Toll Brothers; Thornburg Mortgage; Lehman Brothers
Toll Brothers, the largest US luxury home builder, posted a 3rd straight quarterly loss.
Q2 Net loss $94 million vs net income $36.7 million a year ago. on revenue -30%; earnings -26%; average price -26%; cancellations 25%; net value -58%; backlog -50%
The five largest U.S. builders have reported a combined $3.4 billion in losses in their most recent quarters.
Thornburg Mortgage, has racked up $1.67 billion in losses in the past two quarters,
and today postponed its Q1 report until June 12th, as it accounts for a capital infusion received earlier this year.
The "jumbo" lender averted bankruptcy in March by rasing $1.35 billion in a securities offering, with $1.15 billion coming from the sale of stock, warrants and notes.
Thornburg said last month it would report a substantial Q1 loss because of the falling value of MBS mortgage backed securities.
Lehman Brothers, #4 US securities firm, prepares to report its first quarterly loss since going public in 1994.
Lehman may also seek as much as $4 billion in needed capital by selling common stock.
The highly leveraged (27 to 1) and illiquid company has already raised $8 billion since February while the stock has dropped 48% in trading this year.
Q2 Net loss $94 million vs net income $36.7 million a year ago. on revenue -30%; earnings -26%; average price -26%; cancellations 25%; net value -58%; backlog -50%
The five largest U.S. builders have reported a combined $3.4 billion in losses in their most recent quarters.
Thornburg Mortgage, has racked up $1.67 billion in losses in the past two quarters,
and today postponed its Q1 report until June 12th, as it accounts for a capital infusion received earlier this year.
The "jumbo" lender averted bankruptcy in March by rasing $1.35 billion in a securities offering, with $1.15 billion coming from the sale of stock, warrants and notes.
Thornburg said last month it would report a substantial Q1 loss because of the falling value of MBS mortgage backed securities.
Lehman Brothers, #4 US securities firm, prepares to report its first quarterly loss since going public in 1994.
Lehman may also seek as much as $4 billion in needed capital by selling common stock.
The highly leveraged (27 to 1) and illiquid company has already raised $8 billion since February while the stock has dropped 48% in trading this year.
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