Orlando, FL -- (SBWIRE) -- 10/30/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On PulteGroup, Inc.(NYSE:PHM), Sunstone Hotel Investors Inc (NYSE:SHO).
PulteGroup, Inc.(NYSE:PHM) shares increased 1.05% to $18.21. The company on Oct. 24 announced financial results for its third quarter ended September 30, 2013. For the quarter, the Company reported net income of $2.3 billion, or $5.87 per share, including $2.1 billion, or $5.42 per share, relating to the reversal of substantially all of the Company's deferred tax asset valuation allowance. Excluding the impact of the deferred tax asset valuation allowance reversal, net income would have been $173 million, or $0.45 per share, compared with prior year net income of $117 million, or $0.30 per share.
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Sunstone Hotel Investors Inc (NYSE:SHO) shares fell 2.93% to $13.56 in the last trading session. The company on Oct. 29 announced the pricing of its public follow-on offering of 20,000,000 shares of its common stock for expected approximate gross proceeds of $273,000,000 before underwriting discounts and commissions and estimated offering expenses payable by the Company. The underwriter has been granted a 30-day option to purchase up to an additional 3,000,000 shares of common stock. The offering is expected to close on or about November 1, 2013. BofA Merrill Lynch is serving as the sole book-running manager for the offering and proposes to offer the shares on the NYSE, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices.
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