KB Home Declines After Reporting Bigger-Than-Expected Loss
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KB Home, the Los Angeles-based homebuilder that targets first-time buyers, fell to its lowest price in four months in New York trading after reporting a bigger-than-expected loss as orders plunged.
The net loss for the quarter ended Feb. 28 widened to $1.49 a share from 71 cents a year earlier, the company said today in a statement. Analysts predicted a loss of 30 cents a share, the average of 17 estimates in a Bloomberg survey.