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KB Warns, Hovnanian Profit Falls

September 6, 2006

A rapidly deteriorating U.S. housing market prompted KB Home (KBH.N: Quote, Profile, Research) to cut its forecast on Wednesday and luxury home builder Hovnanian Enterprises Inc (HOV.N: Quote, Profile, Research) to report earnings and orders that fell for the second straight quarter.

*For more on this story,

read the full Reuters article.

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