Pulte Homes (PHM) reported a net loss of $361.4 million or $1.15 per share, inclusive of approximately $86.7 million of charges and transaction costs associated with its merger with Centex Corporation and $163.8 million in inventory impairments and other land-related charges. This compares to a net loss of $280.4 million, or $1.11 per share, including impairments and land-related charges of $266.6 million in the third quarter of 2008. The company continues to suffer from economic weakness, foreclosures, rising unemployment and recent uncertainty over the expiration of the federal tax credit -- all of which negatively impact buyer behavior. Segment Performance Revenue from Homebuilding settlements shrank 27% to $1.1 billion. The decline in revenue reflected a 23% decrease in closings to 4,166 homes, coupled with a 10% decrease in average selling price to $253,000. However, revenue and closings for the period benefited from the inclusion of ...

DrStockPick.com Stock Report!

Tuesday September 8, 2009

**************************************************************

Doug Foshee, president and chief executive officer of El Paso Corporation (NYSE: EP), will present tomorrow, September 9, at the Barclays Capital CEO Energy/Power Conference in New York. The presentation will begin at 9:05 a.m. EDT, 8:05 a.m. CDT with an audio webcast available in the Investors section of El Paso’s Web site at www.elpaso.com. Presentation slides will be available prior to the presentation also in the Investors section of the company’s Web site.

Michigan Heritage Bancorp, Inc. (OTC Bulletin Board: MHBC) today announced that it has called a special meeting of shareholders to

...