Investors Are Buying These 2 Stocks Following Earnings

New York Times Co. (NYSE:NYT) reported its results for the fourth quarter. Net income for New York Times Co. fell to $58.9 million (39 cents per share) vs. $67.1 million (44 cents per share) a year earlier. This is a decline of 12.2% from the year earlier quarter. Revenue fell 2.8% to $643 million from the year earlier quarter. New York Times Co. reported adjusted net income of 45 cents per share. By that measure, the company beat the mean estimate of 42 cents per share. Analysts were expecting revenue of $646.4 million.

“In 2011 we made significant strides in our strategy to transform and rebalance our Company,” said Arthur Sulzberger, Jr., chairman and chief executive officer, The New York Times Company. “Our fourth-quarter results demonstrate the continued focus on building The Times’ digital subscription base and developing a new robust consumer revenue stream, while maintaining its significant digital advertising business. In the second half of the year, our digital initiatives also included the launch of the new pay site, BostonGlobe.com, and digital subscription packages at the International Herald Tribune. As of quarter end, paid subscribers to all of the Company’s digital subscription packages, e-readers and replica editions totaled about 406,000.”

Competitors to Watch: Gannett Co., Inc. (NYSE:GCI), The McClatchy Company (NYSE:MNI), News Corporation (NASDAQ:NWSA), Media General, Inc. (NYSE:MEG), Lee Enterprises, Inc. (NYSE:LEE), The E.W. Scripps Company (NYSE:SSP), A. H. Belo Corporation (NYSE:AHC), Daily Journal Corporation (NASDAQ:DJCO), and Pearson PLC (NYSE:PSO).

PulteGroup Inc. (NYSE:PHM) reported its results for the fourth quarter. Reported a profit of $13.8 million (4 cents per diluted share) in the quarter. The residential construction company had a net loss of $165.4 million or a loss of 44 cents per share in the year earlier quarter. Revenue rose 6.5% to $1.26 billion from the year earlier quarter. PulteGroup Inc. fell short of the mean analyst estimate of 8 cents per share. It beat the average revenue estimate of $1.14 billion.

“We are pleased to report PulteGroup’s fourth quarter earnings, which demonstrate the Company’s continued progress on our initiatives to expand margins and lower overhead costs,” said Richard J. Dugas, Jr., Chairman, President and CEO of PulteGroup. “In addition to our improved operating results, we also successfully sold 23 non-strategic land assets for $64 million and were able to repurchase $257 million par value of our debt for $252 million. These transactions continue to strengthen our balance sheet and will help to improve our return on invested capital over time. The 2011 U.S. housing market demonstrated continued stability, although at extremely low levels of new home sales. Favorable long-term demographic drivers and improvements in a number of underlying housing data reports provide reasons for optimism heading into 2012. Although challenging macroeconomic conditions persist, we believe the progress we have made across our core homebuilding operations should enable the Company to be profitable for the full year of 2012.”

Competitors to Watch: D.R. Horton, Inc. (NYSE:DHI), Lennar Corporation (NYSE:LEN), The Ryland Group, Inc. (NYSE:RYL), Toll Brothers, Inc. (NYSE:TOL), KB Home (NYSE:KBH), M.D.C. Holdings, Inc. (NYSE:MDC), Hovnanian Enterprises, Inc. (NYSE:HOV), Standard Pacific Corp. (NYSE:SPF), and Comstock Homebuilding Companies, Inc. (NASDAQ:CHCI).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com