Tuesday, November 08, 2005

Toll Brothers Cuts Sales Outlook for 2006

The Sentinel Online - World News: "In a possible sign of trouble for the housing industry, luxury home builder Toll Brothers Inc. cut its sales forecast for fiscal 2006 Tuesday, citing delayed openings for new developments and weakened demand in several markets.
Toll Brothers' shares tumbled nearly 14 percent in trading Tuesday and the news pushed down share prices for many large homebuilders as Wall Street, already nervous about the health of the housing sector, was rattled by the news. KB Home fell 5.5 percent and Pulte Homes Inc. lost 8.9 percent."
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