On Monday, Shares of KB Home (NYSE:KBH), lost -7.99% to $13.36.
KB Home stated results for its third quarter ended August 31, 2015. Highlights and developments comprise the following:
Three Months Ended August 31, 2015
- Total revenues rose 43% from the year-earlier quarter to $843.2 million. The Company has posted year-over-year revenue improvements for 16 successive quarters.
- Housing revenues raised 36% to $798.6 million from $586.2 million for the corresponding period of 2014, reflecting greater delivery volume and a higher overall average selling price.
- The Company delivered 2,236 homes, up 25% from 1,793 homes in the year-earlier quarter.
- The overall average selling price rose 9% to $357,200, contrast to $327,000 a year ago, as average selling prices raised in each of the Company’s four regions.
- Land sale revenues totaled $41.6 million, reflecting activity in the Company’s West Coast, Southwest and Southeast regions. There were no land sales in the year-earlier period.
- The Company’s housing gross profit margin of 16.2% improved by 20 basis points from the second quarter of 2015 and reduced 260 basis points from 18.8% in the year-earlier quarter.
KB Home is a homebuilding company that constructs and sells homes through its operating divisions under the name KB Home. The Company operates through five operating segments, which comprises four homebuilding segments and one financial services segment. The Companys homebuilding operations are organized into four segments: West Coast, Southwest, Central and Southeast. The Company delivered about 7,215 homes through its four homebuilding segments.
Shares of Aetna Inc (NYSE:AET), declined -5.95% to $105.35, during its last trading session.
The Board of Directors of Aetna declared a quarterly cash dividend of $0.25 per share on the company’s common stock. The dividend is payable on October 30, 2015, to shareholders of record at the close of business on October 15, 2015.
Declaration and payment of future quarterly dividends is at the discretion of the Board and may be adjusted as business needs or market conditions change.
Aetna Inc. is a diversified health care benefits company. The Company offers a range of traditional, voluntary and consumer-directed health insurance products and related services. The Companys operations are conducted in three business segments: Health Care, Group Insurance and Large Case Pensions.
Shares of Navient Corp (NASDAQ:NAVI), declined -2.25% to $12.16, during its last trading session.
Navient Corp, hosted its 10th annual Navient Golf Tournament on Friday, Sept. 11. The all-day event assisted raise $19,000 to support early childhood development programs at the Luzerne County Head Start. Navient Foundation, the company-sponsored philanthropic fund, will also award an additional $8,000 grant to assist support the charity.
On behalf of all of us at Head Start, we give a huge thank you to Navient and the Navient Foundation for their dedication and continued commitment to our communitys most vulnerable children and families, said Lynn Evans Biga, executive director, Luzerne County Head Start. The funding from Navient assists us to provide additional programming for children and families. We prioritize activities that promote health and wellness and parent and child bonding. You assist us to be successful and for that we are forever grateful.
Twenty-four teams comprising of up to four golfers each attended the tournament in Mountain Top, Pa. to show their support. In addition, more than 90 different companies offered sponsorship and gift donations for raffle drawings and other prizes.
Navient Corporation is a loan administration, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), in addition to the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.
Finally, Gap Inc (NYSE:GPS), ended its last trade with -3.29% loss, and closed at $30.12.
Art Peck, chief executive officer of Gap declared recently a noteworthy Clinton Global Initiative Commitment to Action to advance the lives of one million women by 2020 by expanding the company’s award-winning life-skills education program, Gap Inc. P.A.C.E. (Personal Advancement & Career Enhancement).
To achieve this ambitious aim, Peck outlined plans to continue scaling the P.A.C.E. program within Gap Inc.’s global supply chain and in communities around the world. Additionally, P.A.C.E. will broaden into a suite of learning programs with new curriculum to reach adolescent girls in their communities in addition to a women’s leadership program for P.A.C.E. graduates or women in communities who have demonstrated leadership ability. And, for the first time, Gap Inc. will offer access to this signature proprietary program to global partners and other corporations to further broaden the program’s reach.
“From Phnom Penh to Pittsburgh, women share in common an ambition to advance. What some lack are opportunities, particularly access to education,” said Peck. “We are committed to advancing the lives of one million women by expanding our P.A.C.E. program, and we hope others will join us. We know that with the right opportunities, women become powerful agents of change in their families and in their communities.”
The Gap, Inc. is an apparel retail company. The Company offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Piperlime, Athleta and Intermix brands. In addition to operating in the specialty, outlet, online and franchise channels, Gap Inc. is an apparel retailer in using omni-channel capabilities for digital world and physical stores.
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