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$LEN had approx. $511MM of homebuilding cash and $500MM of borrowings under its $1.6Bil revolving credit facility in 1Q16. In March, $LEN issued $500MM of 5-year senior notes at 4.75% which will be used for working capital and to retire its $250MM 6.5% senior notes. This will reduce the borrowing rate while extending maturities.
Visa ($V) set to release it earning after market close today. With new CEO resigning so close to the earnings, should we expect to see any surprises? Visa has been making strong moves with Visa Europe acquisition, partnership with PayPal and a 15% increase if quarterly dividends.
Kimberly Clark Corp ($KMB) has been in decline for most of the year, the stock has also not been getting any analyst love. Will today’s earnings break the trend? Revenue has been up and down in the last four quarters, let us see what this quarter brings.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.