NVR is trading 4.4% down at $5,717.81 after Q3 results showed lower revenue and profit, margin decline and more cancellations. - The October 22 report showed gross margin fell 270 basis points to 18.3%. - Bank of America downgraded NVR to Underperform from Buy and cut its target to $5,900 from $6,725, citing weaker demand and margin pressure. - The broader market is higher; no reliable report ties the October 26 move to a new announcement.