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...Elsewhere, WCI Communities jumped more than a third to $23.67 after homebuilder Lennar agreed to buy the real estate group in a deal that values its equity at $643m....
...Brent crude would account for around 50 per cent of the weighting in the new S&P WCI index, approximately matching the weighting given jointly to West Texas Intermediate and Brent in the current GSCI index...
...Last week, Severstal moved to buy Ohio-based WCI Steel for $140m. Last year, Severstal produced 17.6m tonnes of steel, two-thirds of which was in Russia, with the rest from the US, Italy and France....
...Carl Icahn, the billionaire activist investor, had himself installed as chairman of WCI Communities last autumn after failing in a takeover attempt....
...Instead, Icahn has bid $956m for a group called WCI Communities, which builds condominiums and family homes in the Sunshine State....
...And to publicly held homebuilders—downscale ones like Beazer, and upscale ones like WCI Communities, the builder of “amenity rich” condos whose board in April dismissed a $22-per-share takeover offer as...
...Hovnanian Enterprises fell 9.7 per cent to $11.95, Meritage Homes dropped6.4 per cent to $18.25 and WCI Communities sank 14 per cent to $7.59....
...He is also seeking election to the board of WCI Communications....
...But a new position as of December 31 was WCI Communities, a company for which Icahn recently made a $22 per share offer because he felt it was very undervalued. Another new position is Ionatron....
...Fellow homebuilder WCI Communities provided a 2006 outlook that was below expectations . Its shares fell 3.8 per cent at $15.30....
...Technical Olympic, Standard Pacific and WCI Communities look like bargains on an earnings basis, while the price-to-book ratios of DR Horton, Toll Brothers and Hovnanian are historically low....
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