A market with increasingly on its intellect than Toll Brothers (TOL)

August 24th, 2007 | Category: Stocks

In typical times, a report indicating that a company’s quarterly earnings fell 85% would spark a sell-off in the stock.

But these are atypical times for the markets and for the economy, and Toll Brothers’ (NYSE: TOL) report that Q3 EPS had dropped to 16 cents from $1.07 a year earlier, did not overwhelm Wall Street. In fact, shares closed higher on the day the report was released, Wednesday, up $1.06 to $22.15.

However, that is not to state that Toll Brothers merits possible inclusion to the typical investor’s portfolio at that juncture. Toll

Brothers management underscored during their conference sign that visits to it developments have been “horrible,” with traffic down considerably.

Further, Toll’s backlog of houses under contract and not sold at the end of Q3 was $3.7 billion, down 34% from a year ago. In unit terms, the Q3 backlog totaled 4,997 homes, down 38% from a year ago.

Continue reading A market with increasingly on its intellect than Toll Brothers (TOL)

Original post by Joseph Lazzaro

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