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A federal judge in Los Angeles has rebuffed an effort by the former chief executive of building giant KB Homes to exclude materials related to his marriage settlement and other evidence during his upcoming trial for allegedly manipulating stock options.
KB Home set out to compete with foreclosures last year by building smaller, more affordable homes, and the homebuilder's decision is paying off.
Homebuilder KB Home said Thursday the tendered amount for notes in a recently announced offer exceeded the maximum tender amount and it will buy notes on a prorated basis.
Surprisingly strong sales results from one homebuilder prompted Raymond James analysts to change its ratings on two others in the industry on Thursday.
Homebuilder KB Home said Thursday that it started a public offering of senior notes.
Going into its second quarter, KB Home had everyone wondering whether the homebuilder could duplicate the standout performance of its first quarter — posting a 26 percent year-over-year increase in new orders for the first time in more than three years.
Moody's Investors Service on Monday downgraded all of the ratings of homebuilder KB Home, including its corporate family rating, its probability of default rating and its senior notes rating.
The former chairman and chief executive of giant homebuilder KB Home pleaded not guilty Monday in a stock options backdating case that authorities say bilked shareholders of millions of dollars.
KB Home slashed its first quarter losses by 78 percent as first-time buyers flocked to the builder's smaller and more affordable homes, but the company warned Friday the U.S. housing market has yet to hit bottom.
A federal grand jury has charged the former chairman and chief executive of KB Home with multiple counts of fraud and other crimes related to a stock option backdating scheme that authorities say bilked the homebuilder's shareholders out of millions of dollars.
KB Home managed to stem its losses in the fourth quarter versus a year ago, but the homebuilder saw sales plummet by 56 percent and said Friday it expects home prices to fall further this year and there are tougher times ahead for the industry.
KB Home, one of the nation's largest home builders, said Friday its third-quarter loss quadrupled from the year-ago period, missing Wall Street's expectations as revenue plunged by 56 percent amid falling sales and home prices.
KB Home's latest quarterly results capped a week of discouraging trends for the homebuilding sector Friday.
KB Home, one of the nation's biggest residential homebuilders, said Friday it posted a loss of more than $268 million in its first quarter as weak home sales amid a worsening housing market forced the company to take a large write-down related to falling home prices.
KB Home, one of the nation's largest homebuilders, said Tuesday its fourth-quarter loss swelled as ongoing housing market woes led to fewer home sales and lower revenue, prompting the company to book charges to write down unsold inventory and for a tax allowance.
KB Home, one of the nation's largest homebuilders, said Tuesday its fiscal fourth-quarter loss ballooned as home sales slowed, prompting the company to book charges to write down unsold inventory and for a tax allowance.
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