This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks in Motion: Homestore

Shares of Homestore (HOMS) were among Nasdaq's winners Monday, rising 12% after private equity firm Elevation Partners agreed to invest $100 million in the online real estate company.

Elevation, which focuses on media and entertainment-related investments and counts rock star Bono among its partners, will invest $100 million in the form of convertible preferred stock. Fred Anderson and Roger McNamee, managing directors and co-founders of Elevation, will join Homestore's board of directors. "Homestore fits perfectly with our investment strategy. The online real estate media opportunity is very large and Homestore is the undisputed leader in the category," Anderson said in a statement.

The preferred stock is convertible into Homestore's stock at $4.20 a share. If converted, the investment would represent about 14% of Homestore's outstanding shares. Homestore plans to use the proceeds for general corporate purposes. Shares were recently trading up 43 cents to $3.99.

Conn's (CONN - Get Report) rose 8% after the home-appliance and electronics retailer reported strong third-quarter sales results. Sales for the quarter rose to $153 million from $115.1 million in the year-ago period. Same-store sales, meanwhile, climbed 23.2%. The retailer, which operates stores in Texas and Louisiana, said hurricanes Katrina and Rita resulted in the loss of 134 store days, but sales were ultimately helped by the disasters as customers replaced damaged appliances and electronics. Shares were up $2.71 to $34.66.

Shares of Lafarge North America (LAF) fell 9% after the construction materials company posted third-quarter results that were weaker than expected. The company earned $172.1 million, or $2.17 a share, on sales of $1.42 billion. Analysts expected earnings of $2.52 a share on sales of $1.49 billion. For last year's period, earnings were $165.6 million, or $2.16 a share, on sales of $1.23 billion. "Increased inflation, reduced cement plant production, and weather disruptions offset the gains we wanted to achieve this quarter," the company said.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
HOMS $0.35 0.00%
CHK $8.42 0.00%
CONN $24.60 0.00%
JBLU $26.49 0.00%
INTC $31.21 0.00%


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs