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Real estate rebound builds demand for Pulte Homes stock.(Brief Article)
Crain's Detroit Business, April, 2002 by Smith, Jennette
The stock price of Bloomfield Hills-based home-building giant Pulte Homes Inc. (NYSE: PHM) is up this year in tandem with the company's sales success and the strength of the home-building sector even during an economic downturn. Pulte's stock price hit a six-month high March 4 of $54.44 and usually has traded near $50 since.
That's up from a low of $27 on Sept. 21. It closed Friday at $46.60. James Zeumer, Pulte's vice president of investor relations and corporate communications, said the company attributes the stock climb to strong earnings and other factors. The company's fourth-quarter results, released Jan. 29, showed a 44 percent increase in revenue to $2 billion, compared with $1.39 billion for the fourth quarter of 2000. For 2001, Pulte reported...
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