Toll Brothers: Scraping the Bottom?

The luxury homebuilder reports signs of a bottoming out in some markets. Wall Street hopes that will bring relief for others in the industry

The colorful CEO of luxury homebuilder Toll Brothers (TOL), Robert Toll, stepped forward on Dec. 5 with the claim that some housing markets might be stabilizing. His comments came as a slight disconnect from the company's quarterly news: Profits plunged, customers canceled more orders, and the company took a deep hit on its property holdings.

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