NYSE Warns Presley of Suspension Risk
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Irvine home builder Presley Cos. said Wednesday it has been warned by the New York Stock Exchange that the company does not meet proposed new standards for continued listing and that if its stock price doesn’t rise to above $1 a share within the next six months, its shares could be suspended from NYSE trading.
The warning came the same day that Presley’s stock rose 13 cents a share to close at 88 cents in heavy trading after the company reported a second-quarter profit of $9.5 million, or 18 cents a share, up from $1.1 million, or 2 cents a share. Revenue for the period rose 19% to $95.7 million.
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