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$PHM 2Q15 Call: Reported SG&A was $130MM or 10.5% of home sale revenues. SG&A included a $27MM benefit resulting from a legal settlement. Excluding the impact of the settlement, SG&A was consistent with guidance for quarterly expenditures in the range of $160-165MM. Reported SG&A in 2Q14 was $230MM.
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.
$CSCO shift from hardware to becoming a software behemoth seems to be working for the company so far. Stock has seen a steady rise since the change. But is it sustainable?
Heard about the next generation iPhone. Going by the reports, it is believed that $AAPL will release three iphones this year.