PulteGroup Shares Rise 5.8% After Earnings Miss as Orders Fall

PulteGroup shares gained about 5.8% Thursday, Oct. 22, after the homebuilder posted lower third-quarter earnings and revenue alongside a 6% decline in net new orders, signaling weaker home-sales activity. The shares were lower before the opening bell but finished the regular session higher. PulteGroup released its results at 6:30 a.m. ET (10:30 UTC), ahead of the market open. The reversal came even as the company’s main quarterly totals fell from a year earlier and missed analyst estimates. For the three months ended Sept. 30, net income was $475.7 million, or $2.53 per diluted share.

Source: TokenPost