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Toll Falls on Lower Home Orders, Reduced Sales Forecast

Toll Brothers Inc., the largest U.S. luxury-home builder, fell after reporting that orders declined in the fiscal first quarter from a year earlier as bad weather and slowing demand hurt sales.

Signed contracts fell 6 percent to 916 homes in the quarter ending Jan. 31, the Horsham, Pennsylvania-based company said today in a statement. Toll lowered the upper end of its sales forecast for the year by 4 percent to 5,850 homes.