Housing Bubble? Take A Look At This Homebuilder
Stocks are higher on solid economic data and an
excellent report from a major homebuilder.
Q1 preliminary GDP rose 3.5%, more or less in-line. Jobless claims for the
week of 4/21 rose 1000 to 323K, slightly less than expected
crude over $51.
The euro made a 7-month low vs. the dollar.
Toll Bros.
(
TOL |
Quote |
Chart |
News |
PowerRating) beat by 0.22 and guided higher. Net income more than
doubled. The company has a $5.87 billion backlog and says it has pricing power.
Also, the company owns land across the country–“land banking.”
Costco
(
COST |
Quote |
Chart |
News |
PowerRating) beat by a penny. Sales rose 10%.
The Fed’s Edward Gramlich said the U.S. economy may be “through the
soft patch.”
Strong sectors are:Â Homebuilders
(
$HGX.X |
Quote |
Chart |
News |
PowerRating) +2.85%Â Â Â
Airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) +1.84%Â Â Â Semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating)
+1.71%Â Â
Weak sectors are:Â Gold Â
(
$XAU.X |
Quote |
Chart |
News |
PowerRating)
-0.66%Â Â Â
Dow | +65.85 | 10,523.65 |
Nasdaq | +17.71 | 2067.83 |
S&P 500 | +7.18 | 1197.19 |
The dollar is +0.39 at
86.74
Crude Oil is -0.37 at
51.35
Gold is -1.50 at 417.60
ce=”Arial” size=”2″ face=”Arial”>Volume is 648 million on the NYSE and
692 million on the Nasdaq.
Market breadth is positive.
NYSE | Issues | |
Advancing | 2239 | Up Vol 476 |
Declining | 796 | Down Vol 103 |
2.81 | 4.62 | |
Nasdaq |
||
Advancing | 1932 | Up Vol 497 |
Declining | 856 | Down Vol 124 |
2.25 | 4.00 |
Stocks in the News
Petco
(
PETC |
Quote |
Chart |
News |
PowerRating) was in-line at 0.32 but was light on revenues.
Express Scripts
(
ESRX |
Quote |
Chart |
News |
PowerRating) declared at 2:1 stock split.
Michael’s Stores
(
MIK |
Quote |
Chart |
News |
PowerRating) beat by 0.04. Q1 profits rose 59%.
UBS started Teva Pharmaceuticals
(
TEVA |
Quote |
Chart |
News |
PowerRating) with a buy.
Dollar General
(
DG |
Quote |
Chart |
News |
PowerRating) missed by 0.02. Revenue was 1.98 billion.
Elan’s
(
ELNE |
Quote |
Chart |
News |
PowerRating) CEO said the return of Tysabri is a
question of “when” not “if.”
Hormel
(
HRL |
Quote |
Chart |
News |
PowerRating) missed by 0.02.
Heinz
(
HNZ |
Quote |
Chart |
News |
PowerRating) beat by a penny.
Johnson & Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating) will not receive an approvable letter for
their Alzheimer drug Risperdal.
Novell
(
NOVL |
Quote |
Chart |
News |
PowerRating) missed by 0.03, ex-items, widening its quarterly
loss.
Brice Wightman
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