Sears, Home Depot hit by housing slide
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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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Stock futures fell on Tuesday as home  builder Lennar Corp.  reported a loss, suggesting a  worsening in the housing sector, while warnings from two key  retailers raised concern about consumer spending.
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U.S. stocks fell at the open on  Tuesday after profit warnings from retailer Sears Holdings  Corp.  and home builder D.R. Horton Inc  as the  housing slump took its toll, raising concerns about the  quarter&#39;s earnings outlook.
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U.S. housing starts fell 3.7 percent in November, with construction of single-family homes sliding to the lowest level in more than 16 years as builders scrambled to cope with a deep drop in sales.
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Some of the biggest U.S. home builders reported large quarterly losses on Wednesday on big charges for lower property values and said orders continued to crumble, underlining the weaker U.S. housing market.
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Retailer Home Depot Inc.  is  stepping up its share repurchases as Wall Street grows more  cautious on home-goods companies in light of higher energy  costs and weakening U.S. home sales.
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Stocks declined on Wednesday after retailer Target Inc  cut its December sales view and a private report on U.S. home prices suggested the housing slump was far from over.
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Stocks fell on Wednesday after weak employment data and a record drop in a home sales index heightened concern that turmoil in the subprime mortgage market was hurting the wider U.S. economy.
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Since April, when investors voiced optimism that the housing slide had been contained, shares of the countryâs biggest department store chains have fallen by about 30 percent.
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U.S. stocks fell on Thursday as warnings of losses stemming from bad home loans by two of the top three U.S. subprime mortgage lenders hurt shares of home loan companies and banks like Citigroup Inc.
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US home improvement chain Home Depot says a US housing market slowdown led to a drop in profits for 2006.
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Stocks closed lower on Wednesday, after reports showed a deepening housing slump spreading into the job market and slowing consumer spending.
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Business & money: Housing market slows as mortgage approvals fall.
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NEW YORK -- American shoppers took a breather last month as the worst housing recession in 16 years eroded demand for building materials, appliances, and furniture.
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Stocks slid on Monday as worries about the housing slump's impact on the economy rattled investors, driving down shares of bellwethers such as Caterpillar Inc .
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U.S. stocks fell on Thursday after worries about bad mortgage debts hit bank shares and a warning from luxury home builder Toll Brothers Inc.  reignited concern about the erosion of the housing market.
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Markets fell on Friday as  losses stemming from subprime home loans  struck two prominent players in the financial industry.