KB Home Sinks as Homebuilder Warns of Waning Demand
1 minute ago
KB Home (KBH) shares slumped Tuesday, a day after the homebuilder posted worse-than-expected results and cut its guidance as hesitancy by potential buyers reduced demand.
The company reported first-quarter fiscal 2025 earnings per share of $1.49, with revenue falling 5% year-over-year to $1.39 billion. Both missed Visible Alpha forecasts. The number of homes delivered declined 9% to 2,770, although the average selling price rose 4% to $500,700.
CEO Jeffrey Mezger said that “consumers are working through affordability concerns and uncertainties related to macroeconomic and geopolitical issues, which are causing them to move slowly in their home buying decisions.” Mezger noted that the start of the key spring selling season “was more muted than what we have seen historically, despite a healthy level of traffic in our communities.”
Mezger said the company is lowering its full-year outlook “primarily to reflect the lower level of net orders we generated in the first quarter.” KB Home now sees housing revenue in the range of $6.6 billion to $7.0 billion, down from its earlier estimate of $7.0 billion to $7.5 billion. It anticipates the average selling price to be $480,000 to $495,000, down from $488,000 to $498,000.Shares of KB Home dropped 6% to their lowest level in more than a year.
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Shares of KB Home were down 6% this morning to their lowest level in more than a year.
Tesla EU Sales Continue to Slide
47 minutes ago
Tesla (TSLA) sales in the European Union (EU) tumbled for a second consecutive month in February, even as overall new electric vehicle registrations increased.
According to the European Automobile Manufacturers’ Association, Tesla EU new car registrations, which serve as a proxy for sales, plunged 47% year-over-year to 11,743 cars in February, a month after they plummeted 50%.
Meanwhile, battery-electric vehicle (BEV) registrations in the bloc jumped nearly 24% overall.
Tesla shares were down 1% in early trading Tuesday after soaring 12% to lead the S&P 500 yesterday. Still, Tesla shares are down more than 30% in 2025, weighed upon by concerns that CEO Elon Musk’s work with President Donald Trump is a distraction from running the EV maker and hurting brand perceptions. Weak sales in Europe, as well as in China, a key market, have also hurt its stock.
MicroStrategy Price Levels to Watch After Monday’s Surge
2 hr 17 min ago
MicroStrategy (MSTR) shares were slightly lower this morning after jumping more than 10% on Monday.
Shares in the company, which is the world’s largest corporate holder of bitcoin, received a boost after a regulatory filing on Monday revealed that the software firm had purchased an additional 6,911 bitcoins between March 17 and March 23, taking its holding to over 500,000 BTC. MicroStrategy’s accumulation of the digital currency, which began in 2020, has shown no signs of slowing.
Shares of MicroStrategy, which does business under the name Strategy, have gained 16% since the start of the year as of Monday’s close and have more than doubled over the past 12 months as investors turn to the stock as a leveraged Bitcoin bet.
After retracing to the closely watched 200-day moving average, MicroStrategy shares traded sideways for several weeks before finding renewed buying interest. More recently, the stock closed above the 50-day MA on Monday, potentially setting the stage for a continuation of the stock’s longer-term uptrend.
Meanwhile, the relative strength index flashes a reading above 50 to signal bullish price momentum, but also sits below overbought levels, providing the stock with ample room to test higher prices.
Investors should watch major overhead areas on MicroStrategy’s chart around $383, $543, and $870, while also monitoring key support levels near $232 and $180.
The stock was down 0.5% at $334 in recent premarket trading.
Read the full technical analysis piece here.
Major Stock Index Futures Slightly Higher
2 hr 50 min ago
Futures tied to major U.S. stock indexes were each up 0.2% in recent trading.
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