales gained further ground in May. Signed contracts to buy existing homes surged 6.1 percent from April, as home prices began to ease slightly. This is the largest monthly gain since April 2010, just before the end of the popular first-time home buyer tax credit. Despite the monthly gain, the so-called Pending Home Sales Index from the National Association of Realtors is down 5.2 percent from May of 2013.
"Sales should exceed an annual pace of five million homes in some of the upcoming months behind favorable mortgage rates, more inventory and improved job creation," said Lawrence Yun, chief economist for the Realtors. "However, second-half sales growth won't be enough to compensate for the sluggish first quarter and will likely fall below last year's total."
There are 4 insiders holding 10% or more shares. I'm sure they are trying to protect their investments by pushing the stock up in price so the stock remains on the NY exchange.
Buy trade at 9:33am for 5,200 shares at $6.24. Why would somebody pay that kind of premium unless SR's 401K plan made a stock purchase or the stock is being propped up.
Wow, Obama claims there's 57 states so you must cover a lot of ground with him...
Grasshopper, I couldn't resist.
BEACON ROOFING SUPPLY INC reported a larger 1Q loss than expected and sales were down -7%.
Just for you grasshopper.......
Poor grasshopper still in denial even when presented with the facts. Housing reached the peak last year in the number of existing and new units. Even those numbers were not really considered a healthy housing market.
Obama's bad economic policies continue to shackel the economy from real growth and real jobs.
Despite the consecutive months of gains, sales were down 5.0 percent compared to May last year. They remain down 9 percent from a peak of 5.38 million units hit in July.
The weakness in roofing volumes experienced in the first quarter continued through April and May, and the company now estimates that roofing volumes for the first half of 2014 may be as much as 20 percent lower than first-half 2013 volumes. The company expects to recover a portion of this volume shortfall in the second half of the year. However, continued weakness in the second quarter has introduced further uncertainty in the full-year financial outlook for the company's roofing business.
The two-year-old U.S. housing recovery is faltering.
The Mortgage Bankers Association yesterday lowered its new and existing home sales forecast for 2014 to 5.28 million -- a decrease of 4.1 percent that would be the first annual drop in four years. The industry group also cut its prediction on mortgage lending volume for purchases to $751 billion, an 8.7 percent decline and the first retreat in three years.
Bullish forecasts in early 2014 from MBA, Fannie Mae and Freddie Mac have been sideswiped by rising home prices and an economy that isn't producing higher paying jobs. The share of Americans who said they planned to buy a home in the next six months plunged to 4.9 percent last month from 7.4 percent at the end of 2013, the highest in records going back to 1964, according to the Conference Board, a research firm in New York.
"The big housing rally wiped itself out because prices increased too quickly for buyers to keep up," said Richard Hastings, a consumer strategist at Global Hunter Securities LLC in Charlotte, North Carolina, who predicted the slowdown eight months ago. "The pool of eligible new buyers is collapsing" because of stagnant incomes and lack of credit, he said.
The best-qualified homebuyers jumped into the market last year to grab near-record low mortgage rates that averaged about 3.5 percent after delaying their moving plans during the housing slump, said Nariman Behravesh, chief economist of IHS Inc., a research firm based in Englewood, Colorado.
As prices climb, the ability of Americans with stagnant wages to buy homes wanes.
The median U.S. household income rose less than 1 percent in 2013, according to data from Sentier Research LLC in Annapolis, Maryland. In April, the median income was $52,959. When adjusted for inflation, that's almost 6 percent lower than in June 2009, which marked the beginning of the economic recovery, said Gordon Green, a Sentier partner who formerly directed the Census Bureau office.