COMPANIES DR Horton, the second biggest homebuilder in the US, narrowed its losses in the latest quarter as house orders surged, but the company said it was “fighting headwinds” from the broader economy.
The fourth-quarter loss of $232m, or 73 cents a share, failed to meet expectations of Wall Street analysts, and the Texas company’s share price plunged by 15.27 per cent to $10.38 on Friday. In the same quarter a year ago DR Horton lost $800m as the US housing market cratered.
