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Homebuilders' shares unexpectedly rallied late Wednesday following a broad market rebound.
Builders' shares had been in the red earlier in the day, after one major analyst turned very cautious on the housing sector and downgraded a host of major names. But a late-day boost, likely helped by short-sellers covering their positions, sent the Philadelphia Housing Index up 3.3%.
Shares of Pulte Homes (PHM Quote) rose 6.1% to $37.33, and Centex (CTX Quote) jumped 5.5% to $64.11 ...
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