Before the Bell-U.S. home builders jump after GSE takeover
NEW YORK, Sept 8
NEW YORK, Sept 8 (Reuters) - Shares of U.S. home builders jumped on Monday after the government took over mortgage finance giants Fannie Mae FNM.N and Freddie Mac FRE.N in a bid to stabilize the housing market and prevent further turmoil in global financial markets.
Toll Brothers' (TOL.N) stock was up 8 percent at $26.19 a share in pre-market trading on NYSE, while Hovnanian Enterprises Inc. (HOV.N) shares were up 14 percent at $7.51.
- Tweet this
- Share this
- Digg this
- Putin admits Russian forces were deployed to Crimea
- Vice principal of South Korea school in ferry disaster commits suicide |
- UPDATE 7-Tennis-Monte Carlo Masters men's singles round 3 results
- East Ukraine separatists stay put despite diplomatic deal
- Singer Chris Brown's bodyguard on trial for assault