Strong home market drives homebuilder D.R. Horton's profit up

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by Gigi Stone / Texas Bloomberg Report

Texas Bloomberg Report

Posted on April 29, 2013 at 8:12 AM

Updated Monday, Apr 29 at 2:59 PM

Great news for D.R. Horton, the largest U.S. homebuilder by volume. It's based in Fort Worth. Shares rose to a six-year high after reporting second-quarter profit more than doubled. That's as climbing demand and prices fuel a housing-construction recovery. Low mortgage rates and a shrinking number of existing houses on the market are spurring increases in construction.

People who invested with Allen Stanford might be able to recoup some losses.  He's the Texas financier convicted last year of leading an investment fraud scheme. He was ordered to hand over more than $6.7 billion by the judge in an SEC lawsuit. The order may clear the way for an interim $55 million payout to investors.

Watch J.C. Penney stock. Shares have been soaring the most in a year. That's after word spread that billionaire investor George Soros is betting on the retailer. Soros made a big investment in the struggling company.

Some scary statistics on how many people are short on health insurance -- almost half of working-age adults in the U.S. had inadequate health insurance, or no coverage at all last year! That's according to the Commonwealth Fund. The good news for them: most will be eligible for some type of insurance under the government health care reform package.

 

 

 

 

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