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Homebuilder earnings mixed

D.R. Horton (DHI) bucked the trend, reporting better-than-expected Q1 profit and higher home orders. Ryland (RYL) fell short on EPS, though orders rose. M/I Homes (MHO) earnings beat but new contracts fell. PulteGroup (PHM) suffered weaker-than-expected profit and lower orders, like NVR (NVR) and Meritage (MTH) earlier in the week. Higher prices are hurting sales, especially for low-end homes. D.R. Horton shares jumped 8%, M/I 9%, Pulte 2.3% and Ryland 2.6%.