Shareholders traded up KB Home stock early Friday, after the company reported sales and profit that beat Wall Street’s expectations, and said orders raced higher.
The Los Angeles-based builder KBH, +9.43% was able to raise sales prices in three of its four markets for the quarter that ended May 31, compared with a year earlier.
Shares of KB Home, the 12th largest U.S. hom builder by market capitalization, rose as much as 9%.
The broader SPDR S&P Homebuilders ETF XHB, +0.55% rose 1% on Friday.
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