NVR Profit Falls by 30%, But New-Home Orders Up
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NVR, the region's biggest home builder, said yesterday third-quarter profit fell 30 percent, but reported that the new orders for homes increased, a contrast with other builders.
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Weyerhaeuser Co. on Friday said its  quarterly profit more than doubled, but the results lagged  forecasts as costs rose, and its stock fell on warnings that  bad weather could dampen demand for its wood and cardboard  boxes.
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Winnebago Industries Inc.  on Friday posted a weaker-than-expected quarterly profit after buyers turned to motor homes that cost more to make and had lower profit margins when sold.
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Home Depot Inc.  forecast a bigger decline in 2007 profits on Tuesday, citing weakness in the U.S. housing market and the sale of its supply unit.
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Fleetwood Enterprises , which  makes recreational vehicles and manufactured homes, on Thursday  posted a lower-than-expected quarterly profit and said rising  gas prices and interest rates were biting into demand.
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Declining land and home values prompted home builder Hovnanian Enterprises Inc  to report results far worse than Wall Street expectations and one the important spring selling season may offer little relief.
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Investor's Business Daily - The National Assoc. of Realtors cut its &#39;07 outlook for the fourth consecutive month. Home resales will fall to 6.18 mil from last month&#39;s forecast of 6.29 mil and well below the initial 6.42 mil forecast. The median existing-home sales price will fall 1.3%, more than the previously forecast 1% slide. The median new-home price will fall 2.3% to $240,800, reversing the Jan. forecast for a 2% gain, NAR said.
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Withdraws guidance for 2007 Circuit City had a crap first quarter, losing $54.6m, against net income of $6.4m same time last year. Net sales fell 4.3 per cent, driven by a comparable store sales decline of 5.6 per cent. Gross profit margins fell 1.9 per cent on lower merchandise margins and lower take-up of extended warranties.â¦
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Burlington Northern Santa Fe BNI.N,  the No. 2 U.S. rail group, on Tuesday reported a sharp drop in  net profit after taking a charge related to a change in the way  it estimates asbestos and environmental liabilities, but posted  record quarterly revenue.
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New-home sales in November dropped 9 percent from the previous month, and were down 34 percent from a year earlier, more dismal figures for an industry facing bloated inventory, declining prices and mortgage woes.
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The virtualization specialist reports a sharp rise in earnings, but its sales fall short of what some analysts had been expecting. Shares fell more than 25 percent in after-hours trading.
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Orders for costly manufactured goods in July posted the biggest gain in four months. New-homes sales, meanwhile, slid, according to a pair of reports.
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The parent of the Olive Garden and Red Lobster chains reported a nearly 30 percent drop in its quarterly net earnings on Tuesday.
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The chemical maker reported a quarterly profit that was lower than expected, in part due to weak demand from the housing and auto markets.
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The company said on Friday that its profit fell on price declines for its mainstay computer memory chips, but expressed confidence a rebound in the market would bolster earnings.
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NEW YORK -- Sears Holdings Corp., the biggest US department store company, and Home Depot Inc. said profit will fall as the decline in housing prices hurts demand for goods to build and furnish homes.
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The Home Depot Inc., the world's largest home improvement store chain, warned Tuesday that its earnings will decline this year more than previously expected because of weak conditions in the housing market and the sale of its wholesale distribution business.