ForeverHome's white knight: Investor to take over new home community from troubled Raleigh home builder

Raleigh businessman and real estate investor David Stallings is breaking into the Triangle home building market with the creation of Shenandoah Homes LLC and the takeover of a new Durham housing community that was previously being developed by Raleigh home building company ForeverHome LLC.

Stallings confirms says he’s entered into a joint venture partnership with Rialto Capital Management, of Miami, to complete the development of Fendol Farms at Brier Creek, a 493-lot community with 182 acres on… …read more

From:: biz journal foreclosures

Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

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From:: Stock Market News

ForeverHome’s white knight: Investor to take over new home community from troubled Raleigh home builder

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