KB Home (NYSE: KBH) is being hit after the company disclosed in an SEC filing that the Securities and Exchange Commission is investigating its accounting and disclosure practices. We show shares down over 5% at $15.60 as of 8:46 AM EST after closing at $16.46 Friday. The 52-week trading range is $6.90 to $20.70 and average volume is over 4 million shares. Volume is likely to increase substantially after the specialist frees up more shares.  While this is stock-specific and not a sectorwide issue that we can tell yet, we’d look at tickers LEN, RYL, DHI, TOL, PHM, MDC, and others. The SPDR S&P Homebuilders (NYSE: XHB) is teh ETF that follows homebuilder stocks. JON C. OGG
Monday, October 12, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment