NEW YORK ( TheStreet) -- The foundations for the 11 homebuilders in the PHLX Housing Sector Index were shaken on Thursday on a report that sales of new single-family homes during June missed estimates.
Also on Thursday, earnings from homebuilders D.R. Horton (DHI) and PulteGroup (PHM) missed analysts' estimates. Since my post on June 18 covering the 19 stocks in the housing sector index, shares of D.R. Horton are down 6.6%, followed by Lennar (LEN), which is down 4.9%, and Toll Brothers (TOL), which is down 4.6%.
Bigger losses in the index come from Radian Group (RDN) and Owens Corning (OC), which are both down 14% since June 17. Radian provides private mortgage insurance and Owens provides insulation, roofing and siding.
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