TITLE

Rates Spur Beazer to Lower Forecast

AUTHOR(S)
Bloomberg News
PUB. DATE
September 2006
SOURCE
American Banker;9/8/2006, Vol. 171 Issue 173, p17
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Atlanta builder Beazer Homes USA Inc. has cut its earnings forecast by as much as 18%, because higher mortgage rates have prompted cancellations and lower sales. Net sales in the two months ending August 31, 2006 fell 49% from a year earlier, and the rate of contract cancellations nearly doubled, to 50%.
ACCESSION #
22285090

 

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