S&P 500 Winners: Banks and Homebuilder Stocks Spike

S&P 500 (NYSEARCA:SPY) home-builder stocks (NYSEARCA:XHB) such as Masco (NYSE:MAS), PutleGroup (NYSE:PHM), Lennar (NYSE:LEN) and DR Horton (NYSE:DHI) are popping hard after a strong pending home sales data jumped to the highest level in 19 months.

Bank stocks (NYSEARCA:KBE) are also rocketing to the top of the S&P 500 Winners list. Bank of America (NYSE:BAC), Suntrust (NYSE:STI), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C) and J.P. Morgan (NYSE:JPM) are all up over 2%. Given the high level of exposure banks still have to the housing market, today’s good news either has shorts covering some of their positions or bulls staking new claims.

Here’s how these stocks are reacting to the news:

Masco Corporation (NYSE:MAS): MAS shares recently traded at $10.43, up $0.56, or 5.67%. They have traded in a 52-week range of $6.60 to $15.03. Volume today was 2,357,063 shares versus a 3-month average volume of 5,286,000 shares. The company’s trailing earnings are $-2.99 per share.

PulteGroup, Inc. (NYSE:PHM): PHM shares recently traded at $6.22, up $0.27, or 4.54%. They have traded in a 52-week range of $3.29 to $8.69. Volume today was 3,557,451 shares versus a 3-month average volume of 11,999,400 shares. The company’s trailing earnings are $-1.03 per share.

Lennar Corp. (NYSE:LEN): LEN shares recently traded at $19.69, up $0.71, or 3.74%. They have traded in a 52-week range of $12.14 to $21.54. Volume today was 2,316,321 shares versus a 3-month average volume of 6,058,720 shares. The company’s trailing P/E is 39.78, while trailing earnings are $0.50 per share.

DR Horton Inc. (NYSE:DHI): DHI shares recently traded at $12.65, up $0.45, or 3.69%. They have traded in a 52-week range of $8.03 to $13.50. Volume today was 3,938,762 shares versus a 3-month average volume of 7,170,600 shares. The company’s trailing P/E is 55.00, while trailing earnings are $0.23 per share.

Bank of America Corporation (NYSE:BAC): BAC shares recently traded at $5.41, up $0.12, or 2.27%. They have traded in a 52-week range of $4.92 to $15.31. Volume today was 104,582,553 shares versus a 3-month average volume of 264,030,000 shares. The company’s trailing earnings are $-0.31 per share.

SunTrust Banks, Inc. (NYSE:STI): STI shares recently traded at $17.62, up $0.43, or 2.5%. They have traded in a 52-week range of $15.79 to $33.14. Volume today was 2,561,484 shares versus a 3-month average volume of 7,927,290 shares. The company’s trailing P/E is 16.73, while trailing earnings are $1.05 per share.

Wells Fargo & Company (NYSE:WFC): WFC shares recently traded at $27.69, up $0.58, or 2.14%. They have traded in a 52-week range of $22.58 to $34.25. Volume today was 10,411,559 shares versus a 3-month average volume of 37,373,500 shares. The company’s trailing P/E is 10.26, while trailing earnings are $2.70 per share.

Citigroup, Inc. (NYSE:C): C shares recently traded at $26.63, up $0.5, or 1.91%. They have traded in a 52-week range of $21.40 to $51.50. Volume today was 18,871,907 shares versus a 3-month average volume of 58,615,000 shares. The company’s trailing P/E is 7.10, while trailing earnings are $3.75 per share.

JPMorgan Chase & Co. (NYSE:JPM): JPM shares recently traded at $33.35, up $0.7, or 2.14%. They have traded in a 52-week range of $27.85 to $48.36. Volume today was 11,325,022 shares versus a 3-month average volume of 44,049,300 shares. The company’s trailing P/E is 7.11, while trailing earnings are $4.69 per share.

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

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