Fort Worth's D.R. Horton Cuts Costs, Surprises Wall St.

The Fortune 500 homebuilder reported better results than expected, even though its revenues fell by half. After noting that he expects California to start coming back, CEO Don Tomnitz made me feel all warm inside:

Texas, meanwhile, continues to be a strong market, Tomnitz said.

The company has $1.9 billion in cash.

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Fort Worth’s D.R. Horton Cuts Costs, Surprises Wall St.

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Fort Worth’s D.R. Horton Cuts Costs, Surprises Wall St.

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