STANDARD and POORS DOWNGRADES MDC NYSE HOLDINGS TO
JUNK STATUS (MDC)
Breaking News Monday June 27, 2011
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Standard
& Poor’s Downgrades MDC Holdings NYSE To Junk
Status
http://gamutnews.com/20110627/38745/video-standard-poors-downgrades-mdc-holdings-to-junk-status.html
Video:
Standard & Poor’s Downgrades MDC Holdings To Junk
Status
MDC
bought DC Homes, LLC Seattle
Standard & Poor’s Ratings Services
downgraded M.D.C. Holdings Inc’s (NYSE:MDC) credit ratings to junk
territory today, after the agency lowered its outlook on the housing industry
as a whole.MDC reported a slightly narrower loss in the first quarter, but the
second quarter, usually the strongest selling season for the housing market,
has shown increasing signs of weakness.Standard &
Poor’s analyst George Skoufis said, “In this
environment, we do not think that MDC will achieve the revenue growth and
margin improvement necessary to fully return to profitability and bring credit
ratios back to stronger, predownturn levels.”The
S&P had lowered its outlook on the company in April, saying it expected the
company’s profitability to remain weak. The outlook on the stock is now stable..
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=== News - 5
new results for [MDC Holdings NYSE] ===
Video: Standard
& Poor's Downgrades MDC Holdings To Junk Status
Gamut News
Standard &
Poor's Ratings Services downgraded MDC Holdings Inc's (NYSE:MDC)
credit ratings to
junk territory today, after the agency lowered its
outlook on
STANDARD &
POOR'S DOWNGRADES MDC HOLDINGS TO JUNK STATUS (MDC)
Zacks.com
Jun 27, 2011 (SmarTrend(R) News Watch via COMTEX) -- Standard &
Poor's
Ratings
Services downgraded MDC Holdings Inc's (NYSE:MDC - Snapshot Report)
Credit
Jun 27, 2011 (SmarTrend(R)
News Watch via COMTEX) -- Standard & Poor's Ratings Services downgraded M.D.C.
Holdings Inc's (NYSE:MDC - Snapshot
Report) credit ratings to junk territory today, after the agency lowered
its outlook on the housing industry as a whole.
MDC reported a slightly narrower loss in the
first quarter, but the second quarter, usually the strongest selling season for
the housing market, has shown increasing signs of weakness.
"In this environment, we do not think
that MDC will achieve the revenue growth and margin improvement necessary to
fully return to profitability and bring credit ratios back to stronger, predownturn levels," S&P analyst George Skoufis said.
The S&P had lowered its outlook on the
company in April, saying it expected the company's profitability to remain
weak. The outlook on the stock is now stable.
MDC Holdings has a potential upside of 9.8%
based on a current price of $25.5 and an average consensus analyst price target
of $28.
MDC Holdings is currently below its 50-day
moving average (MA) of $26.28 and below its 200-day MA of $27.34.
In the last five trading sessions, the 50-day
MA has fallen 0.47% while the 200-day MA has slid 0.19%.
M.D.C. Holdings, Inc., through its
subsidiaries, builds and sells homes under the name Richmond American Homes.
The Company also originates mortgage loans primarily for its home buyers.
M.D.C. builds its single-family homes in Colorado, Virginia, Maryland, Northern
and Southern California, Arizona, and Nevada.
Write to Chip Brian at cbrian@mysmartrend.com
Standard &
Poor's Downgrades MDC Holdings To Junk Status
Financial News
Network Online
By Tim Tracy in
General Interest, MDC Standard & Poor's Ratings Services
downgraded MDC Holdings
Inc's (NYSE:MDC) credit ratings to junk territory
today,
Standard & Poor's Downgrades MDC Holdings To Junk Status
Published
on Mon, 06/27/2011 - 14:45
By Tim Tracy in General Interest, MDC
Potential M D C
(MDC) Trade Targets 24.35% Return
Market
Intelligence Center
MDC Holdings
Inc. (NYSE: MDC) closed Friday's trading session at $25.51. In
the past year, the
stock has hit a 52-week low of $24.09 and 52-week high
Potential M D C (MDC) Trade Targets 24.35% Return
Posted: Monday, June 27, 2011 8:11 AM EDT
http://www.marketintelligencecenter.com/analyfav/1282815
M.D.C. Holdings Inc. (NYSE:
MDC) closed Friday's trading session at $25.51. In the past year, the stock has
hit a 52-week low of $24.09 and 52-week high of $32.40. M D C (MDC) stock has
been showing support around $24.58 and resistance in the $26.60 range.
Technical indicators for the stock are Bearish and S&P gives M D C (MDC) a neutral 3
STARS (out of 5) hold rating. For a hedged play on M D C (MDC), look at
the Dec '11 $26.00 covered call for a net debit in the $23.31 area. That is
also the break-even stock price for this trade. This covered call has a
duration of 173 days, provides 8.62% downside protection and an assigned return
rate of 11.54% for an annualized return rate of 24.35% (for comparison purposes
only). M D C (MDC)
has a current annual dividend yield of 3.89%. [ATU-Seven Summits Research]
CLICK HERE : FREE
MDC Holdings (MDC) Stock Report
See what our analysts have uncovered about MDC
Holdings (MDC).
More News For MDC Holdings (MDC):
Potential M D C
(MDC) Trade Has $23.25 Breakeven
M D C (MDC)
Trading Near $25.78 Resistance Level
M D C (MDC)
Showing Bearish Technicals But Could Break Through
$27.27 Resistance
MDC Holdings
(MDC) NewsBite - MDC Downgraded By JMP Securities
M D C (MDC)
Showing Bearish Technicals With
Resistance At $27.00
Target Hires
MDC Partners to Lead Canadian Marketing Efforts
CNW Group
(NYSE: TGT)
announced today that the company has hired MDC Partners to lead
the development of
its overall marketing efforts in Canada.
Target Hires MDC Partners to Lead Canadian Marketing
Efforts
MINNEAPOLIS, June 27, 2011 /CNW/ - In anticipation of its
first Canadian stores opening in 2013, Target® Corp. (NYSE: TGT) announced
today that the company has hired MDC Partners to lead the development of its
overall marketing efforts in Canada.
The MDC integrated team for Target is being led by kbs+p Canada and Veritas
Communications, along with support from Northstar Research
Partners and BOOM! Marketing.
"Throughout the agency selection process MDC
continuously inspired the Target team with their passion for our business and
innovative ideas across all disciplines," said Michael Francis, chief
marketing officer and executive vice president, Target. "We look forward
to partnering with MDC to bring the Target brand to life for our Canadian
guests as we move toward our Canadian opening."
Target chose MDC as its lead agency in Canada based on its
depth of retail experience, integrated team of agencies across Canada, insights
into Canadian consumers and reputation for collaboration.
MDC is the largest digitally-driven, independent,
Canadian-owned marketing communications network in the world. Strategy
will be out of the kbs+p Toronto and Montreal
offices, and all other offices activate locally on that strategy.
"We feel privileged to be selected to help bring
Target's iconic brand to the Canadian market and credit our collaborative and
integrated approach, along with our shared creative and strategic
sensibilities, for the win," said Miles Nadal,
CEO of MDC Partners. "We are very fortunate to be a part of Target's
first international expansion and look forward to helping them become retailer
of choice."
In addition, MDC and Target will partner with Carat in Toronto,
Canada's largest independent media communications company and recognized world
leader in media research and consumer insight.
In May, Target announced the initial selection of its
initial group of Zellers sites, representing 105 locations in all 10 provinces
across Canada. The vast majority of these store sites will become Target stores
after securing the necessary construction approval for extensive renovation and
will open beginning in 2013. A full list of the sites in this initial
selection, including the 22 property owners and landlords with whom Target has
reached lease agreements, is available on Target.com.
About Target
Minneapolis-based Target Corporation (NYSE:TGT) serves
guests at 1,755 stores in 49 states nationwide and at Target.com. In addition,
the company operates a credit card segment that offers branded proprietary
credit card products. Since 1946, Target has given 5 percent of its income
through community grants and programs; today, that giving equals more than $3
million a week. For more information about Target's commitment to corporate
responsibility, visit Target.com/hereforgood.
For more information, visit Target.com/Pressroom.
For further information:
Donna Egan, Target Communications, (480) 533-5003
Target Media Hotline, (612) 696-3400
=== Web - 1 new
result for [MDC Holdings NYSE] ===
StreetInsider.com
- S&P cuts rating on MDC Holdings (MDC) to BB+ ...
More News
related to Credit Ratings. June 27, 2011 12:59 PM EDT. S&P cuts
rating on MDC
Holdings (NYSE: MDC) to BB+ (junk); outlook Stable ...
http://www.streetinsider.com/Credit%2BRatings/S%2526P%2Bcuts%2Brating%2Bon%2BMDC%2BHoldings%2B(MDC)%2Bto%2BBB%252B%2B(junk)%253B%2Boutlook%2BStable/6603849.html&ct=ga&cad=CAcQAhgAIAEoATAFOABA_rWk8ARIAVgAYgVlbi1VUw&cd=yX99B-8NSGE&usg=AFQjCNELUbmMwMq93DV17O97jQzxYlORFg>