leadf
logo-loader
viewKB Home

Small-Cap Snapshot: KB Home shares jump on better-than-expected 2Q results

The homebuilder surpassed Wall Street estimates on earnings and revenue

Home building
The average selling price of a home was up 4% for the company

KB Home Inc (NYSE:KBH) shares soared after its second-quarter results came in ahead of Wall Street estimates. The homebuilders reported earnings of US$0.57 per share on revenue of US$1.1bn compared with analyst estimates of US$0.48 EPS on revenue of US$1.04bn. The average selling price of a home was up 4% while new orders increased 3%. Shares of the California-based builder were up more than 6% to US$27 in Friday afternoon trading.

Gemphire Therapeutics Inc (NASDAQ:GEMP) saw its share price double after its drug Gemcabene met its primary endpoint in a study, soaring 110% in pre-market trading. The oral drug is designed to treat patients with severe hypertriglyceridemia, meaning a high level of triglycerides, a type of fat, in the blood. The triglyceride levels decreased by nearly half in patients treated compared with 27% of placebo-treated patients. Shares of the Michigan-based biotech jumped more than 80% to US$9.60 in afternoon trading.

READ: Gemphire Therapeutics shares soar on optimistic Phase 2b trial results for gemcabene

Greenbrier Companies Inc (NYSE:GBX) was a top gainer as well following better-than-expected fiscal third-quarter earnings. The railroad car equipment maker reported diluted earnings of US$1.01 per share on revenue of US$641.4mln. Its adjusted earnings of US$1.30 surpasses consensus estimates of US$1.14 EPS while its revenue fell short of an estimated US$671.8mln. Shares of the Oregon-based industrials company were up more than 10% to US$51.96 in afternoon trading.

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) shares are up double-digits following the expiration of a rights offering, leading to US$10.8mln in gross proceeds. The capital raise will go towards furthering the company’s drug development. The biophg.Sarma develops therapeutic drugs for the treatment of hepatitis B virus. Shares of the New Jersey-based company jumped more than 16% in pre-market trading but were down slightly to US$1.33 in afternoon trading.

--Updated to reflect latest share price--

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

 

Quick facts: KB Home

Price: 37.62 USD

NYSE:KBH
Market: NYSE
Market Cap: $3.68 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Trump Vs Biden debate: Market reaction, corporate support and future predictions

Neil Wilson from Markets.com joins Proactive London's Katie Pilbeam following the U.S. President Donald Trump and Democratic rival Joe Biden debate on Thursday night. With 47 million Americans already voted - do the markets even care? Wilson says there was 'no killer blow' which would explain...

1 day, 3 hours ago

2 min read