This Day On The Street
Continue to site
ADVERTISEMENT
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

Earnings Preview: Pulte Homes To Post 3Q Results

ALEX VEIGA

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.

1 of 4

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!
SYM TRADE IT LAST %CHG
CTX $26.25 -0.38%
PHM $19.87 -1.24%
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.37 -1.71%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs