Volume Spike Investor

D R Horton (NYSE: DHI) is trading higher on signs business may be turning around for the homebuilder which caters to first-time buyers.  The homebuilder reported a pre-tax income of $42.8 million or $0.56 EPS as revenue rose 23% percent to $1.1 billion. Thomson Reuters had estimates of -$0.13 EPS and about $960 million in revenue.  Homes closed rose 36% and pre-tax charges this quarter were only $1.2 million for inventory impairments and write-offs.  The net earnings number has items in it, but shares are higher this morning.  At 8;20 AM EST we have shares trading up 8% at $12.88 on almost 15,000 shares.  The average daily volume is $7.7 million shares and the 52-week trading range is $5.73 to $13.90.

JON C. OGG