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Los Angelas, CA -- (SBWIRE) -- 01/29/2013 -- D.R. Horton Inc. (NYSE:DHI) said Tuesday that its fiscal first-quarter net income rose to $66.3 million, or 20 cents per diluted share, from $27.7 million, or 9 cents a share, during the same period in the prior year. A consensus view among Wall Street analysts had expected per-share earnings of 14 cents for the home builder, according to a survey by FactSet. D.R. Horton's first-quarter sales hit higher than Wall Street's target, as the company reported home-building revenue reached $1.2 billion in the first quarter, while financial-services revenue reached $41.9 million. For the same period in the prior year, D.R. Horton reported home-building revenue of $884.3 million, and financial-services revenue of $21 million.
Is DHI a Solid Investment at These Levels? Find Out Here
DryShips Inc. (NASDAQ:DRYS) shares gained 2.35% to $2.18. The company, on Jan. 14, announced that the Company and through its majority owned subsidiary, Ocean Rig UDW Inc or Ocean Rig, of offshore deepwater drilling services, the sale, via novation, of two of its tankers under construction at Samsung Heavy Industries, Esperona and Blanca, to a third-party buyer. Under the terms of the two novation agreements dated December 27, 2012, the buyer assumes all rights, benefits, liabilities and obligations under both shipbuilding contracts, in exchange for cash consideration of $21.4 million (that is, $10.7 million for each vessel) paid by the Company to the Buyer.
Is DRYS Showing Any Sign of Buy At The Current Market Price? Find Out Here
Keryx Biopharmaceuticals (NASDAQ:KERX) shares rise +35.01% & announced that its long-awaited Phase III study of its phosphate binder Zerenex had met the main study goal of reducing phosphate levels in blood. Following the announcement, Keryx shares soared 76.60% (or US$2.63) to US$6.06 on high volume of 67.46 million shares, which was 37 times more than usual.
Will New Regulations Weigh over KERX Revenue Stream? Find Out Here
Valero Energy Corp. (NYSE:VLO) shares gained 9.3% as it reported better-than-expected fourth-quarter results. The independent refiner posted a profit of $1.01 billion, or $1.82 a share, compared with $45 million, or eight cents a share, in the same period a year ago. Valero Energy Corporation is an independent petroleum refining and marketing company. Valero’s refineries can produce conventional gasoline’s, distillates, jet fuel, asphalt, petrochemicals, lubricants, and other refined products, etc.
How Should Investors Trade VLO Now? Find Out Here
Hess Corp. (NYSE:HES) are up 10%, or $6.15, to $68.62 in early trading. Shares of Hess Corp. (HES) are moving higher after Elliott Management Corporation sent a letter to the company's shareholders urging them to elect its slate of five independent directors to the board. In the letter, Elliott said that if managed appropriately, the equity value of Hess could be up to $126 per share. Elliott estimates that a spin-off of Hess Resource Co. could create over $28 per share of additional value for shareholders, while divesting the company's downstream assets and tax efficiently monetizing its midstream assets could create $11 per share of additional value.
Where Is Hess Corp Headed Exactly After Achieving This Milestone? Find Out Here
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