Homebuilders/Construction
The company also anticipates its mortgage subsidiary will record a provision of $60 million for increased losses related to the mortgage market and credit exposure.
"These adjustments reflect the market's further deterioration over the quarter and the significant effects of the mortgage-market disruptions," Centex CEO Timothy Eller said in a statement. "We remain steadfastly focused on the fundamentals of selling homes and generating cash." Centex said it generated positive cash flow in the quarter. It cut its fiscal 2008 cash flow projection to $500 million from its previous forecast of $750 million, "reflecting the impact of worsening conditions in the housing market." Shares of Centex recently were down $1.18, or 4%, to $28.25.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.25 |
Oil *
103.00
|
|
DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
1.06 |
10 Yr
1.62%
SPDR Gold
151.91
|
|
-1.28%
|
-1.43%
|
-1.17%
|
-6.12%
|
Data delayed 20 minutes |
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