Diamonds and Dogs
2/21/24
Toll Brothers (TOL) jumps on earnings, looks good heading into the spring season. The luxury home builder easily beat by 47 cents as sales rose 9.4% year over year to $19.5 billion. Toll Brothers delivers 1,927 homes in its first quarter, and reported 2,042 signed contracts as even as the 30-year mortgage rate hovers around 7%. Toll Brother's average home delivered in the quarter was about $1 million.
Palo Alto Networks (PANW) sinks on lower guidance. The cyber security stock is down 28% even as earnings beat and sales rose 19.3% to $1.98 billion. However, weak guidance for a second straight quarter as investors nervous of a price war for the industry.
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