Lots of stocks reporting at the moment, but a few that stood out from the noise were DR Horton (DHI, Financial), Fossil Group (FOSL, Financial) and Dow Chemical (DOW, Financial).
DR Horton, the biggest house builder in the U.S., reported a 25% jump in sales and 38% jump in orders last week, beating the industry that reported new housing starts up 6.3% in September. CEO David Auld said, “We feel pretty good about kind of where we are in the market and what’s taking place out there. If we just execute and do what we can do on a day-to-day basis, we should have a great three-year to five-year run.” The company is priced on a historic PE of 16.41 with historic annual EPS growth of 34%.
Fossil reported Q3 figures with a 24% increase in EPS to $1.96 and beating consensus forecasts by almost 8%. The results were boosted by a strong result in jewelry that saw revenues grow 23% and Europe 15% and Asia-Pacific 11%. The company also announced it had renewed its license to manufacture Michael Kors watches and jewelry for an additional 10 years and also that it is working with Intel to develop wearable computing and connected watches. The company currently trades on a PE of 15.78 despite historic annual growth of over 24%.
Dow Chemical Company Director Paul Polman bought $1 million of stock after upbeat earnings release. Adjusted earnings per share in the three months ended September 30 were $0.72 cents, surpassing expectations for earnings of $0.67 cents per share. This compares with adjusted earnings of $0.50 per share in the same quarter last year.
The author is a blogger for SurgingEarnings.com
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Disclosure: The author holds no positions in any of the stocks mentioned nor has any intentions to initiate any in the next 72 hours.
