KB Home (KBH) NewsBite - KB Home Falls on Economy Concerns

Friday, July 11, 2008 3:57 PM EDT

KB Home (KBH) opened at 15.03. So far today, the stock has hit a low of 14.31 and a high of 15.77. KBH is now trading at 15.05, down 0.68 (-4.52%). The stock hit its 52 week high of 38.65 in July and set its 52 week low of 14.31 today. KBH has been mobbing downwards for the past year. KB Home shares have been falling along with the broader market as oil prices spiked to a new record above $147 a barrel, stirring new worries about inflations and consumer who may cut back their spending, adding more pressure on the weak economy. Technical indicators for the stock are bearish and steady while S&P gives KBH a negative 2 STARS (out of 5) sell rating. If you’re looking for a hedged play on this stock, consider an October bear-call credit spread above the $22.50 range. KBH stock could rise up to 49.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]

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