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23.07.2019 22:30:00

Why PulteGroup, Intra-Cellular Therapies, and Clear Channel Outdoor Slumped Today

The stock market climbed sharply on Tuesday, responding favorably to strong earnings reports from some of the biggest companies in the U.S. economy. Upbeat comments on the trade front also helped lift sentiment, as investors increasingly believe that U.S. negotiations with China could eventually bear fruit. However, some companies had to deal with bad news that sent their shares lower despite the broader market's gains. PulteGroup (NYSE: PHM), Intra-Cellular Therapies (NASDAQ: ITCI), and Clear Channel Outdoor (NYSE: CCO) were among the worst performers. Here's why they did so poorly.Shares of PulteGroup fell 8% after the homebuilder announced its second-quarter financial results. The company said that home sale revenue declined 2% compared to the prior-year quarter, with a 3% drop in the number of closings outweighing a 1% rise in average sales prices. Earnings were also down slightly from year-ago levels, and even though net new orders did gain ground, PulteGroup's forecast for full-year home sales wasn't as ambitious as investors had hoped to see -- especially given the company's upbeat remarks three months ago. The big decline in mortgage rates has helped make housing more affordable, but even that might not prove to be enough if new buyers don't materialize.Image source: Getty Images.Continue reading
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Analysen zu PulteGroup Incmehr Analysen

23.08.19 PulteGroup Buy Seaport Global Securities
24.04.19 PulteGroup Neutral BTIG Research
24.10.18 PulteGroup Neutral BTIG Research
22.10.18 PulteGroup Hold Deutsche Bank AG
27.07.18 PulteGroup Sell BTIG Research

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Aktien in diesem Artikel

Intra-Cellular Therapies Inc 8.69 -1.96% Intra-Cellular Therapies Inc
PulteGroup Inc 38.79 -0.17% PulteGroup Inc

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