Pultegroup Inc
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Consumer Discretionary : Household Durables | Mid Cap Blend
Company profile

PulteGroup, Inc. is a homebuilder in the United States. The Company's segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land. Its Financial Services operations consist principally of mortgage banking and title operations. The Company conducts its financial services business, through Pulte Mortgage LLC (Pulte Mortgage) and other subsidiaries. Pulte Mortgage arranges financing through the origination of mortgage loans. The Company's subsidiaries are engaged in the homebuilding business. It offers a product line to meet the needs of homebuyers in its focused markets. Through its brands, which include Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods, the Company offers a range of home designs, including single-family detached, townhouses, condominiums and duplexes.

Day's Change
-2.33 (-5.15%)
B/A Size
Day's High
Day's Low
(Heavy Day)

Today's volume of 4,364,590 shares is on pace to be much greater than PHM's 10-day average volume of 2,504,498 shares.


Tesla's debt close to investment grade after S&P upgrade

1:00 pm ET October 12, 2020 (MarketWatch)

By Claudia Assis

Tesla could sell more than 800,000 cars by 2021, S&P Global Ratings says

S&P Global Ratings on Monday raised its Tesla Inc. debt ratings to BB-, from B+, leaving the Silicon Valley car maker's bonds two notches from investment grade.

"Improved execution, increasingly efficient production, and global expansion continue to strengthen the company's competitive position," S&P said.

Tesla stock (TSLA) rose 2% on Monday, and has gained 430% this year, compared with an advance around 9% for the S&P 500 index.

The debt ratings agency also cited Tesla's third-quarter deliveries (https://www.marketwatch.com/story/tesla-stock-falls-after-third-quarter-deliveries-keep-demand-concerns-alive-2020-10-02), its proxy for sales, as one of the reasons for the upgrade, and praised the production ramp of the Model Y, the compact SUV that is Tesla's latest vehicle.

"This ramp up in production was significantly faster than its initial Model 3 ramp up, which took over nine months to reach the same weekly rate," S&P said. "We expect further improvements in efficiency, cost, and technology as Tesla builds on lessons learned from prior factories."

It said it expects Tesla to deliver more than 470,000 in 2020, which would be within the company's goals for the year. Sales could reach more than 800,000 in 2021, S&P said.

-; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 12, 2020 13:00 ET (17:00 GMT)

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