KB Home Falls Most in Two Years on Wider Second-Quarter Loss
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KB Home, the Los Angeles-based homebuilder that targets first-time buyers, fell the most in more than two years in New York trading after it reported a wider quarterly loss and said it may explore ways to raise cash.
The net loss for the second quarter ended May 31 was $68.5 million, or 89 cents a share, compared with a loss of $30.7 million, or 40 cents, a year earlier, the company said today in a statement. Analysts predicted a loss of 33 cents a share, the average of 16 estimates in a Bloomberg survey.