This document is related to the following: Regions Global Americas United States North America Sectors Global Home Construction Global Consumer, Cyclical Global Home Construction & Furnishings Global Cyclical Goods & Services Americas Home Construction US Home Construction Americas Consumer, Cyclical Americas Home Construction & Furnishings US Consumer, Cyclical US Home Construction & Furnishings Americas Cyclical Goods & Services US Cyclical Goods & Services North American Cyclical Goods & Services North American Consumer, Cyclical North American Home Construction & Furnishings North American Home Construction Companies CTX.N Centex Corp KBH.N KB Home PHM.N Pulte Homes BZH.N Beazer Homes HOV.N Hovnanian RYL.N Ryland Group TOL.N Toll Brothers SPF.N Standard Pacific MTH.N Meritage Corp. LEN.N Lennar DHI.N D.R. Horton Subjects Change in Recommendation Company Update Morning Note ...