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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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Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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