On Wednesday, Shares of Bank of America Corporation (NYSE:BAC), lost -1.52% to $17.52.
Bank of America Corporation has dropped -2.01% in the last five trading days; however, the shares have posted positive gains of 4.91% in the last 4 weeks. Bank of America Corporation is up 6.63% in the last 3-month period. Year-to-Date the stock performance stands at -3.36%.
The stock has seen a rise of 3,752,278 shares or 4.6% in the short interest. The net short interest, as on July 31, 2015, stood at 85,959,363 shares and the stocks days to cover will be one by factoring in the average per day volume of 87,886,304 shares. On July 15, 2015, 82,207,085 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on August 11th.
Bank of America Corporation is a bank holding company. The company, through its auxiliaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Administration; Global Banking; Global Markets; and Other segments.
Shares of SandRidge Energy, Inc. (NYSE:SD), inclined 8.70% to $0.60, during its last trading session, as crude oil prices stabilized on Wednesday after falling more than 4 percent on Tuesday to reach $43.28 a barrel, their lowest price since March 2009. OPEC oil production reached a three-year high in July.
OPEC, whose members are responsible for 40 percent of the world’s oil supply, has refused to lower output in response to falling prices and raised it in July to 31.5 million barrels a day, the highest level since May 2012, Market Watch stated.
The World Bank warned on Monday that the influx of one million barrels of Iranian oil into the global oil supply will lower the price of U.S. oil by a further $10 by the end of the year.
The International Energy Agency (IEA) said the fall in oil prices has encouraged demand in the oil market. However, the IEA said on Wednesday that: “While a rebalancing has clearly begun, the process is likely to be prolonged as a supply overhang is predictable to persist through 2016—suggesting global inventories will pile up further,” according to Reuters.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Finally, DR Horton Inc. (NYSE:DHI), ended its last trade with 1.97% gain, and closed at $29.96, hitting its highest level.
DR Horton stated that net income for its third fiscal quarter ended June 30, 2015 raised 96% to $221.4 million, or $0.60 per diluted share, from $113.1 million, or $0.32 per diluted share, in the same quarter of fiscal 2014. Homebuilding revenue for the third quarter of fiscal 2015 raised 37% to $2.9 billion from $2.1 billion in the same quarter of fiscal 2014. Homes closed in the quarter raised 28% to 9,856 homes, contrast to 7,676 homes in the preceding year quarter.
For the nine months ended June 30, 2015, net income raised 39% to $511.8 million, or $1.39 per diluted share, from $367.3 million, or $1.05 per diluted share, in the same period of fiscal 2014. Homebuilding revenue for the nine months ended June 30, 2015 raised 37% to $7.5 billion from $5.4 billion in the first nine months of fiscal 2014. Homes closed in the nine-month period raised 30% to 26,072, contrast to 20,058 homes in the same period of fiscal 2014.
Net sales orders for the third quarter ended June 30, 2015 raised 22% to 10,398 homes and 25% in value to $3.0 billion, contrast to 8,551 homes and $2.4 billion in the preceding year quarter. The Company’s cancellation rate (cancelled sales orders divided by gross sales orders) for the third quarter of fiscal 2015 was 22%. Net sales orders for the first nine months of fiscal 2015 raised 28% to 28,903 homes from 22,574 homes in the first nine months of fiscal 2014 and the value of net sales orders raised 32% to $8.3 billion from $6.3 billion.
The Company’s sales order backlog of homes under contract at June 30, 2015 raised 12% to 12,761 homes and 15% in value to $3.7 billion, contrast to 11,365 homes and $3.3 billion at June 30, 2014.
D.R. Horton, Inc. operates as a homebuilding company. It is engaged in the acquisition and development of land; and construction and sale of residential homes in 27 states and 79 markets in the United States under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, and Crown Communities.
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