KB Home Climbs After Reporting a 54% Increase in Orders
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KB Home, a Los Angeles-based homebuilder, rose to an almost three-year high after reporting a 54 percent increase in orders for the first seven weeks of its fiscal first quarter.
The company announced the preliminary increase in orders yesterday for the quarter ending in February. In a separate statement, KB Home said it planned to underwrite public offerings of $100 million of stock and $150 million of convertible senior notes due in 2019, and may use the proceeds for land acquisition and development. The announcements were made after the close of regular U.S. trading.