By Market News Video Staff, Friday, November 12, 2:25 PM ET
D.R. Horton (NYSE:DHI) shares are falling today after its fourth quarter earnings report.
The homebuilder narrowed its fourth quarter loss to $8.9 million, or $0.03 per share, compared to a loss of $234.9 million, or $0.74 per share, in the same quarter last year, as the company took fewer writedowns.
The company said it is planning on a challenging 2011, and in its earnings conference call CEO Donald Tomnitz said he doesn’t see much hope for a great real estate market come spring, typically the busiest season.
D.R. Horton shares are trading down 5.6% today.
The stock is the #2 holding of the iShares Dow Jones U.S. Home Construction Index Fund, (AMEX:ITB), at 8.72% of the portfolio.
NVR (NYSE:NVR) is the top holding, at 9.03% of the fund, while Lennar (LEN) is 7.51% of the total. Toll Brother (NYSE:TOL) and Pulte Group (NYSE:PHM) round out the top five holdings. The fund is trading down 2.5% today.
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