The company is joining carmakers, retailers and restaurant chains in reporting weaker results because of the weather. Snow, ice and record cold canceled more than 108,600 commercial flights, halted passenger and freight train service and slowed truck traffic. The Fed has been trying to determine how much recent data has been affected by the inclement conditions.
KB Home jumped 6.3% to $18.79. The homebuilder reported first-quarter revenue of $450.7 million, higher than the $435.8 million analysts estimated for the period. The company’s average selling price rose 12% in the period.
An S&P 500 index of homebuilders climbed 2.1%, as all 11 members advanced. Lennar Corp. surged 3.4% to $41.99 and D.R. Horton Inc. added 1.8% to $22.85.
Juniper Networks Inc. gained 2.2% to $22.47 after Wells Fargo Securities analyst Jess Lubert raised the company to outperform from market perform.
Oracle fell 2.5% to $37.87. Revenue in the period that ended Feb. 28 was $9.31 billion, and profit before certain costs was 68 cents a share, Oracle said. On average, analysts had projected $9.36 billion in sales and profit of 70 cents, according to data compiled by Bloomberg.
SolarCity Corp. dropped 3.4% to $74.46. The biggest U.S. solar-power supplier by market value posted fourth-quarter net income of $26.7 million, compared with a loss of $33 million a year earlier. The profit came largely from an acquisition- related tax benefit, the company said. Excluding one-time items, SolarCity had a loss of 46 cents a share.
Nu Skin Enterprises Inc. lost 4.8% to $73. The skin- care product seller suspended some promotional meetings in China and won’t accept new applications for sales jobs there. The company is being investigated after a report in People’s Daily newspaper said it’s a “suspected illegal pyramid scheme.”