The Homebuilder sector spiked Friday as disappointing jobs report pressured the yield on the 10-year Treasury note lower. The Labor Department reported just 74,000 new jobs were created in December, the lowest in three years, and short of economists’ estimates of 200,000. The yield on the 10-year Treasury note declined 0.10 percent to 2.87 percent Friday. "For the economy overall, the jobs report was disappointing, but better news for housing demand going into 2014," said Jed Kolko, chief economist for Trulia.com. Here is how some homebuilders reacted Friday:
M.D.C. Holdings, Inc. (NYSE: MDC) shares traded in the range of $30.92 to $32.19 Friday before settling to close at $31.35. The stock appears to be facing some resistance at the $31.37 and $32.20 levels with some support at $30.93. Shares of M.D.C. Holdings have fallen approximately 18.0 percent in the past year.
More information on M.D.C. Holdings and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MDC
M/I Homes Inc. (NYSE: MHO) shares traded in the range of $25.11 to $26.30 Friday before settling to close at $25.17, a decrease of 0.51 percent. The stock appears to be facing some resistance at the $25.20 and $25.51 levels with some support at $24.82. Shares of M/I Homes have fallen approximately 8.0 percent in the past year.
More information on M/I Homes and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MHO
Meritage Homes Corp. (NYSE: MTH) shares traded in the range of $45.75 to $46.76 Friday before settling to close at $46.04, a decrease of 2.66 percent. The stock appears to be facing some resistance at the $46.26 and $46.84 levels with some support at $45.77. Shares of Meritage Homes have gained approximately 10.0 percent in the past year.
More information on Meritage Homes and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MTH
The Ryland Group, Inc. (NYSE: RYL) shares traded in the range of $42.63 to $43.77 Friday before settling to close at $43.16, an increase of 1.53 percent. The stock appears to be facing some resistance at the $43.33 and $44.56 levels with some support at $42.82. Shares of The Ryland Group have fallen approximately 13.0 percent in the past year.
More information on The Ryland Group and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RYL
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