The Orange County Register reports that CalAtlantic Group, the homebuilding firm formed by the merger of Standard Pacific Homes and the Ryland Group, held its first day of trading under the new name last week.
Under the New York Stock Exchange, the firm goes under the CAA ticker symbol. Two corporate offices will serve as headquarters, one near Washington, D.C., in northern Virginia, and the other in Irvine.
The stock price opened at $40.46 a share, and traded at $41.58 by early afternoon. Homes that are currently listed for sale will still display the old brand names. Larry Nicholson, president and CEO of the combined operation, told The Orange County Register that existing brands will be phased out over time, but new developments will start under the new name.
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