PulteGroup rises after first quarter results beat

Shares of homebuilder PulteGroup PHM.N rise 1.5% to $94.50 premarket

PHM beat Wall Street estimates for quarterly profit and revenue as slight easing in interest rates during the quarter, coupled with buyer incentives, lifted demand

Q1 revenue of $3.89 billion beat analysts' average estimate of $3.82 billion, according to data compiled by LSEG.

Q1 adj. EPS of $2.57 per share beat analysts' average estimate of $2.42

As of Monday's close, stock had fallen 14.5% YTD