KB Home Stock Gains Nearly 5% on Tuesday

Warehouse

KB Home posted the largest gain among Mortgage Industry Equity Composite stocks on Tuesday.

The homebuilder benefited from the positive earnings report from competitor D.R. Horton and the relatively good news from the SP Case-Shiller report.

Its stock price gained nearly 4.7% just one day after it fell by 2.7% when it was downgraded by Barclays.

There were 14 of the 17 MIEC stocks which closed higher on Tuesday. The Dow Jones Industrial Average ended a five-day losing streak, gaining 91 points. Among the reasons for the market turnaround is a meeting of the Federal Reserve Board taking place Tuesday and Wednesday.

The other leading gainers are MGIC Investment Corp., up nearly 4%, and Radian Group, up almost 2.7%.

Astoria Financial closed unchanged, while the stock prices of Fidelity National Financial and Home Loan Servicing Solutions fell by 0.6% each.

Leave a Reply