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BUSINESS
November 26, 2008 | Times Wire Reports
D.R. Horton Inc., the largest U.S. home builder, reported a sixth straight loss in its fiscal fourth quarter as record foreclosures and tighter lending deepened the housing slump. But its shares rose $1.90, or 38%, to $6.90 after the Federal Reserve took steps to unfreeze credit for home buyers. The company's loss widened to $799.9 million, or $2.53 a share, in the quarter ended Sept. 30 from $50.1 million, or 16 cents, a year earlier, Fort Worth-based Horton said. Analysts had forecast a loss of $2.04 a share, according to the average estimate in a Bloomberg survey.
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BUSINESS
November 26, 2008 | Times Wire Reports
D.R. Horton Inc., the largest U.S. home builder, reported a sixth straight loss in its fiscal fourth quarter as record foreclosures and tighter lending deepened the housing slump. But its shares rose $1.90, or 38%, to $6.90 after the Federal Reserve took steps to unfreeze credit for home buyers. The company's loss widened to $799.9 million, or $2.53 a share, in the quarter ended Sept. 30 from $50.1 million, or 16 cents, a year earlier, Fort Worth-based Horton said. Analysts had forecast a loss of $2.04 a share, according to the average estimate in a Bloomberg survey.
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BUSINESS
November 5, 2008 | The Associated Press
After the stock markets closed Tuesday with all eyes on the presidential election, home builder D.R. Horton Inc. warned investors that it expected to lose as much as $900 million in its fiscal fourth quarter -- about 18 times as much as in the prior-year period. D.R. Horton, one of the nation's largest home builders, projected a loss for the quarter ended Sept. 30 of $800 million to $900 million, including an expected tax benefit of $350 million. That works out to about $2.53 to $2.84 a share.
BUSINESS
November 5, 2008 | The Associated Press
After the stock markets closed Tuesday with all eyes on the presidential election, home builder D.R. Horton Inc. warned investors that it expected to lose as much as $900 million in its fiscal fourth quarter -- about 18 times as much as in the prior-year period. D.R. Horton, one of the nation's largest home builders, projected a loss for the quarter ended Sept. 30 of $800 million to $900 million, including an expected tax benefit of $350 million. That works out to about $2.53 to $2.84 a share.
BUSINESS
July 11, 2007 | From the Associated Press
The spring home-selling season was a bust for D.R. Horton Inc., the biggest home builder in California. Horton said Tuesday that it would post a loss from operations for its latest quarter after net orders fell 40% and it wrote down the value of unsold houses. The report provides more evidence that the housing sector continues to sink. Inventories of unsold used homes are at their highest level in 15 years. In part, experts blame tougher rules on qualifying for mortgages.
BUSINESS
October 21, 2004 | Roger Vincent
Arden Realty Inc., the largest office landlord in Los Angeles County, purchased Warner Corporate Center in Woodland Hills for $64.5 million. The Los Angeles real estate investment trust bought the 254,000-square-foot, 12-story tower from Grosvenor, a London-based developer. The building at 21300 Victory Blvd. in Warner Center is 98% leased to such tenants as Cardinal Health Inc., First Health Group Inc., McDonald's Corp., Zurich American Insurance Co., D.R. Horton Inc., Bank of America Corp.
BUSINESS
November 21, 1999
Here are building permits valued at $350,000 and up filed recently in Orange County. MISSION VIEJO * Project: Tenant improvement Address: 500 Shops at Mission Viejo Value: $968,000 Owner: Saks Fifth Avenue NEWPORT BEACH * Project: Tenant improvement Address: 1401 Dove St., Suite 600 Value: $375,000 Owner: Impac Companies PLACENTIA * Project: Office, warehouse Address: 925 S. Lakeview Value: $1.
BUSINESS
March 24, 2000 | Bloomberg News
The five largest U.S. home builders said they will start a company to list homes and related products on the Internet, in the latest example of competing companies forming an industrywide Web alliance. The companies, Centex Corp., D.R. Horton Inc., Kaufman & Broad Home Corp., Lennar Corp. and Pulte Corp., said that the site will be open to all builders and that they expect to list more than 200,000 homes.
BUSINESS
September 9, 2006 | From Bloomberg News
Bank of America Corp.'s investment management unit plans to divest two closed-end funds with assets of $1.3 billion after returns deteriorated during the last five years. Banc of America Investment Advisors Inc., based in Boston, said Friday that it agreed to sell management of the $1.2-billion Liberty All-Star Equity Fund and $150-million Liberty All-Star Growth Fund to Alps Advisers Inc.
CALIFORNIA | LOCAL
April 21, 1995 | HOLLY J. WAGNER
The City Council has approved the sale of five acres of city-owned land just north of the Civic Center complex. Saddleback Land Development Co. will pay $2.1 million for the property, which the city bought in 1975 for $425,000. It is now leased to a strawberry farmer. Although a dozen information packages were sent to developers and consultants and 10 more to others who requested them, the city received only three bids. Saddleback's was by far the best offer. The second-highest offer was $1.
BUSINESS
July 11, 2007 | From the Associated Press
The spring home-selling season was a bust for D.R. Horton Inc., the biggest home builder in California. Horton said Tuesday that it would post a loss from operations for its latest quarter after net orders fell 40% and it wrote down the value of unsold houses. The report provides more evidence that the housing sector continues to sink. Inventories of unsold used homes are at their highest level in 15 years. In part, experts blame tougher rules on qualifying for mortgages.
BUSINESS
December 20, 2007 | From the Associated Press
dallas -- The top two executives at home builder D.R. Horton Inc. received bonuses of nearly $1.6 million each although the company suffered heavy losses in the worst housing downturn in years, according to a regulatory filing Wednesday. The bonuses made up most of the compensation paid to Chairman Donald R. Horton and Chief Executive Donald J. Tomnitz during the Fort Worth-based company's fiscal year, which ended Sept. 30. Horton, 57, got "incentive bonus payments" of $1.
BUSINESS
March 23, 2006 | From Bloomberg News
KB Home, the fifth-largest U.S. home builder by market value, said Wednesday that its fiscal first-quarter earnings jumped 42% but that orders fell as rising mortgage rates cooled the housing market. Net income in the three months ended Feb. 28 increased to $174.5 million, or $2.02 a share, from $122.7 million, or $1.41, a year earlier. Orders fell 12%, the Westwood-based company said. In the year-earlier quarter, KB Home posted a 23% gain in orders. Analysts had expected earnings of $1.
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