D.R. Horton Shares Drop After Loss Wider Than Expected

D.R. Horton Inc., the second-largest U.S. homebuilder by stock-market value, fell in New York trading after reporting a fiscal first-quarter loss that was wider than analysts expected.

The net loss of $20.4 million, or 6 cents a share, for the quarter ended Dec. 31 compares with a profit of $192 million, or 56 cents, a year earlier, the Fort Worth, Texas-based builder said today in a statement. It was expected to have a 3-cent loss, the average estimate in a Bloomberg survey of 16 analysts.