(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.

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