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Toll Brothers (TOL)

Stock (Manufacturing Industry, Real Estate Industry, Residential Construction Industry)

1Q Revenues Drop 22% Toll Brothers Inc. said Wednesday that home building revenue fell by 22 percent in the first quarter, its seventh consecutive quarterly decline, and warned that it's "not yet seeing much light at the end of the tunnel." Toll Brothers Executives: Luxury Homebuyers not Immune to Subprime Crisis Toll Brothers stock price plunged on an announcement by the company CEO suggesting that wealthy homebuyers were not immune to the subprime mortgage fallout. A Senior Vice President followed up on the comments and explained that while wealthy homebuyers could still afford mortgages, they lack confidence in the housing market and the economy and are thus uninterested in purchasing homes.

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