ETF Trends
07-28-2008, 05:30 PM
ETF Trends - Keeping a Grip on Exchange Traded Funds (ETFs)
http://www.etftrends.com/wp-content/uploads/2008/07/mega-house-art-298x300.jpgMeritage Homes Corporation (MTH (http://finance.yahoo.com/q?s=MTH)) is expected to deliver their second-quarter earnings numbers, but investors and exchange traded funds (ETFs) aren’t exuding positivity ahead of the news.
Meritage is the 12th-largest homebuilder in the United States.
If the numbers aren’t up to par, it’s just the latest in a long list of bad news for the housing industry. Home sales and prices are falling, with the Commerce Department reporting a 0.6% drop in new single-family home sales in June, reports Alex Veiga for the Associated Press (http://biz.yahoo.com/ap/080725/new_home_sales_builders.html?.v=1). Sales are now 33% below where they were one year ago, and prices are off 2%.
Centex Corp. is also expected to report a quarterly loss tomorrow, while Pulte Homes announced a loss earlier last week.
The homebuilders ETFs are all trading sharply lower this morning, including:
FocusShares ISE Homebuilders Index Fund (SAW (http://finance.yahoo.com/q?s=saw)): down 15.4% year-to-date; MTH is 4.8%; Centex is 6.2%; Pulte is 5%
iShares Dow Jones U.S. Home Construction (ITB (http://finance.yahoo.com/q?s=itb)): down 13.4% year-to-date; MTH is 6%; Pulte is 6.2%
SPDR Homebuilders (XHB (http://finance.yahoo.com/q?s=xhb)): down 11.8% year-to-date; MTH is 4.7%http://www.etftrends.com/wp-content/uploads/2008/07/z114.png
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/348727561/homebuilder-etfs-trade-nervously-lower-ahead-of-earnings-news.html)
http://www.etftrends.com/wp-content/uploads/2008/07/mega-house-art-298x300.jpgMeritage Homes Corporation (MTH (http://finance.yahoo.com/q?s=MTH)) is expected to deliver their second-quarter earnings numbers, but investors and exchange traded funds (ETFs) aren’t exuding positivity ahead of the news.
Meritage is the 12th-largest homebuilder in the United States.
If the numbers aren’t up to par, it’s just the latest in a long list of bad news for the housing industry. Home sales and prices are falling, with the Commerce Department reporting a 0.6% drop in new single-family home sales in June, reports Alex Veiga for the Associated Press (http://biz.yahoo.com/ap/080725/new_home_sales_builders.html?.v=1). Sales are now 33% below where they were one year ago, and prices are off 2%.
Centex Corp. is also expected to report a quarterly loss tomorrow, while Pulte Homes announced a loss earlier last week.
The homebuilders ETFs are all trading sharply lower this morning, including:
FocusShares ISE Homebuilders Index Fund (SAW (http://finance.yahoo.com/q?s=saw)): down 15.4% year-to-date; MTH is 4.8%; Centex is 6.2%; Pulte is 5%
iShares Dow Jones U.S. Home Construction (ITB (http://finance.yahoo.com/q?s=itb)): down 13.4% year-to-date; MTH is 6%; Pulte is 6.2%
SPDR Homebuilders (XHB (http://finance.yahoo.com/q?s=xhb)): down 11.8% year-to-date; MTH is 4.7%http://www.etftrends.com/wp-content/uploads/2008/07/z114.png
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/348727561/homebuilder-etfs-trade-nervously-lower-ahead-of-earnings-news.html)