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CB Richard Ellis Sees All Segments Growing.(B)(NYSE STOCKS IN THE NEWS)
Byline: Juan Carlos Arancibia
CB Richard Ellis Group is forming its first base since the company went public last June. The stock has been trading near its 50-day moving average on soft volume.
The commercial real estate services firm last Thursday reported first-quarter operating earnings of 25 cents a share vs. a year-ago loss of 3 cents. Quarterly sales rose 22%, as the company saw strong performance in all business segments.
Its acquisition of Insignia Financial Group in June 2003 gave CBRE a high profile in the New York, London and Paris markets. The deal made it a commercial real estate powerhouse with more than 250 offices in 48 countries.
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