SPDR S&P Homebuilders (XHB) Higher On Solid New Home Numbers
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SPDR S&P Homebuilders (NYSE: XHB) posted a gain today after purchases of new single-family houses came in above consensus. New home sales in April climbed 3.3 percent to an annual rate of 343k units vs. 335k expected. March sales were revised up to 332k from 328k. Earlier in the week, existing home sales came in stronger than expected. Taken together, the recent figures represent a solid rebound in housing for April, although the sales numbers are still well below 'healthy' levels.
In other homebuilder news, today Toll Brothers Inc. (NYSE: TOL) reported Q2 EPS of $0.10, $0.06 better than the analyst estimate of $0.04. Revenue for the quarter came in at $373.7 million versus the consensus estimate of $381.96 million. They also reported FY 2012's second-quarter net signed contracts of $754.7 million compared to FY 2011's second-quarter net signed contracts of $500.9 million and 879 units.
In other homebuilder news, today Toll Brothers Inc. (NYSE: TOL) reported Q2 EPS of $0.10, $0.06 better than the analyst estimate of $0.04. Revenue for the quarter came in at $373.7 million versus the consensus estimate of $381.96 million. They also reported FY 2012's second-quarter net signed contracts of $754.7 million compared to FY 2011's second-quarter net signed contracts of $500.9 million and 879 units.
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