Latest news with #Builders
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Canada Housing Market Braces for Extended Pricing Slump
OTTAWA—Home buyers and builders in Canada are in retreat, adding to the woes of an economy struggling under the weight of President Trump's tariffs. Housing helped spur growth in Canada just prior to, and after the worst of, the Covid-19 pandemic, supporting the recovery of lost jobs and output even while masking underlying weaknesses including tepid business investment.
Bloomberg
5 days ago
- Business
- Bloomberg
US New-Home Sales Increased by Less Than Forecast in June
Sales of new homes in the US remained weak in June as builders' heavier use of sales incentives failed to motivate buyers put off by high costs. Contract signings on new single-family homes increased 0.6% to an annualized rate of 627,000 last month, according to government data released Thursday. That fell short of the 650,000 median estimate in a Bloomberg survey of economists.
Yahoo
17-07-2025
- Business
- Yahoo
Why Toll Brothers (TOL) Outpaced the Stock Market Today
In the latest close session, Toll Brothers (TOL) was up +2.6% at $116.74. The stock's performance was ahead of the S&P 500's daily gain of 0.32%. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 0.26%. The home builder's stock has climbed by 8.52% in the past month, exceeding the Construction sector's gain of 4.6% and the S&P 500's gain of 4.51%. The investment community will be closely monitoring the performance of Toll Brothers in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $3.59, reflecting a 0.28% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.85 billion, indicating a 4.56% upward movement from the same quarter last year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.95 per share and revenue of $10.93 billion. These totals would mark changes of -7.06% and +0.75%, respectively, from last year. Investors might also notice recent changes to analyst estimates for Toll Brothers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Toll Brothers is currently sporting a Zacks Rank of #3 (Hold). Looking at valuation, Toll Brothers is presently trading at a Forward P/E ratio of 8.16. For comparison, its industry has an average Forward P/E of 9.41, which means Toll Brothers is trading at a discount to the group. It's also important to note that TOL currently trades at a PEG ratio of 1.18. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Home Builders was holding an average PEG ratio of 2.23 at yesterday's closing price. The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 177, positioning it in the bottom 29% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Toll Brothers Inc. (TOL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Cision Canada
01-07-2025
- Business
- Cision Canada
Algorand Foundation Announces Launch of Wormhole Native Token Transfers, Enabling Multichain Interoperability for Algorand
Integration of Wormhole's NTT standard, led by Folks Finance, unlocks seamless cross-chain token transfers and sets the stage for Algorand's next phase of multichain growth SINGAPORE, July 1, 2025 /CNW/ -- The Algorand Foundation today announced the integration of Wormhole's Native Token Transfers (NTT) standard on the Algorand blockchain. The initiative was developed in close collaboration with Folks Finance, the leading lending and liquid staking protocol on Algorand. With support for over 40 blockchains, Wormhole's NTT standard allows Algorand to tap into one of the largest interoperability networks in crypto. This milestone makes Algorand a first-class chain in the Wormhole NTT ecosystem, enabling builders to issue and transfer tokens across chains natively, without the need for wrapped assets. The rollout lays the foundation for the upcoming FOLKS token launch and future cross-chain DeFi growth on Algorand. "This milestone future-proofs Algorand's DeFi ecosystem," said Robinson Burkey, co-founder of the Wormhole Foundation. "Builders now have a trusted way to launch multichain tokens that preserve the native user experience and performance of Algorand." Key benefits of the NTT integration: Algorand developers can mint NTT-based tokens using existing standards and tools, opening new pathways for multichain liquidity and cross-ecosystem user flows. Retail users will be able to move assets directly between Algorand and other NTT-enabled chains through familiar interfaces, simplifying access to liquidity and expanding use cases for Algorand-based applications. Token issuers from other ecosystems can now deploy their assets natively on Algorand, unlocking new users, liquidity pools, and DeFi protocols, without needing to wrap or mirror their tokens. "Interoperability is key to Algorand's long-term growth," said Staci Warden, CEO of the Algorand Foundation. "We're happy to support this launch alongside Folks Finance and Wormhole, and to see Algorand become a core player in the open, connected blockchain ecosystem." This collaboration reflects close cooperation across the Algorand ecosystem: combining Folks Finance's leadership on the integration, Wormhole Foundation's infrastructure, and auditing and relayer contributions from xLabs. Documentation, Open Source SDKs and tooling are now available for developers looking to integrate NTT. In the coming weeks, Folks Finance and Algorand Foundation will host community activations and developer sessions to support the first wave of new NTT-powered applications on Algorand. For more information, visit the Algorand Foundation website and the Wormhole website. About Wormhole Wormhole is the leading interoperability platform that powers multichain applications and bridges at scale. Wormhole provides developers, institutions, and users seamless connectivity between over 40 leading blockchain networks. The wider Wormhole network is trusted and used by teams like BlackRock, Apollo Global, VanEck, Google Cloud, Circle and Uniswap. To date, the platform has enabled over $60 billion in cross-chain volume, the most of any protocol in the world. Learn more at About Folks Finance Folks Finance is a community-driven decentralized platform providing permissionless DeFi tools, cross-chain lending, borrowing, staking, and trading across multiple networks. Folks is building a DeFi platform with the security and optionality of traditional finance on a foundation of transparency and decentralization, empowered by on-chain tech. Initially, the leading DeFi protocol on Algorand, Folks has evolved into a dynamic, multichain DeFi hub, leveraging messaging layers technology for expansive growth. With its innovative hub-and-spoke model, the platform offers a seamless, intuitive user experience, abstracting the complexities of cross-chain interactions. Learn more at About Algorand Foundation Algorand's mission is to power a world where information has integrity and innovative ideas can scale. The Algorand Foundation supports Algorand's rapidly growing ecosystem by providing a best-in-class developer environment, supporting key infrastructure and setting technical standards, offering comprehensive support to builders and entrepreneurs, and providing the framework for decentralized governance. Launched in 2019, the Algorand (ALGO) blockchain has grown into a vibrant ecosystem of developers, entrepreneurs, and enterprise partners that benefit from institutional-grade certainty and resilience. Its low fees, instant finality, and minimal carbon footprint appeal to the protocol's millions of retail users, and developers of all kinds appreciate the ability to use common programming languages like Python. Builders on Algorand are creating protocols and companies that solve important problems at a global scale: instant payments in war and disaster zones, self-sovereign identity for the disenfranchised, supply-chain traceability for global commerce, permissionless protocols addressing financial inclusion, and the creation of entirely new markets through tokenization, to name a few. To learn more, visit
Axios
18-06-2025
- Business
- Axios
The housing market slump is getting worse
A longtime slump in the new housing sector is getting worse, according to new indicators. Why it matters: The broader economy held up during a "rolling recession" that hit the housing industry in recent years. That might not be the case this time if other sectors slow concurrently. Catch up quick: Builders broke ground on home construction in May at the slowest pace in five years. The issuance of building permits, an indicator of the appetite to build homes, also hit a five-year low. Sentiment among homebuilders dropped to the lowest level since 2022 in June. Lennar, one of the nation's biggest homebuilders, reported weaker-than-expected quarterly earnings, citing a soft housing market. State of play: Now the sector faces new Trump-era factors, including tariffs and deportations, that are holding back construction and limiting supply. Plus, in certain parts of the country, there is too much inventory compared to demand. Driving the news: Housing starts fell almost 10% last month to an annualized pace of 1.3 million, well below the rate that economists expected, the Commerce Department said Wednesday morning. Building permits also came in worse than expected, particularly for single-family homes. They dropped to an annualized rate of 898,000, nearly 3% below April. What they're saying: The National Association of Home Builders said sentiment among builders has only been lower than its June level twice since 2012. "Buyers are increasingly moving to the sidelines due to elevated mortgage rates and tariff and economic uncertainty," said Buddy Hughes, a North Carolina-based developer who chairs the NAHB, said in a statement Tuesday. The big picture: Softer demand is being met by higher building costs, including for labor and materials. The industry is heavily reliant on immigrant workers, who are being targeted for deportations by the Trump administration. Meanwhile, tariffs on steel and aluminum have doubled to 50%, except for U.K. imports of the materials. The Trump administration is considering higher tariffs on wood materials, including lumber. "New construction has slowed as builders have pulled back on production," Lennar co-CEO Stuart Miller said on an earnings call Tuesday.
