D.R. Horton saw home orders jump in its fourth quarter. The home builder posted higher orders and closings across most of the country. The company’s earnings missed, but investors saw the results as a sign that housing demand is picking up. That sent shares of other major home builders higher. D.R. Horton shares were up two percent to close at $23.95.
Vivint Solar posted a hefty loss that exceeded analyst estimates, sending shares down. The residential solar power company says its loss widened because it’s investing to increase installations. Investors weren’t buying it. Shares plunged 22.5 percent to $11.42.
Sanofi & Regeneron Pharmaceuticals
Regeneron was one of the best performing stocks in the S&P 500 today. The company and Sanofi both released positive trial data on their experimental drug that treats moderate to severe asthma. Sanofi rose two percent to $47.14. Regeneron rose three percent to $398.36.
Shares of Zoetis were higher on a report that activist investor Bill Ackman has taken a $2 billion stake in the company. He could push the animal health firm to sell itself to a large drug maker. That sent shares up almost nine percent to $43.72.
After the bell Fossil impressed investors with its earnings report. The fashion accessories maker’s results beat estimates and it renewed a licensing agreement with Michael Kors to continue to create watches together. It’s also authorizing a $1 billion stock buyback. Fourth quarter guidance was light, but that didn’t seem to matter. Shares surged initially after the bell, up as much at 15-percent. During regular trading shares were only slightly higher, closing at $103.75.