Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of homebuilder NVR
So what: For the quarter, NVR reported an 11% increase in revenue to $769.8 million and a profit of $8.97 as new home orders rose 6%. However, Wall Street slammed the door in NVR's face as it had been looking for revenue of $829.8 million and certainly didn't expect cancellation rates to rise from 16.3% from the 12.5% reported in the year-ago period.
Now what: Today's report is interesting in that NVR had been the one homebuilder that had escaped the downturn in housing relatively unscathed. Now, it appears that roles are reversing. Lennar
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