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

Pulte Homes Left Out in the Cold; Posts Loss

BLOOMFIELD HILLS, MICH. ( TheStreet) -- Pulte Homes (PHM - Get Report) didn't get the memo that the housing market is about to make a comeback.

The home builder widened its loss in the second quarter to $189.5 million, or 74 cents a share, compared with a loss of $158.4 million, or 63 cents, in the year-ago period. Analysts expected a loss of 57 cents.

Revenue more than halved to $679 million from $1.63 billion in the year prior.

Shares of Pulte ended the day up 3% to $11.76, but fell 1% in after-market trading.

In contrast to Pulte's troubles, Rival Centex (CTX) swung to a first-quarter profit, even as revenue was nearly halved.

Likewise, earlier today, the Commerce Department announced that construction spending increased 0.3% in June, surpassing analysts' forecast.

-- Reported by Jeanine Poggi in New York.

Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CTX $26.35 -0.19%
PHM $22.19 -0.67%
AAPL $124.75 -1.13%
FB $80.78 -1.86%
GOOG $524.05 -1.83%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs