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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

Market: NYSE
Market Cap: $3.68 billion

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