Pursuits
KB Home Falls Most in 22 Years on Profitability Forecast
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KB Home fell the most in two decades after saying its gross margin will narrow significantly this quarter and that profitability in 2015 will be restricted by flattening prices and rising land costs.
Shares of the Los Angeles-based builder slumped 16 percent to $13.87 today after the company said it’s unlikely to meet its goal of a 20 percent margin this year. It was the biggest decline since August 1992.