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In yet another sign of negative sentiment surrounding the housing sector, investors gave only a slight bump to D.R. Horton (DHI Quote) Tuesday morning after the nation's largest homebuilder said orders for the latest quarter increased 33% to $3.8 billion.
The numbers beat several analyst estimates but failed to help builders recover from Monday's bloodbath. On Tuesday, D.R. Horton rose 7 cents to $31.89 and Pulte Homes (PHM Quote) added 15 cents to $36.55. But the Philadelphia Stock Exchange Housing Sector index fell 0.36%.
D.R. Horton reported that on a unit basis, orders for the quarter ended Sept. 30 rose 25% from a year ago to 13,950. Orders were up in all geographic markets. ...
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