KB Home, Xoma: Premarket Trading

(Premarket roundup updated with KB Home earnings results and updated share price movements.)
NEW YORK (TheStreet) --

KB Home ( KBH) reported fourth-quarter net income decline of about 82% to $17.4 million, or 23 cents a share, from $100.7 million, or $1.31 a share the previous year. Revenue fell about 33% to $451 million, from $674.6 million the previous year, on lower housing and land sale revenues. Analysts, on average, expected loss of 17 cents a share on revenue of $441.3 million.

Shares of the company rose 4% to $14.90 in prmarket trading.


Xoma ( XOMA) released disappointing interim results Thursday from a phase IIa study of Xoma 052 in Type 2 diabetes.

Xoma fell 10% to $6.10.


Sara Lee ( SLE) will follow through on plans to split its meat and coffee businesses into two separate companies after turning down Brazilian beef processor JBS SA's buyout offer, a report says.

Premarket quotes were unavailable for Sara Lee. Shares of Sara Lee ended Thursday's trading session flat at $17.46.


Liz Claiborne ( LIZ) slashed its profit outlook following a weak December for its Lucky Brand, Juicy Couture and Mexx Europe brands. Liz Claiborne said it now projects the improvement in its adjusted operating income at $40 million to $50 million for the second half of fiscal 2010, which ended in December. Its previous view called for an improvement of $80 million.

Shares of Liz Claiborne tumbled 18.8% to $5.60 in premarket trading.

Immucor ( BLUD) topped Wall Street expectations for its second-quarter results. The company said it earned $21.1 million, or 30 cents a share, in its fiscal second quarter ended Nov. 30, up from a year-ago profit of $19.7 million, or 28 cents a share, and 3 cents ahead of the average estimate of analysts polled by Thomson Reuters.

There were no premarket quotes for Immucor. Shares of the company rose 6.2% to $20.50 in after-hours trading Thursday.


Saba Software ( SABA) reported disappointing quarterly results. The company posted a non-GAAP generally accepted accounting principles profit of $543,000, or 2 cents a share, for the three months ended Nov. 30, well below the average estimate of two analysts polled by Thomson Reuters for earnings of 7 cents a share.

No premarket trades were reported for the stock. Saba tumbled by 12.1% to $5.51 in after-hours trading Thursday.


American International Group ( AIG) agreed to pay $450 million to resolve legal disputes with competitors, according to the Wall Street Journal. The company announced on Friday that its board declared a dividend of about 75 million warrants to buy shares of AIG common stock at $45 a share, to be distributed to shareholders on Jan. 19.

AIG was higher by **3.3% to $62.43** in premarket trading.

Telecom Italia ( TI) has been raised to buy from hold by Citi.

Telecom Italia has inched up 1.3% to $13.61.


3M ( MMM) CEO George Buckley says it has been "imperative" for him to find a successor from within the company. "It was a self-imposed imperative to make sure that when I eventually retire from the company that the next person that was appointed would be an internal person," said Buckley, according to Bloomberg.

3M stock rose 0.8% to $86.83.

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-- Written by Andrea Tse in New York.

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