KB Home Disappointing Results, Tesla Sales, Cassava Shares Slump

On this episode of Stock Movers:

- KB Home (KBH) shares fell after the homebuilder posted disappointing 1Q results and cut its fiscal 2025 revenue guidance, saying demand at the start of spring selling season was more muted than historical levels. The company missed its sales goals for 1Q. Management is cutting guidance primarily to reflect the lower level of net orders generated in the 1Q.
- Tesla (TSLA) sales fell for the 10th time in the last 12 months in Europe, where Elon Musk’s politicking and a changeover of the carmaker’s most important product have been major hindrances. The company registered 16,888 new cars in February, down 40% from a year ago, according to the European Automobile Manufacturers’ Association.
- Cassava (SAVA) shares slump after the drug developer said it will discontinue its Alzheimer’s program with simufilam by the end of the second quarter, following a late-stage trial failure. Topline data indicated that REFOCUS-ALZ did not meet each of the prespecified co-primary, secondary and exploratory biomarker endpoints.

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