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D.R. Horton's stock falls after Q4 sales data

Tomi Kilgore

Shares of D.R. Horton Inc. fell 1.9% in light premarket trade Tuesday, after the home builder provided fourth-quarter sales data that was below expectations. The company said homes closed or 11% to 14,674 homes and home sales revenue grew 9% to $4.4 billion. The FactSet consensus for home sales was $4.6 billion and for home deliveries was 15,117. Net sales orders increased 11% to 11,509 homes, and the value of sales orders rose 10% to $3.4 billion, while the FactSet consensus for new orders was 11,430 and the value of new orders was $3.5 billion. The cancellation rate increased to 26% from 25%. The company is scheduled to report full fourth-quarter results on Nov. 13. The stock has lost 2.8% over the past three months, while the SPDR S&P Homebuilders ETF has lost 8.6% and the S&P 500 has gained 3.6%.