Aug
04
Realogy Tumbles Most Ever as U.S. Luxury-Home Slump Hits Profit
By-
Weakness in California, Florida, NYC area hurts NRT unit
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Shares have their biggest drop since company’s IPO in 2012
Realogy Holdings Corp., owner of brokerage brands Coldwell Banker and Century 21, dropped to a record low as sluggish luxury home sales hurt the firm’s earnings.
Shares of Realogy fell 13 percent to $26.62 at 12:47 p.m. in New York, after earlier slumping 15 percent, the biggest decline since the company’s October 2012 initial public offering at $27 a share. Realogy had second-quarter net income of $92 million, or 63 cents a share, down from $97 million, or 66 cents, a year earlier, according to a statement Thursday…
Realogy Tumbles Most Ever as U.S. Luxury-Home Slump Hits Profit
