Higher prices help Toll Brothers beat revenue estimates

Toll Brothers, whose homes can cost more than $2 million, said orders rose 17.6 percent to 1,250 homes in the first quarter ended Jan. 31. "The stock market seems to be pricing in a steep decline in the economy and, along with it, our sector," Executive Chairman Robert Toll said in a statement. Toll Brothers said it now expected to sell 5,700-6,400 homes in 2016, compared with 5,600-6,600 estimated previously.