Stocks in the news: Pulte, Centex, oil prices fall


Is creating the largest homebuilder amidst the worst real estate market in decades such a hot idea? Wall Street seems to say "yes."

Pulte Holmes Inc. (PHM) agreed to buy Centex Corp. (CTX) for $1.38 billion in an all-stock deal. As the Associated Press notes, "the transaction, which also includes $1.8 billion of debt, will give the combined business a strong liquidity position with more than $3.4 billion in cash as of March 31."