Earnings Preview: Pulte Homes To Post 3Q Results
LOS ANGELES (AP) ¿ Homebuilder Pulte Homes Inc. reports earnings for the third quarter on Wednesday. The following is a summary of key developments and analyst commentary related to the period:
OVERVIEW: Pulte, based in Bloomfield Hills, Mich., has operations in 29 states. Its Del Webb brand is the nation's largest builder of communities for adults age 55 and over. The company has posted losses in each of the past 11 quarters.
Like other builders, Pulte continues to grapple with competition from heavily discounted foreclosed properties and a market that remains hampered by tighter mortgage-lending standards and high unemployment.Still, it has seen new home orders pick up this year, thanks in part to low mortgage rates and a tax credit of up to $8,000 for first-time homebuyers. The tax credit due to expire at the end of this month. The looming expiration of the tax credit helped fuel builders' sales during much of the third quarter, but the impact of the incentive began to wane by September as it became less likely buyers could close a deal in time to qualify for the credit.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV