ACHRNEWS

Web Site Reports Gains In U.S. Housing Starts

September 14, 2004
POINT ROBERTS, Wash. - HomebuilderStocks.com, an investment news and research portal, recently reported on gains in U.S. housing starts, as well as strong earnings reports from industry leaders. With records breaking and future outlook earnings boosted, speculators continue to follow the sector intensely, says the site.

HomebuilderStocks.com provides investors with news, information, public company profiles, and developing trends in the home builder sector. The site does not make stock recommendations but offers free information for investors.

According to the site, U.S. housing starts had a strong rebound in July, showing their largest monthly percentage gain since September 2002, a Commerce Department report stated. Privately-owned housing starts rose in July to a seasonally adjusted annual rate of 1.98 million, 8.3 percent above the revised June estimate of 1.83 million. Building permits were also up in July.

Lowe's Cos. Inc. announced that its second-quarter profits increased 18 percent and it boosted its third-quarter earnings outlook based on the strong housing market.

Home Depot shares went up on news that it earned $1.55 billion, or 70 cents a share, in the three months ending Aug. 1 compared to 56 cents a share in the same period a year ago.

Orleans Homebuilders reported record $2.20 earnings per share for fiscal 2004. Orleans Homebuilders develops, builds, and markets single-family homes, townhouses, and condominiums.

Publication date: 09/20/2004