Tuesday, July 10, 2007

Stocks in U.S. Decline; Shares of D.R. Horton, Sears Retreat on Earnings

(Bloomberg) -- Builders, banks and retailers sent
the U.S. stock market tumbling for the first time in six days on
increasing evidence the housing slump is depressing earnings.

Home construction shares fell to the lowest in almost four
years after D.R. Horton Inc. said a decrease in orders will lead
to a third-quarter loss. Lehman Brothers Holdings Inc. and Bear
Stearns Cos. dropped after Standard & Poor's said mortgage
defaults may grow. Sears Holdings Corp., the biggest U.S.
department-store company, slid the most since 2003 on its
forecast profits will shrink.


Read more at Bloomberg Stocks News

No comments: