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There are no government economic reports on the calendar, but there's a read on housing this morning from the Mortgage Bankers Association. Borrowers are pulling back from refinances and struggling to make home purchases with 30-year mortgages now decidedly above 4 percent. |
Meanwhile, the Energy Department's usual Wednesday report on oil and gasoline inventories is delayed until tomorrow due to this week's Memorial Day holiday. |
Toll Brothers (TOL) was first out of the gate with earnings reports this morning, earning 37 cents per share for its latest quarter, 2 cents above estimates. The luxury home-builder did see revenue come in below estimates as the number of homes sold fell two percent. |
TiVo (TIVO) late Tuesday reported earnings of 8 cents per share, a penny above estimates, while the digital video recorder maker's revenue was also above forecasts. Total subscribers jumped 27 percent from a year earlier. |
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